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No, I think the Easylanguage questions you call a special number for. I use
the books or the Olist for that.
Jim Bronke
Phoenix, AZ
----- Original Message -----
From: <cash@xxxxxxxxxxx>
To: "Jim Bronke" <jvbronke@xxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Saturday, September 01, 2001 5:31 PM
Subject: Re: NeoTicker (was Re: EL to VB translator)
: So, let me get this straight. If I open up a TSPro account, can I
: call and get immediate answers to my EL questions? That alone
: may make it worth getting an account.
:
:
: From: "Jim Bronke" <jvbronke@xxxxxxxx>
: To: <cash@xxxxxxxxxxx>, "Bob Fulks" <bfulks@xxxxxxxxxxxx>
: Copies to: <omega-list@xxxxxxxxxx>
: Subject: Re: NeoTicker (was Re: EL to VB translator)
: Date sent: Sat, 1 Sep 2001 14:26:23 -0700
:
: > I have called their customer service line and gotten immediate support.
: > Remember we are talking their Trading Brokerage.
: >
: > Jim Bronke
: > Phoenix, AZ
: >
: >
: >
: > ----- Original Message -----
: > From: <cash@xxxxxxxxxxx>
: > To: "Bob Fulks" <bfulks@xxxxxxxxxxxx>
: > Cc: <omega-list@xxxxxxxxxx>
: > Sent: Saturday, September 01, 2001 4:45 PM
: > Subject: Re: NeoTicker (was Re: EL to VB translator)
: >
: >
: > : Just a few musings...
: > :
: > : > Data-on-demand would be ideal if it really worked. No one likes
: > : > having to maintain their own data but there is now no choice if you
: > : > want lots of accurate historical data for backtesting. An ideal
model
: > : > would let you collect real-time data for trading, store the data on
: > : > your machine locally, fix bad ticks as they occur, and be able to
: > : > download years of accurate historical data and store it on your
: > : > machine for system development. The ability to download intraday
data
: > : > to fill holes is essential. The present combination of
: > : > DynaStore/DynaLoader plus QFeed is close to this model and works
very
: > : > well.
: > : >
: > : I wonder about that data on demand also. If you're truly going to
: > : grab a lot of data, can they pump enough to you over the internet?
: > : And if they do, when do the ticks get cleaned up? If they're
: > : cleaned on the way out, you have a slowdown for every tick you are
: > : delivered. If they clean up later, when are those sent out? nightly
: > : maintenance? next day? Will it just be clean on their server or
: > : when it's clean will they clean what is stored on your hard drive?
: > :
: > : In order to do a lot of backtesting that doesn't take centuries,
you'll
: > : need to have the data on your hard drive, so you'll want to set it to
: > : always be going there. So, now you're saving a lot of data. What
: > : with Best Buy selling a 100GB HD for $300 and giving you a $200
: > : gift certificate, the storage space isn't really an issue. Bandwidth
: > : is the issue and the last thing you want is your quotes being slow
: > : on the open for the stocks you are trading so that you can get the
: > : data you want for the stocks that you'll be backtesting after the
: > : close. And you definitely can't backtest off their server data as
that
: > : is so slow going across the internet compared to directly from your
: > : hard drive.
: > :
: > : > Brokerage services are rapidly becoming a commodity
: > : > and commission revenue is approaching zero. Before long, we will be
: > : > placing orders directly with the ECN's. Why anyone would want to
: > : > start a brokerage business today is beyond me. Ideally, TRAD will
: > : > work with other firms to provide a direct order entry linkage into
: > : > their order entry systems as well.
: > : >
: > : I agree that it's insane to start a brokerage biz today. But I do
: > : believe that TRAD could have an advantage IF they cleaned up their
: > : software. It's a product that I have not seen offered by any other
: > : brokerage. But, their problems are many. One is obviously the
: > : software problems that have been enumerated on this list (I don't
: > : have TSPro). The other is the lack of customer service. If you take
: > : 48 hours to respond to someone's question (as they do with
: > : TS2Ki), then your clients aren't going to be trading with much
: > : frequency. Also, if you through newbies to TS a package without
: > : adequate support and training and a good batch of initial systems,
: > : then they're just going to be frustrated with it, not use it, and
: > : realize they can pay less commission somewhere else.
: > : Eventually, you are down to your hard core TS users and that's a
: > : limited market. It's particularly limited if they can use TS2Ki and
: > : trade with lower commissions elsewhere. Sincere service and
: > : support is the answer to TRAD's problems and as you say Jim,
: > : their track record does not reflect this.
: > :
: > : Regarding ECN's eliminating brokerages, I can't see that
: > : happening. Brokers are responsible for "monitoring" their
: > : customers from a legal standpoint and they have a boatload of
: > : legal issues to deal with and are very labor intensive operations.
: > : They will always be needed for that. ECN's don't want to get into
: > : that arena. What ECN's want to do is have as many orders plow
: > : through their systems as possible to generate the most $$$
: > : possible. They don't want to have to deal with the regulatory
: > : issues brokers deal with. A broker could buy an ECN, but then
: > : other brokers would shy away from directing their orders to that
: > : ECN first. The best way for an ECN to get the most biz is to
: > : remain equally available for as many as possible.
: > :
: > : One thing I haven't seen mentioned is the possibility of lawsuits
: > : against TRAD. By providing clients with sophisticated software
: > : and including systems that can tell them when to buy and sell, are
: > : they not "advising" their clients? And if so, how can they be sure
: > : that the advice that the same software generates for everyone is
: > : appropriate for each individual trader? One of the basic rules for
: > : brokers is to "know your customer" and advise him based on this
: > : knowledge. I doubt that TRAD is incorporating this knowledge into
: > : each customer's system. At some point when one or more
: > : customers blow up, TRAD could be facing some serious liability.
: > : It's already happened with some of the big boys, why would TRAD
: > : be any different?
: > :
: > : >
: > : > My thoughts.
: > : >
: > :
: > : Now you have mine FWTW.
: > :
: > : Good Trading!
: > :
: > : Cash
: > :
: > :
: > :
: > : "Buy Low, Sell High"
: > : (If this statment is used for financial gain, I am entitled to 10% of
all
: > profits. ;) )
: > :
: >
:
:
:
: "Buy Low, Sell High"
: (If this statment is used for financial gain, I am entitled to 10% of all
profits. ;) )
:
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