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The answer to the question has to be "Yes" and presumably the majority on
this list are doing that - although by the number of posts by some of the
individuals they must have very little time to do so!
Obviously, many on the list are new or newish and are users of Omega
products. The serious position players seem to use TS, because of all the
bells and whistles needed if you are going to trade, lagging the market. On
the other hand, if you day trade in a massive, liquid market (like the
T-Bonds) and are watching and reacting to the cutting edge, and have learned
how to read the market, you do not need such indicators and systems and can,
therefore, do very nicely with SC.
Obviously, with all the furore over the Y2K patch from Omega, it is a great
deal cheaper to have SC (if you have to discard it because you can't use it
after 2000) than if you have TS. Naturally the new versions of both will
be compliant or the company would be out of business.
Meanwhile the List has to suffer this continual barrage of abuse against
Omega (whether the company deserves it or not - we have to waste time and
money downloading the vitriol, before wasting further time pressing the
delet key on the names you know to be a complete further waste of time
reading, if you don't!).
The pathetic thing is that they are wasting good energy and productive time
on a matter that is worth so little, if you are making money in the market.
But that does mean trading and not chattering.
If trading is a part-time hobby, clearly you are likely to be a postion
trader and feel you have to have TS or something else, if and when there is
something on the market. If you are trading every day as a day trader, SC
is fine. Just buy it. Make money. And, as with your trading, tomorrow is
another day. When you do have to buy the next version (which, because you
do not need vast amounts of data ahead of time for - as an example - complex
option strategies or spreads on forward months) you can run up much closer
to the year 2000 before making the decision.
So, the answer to the question is Yes and the majority of silent members of
the List probably do make their living out of trading. Just ignore all the
shouters and empty barrels - and don't let them put you off. Think hard
about whether you want to position trade or day trade and which one your are
more likely to succeed at and that will sort out whether you are a TS or SC
person. Most of the this List is one or the other, despite all the shouts
and screams.
Obviously, I recommend you look closely at the T-Bonds - it puts bread on
the table and sometimes even some jam!
Bill Eykyn
From: Jim Cox <cayenne@xxxxxxxxxxxxxxxxx>
To: Tom Bobst <tom-bobst@xxxxxxxxxxx>; omega-list@xxxxxxxxxxxxxx
<omega-list@xxxxxxxxxxxxxx>
Date: Friday, October 23, 1998 7:24 am
Subject: Re: Can You Make a Living at This?
>Yes...you can make a living at this. "Can" is the operative word. There are
>no guarantees.
>
> And...you need TradeStation. If you are serious. Y2K and Mark Brown
>notwithstanding.
>
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