I am pleased to announce that we are now grid trading with micro futures. I have been testing the M6A (Aussie Dollar), M6B (British Pound) and the M6E (Euro Dollar) with much success.
I am able to grid trade these markets because of the low margins. In fact, I am incorporating a bit of Martingale technique into my trade model. This is important because it get's you out of the market much quicker. You will need this because futures contracts have an expiration every 30 days.
After one week of trading in all three markets, my longest hold was less than 48 hours, as you can see by the screenshots below. My average turnover time is somewhere around 2 hours.
All trades you see below are winners. I do not use stops. This is grid trading. Scale in, cover then reverse and start the process all over again.
Accumulate, Cover, Reverse
The most contracts bought at one time in this trial run was 20. With margins at $50 that equals just $1000 risk. The really cool thing is that this was during a big fed news week. This gives you a good indication that you can handle wide ranges (news day).
Knowing this bit of information now allows you to trade, pardon my french...balls to the wall, 24/7/365.
M6A (Aussie Micro)
M6B (British Pound Micro)
M6E (Euro Dollar Micro)