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Getting a feel for the financial markets, especially Forex, can be challenging at the best of times. So to know what to do and to get the most up to date information about the markets, you need to ensure that your forex historical data is up to date and as informative as possible.

We aim to to show you all the different nuances and tricks to handling financial information and being able to then turn it into statistical keys that you can then actually use in your trading to profit from.

To get cracking on making a profit in the markets check out this informative article about historical forex data which reveals exactly how you should get started.

If you are looking to trade forex then it can be a good idea to check your trading strategy against forex historical data records. So that in that way you can judge if your trading could have been profitable in times past. There are dangers to this however, in that many times people try to retrofit a trading approach too closely to the tick data, and so it almost becomes farcical as they pour over intraday historical records seeing where they can tweak their approach and make extra money.  All well and good, except for the fact, that most of the time these trading gains are mythical when applied to the actual forex markets, and don’t actually make money when traded for real. (Little aside… If you want a forex system that consistently makes money then this works great.)

So in some senses forex historical data is a bit of a doubled edge sword. It can cut through and show you trading strategies that don’t work, but equally well it can lead you to falsely assume either that an approach won’t work in the future “Because it hasn’t in the past…” or else conclude that you have a “Surefire winner on my hands!” Either of which approaches is incredibly dangerous when it comes to using your real money to trade.

Here is the forex system I personally use >>

Applying The Pareto Principle to Forex Historical Data…

Many times you would be better off applying the Pareto Principle (the 80-20 rule) to your forex trading; rather then interminably pouring over forex charts, futures charts, commodity charts, historical stock prices, livecharts and any other manner of data that it is now possible to get almost instantly, and seemingly in unlimited quantities.  Number crunching forex historical data is all well and good, but ultimately rather then trying to build up increasing amounts of information, your forex trading profitability may actually be better served by stepping back from the parapet of having enough data that you could metaphorically drown in. And instead take your data in more bite size chunks, and focus on the small number of indices and small number of trading factors that actually lead you to make money.

If you aren’t currently making money with Forex, but are instead looking to branch out into it, and are looking to secure some forex historical data so that you can endlessly dig around and backtrade. You may actually be better to ditch that plan entirely and seek out a proven forex system that consistently brings in profits. Whilst you may find it difficult to believe that people would sell such systems, the truth is that many of the most successful systems have almost no threshold on the amount of money that they can produce, so there is no problem with sharing it because its just extra money in the bank for the system developer.

So it actually makes more sense to sell the system to other people (especially as more people using a system can actually have the effect of leading forex indicators rather than following) as there are a lot of people for whom a consistent profit is more important, and who would be willing to invest in a proven system.

One system that I like is this one (Sssshhh… Keep it to yourself )

Forex Historical Data… Final Thoughts

So, by all means back trade with forex historical data, but be open to simply trying out a number of the more successful systems that are already available. Sometimes it is simply not necessary to reinvent the wheel.

Here is the forex system I use >>

Forex Trading can be incredibly lucrative, but it is always worth checking forex historical data against your trading strategies to ensure that recent profitability isn’t just an historical glitch. The good news is that the forex market is a global concern with an enormous volume of trades done every single day. In fact there is more than 3 Trillion Dollars of turnover every day.  So the range of forex historical data that you can choose from is equally as large, but it does mean that you may need to be selective about the data that you use, or there is a risk of getting bogged down with too much information.

And it is also important to use a forex system that actually works (like this one) if the data is going to be of much use to you.

In addition you need to be aware that without a historical context the raw forex data on its own can be quite deceptive. So you need to color any judgements you make based on it with a good degree of common sense. For example, if a hurricane hits the orange crop in Florida badly, then there may not be anything fundamentally wrong with the state of the US Dollar, but it may still fall because market sentiment is clouded with a down-beat feeling. Remember that ultimately trading is a human business, and that whilst it obviously makes sense to tap into a source of forex historical data, that you shouldn’t get carried away into believing that it is a panacea for all your market intelligence. Instead you should use it as a guide, but be sure to add in other determining factors into the mix before you place real money on the line. And, as with all trading systems, ultimately money management and how you control your own trading temperament will play just as big a part in deciding on your financial success.

Here is the forex system I use >>

Backtest With Forex Historical Data

With all that said, a source of historical data can be great to backtest a theory, and to reform certain hypotheses about future forex trading trends. So, before you wade into hundreds of hours of historical forex data mining, it is important to understand some of the figures that will ultimately underlie the data. As otherwise having dozens of columns and millions of rows of data in a spreadsheet to consider, could simply end up giving you a headache and not really aid your trading much; if you don’t approach it correctly.

Here are Three Important Index Factors that you would do well to consider when looking at any Forex Historical Data.

1/ The Consumer Price Index – This figure demonstrates consumer confidence in terms of spending and saving, and is based on data collected from a sample of five thousand US Households.  The importance of this data lies in the fact that confidence is a huge factor in deciding about whether consumers will buy more products or not. And the forex rates are intrinsically tied to how much people spend. Closely tied to this is the “Consumer Confidence Index” which also talks about consumer confidence.

2/ The Housing Start Figures – The property sector accounts for 25% of all the US Dollar investments, so is a massive sector. This index shows how many new homes are being built in any given month, so is a big indicator both of confidence and also real time of the movement of money in the United States.

3/ Retails Sales Figures – This covers all the retail sales in the United States from the retail giants right down to mom and pop stores. The reason the Forex market exists is to facilitate trade and this is a massive indicator of future forex movements.

That is only three indicators, and of course there are hundreds. But if you have made a decision to wade through all that mountain of data then you will have to become used to number crunching And you may actually be better off to use a proven forex system before you get into this level of detail.

Getting Forex Historical Data

In terms of getting the raw data itself the best first port of call will always be the exchange itself. As their historical data integrity will be second to none, and any free data source that you try to tap into online, will never be guaranteed to be 100% accurate.

In reality, you may be better off to simply tap into a proven forex system. Rather than trying to wade through millions of record of forex historical data.

You can see the proof here of the system I use here >>

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