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I have owned OmniTrader since it's inception. I is not a black box.
Nirvana (the company that puts out the product) calls it a "Prospecting
Tool". I use it with data from three sources, Pinnacle end-of-day futures
data, FastTrack mutual fund data, and Reuters stock data (pulled down with
Metastock's Downloader), all in the Metastock format. The basic theory is
that each market, stock, commodity, etc. has it's own personality. The
system tests your data against the systems in the software (about 120, but
some are the same system, one daily and one weekly) and gives you "voted"
buys and sells based on the best test results. You can turn on systems or
or turn off systems so they won't "vote". You can change system parameters.
You can let it optimize or turn off optimization. It also automatically
draws trendlines, support and resistance lines, highlights candlestick
patterns, etc. You can run the software just like it is of there's a ton of
thinks you can change. The latest version, OmniTrader 2002 which just came
out, now allows you to also draw your own trendlines, with price alerts if
you like. It also had stop alerts. You can keep a watchlist of markets you
want to keep an eye on. There is a real time version and it works the same
with any length of data. One of my favorite parts of the program is the
portfolio. Every night I can look in the portfolio and see allo my gains or
losses with a quick glance.
I have no financial interest in OmniTrader. I have met Ed Downs, the
President and CEO of Nirvana several times and would doubt if there is a
more upstanding person in the business.
OmniTrader is like most other pieces of software in that, if you know how to
use it, you can make money.
http://www.nirv.com/
Dave
----- Original Message -----
From: "Henry Abelman" <henry@xxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Monday, November 26, 2001 11:42 PM
Subject: RE: Omnitrader
> It has gotten much better. I just got the latest version. It is pretty
> slick!
> It is not based on optimization. It uses multiple indicators and now
allows
> you to
> pick and choose which ones you want to use and gives you many options on
how
> you want
> to select the voting procedure.
>
> I use it with TC2000 data. It knows the database and automatically gets
the
> data.
>
> I think it is much better than it was and it is worth while investment.
>
> Henry
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of BL
> Sent: November 26, 2001 10:01 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Omnitrader
>
>
> I tried it until I discovered it was based on optimization. When I
returned
> it for a refund during the trial period, they held onto my money for about
a
> month before crediting my account after they received it.
>
>
> ----- Original Message -----
> From: "Gerald Novak" <gnovak@xxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Monday, November 26, 2001 8:09 PM
> Subject: RE: Omnitrader
>
>
> > I purchased OmniTrader at the same time I purchased Metastock.
> > The setup process, in my opinion, was not very professionally done.
> > The program itself suffered from the same - not intuitive, no "polish"
and
> > just not very useful.
> >
> > Stick to exploring with MS...save your $$
> >
> > -----Original Message-----
> > From: owner-metastock@xxxxxxxxxxxxx
> > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Nick Channon
> > Sent: Monday, November 26, 2001 7:28 AM
> > To: metastock@xxxxxxxxxxxxx
> > Subject: Re: Omnitrader
> >
> >
> > I once had an awful time trying to use OmniTrader with imported data.
> > Suggest you don't bother trying same.
> > Cheers
> > Nick
> > ----- Original Message -----
> > From: "Hiten J Shah" <hiten_shah@xxxxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: Sunday, November 25, 2001 9:07 PM
> > Subject: Omnitrader
> >
> >
> > > I was wondering whether anyone uses OmniTrader, and if so, how you are
> > > finding it.
> > >
> > > Thanks,
> > >
> > > Hiten
> > >
> > >
> >
> >
>
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