Which market?

[Tubbs]

Hi, I'm currently trying a system intraday on short-term momentum trading.

I have a pretty good win rate when the momentum / volatility is high - but unfortunately since I have a day job I am finding it difficult to trade.

I first started with the American indices like ES and NQ - but as they open at 14:30 UK time trading the open is out for me. I looked at the UK evening but unfortunately the volatility isn't really there most of the time.

I then changed to FTSE futures (Z) and in the morning this is absolutely perfect for my system. Unfortunately as it opens at 8am UK this doesn't offer enough time for me to trade.

So I'm looking for ideas of markets that I can trade outside of 9-6pm UK time, that may have decent volatility so I can focus 100% on.

I have looked into 6E for example and it looked OK. any ideas out there. I really need a decent track record before I can chuck the day job.

Many thanks, Nick

 

[Tubbs]

Nobody?

 

[scose-no-doubt]

hurricane futures

 

[arabianights]

FTSE futures open at 1am now... although needless to say they're pretty darn thin there

Fixed income has great momentum ON OCCASION which you need to be able to detect... I would think that wouldn't be too hard to be honest, it's doable as a human!

 

[Pazienza]

You're probably looking at the Far East. Can't remember what it's called, but there's a HK futures contract that is active around then. I think it's a tricky little beast though.

I'd stick to longer term stuff if I were you until you can go full time.

 

[Tubbs]

Alright - thanks for the input.

I love the dancing banana. it rules.

 

[Pazienza]

Hey Tubbs,

Is this thread of any interest?

http://www.elitetrader.com/vb/showthread.php?threadid=109538

 

[charliechan]

like Fonzy said - HK is one. Also look at KOSPI in Korea (massive opportunity) and the NIKKI on TSE/TIFFE

Probably all available through IB

 

[Pazienza]

like Fonzy said - HK is one. Also look at KOSPI in Korea (massive opportunity) and the NIKKI on TSE/TIFFE

Probably all available through IB

KOSPI apparently is major, major volume.

 

[donaldduke]

You dont want to trade Asia, otherwise you wont get any sleep.

Your best bet is to trade the last 1.5 hours of the US market, from 7:30 onwards.
Trade either ES,YM,NQ or TF.

 

[Tubbs]

Thanks for suggestions. I have tried the US last 1.5 hours but the volatility drops off quite considerably. It hasn't proved to work for me - that was my first choice.

I also have to say my system demands a certain type of action. I need volatility, but also a market where the 'candles' don't overlap too much. Some markets have high overlap characteristic and others don't. The FTSE is very good.

I have looked into the Asian markets on the SIMEX (SGX) notably the Nikkei (NK) but it looks quite thin compared to European and US indices - i.e there are some 5 minute bars that show no up or down ticks. That is really no good for my system. Is this characteristic something that others have found.

I would like to check out the Hang Seng but will need to subscribe to IB data for it.

Does the Indian market open early in UK time, and is there an index future that moves at all?