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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: CountofMoneyCristo who wrote (1810)7/22/2003 1:32:58 PM
From: Jon Tara  Read Replies (1) of 3143
 
"So, did Terra Nova ever pay you for the elevated trading results of your "free" software? I imagine signals went off at regular intervals? Say every 120 seconds? "

Nope. But I paid them plenty over the years for data. (I use eSignal now.)

I never put a great deal of effort into that software. I simply gave it away - told people about it here on SI, and had a web page set-up where you could download it.

Signals every 120 seconds? Do you understand what an opening gap is? Happens once a day.

Another fella wrote some similar software, which has had some moderate commercial success. It's called SortWiz. I think Townsend may sell it. Maybe you should be talking to him. Maybe he committed some crime.

Anyway, this guy did such a good job with SortWiz, that I didn't see much point in developing my software further. He did all the things that I'd meant to do (besides finding opening gaps) and did it much better.

The reason I wrote it in the first place is that, years ago, Townsend had a 500-symbol limit on their "board views". Couldn't use that to find opening gaps. So, I wrote my own software, figured-out how to reliably handle thousands of symbols (which Townsend's own software couldn't do at the time - I think it can now), and, lo and behold, I could sort all of the opening gaps to the top.

Thought it was at least good enough to give away.

But now somebody thinks that's criminal. :(
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