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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?
Can you help answer these questions from other members on NexusFi?
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.
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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