Omnitrader Pro 2008 or ?

[mitta]

I am looking at Omnitrader Pro 2008 with the Guppy moving averages module. Would this be a good pick for an automated trading system to begin to learn on or are there better choices in the market for their price and features than omnitrader. Would like to hear any good/bad thoughts on it. Ta


Mark

 

[rhen]

I am looking at Omnitrader Pro 2008 with the Guppy moving averages module. Would this be a good pick for an automated trading system to begin to learn on or are there better choices in the market for their price and features than omnitrader. Would like to hear any good/bad thoughts on it. Ta


Mark

Mitta,

I am not a user of Omnitrader though I did research it myself some years ago.
Some notes, remembering they're just ideas/thoughts:

OTP is a "blackbox", still though I guess it does have quite a few redeeming elements.
OTP as a learning tool may be expensive and constricting as a sole basis of same (but you did say "begin").
OTP Australia may not have all the bells and whistles of home (perhaps the reason for the reduced price).
30 day trial compared to 90 in the USA is a worry...what is that telling us?
To me, some statements as to its "uniqueness", "Automatic Buy & Sell Signals - The best available" etc appear outlandish. Yet, I'm open to be corrected.
Seldom, if ever, hear of users of OT here in Oz...are they out there?
Surprised that Guppy appears to endorse the product

Wish you good luck in your search. I'll be interested too to see what responses you get.

regards
rhen

 

[howardbandy]

Greetings --

Before you commit to Omnitrader, look at AmiBroker. The download and trial version is fully functional (does not allow changes to be saved) and free. The paid version is inexpensive and very powerful.

www.amibroker.com

Thanks,
Howard

 

[mitta]

Greetings --

Before you commit to Omnitrader, look at AmiBroker. The paid version is inexpensive and very powerful.

Thanks,
Howard

Thanks howard and rhen for your responses, I will have a look at amibroker this weekend. Mark

 

[stevo]

I used Omnitrader some years back. Although I am sure that many people find it useful I couldn't use it for trading so it fell into disuse. This scenario is probably common to many traders when it comes to software!

I much prefer Amibroker. It is very simple to put Guppy moving averages on a chart using Amibroker. It's the sort of software that a trader can use to draw some lines and flick through charts, or it can be fully automated - even placing the trades.

stevo

 

[nizar]

It's the sort of software that a trader can use to draw some lines and flick through charts, or it can be fully automated - even placing the trades.

Hi Stevo,

Do you use the autotrade feature?
If not then why not.

And do you know which brokers are compatible? I wasn't aware that you can do autotrading for ASX stocks.

 

[jersey10]

Greetings --

Before you commit to Omnitrader, look at AmiBroker. The download and trial version is fully functional (does not allow changes to be saved) and free. The paid version is inexpensive and very powerful.

www.amibroker.com

Thanks,
Howard

If you download the trial version of amibroker, what data do you get?

 

[rhen]

If you download the trial version of amibroker, what data do you get?

Good question and if you go to
http://www.amibroker.com/at/index.html

AmiBroker Auto-Trading interface for Interactive Brokers 1.1.1 Beta Read Me

July 6, 2006 19:28

THIS IS A BETA VERSION OF THE SOFTWARE. EXPECT BUGS !!!

AUTOMATIC TRADING BRINGS CERTAIN RISKS !
PLEASE TEST CAREFULLY YOUR CODE USING FIRST DEMO TWS AND THEN PAPER TRADING ACCOUNT !

AUTOMATIC TRADING INTEFACE IS INTENDED TO MAKE TRADING EASIER AND FASTER BUT IT IS NOT INTENDED TO BE RUN WITHOUT SUPERVISION.

DON'T LEAVE AUTOMATIC TRADING UNATTENDED AS CERTAIN CIRCUMSTANCES MAY OCCUR LIKE INTERNET FAILURE, SOFTWARE CRASH, ETC THAT MAY LEAD TO SERIOUS FINANCIAL LOSS.

Would guess this "works" for U.S., but for us?

regards
rhen

 

[rub92me]

Hi Stevo,

Do you use the autotrade feature?
If not then why not.

And do you know which brokers are compatible? I wasn't aware that you can do autotrading for ASX stocks.

Nizar, I've played around with the autotrade interface between Amibroker and IB for a demo account. Works fine, regardless what market you want to trade. Obviously with all autotrade solutions you want an ironclad infrastructure before you would consider letting it run by itself without supervision.

 

[bingk6]

Hi Stevo,

Do you use the autotrade feature?
If not then why not.

And do you know which brokers are compatible? I wasn't aware that you can do autotrading for ASX stocks.

The API interface provided by IB will allow a trader to issue orders to any stock or derivates that he already has access to via TWS. In other words, if he has the necessary permissions in TWS to trade any instrument, the API will offer him the same access.

I use the the autotrade feature because of the large number of orders that I need to process every day. A lot of my positions are initiated via STOP orders and a large number of these STOP orders are usually not triggered, meaning just a small number get through each day. For those that do not get through, the orders are automaticaly cancelled at close of business. It is possible that the setup may still be valid the following day, in which case the orders need to be resubmitted again. The API interface gives me the opportunity to submit and control a large number of orders/positions without the risk of typos and it forces me to trade according to my plan and the workload for me is constant irrespective of whether there are 50 positions or 5 positions.