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MT4 feed and Oanda... which server?

  • Post #1
  • Quote
  • First Post: Mar 6, 2007 4:36pm Mar 6, 2007 4:36pm
Hello everyone,

I was just wondering which server is best for price action. The reason I ask is because the data feeds seem to be different for each broker.
For example, on an Orion demo server, there may be a triplebar low. But on the InterbankFX feed, there is no triple bar. So, which do I use? Which is more reliable?
(I like Gimex because it has so many pairs, as well as oil, gold and silver. IBFX only has forex... but if their feed is more accurate, then I'll use it.)

Also, which server is closest to the Oanda feed (if there is one)?

Thanks for your help!

-Paul
I,

to be frank, not all feeds are created equal. Because of the difference in spreads, and to some degree the variance of spread, not all feeds will reflect the same prices.

As far as reliability of a feed, the short answer is that each broker's feed is always correct (with probably a few minor blips every once in a while). As the currency market is not centralized, each broker has the independence to price as they see fit. This means that brokers can move prices within their own feeds as needed. With that said, it isn't a good idea for brokers to vary outside the general market agreement because of arbitrage.

Quoting isitrue
Hello everyone,

I was just wondering which server is best for price action. The reason I ask is because the data feeds seem to be different for each broker.
For example, on an Orion demo server, there may be a triplebar low. But on the InterbankFX feed, there is no triple bar. So, which do I use? Which is more reliable?
(I like Gimex because it has so many pairs, as well as oil, gold and silver. IBFX only has forex... but if their feed is more accurate, then I'll use it.)

Also, which server is closest to the Oanda feed (if there is one)?

Thanks for your help!

-Paul
Oanda doesn't have a (free) automated trading system, they offer an API but you have to pay $600/mo for it (or offset it with a lot of volume trades). It would be cool to build a custom automated platform from this API and offer it to other traders, but thats probably against their terms of use.
Pippin' ain't easy.
Thanks for the replies. That's just what I needed to know!

-Paul
price action is a way to gauge market sentiment in the short term. to do this, you should look for the largest volume broker.

the problem with oanda, and mt4 charts (as well as all other forex charts) is that they dont show actual sales. mt4 shoes the bid price, and oanda shows a midpoint between the bid and ask or just the bid or just the ask or both.

in any case, none of htem show actual sales!!!

if you want to have the best price action analysis and you can afford it, trade forex futures on CME. they have actual sales.
Time and sales records are somewhat pointless because the market is decentralized. There is no obligation to share TS records between brokerages.

With that said, some ECNs (I know MBTrading / EFX) will show you TS records...but they are from within their own liquidity...so again, not sure how helpful that would be if you're trying to guage the entire market.

Quoting clam61
price action is a way to gauge market sentiment in the short term. to do this, you should look for the largest volume broker.

the problem with oanda, and mt4 charts (as well as all other forex charts) is that they dont show actual sales. mt4 shoes the bid price, and oanda shows a midpoint between the bid and ask or just the bid or just the ask or both.

in any case, none of htem show actual sales!!!

if you want to have the best price action analysis and you can afford it, trade forex futures on CME. they have actual sales.
  • Post #7
  • Quote
  • Last Post: Mar 6, 2007 5:33pm Mar 6, 2007 5:33pm
yeah exactly, which is why a better way to trade forex is to trade futures, which is a centralized market.

when most everyone puts some type of stop, whether to get in our out of a market, at a high or a low, it makes sense to use actual highs and lows of actual sales and not pretend sales

Quoting mrmikal
Time and sales records are somewhat pointless because the market is decentralized. There is no obligation to share TS records between brokerages.

With that said, some ECNs (I know MBTrading / EFX) will show you TS records...but they are from within their own liquidity...so again, not sure how helpful that would be if you're trying to guage the entire market.
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