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CME to launch Forex E-micro Futures…bucket shops slaughter?

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fx-211bannerCME announced the launching of Forex E-micro Futures before the end of Q1 2009.  What’s the catch of this?  Well, the basic message for retail traders is : Trading your mini lot on regulated futures market, e.g trading Euro futures with $1.25 per tick.

Six Currency Pairs. Quoted in Interbank Terms. The Largest Regulated Forex Market.
If you would like to trade in a regulated, secure Forex market, get to know our new Forex E-micro futures, traded at CME. One-tenth the size of our standard Forex futures. One-tenth the risk exposure. All of the access to our highly liquid markets.

CME will be launching Forex E-micro futures before the end of Q1 2009 on the following currency pairs:
EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, USD/CHF

Full details here

Instead of fighting with the retail forex brokers, known bucket shops, maybe trading the regulated futures market is a better choice. Your choice. I guess this is a good move to make retail currencies trading environment a little better.

Weekly wrap up

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Nothing really new. I am trapped and exhausted. I am talking about my day job. What can you do when you are working in an environment where there is an obvious skill incompetency in the team?  I don’t know. I am not complaining too much since I am an independent professional. I do whatever I am supposed to do , and leave. The job just makes me tired and sick.

Trading front, I am not too active this week.  Made 3 short term GBPUSD trades during London sessions, 2 winners, 1 loser. Nothing much to talk about. I am starting this type of short term trading, experimentally, as I foresee in the near future, I might have the luxury to spend more time in front of the screen.  ATS is still work in progress. I am running the system, analyzing the signals, but , not making live trade.  It is really easy to create a system or a program to generate trading signals. But, it requires a lot of energy and time to manage the trade when the signal comes. Given my current condition, I will screw up good signals.

I am studying some patterns in oil futures now. Probably I will post 1 or 2 findings here later, well, if I find it appropriate.

All right, it is time for me to make my Espresso, and enjoy the Sunday morning. It is 9:20am at Melbourne now.

Have a good weekend, and good trading week ahead.