Metastock V9 vs Omnitrader

[1kyle]

I've been using Metastock since version 6. I liked version 7.xx but thought version 8 was a dog. I was using Omnitrader as well for a while and was reasonably satisfied with it -- however I missed things like System Tester and the Explorer so I persuaded myself to get the version 9 upgrade in the UK available at the very reasonable price of GBP 99 inc VAT + delivery -- total 106.00 GBP from http://www.paritech.co.uk

Anyway just comparing backtesting methods on some UK shares (TESCO, BSKYB, and British Airways -- codes TSCO, BSY, BAY) the Metastock systems yielded around 200% better than Omnitrader -- version 2003 can't say about 2004.

My first impressions are very favourable -- I don't as yet trade indices, spreads, futures or commodities but simply UK EOD FTSE 100 stocks.

I'll use both for a while until I can understand some of the more obscure parts of TA such as Point and Figure systems.

I'm still a relative newbie at this game -- but even as a beginner it helps to have decent tools and at first glance version 9 seems well worth paying the 100 quid that I might have lost on yesterdays trade anyway.

 

[zambuck]

...Ver 8 a dog made few bobs for me by the way....

system tester was avilable with ver 8, however there was a fault, but then I don't use a tester and hence did not miss it...but you did it seems...what were you using before ver 9???? for system test..???


P & F is a science in itself...and MS 9 although vastly imporoved in that field, has bit more to go yet....however it has got a pattern tester that is just a begging....someday it will be complete....

You say you are a newbie but then you have been using MS since ver 6,,,that takes you back few years indeed....so not a newbie in a real sense parhaps...???

 

[1kyle]

I've only done a relatively few trades as until recently I haven't had much time to do this in conjunction with my day job.

However as the rates and contracts on offer for I.T Contractors these days seem to be going down the toilet -- in spite of the general economy picking up -- the latest tax on dividends was just about the last straw -- I'm now taking trading up much more seriously and hope it will provide me with some sort of income stream .

I'm really not bothering anymore in travelling to the ends of the earth on a dreadful contract to work in horrible offices under lousy bosses for a measly 20 quid an hour net --- rates used to be around 600-700 quid a day with decent tax breaks as well so you can see the real downturn in the I.T sector.

Anybody reading this board -- please note the I.T industry is the only sector I've ever seen where the more experience you get the lower the wages go. Should have been a plumber.

For Backtesting I was using Omnitrader -- but the disadvantage is you have to do it on individual shares and there AFAIK doesn't seem to be any ways of playing around with the system. I like some of the customising features of Metastock where you cam devise your own strategies -- maybe that bit of the I.T stuff I used to do will help.