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Im not trying to contradict what BS wants just pointing out that
different people have very different needs. I am a full time at home trader
since 1995 and I doubt that L2 traders are typical. For me I would rather
go back to a real job before I would stare at an L2 screen all day. So L2
is irrelevant to me.
Also high volume commissions rates are irrelevant to me. High volume
trading benefits the broker not the trader; I would wear myself out placing
numerious trades every day.
As to tick data I want a year min; there are indicators that can only be
computed from ticks. If you dont have the ticks you cant compute them. I
want 10 years of minute data and all the daily that exists. Using a sat
feed this is what I collect on every equity symbol in GS. So 3 months of
tick data and/or 6 months of minute data is useless and I would never
consider TsPro if thats all there is.
Integrated trade execution is of zero interest to me. I make maybe a trade
a week. Sometimes 3-4 trades a week. Sometimes no trades in a month.
Depends on what mkt is doing and how much shooting woodworking camping
hiking etc Im doing.. I serioulsy doubt Omega could compete with say CyberX
in terms of quality so thats another reason integration seems dubious.
As to trade commissions they must be cheap or I stay where I am. I use
Waterhouse at 12. CyberX is where I would go if they would take stop
orders; I think their fee was 15 last time I looked. I exit every trade on
a stop held by Waterhouse. I enter some trades on stops, but if Im home I
enter at market.
I quit my normal job to reduce stress and enjoy life. I refuse to carry a
high fixed cost in the 300 per/mo range for data/software. That would annoy
me tremendously if I want to take 3 months off from trading. I can live
with the $129 per mo for DTN sat data and, since I have paid for Ts2k, that
would be my total monthly investment expense. By the way taking time off
doesnt necessarily mean you stop making money. Place your trades; put in
stops as soon as you are filled and take off and forget the market. Does
wonders for your head and sometimes I make more money not watching the trade
so close.
Scanning. Also useless to me. This only applies to full time screen
watchers and/or folks to trade the current hot item. I pick symbols with
fundamental research then trade them technically.
I agree futures and options should be avail. Also all indices and market
stats, breadth, new highs, put call etc in separate symbols. All of these
are necessary to understand the market even though I only trade stocks.
My reservation about TsPro is Omega's history. They have consistently
failed to provide solid quality basic features and instead have focused on
silly splashy junk that I guess attracts newbies. I am not willing to be
trapped by Omega's proprietary software and data. There is no basis to
trust the software to work correctly or to trust the data to be complete
accurate and reliable.
I cant even try TsPro for 10 days because if you cancel you are barred from
re-entry at the 99 price which is the absolute max I would ever pay. So I
have to wait a year to see what happens. Maybe Pro will turn out to be good.
I hope so since I am a speculator in Omega stock.
What I do hope for is that Omega will spin off the legacy standalone
products to some entreprenurial group inside or outside the company who will
start a new company and fix the problems with Ts2k and make it live up to
its potential.
Regards
Bill Wood
-----Original Message-----
From: Bilo Selhi [mailto:citadel@xxxxxxxxxxxx]
Sent: Wednesday, December 06, 2000 10:00 PM
To: Omega List
Subject: Tradestation.com, OMEGA LISTEN UP.
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...
snip
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