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TNAGLE wrote:
> realtraders@xxxxxxxxxxxxxx
> ****************************************************************************
> *********
> A O'Gorman said "Most testing we do is on equities and futures contracts
> that are exchange
> traded and as such have universally accepted open, high, low, close
> numbers. Backtesting Forex markets is much more difficult for two
> reasons a. conventions as to when exactly a currency cross opens and b.
> available sources of forex data.
>
> Does anyone have any opinions on the either of these points or perhaps
> could anyone point me in the direction of sources of historical forex
> data?"
>
> ****************************************************************************
> **********
>
> I've been following the FX cash markets for a number of years and I've found
> Tradestation with Telerate data to be up to the mark. This data is provided
> on a contribution basis mostly by banks around the world so therefore it's
> purely indicative. For dealt rates you can get hold of the real dealt FX
> prices from Reuters (dealt prices sourced from the 2000/1 system) or
> similarly from EBS you should be able to get hold of their dealt prices.
> As to the question of where exactly a currency cross opens well as these
> markets are running right through 24 hours there is no such thing as an open
> or close so it's up to the user if he/she wishes to use data relevant to a
> particular trading zone. For instance, even though the market in London is
> always well under way by 08:00 London time, I have always used that time to
> begin my European point & figure update because by that time the market is
> always liquid but really it's completely up to the user to format his/her
> data to suit their timeframe so that it can be useful for their trading .
>
> Hope this helps,
>
> Regards,
> Tom Nagle
> Tom Nagle
> Tullett & Tokyo Forex International,
> Cable House,
> 54-62 New Broad Street,
> London EC2M 1JJ.
> Tel: +44 171 827 3409
>
> www.tullett.com
For purposes of creating daily charts, one should treat the New Zealand market
as the opening for the day and New York's closing as the day's closing. New
York's closings are the most significant and indicative when it comes to
analyzing the markets. Asian sessions these days are just too lame to get any
indications at all, (the dealers are either useless or sleeps through it and
start waking up when London comes in). London and, especially, New York are the
true contributors to the Forex markets. Regards.
Have a good one
Jeff Harteam
Hong Kong
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