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Hello,
I recently had a chance to review and see a demo of the proposed Day
Trader Pro by Window of Wall Street, Inc. In a press notice, they state
that their software will have a conversion package to accept EL code and
convert (or run it) on their software similar to TradeStation.
In general, the product is well designed, without several of the KNOWN
limitations of TS, and seems to move to a equal or higher quality
product than the proposed TS 5 due sometime this year. While they did
not mentioned a dongle, I believe that they do not use the security type
code features that Omega Research requires of its software.
It seems that the Window of Wallstreet EOD product has done very well in
the general market place and at the general retail market level. I can
easily find the WOW products at the local computer store, but Omega only
sells its software via the telephone or mail.
In general, I believe that Omega has been caught napping while a major
product is being released with equal or better software support. This
seems like this could be similar to the spread sheet wars where Visicalc
had a huge lead over the rest of the market place. But alone came a
start up company, Lotus, that was building software for that "new" IBM
type computer systems and ignoring the Apple II machines. In the long
run, Lotus bought Visicalc and eliminated them from the marketplace.
I believe that the reality of a investor or trader is that he/she wants
a product that will generate income for them. And as long as the
product continues to do that, it will be hard to get them to switch.
But if a newer product comes along, that is easiler to learn and use,
and removes many of the previous problems of the first product, then the
World will beat a pathway to their door.
Recent developments of the close ties with E-Trade, the lawsuit, the
major delay of TS 5, and the general lack of support from the company
gives me an uneasy feeling that Omega Research is another potential
Visicalc. At the least the markets think so with their stock dropping
in price from 12 at the IPO to the recent 2 1/2 to 3 dollar trading
range.
Good luck and good trading,
R Tareilo
PS: I have no interest in either WOW or Omega, since all of my friends
have sold their IPO stock for losses since October.
PSS: I hope Omega responds to our concerns or WOW releases their new
Day Trader Pro soon, I am having too many problems "do work arounds"
using the TS 4 release 19 build.
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