EURUSD 6E Euro - Currency Futures | futures io social day trading
futures io futures trading


EURUSD 6E Euro
Updated: Views / Replies:272,987 / 2,361
Created: by Big Mike Attachments:1,054

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1,054  
 
Thread Tools Search this Thread
 

EURUSD 6E Euro

  #811 (permalink)
Elite Member
Miami FL USA
 
Futures Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker/Data: IB, IQ
Favorite Futures: Currency Futures
 
Cashish's Avatar
 
Posts: 803 since May 2011
Thanks: 811 given, 2,103 received


trendisyourfriend View Post
What explains the difference between the last price Yesterday (2012-01-09) on the 6E at 1.2773 and the last price recorded on the CME web site at 1.2760B? What does the 'B' letter mean exactly ?


trendisyourfriend View Post
Still, i can't explain the disparity between the last price on Zen-Fire and the last price on the CME web site. 13 ticks of difference. The open today corrresponds to the last price traded on Zen-Fire but the exchange seems to be way off the mark. Just curious to know what caused this.

If my previous post appeared vague and elusive, I assure you that was not my intention.

This can become a complicated subject, but if you understand the 3 forces at work here the mysterious disparity will at least become understandable. Time, price and volume.

The simple answer to, "explain the disparity between the last price on Zen-Fire and the last price on the CME web site. 13 ticks of difference" is time. The settlement period for currency futures is between 13:59:30 and 14:00:00 PM CT. Within this 30 second time period is when the data for the last and settle price posted on the CME Site is accumulated and calculated. The last (on CME) is the last trade in this time period, the settle is the volume weighted average price of all trades traded in this 30 second period.

This is two hours prior to the close of the FOREX markets at 16:00 PM CT when your chart prints the last trade for the day. This is where the disparity between the last price on Zen-Fire (or any other data server) and the last/settle price on the CME web site originates.

Why? That's not my area.


I warned you, "This can become a complicated subject." I'm sure you're pondering many questions, I suggest using the futures.io (formerly BMT) search feature. Many of these questions and issues have been aired out extensively on other threads.

Reply With Quote
The following user says Thank You to Cashish for this post:
 
  #812 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary

A Puzzle


trendisyourfriend View Post
What explains the difference between the last price Yesterday (2012-01-09) on the 6E at 1.2773 and the last price recorded on the CME web site at 1.2760B? What does the 'B' letter mean exactly ?

So let us try to explain a bit the different closing prices.


Last Traded Price of the Trading Day


6E has the following trading times:

Globex session : 5:00 PM CT - 4:00 PM CT
RTH session (Open Outcry) : 7:20 AM CT - 2:00 PM CT

The last traded price of January 9 is the price of the last transaction, which occured prior to 4:00 PM CT.


Last Price Shown by CME

The last price shown on the CME website is not the last price of the Globex session, but the last price of the Open Outcry session, which ends at 2:00 PM CT. So it is known 2 hours earlier than the last price of the Globex session.

Further the last price is not necessarily a price of a transaction, but it can be an ask price (A) or a bid price (B)


Settlement Price Shown by CME

The settlement price is the volume-weighted average price of all Globex transactions for the front month that occured during the settlement period. The settlement period is the timespan between 1:59:30 PM CT and 2:00 PM CT, that is the 30 seconds prior to the end of the Open Outcry session.


Solving the Puzzle for January 9

Last Traded Price (Globex, 4:00 PM) : 1.2773
Last Traded Price (Open Outcry, 2:00 PM) : 1.2761
Last Price (CME, Open Outcry, 2:00 PM): 1.2760B
Settlement Price (CME, 1:59:30 - 2:00 PM): 1.2761


Anymore questions?

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #813 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,698 since Oct 2009
Thanks: 3,041 given, 4,498 received



Fat Tails View Post
...Anymore questions?

Thanks Guys,

I had forgotten the end of the RTH session was 2:00 PM CT for the 6E but i still have a question. Where can i see the last price that occured at 4:00 PM CT on the CME web. It's not here at this URL: CME 6E

And regarding the anaPivotDailyV38 indicator, what do you suggest as settings to get the correct daily pivots, the pivot levels a Forex trader would most probably use as as far as i am concerned the settlement price does not apply to the Forex market.

Reply With Quote
 
  #814 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


trendisyourfriend View Post
Thanks Guys,

I had forgotten the end of the RTH session was 2:00 PM CT for the 6E but i still have a question. Where can i see the last price that occured at 4:00 PM CT on the CME web. It's not here at this URL: CME 6E

And regarding the anaPivotDailyV38 indicator, what do you suggest as settings to get the correct daily pivots, the pivot levels a Forex trader would most probably use as as far as i am concerned the settlement price does not apply to the Forex market.

The last price 4:00 PM CT is not shown on the CME website under Settlements.

Pivots were a floor trader tool, and obviously they work better with floor traded instruments then currencies.

But to answer your question. The default settings of the anaPivotsDailyV38 indicator use

- the settlement price a 2:00 PM CT
- the high and low of the Globex session

to calculate the pivots. But decide yourself. The charts below show

(1) ETH pivots with settlement price
(2) RTH pivots with settlement price
(3) ETH pivots with ETH close
(4) RTH pivots with RTH close

The indicator allows you to display the pivots in all ways. (1) is the default option, as I believe that the regular trading hours at CME have little importance for FOREX instruments. An alternative would be option 3.

Attached Thumbnails
EURUSD 6E Euro-option-1-eth-pivots-dailybars.jpg   EURUSD 6E Euro-option-2-rth-pivots-dailybars.jpg   EURUSD 6E Euro-option-3-eth-pivots-close.jpg   EURUSD 6E Euro-option-4-rth-pivots-close.jpg  
Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #815 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,698 since Oct 2009
Thanks: 3,041 given, 4,498 received


Fat Tails View Post
The last price 4:00 PM CT is not shown on the CME website under Settlements.

...
(3) ETH pivots with ETH close
...


Common sense would dictate option 3 is the most logical choice i suppose. But what about if Zen-Fire does not 'fire' the correct price at 4:00 PM CT, what option do we have to counter check the last price aside from our broker datafeed if it's not available at the CME web side ?

Reply With Quote
 
  #816 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


trendisyourfriend View Post
Common sense would dictate option 3 is the most logical choice i suppose. But what about if Zen-Fire does not 'fire' the correct price at 4:00 PM CT, what option do we have to counter check the last price aside from our broker datafeed if it's not available at the CME web side ?

Zenfire does always fire the correct price at 4.00 PM CT, because it is just the close of the 4:00 PM CT bar. You just need to select the appropriate session template.

For 6E and ETH pivots

-> select the CME FX Futures ETH template (comes with NinjaTrader)
-> add the SessionPivots indicator and set it to Floor / ETH / CalcFromIntradayData

That is all you need.

Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #817 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Quotes

Since we're on the subject, I've a question.

Interactive Brokers send quotes for EUR/USD forex with the bid, the ask, and so they say, the last trade. But since this is forex, whose trades are they talking about? Their own customers?

Anyway I checked out the data coming through and in fact the last price is always the ask price. At least during the time when I was checking it out.

What's the deal with the futures? Can you chart bid, ask and last and see 3 seperate things?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #818 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,698 since Oct 2009
Thanks: 3,041 given, 4,498 received


Adamus View Post
Since we're on the subject, I've a question.

Interactive Brokers send quotes for EUR/USD forex with the bid, the ask, and so they say, the last trade. But since this is forex, whose trades are they talking about? Their own customers?

Anyway I checked out the data coming through and in fact the last price is always the ask price. At least during the time when I was checking it out.

What's the deal with the futures? Can you chart bid, ask and last and see 3 seperate things?

That's the purpose of the DOM to display the Last, Bid and Ask price so if you look at the DOM you should find your answer.

Reply With Quote
 
  #819 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


Adamus View Post
Since we're on the subject, I've a question.

Interactive Brokers send quotes for EUR/USD forex with the bid, the ask, and so they say, the last trade. But since this is forex, whose trades are they talking about? Their own customers?

Anyway I checked out the data coming through and in fact the last price is always the ask price. At least during the time when I was checking it out.

What's the deal with the futures? Can you chart bid, ask and last and see 3 seperate things?


FOREX ECN Brokers

The are different types of FOREX brokers. The better ones do not trade against you, but just offer access to an ECN (Electronic Communications Network). Interactive Brokers is one of the better ones, so they offer access to IDEALPRO, which is an ECN.

An ECN basically works like an exchange. If you want to know whether your FOREX brokers is an ECN broker, just check for market depth. If you have an order book with Level 2 data, you are trading via an ECN, which works in a similar way as an electronic exchange. The screenshot below shows market depth for $EURUSD.


Charting Last, Bid and Ask

When you open a chart, NinjaTrader allows you to plot the last price traded, the bid or the ask. Up to you to specify what you want to see. The chart below shows bid and ask for $EURUSD.

Attached Thumbnails
EURUSD 6E Euro-market-depth-eurusd.jpg   EURUSD 6E Euro-eurusd-1-min-ask-_-eurusd-1-min-bid-12_01_2012.jpg  
Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
  #820 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


Are you using Interactive Brokers? Are you trading forex or futures?

On the DOM, I see only bid & ask.

In times and sales, I see no entries in the Last price column.

When I plot Last in a chart in NinjaTrader, it is exactly the same data as Bid.

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote

Reply



futures io > > > > EURUSD 6E Euro

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading mini euro ( E7) or micro euro (M6E) currency futures ??? rw48gmx Currency Futures 115 November 14th, 2017 04:58 PM
NinjaTrader tick charts for Scalping the 6E Euro TickTrader Currency Futures 5 October 15th, 2011 10:27 AM
6E (EURUSD) trading alex123 Elite Trading Journals 35 September 17th, 2011 09:15 PM
6E and Euro spot key levels josh Currency Futures 5 July 23rd, 2011 12:25 PM
Big discrepancy 6E/@EU# vs. EURUSD spot Laurus12 Currency Futures 7 June 9th, 2011 09:12 PM


All times are GMT -4. The time now is 03:32 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.17 seconds with 20 queries on phoenix via your IP 107.20.115.174