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6E personality?
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6E personality?

  #1 (permalink)
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6E personality?

How does euro futures(6E) trade? Similar to ES or closer to crude.i assume ES cuz liquidity but just checking.thx

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I'm no expert but I think 6E trades much more erratically than ES. A lot more and more dramatic and fast stop runs and traps. That is why I stopped trading it. The ES is much more predictable to the point of sometimes being boring.

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Almost every market trades a little differently from another. Almost every market shares some similarities to all markets. ES is different from 6E, which is different from CL, which is different from TF, which is...

ES is a slower, back and forth, level respecting market. It has so much volume, it moves more to the beat of 100,000 drums. There is nothing I have found like it, except maybe notes/bonds (like the sloth of markets)

What do you want out of a market?

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I dont think that anyone can tell you what it is. You really need to measure it yourself, and to do that requires the dreaded HOMEWORK. Yep i said it. I never trust things especially if they come anecdotally like, this market always back and fills or that market is really trendy and breaks out all the time. Really you need to measure it yourself and quantify some certain characteristics and do it across the array of markets your interested in. Things like volatility, directionality, trendiness, seasonal characteristics, correlation to other markets, etc... what you really need to do is define how you look at those things and measure it yourself. I always start with a basic "data mine" and look for the above things. I like to do it myself because not only do i know how its calculated and how every measurement works. But I can update it and watch how certain trends or market tendencies are changing. Here is one of the more basic spreadsheets i put together for 6E last year you can use that as a jumping off point.
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I asked this ? Cuz when I look back at my charts I thought it was mistake. So I got up at 3 am east my time.and watched it live. No mistake, it blows no movement. I won't touch it. I think there is more movement in ES at that time and definitely more In crude.

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roach1972 View Post
I asked this ? Cuz when I look back at my charts I thought it was mistake. So I got up at 3 am east my time.and watched it live. No mistake, it blows no movement. I won't touch it. I think there is more movement in ES at that time and definitely more In crude.

That is definitely incorrect. In general 6E will have more volatility than ES. Using the Average Daily Range measurement (not true range) using a 30 day look back. we see an 85.7 tick daily range in 6E we see 16.02 Pts or 64.08 ticks on ES. So 1 day does not a sample make. Nor does just looking. But using concrete measurements across an array of markets like i mentioned above will give you answers. Yes Crude is much much more volatile at about 219 ticks per day. But again making blanket assumptions i think can lead you down the wrong path.

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roach1972 View Post
I asked this ? Cuz when I look back at my charts I thought it was mistake. So I got up at 3 am east my time.and watched it live. No mistake, it blows no movement. I won't touch it. I think there is more movement in ES at that time and definitely more In crude.

LOL, understandable the way you feel. I too have observed that of late the 6E moves are quite constrained compared to the times of massive news (IE: Greek debt crisis). Hang in there, them thar europeans will stir up the honeypot again soon, its just that they are all on vacation

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There are better alternatives

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Hi roach1972,

I personally don't recommend trading currency futures, because I came from a Forex background, and after extensive analysis of the correlation between the prices of Forex and Currency Futures, my can tell you that Forex is the dominant force behind both of their price movement (but I don't recommend trading Forex either).

I started trading Currency Futures instead of Forex hoping that the Time & Sales can assist me in my currency trading, but I was very disappointed to find out that it couldn't.

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Hi roach1972 is correct about the forex correlation.

6E is based off the euro usd pair and forex is a different animal.

I cant get a handle on currency, but do well with crude oil.

the advantage of currency futures over forex is that the futures puts you in the 15 % tax bracket with mitt romney.
the 6E future has an immediate 10 % gain over forex just on the tax break alone.

I was able to adapt an automated strategy to work on the currency futures, but most of them did not produce enough revenue.
The australian dollar was the best performer. Some consider it the chinese dollar.

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