Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users Joined: 10/28/2004(UTC) Posts: 3,111 Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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II
As data is what you are going to be analysing, it is ESSENTIAL that you have ALL of the CORRECT data. There are many data providers; some are good, some not so. Some are free and some are quite expensive. If you don't have good, reliable data, then how can you make good decisions? Bad data is worse than no data.
I recently swapped over my data providers (in Australia). I thought I was happy before, but am even happier now! I didn't really know there could be a difference, but there is. Do some shopping around, get the service you want for the price you want. Services might include: daily downloads, historical backups, intraday snapshots, split/merger/consolidations, watchlists/custom lists/custom folders, composite data (TRIN/Adv/Dec etc), download at close, download after midnight, separation of stocks, options and warrants, international indicies and currencies, delete expired stocks etc etc etc
Remember two rules: "If you don't ask for it, you don't get it" and "You get what you pay for."
My data provider gave me a historical data download, then each day I take my incremental daily data (I also get snapshots of the market during the day) This means I dont have to download the entire history every day. I believe just about all good data providers have this service. It takes me about 15 seconds to download the EOD data and about another 45 seconds or so for it to be written to my HD, and I dont have anywhere near 1.5Mbs!!! (Dreaming.... of the day!)
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How much data do you have to load?
For explorations and indicators like the EMA that always keep some part of history in their computations it is essential to have "enough" data loaded. Some people have done tests to quantify how much is enough, but the general rule of thumb is about, five times the length of the function. e.g. if you are going to use Mov(C,100,E) load 5x100 bars on your chart and in the exploration.
You can load up to 65500 bars of data for each stock. For my charts, I load all the data (my machine can handle it - well at least let me say I haven't had the troubles that some others have had) and show one year on the page. In my explorations, because I do not use EMAs, Wilders etc I can get by with loading minimum data, but I always load 500 bars (approx two years) just to be on the safe side.
I don't think there is a hard and fast answer, except to say, experiment a little. Do a couple of explorations using EMAs etc and compare the exploration results with the chart. Load different amounts of data for the chart and the exploration and compare the results again. If you notice any differences, try to figure what is causing the aberration. If you cannot figure it out, just ask here.
Hope this helps.
wabbit :D
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