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Subscribing data from a data vendor
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Which way do you want iCharts to go?
Buy all data from a data vendor and charge subscription fees for intraday charts (live & historical)
16%
 16%  [ 9 ]
Try to buy EOD data from a data vendor but keep intraday charts as they are currently
14%
 14%  [ 8 ]
Answer would depend on the subscription fees
20%
 20%  [ 11 ]
Just keep things as they are
48%
 48%  [ 26 ]
Total Votes : 54

Author Subscribing data from a data vendor
admin
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Joined: 10 Aug 2006
Posts: 18

Post: #1   PostPosted: Mon Oct 30, 2006 10:22 am    Post subject: Subscribing data from a data vendor Reply with quote

We have received lots of complaints regarding incorrect / unadjusted data due to stock splits / bonus issues. The process of adjusting prices is manual at the moment which we try to do every weekend but sometimes we can't. Also, we adjust prices only for NSE, BSE prices are not adjusted at the moment and this is one of the main reasons why we are receiving many complaints.

For this reason we are thinking about buying data from a data vendor who will supply us with adjusted prices (at least adjusted much faster than we can do) for both NSE & BSE. This had to be done sooner or later and we don't want to put it off further. We are also negotiating for NSE 5-min delayed intraday data for the live charts & historical intraday charts. This will make intraday charts more reliable than the current setup.

Here is the catch (there always is a catch Smile ) : we can absorb the end-of-day data cost but intraday data cost is high (for 5-min delayed, 1-min delayed is very expensive which we cannot afford at this time). We will have to start charging subscription fees for intraday charts if we buy data which is a EOD + Intraday package. We are unable to find data vendors who can just provide us EOD prices at an affordable rate.

Please let us know your suggestions by posting here and answering the POLL so we can decide on the best option. Also, please let us know of any good data providers willing to provide data for websites (most data vendors don't want to provide data to websites).

NOTE: Buying EOD data from NSE is not an option because they don't adjust their historical prices for splits & bonus.

Thanks.

Admin
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kapuganti
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Joined: 08 Sep 2006
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Post: #2   PostPosted: Mon Oct 30, 2006 5:17 pm    Post subject: poll Reply with quote

i understand the costs. no body can give things free for ever. if u have to give quality data and have to survive u should charge from us. after all it is a money game. by using ur data people r able to make money. then they should pay also.
thanks
subba rao
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jalpeshmodi
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Post: #3   PostPosted: Mon Oct 30, 2006 8:14 pm    Post subject: Re: Subscribing data from a data vendor Reply with quote

I think we should have a look at the subscription rates, if these are no very high then we can pay for it.. I request admin to give some estimated figures and duration..
As such, the charts what you already show for intraday are fairly good and very accurate intraday charts are not required. Can you not get only EOD charts from any vendors?? can you try to negotiate for only EOD as adjusted figures of NSE & BSE can be very useful...

regards,
Jalpesh
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rajib333
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Post: #4   PostPosted: Mon Oct 30, 2006 8:48 pm    Post subject: Reply with quote

To my opinion, i feel the charts in the intraday (beta) section are of good quality, so i am very much ok with them.

as per the cost concerns, i think i will be able to pay if it is not very high.


thank you,
Rajib.
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admin
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Joined: 10 Aug 2006
Posts: 18

Post: #5   PostPosted: Mon Oct 30, 2006 9:38 pm    Post subject: Reply with quote

I am glad few users took the time to post questions/comments here.

I am trying very hard since 1-2 months to get end-of-day adjusted prices for NSE & BSE. These are critical as we are unable to adjust for BSE and NSE also is lagging due to lack of resources. The main problem is that none of the data vendors is ready to provide us data, not sure why. One data provider finally sent me a quotation but the condition is that I will have to subscribe to both EOD & Intraday data and that obviously is expensive.

I will keep trying and see if I can just get a deal for NSE & BSE end-of-day adjusted prices. I have not come up with any subscription fee structure because I have not yet decided if I should take that way at this point. Let use see how the poll goes for few more days but if it ends up in uncertainity like it currently is with no clear majority then I will maintain the status quo and not do anything. Will keep trying to get reliable data.

I want to get these data problems out of the way because there is a ton of functionality in the works like trading systems, user defined stock lists, custom stock screening, market heatmaps, sector trend charts, etc. We don't want to get distracted because of data problems. All the features make sense only if data is reliable.

Anyway, I will keep posting here as the poll goes ahead...let us see...

Admin
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rvg
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Joined: 31 Oct 2006
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Post: #6   PostPosted: Tue Oct 31, 2006 12:22 am    Post subject: Reply with quote

I have no issues with the EoD data and do not need intraday data.

Maybe you can refine your data upload program to identify potential splits/bonuses i.e. where the price differential is > 40% in a day.
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tushars82
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Post: #7   PostPosted: Tue Oct 31, 2006 11:05 am    Post subject: data charges Reply with quote

Sir,
I can understand ur problem about data availability.But as far as i am concerned i don't use intraday charts at all but i use EOD charts.I will be able to pay for that only if it is affordable.
I started using this site when it was near to having 200 members and as of now ur members are very close to 800, so i think u can easily afford to keep ur subscription charges cheap distributed across ur members.
We study charts and use our own judgement to to make money so if the subscription chsrges are high it will put extra burdon on us.
Also i request u to provide stock screener ( condition builder ) if it is possible.
Regards,
Tushar.
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rajib333
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Post: #8   PostPosted: Tue Oct 31, 2006 12:08 pm    Post subject: Reply with quote

[The main problem is that none of the data vendors is ready to provide us data, not sure why. One data provider finally sent me a quotation but the condition is that I will have to subscribe to both EOD & Intraday data and that obviously is expensive.]

yes, it is very much true that u will get less response from all data vendors coz we are sharing the data in our around 800+ members.

so they will have to loss some potential clients.

i am very much ok with ur intraday charts , so please dont change them.
for EOD, is it possible to use any software for split/bonus adjustments, only my thoughts.
thank you,
Rajib.[/quote]
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2901
Location: Hyderabad, India

Post: #9   PostPosted: Tue Oct 31, 2006 12:18 pm    Post subject: Re: data charges Reply with quote

tushars82 wrote:
Sir,
I can understand ur problem about data availability.But as far as i am concerned i don't use intraday charts at all but i use EOD charts.I will be able to pay for that only if it is affordable.
I started using this site when it was near to having 200 members and as of now ur members are very close to 800, so i think u can easily afford to keep ur subscription charges cheap distributed across ur members.
We study charts and use our own judgement to to make money so if the subscription chsrges are high it will put extra burdon on us.
Also i request u to provide stock screener ( condition builder ) if it is possible.
Regards,
Tushar.


Tushar,

EOD charts (including beta charts when made regular) with all current indicators & functionality will always be FREE. We will never charge anything for EOD charting. Any discussion here about subscription fees is only for PREMIUM content like live charts, historical intraday charting, trading setups/systems (feature not yet implemented) etc.

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Srikanth Kurdukar
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SwingTrader
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Post: #10   PostPosted: Tue Oct 31, 2006 12:47 pm    Post subject: Reply with quote

rajib333 wrote:
[The main problem is that none of the data vendors is ready to provide us data, not sure why. One data provider finally sent me a quotation but the condition is that I will have to subscribe to both EOD & Intraday data and that obviously is expensive.]

yes, it is very much true that u will get less response from all data vendors coz we are sharing the data in our around 800+ members.

so they will have to loss some potential clients.

i am very much ok with ur intraday charts , so please dont change them.
for EOD, is it possible to use any software for split/bonus adjustments, only my thoughts.
thank you,
Rajib.

Yes, I think you are right about the data vendors. In a sense iCharts is their competitor so they might not be interested in giving out their data.

I think we might be able to tune up our NSE price adjustments a bit and make it more timely. But adjusting prices for BSE is just not easy because they do not provide "corporate actions" data in a fixed format like NSE does. If we decide that we are not going to buy EOD data from data vendor we might have to remove BSE charts from our website or just leave them as they are without adjusting prices which is something we don't like to do.

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murty
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Joined: 30 Oct 2006
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Post: #11   PostPosted: Wed Nov 01, 2006 11:54 am    Post subject: Reply with quote

It is true that u will get less response from data vendors as the data is bing shared with many, about 100 people??..

so they will feel that they may be loosing many prospectvie customers.

I fell the current intra day charts are ok for the time being and we can build a google adsence based revenue gentation for the system and we all will support theat in terms of giving enough click revenues etc. ( hope all memebers will agree to this ... Right?)

OVer a period of time if the addrevenues are enough and u feel sustainable, you can think of a deata vender feed.

comments please..

--Murty@B'Lore
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2901
Location: Hyderabad, India

Post: #12   PostPosted: Wed Nov 01, 2006 12:26 pm    Post subject: Reply with quote

murty wrote:
It is true that u will get less response from data vendors as the data is bing shared with many, about 100 people??..

so they will feel that they may be loosing many prospectvie customers.

I fell the current intra day charts are ok for the time being and we can build a google adsence based revenue gentation for the system and we all will support theat in terms of giving enough click revenues etc. ( hope all memebers will agree to this ... Right?)

OVer a period of time if the addrevenues are enough and u feel sustainable, you can think of a deata vender feed.

comments please..

--Murty@B'Lore


PLEASE DO NOT EVEN THINK ABOUT CLICKING GOOGLE ADS TO HELP ME. YOU WILL ONLY GET ME BANNED FROM GOOGLE ADSENSE. I URGE YOU NOT TO CLICK ANY ADS ON MY WEBSITE IF YOU AREN'T INTERESTED IN THOSE.

Don't worry about my revenue. I am looking at this from a long term point of view. I am in no hurry to generate revenue by ads or subscriptions or any other means. I can easily support the website without any revenue. Subscriptions will only help me ease the burden if I buy data from a data vendor which sooner or later I will have to do or have some alternative like hiring people to do it myself. I don't care if no vendor is ready to provide me data, I will just hire people to clean & maintain data and become a EOD & intraday data vendor myself. iCharts is now iCharts Financial Services a partnership firm with two of my friends joining to support me. We have the strength to build from here and move ahead with confidence.

If I start subscriptions in the future I assure they will be very reasonable and will be decided only after getting input from users.

My main interest is in providing top quality charting to traders/investors...everything else is secondary. I derive great satisfaction from running this website as trading/investing/technical analysis is my passion.

And BTW number of iCharts members/registered users are close to 800 (not 100) Very Happy Not to mention many more who have not registered but visit iCharts regularly. You can see current count of registered users to your left under the menu.

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vince
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Post: #13   PostPosted: Wed Nov 01, 2006 12:43 pm    Post subject: Reply with quote

All said and done, you have got to do what you have got to do. If you feel the need to charge for intra day charting all we can request is to keep it economical for all.

Eventually if you could end up like Stockcharts I am sure no one would mind paying for the services.

You could always have quarterly ,halfyearly, and annual packages to suit various needs.

Wish Icharts financial services all the best.
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rajib333
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Post: #14   PostPosted: Wed Nov 01, 2006 12:56 pm    Post subject: Reply with quote

Good luck for icharts financial services. hope a prosprous company in future,to counter all foreign data service providers,and a good online charting service providing all in one solution(stock/future/comm./forex).

buy the the way, i will be happy to buy shares of icharts . Wink

thank you,
Rajib.
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suba_stocks
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Post: #15   PostPosted: Wed Nov 01, 2006 1:07 pm    Post subject: Reply with quote

what ever this site has as of now is good,but this site need to be more precise and error free in displaying like high,low etc on charts.

as far as buying EOD data is not just a solution,you are always competitor
to others in market so,better build your own business model handling all the things,yes, it will take time and investment but instead of depending on others,building your own system slowly and steadily is good and ultimate solutions to all problems.

regarding subscriptions,many people charge alot unless small amount trading people are included you will not be able to boost your revenues.

so obviously keep as low as possible with different options,lot of people can be attracted towards your site.

on the whole your charts and site is good although it still need improvements.

THANKS
SUBA
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