Our development team has finally pushed out the first beta version of OTrader version 6.

We will put this early beta out to a few of our members to test the functionality. This first release duplicates everything version 4.2.5 currently provides to you. We need to make sure everything is smooth for our users before releasing it as our official product.

If you have a current license, you will get the update as part of your yearly support fees. In addition to all the future modifications as long as you are current.

Our goal is to release small quick updates to the code. This complete rewrite will allow us to add more functions that you have been requesting. This is the code base that we will use to build a more robust platform.

Our tentative release date is 2012-FEB-15. Like all software we may slip a week or two. But the early testing is looking good.

We have tried to clean the menu up for your use. The journal and risk management features are now integrated into the main interface. As we go forward, we need to add alerts, and more reports as well as more calculations for planning your trades before you get into the trading day.

Thank you all for your patience. This has been a 16 month project and it is finally coming to fruition. Your support has allowed us to rebuild OTrader and focus more on your needs!

Happy Holidays to you and your loved ones!

The OTrader / RooTrader Team!

Sean sent an email asking; “What happened to version 4.2.6?”

We rolled back to the previous release after testing the minor change we did to the DDE update option. We are still working on pulling Google updates and some other sites for our users.

However, instead of putting man hours into writing the software for our current version, we are putting the changes into the new version that is nearing completion. We only have so many hours in the week, so, the new software is our primary focus.

Version 4.2.5 is stable and used by our users this fall. So, the changes are not needed from a stability perspective. This was only to expand capability.

Sorry Sean, I forgot to update the blog and web pages. So, nothing but coal in my stocking this year!

Here is a photo from the Occupy Movement this month:

I am hoping this was a joke. If not, then see below.

While I can appreciate someone getting a degree in a liberal arts subject, didn’t anyone make this young lady take a class in Economics? Exactly what is the worldwide market for a degree in Hispanic, Transgender, Gay and Lesbian studies? What university took this woman’s money?

The Occupy Wall Street movement has spawned clones around the world. Unemployed adults, some families, a few Hollywood stars, all sitting in, hanging out, and complaining about the current wave of Robber Baron’s ruining their futures.

Here in Vancouver, BC, it looks like a lot of energy, with no clear message, targeting the wrong people. Cities are starting to force the protestors off of the public squares where they have been camping. Who should they be targeting?

First, who sold you this degree? If you bought a car with no engine, you would attack the automaker. If you got a $96,000 education from a university, with no clear way to repay your student loans, go protest at the university! Do they not have a stake in making sure their graduates can actually use the degree they sold them? How about a few class action law suits against the Board of Regents for allowing the school to produce worthless educations?

Second, Wall Street is a business. The finance industry operates in a regulatory environment. The governments released the tight controls from the 1930’s and built the financial system that has grown over the past several decades. The laws and meetings can all be traced back to the politicians and regulatory officials who passed the new rules. These people are NOT in Wall Street. They are all in Washington DC. Get a map and go there to protest. In the US, that means you need to talk to approximately 336 people who run the government for the people.

Third, this is a non-event. The press popularizes these gatherings like a massive wave of protest. Having gone by two sites, one in Oakland, CA and one here in Vancouver, BC, I can say, it is a small minority of disaffected people. I have seen bigger gatherings at a high school hockey game. Just be glad this isn’t a global wave of hockey fans trying to make a point. There would be a lot more blood!

Fourth, this is a sad commentary on the state of higher education. If this is a “movement”, then the universities need to get these people back in the classroom and teach them political history. Then the university should explain why they can’t get a job with the worthless degree they sold them.

Finally, while unemployment is high, capitalism is nothing but a tool, based on human nature and economic theory. Man uses tools for good or evil. Do not blame the tool for how it is used or exploited.

In defense of good old fashioned capitalism, more people are fed, clothed, and housed right now, than at any point in the history of the world. While a lot of people are still struggling, the bright shining beacon of hope is not communism, socialism, or any other failed social experiment.

The beacon of hope for the world is capitalism. With a stable financial system (this is the role for the bankers), minimal taxes (you need an incentive to work), a level playing field (this is the role of government), entrepreneurs (small business), and a strong work ethic, capitalism will allow the greatest number of people to feed their families and reach their individual dreams in life.

The Tea Party movement dwarfed this lost Occupy movement. Maybe the Occupy Movement should hire some consultants to get a clear message, and then spend some money to get there message out. Oh wait a minute…

MF Global is missing $633 million from their client accounts. The company has filed for Bankruptcy protection, and is being dismantled.

Currently, investigators are trying to take the company books apart and figure out where all of the funds are at. At the same time, the staff of over 1000 workers at the brokerage are being laid off.

http://money.cnn.com/2011/11/11/news/companies/mf_global_layoffs/

You can blame a lot of failures on the economy and the difficulties that have ensued. However, this failure is purely bad management.

http://en.wikipedia.org/wiki/MF_Global

A firm originally founded in 1783, it grew over time, and then evolved into the Man Group.

Eventually, the brokerage firm was spun off and founded as a separate company in 2007 during an IPO as MF Global. With the second largest IPO in 2007.

http://www.nyse.com/press/1184840344433.html

Now, with $42 billion in assets, and equity of $1.4 billion, it is a failed enterprise.

Some highlights are:
The Wall Street Journal reported that MF Global would seek Chapter 11 bankruptcy protection after investing $6 billion in sovereign bonds issued by European countries.

On October 25, 2011 MF Global reported a $191.6 million quarterly loss as a result of trading on European government bonds.

According to the CME Group Inc., MF Global broke rules on keeping customer money separate from its own trading accounts.

The MF Global bankruptcy was the the largest Wall Street firm to collapse since the Lehman Brothers incident in September 2008.

The biggest issue in my mind is; “Who do you trust?”

This was not a home town broker who bet big and failed. This was a large to mid-size player (depending on how you measure), that bet big and failed. A stock traded on the NYSE, and audited by PriceWaterhouseCoopers. Even if the players get their money back from the assets, it will take months (years?) to clear this mess up.

How long would your funds be tied up in court?

Could you withstand the financial blow if your investments were tied up in this type of action?

Do you trade or park all of your assets with one firm?

When we thought of diversification, we rarely thought of not using a single bank, brokerage, currency or even country. Now, in any weekend, you can wake up to the folly of a CEO having lost control of his organization and your money. You can go from a secure investment program to financial ruin in a weekend.

You have to maintain control of your investments. The facade that the major players present should not be trusted. When you are looking at the long term, remember the basics, diversity and proper risk management!

Depending on the size of your net worth, you need to ensure no single entity can bring you to financial ruin. Pain, maybe, but nobody should be able to ruin your future.

Remember, they are not watching out for you! That is your job. Only you can assume the risk, and the reward of your financial life.

We are dropping the price of OTrader!

We are taking the price of OTrader from $247 to $147. At the same time, we are issuing two licenses for the same user with any purchase.

Computing environments have changed. Now, most people have several systems that they are working with. So, to respond to your requests, we are allowing all of our users to install and run OTrader on two systems at the same time.

Currently, we are working on a synchronization mechanism to allow you to share your database between both systems. This is several months away, however, we understand you need to work on your laptop and work system with the same data. This system is a priority for us right after we ship version 6. So, look for this system in early 2012.

You have written in and asked for more features, and we are working to deliver them to you. We froze all updates on version 4, and we are pushing hard to release version 6. The software is entering alpha testing later this month.

If you purchased a new copy of OTrader in 2011 at the old price, we are going to extend your maintenance agreement for an additional six months. We know you chose our team, and we want you to ensure you get full use of your purchase.

For our long term users, or users who bought in 2011, please submit a support ticket and we will issue you a second license. You must have the support agreement in place to receive the second license.

All new license renewals are now $97. We kept the price at $87 for many years. All new renewals will at $97 which entitles you to support, and all software upgrades as we push them out. This includes version 6 when it is released in early 2012.

Please keep your suggestions coming in to our team. Thank you for allowing us to help you be successful in your trading strategies!

The OTrader Team!