beware of yahoo finance data

hi guys,

i just downloaded best charts s/w today to use as a reference but found out that it pulls data from yahoo finance which i know from previous experiences to be very unreliable.

bank of baroda if you check today - the daily price data, 52 week range, volume is all not just wrong...its completely off the mark...absurd actually!

i use viratech eod data for metastock and amibroker, but best charts uses yahoo & as i was tracking BOB, i was aware of prices and was shocked to see the difference.

new traders using yahoo free data please beware. There are links on this site for programs members have created to pull data from the NSE site itself. Use that instead.

YAHOO SHOULD BE SUED FOR THIS.

thanks.

Good Luck on that .

Yahoo provides data for Free with no conditions attached. I recently found that GetBhavcopy too provides wrong data (OI for BE stocks). Have gone to Desitradermall since Viratech is pretty expensive & uses its own codes resulting in it being useless if one wishes to migrate.

Thanks for bringing it to the notice of TJ members.

Wishing you a Happy trading and a cheerful life


Saivenkat

whts point in suing the yahoo. nobudy forcing u to get data from yahoo.
u better report this error to yahoo help desk. they might correct it in future.

Logik,

i agree that nobody is forcing you to use yahoo data but just because its free doesnt mean it has to be wrong. Traders using it will end up with wrong analysis and lose money & YAHOO SHOULD BE MADE LEGALLY LIABLE FOR THAT.

Moreover, yahoo is not a small start up site but a global company and many would trust that their data is accurate.

Yesterday the close for BOB on yahoo was 1010 when the stock had not reached that price even intraday.

The correct data for BOB was - Open - 999.75, High - 999.75, Low - 963, Close - 969.55 (1010 according to yahoo)

You can imagine what this can do to your TA.

If i have to gift you something, does it have to be a snake or a scorpion? I might as well not gift you anything at all. Thats my Logik!

Stock market data is not pornography that you can put all responsibility on the user. It involves people's hard earned money & yahoo should either shape up or stop providing any data.

thanx.

wrong data problem is every where user should chech at his end first look here
http://www.traderji.com/data-feeds/24913-best-real-time-data-provider-india-11.html

You saying Sue yahoo ha ha
You should see the fine print/ disclaimer in it and later make these kind of comment

i agree wid u...many a times...the data is skewed with erroneous volume & price movements!

Stock Market is in many ways a play field for the Big Boys. To compete, you need to have some sort of edge. Quality data can provide a Edge but in life nothing comes for Free. If you are unable to invest in quality data, I would say that chances are greater that your losses due to bad data will be greater than the savings you hope to do by using free data.

Yahoo has never said that use our data to trade. Its more of a indicative site where you can get price details. This may be right or wrong, but if you are a investor just interested in looking at the price, a Rupee 10 difference should make no big difference to your approach.

A Tata Nano is build for certain standards, if you try to compete it with a Benz and loose, its your mistake, not Tata's.

In Software parlance we call this - Garbage In - Garbage Out. You cannot hope to strike gold with Garbage.

matish,

i agree with you. Its not yahoo's fault. The fault lies with you & me. Its our chalta hai attitude that makes companies like yahoo take us for granted. I'm sure yahoo is a lot more careful in western countries, especially the US where people would have claimed damages and got tens of millions from them.

Do you know that tens of millions n damages have been awarded to people in america and other countries in the west for getting cancer from smoking?

Did the company tell them to buy their cigarettes or force them to smoke? When the difference in yahoo quotes is rs 30 - 50, they have no moral right to provide such data.

Yahoo is aware that people who use their free data are beginners who have no access to paid data which can be expensive. Also most free TA s/w on the net use yahoo finance data.

A disclaimer doesnt absolve you of any responsibility. You cant sell a car with poor quality brakes and a disclaimer can you?

Yahoo's data for western markets will be accurate for sure because they know the consequences.

As far as the " sue yahoo" that i mentioned earlier, it was just to highlight the issue and make beginners aware that yahoo data cannot be relied on for trading. There are many many mistakes in historical data. I'm surprised many took it literally.

My intention was to make sure that small beginners do not trade with yahoo data but rather use free programs that pull data directly from the NSE site. I do not like the idea of newcomers losing the little money they trade with. I have a conscience. I am not yahoo.

thanx