Metastock has won the best technical analysis software under $1,000 every year since 1993, and as a result, many people are looking for free Metastock data.
With Metastock charting software, you can:
In all seriousness, the depth and functionality of Metastock is incredible and well worth giving a free three-month trial a go.
Of course, once you buy Metastock you will need Metastock data, and this is where you need to be careful.
Depending on where you buy Metastock, you might be able to get data from them. At the very least, you can give Metastock a trial and take advantage of free MetaStock data from them.
Also, there will be some suppliers of free MetaStock data, but this may not be a good idea. Obviously, the ‘price’ is right but is it going to give you the accuracy you demand to run a professional portfolio.
The quality of your Metastock data is critical if you are going to be trading the markets long term.
If you do any form of system testing or market scans, then this becomes even more critical so choose your Metastock data supplier carefully.
Every professional trader who uses MetaStock will tell you how important the quality of your MetaStock data is. Your data is the most important part of your business.
Sure you can get free Metastock data, but there is a reason it’s free.
It has errors.
Also, you want to make sure your MetaStock data supplier cleans and adjusts the data for mistakes.
To cut costs, many MetaStock data providers don’t do this.
So you might be wondering, how many errors could there be on a daily basis?
Here a selection of what a Metastock data provider needs to keep on top of:
Metastock Data errors can drastically change your results. Click here to see what effect dodgy free Metastock data can have on your results
The answer to that question must be a resounding YES.
You absolutely must test your ideas and trading strategies before you go live.
Unfortunately, if you have inaccurate Metastock data, then your backtesting results will be wrong. This could cost you a lot of money when you start trading your systems live.
With inaccurate Metastock data, it would not be unheard of to get an entry signal for a trade you should never have entered. The only reason the signal appeared was due to inaccurate data.
Wow, you don’t let up, do you? Just kidding.
Here are three places you can go online to get free Metastock data.
Previous versions of Metastock allowed you to download or access your data, including the free stuff. Then version 13 of Metastock put an end to that, requiring a subscription through their datalink services.
However, Metastock had quite a backlash from existing owners who thought that was a little rude. As a result, Version 14, their latest and greatest, has data provided through Metastock but also the ability to download your own.
The first Metastock data provider is Premium Data.
Premium data, sometimes known as Norgate Investment Services, is well renowned in Australia for providing clean, accurate and fully adjusted Metastock data.
Further to this, the owner is an active trader just like you. As a result, he relies on the accuracy of his data to run system tests over the last five to ten years of historical data.
Why Premium Data?
As a result of their commitment to quality data, we are happy to recommend them. Norgate Investor Services initially started out as a consulting firm to the futures industry way back in 1992 and through demand for accurate data, established their data service in 1999.
Apart from the fact the owner relies on accurate data for his system tests, they also have a client base of dedicated system testers.
When these active traders find an error or a pricing mismatch or any data that is not quite right, they report it to Premium data.
This process is to benefit all traders who are diligently running system tests across multiple exchanges. You find an error, you report it, they fix it, and everyone wins.
They provide a comprehensive range of data for:
The most useful tool you’ll find is how they provide a comprehensive range of pre-selected custom folders.
Premium data conveniently organises many of the best CFD brokers group of stocks into convenient folders.
When you want to run an exploration or system test, you have the basket of securities for your preferred CFD broker.
This will save you hours of manual data entry of putting each stock into a folder one by one. I know because I had to do this several times before.
How convenient is that?
If you don’t already have a Metastock data provider then give Premium Data a trial and if you are currently using someone else, then make an informed decision and make the switch today.
The second option is by far the easiest and the one we now use.
We just subscribe to the biggest and best in the world. Metastock.
Pure and simple, it is in their best interest to make sure your trading experience is first class.
So many traders have complained over the years about dodgy data that they decided to come to the party.
Metastock offers both end-of-day and real-time data options.
The two options Metastock has available are:
Datalink has everything you need at ultra-competitive prices.
The real beauty of datalink for Metastock is the simplicity of their offering.
As many of our website visitors are from Australia (me too), you will be pleased to know our ‘small’ exchange is covered. Phew.
The real core to their offering is the backup and support. You get access to unlimited technical support. As a trader, you want this sort of guarantee and backup. You want to get your Metastock and data issues sorted ASAP. They can do it.
You can see their offer excellent flexibility with pay by the month or yearly, with the annual data fee earning you a discount.
Many of you may have run a search for the company name Equis International.
Equis used to be the owner of the trademarks and rights of Metastock.
As of May 1, 2013, Equis International was acquired by Innovative Market Analysis LLC.
You will no longer hear of Equis International going forward.
In 2018, Metastock is now owned by Innovative Market Analysis LLC.
Hopefully, you have found the information on Metastock and free Metastock data helpful. If you have any resources you’d like us to mention on this page, email through at info [at] learn CFDs [dot] [com].
All the best with your trading.