You may want to look into EWH, which is close enough (USD denomitated). I think there's a HKD denominated ETF in Hong Kong that specifically tracks HSI, but any more research than that and you're on your own... investing is not my cup of tea.
Filter_Sweepâs Hong Kong Journal
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You may want to look into EWH, which is close enough (USD denomitated). I think there's a HKD denominated ETF in Hong Kong that specifically tracks HSI, but any more research than that and you're on your own... investing is not my cup of tea.
Looks like Hong Kong is closed tonight, so no trading. Bummer.
Might watch ES a little though... got some movement going on right now.
Might watch ES a little though... got some movement going on right now.
If HKFE is closed, take a look at KOSPI on the KSE. Data is free from IB and it's a very liquid contract. Symbol to input in IB is K200.
And for planning your trading on the HKFE, keep an eye on IB's calendar at http://individuals.interactivebrokers.com/en/p.php?f=calendars&ib_entity=llc which has this entry for July 1, 2010:
"All products on Hong Kong Exchanges will be closed for trading."
Decided to give give the currencies a try and once again got reminded why its best to stick to the markets I have experience with. Trying to trade the euro on a 5 minute chart was like trying to trade in a blender. The Australian dollar sure moved nicely though, I should have been trading that the whole time. Was also able to squeeze in an ES trade and finish with what I started.
+$6.80 USD (lol, that's called break even)
Regarding the KOSPI, I'm quite familiar with it and how liquid it is, in fact I keep a chart of it open while trading Hong Kong as a frame of reference, but its trading hours don't work with my schedule, and I'm not convinced my momentum based setups, which allow for tight stops, would work well on it, and I'm not comfortable with the contract size (its huge) relative to my account size to use my scale in / scale out setups. Hong Kong really works better for me, as I hope to more effectively demonstrate after moving to HHI from MHI.
+$6.80 USD (lol, that's called break even)
Regarding the KOSPI, I'm quite familiar with it and how liquid it is, in fact I keep a chart of it open while trading Hong Kong as a frame of reference, but its trading hours don't work with my schedule, and I'm not convinced my momentum based setups, which allow for tight stops, would work well on it, and I'm not comfortable with the contract size (its huge) relative to my account size to use my scale in / scale out setups. Hong Kong really works better for me, as I hope to more effectively demonstrate after moving to HHI from MHI.
I'm not very familiar with the HKFE so can you tell me what is the difference between the HHI and HSI? How would you compare the two contracts? I've always heard that HSI moves like a loose fire hose and is very thin at times. Does HHI have a similar profile? Thanks.
Loose fire hose, I like that one. HHI is slightly smaller than HSI because its index value is less, but each is 50 HKD a tick. HSI is slightly more liquid, but they both have the same average spread (1-4 ticks, expands and contracts), but HSI's liquidity seems to be in bigger chunks (larger resting orders). Could just be my imagination though.
Comparing how they move, I'd say HSI is to HHI as YM is to NQ (or maybe TF, just thinking about movement, not value of the contract). Meaning HSI is a bit more mean reverting, tends to get stuck in chop zones more frequently, doesn't blow out of conjestion zones quite as nicely, etc. The same price action setups tend to form on both contracts at the same time, as they are closely correlated (just like YM to NQ), my experience has been that HHI performs better on average when the setups get triggered. The negative is that there are less contracts on the bid and ask, so if you're a big swinger you either have to up your timeframe or trade a more liquid market like the KOSPI.
Hope that helps.
Thanks. Great info. It sounds like HSI might actually suit my trading style a little more than HHI. I've sim traded the K200 vs HSI and HSI was hands down better than Kospi for me. I hadn't really heard much about the HHI before so that gives me another one to compare against. Maybe I'll start sim trading HK markets again and try both and see which works better.
Great thread btw. Not many traders focusing on Asian markets around here so this is a good learning tool for those of us not as familiar with them.
Great thread btw. Not many traders focusing on Asian markets around here so this is a good learning tool for those of us not as familiar with them.
Mid session update... the goal has been reached!
I'm going to finish out the session with MHI as the main instrument, but I've found myself getting protective of my P&L since I just hit the goal I've been working towards for the last six months, so I wanted to document it before I give it all back
.
At this point...
+885 HKD
(+$114 USD)
I'm going to finish out the session with MHI as the main instrument, but I've found myself getting protective of my P&L since I just hit the goal I've been working towards for the last six months, so I wanted to document it before I give it all back
. At this point...
+885 HKD
(+$114 USD)
I'm just churning at this point. There's some beautiful market action right now but I'm trading poorly, being too conservative because of the whole goal dynamic. Time to claim victory, take a break, and come back when my head's screwed back on straight. Final score is:
+940 HKD
(+$121 USD)
+940 HKD
(+$121 USD)