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Gee, I wonder how anybody made money before Omega came along. And say aren't
you you the same guy who predicted the computer would massacre open out cry?
The computer is right next to the bond pit and guess where people are still
placing their orders. Technology is great except when it does not work on
your airplane.
-----Original Message-----
From: Robert W Cummings <robertwc@xxxxxxxxxxxxxxxxxx>
To: The Omega Man <editorial@xxxxxxxxxxxxx>
Cc: Robert W Cummings <robertwc@xxxxxxxxxxxxxxxxxx>; Omega-list@xxxxxxxxxx
<Omega-list@xxxxxxxxxx>
Date: Sunday, October 11, 1998 9:28 AM
Subject: Re: Internet and Systems (off subject)
>The Omega Man wrote:
>>
>
>>There are a couple problems with your logic. First of all, 99 out of 100
>>vendors who are selling to the public are selling things that don't work
>>NOW, much less 5 years from now. Obsolescence hasn't put them out of
>>business yet. Second problem: Current methods are already history. Want
>>to know what people ask me about? They ask about the best length for RSI.
>>Want to know when RSI was introduced? 20 years ago in Welles Wilder's
"New
>>Concepts in Technical Trading Systems" (1978). People are still using it
>>extensively. The public is so far behind the state-of-the-art they
>>wouldn't even understand the terminology.
>>
>This is my point trading is close to barbaric now in relation to other
>industries software development. Trading software is going to be in a
>revolution change in the next couple of years. The gap you speak of with
>the public ignorance is why trading software has so far to go with the
>public. A good software program written right will eliminate the need to
>know all the inter workings as one has to today. The new breed will
>understand this and only have brief descriptions on the use of indicators
>then and make it easy to adjust and change them with the click of a mouse.
>
>>>
>>Maybe. Here's another option: TS 5.0 will integrate completely and
>>seamlessly with the web. The path will be Signal/DBC to TS 5.0 to Zap
>>Futures to electronic execution system (pits will be gone) back to TS 5.0.
>>Without human intervention the whole way. Omega will be a player in this
>>game.
>
>Omega is to under capitalized to compete on the world stage.
>
>
>>Big problems for the regulators here. It will be an issue but the
>>regulators are going to lose. Three reasons: First, constitutional
issues.
>>If the Astrologer down the street is allowed to give out investment advice
>>(she is and does) then how can you stop anyone else (free speech)? Second
>>problem: all reputable vendors are now trading real money accounts with
>>their systems. Fact is, many work *if* you diversify enough and *if* you
>>trade with discipline. CFTC can't stop you from saying that your real
money
>>account is doing great. Third problem: There are going to be so many
>>people selling stuff to investors that the CFTC won't come close to being
>>able to keep up. They start harassing you, you shut down and reopen
>>elsewhere. I can incorporate a company in almost any state in a matter of
>>days.
>
>I'm an American but as a stock broker I can't write what I think to the
>public at large.
>Astroliger can but a paid investment advisor can not without first
>registering. Real money accounts advertising results is great and a result
>of the CFTC. As far as the CFTC not keeping up is true but they will catch
>many but with all crooks they will always show up else where. The old ugly
>word regulation is policing the rules and without that you can't have an
>economy and that's why Russia is hard to help get back on its feet now.
>
>
>>
>>I agree. And part of that public is system and indicator vendors. We
love
>>the 'net.
>>
> Everybody you has good motives and honest business approaches will love
>the Internet.
>
>
>Robert
>>
>>
>>
>
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