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At 03:17 PM 9/24/2004, you wrote:
>The eSignal Forex feed has its problems... Only three days ago we had
>the Fed meeting which ended at 2:15pm ET. You might be interested to
>know what happened to that feed at this most crucial point in time:
>punctually at 2:00pm the eSignal forex stopped working, leaving me
>completely clueless about my positions (except for my broker's feed
>which continued to display quotes). Then at about 2:30 when most of the
>action was over, the eSignal forex feed came back on, not without
>leaving a large hole in the chart.
>Also be aware that some (most, actually) forex brokers have a "request
>for quote" mechanism by which they control, at the moment you place the
>order, what quotes are being shown to you as current. Easy to slip in a
>pip or two... If you go for retail forex, look for a broker that offers
>"straight through processing".
>Hope this helps.
>Michael Suesserott
michael
the forex feed break on fed day was the first one i have seen.
but i think i have seen another since then as well.
so, that may be a bad sign for sure.
have you found another alternative?
is there another high dealer count feed worth checking?
seems like single dealer pricing could be a very bad case of flying blind.
after all it's the dealer that's on the other side of every forex trade.
that's no better than trading blind with a single nasdaq market maker.
he's more like to hand you your head than a good (for you) price.
also worth noting is the nature of the future/forex spread.
i feel good being able to see the forex market's moves.
however, futures seem to trade with nearly a "locked" spread against forex.
except immediately on economic releases.
spread seems to have very little elasticity.
unlike equity index futures which trade around the index with a much more
variable spread.
which i suppose can be a good tell on anticipated moves.
guess the futures/forex arb is too easy to do as compaired to equity index
arbing.
in fact i have recently wondered if the forex feed is necessary.
in any event, my point is this.
i would not hesitate a second to trade strictly off the futures in the
event of a forex feed outage.
red beans
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