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Greetings --
I have a little experience with IRL and a set of about 10 Greg Morris indicators which were published about a year ago.
One of the features of the the Investors Reference Library (IRL) is that it works with files in MetaStock format, allowing you to create indicies or sectors composed of any individual stocks you choose. In combining the stocks, they can be weighted according to several different schemes -- equal weighting, capitalization, etc. IRL offers a quarterly CD with historical data which keeps the background up to date and supplies capitalization weights. The CD also has a series of predefined sectors which you can use as is or modify as you wish. After a few false starts (some caused by my misunderstandings), I found the system works well and feel it is good value.
The 10 volume diskettes from Greg Morris come in language flavors for MetaStock and TradeStation. For the most part, they implement various indicators and systems which have appeared in Technical Analysis of Stocks and Commodities over the past 10 years or so. I have the TradeStation versions. Every time I begin working with a new tradable item, I work my way through all (most, anyway) of these to see if anything else works. I usually find nothing very helpful. I would not recommend purchase of these materials.
About OmniTrader. I regularly write articles and reviews related to trading and software. A few years ago one of the major journals wanted a review of OmniTrader and I got a review copy of the program. I found its primary feature was the ability to search through a set of parameters for an extensive set of trading systems to find out what worked best over the learning period. When those systems were traded forward, they were invariably not profitable. I talked extensively with senior staff at Nirvana who generally agreed with my assessment. They said they were in the process of improving that and would get a new copy to me when it was ready. The journal and I agreed to postpone the review. We're still waiting. Until there is some indication that the over-optimization problem has been solved, I recommend skipping OmniTrader.
Thanks,
Howard Bandy
-----Original Message-----
From: RXR [SMTP:oiis@xxxxxxxxxx]
Sent: Tuesday, January 27, 1998 4:10 AM
To: metastock-list@xxxxxxxxxxxxx
Subject: IRL & Pring CDs
Not sure who Bob is, but I would like any information anyone has on
experiences with the IRL CD and the Pring Advanced CD, or others, and the
Indicator CD as mentioned below.
Also any thing on the Murphy-Morris systems & indicators disks. Do these
tend to be indicators written as systems or are they more complex?
Gave up on Omnitrader. I should listen more often.
>Having monitored this list for a little over a month now, I haven't
>noted any references to the IRL "Investor's Reference Library" CD. One
>of the deficiencies of MetaStock is its limited approach to handling
>group and sector analysis. The IRL looks like it helps shore up that
>void. Along that same line, I'm also interested in any input that is
>available about Martin Pring's Companion CD's, primarily the Market
>CD-ROM Companion, followed by the Super CD-ROM Companion and finally
>bringing up the rear, the Indicator CD_ROM Companion.
>
>Later,
> Bob
RXR
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