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that's where i come in.
wait for my post about data scrubber.
kills bad ticks, outside trades, trades reported late.
data in nasdaq. etc. becomes clean...
just wait. i will post in a few days with gifs and
description.
it is possible to filter those out in ts2000i.
bilo.
----- Original Message -----
From: Brian <bnm03@xxxxxxx>
To: List, Omega <omega-list@xxxxxxxxxx>
Sent: Saturday, June 10, 2000 8:06 PM
Subject: RE: Omega Research Unveils TradeStation.com at OmegaWorld
> The Tradestation.com demo site talks about trade automation. In the past,
> this term has been used loosely by omega to refer to the idea of
automating
> your systems and generating signals automatically. With their new
brokerage
> division and online connection, this could mean (and I would think that it
> does) that trades could be placed automatically by your system (to their
> brokerage) automatically, without any intervention on the part of the
> trader. This is a good a idea whose time will come but right now there
are
> obstacles in the way for the stock trader that omega may or may not be
able
> to address. The main problem with automating a stock trading system that
> relies on intraday stock market data, is that the data from the stock
> market, mainly the NASDAQ, is basically crap. Closing ticks often fall
> outside the bid/ask and many times during the day, you get ticks that are
so
> bad that you can tell just by looking at the chart they're bad ticks.
Many
> more bad ticks are slightly off and you can't notice them as readily
because
> they get covered over when price moves that direction in the same bar.
Thus,
> your systems for stocks like these can't use h,l,c reliably and
tradestation
> often generates many erroneous signals. These signals would get executed
if
> you just let the system trade by itself which could play havoc with your
> account. This is less true in NYSE stocks where data tends to me
> significantly cleaner than NASDAQ markets. Traders would have to evaluate
> the suitability on a market by market basis but still data would have to
be
> monitored. Even NYSE data can be really bad. Take for example LU after
it
> missed it's earnings report a while back and gapped down 20 dollars or so.
> The data didn't get better for almost a week and then a system trader
would
> have to wait even longer so that the system was working with nothing but
> clean data.
>
> True trade automation would be much more feasible in the futures markets
> where data quality is superior to stocks. However, it seems at least for
> starters, Omega has declined to pursue that market with TS.COM. Bad ticks
> from Chicago markets are the exception rather than the rule and bad ticks
> from new york markets are so far off the current price and usually not too
> frequent that you could easily build filter for them. Data from NASDAQ
> markets are a whole different story. I would feel much more comfortable
> allowing my computer trade a system automatically in ND and SP or even
> Soybeans than in a hi tech stock like MSFT or ORCL or even QQQ.
>
> Brian.
>
>
>
>
> > -----Original Message-----
> > From: Bob Fulks [mailto:bfulks@xxxxxxxxxxxx]
> > Sent: Friday, June 09, 2000 8:45 AM
> > To: omega-list@xxxxxxxxxx
> > Subject: Omega Research Unveils TradeStation.com at OmegaWorld
> >
> >
> > ================================================================
> >
> > Headline: Omega Research Unveils TradeStation.com at OmegaWorld(R) 2000
> >
> > ================================================================
> >
> > New Web-based Platform for Active Traders Will Combine Streaming
Real-Time
> > And Historical Data, Next Generation Direct Access Order
> > Execution Technology
> > And Unmatched Strategy Testing and Automation Capabilities
> >
> > NEW YORK, June 9 /PRNewswire/ -- Omega Research Inc., (NASDAQ:OMGA),
a
> > leading provider of real-time trading tools for the online trader, today
> > previewed TradeStation.com, a unique Web-based trading platform
> > designed for
> > professional and active individual traders. This integrated
> > solution was the
> > primary goal of the pending merger between Omega Research and
> > OnlineTrading.com, which is expected to close next month. An
> > overview of this
> > next generation trading platform is available to the general public at
> > http://www.TradeStation.com.
> > This groundbreaking trading platform was demonstrated this
> > morning by Bill
> > Cruz, co-chairman of the board and co-chief executive officer of Omega
> > Research, Inc., to active traders attending OmegaWorld(R) 2000,
> > the premier
> > conference dedicated to trading strategy development for active retail
> > traders, running through June 11 at the New York Hilton and Towers.
> > "We believe that TradeStation.com will be the new standard for
active
> > traders," said Cruz. "Our new direct access order execution
technology --
> > IntelliRoute(TM) and PowerOrders(TM) -- delivers unprecedented trading
> > capabilities that previously were only available, if at all, to major
> > institutions. We believe that the combination of this proprietary order
> > execution technology with TradeStation's unmatched ability to
historically
> > test and then automate one's own trading strategies in real-time is
> > generations beyond anything available today."
> > IntelliRoute is an intelligent direct access order routing
> > technology that
> > automatically seeks the best price available at the time the
> > order is placed.
> > PowerOrders technology levels the playing field for individual traders
by
> > providing many of the same trading advantages currently available only
to
> > institutional traders, such as discretionary and non-disclosed orders.
> > The active trader market targeted by TradeStation.com is estimated
by
> > Robertson Stephens to be over 800,000 online accounts, which
> > trade so actively
> > it is estimated that they represent more than 50% of the 1.5 million
daily
> > online trades.
> > "With a database of over 100,000 registered customers who
> > have paid over
> > $125 million for our trading tools, we believe we have an
> > enormous opportunity
> > to migrate those customers, as well as attract the growing market
> > of active
> > traders, to TradeStation.com," said Cruz.
> >
> > About Omega Research, Inc.
> > Founded in 1982, Omega Research, Inc. is a leading provider of
branded
> > real-time trading tools for the active trader.
> > WindowOnWallStreet.com, the company's new online subscription
service,
> > offers traders award-winning tools including powerful analytical
charting,
> > Nasdaq Level II, time & sales, quote lists, option chains, market
leaders,
> > streaming news, Internet SmartSearch, live ticker, portfolio management,
> > Profit/Loss tracking, discussion forums, and wireless access. Window On
> > WallStreet and its Financial Data Cast Network(TM) (FDCN) were acquired
by
> > Omega Research in late October 1999 as part of the company's
> > evolving Internet
> > strategy. FDCN is widely recognized as one of the Internet's most
> > sophisticated streaming real-time quote services. For additional
> > information
> > and to register for the service with a free 10-day trial, visit
> > http://www.WindowOnWallStreet.com.
> > Later this year, Omega Research intends to launch
> > TradeStation.com, which
> > the company believes will be the Internet's first trading
> > strategy platform
> > dedicated to serving the needs of the active trader.
> > TradeStation.com will
> > combine the strategy development, back-testing and automation of
> > TradeStation
> > with the streaming real-time delivery of market information and all
other
> > features and functions incorporated in WindowOnWallStreet.com.
> > On January 20, 2000, Omega Research and
> > OnlineTradinginc.com Corp. (NASDAQ:LINE), a leading direct access online
> > broker for active traders, announced a definitive agreement to
> > merge the two
> > companies in an all-stock combination. The consummation of the merger
is
> > subject to satisfaction of certain conditions, including, but not
> > limited to,
> > approval by the shareholders of each of Omega Research and
> > OnlineTrading.com,
> > NASD regulatory requirements, and the registration of the new holding
> > company's shares with the SEC and the listing of such shares with
> > The Nasdaq
> > National Market. The strategic combination of these two
> > companies is expected
> > to create a seamlessly integrated trading platform that will, for
> > the first
> > time, deliver a complete solution to the active online trader: powerful
> > trading strategy tools, streaming real-time market quotes and
> > news, and direct
> > access to high-speed, order-routing execution services.
> > Omega Research's principal client software products currently
include
> > TradeStation(R)2000i, OptionStation(R)2000i,
> > RadarScreen(TM)2000i, and Omega
> > Research ProSuite(R)2000i. Omega Research's 2000i line of
> > software products
> > is compatible with the following real-time Internet and broadcast data
> > services: Data Broadcasting Corporation's (NASDAQ:DBCC) eSignal
> > (Internet),
> > InSite (Internet), and BMI (Broadcast);
> > Data Transmission Network (NASDAQ:DTLN) DTN Real Time and DTNstant
> > (Broadcast); and
> > Hyperfeed Technologies, Inc.'s (formerly PC Quote, Inc.) (NASDAQ:HYPR)
> > Hyperfeed(TM) (Internet and Broadcast). With the click of a
> > mouse, the 2000i
> > products can use the Internet to access the online brokerage services of
> > E*Trade (NASDAQ:EGRP) and Wall Street Access.
> >
> > This press release contains statements that are
> > forward-looking and are
> > made pursuant to the safe harbor provisions of the Private Securities
> > Litigation Reform Act of 1995. When used in this press release the words
> > "believes," "plans," "estimates," "expects," "intends," "designed,"
> > "anticipates," "may," "will," "should," "could," "upcoming,"
> > "potential" and
> > similar expressions, if and to the extent used, are intended to identify
> > forward-looking statements. All forward-looking statements are
> > based largely
> > on current expectations and beliefs concerning future events that
> > are subject
> > to substantial risks and uncertainties. Actual results may differ
> > materially
> > from the results suggested herein. Factors that may cause or contribute
to
> > such differences include, but are not limited to, the company's ability
to
> > continue to effectuate its Internet strategy and to develop and
> > successfully
> > market the products and services described in this press release (and
the
> > costs associated therewith); their acceptance in the marketplace;
> > technical
> > difficulties or errors in the products and/or services; market pressure
to
> > lower substantially or eliminate pricing on the types of Internet
> > subscription
> > services described as a result of such services being provided at
> > low or no
> > additional costs by brokerages, financial institutions and other
financial
> > companies to their customers, or for other market reasons; the company's
> > customer and active prospect base containing a substantially
> > lower number of
> > interested subscribers and/or brokerage clients than the company
> > anticipates;
> > the failure to consummate the pending merger with
> > OnlineTrading.com at all (or
> > on a timely basis) due to regulatory issues or other reasons; difficulty
> > integrating the two companies from technology, operational and marketing
> > aspects; potential NASD or other broker-dealer regulatory issues
> > arising from
> > the merger and/or the conduct of a brokerage business focused on active
> > traders; the success (and cost) of new marketing strategies as a
> > result of the
> > merger; the company's future participation in any merger or other
> > strategic
> > alliance; unfavorable critical reviews; increased competition (including
> > product and price competition); the level of market demand for real-time
> > decision support tools, real-time data and/or online brokerage
> > services and/or
> > website services generally; the scalability, performance failures and
> > reliability of the Financial Data Cast Network; the entrance of new
> > competitors into the market; timing and significance of
> > additional new product
> > and service introductions by the company and its competitors;
> > general economic
> > and market factors, including changes in securities and financial
> > markets; the
> > adequacy of working capital, cash flows and available financing
> > to fund the
> > new business model and sustain expected operating losses; and
> > other risks and
> > uncertainties indicated from time to time in the company's
> > filings with the
> > Securities and Exchange Commission including, but not limited to, Omega
> > Research's December 31, 1999 Annual Report on Form 10-K, its
registration
> > statement on Form S-4 filed April 17, 2000, as amended, as well
> > as other press
> > releases, particularly those released during and subsequent to
> > the 1999 third
> > quarter.
> >
> > SOURCE Omega Research Inc.
> > -0- 06/09/2000
> > /CONTACT: Sean Davis, Vice President of Investor and Media
> > Relations of
> > Omega Research, 972-470-4742; or Kim Shepherd or Jim Fitzpatrick, both
of
> > The Dilenschneider Group, 312-553-0700, for Omega Research/
> > /Web site: http://www.TradeStation.com
> > http://www.WindowOnWallStreet.com
> > http://www.omegaresearch.com /
> >
> > ================================================================
> >
> >
>
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