Hi there
Last year I attended a FX seminar to learn about FX trading. Im in Australia and the guy teaching the class recommended getting esignal for the charting software… and another company (MGFTrader) as a broker. He said that with the charting software it is really important to get something with a good data feed coming from many sources and advised against free charting packages that come with many brokers as they usually have a limited data feed.
I would like some others opinions on how important this really is… I’m happy to pay for it if I really need to. However, E signal is fairly pricey and I would rather be putting my $$s into my trading account it I don’t really need it.
Also – since esignal and MGFTrader do not work together I have noticed that there is a difference in the currency prices quoted. One at least one occasion I was stopped out by my broker although I wouldn’t have been based on the esignal prices.
Any advice or thoughts would be appreciated.
Thanks a million
xxxxbabe
The more short-term you trade the more you need your data feed to be the actual prices off which you’ll trade - meaning your broker’s - because even small variations can make a difference (as you’ve found). If you’re a longer-term trader it won’t matter as much because the small price variations won’t have a meaningful impact on your analysis.