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Ive got a tip for you that it took me years to work out about a bias on 6E...don't have one.
You might think Im talking B.S but unless you're holding trades for days or weeks then do not have a bias.
I day trade 6E everyday , so one day Im selling the next I could be buying unless its in a clear trend.
Dont get caught up in where you want it to go, just trade the direction its going on the pullbacks.
Try not to get married to one direction or you will miss the reversals.
If its going down sell it, if its going up , buy it.
Thanks for advice and I agree with you completely. I don't have time to trade during the day lately (even to check the chart on my phone) so I'm forced to move higher timeframes holding for couple or several days but still it didn't work out that well that week .
well firstly, I was wrong in reading todays tone of the day. Gold did not phone ahead a more dovish/easing fed.
Bonds got it right - namely doing nothing
In hindsight maybe some real money euro bears used the brief gold rally to accumulate more dollars and sell euros.
Forex is not so liquid like many think and RM people need room for their operations (think wyckoff / game theory )
Multiple central banks support the weak euro.
This is done to stimulate the EMU economy ( on the shoulders of others) and peg others to the euro.
This round of political induced monetary policy started during the China crash.
Because the EMU is such a corrupt structure and has so many players, it is easier to detect.
Secondly, like other CBs in the world, the ecb "informs" the market and key market player about what they want. (where they want the FX rate to go)
CBs influence the FX rates via
A) interest rates
B) via active operations (buying and selling in the market).
C) via talking about A) and B)
Only the big CBs can do B) successfully ( like BOJ, ECB, FED, PBOC ) - small ones try and fail often ( like SNB)
Because of the interest rates differential and expected directions of the rates between EMU and the dollar area, money will flow back and forth.
Right now money flows to US to buy US assets - mainly equities and not bonds.
This is because people expect lower EMU rates and same or higher US rates.
So far it's only words, ECB and FED only talk but did not implement anything new.
But it was good for 800 pips eurusd from the high.
Did people stop trading the 6E since 2015 or is there a fancy new thread somewhere?
I had some questions about this contract but wasn't sure if this is the right place. I come from trading spot forex, but can't tell how holding onto this contract works. Is it just something you need maintenance margin for to hold through the close? Is there some swap involved here too or just the price of entry and exiting the trades?
Other than that I understand that each tick on this contract is worth $12.50 like the ES? So 4 ticks in a point too? Or is it pips here?
Apologize in advance if this is the wrong thread for such questions, if someone can direct me to the right place I'd be grateful.
Trade in the present: what do you see developing today?
There is maintenance margin for overnight hold, USD 3.350 per contract. This amount shall be free from holds in your account (i.e. margin used) otherwise you will receive a margin call.
In 6E a full point/pip is worth $12.5, i.e. 1.1375>1.1376 = $12.5. Since the introduction of a 5th digit (0.00005), now there are half- points/pips worth $6.25, so in ES terms, 2 ticks=1 point (pip).
No swap is charged in long positions as in FX, just broker & CME commissions/charges in either side trade.
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