Metastock suitability and data - advice would be great

watson

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Dear All,

I used to be very interested in TA and am looking to get back into it. I used to use Updata in the days before they took over Indexia, but after reading lots on these and other forums I am now looking at Metastock. This is partly because I may also be interested in US data and also because of the ability to program your own formulas into Metastock easily.

Having looked at the Metastock site it seems you can "rent" the software with data on the US and UK for $88 p/m. I wonder if any users of Metastock do it this way? Since there is some rumour about a Metastock version 10 I would presume one of the advantages is a "free" upgrade...

What is the Reuters data for the UK like and do most people use Reuters? Should I look at an alternative?I would also be interested in how much history one gets from Reuters for small vs. large cap stocks.

Any comments gratefully received.

Many thanks,

Toby.

Here is a summary of the pricing info I have found thus far:

Metastock.com:
$499: approx £283
$59 p/m : approx £33.47
with North American and European data from Reuters Datalink:
$88 p/m: approx £49.92
or just London Stock Exchange Level 1 Domestic:
$7.20 p/m: approx £4.08

Q-Data:
MS 9 EOD: £330
with 15 months of data downloads and historical data: £450
US data is listed as £0 on their site - must be a mistake!

Winrow (+VAT):
MS 9 EOD: £285
Data via Datalink: $24.99

Paritech (inc. VAT):
MS 9 EOD £299
with 12 months of data downloads using Paritech Data Director: £399

Note that I haven't included postage (or, presumably, export duty on software from the US), but there are some differences in price. However, as I posted above, the main question appears where to get data from...
 
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All above listed are good source of data.....The best thing about MS is that you are not tied in to any data supplier....I would look at bought package rather than rented as you may be tied in with a single data supplier......

If you look at Reuters the they supply data for 4 zones as below...

North American Stocks & US Mutual Funds $24.95/mo $269.95/yr
European Stocks & Mutual Funds $24.95/mo $269.95/yr
Asian Stocks & Mutual Funds $24.95/mo $269.95/yr
Worldwide Futures $24.95/mo $269.95/yr
International Indices
*Cannot be ordered alone. You must order or already be subscribed to one of the above packages to order International Indices. $9.95/mo $107.95/yr

Annual packages yield an estimated 10% savings ..see link below...

http://www.equis.com/products/endofday/reutersdatalink/?overview

I also use Sharescope to get some data from the package....The sharescope is basically a good source of fundamentals and has a better then average charting package built in. The best value for money package that is fast and well programmed.
 
Thanks Zambuck,

I think that's a good point about renting vs. buying.

Do you and other think that Reuters is the best option compared to the others I metioned above and does anyone have any experience of the companies mentioned?

One thing that I was interested to note is that the Metastock forum is quiet in relation to, for example, that for Worden Telechart, which would be great were it not for not being able to use it for the UK.

Any other pointers or advice gratefully received.

Toby.
 
Toby

Best thing would be to do a trial run with Reuters.....I think you will get a monthly contract so you can ditch the package if it does not meet the need.

Prestel will do a yearly contract while Investor Ease will do a monthly contract...I have used both in past and they are very good indeed....Investor Ease has a tie in with shrecrazy brokers...

Also ask the suppliers you shortlist if their data will be supplied with NAMES as well as EPIC and rest of the data.....

Will end of the day data provide US data TODAY and not NEXT DAY as some suppliers will do...

regards
 
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Trial for Metastock $1.00 on Ebay

My first posting so hope I don't violate any rules. My fiance bought the subscription version of Metastock Pro 9.1 trial on eBay. for $1.00. The seller runs it fairly often.

MetaStock 9.1 w/ Reuters DataLink (New/Latest Version)
No strings. Try for just $1.00 (Authorized Distributor)


It was a great test for him but the learning curve was too high, and his patience too low ;) . I had no time to test it, but will later when I can fully take advantage of it. It included ICE ADAPTICK module too.. You must provide your credit card for the $59.00 a month 2nd month fee, but you only get charged if you keep it. (Trust me, I made sure he cancelled before wasting funds). He bagged it, in favour of something less complicated. But he is just learning about trading as opposed to investing.

Its a great way to see before going through the major investment of funds. The beauty of it is, no contract. Plus its purely month to month. Personally I will purchase a stand alone package once I find something that fits my needs.

zambuck said:
Toby

Best thing would be to do a trial run with Reuters.....I think you will get a monthly contract so you can ditch the package if it does not meet the need.

Prestel will do a yearly contract while Investor Ease will do a monthly contract...I have used both in past and they are very good indeed....Investor Ease has a tie in with shrecrazy brokers...

Also ask the suppliers you shortlist if their data will be supplied with NAMES as well as EPIC and rest of the data.....

Will end of the day data provide US data TODAY and not NEXT DAY as some suppliers will do...

regards
 
zam, i am at present using sharescope its good basic stuff,but has its limitations as in no search engine,i have enquired about meta stock eod. which they tell me has a search engine,is it poss. to run the two together?as i like the format on sharescope.
 
mroalan

Yes, it is possible to run these two together....I use both so I know...

Sharescope has a facility of data mining and few other features, while MS has a facility of Exploration (search engine), System Test, Expert, Indicators and has a programming language to write all of the above - as you want it.

You can have any data supplier for MS. You can import any data into it or convert data in any format.

It s also possible to export data fron Sharescope onto MS.

I would call Sharescope as a very good fundamental package - no competiotion here at all in my opinion - which is trying hard to be a TA package. While MS is very much a TA package.

I use data from Reuters now as I track Asian data along with Europe.

If you read the messages from few months back on this site then you will see some good discussion points from others...

regards

zambuck
mroalan said:
zam, i am at present using sharescope its good basic stuff,but has its limitations as in no search engine,i have enquired about meta stock eod. which they tell me has a search engine,is it poss. to run the two together?as i like the format on sharescope.
 
zam,thanks for the reply,i am at present swopping e-mails with Devin at MS.and am finding it hard going,what i,m looking at as an example is,look for oversold or bought gap up or down with volume,would this sequence require a code to enter or would it be as easy as drag and drop?and what eod prog,would i require?
 
Thanks for the helpful pointers in this thread. I have bought a copy of Metastock now, and an considering the data aspect. I have been trying out HQuote which downloads data via Yahoo. I was a bit sceptical of this considering the "free" nature, but I have to report that it seems to be OK. If anyone else uses this I would be interested to hear from them.

The question now is how to make best use of the software! :) I would be really interested to hear how others use it day-to-day and whether you use the Explorer to find suitable trading candidates.

Toby.
 
You have next 18-24 months at least to get 'organised' in the sense that you need to get grips with all aspects of the package.....

Time to set up layouts, templates, smart charts etc etc.....

Forget yahoo and free data......in TA there is a saying....s**t in, s**t out.....If your data is not accurate or consistent then forget TA.....yahoo data can have errors so be careful...

As far as how to make 'best use'.....I am still working on that....!!!
 
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