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"Jack Higgins" <jfh37@xxxxxxxxxxxxxxxx> wrote:
> If tradelab comes out as the product promised it should give TS a
> run for the money, but only if they include the ela transfer module
> as part of the initial package. Personally, I just can not see
> people abandoning all the work in custom indicators and systems
> that they have invested in TS - no matter how ticked off they with
> Omega.
If TL lives up to its advance billing (and I hope it does!) it will
definitely take away some of TS's market. But I don't believe it
will ever be a TS-killer. I think TL is aimed at the "scientist
trader" -- basically people who approach trading the way Bob Brickey
does. (Have you followed the TradeLab list? Those guys chat about
Daubechies wavelet transforms, Hilbert matrices, digital filters, and
other esoterica as casually as most people talk about the weather!)
I think that's a fairly small niche.
TS is squarely aimed at traders with less of a mathematical and
programming orientation, e.g. discretionary traders who need good
charting support more than extensive system programming abilities,
and IMHO especially at the newbie trader (since that's where so much
of Omega's revenue comes from). That's a much larger market, and I
don't think TL will ever make a dent there.
For TL's "scientist traders," converting EL to Visual Basic or
whatever will be a relatively minor annoyance. I personally would be
delighted to convert all my thousands of lines of EL just to escape
from the many (many, many) limitations and aggravations of TS and
Omega. I've seriously considered converting everything to VB,
plugging it into QFeed, and chucking *all* 3rd-party platforms. But
that would leave me with a bit more overhead than I want right now.
> I also do not anticipate in seeing tradelab hit the market until it
> is a fully workable product - from what I have seen these guys
> learn from other peoples mistakes.
Yes. I'd be surprised if they released it before it was a solid and
very usable product. I think Bob Brickey got burned by the reaction
to the buggy demo he showed at the Snowbird "Visual Basic class," and
the VB class itself. I also think he learned it's a bad idea to pre-
announce his software before it's ready. He got some excellent
feedback as a result, but it also sucked up most of his time handling
all the questions. I think he'll be a lot more careful this time.
Gary
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