Considering much of the movement in the currency markets happen during the european session do futures prop firms have traders that trade during this time? Looks like the futures on most currencies would be awfully thin during those times as well, do any of these firms trade the cash market as well?
Yes and yes. More cash than futures, but some trade futures or rather start off by trading futures then move to cash when they get good.
as long as the movement and momentum is there you should be ok. due to the spoofing by the machines, there is usually some size to be grabbed - maybe 30-100 lots. if you can hit it at market then you may be ok. its not as spiky as it is when it is thin in us hours. imo.
Thanks for the response. That is good to know, I'm interested in futures prop but find myself mostly interesting in the currencies at the moment. I suppose they can trade the cash market with very low commisions like the futures market. I would like to scalp the cash market during the european session but with the higher commisions trading the cash market vs futures it seems I can only trade when I think I can catch a possible big move to make it worthwhile.
Do you trade the currency futures during the european session much? I was wondering what the spreads on the euro are typically during this time. My impression is the euro is the only one that gets much volume... so you find the conditions good enough to trade sounds like.
plenty of volume in yen $ future too. They're good for putting stops in on each side for figures if you're not risk averse (this is obviously on a depth trader direct to the exchange as you have to be fast)
although full margin is required to trade CME futures during the european session, the leverage offered is still way more than needed. could someone please tell me the advantages of trading currencies for a prop firm?? thanks