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Trading mini euro ( E7) or micro euro (M6E) currency futures ???
Started: by rw48gmx Views / Replies:41,898 / 111
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Trading mini euro ( E7) or micro euro (M6E) currency futures ???

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

Hello,


has anybody tried it ?


Tick Value M6E=1,25 $, E7= 6,25 $. Less risk, less pain. I just simulated a few trades with ninja.


Volume very low, E7- no fill on stop limit order (maybe limit to small), M6E- minmum gain of 5 ticks to cover commissions. Found it not tradable.


Please some comments, thank you...

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  #2 (permalink)
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rw48gmx View Post
Hello,


has anybody tried it ?


Tick Value M6E=1,25 $, E7= 6,25 $. Less risk, less pain. I just simulated a few trades with ninja.


Volume very low, E7- no fill on stop limit order (maybe limit to small), M6E- minmum gain of 5 ticks to cover commissions. Found it not tradable.


Please some comments, thank you...

Not personally, but nevertheless, how are you planning to trade these? Are you going to hedge against the EUR or trade the spread?

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  #3 (permalink)
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If you need liquidity and some slippage is an issue then it's not tradeable. Same for QM. You really have to trade the big contracts.

My advice would be to trade the big contract on sim until you're confident and then trade it with real money. An intermediate step would be to open a forex account with Oanda and trade microlots where you risk pennies. But then you're dealing with a bucket shop and all the disadvantages that come with it which is why I say to do sim on the euro until you're consistently profitable.

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  #4 (permalink)
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Is the M6e the same as the micro forex currency futures?

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  #5 (permalink)
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traderandreas View Post
Is the M6e the same as the micro forex currency futures?

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.

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  #6 (permalink)
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  • M6E - Euro to US Dollar
  • M6B - British Pound to US Dollar
  • M6S - US Dollar to Swiss Franc
  • M6A - Australian Dollar to US Dollar
  • M6J - US Dollar to Japanese Yen
  • M6C - US Dollar to Canadian Dollar
The micro size currency futures are very small, with tick values of less than $1 in some cases. An example of the contract specifications for the micro size currency futures are as follows, for the M6E (EUR to USD) and M6B (GBP to USD):
  • Symbol: M6E
  • Expiration Date: June 15th 2009 (the second business day before the third Wednesday of every third month)
  • Exchange: GLOBEX
  • Currency: USD
  • Contract Value / Multiplier: $12,500
  • Tick Size: 0.0001
  • Tick Value: $1.25
  • Symbol: M6B
  • Expiration Date: June 15th 2009 (the second business day before the third Wednesday of every third month)
  • Exchange: GLOBEX
  • Currency: USD
  • Contract Value / Multiplier: $6,250
  • Tick Size: 0.0001
  • Tick Value: $0.625

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  #7 (permalink)
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rambler View Post
  • Contract Value / Multiplier: $12,500
  • Tick Value: $0.625

Thanks for correcting me, I thought the mini was 1/2 size but it's 1/10.

I still don't see any need for it though.

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  #8 (permalink)
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Yes I agree.
I was actually just responding to TraderAndreas' post about what the m6e was but you beat me to it.

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  #9 (permalink)
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Thanks for the response. I was under the impression that the new micro fx futures had great liquidity and was an attempt to take buisness from the spot forex brokers.

In light of the poor liquidity of the micros, why would you trade it?

thanks,
Traderandreas

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  #10 (permalink)
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traderandreas View Post
Thanks for the response. I was under the impression that the new micro fx futures had great liquidity and was an attempt to take buisness from the spot forex brokers.

In light of the poor liquidity of the micros, why would you trade it?

thanks,
Traderandreas

Never trade anything without liquidity.

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