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In the interest of avoiding flames on this list, I've avoided responding to your
indirect aspersions to those of us who find problems with Omega products and
support while attempting to use the products for the intended purpose as set
forth in the documentation, not to mention the marketing materials. However, I
will not ignore your direct attack on me personally. I don't waste time this
list's time with idle or unsubstantiated complaints. I have posted specific
details regarding numerous bugs which I have encountered while attempting to use
the software. Not once have you or your friends at Omega (who allegedly monitor
this list closely) addressed the issues raised. In fact, I've been furnishing
Bill Cruz and company with detailed, reproduceable bug lists for some years and
not once has Omega found it suitable to address the bugs. Oh sure, I've gotten
phone calls from both Bill and Janette, because they'd prefer not to be subject
to public criticism, but all I've come away with is platitudes along the lines
of "we care" and "trust us". A "thank you for telling us about the problem,
we'll get it fixed" would go a long way toward me feel better about the many
hours I've lost.
The fact that I continue to use Omega's software in spite of the company's
performance and attitude is not a testament to Omega but rather a testament to
the absence of competition and the fact that I wish to continue trading. Yes,
Mr. Orphelin, I trade for a living and I don't appreciate having to waste time
on problems. When I have a viable alternative to Omega products, I will be be an
ex-Omega user.
Furhter, I contribute more to this list than criticism of Omega, including
frequent assists with EL coding. Personally, I find your constant and
unrelenting defense of Omega's poorly debugged software and inadequate
documentation offensive. I find it doubly so because you are a vendor.
>I have always been amazed that the biggest country in the world was performing
>so poor with logic and education, and so much with legal suits:
Finally, I find your attack on my country offensive. Where in hell the French
get off thinking of themselves as fit to judge the rest of the world is beyond
me. My country seems to be doing quite well thank you.
Earl Adamy
-----Original Message-----
From: Orphelin <Orphelin@xxxxxxx>
To: Omega-list@xxxxxxxxxx <Omega-list@xxxxxxxxxx>;
OfficeOfThePresident@xxxxxxxxxxxxxxxxx <OfficeOfThePresident@xxxxxxxxxxxxxxxxx>;
Mitch.Ackles@xxxxxxxxxxxxxxxxx <Mitch.Ackles@xxxxxxxxxxxxxxxxx>
Date: Tuesday, March 31, 1998 6:11 PM
Subject: WARNING:Omega bitching VIRUS strikes again
>(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
>WAS: Re : Overstating System Results in TradeStation.
>
>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).
>
>The first attitude is to think to call your lawyer when you are in doubt.
>You should not...
>
>I have always been amazed that the biggest country in the world was performing
>so poor with logic and education, and so much with legal suits:
>People that succeed to get millions from a microwave maker that has not
>stated in the user manual that you must not use it dry a living creature it
>,THIS really frightens me.
>Example are endless,and I do not want a WWW III starting from my post, but
>frankly your lawyermania is ridiculous when seen outside of USA.. And I hope
>inside too...
>
>Reading the manual
>==============
>Please see how the TS bouncing ticks feature works, what it attempts to do,
>what are the limitation, why they (Omega) did this, and do not forget that TS
>do not know how OHLC sequence is performed during a bar.
>
>See also the Help Online section
>"Understanding How TradeStation Simulates Market Activity with Historical
>Data"
>
>Quoting the Omega introduction:
>"When you apply a trading system to a chart of time-based bars based on
>historical data, TradeStation uses a set of rules to simulate "market
>activity. It is important to understand how TradeStation handles the
>simulation of market activity on time-based bars when you are "testing a
>trading system on historical data, for example 60-minute bars or daily bars,
>based on historical data (non-real-time/delayed data, "either intra-day or
>daily).
>
>I"t is equally important to understand this simulation if you use historical
>data on time-based bars when you make the trades signaled by a "trading system
>because if you trade a system on time-based bars based on historical data,
>TradeStation uses the same simulation "described in this section.
>
>And so on...
>
>Then please take note of the explanation page 31 in the TS4 user manual and
>read that "Risk trailing stops are calculated from the entry point using the
>highst high when long, lowest low when short".
>Try after to figure out why the results are so good if you do not change the
>bouncing tick setting.
>I'm sure that the bouncing tick feature is the most misunderstood TradeStation
>feature.
>
>Reading other sources:
>================
>TS Express explains this in details in the 01/02 1995 issue, and proposes an
>alternate trailing stop method.
>The complete collection is available now as a book from Ruggiero Press and
>Bill Brower (1000mileman@xxxxxxxxxxxxx).
>
>Avoiding new ridiculous situations:
>=========================
>1) Same kind of *appearing false* backtesting exists with P&Fig bars with stop
>or limit orders.
>Unless you have not understood that a P&Fig chart is build AFTER a reversal,
>you are able to buy bottoms and sell tops.
>This is not a bug, and it can be fixed using the boxsize and reversal values
>to set the correct stop orders.
>
>2) TskitDLL functions allow to read database bars in advance:
>You may build with this an all time winning system that will perfectly work
>with any kind of historical data.
>I remember that I have posted such crooked system 2 years ago on this list, as
>an example on how to fool naive people, and was more efficient that the
>example provided weeks ago by the sheriff and attibuted to Alon Shadmi (was
>true, in fact ?)
>
>Know what you do, do what you know, and things will go better, with the
>exception of your lawyer bank account.
>
>
><<
> March 30, 1998
> Experienced users of TradeStation know it has a serious flaw that has been
> known by some traders for a long time, in the way the built-in stop features
> are applied when trailing stops are run too tightly, or when the built in
> "%trailing stop" is set too tight in a historic backtest. Backtest results
> end up being dramatically overstated relative to real time results. If those
> backtest results are relied upon, people will lose money, and that's the
> bottom line.
>Michael Paauwe
>mpaauwe@xxxxxxxxxx
> >>
>
>Thats really the *bottom line*, so I stop here.
>
>Useless to say that I do not change my mind about you , Michael...
>
>Sincerely,
>
>Pierre Orphelin
>www.sirtrade.com
>Sirtrade97 neurofuzzy logic for TS
>
>PS:
>Sorry for the Market Profile trial version on my web that is not working
>anymore (was time protected until 010198).
>I'll upoad a new version soon.
>I have been too busy these times to update the web and participate to the
>list.
>
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