DB9,
The differences between dealer's graphs is actually two-fold. One is the time differences on the servers plus the times that the dealer closes business for the day. Normally in the USA the close of business is 4:00 pm EST. This would possibly account for the time differences you see on the charts.
As for the differences in the prices you see on the charts, forex is different than equities in that there is no ECN like NASDAQ from which everyone gets prices. Depending on where the dealer gets their data feed will partially account for the discrepencies you see in prices. I use Tradestation, IBFX, and Ikon Global and all three have different price feeds so I see discrepencies. However, with that said, the data should not be considerably off.
I have noticed certain dealers at the end of the day in particular, will regularly do
stop hunting in which they will run the price up or down to take out
stops to net a little extra income for themselves. Their price feeds to you will also reflect their own "internal manipulation" of the market. Remember, most if not all dealing desk dealers have to take positions opposite you (meaning they trade against you) as well as absorb your trades without necessarily passing them on to the market at the time you make them. They are in business to make money from you and the spread is just not enough for them to stay in business. This will account for the price discrepencies you may see in a particular time or price
candles.
Again, I recommend Augustin Silvani's book "Beat the Forex Dealer" for a look into the world of the dealers and how they make money.
Good luck trading.
06-27-2009, 02:41 PM
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