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Looks to me like MB got right when he accused Futures magazine of using
a canned response from Omega to the trailing stop scam. His answer in
defense of Omega is almost word for word the very same answer that MB
got in a response from Futures magazine. Read below, I think the point
that the disgruntled parties are trying to point out is that there are
no excuses. There should be no excuses available for Omega because these
trailing stops can not be trusted by anyone for anything. Omega is the
only software package that has these silly things and they have
defrauded the general public by allowing them to stay in the program.
You admit here in your letter that one of the vendors that you support
offered a solution for the problem. Why would a solution or alternative
be necessary if it was of no harm as you claim? I suspect that Omega has
had to come up with some sort of excuse since MB has campaigned with the
NFA and the CFTC to force Omega to eliminate or at least fully disclose
the dangers and the farce of these built in settings.
Alan
WAS:
Introduction
========
This is sad to see that such an intelligent and capable contributor like
Michael Paauwe could to be caught in such beginner trap:
Obviously the current (usual) Omega List state of mind, Mark Brown
(sorry...) bitching web site that calls for lawsuits for the same stupid
problem, and others like Earl Adamy, preaching from their high mountain
of 30 years of professional programming or the usual new verbose
contributors that break my nerves...
Guys, you do not know how to read an user manual, help online and use
your brain when the answer is not so obvious to you. The brain is a tool
located just below your hair. I does not come as a standard with the
TradeStation software and is Y2k compliant without any patch (I hope for
you).
Sincerely,
Pierre Orphelin
ATI list,
Below is the full response I gave to Mark Brown via private
e-mail. As he attached it near the bottom of his message,
many of you may not have seen it.
> There are many issues of system testing that beginners
> either overlook or fail to grasp, and the simplicity
> popular software programs promise doesn't help the matter.
>
> But while this is a mistake some may make, it will be
> because they failed to read their manual, particularly
> the section that begins on page 353 for the bouncing tick
> and the pages 346 - 350 regarding trailing stops. These
> sections do not make these problems as clear as they
> probably should (especially that regarding the stops,
> which admittedly does require the reader to put two and
> two together), but they are there for users to read.
The above was not a "canned response that Omega told" me.
I just looked up the pages myself this morning.
> The bigger problem, of course, is when system developers
> use these features to fool a public that does not own TS
> and certainly hasn't read the TS manual.
>
> Nevertheless, it would not be unreasonable to anticipate
> an anecdotal look at these problems in a future article.
> People often don't read manuals as thoroughly as they
> should, and this is something magazine editors need to be
> aware of.
>
> If you have any comments, feel free to e-mail or call me.
>
> Sincerely,
> James T. Holter
> (312) 977-0999
We are aware of these system-testing issues with Omega
Research software. If the editorial staff decides that these
issues are ones that TS users are not likely to straighten
out on their own by reading the manual, we will put
together an article pointing out the disasterous pitfalls
you may encounter if you're not aware of these problems.
As I mentioned above, it would not be unreasonable to expect
such an article in Futures in the near future.
Anyone who wishes to comment on the need for further
treatment in either Futures or Omega Research Magazine should
indeed e-mail me at jholter@xxxxxxxxxxxxxxx Arguments laced
with childish outbursts and name calling will be disregarded
as bunk.
Sincerely,
James T. Holter
Mark Brown wrote:
******
James please visit http://www.markbrown.com/bash.htm
You are helping to mislead the public by publishing that
Omega systems magazine. You publishers are going to get
in trouble with all the claims of fortunes you continually run.
The industry needs honesty and I know you need advertising
dollars but you are a whore to the crooks like Bill Cruz. I am
not the only one who feels this way. You should read the things
that others say about the two magazines on the Omega-List.
I would be ashamed if I were you guys. It is not a matter of
simply reading the manuals as you suggest. That is a canned
response that Omega told you and you are just being a good
puppet and repeating it. We will find out when the law suite is
won wont we? I will predict that you rags will either clean up
your act or be driven out of business..Its your choice! The
internet is helping spread the word that all your misleading
the public. So you will run out of new suckers soon.. Mark
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