anyone trading the 6E
- Thread starter Wallace
- Start date
E6...error on the shortstop!
OOPS !
at least you know what i'm trying to talk about Xspurt - thanks
asked for the title to be changed to 6E
ok, last year i demoed NinjaTrader/Mirus trading the ES, now have a new computer to
handle nt and for some reason decided to compare the daily $ range of the ES vs 6E,
only did it for June and discovered that the 6E average daily $ range was 2.5 times
greater than the ES:
June monthly total: ES $20,725 vs 6E $53,550 . . . 22 trading days: $942 vs $2434
i guestimate the daily volume of the 6E at about 180k vs 2.5m for the ES
what i'd like to understand better are the dynamics of the 6E market
by that i mean it seems to be 'hurry up and wait . . wait . . . ' then BANG, it takes
40 minutes for the price to rise 12 pips then in 1 minute it's back down 12 pips ???
Wednesday night i have 2 long, i need to take a leak and close the trade at a loss of
$100; take a leak, come back to the screen and it's up $200 from my original entry -
figure that was a $300 leak !
Thursday i enter 2 short, small rally and enter another 2 short. i'm hungry and decide
the price is going to dick around for half an hour, i'll make an egg on toast. go to the
kitchen, plug in the frying pan and toaster, get an egg, butter and slice of bread from
the fridge and look back to the screen. 'what . . . ' looks as if the image has been
minaturized, go back to my desk, grab the mouse while seeing the price has dumped
and close the trade at a profit of $1,400+. kitchen, fry egg, toast butter bread, salt and
pepper, desk, sit in chair, and if i'd let the trade run it would have been up another k,
of course if i'd worked out a target price before the trade . . .
i did an analysis of 60m chart to find out when the largest portion of the daily $ range
was occuring and decided it was between 11pm and the close, PST. so i thought ok,
being located in Vancouver, Canada i'll trade between those hours, sleep for 6/7 hours
from 3pm. well forget it
so i'm going to have a look at the 60m chart again and see what's available from the
early - but not that early - morning till 11pm. i wouldn't be happy allowing a trade to
continue while i sleep, tho it only happens occasionally the data feed, Globex, ISP
feed etc can go down (or news event) and i'm not prepared to take the risk of a severe
loss when i'm not there to offset the trade elsewhere
now on the demo, i usually get a +/- 1 pip fill, and always get a fill using market orders
trading off a tick chart
so i'd like to know:
1: who is trading the 6E ?
"Long and Short Positions in CME Euro-FX Futures by Trader Category"
http://www.cftc.gov/OCE/WEB/euro_fx.htm
2: what's with the 'hurry up and wait' price movement ? the 'instant' dumps/rallies
3: is there a 'best' trading hours period ? i note that the most of the daily volume
appears to occur at 8 or 9am PST
4: are market order fills given at the current price ? are fills more difficult during the
overnight session ?
at least you know what i'm trying to talk about Xspurt - thanks
asked for the title to be changed to 6E
ok, last year i demoed NinjaTrader/Mirus trading the ES, now have a new computer to
handle nt and for some reason decided to compare the daily $ range of the ES vs 6E,
only did it for June and discovered that the 6E average daily $ range was 2.5 times
greater than the ES:
June monthly total: ES $20,725 vs 6E $53,550 . . . 22 trading days: $942 vs $2434
i guestimate the daily volume of the 6E at about 180k vs 2.5m for the ES
what i'd like to understand better are the dynamics of the 6E market
by that i mean it seems to be 'hurry up and wait . . wait . . . ' then BANG, it takes
40 minutes for the price to rise 12 pips then in 1 minute it's back down 12 pips ???
Wednesday night i have 2 long, i need to take a leak and close the trade at a loss of
$100; take a leak, come back to the screen and it's up $200 from my original entry -
figure that was a $300 leak !
Thursday i enter 2 short, small rally and enter another 2 short. i'm hungry and decide
the price is going to dick around for half an hour, i'll make an egg on toast. go to the
kitchen, plug in the frying pan and toaster, get an egg, butter and slice of bread from
the fridge and look back to the screen. 'what . . . ' looks as if the image has been
minaturized, go back to my desk, grab the mouse while seeing the price has dumped
and close the trade at a profit of $1,400+. kitchen, fry egg, toast butter bread, salt and
pepper, desk, sit in chair, and if i'd let the trade run it would have been up another k,
of course if i'd worked out a target price before the trade . . .
i did an analysis of 60m chart to find out when the largest portion of the daily $ range
was occuring and decided it was between 11pm and the close, PST. so i thought ok,
being located in Vancouver, Canada i'll trade between those hours, sleep for 6/7 hours
from 3pm. well forget it
so i'm going to have a look at the 60m chart again and see what's available from the
early - but not that early - morning till 11pm. i wouldn't be happy allowing a trade to
continue while i sleep, tho it only happens occasionally the data feed, Globex, ISP
feed etc can go down (or news event) and i'm not prepared to take the risk of a severe
loss when i'm not there to offset the trade elsewhere
now on the demo, i usually get a +/- 1 pip fill, and always get a fill using market orders
trading off a tick chart
so i'd like to know:
1: who is trading the 6E ?
"Long and Short Positions in CME Euro-FX Futures by Trader Category"
http://www.cftc.gov/OCE/WEB/euro_fx.htm
2: what's with the 'hurry up and wait' price movement ? the 'instant' dumps/rallies
3: is there a 'best' trading hours period ? i note that the most of the daily volume
appears to occur at 8 or 9am PST
4: are market order fills given at the current price ? are fills more difficult during the
overnight session ?
Quote from rickf:
+1 on monitoring this thread. I am considering the /6E as an alternative to the ES and have been watching it for a week or so now to get a feel for it. Good liquidity --- almost twice as much daily volume as the TF, which is amusing.
Curious how others view it as well.
I trade both the 6E as well as the spot. As FXCM is disabling stops and limit orders next week I will probably go back to the 6e for almost all of EURUSD trades. I have no problems at all trading it.
The TF is funny, and sad. The folks at Russell must be kicking themselves for taking the contract away from the CME.
The 6E is a speculators dream instrument. Expensive ticks, low margin, big range and trend. If you go from trading index futures to /6E you will probably be glad you made the switch. There is lots of coin to be made in this market, just be careful to set your stops before and NOT move them.
FXCM seems to me to be the most backward company technologically. Instead of updating their paltform in response to the new NFA FIFO regulations to accept contingent oco orders, FXCM has decided that OCO stop loss and limits will need to be manually entered after a position is established.
I like FXCM, but they are going through a "Russell Moment" here where they are making a decision that they think will be to their benefit but is going to have the result of driving traders to other brokers with more appropriate platform functionality.