FREE Forex Tick Download Utility - SQ Tick Data Downloader V1.1

Quality Forex data is vital to all aspects of Forex Trading with regards to Strategy Testing, Expert Advisor Development/Optimization, Real Time Trading, Trade Copier Systems, Signal Services, Accurate Price Feeds, e.t.c. 

Forex Tick Data comes in various file formats, which can be converted to other file types like .csv to .hst. Here are some examples of Forex tick data file formats:

1. MetaTrader in 1 minute Bar
2. Generic ASCII in 1 minute Bar
3. Generic ASCII in Ticks
4. Meta Stock in 1 minute Bar
5. Ninja Trader in 1 second Bar (Tick Bars) with LAST quotes.
6. Ninja Trader in 1 second Bar (Tick Bars) with BID quotes.
7. Ninja Trader in 1 second Bar (Tick Bars) with ASK quotes.
8. Ninja Trader in 1 minute Bar

NB

The 1 minute, and 1 second tick data are the best when it comes to accuracy, and quality for strategy testing. It is advised to download 1 minute tick data, and convert them to other timeframes by using the period-converter scripts located in the navigator window of MetaTrader Platform.

There are lots of utilities that can be used to directly download Forex Tick Data from providers and brokers. You could either choose to use a paid service or use a free utility. Whichever choice you take ensure you're getting quality data from a reliable provider.

SQ TICK DATA DOWNLOADER 1.1

The SQ Tick Data Downloaded 1.1 is a free utility, which can be used to download over 33 Forex Currency Pairs, and 2 Forex Precious Metals. It is a standalone application, which allows downloading of Forex Currency Data ranging from Year 2007 till date.

Tick Data Downloader downloads real historical tick data from Dukascopy, and produces CSV data file for every downloaded symbol. The downloaded tick data can be used as the data source for Tick Data Suite for MetaTrader4 or StrategyQuant System Builder to perform EA testing or generation on real tick data with 99% test precision. Click here to Download: FREE

Programs That Support Tick Data Downloader

The compatibility of the utility program you use for sourcing for Forex Tick Data is very important. The downloaded or processed file format should be convertible, and compatible with other Forex Systems.

Here's a list of programs that can use real tick data for backtesting - they can use the data downloaded using Tick Data Downloader.

1. StrategyQuant System Builder - Computer Generated Trading Strategies.
   This system lets your computer generate trading strategies for you using the power of genetic programming and evolution. With ability to export the strategies to MT4 EA code.


2. Birt's Tick Data Suite: An excellent solution to test your EAs in MetaTrader4 with real tick data.
   A must have for every serious EA developer and tester.

Other Sources of Forex Currency Data Download

1. http://www.histdata.com/download-free-forex-data/

2. Forex Tick Data

Forex And Gambling

 A Forex trader once asked a question; is Forex Trading and Gambling the same? If they are not then what's the difference?

I perceive this question must have risen from the fact that both entities seem to have high level of uncertainties, and some bit of luck to make successful profits in a certain amount of runs. 

However this is not true. Forex Trading and Gambling might have similar traits, and patterns but they are entirely not the same.

Unfortunately some Forex traders trade the Forex in a gambling manner, and they always end up in losses at the long run. Some are ignorant of this, while others use certain gambling-like trading systems like Martingale. Forex is an extremely volatile and risky business, which can get your account drained in seconds if you are trading the wrong way.

What Is Gambling:

Gambling is playing a game of chance (betting) to win money. It is taking a risk with the hope of achieving a desired result greater than the amount of the risk taken.

Key Attributes of Gambling:

1. Highly addictive, nervous, and causes restlessness.
2. Does not require technical approach. Just a game of chance, and luck.
3. Does not thrive or controlled by any fundamental factor.   
4. Allows unethical practice, which greatly affects the player's behavior. 
5. Some amount of brain work is required but not necessary. 
6. Utilizes more of a random approach in playing the game.

The above attributes clearly shows that Forex Trading and Gambling are not the same. However most Forex Traders are Gamblers. If you are trading the Forex with any of the following characters below then you're gambling.

Forex Gamblers:

1. If you intend to grow a $50.00 account to $5,000.00 in few weeks or month then you'll unknowingly adopt a gambling approach.
2. If you are new to Forex, and you start with a Live Account you are gambling.
3. Trading with an uncontrolled Martingale system. Martingale systems operates by placing random orders with incremental lot sizes in opposite directions. When losses occur the lot size increases to make up the loss. It is a game of chance, and expectation of luck.
4. Trading with emotions, excitement, anxiety, and for the fun of trading.
5. If you often place orders but do not know why you placed them, then you are gambling.
6. Giving your funds or account to an unknown or unverified Trade Manager.
7. Setting orders in a 50-50 chance manner. e.g Presuming areas where to set pending orders, SL, TP on your chart. In Forex you don't presume.
8. Trying to get some part of a trend that has reversed or has exhausted its run.
9. Trading with a poorly written EA, or scam EA.
10. Holding tight to a losing trade. Refusing to close an order already in a losing position hoping it will reverse.

These are some of the ways traders gamble in Forex. 

Do not gamble with your funds, get trained, invest in quality Forex Resources, and improve your skills and knowledge in all aspects of Forex (technical & fundamental).

How To Source For FREE or Cheap Finance For Forex Trading

Forex trading is an investment that requires a great deal of finance to invest and enable good returns for the investor. Fortunately retail Forex gives the opportunity for low income investors to participate in Forex.

However the actual cost of trading Forex does not lie only in the funds for trading, but funds for other necessities like Forex Systems, Subscriptions, Hardware facilities, e.t.c, and this is why Forex comes expensive but very lucrative.

See: 1. Requirements to Start Forex Trading

       2. Challenges of trading Forex in Nigeria Part 1 & Part 2

It is important to note that every component of Forex is vital to your success. Therefore concentrating funds only on one or some parts of the components of Forex would definitely hit back at your performance in the medium or long term. 

Now the challenge here is that these components are not so cheap but are necessary. 

This article presents tips on how to source for FREE or Cheap Finances that would help you get the necessary funds you need to invest and succeed in Forex.

1. Contests 

Forex broker contests is one of the best way of getting a funded live account, cash awards, expert advisors, and other benefits that can be redeemable in cash. Brokers top the list of trade contest campaigns, and they award ideal prizes, which you could use to finance your Forex investment. Some trade contest are restricted to only live account while others are organized for demo accounts. A demo account is preferable, and accessible for all traders. One good thing about it is that real money is not required to compete.

HotForex organizes monthly demo contests with cash prizes for Three (3) runners up at the end of each month. The winners get a live funded account, which can be withdrawn (see more details - HotForex Demo to Real Contest). 

See our Forex Resources Page for Broker Listings, and find links of Forex website directory that organizes trade contests. I prefer searching for such brokers with 100ForexBrokers cyber search engine (you can get the link from our broker listings on our Forex Resources Page).

MQL also conducts Expert Advisor contests which is sponsored by top Forex firms. Being one of the top winners is an avenue to source for finances for your Forex investment.

CON

1. Contest can be very tough as you would be competing with more experienced participants.
2. The duration of the contest is often short, which might not work well for long term strategies.
3. Certain prize conditions might not favour you. E.g. cash prize might not be withdrawable, certain amount of volumes or lots must be traded before you can withdraw the cash prize, and certain prizes cannot be monetized such as vacations, and trips to resort. 

2. Free Signal Services Subscription & Forex Systems
There are lots of Free Signal Services out there you could use to improve your profits in Forex. If you are a low income investor in Forex you could use this means to shore up your account, and take some of the profits to purchase vital Forex Resources that would further improve your success in Forex. 

You can check out ForexTSD's endless list of FREE EAs in our Forex Resources Page (look out for ForexTSD on our list of Expert Advisor & Indicators)

Also look out for FREE but reliable Forex systems (EAs, Indicators, Strategies, e.t.c.) that can boost the profits in your account.

CON

1. You might not get adequate support and updates with free products.
2. Certain free subscriptions and Forex systems comes with limitations. 

3. Convert Your Strategy Into Forex Signal Services
Converting your trading strategy into Forex Signal Services

Convert Your Trading Idea Into A Forex Robot

is a good way of monetizing your skills, and making extra income, which you can use to Finance your Forex Investment. The number of clients that would subscribe to your signal service depends on the profitability of your strategy. 

MQL is one of the best places to monetize your trading strategies as signal services. It is affordable and has the widest reach to traders.

See our article on How to Convert Your Trading Strategy To Signal Services.

CON

1. You need to be extra patient to win traders confidence.
2. Very competitive, hence your strategy has to be very good.

4. Loan Facility - WebMoney, Co-operative Societies, e.t.c.
I strongly recommend extreme caution with loan facilities. It is very risky to invest in Forex with borrowed funds. I have had my fingers burnt from this before, and i got hurt really bad. However we cannot dispel this avenue as a source of financing your Forex investment. If you have to use this means then use legal entities like Co-operative societies where you can secure loans with comfortable payment duration and terms. 

WebMoney an online financial payment provider also offer loans for their members with bearable interest rate. See: WebMoney Loan Facility. I have never used this facility so i cannot tell much about it. But if you have any experience with them, we'll be glad you leave a comment. 

Don't bother seeking for loans to trade the Forex from the banks because they tag such investments as high risks. However you might get a bank grant when you apply as an institution or you have credible assets, and collateral to back up your request.

CON

1. Loan facility can be very risky due to the risky and volatile nature of Forex.
2. WebMoney requires a formal passport, and automatic scoring for members requesting loans. Your membership period and region might be used as a criteria for loan acceptance. 

5. Take Advantage of Seasonal Offers and Discounts:
Watch out for seasonal times like Christmas, Halloween,

Black Friday, e.t.c. when most Forex firms, and brokers usually offer discounts for their products. With a little budget you could still afford some of these offers. The idea here is to make good use of the product to generate more funds for other resources.

CON Seasonal timing might be a problem if you have not planned for it.

6. Convert Assets Into Funds
Please exercise caution with this tip. Forex ought not to be invested with proceeds from mortgaged properties or assets you're not willing to lose. You have to be very sure of the product you want to purchase, the broker you wish to open an account with, or the subscription you intend to follow before selling off any asset to finance it. 

I would not advise this option for beginners. However it's still a means of sourcing for funds to finance your Forex investment.

 


 7. Attend Webinars & Seminars that advertises and launches new productsThis is a choice option for Forex service producers, brokers, and others to advertise their products, and at the same time present lectures. Often times new products are launched through this forum. Although rarely do you find zero prices on products in seminars but you could be lucky to get some FREE, and at great discount too.

CON

1. Issues of unfavourable hidden conditions are sometimes tied to FREE or discounted products.

8. Bonus Offers & Low Minimum Account Opening
Some brokers allow very low minimum account opening for as low as $100. Although i would not recommend this for any serious Forex trader. Some also offer bonus deposits into your account during promotions. 

This is a way of sourcing for funds for your Forex investments.

CON

1. Very low minimum account opening is very risky. It is synonymous with gambling.
2. Some broker require large amount to be deposited before you get the bonus.
3. There has been lots of bonus withdrawal issues between clients, and certain brokers.

Forex Trading does not come easy as many traders think. The level of success you'll attain in Forex greatly depends on the level of finances, and resources you put into it.

We hope we have been able to show you some ways to secure FREE and cheap funds to finance your Forex Investment.


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