Are the numbers on Myfxbook real? Are they capturing all the volume traded by one broker? I was looking at IronFX, and if the numbers are real. IronFX is by no means a small broker, am I wrong about this?
The numbers are real [I][B]tick volume,[/B][/I] measured in 1-minute time frames.
From the time that a 1-minute candle closes on your broker’s chart, there is about a 5-second delay until the tick volume from that 1-minute period appears in the MyFxBook table.
If I get a chance, I will post side-by-side images of a chart with tick volume, and the MyFxBook table, to illustrate the above.
There will always be debate about whether tick volume (which counts the number of price changes in a given time period) is a reliable proxy for true volume (in lots, or dollars, or euro, or whatever). Many traders, myself included, believe that it is a reliable proxy.
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Here is a screen-shot of a portion of the MyFxBook volume table, with a EUR/USD 1-minute chart from FXCM overlaid on it. The green arrow points to the candle which [B]opened[/B] at 1:47am EDT (0547 GMT) Monday 8/24, and closed at 1:48am. The screen-shot was taken just after 1:48am.
Notice the slight discrepancy between the tick volume reported by FXCM (472) and the tick volume posted in MyFxBook (479). Such discrepancies seem to pop up about 25% of the time, and they are typically tiny.
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Really nice question sir…
I think that myfxbook is really really real and would not be manipulated. But you must know that opening account in myfxbook, we can use demo account of broker.
So, their trading strategy is real.