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>Look at a price chart of Omega ("TradeStation Technologies" : TRAD)and see
>if you think their business model was correct?
Didn't they actually make money (selling TS) once upon a time?
>If they were determined to pursue the Brokerage business, and I
>personally think this was a good idea if implemented correctly, they could
>have created a new corporate entity, and good old Omega would licensed the
>software to that entity, contract to provide technical >support, etc. The
>best of both worlds.
I've thought a similar thought. It is hard to understand why they threw out
the baby with the bath water.
BW
>From: "Samuel K. Tennis" <skTennis@xxxxxxxxxxxxxxxxxx>
>To: Omega-list@xxxxxxxxxx
>Subject: TradeStation 2000i - The Enumeration
>Date: Tue, 22 Jan 2002 16:28:18 -0600
>
>
> This is a continuation, or amplification, to a message I [sent /
>posted] on Tuesday, January 15, 2002.
>
> I have received numerous requests for a follow-up on my offer to
>enumerate the shortcomings of TradeStation 6. Below is a partial list of
>these opinions. notice that no matter how emphatically my tone may express
>them, these are merely my opinions, and as such, may be flawed. they
>definitely may be disbelieved.
>
>Comparison of Features Between 2000i and TS6:
>
>#01) 2000i Supports multiple sources of data
>
> Allows the user, not Omega, to choose who to purchase their data
>from. It also allows the professional trader to have a back-up data
>feed(s) [what we affectionately call due-diligence], hopefully redundant
>systems.
>
> This "feature" was not even an oversight. Not a "Watch this space",
>"To be implemented soon". This was a design decision!
>
>#02) 2000i Supports third party data
>
> Some types of trading, and especially system development on Futures,
>require that the trader use synthetic symbols, or continuous contracts.
>
> Many traders have purchased extensive libraries of historical data.
>
>#03) 2000i has the ability to load nearly unlimited amount of data
>
> TradeStation 4 had a 16-bit memory model and was admittedly limited in
>the about of data it could load.
>
> 2000i brought in a new age with the 32-bit memory model. Virtually
>unlimited memory! For Charts, for EasyLanguage code, etc...
>
> With TS6 you are limited to the amount of data you can load, and you
>are dependent on the Internet hops between you and their servers for the
>speed of delivery - the ability to "pump up" your system and control the
>bottle necks has been removed.
>
>#04) TS6 lacks sufficient Intraday data for system testing
>
> TS6 just does not have enough data available for development and any
>sort of reliable testing of Intraday trading systems.
>
>#05) [ChartScanner / AutoAnalyst / Analysis Commentary] - Not
>implemented in TS6
>
> One of the great leaps forward, implemented after extensive user
>surveys, was the [ChartScanner / AutoAnalyst / Analysis Commentary]
>feature. It allowed, among other things, the user to perform end of day
>scans to select viable trading opportunities for the next day. It also has
>been applied in dozens (at least) of other ways, from report generation to
>trading automation.
>
> I understand WHY it is not implemented. Imagine if one client were to
>request data for testing on 5000 symbols at 5pm. What would this do to the
>load on Omega's servers? Now imagine 100, 1000 or (heaven forbid they
>should be so lucky!) 10,000 users doing it at the same time? It could
>bring the very Internet to it's proverbial knees.
>
> But, HOW can you call this a "better", "more advanced" trading
>platform, and leave out one of the key features, implemented after
>surveying the very users you claim to be servicing?
>
>#06) Symbol Lists for Charts - Not implemented in TS6
>
> One of the great features, useful for tracking a portfolio, visually
>scanning for developing trading opportunities, and intimately tied into
>Item #05 above, was the ability to click "next symbol" and step through a
>list of stocks.
>
>#07) RadarScreen - Not implemented in TS6
>
> One of the major enhancements to 2000i was the RadarScreen that
>allowed the user to place custom studies inside a Quote Window. Granted,
>it was not the most seamless implementation. It was very memory and
>processor intensive. But it worked. And clients had developed, after
>investing countless hours and innumerable dollars, trading and scanning
>methodologies that they depend on.
>
>#08) Backward compatibility of EasyLanguage Export
>
> TS6 is totally unusable by any system developer due to the fact that
>you are unable to transfer code out which is readable by 2000i, let alone
>users of TS4 (of whom I still have many).
>
> Note: Omega had not even completed the process of winning over their
>client base to 2000i before the soured the waters even further by
>effectively abandoning the customers who shelled out big buck for the
>upgrade.
>
>#09) Total abandonment of Solution Providers
>
> With their change in market strategy / mode of operation /
>whatever-they-want-to-call-it they [Omega] have totally left the dozens or
>hundreds of Solution Providers who make all or a majority of their income
>by supporting Omega's clients out in the cold. We committed our resources,
>dedicated our livelihood to helping Omega become the premier Trading and
>System Development Platform for the industry. And they abandoned us.
>
>#10) Stock Price Chart
>
> Look at a price chart of Omega ("TradeStation Technologies" : TRAD)
>and see if you think their business model was correct? I can tell you that
>my monthly statement gives me the opposite impression! And could this have
>been avoided? Could any of us advised them that the route they chose was
>fraught with danger. I think so!
>
> If they were determined to pursue the Brokerage business, and I
>personally think this was a good idea if implemented correctly, they could
>have created a new corporate entity, and good old Omega would licensed the
>software to that entity, contract to provide technical support, etc. The
>best of both worlds.
>
>
> Note: Several of the points listed above, in a variety of
>combinations, disallow TS6 for use by most professional traders. I do not
>believe that anyone managing money can use a product that only supports one
>data feed, for Due-Diligence reasons if none other.
>
>
> It is interesting that [the majority of] my criticism of 2000i (and
>the number there is staggering) go unmentioned, being paled so by my
>dissatisfaction with TS6!
>
>
> So, what time is it? It is time for a TradeStation-Killer Application
>to come out, Omega having retired from the arena, leaving an obvious
>void. The timing is right. I keep hearing rumors. People keep making
>noises. But none has come out that impresses me. Prove me wrong, please!
>
>
> At least that is the world according to Samuel K. Tennis...
>
>
>Yours truly,
> Samuel
>
>Remember - eMail is for the benefit of the sender.
>
>
> Samuel K. Tennis Vista-Research
> 129 Staff Drive, NE voice: 1(850) 243-5105
> Ft. Walton Beach, FL 32548 fax: 1(850) 301-2884
> <SKTennis@xxxxxxxxxxxxxxxxxx> <http://www.vista-research.com>
> ***** EasyLanguage Spoken Here *****
>
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