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CJ,
I certainly understand how hard it can be to have an open mind about other
products after dedicating so many years to a platform. I also respect this
list and don't want to get embroiled in a flame war. But I feel compelled
to respond to some of your points here, only to clarify the issues.
>>Just one look at their systems for free and you will see how those greatly
over exaggerated returns are generated for their scripts:<<
The returns you mention and the mechanism used to generate the returns are
only one possible option. You're free to run any of the systems on an
individual stock, for example, instead of a portfolio, if you wish. The
point of the web site isn't to show off systems, anyway. It's meant to be a
flexible and open platform where you can test and evaluate your ideas.
But since you mention the choice of using a portfolio of 100 stocks to
generate backtest results, I feel that I have to defend this as well. Some
of the most effective systems that we've discovered do in fact trade
infrequently. There's nothing to apologize for here. It should be a well
known fact that it's better to wait for the perfect opportunity to take the
trade than to overtrade. But once again, if you don't agree with this, the
product (and web site) allow you to pursue your own ideal scenario.
>>Portfolio testing: NO way man, just dig in there and you will see a scary
collection of quirks, calculation error etc etc<<
I'm not sure what errors you're refering to, but I'd be happy to take a look
at your list if you want to email me privately.
Once again, I apologize for taking up time on the list. You won't hear from
me again unless there are more blatant accusations to defend against ;)
Dion Kurczek
Wealth-Lab, Inc.
http://www.wealth-lab.com
-----Original Message-----
From: CJ Macintosh [mailto:nidarian@xxxxxxxxx]
Sent: Tuesday, February 26, 2002 9:45 PM
To: omega-list@xxxxxxxxxx
Subject: Re: AW: Wealth Crap
I started using system writer when it first came out, and been through hell
and back with omega and I am still here trading daily with it but please
keep your advertising MR Nice guy image to yourself:
On the surface Wealth CRAP looks great,
Built in 3d charts (bid f**ing deal): use excel its much more powerful
Portfolio testing: NO way man, just dig in there and you will see a scary
collection of quirks, calculation error etc etc
Would I use it for real-time trading NOT A CHANCE - again maybe by version
10, and that's a big maybe.
Any Database features for correctly handling contracts etc - none existenant
Their website collection of scripts - frankly there is more quality stuff
posted here on omega list everyday than their entire site.
Just one look at their systems for free and you will see how those greatly
over exaggerated returns are generated for their scripts:
Again don't waste your time here is how: 99% of the systems are run on a
portfolio of 100 stocks. So the returns you see there are not based on
single symbol performance but aggregated results of 100 symbols, 5 years per
symbol. Now dig deeper you'll see the systems trade 1 to 5 times per symbol.
Now that what I call BS newbie shit. 100 symbols and 1 or 2 trades a symbol
in 5 years of data per symbol come on man these guys need a wake yup call.
There again its people like this that pay my mortgage. So keep at it wealth
crapers.
Again everything looks great - good hype - great marketing - site is cool
but that's where it end.
accomplishment in trading software design = BULLSHIT
therefore Wealth Crap is very appropriate label for now.
Sorry me and a few others on the list spent 4 weeks wasting our time
documenting bugs.
Keep working.
CJ
----- Original Message -----
From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Tuesday, February 26, 2002 12:32 PM
Subject: Re: AW: Wealth Crap
> Volker Knapp wrote:
> >I feel a bit hurt. And I dont understand your (is it "texas"?) slang, so
you
> >have to help me please.
>
> I'd like to point out here that, at least Mr. Knapp SUPPORTS his
> software, and is pro-active about seeing that users are satisfied.
> Which is more than one can say for Omega, eh? If WealthLab has bugs,
> and you bother to report them, they will be fixed. Can you make the
> same claim about TradeStation?
>
> When I looked at WealthLab, I found features in it that TS users can
> only dream about. I also found a very active forum full of users
> with interesting ideas, and a greater propensity to share ideas than
> I've seen anywhere else.
>
> However, when I selected a strategy analysis platform, I felt that
> WealthLab had too much of an 'unfinished' feel to it, and I never
> liked Pascal all that much (would have preferred a more C-like or
> EL-like syntax), so I went to TradeStation. For the same price
> (used TS versus new WealthLab) TS won out.
>
> >What is GUI?
>
> Graphical user interface.
>
> --
> ,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
> // +__> Director of Research and Development
> // \
> //___) Unicorn Research Corporation -- http://unicorn.us.com
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