Trading the Currencies

Or you can divide by 1

$/Yen 120.00

1/1.20 = .8333


Quote from FX-Trader:

Choose something with tight spread like EUR/USD and trade when NY or/and London are open. Spread for EUR should be 2 to 3 or even 1 tick(s). The Yen is also liquid, but you always have to fight with a lot of zeros and IB account statements do not show the last 2 digits (AFAIK). Much nicer to see Yen quoted as USD/JPY ~ 120.00 in FX spot market than those CME futures with JPY/USD ~ 0.0000something.
More...
 
Quote from FX-Trader:

Choose something with tight spread like EUR/USD and trade when NY or/and London are open. Spread for EUR should be 2 to 3 or even 1 tick(s). The Yen is also liquid, but you always have to fight with a lot of zeros and IB account statements do not show the last 2 digits (AFAIK). Much nicer to see Yen quoted as USD/JPY ~ 120.00 in FX spot market than those CME futures with JPY/USD ~ 0.0000something.
More...
FX-Trader,

Interesting point. Any specific contracts you would recommend? For Euros, Swiss Frank, Yen, British Pound, other? Thanks.
 
Thanks guys. I really appreciate your help. :)

I dug deeper in the CME website, as suggested, and found lots of stuff. Then, I exchanged e-mail with them (the CME people were very helpful) and also used the IB website and got the rest of the information I needed.

What I'm doing now is test my system on the Euro futures - it tends to trend a bit better than the S&P and I'd like to see if I can be more profitable trading that instead of the ES. Much less liquidity, but it may still be sufficient for what I'm doing and the way I enter and exit the market.

Best of luck in your trading. :)
 
The one interesting product from the NYBOT (Finex) is the future on the Dollar Index (DXY). It's a geometrically weighted index and the weights are made up to represent 'trade-weights' between the U.S. and its trading partners.
0.01 tick value is $10.
It's useful if you want to trade USD vs a whole basket of other currencies, although I don't like the weights too much the way they are (Swedish krona weighs more than Swiss Franc, Euro and Yen are overweight)
For liquidity reasons, I still prefer the currency futures on Globex.
 
You must log in or register to reply here.
Back
Top