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Hi Stan,
The Optionscope seems to work alright for single put or call positions,
but if you graph (for example) a ratio backspread with a credit at the
opening, it doesn't show the credit. I'm reluctant to trust software
that doesn't work in SOME, but not OTHER situations.
One thing you really have to watch out for with Optionscope greeks, is
your system resources..If you cut/paste to the columns, you can close
all the windows you want, and it's still going to give occassional bad
data migrating from OTHER positions that you have listed. (and
incidentally, I'm using a new pentium system with Win95 and 48meg ram,
so I don't believe it's hardware related)
In other words, go ahead and USE Optionscope, but be very careful before
committing investment captial to the results !
Dick
Stan Rubenstein wrote:
>
> Hello Dick,
> I use OptionScope for the calculations of the Greeks and not for the P/L graphs
> but on reading your note I checked one of my PUT positions and the P/L graph
> looks
> right to me. Although the graphs don't have grid lines to accurately verify
> but using eyeball approximation the P/L amounts, from the graph, were correct.
> Can you amplify on your comment re Option Scope so I can do a verification?
>
> I have used the Option Scope calculations extensively because the MS6 package
> is quick and easy and have verified the logic of the Greeks being calculated.
>
> Anyone else out there using Option Scope?
>
> Regards,
> STAN
>
> At 06:27 PM 6/28/97 -0700, you wrote:
> >Hi Dan,
> >
> >Go to www.dorseywright.com and click on the daily update (on the
> >homepage) or sign up for a free trial subscription. Then pull up any one
> >of the stock or index P&F charts, and compare to an MS6 rendering...
> >As James Cramer says, "WRONG !" <g>
> >
> >I guess it's wrong because MS doesn't distinguish between the .25, .5,
> >1, and 2 point boxes at different price levels, so when a stock goes
> >from under 5 or 10 to over 20, the base pattern is drawn wrong, so that
> >all the subsequent bullish/bearish/support/resistance lines will also be
> >wrong.
> >
> >As for trying to become an "industry standard" by licensing their file
> >formats.....well, for one thing, if you read TASC, Metastock has just
> >about NO support for 3rd party software vendors (it's mostly Trade
> >Station) and....
> >
> >Secondly, this same great strategy (of trying to force an entire
> >industry to proprietary standards) worked so well for Apple Computers
> >and IBM, hey.......why not Equis ? (geez)
> >
> >BTW, the included option scope doesn't draw P/L graphs correctly either.
> >
> >Dick
> >
> >P.S. That Technifilter Plus is the old one...Is anyone using the new one
> >yet ?
> >
> >DanMartinz@xxxxxxx wrote:
> >>
> >> Dick,
> >>
> >> << I found out too late that the point and figure charting is drawn
> >> COMPLETELY wrong (in comparison to the Dorsey-Wright-Chartcraft
> >> equivalents)>>
> >>
> >> In what way is it wrong? This is so basic, I don't know how any company can
> >> botch this.
> >>
> >> << and even the Win95 interface is botched ! You can't just bring the chart
> >> window forward by clicking on it..You have to close everything first, and on
> >> and on and on >>
> >>
> >> I'm not sure which "chart window" you mean. If you have many different and
> >> separate stock price charts, all you do is click on "Window" on the top
> >> taskbar, and choose the chart you want. If you have one chart with many
> >> inner "windows", you click on the little button in the upper right corner of
> >> the inner window, second from right, to expand the inner window to full
> >> window.
> >>
> >> << It's a resource hog and slow as molasses. >>
> >>
> >> You're right about this. Compared even to the buggy Window on Wall Street,
> >> it's incredibly slow. I have no idea why. Because they "designed it from
> >> the ground up for Windows 95", they probably cut corners to save time and get
> >> it to market. I suspect they used mostly a higher language such as C++ and
> >> probably used the operating system for many functions. This would slow even
> >> the most powerful computer system. Typically, a program would be programmed
> >> 95% higher language and 5% assembly language to speed it up (my knowledge may
> >> be outdated). WordPerfect used to be my slowest application, now MetaStock 6
> >> takes this prize.
> >>
> >> << The next MS6 version should be a FIX.....NOT AN UPGRADE ! >>
> >>
> >> You can forget that. I don't think Equis will do this. Just as if I was
> >> looking at a chart, their past history indicates this will not happen. Of
> >> course, MetaStock is still a good program and they have to stay in business
> >> also. Besides, I bought MetaStock 6 used so I can't complain. Equis has a
> >> generous title transfer policy. Cheapskate Omega Research doesn't, so I am
> >> not buying any of their add-on programs or upgrading their product, unlike
> >> Equis.
> >>
> >> << OTOH, I bought the Technifilter DOS program a month ago, and I love it.
> >> It's such a pleasure to have a FAST functional program without bugs and
> >> hassles, and I understand that the Win95 upgrade is due out this month. >>
> >>
> >> I looked at the comparison chart on the TA Stocks & Commodities. It's
> >> interesting how many features Technifilter Plus has which MS6 doesn't.
> >>
> >> http://www.traders.com/Documentation/Survey/97softwr.html
> >>
> >> With all of the smaller TA software companies, the main concern is data
> >> compatibility. It should be able to convert data into MetaStock format, not
> >> just read it.
> >>
> >> Well I have to get back to MetaStock 6. If anyone has a bug list for
> >> MetaStock 6 please send it to me. I want to be aware of any problems I might
> >> have with the program.
> >>
> >> Daniel.
> >>
> >> In a message dated 97-06-28 18:41:41 EDT, you write:
> >>
> >> << Subj: Re: Equis noncooperation with data vendors
> >> Date: 97-06-28 18:41:41 EDT
> >> From: mobldick@xxxxxxxxx (Dick Jurgens)
> >> Resent-from: metastock-list@xxxxxxxxxxxxx
> >> To: Metastock-list@xxxxxxxxxxxxx
> >>
> >> Hi Vitaly,
> >>
> >> I wish I could say this is a surprise....I tried the AIQ Market Expert
> >> that Frank so highly recommends, and liked it, but was unwilling to go
> >> to the trouble of converting all my data into the 256 issues per folder
> >> format. (Because I bought MS6 first)
> >>
> >> I see the ads in IBD literally SCREAMING the "superiority" of MS 6.0,
> >> but as an owner....I'm underwhelmed....It's buggy, and many of the
> >> canned indicators are faulty....I found out too late that the point and
> >> figure charting is drawn COMPLETELY wrong (in comparison to the
> >> Dorsey-Wright-Chartcraft equivalents) and even the Win95 interface is
> >> botched ! You can't just bring the chart window forward by clicking on
> >> it..You have to close everything first, and on and on and on.... It's a
> >> resource hog and slow as molasses.
> >>
> >> The next MS6 version should be a FIX.....NOT AN UPGRADE !
> >>
> >> OTOH, I bought the Technifilter DOS program a month ago, and I love it.
> >> It's such a pleasure to have a FAST functional program without bugs and
> >> hassles, and I understand that the Win95 upgrade is due out this month.
> >>
> >> Now that we know the direction Equis is going, this makes my choices of
> >> upgrades just that much easier.......
> >>
> >> In fact, the best thing about Metastock is this EXCELLENT group of
> >> guys/gals ! I just wish I would have known I didn't have to be a MS
> >> owner to be a member !
> >>
> >> Dick
> >> >>
> >
> >
> >
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