Lets assume that the 6E moved 31 pips in our favor The " Value " of the 6E is $125,000 To figure out how much we made, do we just multiply........ $125,000 x .0031 ? And what about or the Micros ...... the 6E micro = $125 ......... so is it $125 x .31 ? Thanks so much for the help
6E = $6.25 per tick per contract: http://www.cmegroup.com/trading/fx/g10/euro-fx_contract_specifications.html 6A = $10 per tick per contract: http://www.cmegroup.com/trading/fx/g10/australian-dollar_contract_specifications.html 6J = $6.25 per tick per contract: http://www.cmegroup.com/trading/fx/g10/japanese-yen_contract_specifications.html 6C = $5 per tick per contract: http://www.cmegroup.com/trading/fx/g10/canadian-dollar_contract_specifications.html 31 x $6.25 = $193.75 per contract.
6E Micro... http://www.cmegroup.com/trading/fx/e-micros/e-micro-euro_contract_specifications.html 31 ticks in M6E is 31x$1.25 = $38.75 per contract. The underlying matters not when trading futures. Stop focusing on it. The only reason you would care about the underlying is if you wish to hold a futures position past it's Last Trade Date.
By the way, beware the comparative lack of liquidity with "micro" futures. Depending on the type of trading you're trying to do, it can matter a lot. It may sound opinionated to you (and if so I apologise for that) but IMO people without enough capital to trade E6 safely, at $6.25 per tick, probably shouldn't be trading futures at all. I'm "just saying": don't imagine that trading micro futures is any kind of realistic "back-door entrance into trading futures for the undercapitalised".
They didn't decrease the size of E6 when they halved the tick value though. The micro futures are still 10% the size of a normal contract, which is a pretty substantial difference.
%% Most medical doctors are good @ analysis, md 2324; RSI may not be the best, but relative strength is a valid concept.Most medical doctors take on ed debt+ get by with it, but few, NOT many or any trading that over leveraged stuff. Some tocks, CME stock, some derivatives will work ......... NOT a prediction. I figure you are a medical doctor but even if I'm wrong you live in Maryland ;the rest is right, as far as probabilities.
%% I wondered if he had enough capital , if he was an medical doctor, he might?? NOT that he should, just because he could !! Some went to medical school without debt. Some were sent without debt.I also meant to write, about 7 days ago = ''100% of foreclosures are caused by debt''
You might be coming fro forex markets. FYI some CME currency features contracts have ticks that would be equivalent of 0.5pip while others tick more like "full" pips. Make sure you don't confuse the two. For example: making 31pips in Eur/Usd would be equivalent to 62 ticks in 6E. However the value of the underlying contract 6E is 125,000 Euro (not $), as opposed to 100,000 for Eur/Usd. Hence the Eur/Usd pip value ($10) does not equal 2 ticks in 6E ($12.50).