Sounds like a great reason to trade Forex Futures on a regulated market
such as CME where the broker has NO interest in such games.
Best regards,
Richard Dale.
Norgate Investor Services
- Premium quality Stock, Futures and Foreign Exchange Data for
markets in Australia, Asia, Canada, Europe, UK& USA -
www.premiumdata.net
-------- Original Message --------
Subject: [amibroker] Re: inconsistent EOD data
From: Matthias <m.kusche...@yahoo.com>
To: amibroker@yahoogroups.com
Date: Wed, 14 Apr 2010 05:38:00 -0000
There is literally NO workaround to the problem you just described. I
agree, due to different timestamps of data, especially with finam
(Russia) these differences can be explained. But this issue becomes
more and more unpredictable the shorter the time frame you are
trading, i.e. one minuter or one day. 10 pips on a daily move just
don't mean that much as on a 1 minute chart especially on news
releases or at important support/resistance levels. But it's already
been mentioned: go for futures at the CME, this market is regulated
whereas the brokers simply are not.
Or to put it in different words: FX is an unregulated market where
banks can make up the price they want within certain limits
(especially at an accumulation of stops).
Something more to worry:
http://www.forexfactory.com/showthread.php?t=70582
<http://www.forexfactory.com/showthread.php?t=70582>
Well that's kinda nasty, but it's true when dealing forex.
In his book "Beat the Forex Dealer" by Augustin Silvani, he even
explains that a well known FX-Broker, called FXC(guess the last
letter) state that these folks are big on advertising
"no-dealing-desk-execution" whereas no dealing desk only means that
the desk has been replaced with a sophisticated algorhitm that's run
by a computer.
Suggestion: Trade breakouts in the direction of the breakout on
shorter time frame or benefit from the longer term trend.
PS Finam uses indicative data, thus it's sort of a extra-multi-bank
composition. If you use other brokers, they might get their quotes
from a more limited number of "source banks". In FX: the only quote
that counts is the quote of your broker, so be wary when buying data
from different vendors other than the broker you are dealing with.
Regards,
M.
