Trading Oversea Markets

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EricH777

Hi,
Is there any successfull oversea traders here? I've been following the US market for over 4 years and would really want to get into daytrading. My current job which is 9-6pm everyday prevents me from doing that. I know the HK market opens around 9PM here in the US, and the EURO opens around 6am. I'm wondering if it's worth while trading these oversea markets during the nights and early morning. I've searched through the boards and noticed there are some HangSeng future traders here and would appreciate if they can share some experience in trading Euro/HK equities. Thank You!
 
also, what brokers/ software platforms allow overseas trading?? I would like to get involved in trading the opens in foreign markets.
 
Yes, you can trade HK via IB. If in the states you will only have access to the HSI future for the HK market (CFTC approved). We (timber hill, a subsidiary of IB) make markets and actively trade the HSI index options. The market is very tradeable but it is volatile and it is not a small contact. Each tick is 50 HKD (a little over 6 bucks) and 150 point moves aren't atypical. If you want to know anything on the technical side, ask. You could consider the SPI (Sydney Futures).
 
Just saw after I posted that you mentioned equities. Sorry, we don't offer them right now. It's a speed issue. The exchange only allows one transaction per second per gateway and the incremental cost to purchase more throughput isn't economically feasible. If you are looking for a broker for HK equites, send me a PM and I'll recommend a few. Beware, stamp tax is high and the minimum spreads are wide. The HK exchange web site may be helpful. http://www.hkex.com.hk/
 
I recently started trading the hang seng index futures.
I am looking to buy historical intraday data for the hang seng
and mini hang seng index futures. (1 minute data would be fine). Anyone have any recommendations?

I don't need a real-time data feed, as I can use the one from IB that is free. (great value)

Couldn't find any intraday data at http://www.hkex.com.hk/.
E-signal and myTrack don't carry the HKFE.
fsxtra.com does not seem to just offer historical data.
http://www.e-finet.com seems to offer historical intraday data, but there is no mention of price.


Quote from def:

Yes, you can trade HK via IB. If in the states you will only have access to the HSI future for the HK market (CFTC approved). We (timber hill, a subsidiary of IB) make markets and actively trade the HSI index options. The market is very tradeable but it is volatile and it is not a small contact. Each tick is 50 HKD (a little over 6 bucks) and 150 point moves aren't atypical. If you want to know anything on the technical side, ask. You could consider the SPI (Sydney Futures).
More...
 
Thanks DEF,

Yes, it's the Hang Seng equities that i'm interested in trading. The volume in the index looks good. I'm looking daytrade the HK equities during the night hours here, of cause if i could i would love to daytrade the US equities....but my day job is preventing me from doing that. I will pop you an email...i hope that is what PM means....
 
Doesn't it seem like somewhere there has to be a developing market where there exists inefficiencies like those that existed in ours a few years back.

You know back in the soes and the market makers would just lift and you would made a teenie days.

Surely the less developed countries/markets don't have our efficiencies...somewhere in Brazil there has to be a daytrader exploiting big spreads or or some inefficiency or something.

:p
 
Quote from EricH777:

Thanks DEF,

Yes, it's the Hang Seng equities that i'm interested in trading. The volume in the index looks good. I'm looking daytrade the HK equities during the night hours here, of cause if i could i would love to daytrade the US equities....but my day job is preventing me from doing that. I will pop you an email...i hope that is what PM means....
More...

Day trading HK equities will be difficult for a number of reasons:

1. cost: 10-25bps per side commission
2. stamp tax/sfc transaction levy: about 14 bps per side
3. spreads: the higher the price of the stock, the wider the spread. you'll have to cross the spread to trade or patiently wait on the book.
4. short sale, not all stocks are borrowable, those that are available can be expensive, I imagine retail would have to pay 1-5% for stock loan.
5. direct access: most brokers are browser based and not direct access. The reason has to due with the throughput limitations exchanges impose on each firm as well as the cost of data.

 
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