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Dear Mr. Bill Brower , Mr. Murray A. Ruggerio Jr., Mr. BillCruz, Futures
Magazine please make a note of the following statements concerning your
recent magazine article.
I read your article on “The Bouncing Tick” problem in futures magazine.
I deciphered from the article that lesson to learn is that that trailing
stops are to not be used if someone wants face reality. If this is the
case then I wonder why you didn’t just say so, outright. Can you
honestly condone the use of the built in trailing stops for any reason?
Would you make a clear yes or no statement on this for the record? I
also wonder if you who are supposedly not under employment by Omega
Research could determine that the bouncing tick setting in TradeStation
needed to be set at 50%. Then why I wonder didn’t Omega make the
factory setting default 50% instead of 10% like it is? I would like to
quote your statement on this you made in the article. “ These
assumptions are resonable but not reprensitive of reality. If we want
to better emulate reality, we want to use a “bouncing tick” of as much
as 50% or, better yet, never test both entering and exiting a stop on
daily bars” end quote. In the above quote you state that the
assumption is reasonable, how can the assumption be reasonable if the
assumption is wrong and has caused people to loose money? You go on to
state “reasonable but not representative of reality” come on which is
it. Please quit the double talk and tell it like it is. The trailing
stops are a scam that has been used by vendors such as you and others to
falsify system results into looking better that can be replicated in
real life trading. This whole article is a cover up to explain away the
misleading software bug that has plagued many of Omegas users and even
some vendors for years. It is a shame that no one will step up and take
responsibility for this wrongdoing. No! instead you and Omega would
have the general public believe its all their fault and that we are all
some disgruntled, inexperienced users that have caused
somehow by our on doing this disaster that has fallen upon us! I say
even to you that you yourself didn’t buy the product and read the
manuals and then set out upon a perfect system building path of trading
glory, else you would not be peddling goods to the general public.
Which BTW some of your early works which I am in possesion of
use the percent trailing stops, so it is evident to me at least that you
didn’t always know of this problem yourself. The fact remains that
Omega Research has allowed the continiued use of the trailing stops by
keeping it in the software, has purposely left the default settings at a
level even your self have condemned, and has never made a public
announcement or an attempt to stop the misuse of this bug in the
software. What a disgrace that the best Omega can do is to get you and
Futures magazine and Reggiero Jr. to come running to their defense
claming operator error. I am even embarrassed for you myself.
Copies to the CFTC, NFA, Omega, Futures magazine, Ralph Stone attorney
suing Omega.
mailto:enforcement@xxxxxxxx <<<C.F.T.C.
mailto:public_affairs@xxxxxxxxxxxxxxx <<< N.F.A.
mailto:Tenbfive@xxxxxxx <<< Ralph M. Stone attorney suing Omega
mailto:OfficeOfThePresident@xxxxxxxxxxxxxxxxx <<<Bill Cruz
I would urge anyone who has been damaged by this bug in Omega's software
and feels that Omega has purposely withheld this information from the
public for its own profitable reasons to contact the proper entities
above by just clicking on the mailing link above. Also if you believe
that Omega research should be made to register as a C.T.A. so that they
may be held accountable for the misrepresentations that they continue to
allow in their software then please write the N.F.A. a letter of
concern. Most recently in a magazine advertisement Omega displayed a
system that showed system results using the trailing stops set at 10%,
this is evidence of their blatant misleading the public. Some must step
forward and make them stop taking advantage of the unassuming public.
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