OmniTrader-Do you like it??? Message Board

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

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To: Joseph H. Leiti who wrote (87)	2/7/1998 5:58:00 PM
From: Bill Fischofer	Read Replies (1) of 402

Sold on OmniTrader Still learning this program but I'm already sold on it. OT's main attraction is its ability to act as a daily screen for a large population of symbols and bring promising trading candidates to one's attention in a rational (non-black-box) way. I still prefer the analytics I can get from SuperCharts but OmniTrader helps me decide which charts to look at in more detail, something SC's built in "chartscanner" function was woefully inadequate for. I now have a master list of some 600+ stocks that get screened on a daily basis. It takes just under 2 hours for the program to grind through them all (I'm sure the 32-bit version will be much faster since the program is clearly I/O bound and 16-bit I/O is the pits under Windows95) and the end result is usually less than a dozen candidates which merit further scrutiny. It is the ability to follow a large population of potential tradables in a painless manner that sets OT apart. The key to successful trading is to let the market come to you but if you're not watching you'll never know when opportunity knocks. OT is a commercial trawler compared to the rod-and-reel approach to screening I was using before. What's more, it doesn't just identify opportunities, it quantifies exactly what indicators were triggered and what the track record of those indicators on this stock has been in the past. I'm still calibrating it into my daily routine but the paper trading I've been doing with it has been very promising to date. One thing I wish OT would add to its focus list is a quick indicator of what the active signal for a stock is. It only seems to show today's signals. But I feel I have a much better view of the opportunity stream that each day presents with OT than I ever had before.

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