Hi guys, I am learning to tape read and I am having difficulty doing this with currency futures, I focus on the yen and euro. Would I be correct in saying these markets are quite thin? Usually 100-300 contracts per level and price can move through pretty fast and I cant keep up, again I am quite inexperienced with tape reading so this is probably due to my inability, I have heard fixed income is a bit easier to read. Anyone out there trading currency futures who finds the tape useful? Should I start out with fixed income?
If you think the Yen & Euro are slow, then the 30yr bond (zb) will absolutely make you want to slit your wrist.
There's a lot of volume there, it just doesn't move much, at least my experience for day trading.
Oil is considered a thin market, but it is very fluid.
Of course, any market depends on what time of day you are watching.
The following user says Thank You to EnsoTrader for this post:
If you subscribe to Stocks and Commodities mag they have a section each month with the title "Futures Liquidity" and it compares the instruments.
The chart shows each instrument and the volume / liquidity of many of the futures instruments.
Forex is not traded on a 'central' exchange so the volume numbers on your data provider may not match the true volume.
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