HOME FORUMS BROKERS SOFTWARE BOOKS CONTACT US
Elite Trader Your Account  •  Become a Member  •  Help  •  Search    
    Forums ›› Technically Speaking ›› Strategy (System) Design ›› Do you use bid/ask or last traded price?  


Post A Reply
    
vincegata
 

Registered: Jan 2011
Posts: 94

 

09-04-12 06:28 PM

Hello,

Do you use bid/ask or last traded price? What about specifically in FOREX?

Are there pro and cons of using one or another?

TIA

    Edit/Delete Quote Complain
dom993
 

Registered: Jul 2008
Posts: 583

 

09-05-12 04:10 AM

For (cash) forex there is no transaction history (some brokers give you a "last" traded price, but this is never representative of the entire market, since most of it is traded directly bank to bank) ... so the best proxy for where the market is trading at is the bid/ask.

To get transaction price & volume history chart the forex futures (6E, etc). Prices are different from the cash market, and of course volume is for the futures & has nothing to do with the cash market, but that's not a big issue if you are only trading those futures.

    Edit/Delete Quote Complain
vincegata
 

Registered: Jan 2011
Posts: 94

 

09-06-12 01:36 AM

I see, thanks for the post.

    Edit/Delete Quote Complain
    
Post A Reply


Receive an email whenever a new post is added to this thread by subscribing to it.
 
Rate This Thread:

Forum Jump:
 

 

   Conduct Rules  -  Privacy Policy  -  Day Trader -  Day Trader Forum -  Best Trading Software -  Sitemap Copyright © 2013, Elite Trader. All rights reserved.    
 
WHILE YOU'RE HERE, TAKE A MINUTE TO VISIT SOME OF OUR SPONSORS:
Advantage Futures
Futures Brokerage & Clearing
AMP Global Clearing
Futures and FX Trading
Bright Trading
Professional Equities Trading
CTS
Futures Trading Software
DaytradingBias.com
Professional Trading Analytics
ECHOtrade
Professional Trading Firm
eSignal
Trading Software Provider
FXCM
Forex Trading Services
Global Futures
Futures, Options & FX Trading
Interactive Brokers
Pro Gateway to World Markets
JC Trading Group
Direct Access Trading
MB Trading
Direct Access Trading
MultiCharts
Trading Software Provider
NinjaTrader
Trading Software Provider
OANDA
Currency Trading
optionshouse
Option Trading & Education
Questrade
Canada's #1 Online Broker
Rithmic
Futures Trade Execution Platform
SpeedTrader
Direct Access Trading
SpreadProfessor
Spread Trading Instruction
thinkorswim by TD Ameritrade
Direct Access TradingAdvertisement
TradersStudio
System Building & Backtesting
Trading Technologies
Trading Software Provider
Trend Following
Trading Systems Provider