OmniTrader-Do you like it??? Message Board

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Non-Tech : OmniTrader-Do you like it???

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To: Francois Liaudat who wrote ()	7/16/1996 11:08:00 AM
From: David	of 402

I have been using OmniTrader for the past 9 mo. (ver 2.1-2.5). The result is up about 32% in the market for the year to date. The software trades independently of your own actual trades. This I find the greatest weakness because if the signals are disregarded at any point, the user is out of sync with the software. For example, if a sell is disregarded, no additional sell signals are produced until the software takes a new position, leaving the user with a position but no software assistance. I have suggested to Nirvana that the user be able to override the advisor signals. The way to use this software is to be very careful about creating the trading model in the profile (especially stops) and test parameters (controls what indicators are used). Do a lot of testing before buying shares. The pivot point stoips are especially valuable, which mimic those recommended by J Hurst in his book The Profit Magic of Transaction Timing (old but useful). You will need to compromise in order to generate enough buy signals in order to get into the market with a strong bull momentum.. If you are a long term investor, the software is of little help. I supplement the software by creating a buy list from the MPT Review (about 450) and Growth Stock Winners (50 stocks from Jim Collins.). The primary strength of OmniTrader, over a product like MetaStock, is that it takes a lot less time to use in the evening. About an hour is required after downloading data due the batch processing of the entire stock list. A list of 50 will generate plenty of signals to keep you fully invested. This time saving is important if you work full time and have a family. Any other users of OmniTrader need to share profile and test setting experiences. To the user concerned about the cost: Your profit increases should easily cover the costs. If you use a cvomputer, not using tech analysis is missing one of the best opportunities for profits.

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