If you are using Metastock stock charting software to track the Australian market then you probably know that your success depends largely on the quality of the data you are using to feed your analysis system software. Unless your data is downloaded quickly, cleanly, and in a timely matter, you might as well be tracking the market with pen and paper. Luckily, there are a number of good reliable data providers for Metastock ASX out there. You will need to do a little homework in order to determine which is best for you, but you can certainly find an ASX data supplier that will meet your needs.
Speaking of needs, what are yours? Are you tracking the market throughout the day or are you looking at the end of day (EOD) market? That is something that you will want to consider prior to subscribing to a data service. As might be expected, more frequent updates may be a bit more expensive than EOD but the need for accuracy is just as important.
If you are shopping for a free metastock ASX data feed then you need to be sure that you read up on the reliability of the data. User forums can provide you with a lot of good insight into how dependable these feeds are. For a hobbyist, free ASX data can indeed sometimes do the trick. If, however, you are a bit more serious about your trading you should probably consider subscribing to a commercial database.
Hand in hand with the issue of free versus subscription metastock ASX data is the topic of ease of use. You definitely want to consider how difficult it is to get your metastock ASX data into your database. For most people, one click downloads and imports make the most sense. That means that the data you get needs to be in a format that will be compatible with the actual software engine you are running. While conversions are certainly an option, they do take time and a bit more technical expertise than data that is already formatted to be brought into the most popular packages such as MetaStockTM, BullCharts, and AmiBroker. The safest bet is to use data that comes to you in the MetaStockTM format as this is the industry standard.
In addition to high quality data, you should look for and expect high quality customer service. Telephone and email support are your best bet since you never know when you might need help. You should also consider whether or not your provider offers customization. This can be of great help in managing your metastock ASX securities. Historical data that is clean and adjusted for capital reconstruction can help you back test your strategies.
In short, you need a metastock ASX data provider that offers clean data, timely data, high quality customer services, customization, and historical data. It sounds like a tall order but there are good metastock ASX suppliers that meet those criteria. All you need to do is do a little looking.
Author Resource:-
Oracle Traders are an Australian based company dedicated to helping retail investors achieve trading success. Visit us for information on metastock data and metastock ASX.
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