I am looking for recommendations / info / feedback from someone who trades CME Globex 6C in an Interactive Brokers account. Spread / volume / total cost / rollover strategies / standard vs E-Micro and any other useful information you guys can share. TIA.
I believe the 6E is more liquid. Haven't looked at the FX futures in quite a while, but recall it having good price action, relatively speaking to the others. And the 6J.
I believe in my heart of hearts that I just posted alternatives to the 6C in the CME FX futures market you are trading. I apologize for being so blind in not seeing that you must be looking for alternatives to trading the 6C someplace other than the CME. Whoopsie Daisy! I apologize.
I concur... 6C is low man on the totem of major pairs. 6E, 6J, 6B, and 6A, all have better daily volume. As for micros, only M6E is worth looking at. Volume is minimal, but much better than other micros. The other micro component is tick values... with a beneficial commission at retail, micros can work with a 2 or 3 tic RT BE... M6E has the best tic at 1.25 usd. The other micro-majors are only 1.00 usd/tic. Commission concern should be applied to micro gold too, and really, anything micro... they purely exist for retail. Micros are great to "practice" live trading... all for the cost of a Taco Bell dinner for 4 would be my expectation! Alternative might not be the best word to use, but 6A is also considered a commodity and resource based currency. Once there, 6N becomes a logical look too. I might add, the 6A also has active trading hours conducive for overnight trading in the US.
Guys, the intent here is to hedge Canadian capital invested in US securities. Using Canadian Dollar Futures is the most effective way to achieve the task. Can we go back to the initial topic, please?
Well, why did you not mention this in the first place? Do you remember your first post? It is only 14 hours old... "I am looking for recommendations / info / feedback from someone who trades CME Globex 6C in an Interactive Brokers account. Spread / volume / total cost / rollover strategies / standard vs E-Micro and any other useful information you guys can share. TIA..." You neither asked a question, nor alluded to a question there, in your first post. So now it comes out that you are looking for a way to hedge against the 6C. Thank you for clarifying. I would suspect that against the CAD, it would be the GC and CL. From what little I know, the Loonie is closely correlated to (the rig counts by Baker Hughes and thus spot price of CL), and somehow more loosely related to GC.
I'll disagree with you there on micros...MGC is totally viable. Granted, that is not a currency micro, but a micro nonetheless.