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Non-Tech : OmniTrader-Do you like it???
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To: Ken Adams who wrote (144)4/20/1998 9:40:00 PM
From: Craig DeHaan  Read Replies (1) of 402
 
Ken,
Success with OT seems to run in streaks; recently pretty good, but then look at the major markets. For a year I kept trying to use it backwards; as a secondary confirmation tool rather than original prospector as its now being billed by the folks at Nirvey. I played with all combinations and permutations of trading models and juggled the 110 trading system til I concluded I was simply losing too much time needed to devote to other TA endeavors while trying to tune something that didn't want me getting that deep under the hood. But I kept coming back to it, each time with a different attack perspective and each time I think its utility might have been slightly augmented. The 32-bit drastically increased speed also made it a more plausible tool for this purpose.

I don't limit myself to following only large caps for options. I track all sorts of IBD 85/85s, BBB, etc. forcing a couple trading systems as initializing triggers that match my trading approach. EM or my variation thereof seemed to emerge as the best hit or run percentage method for many of those I followed for 5 day position trades, esp. since last January. So I've worked with it mostly in that capacity.

For some reason I've never felt confident of the longer trading model calls and have almost totally eliminated most of the system optimizations so it doesn't become too radically specialized and single issue specific. Last year far too many of my focus group stocks were regularly passed over by OT with medium term trading models when I used to rely on it exclusively to generate nightly picks. By the time I got around to checking on the 400+ charts individually it was usually too late to take a position at the proper time. This was a consequence, I guess, of never being able to tune things to my satisfaction.

Its primary value for me today is the Backtest / Forward test feature used to concentrate on picks that have responded somewhat more predictably (profitably both long and short) in the recent timeframe when other programs such as MSWIN also point me in that direction. That, as well as blazing thru lots of data faster than I could ever hope to do in other sw programs.

I'd be glad to disclose the secrets of a perfect program configuration, but you know about snowballs in hell, et.al.

Craig
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