M6E Session Changeover | Currency Futures


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M6E Session Changeover

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Fat Tails View Post
I have never traded M6E. The contract is not very liquid and the commissions are too high. There is no reason to touch it.

There are plenty of reasons to trade M6E, almost all of which would have to do with account size and risk. Spreads are fine, and commissions are low. So I disagree with everything Fat Tails said above.

If you have 25k + in your account, then you don't need or want to trade M6E. But for those trying to trade with less money, as I outlined in my last webinar, M6E is an ideal instrument to trade with.

From roughly 2am to 10am eastern, the spread is 1 tick or less for the most part. Forget what is advertised on the DOM, as I've said before - usually the order will get filled regardless of what is advertised, if you use a limit order at the real 6E bid or ask.

It is plenty liquid enough to trade for anyone with a smaller account trading up to 10 lots or so.

You most certainly do not want to chart M6E. Chart 6E instead.

One of my brokers is charging $4.64 per round turn for 6E. They charge $1.66 round turn for M6E. I think that is mostly fair, as if you go to a forex dealer and trade a mini lot @ $1.00/pip, you will likely pay a 1 pip spread both entering and exiting, or in other words roughly the exact same you pay on the CME FX micro product.

Again, if you are well funded so you can trade the full sized 6E with 1% risk per, then there is no need to even be reading this thread. But unfortunately, many people are trying to trade with 10% risk per on the real 6E. Those people would be far, far better served to trade the M6E.

Mike

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