Trading mini euro ( E7) or micro euro (M6E) currency futures ??? - Currency Futures | futures io social day trading
futures io futures trading


Trading mini euro ( E7) or micro euro (M6E) currency futures ???
Updated: Views / Replies:45,789 / 114
Created: by rw48gmx Attachments:13

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
 13  
 
Thread Tools Search this Thread
 

Trading mini euro ( E7) or micro euro (M6E) currency futures ???

  #21 (permalink)
Blockchain Enthusiast
Perlis, Malaysia
 
Futures Experience: Beginner
Platform: TradingView
Broker/Data: Bitmex
Favorite Futures: Bitcoin
 
Posts: 96 since Aug 2011
Thanks: 114 given, 16 received


cunparis View Post
No, but it's all based on the spot forex exchange rate. The futures follow the forex spot rate and there are arbitrators making sure it does. The big futures contract follows the euro to the tick, I'm not sure about the mini euro.

In forex you can trade any size you want. $1, $100k, $1,000,000. Micro lots let you do tiny trades of a few dollars. with the futures the minimum is determined by the contract. 125k for the big one, half for the mini.

In general the less liquid minis are there to entice non-professional traders so you want to stay away from them. Your only chance of winning this game is to trade with the professionals.

who are the arbitrators? CME set the price to follow interbank rates?

Reply With Quote
The following user says Thank You to Azharr for this post:
 
  #22 (permalink)
Trading for Fun
NY
 
Futures Experience: Advanced
Platform: NinjaTrader
 
Posts: 88 since Sep 2009
Thanks: 52 given, 20 received


SevenEightSix View Post
who are the arbitrators? CME set the price to follow interbank rates?

That means that the market maker on M6E or E7 keeps tracks of real forex market on EBS or DB in order to make the mkt, otherwise if the liquidity he provides is enough and the bid/ask are off-synch an arbitrager could make a free profit.

Reply With Quote
The following user says Thank You to paulg for this post:
 
  #23 (permalink)
Trading for Fun
NY
 
Futures Experience: Advanced
Platform: NinjaTrader
 
Posts: 88 since Sep 2009
Thanks: 52 given, 20 received

E7 vs M6E: worthwhile?


Anyone here prefers the E7 vs M6E?

Usually the volume is lower on mini vs microfx futures, the spread seems a bit larger on E7 vs M6E but the commission are proportionally lower.

Reply With Quote
The following user says Thank You to paulg for this post:
 
  #24 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: Mult . .
Favorite Futures: Futures
 
Posts: 47 since Oct 2011
Thanks: 49 given, 65 received

I think maybe the M6E is growing-up since some of the earlier posts in this thread . . . For the past several months, the spread is almost never more than 3 ticks, & it's usually 2.

Yes, you can find some dead times (like 7pm EST) when nothing is happening and the spread is wider, but even then I've never seen it more than 4-5 ticks (and at those times, the 6E is 2, and sometimes even 3).

I think these (Micros) are fantastic contracts for any time you want to control position size, and precisely dial leverage up & down for specific purposes (a swing-trade, or small spread, for example).

Keep in mind that the contract value is 12,500EUR - so if a person has $10k in their account, and trades 2 of these, they're still leveraged more than 3-to-1 (significantly more leveraged than if maxed-out on full-margin in a stock account - and, of course, the Euro is wildly more volatile than most stocks).

I also think they're great for trying new things without getting killed, and managing your risk/position-size by percentages.


Last edited by ddouglas; November 6th, 2011 at 12:54 AM.
Reply With Quote
The following 3 users say Thank You to ddouglas for this post:
 
  #25 (permalink)
Elite Member
london uk
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: Stocks
 
tellytub's Avatar
 
Posts: 409 since Jun 2009
Thanks: 333 given, 118 received

for E7, are we to use 1-12 contract or 12-11?

Reply With Quote
The following user says Thank You to tellytub for this post:
 
  #26 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,023 since Jul 2011
Thanks: 2,211 given, 1,545 received

I tried the E7 or ME7 once or twice on TOS. It was horrible. The movement was so sluggish, slippery or sometimes jumping beans and the bars were messy and stepwise forming. Forget about precise filling anywhere.

Well looking at the more recent posts, if the spread is now indeed settled to 2 or 3 for the most part , then may be worth a look again sometime..

Reply With Quote
The following user says Thank You to Cloudy for this post:
 
  #27 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,163 since Jun 2009
Thanks: 29,275 given, 82,771 received


tellytub View Post
for E7, are we to use 1-12 contract or 12-11?

It will match the big contract, so 12-11 for now.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #28 (permalink)
 Vendor: tradingcode.net 
The Netherlands
 
Futures Experience: None
Platform: MultiCharts, TradingView
Favorite Futures: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 660 received


paulg View Post
Anyone here prefers the E7 vs M6E?

Good question, any E7 or M6E traders here? What are your experiences?


paulg View Post
Usually the volume is lower on mini vs microfx futures, the spread seems a bit larger on E7 vs M6E but the commission are proportionally lower.

The recent spread between these two is, based on my data, is practically the same (2 ticks).

Might be interesting for position trading, but for day trading or scalping the spread is too big (and volume too low) I think. What do you think?

Attached Thumbnails
Trading mini euro ( E7) or micro euro (M6E) currency futures ???-m6e_10-12-2011_1043_spread.png   Trading mini euro ( E7) or micro euro (M6E) currency futures ???-e7_10-12-2011_1048_spread.png  
Reply With Quote
The following 2 users say Thank You to Jura for this post:
 
  #29 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: Whatever moves in my timezone
 
Posts: 1,803 since Sep 2009
Thanks: 3,165 given, 1,370 received

M6E on ZenFire

Was just wanting to test the minis and micros as suggested by @Big Mike and @madLyfe in Richwaters thread.

With ZenFire/Mirus/NT combination I can get QM (Crude) and E7 (Euro mini), but not M6E (Euro micro).

Can anyone using ZF/Mirus/NT get M6E?

UPDATE: I may have answered my own question; I bought the instrument up on Market Analyser at 5.40pm ET Friday which is after the market has closed. My guess is ZenFire/NT do not maintain historical data for this instrument so hence no populating of fields in Market Analyser.

I will re-test when markets open on Tuesday.

I have also seen that Mirus quote M6E on their commissions/margins page - so therefore I assume they allow us to trade it.


Last edited by steve2222; December 30th, 2011 at 06:25 PM. Reason: More info
Reply With Quote
The following user says Thank You to steve2222 for this post:
 
  #30 (permalink)
Elite Member
Wodonga Australia
 
Futures Experience: Intermediate
Platform: NT, MT4
Broker/Data: tba
Favorite Futures: tba
 
Linds's Avatar
 
Posts: 290 since Jul 2010
Thanks: 347 given, 276 received


I have been looking at E7 as an option for position sizing flexibility for my 6E trading. But it is very clear just from the volumes and spreads I have observed on E7 tonight that it will give very poor fills and most likely kill any edge on a low t/f method.

Daily Volumes as I write:

6E 85300
E7 1860

Spread on the E7 is generally 2, often 3 but spikes to up to 8 at times...unacceptable - and this is the London session.

L

Reply With Quote
The following 3 users say Thank You to Linds for this post:

Reply



futures io > > > > Trading mini euro ( E7) or micro euro (M6E) currency futures ???

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Introducing daytradr by Jigsaw, new stand-alone platform

Oct 19
 

RandBots: AutoTrading Bots to diversify your trading

Oct 24
 

TopstepTrader: Profiting Without Risking Your Own Money

Oct 26

Building Open Source Indicators for NT8 w/Fat Tails @ Lizard Indicators

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading the Euro futures ckait The Elite Circle 3 March 22nd, 2011 08:28 AM
Japan to Buy Euro Zone Debt, Little Relief for Euro Quick Summary News and Current Events 0 January 11th, 2011 02:30 AM
Zen-Fire and NinjaTrader, getting E7 (mini Euro). zwentz Reviews of Brokers and Data Feeds 4 July 20th, 2010 06:05 PM
E7 Euro live data for ninja 6.5 request ceramictilepro Reviews of Brokers and Data Feeds 2 June 7th, 2010 04:22 AM
Euro Dip 'Welcome', No Euro Zone Recession: OECD Quick Summary News and Current Events 0 May 26th, 2010 04:10 AM


All times are GMT -4. The time now is 05:36 AM.

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 2017-10-18 in 0.12 seconds with 20 queries on phoenix via your IP 54.224.155.169