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right, exactly what i think. to sum it up, you have to see the difference
between the two markets that all traders are involved in - the real markets
/ exchanges and the secondary markets (your brokers commission, your data,
info, books, advice, software, magazines etc etc).
the real market and the secondary markets have several things in common and
several completely opposing factors. The common ground is (1) they're both
public and (2) you can make or lose money in both, (3) etc etc.
But opposing factors are what leads to all the hostility.
(1) in the real markets / exchanges, you put your money down on a financial
instrument that is well defined contractually by an exchange - in the 2ary
market, you have to rely on marketing and word of mouth
(2) in the real markets, the reason why you do a trade is based on your own
considered judgement, but in the 2ary mkt, your purchase is often based on
the representations of other people who sometimes lie or dont come clean
(3) in the real markets, if you were wrong, you can't realistically blame
the rest of the world, but in the 2ary mkt there's often one person or
company who was the other side of the trade and they can easily be blamed
for deceiving you.
Since traders have a built-in reaction-response mentality honed for the real
markets, they expect the 2ary market to be the same and are grossly taken
aback when the 'trade' didn't work out like it should in the real market,
i.e. you see a product out there and expect to get exactly what it says on
the box.
When sellers in this 2ary market come along and don't advertise their
products in a way that will let traders know exactly what they're getting,
in other words, they do a good sales and marketing job on it, that's taken
as a lack of integrity.
Would you trade in TBonds if you didn't know exactly what the futures
contract was? Just think of all the flaming that would go on if CBOT acted
like Omega.
Adam
-----Original Message-----
From: Young Trader <youngtrader@xxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, September 10, 1999 12:53 PM
Subject: My take on Omega
>I am new to this list... and I sense such hostility towards Omega. I have
>been using their 2000i product since it came out, and albeit it had some
>problems, but the latest build I have is very reliable. I am using a
>Pentium II 350 with 256 MB RAM, Windows NT SP-4 and eSignal as my feed. I
>get all my quotes on time, my charts update as they should, and the
>RadarScreen is great. I think what is going on is the lack of useful
>educational tools published by Omega. I've dedicated a lot of time
>researching the product, reading through help files, FAQ's, Knowledge Base
>documents, and have tweaked my system as best I can. I've read the Charlie
>Wright book about Trading Stocks, and the Michael T. Burke book on Options,
>to better understand what kinds of things are going on in the market today.
>Very useful tools. My point is this - Omega provides good tools for
>analyzing the stock market. Their 2000i product is just very demanding,
and
>not supported with good reference manuals/educational materials. If you
>know how to trade - and know how to take advantage of what Omega (among
>other companies out there) have to offer, then you can potentially be
>successful in the long term. Remember, Omega, Signal, FutureSource... you
>fill in the blank... will not make you money. The burden falls upon you to
>do your research and make intelligent trades. And their tools can help -
if
>you know how to use them. I for one am happy. I am learning EasyLanguage
>using the Omega book for EL and through writing to the EL department via
>e-mail. Things are going well. I don't see Omega as my business partner
or
>as my best friend - they provide me with tools I use. And I for one am
glad
>they are around.
>
>- young trader -
>
>>From: ribau@xxxxxxxxxxxxx
>>To: omega-list@xxxxxxxxxx
>>Subject: Re: 2000i and data feeds
>>Date: Thu, 09 Sep 1999 21:23:49 -0700
>>
>>
>> >>Only usual Omega bashing.
>>
>>All Omega has to do is produce the software they so brazenly
>>promote. As it stands, the asses deserve to be driven out of
>>business...the software can't be used reliably for real time trading
>>on any platform, that's obvious to anyone without a vested interest.
>>If you only wish to play with your newly neurofuzzy balls after the
>>markets close, then that's another matter...and should probably be
>>kept private.
>>
>
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