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EURUSD 6E Euro
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EURUSD 6E Euro

  #2261 (permalink)
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My VM is dead as well @JohnS the only chart I was able to get were my a bit messy ones on a small screen - ninja does not even start :/

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This is SIM trading here - took some SIM longs off already

To me it may have a shorter term pull back (test the range or get back to the range for a moment) and then hopes and dreams to go up higher - which may be a deeper pullback on a down move longer term. There are some news events today so it all can go bananas.

all the best
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  #2262 (permalink)
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@chr1s,
yes the news schedule for this afternoon is long so the euro could go bananas! VM does not connect to PC's shared drive so using Mac to post.

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  #2263 (permalink)
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dom64 View Post
Mate, all I do is trade the 6E, from an order flow perspective. 6E volume and DOM is very reliable (Hedging or not), forex has no central official volume indeed, and CD on its own does not mean much.

Take a look at my YT link, not in Englush, but that should give you an idea of one way (by no means the only one) to trade the order flow.

Im really confused about 6e order flow. Doesnt the 6e follow the eur/usd spot market? How is this happening? What effect does this have on the 6e dom and cd? Something i really never get.


Last edited by aaaaaa225; June 8th, 2015 at 08:43 AM.
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  #2264 (permalink)
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aaaaaa225 View Post
Im really confused about 6e order flow. Doesnt the futures market follow the spot market? How is this happening? What effect does this have on the 6e dom and cd? Something i really never get.

The 6E is the EUR/USD Future spot rate, so not sure I understand the question. The EUR/USD spot rate is an OTC market, the 6E is a future contract, quoted on the CME, with an official DOM & Tape. And yes you are right, the 6E follows the spot rate, altough it tends to have slightly higher bid/ask values, whcih narrows down and goes closer to the spot rate as we go towards the end of the contract life (and it eventually becomes the same values when it expires).

I would not worry about it 2 much, and would just see them as 2 different things, except the 6E has an official depth or market and recorded transactions, which means you have a unique and real point of reference, which you obviously do not have on the spot market, unless you happen to have the DOM of all FX brokers, which would somewhat be representative (especially if you had the main FX players' books, which you won't have).

Hope this answers your question.

Dom

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  #2265 (permalink)
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dom64 View Post
The 6E is the EUR/USD Future spot rate, so not sure I understand the question. The EUR/USD spot rate is an OTC market, the 6E is a future contract, quoted on the CME, with an official DOM & Tape. And yes you are right, the 6E follows the spot rate, altough it tends to have slightly higher bid/ask values, whcih narrows down and goes closer to the spot rate as we go towards the end of the contract life (and it eventually becomes the same values when it expires).

I would not worry about it 2 much, and would just see them as 2 different things, except the 6E has an official depth or market and recorded transactions, which means you have a unique and real point of reference, which you obviously do not have on the spot market, unless you happen to have the DOM of all FX brokers, which would somewhat be representative (especially if you had the main FX players' books, which you won't have).

Hope this answers your question.

Dom

Yes i get that but what or who is keeping 6e in line with spot euro/usd? Is a market maker sitting there buying or selling contracts to keep it in line with the spot market? Is the the cme just changing the price with out volume? Does this effect the depth of market and volume? It feels like there is more to this. If i come in with a huge order that wipes out mulitple levels of the dom who steps up and brings it back in line with spot eurousd? Is it spreaders, market makers or is it the cme?

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  #2266 (permalink)
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aaaaaa225 View Post
Yes i get that but what or who is keeping 6e in line with spot euro/usd? Is a market maker sitting there buying or selling contracts to keep it in line with the spot market? Is the the cme just changing the price with out volume? Does this effect the depth of market and volume? It feels like there is more to this. If i come in with a huge order that wipes out mulitple levels of the dom who steps up and brings it back in line with spot eurousd? Is it spreaders, market makers or is it the cme?

Nobody does, it is in line with the spot, if the spot moves, it moves, one is an OTC instrument and the other one is a derivative instrument. Mostly the 6E is used as a hedging instrument for those who have positions on the spot. it is also use as a speculative instrument, but it is pegged to the spot values, so nobody has to fine tune it to stick to the spot, it just does.

If you think it is important to be able to observe the DOM, Limits/Market orders then you'd be better of trading the 6E. If you are a mutli-millions company who uses one of the top players in the FX space as a counterparty, then you might want to trade the spot and hedge your positions on the futures contract.

This is to answer your questions, but frankly it really does not matter. The 6E is correlated to the spot, you could trade the futures based on spot data is this is where you were coming from, but no need to torture yourself really, just trade one or the other or both if you want to Hedge your positions.

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  #2267 (permalink)
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dom64 View Post
Nobody does, it is in line with the spot, if the spot moves, it moves, one is an OTC instrument and the other one is a derivative instrument. Mostly the 6E is used as a hedging instrument for those who have positions on the spot. it is also use as a speculative instrument, but it is pegged to the spot values, so nobody has to fine tune it to stick to the spot, it just does.

If you think it is important to be able to observe the DOM, Limits/Market orders then you'd be better of trading the 6E. If you are a mutli-millions company who uses one of the top players in the FX space as a counterparty, then you might want to trade the spot and hedge your positions on the futures contract.

This is to answer your questions, but frankly it really does not matter. The 6E is correlated to the spot, you could trade the futures based on spot data is this is where you were coming from, but no need to torture yourself really, just trade one or the other or both if you want to Hedge your positions.

Thanks for your replys. I still have not seen anyone say what exactly is keeping the 6e and spot eurusd in line with eachother. Like you said when spot moves it moves, what exactly is making the 6e move with spot eurusd?

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  #2268 (permalink)
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spot versus future

A forward is a agreement between two parties to buy and sell a item at a future spot price on at a future date.
A future is basically a standardized forward contract traded on a secondary exchange.

/6e is nothing more than a future contract of the eur/usd spot price.

Eur/Usd amd /6e have to follow each other or else there would be arbitrage opportunities. If the two did diverge, banks and traders would trade them massively until the arbitrage would disappear.

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  #2269 (permalink)
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So what's the point of depth and order flow of 6E? If there is a larger buy order at some level on 6E and I hide my stops behind it then suddenly at some bank sell orders are executed pushing price way down what's the point of someone looking at the depth of 6E when it does not have banks orders (nobody has)?

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  #2270 (permalink)
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tradentravel View Post
A forward is a agreement between two parties to buy and sell a item at a future spot price on at a future date.
A future is basically a standardized forward contract traded on a secondary exchange.

/6e is nothing more than a future contract of the eur/usd spot price.

Eur/Usd amd /6e have to follow each other or else there would be arbitrage opportunities. If the two did diverge, banks and traders would trade them massively until the arbitrage would disappear.

Should I make my own threadd? What is making them follow eeach other internally? Is it cme volume or is it a cme algo? Reason I'm asking this is the answer would effect order flow trading,

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