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Comment by dem | Hacker News Reader

We launched this tool in July and have got good feedback from traders and brokers. But I’d like the opinion of this crowd too. So what do you think?

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Great tool - nicely done. I have two questions: 1) What is your business model? Hoping for acquisition or hoping to get traders to pay you for data? 2) How lawyered up are you? You're offering financial advice and I know the SEC has some pretty delicate regulations around what you are and are not allowed to charge people for and what the limits of your liability are. Did your legal counsel offer any specific advice in this area before you launched?

They're a canadian company, do they really have to worry about the SEC?

Regardless, this isn't personalized financial advice so they wouldn't need to worry about SEC regulation even if they were in the US.

Regarding your first question, we want to offer a subscription based service both for the webapp and our API. The API access is not advertised yet, but we are planning to offer an access to our raw data in real-time to be processed by the user.

Folks are going to ask for backtests...

Yes, well aware of that and we are currently looking into it. Although, we are not pretending to predict the price movement. Rather, we are reporting on what the news is saying.

We are also working on distinguishing between a news stating a fact that occurred in the past, present or future. With that, we'll be able to present what the market thinks of the future price movements.

What's a backtest?

Backtesting is where you evaluate a model, or strategy, or system, by applying it to historical data.

I just stopped in here to ask for backtests.

Isn't this really just fundamental data with nice processing over it?

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