I asked this question before, but no one bothered to answer. Can anyone tell me why there are so many spikes in the chart? In the chart, one spike hit 1.6200 but I find that there is not recond of such trading at this price. This is the chart of GBP/USD.
This happens a lot on FX charts because so many banks and institutions contribute to most feeds you have these outlier (errors) quotes. Below is the banks and institutions eSignal gets from their provider GTIS. Sorry it takes up so much room. _________________________________________ ABAA ABN Amro, Amsterdam GE ADP/GTIS, London GT ADP/GTIS, New York GART ADP/GTIS, Tokyo AD Allied Irish Bank, Dublin AM Akmos Trade, Moscow AN American International Group, New York ASAT Asahi Bank, Tokyo AB Australia New Zealand Banking Group, Sydney AXIP AXIME-Scope Software Provider BI Banco Commerciale Italiana, London BESP Banque Escompte BE Banco Espirito Santo e Comercial de Lisboa, London BK Bangkok Bank AS Bank of America, Singapore AT Bank of America, Tokyo BKCH Bank of China, Hong Kong BW Bank of New Zealand, Wellington BAIP Banque Indosuez, Paris BAIS Banque Indosuez, Stockholm BX Banque Nationale de Paris, Hong Kong BP Banque Nationale de Paris, New York BS Banque Nationale de Paris, Singapore NP Banque Nationale de Paris, Sydney BPAP Banque Paribas BN Banque Worms, Hong Kong BL Barclays Bank, London BART Barclays Bank, Tokyo BC Barclays Bank, New York BDBP BIP-Dresdner Bank BNPP BNP Finance BBAA British Bankers Association BTMT BTM Bank, Tokyo CDDP Caisse des Depots, Paris IT Canadian Imperial Bank of Commerce, Toronto CMSN Capital Market Services, New York CJ Cariplo Bank, NYC CI CCM International, New York HT Chase Manhattan Bank, Tokyo KL Chemical Bank, London KN Chemical Bank, New York CMBT Chuo Mitsui Bank, Tokyo CD Citibank, Dublin CF Citibank, Frankfurt CK Citibank, Hong Kong CL Citibank, London CN Citibank, New York CG Citibank, Singapore CS Citibank, Sydney CT Citibank, Tokyo CO Citibank, Toronto CBAL Commonwealth Bank of Australia, LDN CB Commonwealth Bank of Australia, Melbourne MT Commonwealth Bank of Australia, Sydney CFKS Consensus FK, Stockholm CPRP CPR Intermediation CAGP Credit Agricole, Paris CCOP Credit Commercial CC Credit Commercial de France, Hong Kong CICP Credit Industrial et Commercial CRLP Credit Lyonaiss, Paris CZ Credit Suisse, Zurich CH Currency Management Corp. CM Currency Management Corp, London GF DG Bank, Frankfurt DS Dah Sing Bank, Hong Kong DAEL Daiwa Europe, London DH Dao Heng, Hong Kong DEBP Den Danske Bank, Copenhagen DO Den Norske Bank, Oslo DEUT Deutsche Bank, Tokyo DKBT DKB Bank, Tokyo AF Dresdner Bank AG, Frankfurt EPFS Erik Penser FK, Stockholm FOBS Foreningsbanken, Stockholm FJIT Fuji Bank, Tokyo GGBN Garbin GuyButler/Garban GARN Garvin BENCHMARK COMPOSITE, New York GEBB General Bank, Brussels GH Generale Bank, Hong Kong GFT Global forex Trading, Michigan GOSP Goldman Sachs, Paris GPXN GOVPX Full Service, New York GPIN GOVPX Indicative Service, New York HABL Hambros Bank, London HN Hantec International Limited BH Harlow Butler London HM Harlow Meyer Savage, New York HA Harris Trust, Chicago HH Hong Kong and Shanghai, Hong Kong HS Hong Kong and Shanghai, Sydney IBJT IBJ Bank, Tokyo ID Indover Asia Limited, Hong Kong IN Intercap Investments, New York IS Indosuez Australia Limited, Sydney ISML ISMA, London II Italian International Bank, London JPBS JP Bank, Stockholm JPML JP Morgan, London JPMP JP Morgan et Cie JBAA Japan Bankers Association JBBT Japan, Bond Brokers, LTD. KA Kaes USA Inc., Miami KZ Katonalbank, Zurich KH Kwangtung Provincial Bank, Hong Kong LB La Bouchere Amsterdam LH Lee Fung Hong, Hong Kong LEBL Lehman Brothers, London LY Lloyds Bank NZA Limited, Sydney LDFP Louis-Dryfus fin. MQ Macquarie Bank Limited, Sydney MP Mees Pierson, Amsterdam LP Mellon Bank, Pittsburg MR Merita Bank, Helsinki MIDS Midlandbank, Stockholm MIML Midland Montagu, London MTBT Mitsubishi Trust Bank, Tokyo ST Mitsui Sumitomo, Tokyo MO Mocatta Metals, London JMGF Morgan Guaranty, Frankfurt MG Morgan Guaranty, New York MOSP Morgan Stanley RL NM Rothschilds, London NA National Australia Bank, Melbourne NK NatWest Markets Australia LTD. Sydney NL National Westminster Bank, London NW National Bank of New Zealand, Wellington CF Nomura Bank, AMS NORS Nordbanken, Stockholm NRIT Norin Bank, Tokyo OJFS Ohman Jr FK , Stockholm HC OHV, Amsterdam OH OKO Bank, Helsinki PH Po Sang Bank Ltd., Hong Kong PK Postipankki, Helsinki RA Rabobank, Amsterdam RU Rabobank, Ultrecht RF Rada Forex, New York RC Royal Bank of Canada, London RT Royal Bank of Canada, Toronto RS Republic Mase Westpac, Sydney RH Republic National Bank, Hong Kong RN Republic National Bank, New York SWAT Sanwa Bank, Tokyo SCSP Scope Simulation Provider SEBS SE Banken, Stockholm SEBL SE Bank, London, England SCBT Shinkin Central Bank, Tokyo SSIT Shinsei Bank, Tokyo SHOT Shochu Bank, Tokyo VN Skandinaviska, New York VG Skandinaviska, Singapore SE Societe Generale Austrialia Ltd Sydney SG Societe Generale, New York SH Standard Chartered Bank, Hong Kong SW State Bank of New South Wales, Sydney STBT Sumitomo Trust Bank, Tokyo SF Sun Hunk Kai Limited, Hong Kong SVES Svenska, Stockholm SB Svenska Hanelsbanken, New York SVRS Sveriges Riksbank, Stockholm SWES SwedBank, Stockholm SN Swiss Bank, New York TF Taipei Forex, Taipei TKAT Tokai Bank, Tokyo TBBL Tradition Bond Brokers, Ldn TRNS Transferator, Stockholm TT Trasy Gold Limited TU Trinkhaus, Dusseldorf TG Tullete & Tokyo, Singapore TL Tullete & Tokyo, London TN Tullete & Tokyo, New York TM Tullete & Tokyo, Manama TS Tullete & Tokyo, Sydney UBST UBS Bank, Tokyo AY Ulster Bank UNIC Unibors, Copenhagen UH Union Bank of Finland, Helsinki UBSS Union Bank of Switzerland UG Union Bank of Switzerland, Geneva UC Union Bank of Switzerland, New York UW Union Bank of Switzerland, Sydney UZ Union Bank of Switzerland, Zurich SC Warburg DR, Hong Kong WZ Warburg DR, Zurich WP Westpac Banking Corp, London WY Westpac Banking Corp, Sydney WOGT Wood Gundy, Canada YKOT Yokohama Bank, Tokyo YTBT Yasuda Trust Bank, Tokyo
JayS Thanks!. Does it mean FX trading is much error prone? I am still learning it but it seems to be a very lousy market.
I think its because the trading is so fragmented (not a central location) that good clean data is hard to get. I don't think FX trading itself is error prone. The EUR and JPY are great to trade (along with the EUR/JPY), atleast for me.