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Peter2150@xxxxxxx wrote:
> In a message dated 98-06-11 11:12:31 EDT, owen@xxxxxxxxxxxxx writes:
>
> > For the life of me, I can't figure out any way to
> > say, "If (conditions, including the gap), buy/sell today on
> > the open." Am I right in assuming this is just one more
> > way in which Omega either blew it or deliberately crippled
> > their lower-priced product? If not, could someone tell me
> > how to write this simple order?
>
> I do suspect you need the TS power editor for this.
I've never used the Quick Editor, but I would suspect this would be the case.
This isn't that simple of a problem either if you are using daily data, since you
can't get a system alert intrabar (which you need). Writing this on intraday
bars would be fairly easy though, although I'm not sure you could even do this
with the Quick Editor. The easiest way I can think of to do this would be to use
1 min. bars, with Daily on Data2, but I guess that rules SC out. If O>C[1]+{gap}
of Data2, and C>O then buy on close. There's probably a more elegant way of
doing this, but I'll leave that to the real experts on the list.
On the other hand, I don't know what you trade, but buying gaps is generally
considered to be a sucker move - of course, this depends on the size of the gap.
This is generally seen as amateur players buying at the open with no regard to
price (thus the gap), and is generally faded within the first 1/2 hour. However,
my perspective is from a short term perspective - i have no idea how these do
from the perspective of swing trading or longer. It's definitely worth checking
out though if that is your style.
Finally, I don't think it's fair to say that SC is "crippled," although I am
hesitant of defending Omega. If it weren't for this "crippled" version, your
only option would be TS. As you know, pricing of trading software has nothing to
do with marginal cost, so it's not a matter of - geez, it would be so easy to
include the PE with it - shouldn't cost around double. It of course has to do
with a product's value to traders, and even with my very limited programming
skill, I couldn't imagine TS without the PE. However, offering SC does provide
an alternative to users who may feel the extra money wouldn't be worth it to
them.
Regards,
A.J.
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