Real Time Data

What is Real Time Data?

• Before going into MCX Real Time Data, we have to understand the term Real Time Data. By Real Time Data, we mean the truly accurate, live and timely data of the stock market( Equity, Commodity, Currency, Options) movements that are fed in different charting platforms like Ami broker, Metastock, Metatrader etc. Real time data for stock charts is extremely essential for Share Market Traders, Brokers and Analysts. 

Types of Real Time Data

In India there are mainly five types of real time data to trade on.

• NSE real time data: This data is delivered by National Stock Exchange of India. It is perhaps the most popular equity live data in India. It comprises of Equity Cash data, Equity Futures and Options data. Nifty data is very important in this segment. It is the benchmark index whose trend depicts the overall share market trend in India.
   
• MCX real time data: This data is delivered by Multi Commodity Exchange of India. It is considered as the most popular commodity live data in India. It comprises of many Commodities like agricultural, precious metals, energy and currencies. Presently MCX Currencies data is gaining huge popularity among traders and brokers.
   
• NCDEX real time data: This data is delivered by National Commodities and Derivatives Exchange of India. It is popular for trading the agricultural commodities of India and hence, agricultural commodities are its uniqueness. 
   
• BSE real time data: This stock exchange stands for Stock Exchange of Mumbai. The term "Dalal Street" is closely related to this stock exchange. It is very important because it is the oldest stock exchange of India. You all are familiar with "Sensex" right? Yes, Sensex is the benchmark index of BSE. This data is delivered by BSE.
   
  Most popular time intervals for Real Time Data - 
   
  • For Intraday trading (also called Daily trading), one should use 5 minutes interval. This time interval is time tested and statistically most successful for Day traders. Below 5 minutes interval, the chart becomes over-jittery and creates very short swings which are harmful for day traders. So the rule of thumb is "stick with 5 minutes interval" during day trading.

  
  

  
  

  • For short term trading (i.e. done for few days), one should follow 15 minutes time interval in charts. Because it smooths the chart and gives opportunity to enter into long swings. This gives more profit over short term. One question may arise in your mind that then why not use 30 minutes? Yes, you may use 30 minutes but statistically 15 minutes time frame has proved itself most successful for short term trading perspectives.

   

 

Key Factors to judge the quality of Real Time Data - 

Truly "real time data feed" - Quality of Real Time Data matters the most and is the primary when it comes to perform Technical Analysis. Data should be absolutely Real Time Data with negligible delay period to do the accurate Analysis. Choose companies that provides live demonstrations so that you can judge the quality of the Real Time Data.

How to choose the right Real Time Data

Price- Price is also a significant factor determining which Real Time Data Provider to choose. But price should act as secondary factor after judging the Quality of Real time Data. Most companies nowadays are offering almost similar prices of their products delivering Real Time Data. So, price remains competitive in today's market. 

After sales service. Many traders think that cheap rate means bad support. So traders should choose Service Providers that offer Prompt and Quality Technical Support Service. Companies like Rtdsdata.com has dedicated live chat support for 24 hours for any assistance thus making them even more popular among numerous Service Providers. 

Software Simplicity- Traders should make sure that products that are being offered are simple, extremely user friendly, robust and also have good compatibility in even slow speed Internet. Choose a Service Provider that offers customer friendly products. 

Problem solving and data recoverability-  It is a very vital factor that should never be ignored. Besides all the customer friendly features that one has to look for, traders should also mind the fact that those software's should have good problem solving capability as well as Data Recoverability feature so that data is not lost in account of any technical issues. Back filling of Data and Recovery of lost data is very crucial for Stock Market Data. 

Automatic Simultaneous Updations- Stock Traders and analysts are very busy during trading hours. It is very tough for them to separately select and update scripts. Software's should automatically and simultaneously perform live Updations of Back filling and Real Time Data so that time is not lost.

Long-run stability and service-  Many data providers emerge in market suddenly with sophisticated website to attract traders and general customers. Hence, they lack in quality and service and just vanish from the market all of a sudden. Traders and Customers needs to be aware of these unscrupulous Companies! 


Thank You !