Which FX Future Contract to Choose

[shreem 10]

Hello to all. As I am new to undertstanding future market and how it works, i have a question for you future traders.

 

If I want to trade EURO FX or EC which contracts should I use to base my volume on? Is it the ECM09 which expired like next week or the ECU09 which expire in september?

 

Another question linked to the first one, if we were in let say, middle of may, which contract should be used, the ECM09 or the ECU09 one?

 

This is very important for me as I trade spot fx but use volume data from CME, I want to be sure of which contracts to use when calculating volume peaks period.

 

Thanks so much in advance

 

Sincerely

 

Shreem:)

[brownsfan019 17]

Just trade the one w/ the most volume. On your charting platform, check intraday volume w/ the current month and the next month out. When the next month out has more than the current month, time to move on.

 

Example:

 

Current contract has 50,000 contracts traded at 9am EST.

Forward month has 15,000 contracts at same time.

 

= trade current month

 

 

When those numbers flip flop, go to the new contract.

 

And if you happen to be trading the contract that is going to expire soon, it's not a big deal if you are daytrader. Sooner or later you'll notice the dom become empty and then the light bulb should go off.

 

:idea:

[shreem 10]

Hello Brownsfan019. thanks a lot for your answer. Really much appreciated. Your answer makes a lot of sence and will definitely do that.

 

I have another question for you. I heard that OEC has charts that you can pay monthtly fees to have access to even if you dont have an account with them.

 

Is that true and if yes, do you know how much it costs per month?

 

Thanks again.

 

Shreem:)

[brownsfan019 17]

  shreem said:

Hello Brownsfan019. thanks a lot for your answer. Really much appreciated. Your answer makes a lot of sence and will definitely do that.

 

I have another question for you. I heard that OEC has charts that you can pay monthtly fees to have access to even if you dont have an account with them.

 

Is that true and if yes, do you know how much it costs per month?

 

Thanks again.

 

Shreem:)

 

Yes it's true and that includes real-time data. I believe it's $25/mo or something like that. Very good option for those wanting real-time charts/data and don't want to pay $100+ to dtn or some company.

[shreem 10]

Hello Brownsfan019. Thanks a lot for your answer. Think will get their charts per month fees as it is verty reasonable.

 

I think you are using them as a live broker, how do you like them?

 

Thanks again Brownsfan019 for your help on those questions. Much appreciated

 

Shreem:)

[brownsfan019 17]

  shreem said:

Hello Brownsfan019. Thanks a lot for your answer. Think will get their charts per month fees as it is verty reasonable.

 

I think you are using them as a live broker, how do you like them?

 

Thanks again Brownsfan019 for your help on those questions. Much appreciated

 

Shreem:)

 

I've been using OEC for awhile now and very happy there. I like the setup.

 

[shreem 10]

Hello Brownsfan019. Thanks for your reply. Yep, they seems a good broker for future trading. Unfortunately, they dont accept canadians as customers and they directed me to ACTbroker for canadians that also use the charts from OEC

 

So, will see

 

thanks again

 

Shreem:)