Latest update August 5th, 2020 9:38 AM
What Are Real Time Forex Quotes?
First, get familiar with the trading quotes. The trading quote represents two currency three-letter symbols. It is separated with a slash. The former two letters define the country name, while the last letter states the currency. E.g. USD means United States Dollar, while GBP symbolizes the Great British Pound. There are certain exceptions [exotic currencies] like ARS resemble Argentine Peso.
Forex traders heavily depend on real-time trading quotes. Many Forex traders are scalpers while a majority, participate in intraday trading. Just imagine the havoc, which could cause if there was a little delay in receiving up to seconds information.
Live Forex software allows traders to receive real-time quotes, which makes a difference in your amount of loss or profit, especially for scalpers. A couple of pips can multiply quickly. Your total Forex strategy depends on information accuracy and timeliness. Forex market is extremely dynamic and depends on technology, so a trader needs to ensure that opportunities don’t get missed.
One quote is valid for only a brief second. During the turmoil, the market is volatile than real-time Forex quotes. Therefore for better understanding price quotes are displayed in the form of a chart. The chart offers a quick glimpse of price quote history within a specific time interval.
Traders need to connect their Algo-trading strategies with a Python Forex API. You can access real-time Forex quotes with specific currency pairs. When a buy order or sell order or stop-loss order is put in, the trader needs to be confident that his decision is based on real-time statistics.
Traders can trade both Forex and crypto markets on a single trading platform. Live crypto streaming of the crypto market is beneficial because orders can be implemented at favorable prices rapidly. Thus the sway of crypto market fluctuations on execution price, spreads, and trading fees reduce.
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