From USDCAD to 6C - Currency Futures | futures trading

Go Back

> Futures Trading, News, Charts and Platforms > Traders Hideout > Currency Futures

From USDCAD to 6C
Started:August 17th, 2016 (11:35 PM) by chaching Views / Replies:182 / 3
Last Reply:August 20th, 2016 (04:38 AM) Attachments:0

Welcome to

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

From USDCAD to 6C

Old August 17th, 2016, 11:35 PM   #1 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Brokers + Kinetick
Favorite Futures: CL/GC/ZS
Posts: 12 since Sep 2012
Thanks: 59 given, 10 received

From USDCAD to 6C

Hi all,

Don't know if this has been asked in the past, I searched "6C" and found nothing.

I have been trading USDCAD for a while and have got used to reading its price action. Since IB no longer allows leveraged forex trading effective September 1, I'm thinking about switching to 6C. The good thing is its tick size has been reduced to half pip. The bad thing is given the current USDCAD price, a 20 pip move in USDCAD is about 12 pip move in 6C, and round numbers (00/50) in 6C may not be as meaningful as those in USDCAD.

If somebody has gone through this transition in the past could you please share your experiences? Is it possible to look at a USDCAD chart on the side and trade 6C with ease? Is it possible to display the reciprocal of 6C price in NinjaTrader and use ChartTrader? Any other solutions?

Right now I want to stick with IB since FXCM's commission is twice as high.



Reply With Quote

Old August 17th, 2016, 11:35 PM   #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


Old August 18th, 2016, 09:17 AM   #3 (permalink)
Elite Member
Buenos Aires Argentina
Futures Experience: Advanced
Platform: NT, MT4, Sierra
Favorite Futures: S&P, Bonds, Crude, FX
Posts: 218 since Sep 2014
Thanks: 35 given, 196 received

Your trade range will be slightly smaller since it's now CADUSD (6C) instead of USDCAD.

Your trade also settles in dollars instead of CAD.

If you're already proficient in reading USDCAD, then maybe just do the mental switch, see the trade on USDCAD, but take the 'opposite' trade in 6C.

I will trade USDCAD and 6C and EURCAD in the search for proper liquidity for Canadian dollars. You'll be fine. Just practice the inverse switch in your mind for a few days or 1-2 weeks. (And just be sure you don't end up going the wrong direction!)

Reply With Quote
The following 2 users say Thank You to MacroNinja for this post:

Old August 20th, 2016, 04:38 AM   #4 (permalink)
Elite Member
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: futures
Posts: 74 since Aug 2009
Thanks: 10 given, 40 received

I dont know why CME offer this inverse currency futures. i f they wanna settlement in USD they should create Quanto Futures for CAD,MXN,INR,JPY,CHF.

Reply With Quote

Reply > Futures Trading, News, Charts and Platforms > Traders Hideout > Currency Futures > From USDCAD to 6C

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

All times are GMT -4. The time now is 12:25 PM.

Copyright © 2016 by All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-23 in 0.08 seconds with 19 queries on phoenix via your IP