Trading stocks - page 2

Sergey Golubev
Moderator
123411
Sergey Golubev  
Henry Li #:

Sorry that I mentioned my broker's name; but I didn't want to discuss about any broker.  I just want to find out how to get live U.S. equity market datafeed into MT5 so that I can run third-party analytical tools.  It seems that MT5 has to be bridged to a broker.  But I'm confused by MT5 offering market datafeed service in MT5 platform.  Does it mean that if I purchase it, then I do not need to bridge to a broker?  Thanks for any further clarifications.

I already replied here:

Forum on trading, automated trading systems and testing trading strategies

Trading stocks

Sergey Golubev, 2021.09.03 06:17

The charts, the price on the charts, the symbols to trade (US stocks symbols for example), the name of the symbols and the time of the price on the charts - all those are related to the brokers only (one broker is providing some symbols, the other brookers - not).
There are a lot of Metatrader brokers so use google to find something for yourself according to the criterias you selected.



My example.

I like to read Forbes articles (I am receiving them on the way as rss links).
And I was reading the following:
Sorry Robinhood: Sundial Growers Could Be 79 Days From Nasdaq Delisting

I like to know about Sundial Growers.
And I want to check their charts.
Because it is interesting for me.

All I need to do is to find the broker which is proposing their stock chart.
I found one broker (I checked many brokers by creating demo accounts because it is just few seconds to do to create demo account directly from Metatrader with most of the brokers).

Yes, they are right in the article -


Because it is interesting for me: I like to read some articles about the stocks having their charts in my MT5.

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If you need "some bridges" and so on - you should program it (or use Freelance service to order what you want in "step by step" way for example).
But if you are going to use MT5 with your money so you must be confortable with this software.

Because what I am explaining here = well-known knowledge (means: most of the traders know about it).
But if you do not know so how will you use your money with something (with MT5) which you do not know how to use and what to do with?

Sorry Robinhood: Sundial Growers Could Be 79 Days From Nasdaq Delisting
Sorry Robinhood: Sundial Growers Could Be 79 Days From Nasdaq Delisting
  • 2021.09.04
  • Peter Cohan
  • www.forbes.com
Sundial has until November 22 to get its stock price above $1, otherwise Nasdaq could delist it. Why do Robinhood traders love this stock?
Henry Li
13
Henry Li  

So, if symbol for Sundial is not provided by my broker, I cannot trade it unless I open another account with a broker who provides it?  Then, I may end up with having multiple brokers in order to trade a wide range of U.S. stocks.  This sounds ridiculous as I have to put my capital in multiple accounts and pay multiple fees with brokers (some brokers charge account maintenance fee, inactivity fee, etc.)

But, you still haven't answered second part of my question:

Why live datafeed service is provided withing MT5 platform?  I don't want to trade using MT5 (I have another trading platform); I simply want live data in MT5 for third party scanning and trade setup alert tools.

Sorry, I'm new to MT5 and have not yet figured out how to make use of MT5.

Sergey Golubev
Moderator
123411
Sergey Golubev  
Henry Li #:

So, if symbol for Sundial is not provided by my broker, I cannot trade it unless I open another account with a broker who provides it?  Then, I may end up with having multiple brokers in order to trade a wide range of U.S. stocks.  This sounds ridiculous as I have to put my capital in multiple accounts and pay multiple fees with brokers (some brokers charge account maintenance fee, inactivity fee, etc.)

But, you still haven't answered second part of my question:

Why live datafeed service is provided withing MT5 platform?  I don't want to trade using MT5 (I have another trading platform); I simply want live data in MT5 for third party scanning and trade setup alert tools.

Sorry, I'm new to MT5 and have not yet figured out how to make use of MT5.

You can try to open demo account with many brokers to find the symbols you want.
You can see how many brokers I tried (demo accounts; it is free, means: we do not need to deposit money) when I wanted to find some symbols to trade and/or for technical analysis for example:

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Why live datafeed service is provided withing MT5 platform?  I don't want to trade using MT5 (I have another trading platform); I simply want live data in MT5 for third party scanning and trade setup alert tools.

The brokers are buying those live datafeed services for Metatrader (and it is their choice about which datafeed provider to use).
We as the traders can not select datafeed provider. We can select the broker.

Because Metatrader as the trading software is provided for us/traders by the brokers.
Yes, we (traders) receive Metatrader from the brokers.
And we/traders are here on the forum for several reasons:

  • we want to understand how to use it in more effective way;
  • we want to buy and/or participate in some services (Signals, Market, etc),
  • we want for some possible bugs to be fixed and/or we want for some additional feature to be done in Metatrader (because this forum is related to MetaQuotes, and the MetaQuotes is software development company).

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Selecting good broker is very difficult process.
One of the main criteria is datafeed and datafeed quality.
The traders are spending days and weeks and more to select the broker for themselves (so you can not do it "in one day").

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As I understand you are trying to find some ready-to-use solution for your project.
But I think - you will need some programmers for this project to be done in anyway.

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Because it is "money World", and no one care about what you/we want and what you/we do not want.
You can just explain everything in technical way, after that - you can find the coder who can do it (it is very difficult part of the project to find the right coder), and pay.
I know it because I am not a coder, and I am paying to the coders as well.

How do I add a stock symbol to MT5?
How do I add a stock symbol to MT5?
  • 2020.10.12
  • www.mql5.com
I am subscribed to Just2Trade-MT5 on a MT5 Demo account. How do I get marketwatch to show tickers instead of forex...
Henry Li
13
Henry Li  
Sergey Golubev #:

You can try to open demo account with many brokers to find the symbols you want.
You can see how many brokers I tried (demo accounts; it is free, means: we do not need to deposit money) when I wanted to find some symbols to trade and/or for technical analysis for example:

----------------

The brokers are buying those live datafeed services for Metatrader (and it is their choice about which datafeed provider to use).
We as the traders can not select datafeed provider. We can select the broker.

Because Metatrader as the trading software is provided for us/traders by the brokers.
Yes, we (traders) receive Metatrader from the brokers.
And we/traders are here on the forum for several reasons:

  • we want to understand how to use it in more effective way;
  • we want to buy and/or participate in some services (Signals, Market, etc),
  • we want for some possible bugs to be fixed and/or we want for some additional feature to be done in Metatrader (because this forum is related to MetaQuotes, and the MetaQuotes is software development company).

----------------
Selecting good broker is very difficult process.
One of the main criteria is datafeed and datafeed quality.
The traders are spending days and weeks and more to select the broker for themselves (so you can not do it "in one day").

----------------

As I understand you are trying to find some ready-to-use solution for your project.
But I think - you will need some programmers for this project to be done in anyway.

----------------

Because it is "money World", and no one care about what you/we want and what you/we do not want.
You can just explain everything in technical way, after that - you can find the coder who can do it (it is very difficult part of the project to find the right coder), and pay.
I know it because I am not a coder, and I am paying to the coders as well.

Sergey,

Thanks very much for your detailed explanations.  After further exploitation, I don't think MT5 fits my needs for now.  MT5 should, in the future like some other platforms, offer datafeed without involving brokers.