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"1) no one really trusts their software signals to trade them "blindly""
Dude, what are you sniffing? You say "no one" yet 14 people say they trade
mechanically. That's precious. I think your conclusion is a bit off here.
To me all this says is that a fewer percentage of people can really program
a mechanical system that consistently makes money. Obviously there are
people out there trading mechanically. How many traders are programmers (or
hire them at $60-$120/hr) and how many traders trust their programming AND
trading skills enough to put their system on Auto mode? Not nearly as many
as do because this is a harder goal to achieve. Also there may have been
some misunderstanding about a system vs a methodology. A mechanical system
by definition should not consider human judgement. A methodology on the
other hand accepts human judgement and is not applied without questioning
the signals. A system is programmed and metholody is not. A methodology
would be something like selling retracements to tops or buying higher
bottoms in the morning. A system would be this method programmed without
any human judgement. What is human judgement? All the factors a human can
judge I can code. Period. In fact, I challenge anybody to name 1 thing
that can't be programmed. Maybe I'll learn something. I haven't run across
anything that can't be programmed ** if ** you have the right knowledge and
data and that's really the issue for the off floor trader (ie working around
crap data, bugs in tradestation, learning VB or C++, stupid execution rules
and limitations, etc.)
"> 2) being an Omega solution provider or trading systems consultant can
lead
> to bankruptcy.....there is simply little or no business out there."
This is good too. Why don't you ask Doug Demming about their "bankruptcy"
and lack of business problems over the past 6-7 years or so. Or maybe Mark
Jurik would like to comisserate with you about his "bankrputcy" problems.
NOT! This says more about the individual writing the response than anything.
You're off a bit here too.
> -----Original Message-----
> From: M. Simms [mailto:prosys@xxxxxxxxxxxxxxxx]
> Sent: Wednesday, March 01, 2000 6:40 AM
> To: Lawrence Chan; OmegaList
> Subject: RE: SURVEY RESULT
>
>
> Nice job.....this confirms my suspicion that....
>
> 1) no one really trusts their software signals to trade them "blindly"
>
> 2) being an Omega solution provider or trading systems consultant can lead
> to bankruptcy.....there is simply little or no business out there.
>
>
> > -----Original Message-----
> > From: Lawrence Chan [mailto:stnahc@xxxxxxxxx]
> > Sent: Wednesday, March 01, 2000 9:07 AM
> > To: OmegaList
> > Subject: SURVEY RESULT
> >
> >
> >
> > thanks to all those who replied to my little survey on this list.
> > some replies I received did not answer all questions, so some
> > questions count do not add up to the total. For questions
> > that can have multiple answers, the sum can be added up larger
> > than the total.
> >
> > I simply use Excel to sum up the answers ... then verified the
> > answer one by one.
> >
> > for those who asked me questions privately,
> > I will answer them - just that ... it is in backlog :)
> >
> > -Lawrence Chan
> >
> > --- RESULT FOLLOWS ---
> >
> > TOTAL 72
> >
> > A. Type
> > 1 - 41
> > 2 - 8
> > 3 - 21
> > 4 - 2
> >
> > B. Time horizon
> > 1 - 24
> > 2 - 36
> > 3 - 11
> > 4 - 1
> >
> > C. Method
> > 1 - 14
> > 2 - 37
> > 3 - 21
> > 4 - 0
> >
> > D. Source of Income
> > 1 - 48
> > 2 - 1
> > 3 - 1
> > 4 - 22
> >
> > E. Tool
> > 1 - 36
> > 2 - 30
> > 3 - 5 (Excel, NeuroShell Trader, OminiTrader, UMDS, TW, TC2000, etc.)
> >
> >
> > ORIGINAL QUESTIONS
> >
> > A. Type
> >
> > 1. index/index future/currency/bond
> > 2. commodities
> > 3. stock
> > 4. learner/system reseller only
> >
> > B. Time horizon
> >
> > 1. intraday-only (day trader)
> > 2. intraday to swing of a few days
> > 3. a week or more
> > 4. a month or more
> >
> > C. Method
> >
> > 1. pure mechanical (no human intervention)
> > 2. mechanical filter + judgement call
> > 3. chart formation / total discretion / guts only
> > 4. fundamental
> >
> > D. Source of Income
> >
> > 1. Trading
> > 2. Trade consultant/advice
> > 3. System reseller/programming
> > 4. Other
> >
> > E. Tool
> >
> > 1. Omega products pre 2K version
> > 2. Omega products 2K version
> > 3. Others - please specify
> >
> >
> >
> >
> >
> >
> >
> >
>
>
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