FOREX Real-Time Data Providers: Learn What Is Best For You
Many articles have been written on the subject of FOREX trading. The vast majority of them have detailed analysis advice as well as investing tips. What just few of them found interesting enough is the subject of selecting the right real-time data provider. Simply stated, this is the software platform used to deliver quotes and charts, together with various technical indicators for each currency pair. While real time FOREX quotes are available free of charge from many sources, as Bloomberg and Reuters, and various FOREX brokerage houses, the real need is for a comprehensive charting package. As FOREX trading is essentially an intensive short-term speculation, the Technical Analysis approach is what a professional operator needs. This must be delivered through a stable and reliable real-time charting platform. Even if the advertisements may be appealing for most of them, some key characteristics must be checked, in order to make sure you get the best price/content ratio. Ranging from free to several hundred dollars a month, they offer various levels of proficiency, regarding the number of currencies pairs, frequency of their updates, number of contributors and technical analysis capabilities. There is a huge difference between a provider that offers updates from just one stream every minute and another one feeding your platform 10 times a second from 50 interbank players. With the first one, you will obtain a valid quote but you will not feel market’s rhythms, which are of utmost importance in gauging various games people play when speculating. This is particularly important immediately following news announcements, as key players implement their trading strategies. While simple platforms will exhibit a “jump” in the price from one minute to the next, the professional ones will clearly show the tension and “fight” for each PIP in the arena. Usually, brokerage houses offer some basic packages free of charge and use their own data feed to update the programs, but you will have just limited understanding on what is really going on. Thanks to more than 10 years in the market, I believe you will be better off with a subscription to an independent real-time data provider. Even if the cost is higher, the performance is far superior. As this is their primary business, they tend to allocate important resources to you as a customer and of course, they update and improve their platform on a regular basis. Because I will avoid advertising any company names on this article, I will just invite you to consider asking the following questions before deciding. Web-based or desktop-based platform. While the first one is more mobile, the second one tends to have more features. Number of regularly updated currencies pairs. The key is to have at least the majors regularly updated (EUR/USD, GBP/USD, USD/JPY, USD/CHF), but of course, the more pairs the better. Number of real-time data contributors. The bigger the better, as this will offer larger exposure to the trading community. Number of updates per minute. The bigger the better (strongly influenced by your internet connection), as this will help you “feel” the market. Number of technical indicators and analysis instruments (trend lines, time intervals, Fibonacci Levels, printing, colours, etc…). The bigger the better, as your analysis potential is increased. Technical support available at least during market hours. It is of paramount importance to make sure you have a comprehensive technical support, in case something goes wrong during your trading activity. Also, ask if the service is free of charge or fee based. While there can be more to look for, if you follow the above rules, chances are you will end up with a better, more reliable and finally highly competitive real-time FOREX data provider. Bogdan Vasile Further FOREX education available at www.forex-arena.com Mr. VASILE is the founder and President of VORTEX Capital Management, a seasoned FOREX trader, member of the Securities & Investment Institute in London and author of the revolutionary SyncronDec™ training program used in his professional FOREX course. He is also the owner of www.forex-arena.com, a professional website, dedicated to FOREX analysis and education. |
Other Forex Trading Articles
Forex Brokers & Online Trading There is one important thing you will need to do before you start your Forex trading career. This is, you will need to set up an account with what is known in the trading world as a Forex Broker. Once you start your search for the perfect broker, you may feel there are too many of them who offer their services online. Deciding on a broker requ ...Online Bond Trading Online bond trading is a far less risky venture than online stock trading. It is because bonds are usually long-term investments and have maturity date. If you invest in bonds, you get a steady stream of interest because unlike other assets, bonds are not subject to shifts in interest rates.In the past, online bond trading is lagging behi ...Managing Bank Liquidity in Real Time Just a decade ago the concept of bank liquidity was for all intents and purposes only one for the Bank Regulator to really concern himself with. A bank had to remain liquid –critical if it were to enjoy the confidence of its depositors – but this criticality was an “after the event” issue.Then banks enjoyed a high degree of anonymity and ...Trading Day Software Trading by computer using specific software is common and easy on the pocket as well. Computers are the best medium for all kinds of trading, but particularly for day trading. The systems works with two monitors connected to the same machine, and day traders can expand their trading screen across both the monitors. Thus, the graphs and the marke ...The Benefits of Day Trading Day trading is often debated by stock investors and brokers. Many people think it is a problem while others believe it is the best way to trade stocks. Day trading is seen by some as a great skill that is the only way to play the stock game. Day trading does offer many benefits and perhaps it is the benefits that draw so many to the idea of d ...FOREX 101: Make Money with Currency Trading For those unfamiliar with the term, FOREX (FOReign EXchange market), refers to an international exchange market where currencies are bought and sold. The Foreign Exchange Market that we see today began in the 1970's, when free exchange rates and floating currencies were introduced. In such an environment only participants in the market determi ...Forex Trading: How to Setup a Solid Workstation? IntroductionAt first glance, it may not appear that important, but you will come to appreciate the wisdom of ensuring you have all of the tools necessary to make your currency trading experience a positive one.Work Station LocationChoosing the right place for trading is your first step. Be s ...The Secret Hidden Market Most people believe that the majority of money exchanged daily by the banks, insurance and brokerage houses happens on the well known Dow and S&P. The truth is, by far the most money that exchanges hands occurs in the currency markets, and dwarfs the amount exchanged on the Dow and S&P. Most people have heard of the Forex market, but have no kno ...How To Avoid Gum Disease, Pain And Financial Discomfort Gum disease believe it or not, can be avoided or at worst managed at a level where it doesn't affect your quality of life. Take it from someone who has experienced gum disease at it's worst, brush and floss your teeth at least twice a day; it will be worth it in the long run!What Is Gum Disease?Gum or periodontal disease is describ ...What are Your Options Regarding Forex Options Brokers? Forex option brokers can generally be divided into two separate categories: forex brokers who offer online forex option trading platforms and forex brokers who only broker forex option trading via telephone trades placed through a dealing/brokerage desk. A few forex option brokers offer both online forex option trading as well a dealing/brokera ...How to Trade Currency We all know when you go on a trip to another country; you need to take some travelers checks and some cash in the currency of that country. This can be advantageous because one country’s currency is usually worth more or less than the other. So your 100 USD could be worth 130 Canadian dollars, giving you more purchase power.Currencies o ...A Guide to Discount Brokers Discount brokers are individuals or companies that carry out trade executions for a variety of trades. In other words, they execute buy and sell orders at a lower commission rate.Discount brokers can be categorized as discount stock brokers, discount commodity brokers, and discount real estate brokers. Discount stock brokers open endless ...Teeth Whitening: Are You an Ideal Candidate? Most people today place high importance on appearance. For many, having a set of good, white teeth is vital for looking good in public. Just look at how many teeth whitening products are currently available on the market.Teeth whitening is a great way to improve one’s appearance and smile. However, there are two questions that concern thi ...Tooth Whitening for That Brighter, Whiter Smile If you are looking for that brighter, whiter smile then tooth whitening can be a very effective way of lightening the color of your teeth. Tooth whitening is a highly effective way of combating stains created from smoking, eating and certain drinks such as coffee, tea and red juice.Some people naturally have whiter teeth than others but a ...The Right Mindset Adopt It and Make Huge Profits Now! One trader who had the right mindset was W D Gann and he built a $50 million dollar fortune.What actually do we mean by the right mindset? Well let’s consider a startling fact first:Fact: 90% of traders lose because they cannot control their emotions. Getting the right mindset is essential and will help you make big profits ...Forex Mini Account - Am I Eligible? If you were just learning about Forex Markets a good idea for you would be what is called the Forex mini account. The mini account is also great for those who want to start off with a fairly low investment. A mini account can be opened with only $250 while a regular one has to involve a minimum of $2,500. The option of the Forex mini account is ...Forex Trading Education - What's the ROI? The traders that tend to do better in the Forex market are those who have undertaken some kind of Forex trading education. Jumping in blindly can be a big mistake in the high-risk world of the Forex market. This is because of decisions in the Forex market is made in real time and is usually made in seconds and Forex education can benefit the beg ...FOREX Online System Trading- For Bigger Profits The rise of the Internet and cheap powerful computers has made FOREX online system trading a reality for any trader, novice or pro.Now its possible for individual traders to manage their funds and target 30 – 50% annual compound growth.The advantages of FOREX online system and how to choose a good one are outlined in this article. ...Ten Tips for Cross Cultural Communication Here are some simple tips to help you improve your cross cultural communication skills:Slow DownEven when English is the common language in a cross cultural situation, this does not mean you should speak at normal speed. Slow down, speak clearly and ensure your pronunciation is intelligible. Separate ...Why Choose Forex Trading Over Stocks Trading Forex trading holds significant differences to stocks trading. Understanding these differences will aid a trader in deciding the right market to enter. Forex trading itself has several advantages over stocks trading and is ideal for the beginner and individual small investors.1. Low Transaction Costs for Forex Trading. There are no h ...Online Futures Trading Brokers The World Wide Web is filled with hundreds of online futures trading brokers who offer services to hedgers and speculators wishing to play the futures markets. To access these brokerages and have round-the-clock information at your fingertips, it is necessary to make sure that your computer has the right configuration in order to run the trading ...Just What is Currency Option Trading Some people, when they hear about the currency market, they only think about the foreign exchange market. Rarely do you hear about the other side of currency trading which is known to some people as currency options trading.Currency options trading involve selling and buying the rights to buy and sell a certain fixed amount of a currency ...What Drives Foreign Currency Movement? Economic factors are the main stimulus behind currency movements. These factors can take many different forms, and often speculation surrounding a particular event can move currency rates as much as if the event actually happens.Often we hear of figures being released regarding sales, housing, employment or industry, but what do they actu ...Trading Software Trading is a risky business, but if carried out with care it can result in huge profits. It involves getting a firm hold in the market, either short or long term. Realizing the importance of trading, trading software programs have been introduced to the public to offer a variety of trading tools to help make proper buying or selling decisions. ...Candlestick Charting – Adding a Visual Dimension To Your Trading Candlestick charting is great for traders wanting an extra edge in their quest for profits - this is due to the way the candle bodies are drawn, that gives a better insight that is visual, and shows trader psychology.More traders than ever are using candlestick charts due to the extra trading edge they can get with this form of charting - ...FOREX or Futures - Where to Trade Our modern futures market originated in the 19th century when farmers began selling contracts to deliver agricultural products at a later time. They did this to attempt to anticipate market needs and to smooth the supply and demand during the off-season.The futures market has changed dramatically since then, in current times the futures m ...Understanding Currency Trading Dynamics Most books and courses on the subject of currency trading say that it is normal for beginners to lose money at first. Some even go as far as to say that it is normal to have a losing streak that lasts several months! This philosophy stems from the rationale that after losing significant amount of money, you will have more experience and knowled ...Finding the Best Broker for Forex Trading When we talk of any money transactions like those pertaining to the stock exchange, one hears a lot about brokers. FOREX traders are known to use brokers to carry out their transactions for them. So how would one define a broker? In the true sense of the word, a broker is a person or a company that a prospective investor trusts to buy and sell ...Currency Update – 5 Trades Correct Last Week, What Does This Week Hold With our currency update last week we had some great trades and while we were right, we also know that if we were wrong, our risk was small for all trades entered.We have had some fantastic profits last week but that’s the past, let’s look at the currencies this week and what we think will happen.Our view last week was the longer t ...Seven Reasons Organizational Culture Matters We spend 40 . . . or 45 . . . or 50 . . . or more hours at work each week. Many of us spend more time with those we work with than we do our families. For us to be content and fulfilled people, that time must be valuable for more than a dollar. . .We want to be engaged in our work. We yearn for work that is enjoyable, meaningful and en ...A Child's First Trip to the Dentist As parents, it is important to inculcate in your child's consciousness the importance of good oral health. Starting early is crucial. Your child's first trip to the dentist should take place no later than his 2nd birthday. It is recommended by the American Dental Association that a child should visit a dentist as early as 6 to 12 months of ag ...
|
