Information – Data Vendors
Try to determine what type of information you will need and where will you obtain it. It is not necessary to spend your money on live data unless you plan to day trade or to short term trade very actively. End of day data is sufficient if you are taking a medium to long term view of the market.
Data for chart construction can be obtained from a number of sources. The Financial Press such as the Australian Financial Review and The Australian provide daily high, low, open and close prices as well as daily volume and open interest figures for most major FX markets. Data is obtained in the Tuesday, Wednesday, Thursday, Friday and weekend editions. All FX markets data can also be obtained through Newspager services as well as through the Internet.
End of Day Data
End of Day data is difficult to find on the FX markets as the markets actually never close and each data company uses a different time to determine the end of the day. The data normally includes first, high, low, last, settlement price, volume and gross open interest for the days trading.