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Trading mini euro ( E7) or micro euro (M6E) currency futures ???
The source of the info is from Gain/FXCM's own reports to the CFTC. So if they report any of that information, it's probably available from the CFTC.
I'm sure that CME commissions would total much less - because retail traders' net losses are included in the forex brokers' numbers. CME would only be commission - without accounting for profit or loss.
That's not to say that the typical retail futures newbie loses less money than the typical retail forex noob - it just doesn't go into CME's pocket.
OK well just for sake of comparison, $2750 would be 550 trades @ 5.00/RT. Let's say the average account lasts six months, that is roughly 120 trading days and roughly 4-5 trades a day.
Since new traders always over trade, I wouldn't say it is out of the realm of possibility that new traders often spend this much on commissions when trading futures.
But it is probably on average something like half this figure, if I had to guess.
Of course the broker is keeping only $1-$1.50 or so per trade in commission costs, rest are CME fees.
What you've said here is not possible - at least not with any of the brokers I've used. If you have a stop LIMIT then you are either going to get filled at that price or better. You are most likely using stop MARKET orders - there is a critical difference and some platforms default to stop MARKET rather than LIMIT. Again, I don't recommend using market orders for this contract.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
I am looking to trade M6E on a system I developed on 6E, do you think that it would be OK or just trade the large contract. I would be more comfortable with smaller risk. But because some people said if 6e prints a price m6e may not, does how would that effect my completely automated system?
I dont know if this is the right place to ask so delete if irrelevant.
Hi
If I had to trade the M6E again I would trade only the most liquid times of the day ( Late London, early NY). But avoid for day trading.
Good luck
Kareem
I understand Mirus has 2.50 commission on M6E and the same is for E7, but I guess there are also exchange fees.
Can someone who is with Mirus confirm this?
Sorry I don't use Mirus, but pay about the same with infinity. They all should be similar. I am swing trading the micros now, and they are liquid enough to day trade late London, early NY.
