anyone trading the 6E

Discussion in 'Forex' started by Wallace, Jul 22, 2009.

  1. would appreciate appreciate you relating your experiences trading this market
    post or pm me if you prefer
  2. E6...error on the shortstop!

  3. ITR2744


    I trade 6E and 6J... what exactly do you want to know?

    My main reason to trade this instrument is it's trendyness compared to ES or NQ.
  4. 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.
  5. 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"

    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 ?
  6. 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.
  7. rickf


    I've only traded FX at ToS -- why is FXCM disabling stops/limit orders? That's a basic function of a trading platform!!!

    And the TF, yeah, quite sad.
  8. kxvid


    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.
  9. 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.
  10. pma


    I really like the 6e,but could never get over why the commisions are so much higher than the index futures.Same exchange (CME) so what gives?
    #10     Jul 25, 2009