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There are intrinsic problems with the concept of Omnitrader. First off,
price only indicators are highly correlated. Try plotting a few on the
same stock chart, or look at "The New Technical Trader". If the time
parameter for the different indicators are adjusted to respond at the same
time (not necessarily time parameter for each indicator)they will give the
same signal at the same time. If the time parameter is not set this way,
and I assume that they aren't, they will signal at different times: and
some may be giving up signals while others are giving down or no signal.
For these reasons I think that intrinsically Omnitrader cannot give as good
signals as using only a few indicators.
Lionel Issen
At 06:21 PM 2/2/98 -0700, Leo Karl wrote:
>Yes indeed guys, you're all speaking the truth as I see it. From my
>experience, those of you who couldn't get through to tech support were
>done a big favor! I DID get through to speak with a guy who seemed to
>have a problem, but it sure didn't relate to OmniTrader.
>
>As far as T.C's problem, I've experienced those kind of failures several
>times, and the ONLY way I have ever solved them is to un-install then
>re-install. Indeed, that's what the tech support guy had me do, I
>assume because he didn't have the slightest clue about anything else.
>Sorry about that.
>
>Having given Nirvana the thorough bad-mouthing that it deserves, I still
>think hidden underneath all that horse-shit is a Shetland pony. It
>SEEMS like any program that runs that many good indicators by so many
>stocks has got to come up with a few better hits than it does. I think,
>but can't prove, that the problem is with expecting more automation of
>an art form -- technical analysis -- than is practicable. Somehow,
>there are ways to use the program which will prove better than say,
>random selection, but I don't know what those ways are as yet.
>
>I sure hope that someone who really loves OmniTrader writes in to give
>us some guidance.
>
>Leo
>
>
>Scot Johnson wrote:
>>
>> David,
>>
>> I agree!!! I have had other "Bad" experiences with them. After a week of
>> calling their non 800 number tech support I got through. The tech support
>> person I spoke with said it is NORMAL for them NOT to be able to return
a call
>> until 3 weeks later.
>>
>> David Castley wrote:
>>
>> > I have just had a disappointing experience with Omni. I tried to
upgrade to
>> > 3.1 (v 4) on Jan 12th. and I can't get any charts up at
>> > all. I have been emailing Ed Downs repeatedly ever since and have had the
>> > continued discourtesy of being ignored. I am still waiting for a reply.
>> > It's only been 3 weeks. If anyone out there is considering getting
>> > Omnitrader then they may wish to consider the manner in which this
customer
>> > has been treated. Apart from that, I have been using the programme for
some
>> > time and, while I have found the principle to be good, the actual signals
>> > it generates are very disapponting. I would say that 90++% of its signals
>> > are not even worth looking at never mind trying to trade on them. I
>> > certainly wouldn't recommend it to anyone.
>> >
>> > ----------
>> > > From: tvk2@xxxxxxxx
>> > > To:c
>> > > Subject: OmniTrader vers 3.2
>> > > Date: 02 February 1998 15:16
>> > >
>> > > Well, my Omni program finally gave up the ghost--made that devastating
>> > > trek to the elephants' boneyard. It gave the message, "This program
has
>> > > performed an illegal operation and will be shut down." Lo and
>> > > behold--that's the first accurate prediction the sob has made in six
mos.
>> > > It flat assanine QUIT. Anyone else had this happen? Furthermore--
how
>> > > does a program do something illegal to itself? Anyway--any
suggestions?
>> > > Considering erasing the program completely and then re-install, but
>> > > thought might wait til hear how some other poor soul has handled it.
>> > > T.C.
>> > >
>> > > _____________________________________________________________________
>> > > You don't need to buy Internet access to use free Internet e-mail.
>> > > Get completely free e-mail from Juno at http://www.juno.com
>> > > Or call Juno at (800) 654-JUNO [654-5866]
>> > >
>
>
>
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