eSignal Experiment

Using eSignal. I have put on my screen the following JPY real-time quotes. What I wanted to see if knowing the various prices on the market, can you predict the future price move at my broker?

About the picture: the upper-left corner is two of my favorite dealers/brokers. Under those the eSignal quotes and a composite pip-level chart on the right. One positive outcome of the experiment that I fall in love with the news ticker (shown on the bottom). It is pretty cool to read about news so much before the newspapers arrive. Also I kind of hate when newspapers don't publish their sources. Here you can even see the e-mail or phone number of the article writers.

How to read the symbol: JPY is JPY/USD. @XXXX means the dealer code giving the price quite. A0 means spot market, and FX means Forex.

JPY@ABAA A0-FX
JPY@AD A0-FX
JPY@ALIB A0-FX
JPY@AM A0-FX
JPY@BKCH A0-FX
JPY@CC A0-FX
JPY@CCMI A0-FX
JPY@CM A0-FX
JPY@COES A0-FX
JPY@DO A0-FX
JPY@DS A0-FX
JPY@FXCM A0-FX
JPY@FXDD A0-FX
JPY@GAIN A0-FX
JPY@GFT A0-FX
JPY@HASE A0-FX
JPY@HOTS A0-FX
JPY@HSFX A0-FX
JPY@ID A0-FX
JPY@KZ A0-FX
JPY@LH A0-FX
JPY@NEDS A0-FX
JPY@NICP A0-FX
JPY@ODSE A0-FX
JPY@OH A0-FX
JPY@RF A0-FX
JPY@RTG A0-FX
JPY@SBD A0-FX
JPY@SBZA A0-FX
JPY@SEBS A0-FX
JPY@SF A0-FX
JPY@TDFX A0-FX
JPY@TL A0-FX
JPY A0-FX

One observation: COES, TDFX, AD traded on 1 pip, and ID on 2 pip. Maybe, good to remember these names. However, AD and ID were not trading at the time of the experiment. Another interesting one was OH, it was trading with around 0 pip at times.

Second observation: FXCM listed prices with 4 pip when they actually provide 3 pip service on their website. Interesting. What does this deviation mean? Are they quoting different prices to different customers? Easily possible. It is a bit troubling from a market leader in Forex.

Only 19 of the 34 listed were trading actively. So I had deleted the rest.

Unfortunately, the experiment is negative. Looking at the market is not enough help to figure out future price moves of the individual dealers.

It is possible that the composite index could be used as a kind of "poor man" volume data. It contains more information than just watching the amount of pips from my broker. In Forex, we call the number of pips during a period a volume data since there is no real volume information available for usual retail users. The composite contains the pip moves from 19 brokers giving a better Forex volume indicator.