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Tomasz,
All good questions. I was waiting for you to ask, in fact.
As it stands, AB customers are going to come in different flavors --
1) those who are testing every conceivable product, and are on a
tight budget in order to do so; and 2) those who want to try
different data feeds to make sure they are getting the best value
for their money; and 3) those who look at what they spend on regular
living costs, and compare eSignal's fees against that and realize
there are a lot of con artists in the trading world.
AB is obviously useless as a product without a data feed. All
successful marketing offers tiered product offerings. You have your
gold customers (eSignal premium), your silver customers (eSignal
standard), and your bronze customers (IQFeed and other feeds). Your
product and your data feeds should come bundled, and tiered. This
involves successful affiliate relationships being built with
companies such as IQFeed. This is why affiliate marketers can make
so much money (off contractual commissions). It is not anyone's
responsibility to form these relationships, but as a company that is
competing against real competitors who are already thinking in these
terms, you can't afford to ignore reality. Eat, or be easten. That's
the way it is.
Product co-marketing and co-branding is not demeaning to your brand
in any way, unless of course you deliver an unsatisfactory product
through these relationships. This is where the quality and talent of
your product development team will need to rise to the occasion.
**Your application development decisions should be based on a
thorough understanding of your customer base.** 10% of your
customers will generally generate 90% of your revenue. Who are these
people? What is their churn (turnover) rate? Are you able to keep
these customers, or are they moving on to higher-end products such
as TradeStation or MetaStock?
My guess is that your customers who can afford higher-end eSignal
data are going be the same customers who are selecting higher-end
trading software as well. AB strikes me as possibly catering to a
more coding-savvy crowd who enjoys having more hands-on with the
product, and enjoys the fact the developers have made something
streamlined and straightforward that the user can modify to their
liking.
All of this is likely out of your realm because you are the
developer. You can, however, pass some of these concepts on to
management (if you are not management, that is).
I've worked with Microsoft, Qwest, and other companies developing
affiliate marketing relationships and bundling products,
strategizing customer relationship management (CRM), and crunching
huge databases while acting as a marketing data analyst for these
clients. AB's problems are simple, straghtforward, and obvious to
me, from my perspective. You have all your own customer data at your
end to help to begin resolving these issues today, if you want to.
It may be time to look at customer data, rather than looking at tick
data ;-) This is where the real gold for AB may be at right now.
Enjoy!
Brian
--- In amibroker@xxxxxxxxxxxxxxx, "Tomasz Janeczko" <amibroker@xxxx>
wrote:
> > That is the nice thing about IQFeed. You just buy the data and
that's what you pay for,
>
> Agreed 100%.
> But could you please tell me, if you are just paying for the DATA
alone, shouldn't you expect the QUALITY data ?
> I mean NO BAD TICKS, reliable API, no ZERO prices sent in OHL
fields during pre-market hours, etc ?
>
> Why everyone expects the developer of the charting application to
fix ALL DATA problems that DATA VENDOR should fix in first place?
>
> Why am I forced to implement hundreds of workarounds to make
IQFeed data usable ?
>
> Why IQFeed sells the same data 2x cheaper to QuoteTracker?
>
> Why don't they implement ANY fix to their API for over one year
from pointing out all problems ?
>
> Why should I spend enormous amount of time working on IQFeed
plugin considering the fact that it generates ZERO REVENUE for me ?
> ( I didn't receive ANY commission from IQFeed )
>
> Best regards,
> Tomasz Janeczko
> amibroker.com
> ----- Original Message -----
> From: ed
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Tuesday, April 20, 2004 2:43 PM
> Subject: Re: [amibroker] Re: IQFeed plugin version 1.5.1 released
>
>
> ok thanks for the explanation.
>
> Possibly I am switching to eSignal Premier though ... The thing
with eSignal (what I think is annoying) is that I wish they would
sell just the data for a good price. Now you get charting and all
kind of scanning stuff that we program ourselves in Amibroker and
other stuff like news you actually do not want and ofcourse this is
included in the price. That is the nice thing about IQFeed. You just
buy the data and that's what you pay for,
>
> rgds, Ed
> ----- Original Message -----
> From: global_investor
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Tuesday, April 20, 2004 2:15 PM
> Subject: [amibroker] Re: IQFeed plugin version 1.5.1 released
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Tomasz Janeczko"
<amibroker@xxxx>
> wrote:
> > Hello,
> >
> > A new version of IQFeed plugin (1.5.1) has been released to
> > http://www.amibroker.com/iqfeed.html
> >
> > Direct link: http://www.amibroker.com/bin/IQFeed1510.exe
> >
>
> now we have the old bug again. I know this experience ;-)
>
> Open & Low of last (rightmost) bar is now always 0 again, when
the
> base-interval is daily.
>
> Well, as a workaround I'll try if it's possible to install
Amibroker
> two times, each installation with a different version of the
IQFeed
> plugin.
>
> To Ed: The important thing to note here is that data with
> base-interval daily does NOT contain any bad ticks. Your QQQ
> example was a daily chart generated by compressing 1 minute
bars. Of
> course, if you compress bars with bad ticks (garbage in), you
get
> again bars with bad ticks (garbage out).
>
> But if the backfill is done with daily-bars (instead of minute
data),
> there is no spike problem and the data is wonderfully
clean. Which
> means that with IQFeed one would be able to look at clean daily
> charts, updated in realtime without any spikes, if only the
plugin
> didn't contain any logic errors.
>
> The fact that daily data doesn't have bad ticks has something
to do
> with how the IQFeed historical data architecture is working:
daily
> data is NOT generated from tick data (so it cannot include bad
ticks),
> but minute data is.
>
>
> > It implements bad data filter which is based on ATR (average
true
> range).
> > The filter is turned ON by default and uses 9-bar ATR of
High-Low range.
> > If next bar High-Low range exceeds X times ATR then this bar
data
> are filtered
> > to eliminate spikes.
> >
> > You can control both averaging (ATR) period and X (the
detection
> threshold)
> > from File->Database Settings->Configure.
> >
> > You can also TURN OFF the filter already by going to
> > File->Database Settings then clicking CONFIGURE button and
> UNCHECKING "Enable" flag in
> > "CONFIGURE" dialog.
> >
> > Please note that filter by default runs ATR(9) and if
current daily
> H-L range
> > exceeds by default 4 (four) times the ATR then it considers
this bar
> as a spike.
> >
> > This may or may not be correct for each and every symbol. (My
> experiments shows
> > that this is good choice but I was checking only Nasdaq 100
symbols).
> >
> > You may increase the threshold from default 4 to say 5.
> >
> > Anyway as I wrote many times the filtering or fixing bad
ticks
> should be done by feed
> > on tick-by-tick level (not on minute bars) since only that
way it
> can be accurate.
>
>
>
>
> > And this is what I am hoping for in API 3.0.
> >
> > Anyway I have done already more than I planned (I have
planned to
> wait for bad tick filter in IQFeed
>
> yes, filtering on the plug-in level doesn't make much sense as
you
> need all individual ticks instead of ticks in aggregated form
(=
> minute bars).
>
> Therefore instead of the ATR-filter, it would be very helpful
if the
> plug-in was simply working correctly when the base-time
interval is daily
> (see rationale above).
>
>
> Btw: Maybe Jay Froscheiser from DTN Market access is following
this
> thread. This problem with the IQFeed plugin underscores why I
> strongly argued for making IQFeed's API publically available
(without
> the $300 licencse fee).
>
> Even though I'm busy with a lot of other things I have to work
on, I
> certainly would be interested in developing an own IQFeed plug-
in for
> Amibroker which could also be released to the public. (I
would do
> the plugin development in Java, however, and TRY to do the
integration
> with Amibroker via Java's JNI interface, the latter would be
the
> hardest part.) What's more, the plug-in development could
ideally
> even be an open source project, hence allowing a peer review
of the
> sourcecode and in turn better elimination of bugs!).
>
>
> best regards,
>
> Wolfgang S.
>
>
>
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