Metastock or Moneycontrol stockcharts???

#1
Dear friends,

I'm new to the field of investing and dont know much about technical analysis.

Initially i used to rely on the information fetched by money-rediff.com
later on divulged to in.finance.yahoo.in (or .com) i forgot to fetch stock info.

Interestingly when i came across www.moneycontrol.com i stopped using both yahoo and rediff as my prime source of data and relied intrinsically on moneycontrol.com interactive charts.

Of lately i got an opportunity to sit infront of my friends pc to review his metastock trader.
after some time i realized metastock was real pain in the ***
first you would have to compile so much data, then convert it and blah blah blah and still you're not done, you have to split and what not? how on earth does a novice do all this?

i found moneycontrol.com charts far superior than metastock and much more interactive too.

why would one waste their money on such technical software, if you get a better option for free.

the only possible way of metastock making sense is if you would purchase it from viratech.com as i believe they are the sole providers of eod and historical eod data alongwith the ability to incorporate new stocks realtime! hmmm thats interesting, no hassles. But is it really worth it?

Is in not wise to invest your hard earned money in equities rather than in such software if your investment quantum in not humongous?

metastock users out there, how on earth do you manage to convert and include stock splits in your EOD data?

i did find a post by Mr hiren, who has provided EOD data upto 2008, but what after that? We witnessed the biggest stock market crash thereafter. How and who would convert such data, its too laborious for me :(

but i truly appreciate the hardwork done by mr hiren, truly kind and deserving appreciation :thumb:

but i really wonder, is it worth buying metastock and sit compiling all historical data or use moneycontrol.com/interactive charts which is free :clap:

would love to hear your suggestions

thanks
 

sanjosedesi

Well-Known Member
#2
I pay viratech. The question is whether you have the time and whether you want to spend the effort to get this freebie. I do not recall, but I think I am paying about 4 K per month for the feed, isn't that you would recover from the market if you had that much extra time to analyze? Of course it depends on the amount in market, but even if you had 10 L, it is only 5 % of the total.

Try google finance also, I tried some of their technical stuff (MAs, RSI) and it seems to work reasonably well. I create a layout for one security, and then change the URL to switch to another. Or you can go do it for every stock you track and bookmark them all.
 
#4
Dear friends,
Interestingly when i came across www.moneycontrol.com i stopped using both yahoo and rediff as my prime source of data and relied intrinsically on moneycontrol.com interactive charts.
...
...
after some time i realized metastock was real pain in the ***
first you would have to compile so much data, then convert it and blah blah blah and still you're not done, you have to split and what not? how on earth does a novice do all this?

i found moneycontrol.com charts far superior than metastock and much more interactive too.
I myself use moneycontrol as it suits my requirements - I'm NOT an intraday trader - I trade intraweeks more of swing type.

What about people - intraday traders who needs 1/15/30 min/hourly charts with no delay? Can moneycontrol handle that?

Why only viratech? how about these providers?

http://www.shareguru.in
http://esignalindia.com
http://www.istocksystems.com/price.php
http://www.truedataindia.com

I don't promote these but I've done my homework while beginning to trade and know these facts.
 
#5
@ amlearning, thanks for your reply.

now it makes me understand why people are using metastock afterall, intraday trading!

gr8 but i'm not into intraday trading yet, being a novice i would like to learn the basics first before divulging in day trades.

and as far as viratech is concerned, that was the only software source i knew providing metastock data streams for BSE/NSE

the list you provided enlightens my choice gamut if in future i intend to procure any :)

happy trading.

PS: i cant live without moneycontrol for the time being, its free and pretty good too :thumb:
 

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