mini Euro futures

[rossored]

Not sure if this has been covered before, but...

been looking into trading FX rather than my current "tool" :cheesy: of YM as mini Dow has been a bit pants of late.

However, not sure that I like the full EUR contract on IB to start with - at least not whilst I'm learning a new instrument.

Does anyone know what the liquidity is like on miniEuro (E7) traded through Globex?

 

[rossored]

that'll be a "no" then? lol

 

[ford]

I dont have any experience with this contract, but just looking now, the bid/ask spread is pretty wide, it's 3 as I glance over right now but a few seconds ago it was 10.

I also checked the IB Beta charts, which appears to download a rather limited bit of back data and the 5min bars are completely incoherent @ under 5 contracts per bar.

The spread between the EUR and E7 contract doesnt seem that much though, so it might be possible to chart the more liquid EUR contract and place trades on the E7, provided you're ok with the spread and illiquidity.

check the IB beta charts for yourself though, quite handy that they put that in I think..

 

[sidinuk]

ford, I've just done the same thing with the charts and was about to say exactly the same as you!

Looks very illiquid and not very trader friendly, much like YM really

 

[jmreeve]

Liquidity is pretty awful compared to the big contract.

Spread is about 3 points at best and gets much worse outside main trading hours.

 

[rossored]

thanks chaps. Just looked up on IB myself.

The words "pole" and "barge" spring to mind...

Looks like more lessons the hard way in store

 

[oatman]

Easiest way is to stick it on and have a look for a month.
It's OK until you get some news or figures and then it don't arf motor. You'd better be on the right side of it :cheesy:

 

[sidinuk]

Talking of EUR, does anyone know the times that IB count as 'in hours' for margin purposes. I.E. when is the margin half the normal amount?

 

[BBB]

RR - Go for E6 (the biggie) and half your size or just trade 1-2 contracts until you get your feet.

Although I hear the E6/EC is getting fairly whippy with all the attention of late (the ever changing cycle)

 

[JonnyT]

It has been whippier in the past month or two.

I used to use a 5 pip stop now its 10!!!

JonnyT

 

[rossored]

Yeah having watched it the last few days, i was thinking I'd prefer 5-6 pips, but 10 is more realistic to save getting stopped out all the time.

 

[BBB]

Whats up with BP - smaller tick size like mini EC

 

[JonnyT]

BP is illiquid and has a rather large spread...

Well for at least the electronic version!

JonnyT

 

[rossored]

Sid, if you open up TWS, left click a product then right click and select "check margin" it will tell you the margin required to trade at that time.

prior to the US open, EUR futs require the full margin, however, and only drops to the 50% after open.

 

[sidinuk]

Thanks Rossored,

So EUR is the same as YM, ES, NQ then, 2.30pm to 8.45pm.