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100% agree with you there.
I am not suggesting it for intraday trading i.e. tick trading etc.
I am just documenting the facts.
(anyone who can afford a 50K plus account to trade futures can afford
the data to match and they all do - to a man and woman).
For my own opinion I think it has some uses:
- I know an EOD trader who screens during the day, using YahooCurrent
delayed, to get a short list of stocks for his use at the close so
for traders who want to do that (in the US) non-delayed is actually
an improvement.
- new traders who are nervous about intraday data could use YahooRT
as a cheap primer (very easy to use if Tomasz did something to make
it available via AQ with more frequent refreshes)
- assuming Yahoo RT is reasonably accurate then the minimum snapshot
(2secs) does not introduce significant errors into, say 15 min OHLC
bars
- it could be used for an estimate of spreads (bid/ask is hard to
come by data) used for this purpose IMO it would be a close
approximation to the real world.
- since it comprises the underlying data for 'normal' Yahoo data then
it would make a great 'training' database for people who want to
compare intraday movements to EOD OHLC.
- daily files can be saved as ASCII or Metastock format to build up a
static historical intraday database (they have their uses).
- anyone who is not used to intraday data can take a trial, or a
cheap one month subscription, and use that to try some of AB's
intraday feaures/ASCII importation of tick data etc before taking the
plunge with AB Pro and paid RT subscriptions.
As always, very few traders will start from scratch and become
consistently successful in the first two years so why pay out good
money for data they actually have no hope of using in anger (might as
well make all of our early mistakes on free/cheap data).
Not entirely a lame duck?
Anyway, as we have pointed out before.
The only data that counts is the data at our brokers - everything
that comes before that is an approximation.
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "Rakesh Sahgal" <rakeshsahgal@xxx>
wrote:
>
> Brian
>
> I have done these exercises too in the past. The only conclusion I
could
> draw from this was that for a futures trader putting real dollars
on the
> line in a intra day trading environment a RT data service is a MUST
HAVE
> (caps for added emphasis). These Yahoo Finance based workarounds
are just
> that workarounds, with a very high probability they will fail at a
critical
> juncture when you need them the most.
>
>
> Rakesh
> On Sat, Mar 29, 2008 at 6:11 AM, brian_z111 <brian_z111@xxx> wrote:
>
> > Re: Yahoo RT data (referring to the major US markets only).
> >
> > I received the following comments, on the subject, from AB
support:
> >
> > Yahoo so called "real time" is the same as ordinary Yahoo quotes,
> > with one difference: there is no 15 minute delay.
> > These are just snapshot (current) quotes, so any data collected
> > represent situation "at the time of request".
> > No backfill, no true historical interval bars (except of course
> > daily) etc.
> > AmiQuote as it is now, fully allows to get the current quote
in "real
> > time" (i.e. almost no delay) using "Yahoo Current".
> > To do so you need to do two steps:
> >
> > 1. login on Yahoo Finance site using Internet explorer.
> > 2. In AmiQuote, go to Tools->Settings and check "Allow cookies"
box.
> >
> > Thanks to support for their answer.
> >
> > FTR.
> >
> > I did some checking of my own using RTQDownloader from
> > http://www.trading-tools.com/ (uncrippled trial version).
> >
> > - Yahoo advertise MarketTracker RT as tick charts
> > - in Yahoo RT I can view charts down to 1 hour charts with 1
minute
> > OHLC bars
> > - in the MT status bar Yahoo report what appears to be tick
direction
> > for the last 6 ticks i.e. up, down or equal (I'm not certain about
> > this as they don't have a true help manual).
> > - Yahoo does say that it is the same data, 'normally' available
> > except that is not delayed. As far as I can tell it is directly
from
> > the exchanges (presumably Yahoo take it as tick data but what
happens
> > to it after that is unknown)
> >
> > Using RTQDownloader I achieved the following (for Dow
consituents):
> >
> > - downloaded price, vol, bid/ask in ASCII (text files) with 2 sec
> > snapshots (one file per symbol)
> > - downloaded price,bid/ask,vol in Metastock format and imported
> > it 'live' into AmiBoker using the AB Metastock Plugin (configured
to
> > auto refresh) - on refresh the plugin appeared to pull in
the 'back
> > history' from the Metastock directory (every bar every time?) - 4
sec
> > snapshots.
> > - data was timestamped HHMMSS
> >
> > The bid/ask was in the H,L fields.
> >
> > I am not commenting on the suitability of the data for trading or
the
> > quality - the same applies to RTQDownloader.
> >
> > I only did a quick test and didn't cross check it against RT data
> > from other sources - I just wanted to find out what the limit was
to
> > their data (I didn't prove if tick data is on their server - only
> > that it appears to be there timestamped in seconds).
> >
> > I am unlikely to do any more with this issue.
> >
> > brian_z
> >
> >
> >
> > ------------------------------------
> >
> > Please note that this group is for discussion between users only.
> >
> > To get support from AmiBroker please send an e-mail directly to
> > SUPPORT {at} amibroker.com
> >
> > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
> > http://www.amibroker.com/devlog/
> >
> > For other support material please check also:
> > http://www.amibroker.com/support.html
> > Yahoo! Groups Links
> >
> >
> >
> >
>
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