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Hi Group
Since some that Mark Browns comments to Neal Weintraub were worth
posting here and implied that Omega was running a boiler room scam, I wrote
Neal Weintraub a letter commenting. Thought I'd post it here.
Pete
Neal
I am writing because I saw a post of Mark's refering to Omega's boiler
room marketing. In turns of cleaning up the industry from scam artists, yes
there are a bunch, but I have a hard time fitting Omega into that category. I
use Tradestation 3.5 and have been very happy with it. I have 4.0 in the
closet, but haven't yet bothered with the update. The only thing I can see at
all and I know its what Mark is upset about, is that one of there big selling
points is the *system* features, which sort of imply one can automate trading.
I'd like to comment on this, but if there is something else they are doing I'd
be curious what it is.
Yes they sell system's ability, and yes Mark is right there are
problems from a perfectionist view point. But whoever uses a tool, be it a
hammer, computer, software, whatever, must must must understand his tools. I
have worked a lot with large scientific computers, complex oil field
processing software, and PC's since their inception. My experience leads me
to several truths as related to Tradestation or any other program.
1. Any Easy Language program writen potentially contains bugs.
2. Easy Language and Tradestation contain bugs, because all software does.
I repeat - all software probably contains bugs.
3. Hardware can cause error's. Aside from the hoopla about the famous Intel
Pentium bugs, I have actually seen math error's occur and get worse as
hardware
degenerates.
4. Data can be bad.
All of these are problems the trader using any software, and hardware
needs to be aware of so he needs to monitor his system, and make sure signals
make sense. This is the price of having these tools.
I know Mark would say Omega is aware of these bugs and has ignored them.
Well maybe, but I worked more a major Oil Field Service company, which wrote
all its own software. Many times serious bugs were found, but it just wasn't
economical to find and fix them, and they didn't. Be no doubt that Omega and
any other company, faces those same decisions. It would do us no good to have
Omega or any company make the decision to try and stamp out all bugs and the
cost of product development, and have them go out of business. There is a
real world reality. Yes there are problems with Tradestation, but I can't
buy anything else as good for the money, soo..
Neal I'd be curious about your thoughts on this. Meanwhile there
are plenty of solution providers, who really are scam artists sucking in the
traders. Go get those guys.
Pete
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