The difference between Forex and futures symbols

The difference between Forex and futures symbols

The difference between Forex and futures symbols

In this article, we will examine Forex and futures symbols. Because the names of currency pairs and indexes are different in the forex and futures market, it is necessary to get familiar with these names. For example, the EURUSD currency pair is displayed in the forex market with the symbol 6E in the futures market.

In the following, we will examine the chart of these symbols in the forex and futures market. If you remember, we said in the previous article that we analyze the volume trading method in the futures market and trade in the forex market, and now we will answer this question: do we have the same price chart or different?

In the following table, the abbreviated display of the months in the futures market is shown:

JanuaryF
FebruaryG
MarchH
AprilJ
MayK
JuneM
JulyN
AugustQ
SeptemberU
OctoberV
NovemberX
DecemberZ

Futures symbols have specific maturities and these contracts expire in specific months of the year. After the contract expires, traders move to a new contract to trade on the futures symbol (for example, gold or GC), or the so-called Rollover contract.

In order to be able to see the complete list of futures symbols, it is sufficient to refer to Ninja Trader in the Tools section, then Instruments.

The difference between Forex and futures symbols

We have some symbols whose price chart in futures and their chart in Forex are mirror images of each other. Like 6C, which is the symbol for the Canadian dollar in futures, in Forex the symbol is USDCAD.

Now let’s examine the chart of futures and forex symbols:

In the Ninja Trader platform, we select the 6E symbol using the new option and then Chart. Then, go to Meta trader and open the EURUSD chart so that we can compare these charts with each other.

The difference between Forex and futures symbols 2

The chart on the right is Meta Trader and the chart on the left is Ninja Trader.

If you look carefully at the picture, you can see the similarity of the charts. The ups and downs of the harmony with each other are clearly visible. Even the candles are similar to each other.

The difference between Forex and futures symbols 3

One thing to note is that you may see the price differently, but the charts move exactly the same way. Sometimes in forex we see different candles from the futures market, which is due to the price manipulations of forex brokers. Only by choosing a good and experienced broker, you can see these events less often.

Below is an image of a symbol like 6C, which is a mirror image of the forex and futures charts: in futures, the price is upward, but in forex, it is downward and vice versa.

The difference between Forex and futures symbols 4
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