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Hi Anthony –
A few years ago, I was actively writing
articles and reviewing programs for technical analysis journals. I was
asked to review OmniTrader by a publication whose name I have forgotten.
I spent weeks working with it.
As you may know, OmniTrader is crammed
with indicators. One of its features was an optimization during which it
calculated the optimum value for all indicators. For one thing, the speed
of the optimization worried me a bit – it completed far too quickly to
have done a thorough testing. For another, there was no out-of-sample
period, and no walk-forward capability. In order to test the
profitability of signals, I had to add one day of data at a time and rerun the
analysis. A third problem was that signals would appear, and then
disappear one or more days later. <font size=2 color=navy
face=Arial>I found
most signals to be unprofitable and concluded that it was over-fitting the
models to the data.
I talked with the principals at OmniTrader
about my findings, and was told that I should not be thinking of OmniTrader as
a trading system, even though it clearly issues buy and sell signals. I
didn’t get a very good explanation of what they thought it was.
The review I wrote and submitted to the
publication was not very favorable to OmniTrader – it was never
published.
A quick check this morning shows two Yahoo
groups for OmniTrader, each with about 100 members. The messages posted to
one of the groups were mostly spam for porn sites. The other was mostly about
OmniTrader, but the postings were not very helpful or insightful.
Howard
-----Original Message-----
From: aadicker698
[mailto:aadicker698@xxxxxxxxx]
Sent: Saturday, December 06, 2003
7:44 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker]
OmniTrader?????
<font size=2
face="Courier New">I had purchased OmniTrader
two days ago, and am awaiting it's <font size=2
face="Courier New">
arrival. Then, yesterday, I ran across the
Amibroker site and loved
what I read. Has anyone ever used
OmniTrader? Would it be worth my
time to learn it, or should I focus on learning
Amibroker? All
honest and frank suggestions/opinions would be
greatly appreciated!
Anthony
<font size=2
color="#003399" face="Times New Roman">Send
BUG REPORTS to <span
>bugs@xxxxxxxxxxxxx<font size=2
face="Courier New">
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
Post AmiQuote-related messages ONLY to: <font
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href="">http://groups.yahoo.com/group/amiquote/messages/)
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Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
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Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx
(Web page: http://groups.yahoo.com/group/amiquote/messages/)
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Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
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