Would this be of any use??

[cd173]

Hi

Would it be of any use to anyone to have a facility on T2W for downloading intraday data posted by members? Say, if you had various timeframes avaliable such as 1min, 5min and 15min etc. in weekly or monthly blocks in text format for various futures.
Could this possibly be of any help in speeding up the backtesting, mainly for newbies also?
Another reason is that it could be useful to pluging any data holes you may have with your
charting software.
Perhaps one for the mods?
If it was of some use, would there be any technical or legal reasons as to why it could not be done??

Silly idea perhaps...................

All feedback welcome!

Cheers
C

 

[DaveJB]

...Assuming you are taking the data from a data supplier I'd imagine you'll find you aren't meant to do it , check your agreement when signing up to whoever.... when you think about it every man and his dog would take an esignal feed then flog it to 20+ mates at $20 a month if it weren't prohibited - I doubt any commercial data supplier would be overly likely to say it's okay as long as you don't charge for it.

I'm fairly sure that if you redistribute the data provided by exchanges they tend to want paying for the privilege of doing so as well.

Dave

 

[roguetrader]

...Assuming you are taking the data from a data supplier I'd imagine you'll find you aren't meant to do it , check your agreement when signing up to whoever.... when you think about it every man and his dog would take an esignal feed then flog it to 20+ mates at $20 a month if it weren't prohibited - I doubt any commercial data supplier would be overly likely to say it's okay as long as you don't charge for it.

I'm fairly sure that if you redistribute the data provided by exchanges they tend to want paying for the privilege of doing so as well.

Dave

Quite right, I know all the data agreements I have signed expressly prohibit recirculation of their data. Thoughtful idea though.

 

[mutantcar]

How about IB data?

It seems to me, that's exactly what SCMagic are doing - collecting the data & reselling it? They post quite freely on IB forums, so IB seem quite happy with it?

 

[cd173]

Thanks for the feedback guys!

I thought there might be some legal implication. Seems somewhat unfair though as you've paid for the data therefore it should be yours to do with as you so wish....

Cheers
C

 

[roguetrader]

Thanks for the feedback guys!

I thought there might be some legal implication. Seems somewhat unfair though as you've paid for the data therefore it should be yours to do with as you so wish....

Cheers
C

It's more or less the same idea as filesharing, people have music cd's, movies etc and share them with other people over the internet. They are then in breach of copyright laws under the rules of re-distribution. If you look to the bottom of an eSignal chart for example you will see that it is protected by copyright.

 

[roguetrader]

How about IB data?

It seems to me, that's exactly what SCMagic are doing - collecting the data & reselling it? They post quite freely on IB forums, so IB seem quite happy with it?

I don't know who SCMagic are or in what context they are "reproducing" data. But if they are reproducing data from IB then they will most likely have an agreement with IB to do so.

 

[DaveJB]

By the same token the Daily Mirror sell you a paper, not the right to photocopy it and give it away - if you give a data supplier's data away for free you become the only person paying the supplier for it ... would you like to guess how much they'd charge you each month if you caused their sales to dip from say 40,000 customers to 1?
Supplying data is not cheap - you pay the exchanges (as far as my extremely limited knowledge goes) for the right to redistribute their data, in fact if you produce add ons for popular programs that have data included (Sharescope, TC2000, esignal and so forth) you generally find in the terms and conditions that you cannot bung the data out elsewhere - ie you can't program something that strips data from TC2000 and lets people then import that into Metastock say. (It's okay for TC2000 to do that, but not okay for everyone who can write the 'stripper' program to do that).

If you supply data obtained from (eg) TC2000 to others, then you have joined the data distribution chain and the markets who charge Worden (TC2000's parent company) for using their data will then want a license fee from YOU for distributing their data.... it's not the program you grab data from, it's the original source of the data (the exchanges) who want a fee for it.

Dave