Seeking commodities/shares data including volume

[Wizard Trader]

I just opened a spread betting account with IG, but unfortunately they don't provide a volume indicator with their PureDeal charts. I'm fairly new to all this, but I know that a volume indicator is crucial. The markets I want to bet on are commodities and shares. Are there any good software packages or websites that offer the type of data I'm looking for. I'm particularly interested in trading metals; spot gold etc, and I'm prepared to pay up to £20/month. Though, what's available for free?

Any help is greatly appreciated. Great forum BTW!

 

[RichardDale]

Most metals are traded using futures... the exception to this is the "spot gold" instrument that you see (which is not centralised so no volume can be provided). You may be able to use the COMEX gold futures as a proxy for such volume.

Are you after intraday or end-of-day data?

Which stock markets markets are you looking at?

With your budget you won't get real-time intraday data...

 

[Wizard Trader]

Hi Richard and thanks for replying.

Are you after intraday or end-of-day data?

Intraday would be nice, but I'm not planning on being a scalper; more swing or position, so end-of-day-data might be okay.

Which stock markets markets are you looking at?

I'm not really sure TBH. The day-job prevents trading before 5pm. Which commodities (and perhaps stock; particularly metal/energy stocks) market(s) would you recommend?

With your budget you won't get real-time intraday data...

On my kind of budget, is it possible to get any type of intraday (volume) data, even if it's only updated every 15 minutes or so?

And, would it be a case of using a website or a software charting-package?

 

[RichardDale]

Hi Wizard,

I think you need to take a step back and think about your trading system methdology, then look for analysis software and/or web sites that may help you do it.

For example, if you want to use a purely mechanical approach using indicators/formulae to determine entry and exit points, and you want to do detailed backtesting of your scenarios, you might look at AmiBroker, Wealth Lab etc. From there you can consider a data feed that is suitable for that software.

Alternatively if you're a swing trader looking at price/volume patterns as they develop then you might find a web-based chart to be sufficient for your needs.

Each market exhibits its own characteristics (eg. seasonality in commodities) and challengers (futures markets have multiple deliveries - which one(s) will you use - how will you decide to switch analysis to the next delivery etc.) so perhaps you also need to think about which markets you want to specialise in first.

There are some software packages that provide delayed intraday volume for commodities but again it really depends what you want to do with it.

Welcome to the journey of becoming a trader - my best advice is to specialise rather than trying to trade 80% of the instruments that are out there.

 

[Wizard Trader]

Hi Richard,

Given that I'm so new, it's hard to know exactly which markets I want to trade and which tools to use.

However, I've definitely decided on the following criteria:

Markets: Commodities; particularly precious metals and energy, simply because they're entering a bull market. Stocks; but only those related to precious metals and energy, such as mining stocks, which will benefit greatly from the oncoming bull market.

Trading style: Swing or position trading - not intraday - drawing upon both fundamental and technical analysis, 50/50.

Now, with respect to markets, which would you recommend? Due to the day job, trading hours will be restricted from 5pm GMT, through until New York closes at 9pm GMT, with weekends entirely free. Trading spot silver and gold, could be done during weekends as well as evening. However, I think I'm right in saying there's no way to obtain volume information on those markets? Therefore, that leaves futures, which can only be traded during market hours, right?

Also, which charting packages/websites would you recommend for swing/position-trading commodities futures and options? I'm also looking to trade stock in mining and energy companies so will need charts for these too.

Yesterday I discovered google finance which offers charts for loads of companies, the only apparent drawback being that volume data is delayed.

Stockcharts also looked pretty good. I'm thinking about signing-up for their Extra! Charting Service.

Cheers,
WT

 

[david22]

try openecry for volume data for the futures and commodities real time
www.openecry.com. 14 day trial, plus others like tradecentre pro + cannon futures

thinkorswim offer free realtime stock and volume data for usa stocks only.
you could try also www.freestockcharts.com for usa stocks and indices..

for uk stocks you could try londonstockexchange for a product called exchange-insight
for £16.

 

[Wizard Trader]

Hi David and thanks for the reply.

I've decided that I want to swing or trend-trade commodities futures. Is openecry the only site you'd recommend?

Cheers,

WT

 

[david22]

WT you could also try ninjatrader with a zenfire feeds which gives you
30 days free aceess to real time data for futures & commodities. There's nothing stopping
you signing up another 30 days free by using anther email address.

 

[thos]

I know you have decided on trading commodities, but Puredeal does have volume indicators for shares. It also includes free Realtime data for a cut-down version of ProRealTime. What would be nice would be volume on indices such as CAC and BEL and breadth indicators.

 

[david22]

thos is puredeal from igindex?
if so are you sure they give real time volume data for shares?
spreadbetting firms dont provide volume in general.

 

[thos]

thos is puredeal from igindex?
if so are you sure they give real time volume data for shares?
spreadbetting firms dont provide volume in general.

I don't know about the spreadbetting platform, but they do for CFDs. Puredeal is what you get from IGMarkets.

 

[Wizard Trader]

I know you have decided on trading commodities, but Puredeal does have volume indicators for shares.

No it doesn't. I just checked. It has a volume checkbox, but it doesn't do anything. Perhaps this is a feature IG will add at a later date.

Anyway, I've decided to trade commodities and leave shares alone altogether; at least until I've got some trading experience.

I don't want to install any platform software onto my system. What websites would you guys recommend for commodity charts?

 

[thos]

No it doesn't. I just checked. It has a volume checkbox, but it doesn't do anything. Perhaps this is a feature IG will add at a later date.

Anyway, I've decided to trade commodities and leave shares alone altogether; at least until I've got some trading experience.

I don't want to install any platform software onto my system. What websites would you guys recommend for commodity charts?

Attached printscreen from IGMarkets (CFD) Puredeal showing volume and the other available indicators, for anybody interested. This is the internal system, not ProRealtime.

 

[Wizard Trader]

Well that's weird because it doesn't show volume on my version. I even looked at exactly the same stock and ticked the volume checkbox.

????

 

[thos]

Well that's weird because it doesn't show volume on my version. I even looked at exactly the same stock and ticked the volume checkbox.

????

Perhaps it is available for CFDs but not spreadbetting for some reason.

 

[Wizard Trader]

That must be the case I'm afraid. After all, it's in IG's interest that their spread betters lose!