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Minimum records to load for explorations [RESOLVED]
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/14/2005(UTC) Posts: 65 Location: Cocoa, Florida
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I'm a little uncertain of this with the information I found in the help section. I use candlesticks for a lot of explorations and want to make sure I've got it right. When I started using Metastock about 10 days ago, I downloaded 2 years worth of data from Reuters but I usually display only 3 months on my screen...zooming out when needed. Because of the 2 years of data, I have this Load Records set at 500. Is this the right setting for me?
Steve
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
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Hi Steve,
I wish I could tell you "Yes it is the right answer" but it really depends on what you are looking for in your exploration and also the time fram you trade.
To give you an example, let's say I only look at the last 3 months of data and my exploration looks for a cross of 2 moving averages that uses periods less than 10. Then I would only load 3 months worth of data. I don't really need more ....
if on the other hand I am more of a long term type of trader and I use much longer averages then I would load the appropriate amount of data...
Etc ...
now to go back to loading 500 periods ... Why is it recommended by most people and support reps etc ...
Simply because a lot of exploration in Metastock and Plug ins on the Market require at least that amount to work properly. So to avoid having users changing their loading periods and run into some problems it is custom to say "you need 500 periods of data loaded".
Hope this clears things up for you.
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Rank: Advanced Member
Groups: Registered, Registered Users Joined: 3/14/2005(UTC) Posts: 65 Location: Cocoa, Florida
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Thanks Patrick. I'd leave the setting alone except that it states when you use Candlesticks to change the load options. I swing trade mostly holding trades for 3-5 days usually so I guess I should change this closer to 90 or 100. However I do use the 50 and 200 day moving averages as reference so I assume I should have at least 200 records loaded?
I get most of the information I need off of the 3 month view I have on the screen but also look back sometimes. I was confused where the help section says "enter a value equal to the number of periods loaded in the chart". My thinking was because I actually have 2 years worth of data in the charts that I had to use 500. I use Candlesticks for most of my Explorations so I'll change the setting back to "load minimum" whenever I do something else. What setting would you use in my case?
Steve
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers Joined: 9/8/2004(UTC) Posts: 2,266
Was thanked: 1 time(s) in 1 post(s)
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I would never use "load minimum records", it might give you different results on exponential indicators.
If you are using anything exponential you need a certain amount of data to smooth these indicators and therefore my suggestion is to leave the loaded option at 500 and do not worry much more about it ...
Patrick
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Minimum records to load for explorations [RESOLVED]
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