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

  #31 (permalink)
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Linds View Post
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

Yikes, definitely seems untradeable at those levels. M6E is the better choice it seems as an alternative, half the size of the E7 I think.

Mike

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  #32 (permalink)
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Unfortunately Mirus dont offer M6E
1 will look into using spot forex Euro through a good local broker as the execution platform..spread is around 1.5---not great but a lot better than E7

L

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  #33 (permalink)
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Linds View Post
Unfortunately Mirus dont offer M6E
1 will look into using spot forex Euro through a good local broker as the execution platform..spread is around 1.5---not great but a lot better than E7

L

Are you sure? It's on their website...

http://www.mirusfutures.com/brokerage_services/commissions/available_contract_details

Mike

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  #34 (permalink)
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Yep confirmed directly yesterday by Tony.

"Lindsay,

Our clearing firms do not offer the M6E as a product. You should look into the E7 as an alternative. The cost for the currency contract would be around $4.74 a round turn"


L

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  #35 (permalink)
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Linds View Post
Yep confirmed directly yesterday by Tony.

"Lindsay,

Our clearing firms do not offer the M6E as a product. You should look into the E7 as an alternative. The cost for the currency contract would be around $4.74 a round turn"


L

Hmmm... then why is it on their website?

I'm going to shoot an email to Eliot just to make sure, I am curious now.

Mike

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  #36 (permalink)
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Mirus offers M6E, just write them an email. I did.

But the lag behind 6E makes it untradeable.

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  #37 (permalink)
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petrmac View Post
But the lag behind 6E makes it untradeable.

I've never heard that from anyone else before.

Mike

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  #38 (permalink)
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Big Mike View Post
I've never heard that from anyone else before.

Mike

i can see how it would be not very easy to trade if scalping.. to make it worth while you would need to be in the market for 20pt moves and greater..

dont believe anything you hear and only half of what you see

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  #39 (permalink)
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madLyfe View Post
i can see how it would be not very easy to trade if scalping.. to make it worth while you would need to be in the market for 20pt moves and greater..

There is a greater spread. You pay a price for everything, in this case you are paying a price for lower $/tick. But lag behind the 6E? I don't think so. Would be arb all over that if it were the case, to the point where it is no longer true.

Mike

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Need help?
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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.
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  #40 (permalink)
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Big Mike View Post
There is a greater spread. You pay a price for everything, in this case you are paying a price for lower $/tick. But lag behind the 6E? I don't think so. Would be arb all over that if it were the case, to the point where it is no longer true.

Mike

yes correct, it doesnt 'lag' behind.. its kinda like trading the DX when watching the DXY or the inverse of eur/usd.. on a side note, thats was one cool feature of TOS is that you can put a '-' infront of whatever symbol you are trading and it will inverse the chart so you can have everything going the same direction in opposite markets instead of having to wrap your head around 'this is going up, this should be going down'.. helps for quick at a glance viewing..

dont believe anything you hear and only half of what you see

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