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Bilo Selhi wrote:
> well, i checked it out and here is
> my honest opinion as a trader
> ( think i represent an average full time trader out there ):
> - $299 number probably came from
> an average "at home" l2 trader pays
> for his feed and software.
> -$99 number is not too bad...
>
I would like to see them offer a 1 month ramp up period where they offer the 99
service for anyone to attract a large base of customers. I wouldn't pay 299/
month considering the other expenses.
>
> i love tradestation and always did...
> however: the major minuses are:
> as it is offered now...
> - L1 data only.... L2 data not available yet...
> - no futures...
> - tick data only for 5 days back, this is really
> no good ... omega at least give us a month worth....
> - minute data only for one month ( sounds like it )...
> no good... need at least 6 months worth...
> - daily data is ok...
> - execution is not yet available and when it is
> available it will only be for stocks...
> options under question... futures under question...
> and we don't know what the commissions are
> going to be...
> - *data correction... forgot about it?
> ( not mentioned anywhere )
Agreed, need to be able to dowload more historical tick data (3 months min).
Omega discusses data correction extensively in their website. It seems like they
are putting a lot of effort into data Q/C.
>
>
> NOW, OMEGA LISTEN UP:
> ( print this e-mail out and give it to Bill Cruz )
> PLAN 1: ( platform only and no executions, some of us have our own means of
> executing the trades but we'd be happy with "all in one + system" platform )
> if you can do this for about $200 a month:
> - L2 data
> - Options
> - Futures ( at least CME and CBOT ) others are optional
> - at least one month worth of tick data ( 3 months is better )
> - at least 6 months of 1 min data ( for futures use contract duration )
> - intraday scanning capability, say every 5 minutes if you can't do it on
> the fly
> ( take a look at insight, the standard )
> - executions are optional in this case.
>
> ***you will make tons of money without even offering executions***
> plug it into your spreadsheet...
>
> PLAN 2: ( platform and executions )
> same as above + access to order executions in equities and
> options:
> $100 a month base fee + commissions structured in the following
> manner:
> - equities: 2 cent per share with min of $5.00 ( yes 5 dollars! )
> - options: $10 per ticket + x cents per option...
> - futures: ( you guys need to get in touch with LFG or PFG
> and get hooked up to their autoexec system ) $10-15 round turn
> ( you can structure that based on how active a trader is )
> why don't you become an IB for them...
>
2 cents per share? WAY too expensive for active traders. Those commissions will
eat into a traders profits faster than oprah can eat chocolate bon-bons.
Attractive commissions would have to be competitive with the best out there,
preferably 9.99 for extremely active traders (+ 250/month) and 14.99 for less
>
> then run the adds on CNBC...
> ***if you can do that you will STEAL half of the business
> from the L2 dinosaurs and web based futures outfits...***
>
> ***you will kill most of the competition right then***
>
> don't be cheap, the commission structure above is
> good and very attractive for active and passive traders...
> it will generate considerable revenues...
> it is becoming a standard...
> they will migrate to your platform, i know i would in
> a SECOND....
If the commissions were right, and the monthly expense a LOT cheaper than 299 I
would seriously consider joining too.
>
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