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Common catch for rookie NeoTicker users: EURUSD vs. EUR/USD

Posted: Fri Feb 02, 2007 4:15 am
by michal.kreslik
[align=center]Common catch for rookie NeoTicker users[/align]
Hello, friends,

some of you folks out there who are starting with NeoTicker fall for a classic trap, especially those who are switching from Tradestation. Although it's trivial, I fell for the same trap when I was starting with NeoTicker, too :)

The following applies to the both of the free forex data feed providers (FXCM & EFX): the forex symbols have to be entered with a slash between the currency alphanumeric codes.

It means that instead of:
  • EURUSD (which is a common notation in Tradestation)
you enter:
  • EUR/USD
In Tradestation, it's common to use EURUSD notation for forex symbols while it's much more logical to use EUR/USD notation as the forex pair is a two-way quote. For stocks quoted in US dollars, the logically correct notation should be, for instance, MSFT/USD, although it's not common to use this notation for stocks.

Any time you are unsure about which symbols are available, just do the following:
  • either right click in the chart, select "Add Data ..." (the first item in the drop-down menu)
  • or if there's a data on the chart, double click on its label
  • then click on the ellipses button right next to the symbol (...)
  • a Select Symbol dialogue appears, where you only can select symbols that are available at the moment:



I have just posted a suggestion to the NeoTicker Suggestions forum section that NeoTicker should display a warning when the user attempts to load a non-existent symbol. The present "deathly hush" behavior is ok for advanced users, but it drives newbies nuts :)

As the kreslik.com memebrs are keen 8) , I guess you have already noticed that at the above screenshot of mine, there are actually both GBP/USD and GBPUSD symbols available (the same goes for EURUSD and EUR/USD). That is not in error, but that's me using the no-slash notation for clean tick data that I feed to NeoTicker from my SQL Tick history engine. I've got 255 mil+ ticks for 16 FX pairs (70 GBs of indexed data) in there; TheRumpledOne says I'm a mad scientist :)

Anyway, anytime I load GBPUSD instead of GBP/USD, I may rely on the data being perfectly in shape without any glitches, omissions, bad ticks etc., which certainly cannot be said about the free FXCM nor EFX tick data.

Michal

Posted: Fri Feb 02, 2007 10:28 pm
by alpha24seven
Yes that would be me. What I will say is that if not for the extra effort of Michal, I would have rethought pursuing my NT exploration.

Much appreciated indeed.

Posted: Fri Feb 02, 2007 11:40 pm
by michal.kreslik
There will be bigger challenges :) And you will overcome them. And at the end of the day, you'll be happy you made the decision.

Michal