OmniTrader

[Dave1971]

Hi Fellow traders,
I have been out of the markets for a while, and now getting back in want to make better use of Omnitrader that I have had for a year or two. I had been trying to use it with Sharescope but the data transfer was such a pain that I ended up just doing TA through sharescope.

Does anyone know which is the best data feed to use with Omnitrader please, it would have to simple as my computer skills are pretty limited.

I am new to T2W and have so far found it very enlightening. So far I have saved $2900 as I was close to being reeled in by the sales guy pushing Vantage Point. Thanks very much !!

Regards

Dave

 

[awoodj]

Omknitrader datafeed

The easiest to use is the "easy" data that Omnitrader provide, (EOD) and it also allows updating during the day and on demand download so if you have an EOD strategy you can run through charts just before close and see if they would give signal then place order that day rather than next morning when it may gap.

Other than that if you want something cheap go for something like databull which will allow you to download free Yahoo data in Metastock format (which Omnitrader reads)

PS I think the Omnitrader EOD was around £10 per month. All that said it is only for US stocks and Mutual funds so it depends on the markets you trade.

 

[Dave1971]

Thanks,

I am looking to trade spreadbet some FTSE stocks to supplement my other trades, so databull looks like the best option.

Thanks again

Dave

 

[awoodj]

Yep i would say you are best with databull then for a low cost solution on UK stocks.

You might also want to see how much Ed Downs and his crew will charge you for an upgrade to the 2004 version as the way the signals changed mid trade in the older versions was a bit unhelpful to say the least.

 

[Dave1971]

Thanks, that is useful to know

I have e-mailed his support team for a qoute, but from what other people have posted about the support team I won't hold my breath!


Dave

 

[Rainmaker]

Where did you buy Omnitrader from? Maybe your supplier also supplies uk data. So far, I have found Omnitrader support to be dreadful.

 

[Dave1971]

I bought it through a guy called Chris Byers, can't remeber his company right now but he is the UK agent for Nirvana.

 

[bored]

Chris Byers is the UK agent, and very helpful
His website is
http://www.signaltraders.com/

 

[awoodj]

Could buy direct from US

With the exchange rate just now i would also contact Nirvana themselves quoting your customer number and see how much they would charge you. I bought Omnitrader and upgrades direct a number of times and never had any problems.

 

[pkfryer]

This is off subject a bit. But did any of you guys have difficulty installing/running omnitrader. Did any of you get an error about library/DLL??

 

[awoodj]

Nope always installed fine on my PC, Omnitrader 2002, 2003 and 2004

 

[Trader7600]

How successful do you find omnitrader 2004? Or do you just use it to filter out potential candidates and then manage the trade yourself?

 

[awoodj]

I have moved to other trading methods and no longer use Omnitrader, however when i was trading CFD's on UK stocks i found it quite useful.

 

[Rainmaker]

"Vanilla" Omnitrader is of little use, but has quite a bit of potential, depending on how you configure it. However, I found the investment in time too great (and Omnitrader support utterly useless) so do not use it at all now. Chris Byars supplies daily data for Omnitader.

 

[pkfryer]

I agree Rainmaker... I have found Omnitrader systems to be rubbish out of the box, and when I went in to explore how to tweak it I went pale and never touched it again.

Its based on the the committee approach to signals, i.e. if you have one signal its alright, if you have two its great, if you have three or four at the same time it must be a certainty. But its a false assumption and most of the time the signals Omnitrader gives for buying and selling are entirely wrong. It curve fits to past data through optimisation and we all know that curve fitting doesn't work.

Unless you are willing on spending a lot of time and energy fiddling and tweaking, Iwouldn't bother using Omnitrader (but perhaps I have been unlucky). You'd be better off spending the time developing your own system, or buy someone elses that has a proven track records such as JonnyT, mr_cassandra or dc2000.

If you've had some good experiences with Omnitrader for trading then please tell me how you did it :O)