What is Market Analysis?
Market Analysis is technical analysis procedure suitable for traders who trades stocks, futures, currencies. With the help of market analysis, a trader can observe the price movements from various perspectives and then can predict direction of movements of price. Market Analysis is a vital aspect in trading as it applies various standard and highly accepted statistical tools and calculations to forecast trends. A market analyst may look upon the historical data of a security or may perform analysis based on the real time data fed from exchange.
Role of Market Analyst
An accomplished technical analyst knows how to apply the techniques, and more importantly, knows how to interpret the analysis to make effective trading decisions. Market Analysts rely on the market data based on which they decide on the trading. Market Analysts observe the price performance of various entities. They are well equipped with profound knowledge and the ability to understand the all the unambiguous situations that may arise due to trading.
Where to get the data from?
Market Analysis is technical analysis procedure suitable for traders who trades stocks, futures, currencies. With the help of market analysis, a trader can observe the price movements from various perspectives and then can predict direction of movements of price. Market Analysis is a vital aspect in trading as it applies various standard and highly accepted statistical tools and calculations to forecast trends. A market analyst may look upon the historical data of a security or may perform analysis based on the real time data fed from exchange.
Role of Market Analyst
An accomplished technical analyst knows how to apply the techniques, and more importantly, knows how to interpret the analysis to make effective trading decisions. Market Analysts rely on the market data based on which they decide on the trading. Market Analysts observe the price performance of various entities. They are well equipped with profound knowledge and the ability to understand the all the unambiguous situations that may arise due to trading.
Where to get the data from?
- Data can be obtained from Market exchanges through various Data Service Providers. Market Analysts read data in a variety of data formats including the most common Amibroker and Metastock format. Data from the exchange are retrieved and then integrated into world class charting software's like Amibroker and Metastock which generates charts or graphs and shows price, volume movements updations. Quality of data has to be very good for performing accurate analysis.
- There are many market data providers. But traders need to exercise caution while choosing the right data service provider. As there are many data providers which claims to be very good in the business but in reality are junk providers with poor quality data services. One very good data service provider is www.rtdsdata.com. They provide real time data into the charts of Amibroker and Metastock as well as provide round the clock technical assistance as well. There are certain factors like Quality, Price, Data Recoverability, Data Accuracy and Integrity, After Sales Support which should not be neglected.
- Charts and technical analysis can also be obtained from various financial websites like finance.yahoo.com, google.com/finance, charts.com
