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Wake UP! Lawsuits, attorneys and regulators hover around the periphery
of this industry, just waiting for the next whining, self-pitying
asshole. Everyone who ever programs up trading systems knows you NEVER
takes the software at face value, I don't care who's software you're
talking about. The reason is that in ANY system testing software,
assumptions must ALWAYS be made. Why don't you sue Omega for the fact
that their software doesn't take into account the effect your order
might have on the market when you go to trade it?
Furthermore - anyone who tests systems then plans on plunking their
money donw on actually trading the thing is simply naive if they do
not hand test the results out -- something that YOU should have done,
something you SHOULD have done on tick by tick data.
Don't blame - don't sue - dont' harrass other people becuase you
failed to do your homework.
Lastly, please do not use this newsgroup to troll for legal
troubles.....this is not used entirely by AMericans, and those of us
who are not resent your using this newsgroup for America-directed
legal nonsense.
-Ralph Vince
---Alan Savant <the_savant@xxxxxxxxxxx> wrote:
>
>
> 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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