which session template should I use

[joemiller]

which session template should I use for extended trading hours for U.S. exchange traded ETFs?

what is the definition of the trading hours for the one you may suggest. I ask because my Forex prices are updating this evening but my ETFs are not updating.

[NinjaTrader_Kyle]

Hello joemiller,

Thank you for your post.

We have no official recommendation on which session template to use with these instruments. Please review the different hours available via the Session Manager (Tools > Session Manager) to determine which best meets your needs.

[joemiller]

thanks,

the tables in Tools>Session Manager are what I was looking for.

are the bars displayed on NT charts based on the session template start and end times?

If I specify a 24x5 session template for an ETF or US stock will trades be matched any time of the day ... and not by some other template specified by the US exchanges?

[NinjaTrader_Kyle]

Hello joemiller,

All intraday data would conform to whichever session template was selected.

[GlobalTradingTools_Stuart]

thanks,

the tables in Tools>Session Manager are what I was looking for.

are the bars displayed on NT charts based on the session template start and end times?

If I specify a 24x5 session template for an ETF or US stock will trades be matched any time of the day ... and not by some other template specified by the US exchanges?

Hi joemiller

Yes, the session templates do control the bars displayed on your NT chart (based on the times, and time zone, set on the session template. They will also control where your session break line is displayed on a chart.

[joemiller]

why all the different time templates for electronic trading?

I had no idea things were this complicated in the Globex world [eg] why does the 'US equities ETH' template end at 8 pm? Why not let electronic trading occur on just one 'Globex' electronic market 24 hours per day? is the Globex different from other electronic bid and ask matching exchanges?

I will do some Google research but in the meantime any comments from you guys I'm sure will be of great help.

[Harry]

I had no idea things were this complicated in the Globex world [eg] why does the 'US equities ETH' template end at 8 pm? Why not let electronic trading occur on just one 'Globex' electronic market 24 hours per day? is the Globex different from other electronic bid and ask matching exchanges?

I will do some Google research but in the meantime any comments from you guys I'm sure will be of great help.

The session template lets you select the data

- that you want to see on your chart
- that will be used for calculating indicator values

If data is excluded via the session template you cannot perform calculations from that data.

Which session template you use, depends on the instrument that you trade. If you cannot find an appropriate session template for your instrument, just create a new one. Then select this template as default template in the master data for your instrument under instrument settings.

Example 1 (as you mentioned GLOBEX):

ES index futures trade from 5:00 PM Central Time (always use exchange time for session tempkates) to 4:15 PM next day. This is the contractual trading day. The trading day is subdivided into

- the night session (from 5:00 PM to 8:30 AM CT)
- the regular session (this is the contractual pit session, from 8:30 AM to 3:15 PM CT)
- an evening session (the remainder of the trading day, from 3:30 PM to 4:15 PM CT)

To trade ES, you can basically use 3 different templates.

Template 1: 5:00 PM to 4:15 PM (full session template)
Template 2: 5:00 PM to 8:30 AM & 8:30 AM to 3:15 PM & 3:30 PM to 4:15 PM (full session template, subdivided into 3 segments)
Template 3: 8:30 AM to 3:15 PM (regular session template)

If you use template 3, then you cannot display the night session high and low, because the data needed for display is excluded.


Example 2: Session template for AAPL

AAPL being a stock, it can be traded via several electronic networks. As you do not know, to which of those you have access, it is best to first open a 5-min chart 24/7. Studying the bars on the char will allow you to identify the trading hours, for which you receive data.

For example my data provider supplies data from 4:00 AM to 8:00 PM EST for this stock. If I watch the volume, I notice that volume kicks in after the regular open of the large exchanges at 9:30 AM EST and that there is little volume after 4:15 PM. After this analysis I will probably consider the following templates

Template 1: 4:00 AM to 8:00 PM (full session template)
Template 2: 4:00 AM to 9:30 AM & 9:30 AM to 4:00 PM & 4:00 PM to 8:00 PM (full session template, subdivided into 3 segments)
Template 3: 9:30 AM to 3:00 PM (regular session template)
Template 4: 9:30 AM to 3:15 PM (extended regular session template)

Now, I am the trader and it is up to me to select the data that I want to display on my chart. NinjaTrader lets me do whatever I want. If there is an existing session template that responds to my needs, then I take the existing one, otherwise I create a new one, label it US Equities Default and select it under instrument settings for AAPL.

I mainly use charts with instrument settings.

As you see, everything is pretty easy to do.

[joemiller]

thanks Harry,

all that, plus some info i received yesterday from matthew on this forum helps a lot. you obviously spent significant time composing your reply post. much appreciated.

this weekend I am trying to get my 100 charts more manageable.

you referred to 'my data provider'. are you not using kinetick?

the concept [new to me] of 'instrument settings' in conjunction with default templates looks like it may be useful, gotta look into that.

at your suggestion, a few months ago I started responding to some subject/question via email rather than on the forum - I think maybe because it was more between us only and therefore should maybe not be cluttering up the forum? anyhow I remember I owe you a response in that email dialogue but forget the details of how we were corresponding. if you remember any of that please refresh my memory.

hope things are cool in eastern Europe.

[Harry]

thanks Harry,
you referred to 'my data provider'. are you not using kinetick?

I do use Kinetick, but Kinetick does not provide data for ICE Futures and European stocks.

at your suggestion, a few months ago I started responding to some subject/question via email rather than on the forum - I think maybe because it was more between us only and therefore should maybe not be cluttering up the forum? anyhow I remember I owe you a response in that email dialogue but forget the details of how we were corresponding. if you remember any of that please refresh my memory.

hope things are cool in eastern Europe.

Don't remember the e-mails, but it is getting cool over here.