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brownsfan019

Market Wizard
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Everything posted by brownsfan019

  1. Obviously we have different views of forex, but I really started this thread as a way to discuss the EC. I guess that could probably be another thread in itself - forex vs currency futures. Good trading.
  2. notouch - we'll see about FX Marketplace. Till then, the EC is plenty for me when also trading the US indexes.
  3. I have visited the chat room recently and was surprised that no one was familiar with or trading the Euro FX contract. For information purposes, thought I would start a thread here for current and future use. In a nutshell, the EC is similar to the Eur/Usd in Forex trading. The obvious big difference being that the EC is traded at the CME and is under the same regulations as the other contracts being traded there. I personally do not touch Forex due to the lack of regulation currently there. The EC provides a way to trade in currencies with the same futures brokerage account you currently have and diversify into currencies. Here is a link to the CME site on the EC: CME Euro FX Futures & Options In my trading, here are my observations on this contract: • It has the potential to trend much more than the US indexes. • Each tick is $12.50, so if you like the ER2 at $10/tick, this may be of interest to you. • It does not move in conjunction with the indexes, thereby providing an instrument to trade that is ‘independent’ of the US indexes. For me, this has provided trading opportunities when the indexes are not providing much action. • The volume is good – approx. 150,000 contracts per day currently. This is more than YM or ER2. • Commissions are slightly higher than on the indexes since this is a full-sized contract, not a mini. There is a mini-EC; however, the volume there has never taken off. While the commissions are higher, any good broker will negotiate based on your expected trading volume and they ARE NOT that much more than indexes, regardless of what your broker may tell you. • Depending on your charting platform, you may already have this feed or need to turn it on. I have traded the EC for well over one year now, and it is a perfect addition to the indexes that so many of us trade. While the Forex arena is not for me, this contract provides a way to enter the currency market without entering something so unregulated. Now, once the CME FX Marketplace is up and running, that may be a different story (Reuters and CME To Create FXMarketSpace). Good Trading! Note: Some charting services do not use EC for the ticker symbol. When you do a symbol lookup, make sure to seach for the Euro FX contract, not the mini.
  4. Hey guys, I use a platform called T4. It's like an XTrader knockoff. You won't find it called T4 at brokers as they allow the broker to brand it as their own. I use Mirus Futures and Dorman Direct (the branded T4). You may want to take a look at that as well if you are going to compare. I love it. Here's a link directly to T4: Home - CTS Here's how you can get a sim thru Dorman: https://www.dormandirect.net/Register/ Should you decide to use it, I would ask that you at least consider going thru Mirus as they have been excellent to me - good rates and good customer service. ProActive Futures is also a good IB in my opinion. I should note that you can easily alter the appearance and look of T4. I hate the initial default the program uses, but with some clicks and dragging, you can customize this like you wouldn't believe. Also, not sure if this is of use or not, but for tape readers they have some volume things you can have right on your dom. Again, I don't use it, so not sure if that's useful or not. Also, this is probably the main reason why I use it - all of your orders rest on T4's servers, not your computer or the exchange. If something goes down - you or the exchange, your orders still are out there. This is important to me b/c I use smaller profit targets and stops. I set my orders up on an OCO and then I know I am good to go. If something happens on my end, my orders are out there and set to OCO.
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