Trading micro contracts to scale your position

Alright folks, today we’re going to revisit a tray that did analysis on last week and is in the euro currency six E. And last week talked about looking at a potential long trade here above the 111 30 area. Now I am not long right now we’re trading 111 85 111 90 Not long, looking for a retracement back here at about 111 30. Now, based off the 123 pattern that we can see here, we’re looking for a projected target of around 114 35 114 35. That puts us right here into this nice key level area, she had 200 Day sloping down as well. So this is going to be a good target. So the tip, so what that means in dollars is we take this 114 35 114 35 Target subtracted minus the entry, which is about 111 30 minus 111 30. That’s about 300 ticks of potential profit. Now each tick in the euro currency is $12.50. So we take 300 times 12.5, we’re looking at approximately a $3,700 potential profit 3007 50 to be exact. Now there are multiple ways that we can trade this is a they’ve got a mini euro currency, which is half the size $6.25. We also have a micro contract the M six e which is a 10th of the full size. So if I told you that this full size is $12.50, a micro would be $1.25 a tick, so $375 Compared to $3,750. I really liked those micros they’re, they’re quite liquid gives you a chance to trade multiple contracts, and give you the ability to kind of be more flexible to scale in and out of contracts as the market moves in your favor, and I’ll be back tomorrow showing how we can use how we can play this trade using options on futures options on the Euro occurs now to be doing a free presentation on Thursday, March 31, at 2pm. Eastern, where I’m going to talk about how I found that setup in the euro currency as as well as numerous other trades that happen every single day every week and every month I’m going to hyperlink you to this page I’m going to do is click the orange budge orange button to register and I look forward to seeing you there