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OT Mailing List has moved to a new server
Use this link for more info or to subscribe.
http://www.nsx.net/scripts/lyris.pl?enter=omnitrader&text_mode=0
Some unconstructive individuals mentioned by Neal were
banned from the list. Though it became more constructive,
"traffic" is slow.
Rob.
> -----Original Message-----
> From: owner-realtraders@xxxxxxxxxxxxxx
> [mailto:owner-realtraders@xxxxxxxxxxxxxx]On Behalf Of Neal Hughes
> Sent: May 15, 1998 1:17 PM
> To: RealTraders Discussion Group
> Subject: Re: FW: OmniTrader
>
> Hi Ross,
>
> Some quick comments about Nirvana OmniTrader (should be of
> interest to potential/new users), the OmniTrader email list,
> and our OmniTrader forum.
>
> Yes, we let the OmniTrader forum fade on our own web pages,
> there was insufficient interest there. Ed Downs (CEO of
> Nirvana Systems) frequented the forum often and
> was very responsive to user requests/questions. He was
> very helpful, easy to work with, and approachable. Users
> should feel comfortable contacting him for help.
>
> Unfortunately there were not enough user-to-user messages
> to give the forum momentum.
>
> There was an email list (similar to this one), but it was
> hijacked by a few narrow-minded hate-mongers who felt that
> they were ripped off by Nirvana (OmniTrader). They habitually
> responded to any posting on that email list with a
> "OmniTrader sucks" type message and attempted to make anyone
> who asked serious OmniTrader questions appear foolish..
>
> Since that was immature and unproductive, I unsubscribed to
> that list. Sorry, I can't remember how to join, so can't
> direct you to the list.
>
> My trading style changed too, so I don't use OmniTrader
> anymore. It's a very interesting system, but will not
> be suitable to some people. Watch the expiry date of your
> money-back trial, they do not make refunds if you exceed
> that date.
>
> OmniTrader uses optimization of multiple trading systems
> (100 or so) to help you find the best mechanical systems for
> any particular chart, and to find charts where multiple
> mechanical systems (optimized) are firing trading signals
> simultaneously. You should not expect to trade these signals
> blindly, this is what causes people to feel ripped off, they
> buy the system and then find that trading the signals
> blindly does not make them rich..
>
> Those who are angry about OmniTrader often complain that
> trading signals of the mechanical systems "vanish" after
> more bars are added to the chart. I understand how this can
> be disconcerting to the naive, especially if you are
> trading those signals! However, it is the nature of
> optimizing, the system finds the best parameters for each
> mechanical system, so as new data is added, the optimized
> signals will change. Understand this, and do not use the
> software inappropriately. There are also complaints that
> the marketing material is too exaggerated. Normal for this
> industry!
>
> Aside from the above negative opinions (not mine), the software
> is interesting, helped me find good trades, and was an
> excellent scanning/ranking/filtering tool for me. It is
> very good at scanning large databases and finding good
> trade candidates. (Quick example: you can set up a scan to
> find all charts where price is bouncing off a long-term
> trend line etc.)
>
> Best wishes,
> -Neal.
>
>
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