It's been a few months since this thread saw some life, but thought I'd give it a friendly bump since we've had a number of new members and discussions going on since then.
As I mentioned in another
thread today, I've given some serious consideration today to adding the Euro back into my trading mix. In a nutshell, I honed in on the ES for most of this year and while that has worked well, you sometimes revisit your past 'flames' and see how she's doing...
The Euro is a very nice futures contract that can add a way to diversify your day-trading dollars. I'm a big believer that if you are going to trade in multiple markets in an active day-trading biz, that finding markets that are not highly correlated is essential. In other words, markets that do not resemble the ES, YM, NQ and/or ER2 if that's what you are currently trading. We mind as well through the
Stoxx and
Dax in there as well since those charts resemble the ES during US trading times.
When this thread was initially brought up and I was in the TL chat room a few days (not sure if that's being used currently or not), the Euro got some interest from the Pivot guys and the Market Profile guys as well. I think that's b/c it has decent volume (see screenshot) and decent moves. One thing that you will see if you watch the EC (also referred to as 6E on some charting platforms) is that it can get into some nice, intraday trends. Depending on how you trade, that can yield some impressive results. For example, today (8/31) I had one trade that dropped and netted out approx 42 points. That's nice.
After that, it was some small gains, small wins, but after a +42, it would be hard to have a down day.
I also mentioned in another thread to MrPaul that the EC could be a possible substitution for the ER2 traders that are losing trading access with the ER2 move to ICE. @ $12.50/tick, it's actually worth more!
An EC/6E daily chart for your viewing pleasure...
