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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 ???

  #41 (permalink)
Elite Member
Czech Republic
 
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Platform: NinjaTrader
Favorite Futures: E7, M6E
 
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Yep,

it is not lag per se. However I tried to execute semi-auto strategy on m6e and had 6e open at the same the for reference.
Before the bar displayed in m6e it was too late to close position. In such way I got a biggest slippage I ever got (about 10 ticks).

Later I discovered that the price is correct in DOM, but for some reason it got not displayed on chart. Maybe just Ninja issue...

So maybe rephrase that to "ninja charts lag"

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  #42 (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..

I can imagine. I am playing for bigger profits though... my smallest target is 33 ticks (by default).
I am not good enough for any scalping, that requires far better understanding to price actin IMO.

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  #43 (permalink)
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petrmac View Post
Yep,

it is not lag per se. However I trued to execute semi-auto strategy on m6e and had 6e open at the same the for reference.
Before the bar displayed in m6e it was too late to close position. In such way I got a biggest slippage I ever got (about 10 ticks).

Later I discovered that the price is correct in DOM, but for some reason it got not displayed on chart. Maybe just Ninja issue...

So maybe rephrase that to "ninja charts lag"

thats not really the issue either.. you can watch and see the DOM of the m6e that the bid/ask will go where the 6e actually ticks to and trades at and say you entered there or had an order to close out a position, that doesnt mean you will get filled, or even that the m6e will print that price went there.. it might have even skipped 5-10 ticks.. so just because 6e printed somewhere it doesnt mean that the m6e did.. but its prolly the case that on the dom the bid/ask it did in fact travel to those prices.. hope that makes sense..

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

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #44 (permalink)
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las vegas
 
Futures Experience: Intermediate
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petrmac View Post
Yep,

it is not lag per se. However I tried to execute semi-auto strategy on m6e and had 6e open at the same the for reference.
Before the bar displayed in m6e it was too late to close position. In such way I got a biggest slippage I ever got (about 10 ticks).

Later I discovered that the price is correct in DOM, but for some reason it got not displayed on chart. Maybe just Ninja issue...

So maybe rephrase that to "ninja charts lag"


madLyfe View Post
thats not really the issue either.. you can watch and see the DOM of the m6e that the bid/ask will go where the 6e actually ticks to and trades at and say you entered there or had an order to close out a position, that doesnt mean you will get filled, or even that the m6e will print that price went there.. it might have even skipped 5-10 ticks.. so just because 6e printed somewhere it doesnt mean that the m6e did.. but its prolly the case that on the dom the bid/ask it did in fact travel to those prices.. hope that makes sense..

I don't believe it's an NT issue, I'm pretty sure most trading apps plot charts using the last price because otherwise you would have highs and lows based upon the bid/ask that didn't actually occur. So you will get slipped using a market or stop order based upon what you see on the chart and/or what the autostrat sees. You could probably create an indicator to plot the current bid/ask on the chart so you can gauge any potential slippage in real time. For example, if the bid/ask is leading the price by 5 ticks or so, then place a limit order instead of a stop/market order and hope you get filled at the better price or just skip the trade. You could probably add similar logic to an autostrat. Sounds good in theory anyway, not sure if it would actually be effective or not.

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  #45 (permalink)
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Big Mike View Post
I'm going to shoot an email to Eliot just to make sure, I am curious now.

Mike

Eliot has confirmed M6E is available with Mirus.


Quoting 
Hi Mike,

Happy New Year! We currently offer the 6 micro currencies that settle in USD
at both RCG and Dorman Trading. Because of the cost of conversion, the
clearing firms shy away from the other micro currencies that don't settle in
USD.

Here are the ones we offer: m6a, m6b, mcd, m6e, mjy, and msf

These are automatically enabled for accounts, so there is no special
approval to have access to these contracts.

Full list of available contracts can be found here:
http://www.mirusfutures.com/brokerage_services/commissions/available_contrac
t_details

Our full list of contracts with the commissions and fees can be found here:
http://www.mirusfutures.com/sites/default/files/pdf/Mirus_Futures_Product_In
fo.pdf

If anyone has questions, they can call us directly at 312-423-2230 (or
800-496-1683) and talk to the Manager of Client Services, Bob Kamicar.

Hope that helps. Thanks for checking with us!

Eliot

Mike

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  #46 (permalink)
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Thanks for info regarding the "lag".


So generally using micro contracts is fine, except one has to count with bigger spread...

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  #47 (permalink)
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I've traded M6E before and found that the buyers will "come to you", meaning place a limit order @ the current bid or ask (offer price in direction of entry) and you will often get filled within a second, as these bots determine if they can profit from the spread or not.

So even if there is no liquidity advertised on the DOM, it will "come to you".

This was my limited experience.

Mike

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  #48 (permalink)
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sounds interesting:-)
Maybe worth some testing.

What approach do you suggest for exits? There the spread will be more significant.

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  #49 (permalink)
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And don't trade news, the order book gets very thin around news as the m6e seems to be mainly bots (well, isn't everything) and very little retail so they dry up around news (you can see them pulling orders big time). I have heard about getting slipped 20 ticks or more.

Mike

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  #50 (permalink)
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petrmac View Post
Mirus offers M6E, just write them an email. I did.

But the lag behind 6E makes it untradeable.


wierd.... I was told directly by Mirus that they dont offer it. Ill try again. But it doesnt sound promosing in terms of tradability.

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