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Very well stated. Futures data has always been a huge problem unless
one wants to pay through the nose. I won't give them the
satisfaction. I keep thousands of stock charts which I get through
Yahoo/ML Downloader for free. I follow and trade 27 futures. I
manually download them since there are so few. (To me, the MS data
window makes it very easy and pretty fast) The cash market is yet
another big problem but I quit using cash as part of my trading some
years ago. Somebody should start a really good futures site with free
or very low cost data downloads. It would be busy! I'm too old to
tackle it.
Bob
--
- In equismetastock@xxxx, JayTownsend@xxxx wrote:
> Hi:
>
> I've been watching the discussion on data providers with interest
because for
> about the last month I have been searching for one myself. I have
looked at
> the free services, including Yahoo, and the majority don't offer
futures
> data, only stock data. Even though some sites indicate that Yahoo
has
> futures data, I didn't find it there. I think that futures data is
a little
> more complex than stock and options.
>
> I am interested only in end of day data and my requirements for
futures data
> is it must have cash data along with the contract data. After
searching the
> web for free or on the cheap data I narrowed in on Reuters. In
beginning to
> set up my folders with The Downloader I soon made the discovery
that Reuters
> does not provide cash data for a significant number of
commodities. (Trying
> to understand their contract symbols file was a chore as they have
altered
> the exchanges symbols and trying to wade through their 1200 cash
symbols file
> is next to impossible.) As an example, they have no cash data for
any of the
> meats and livestock as well as several of the softs and
financials. On my
> initial upgrade to MetaStock 8.0, Equis support advised me that
UA/CSI's data
> was not compatible with MetaStock. It took me almost a month of
many emails
> to Equis Sales and Support as well as UA/CSI Sales and Support to
determine
> to my satisfaction that UA/CSI is in fact compatible with
MetaStock. UA/CSI
> has been in been in close contact with Equis and has all the tools
and
> formats to be in sync with them up through version 8.0 and in my
estimation
> they are in sync. Two or three years ago I had a MetaStock plug-in
fail
> because of an incompatibility problem so this has been near and
dear to me.
> I don't intend to run any more plug-ins, but that difficulty may be
fixed
> anyway. I have received a demo copy of UA and their data and have
run
> extensive tests and find that it does work with MS 8.0.
>
> Other advantages to UA/CSI are that they provide volume data at the
contract
> level (Reuters only reports total volume, their data format does
not support
> contract level volume), and they make adjustments to incorrect data
on a
> daily basis. Exchanges make errors in reporting every day and then
correct
> it either the next day or in days following. I can't find anything
in
> Reuters/The Downloader where these data corrections are applied.
And of
> course the data vendor themselves make data errors too. But UA/CSI
corrects
> all of these. There are other diffugalties with data too. For
example it is
> not uncommon for an exchange to report a closing price that is out
of range
> of the daily high and low. UA/CSI gives you the option of either
allowing it
> to remain out of bounds, or to allow the high or low to extend to
the close.
>
> Futures data itself has inherent problems. All end of day volume
figures are
> estimates and when the real ones come out the next day they can be
so
> different as to not be believable. Also open interest is always
reported on
> a one-day delay. These factors have to be kept in mind if you are
using
> either one in formulas in any of your indicators. UA/CSI always
reports the
> estimated volume, and then adjusts it the next day to the actual.
I don't
> know how Reuters handles this.
>
> I am in no way associated with UA/CSI but feel that when it comes
to data one
> must first determine their personal requirements before making a
selection
> and this is something that I've been looking at for the past
month. Twenty
> years ago I entered my own data manually, then eventually went to
CSI, and
> then to UA. I've been out of the market for a couple of years but
am
> reentering and cash data is a part of my trading technique. I've
got to have
> it, and have discovered that it is difficult to come by.
>
> Jay
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