Omnitrader purchase

[SOCIALWORKER]

I AM ABOUT TO BUY OMNITRADER TO HELP FIND STOCKS TO BUY/SELL. ANY SUGGESTIONS ON LEARNING HOW TO USE IT OR ANY HINTS WOULD BE GREATLY APPRECIATED
MANY THANKS
SOCIALWORKER

 

[Jazz]

Hi Social Worker

Before you go shelling out loads of dosh for Omnitrader check out Sefty's post on this BB top down approach chat/lesson 22/2/01 using http://focus.comdirect.co.uk/en/quick/uk/index.html

Also http://www.ftmarketwatch.co.uk is excellent for charting.

I have had Omnitrader for about 6 months now and only find I look at the strongest signals as there are just so many. But I have found posting Omni picks of the day on the BB & looking back to check out the results, that some long signals have disappeared & turned into short signals & vice versa. That's cheating a bit I think?
Out of 23 picks, 8 have changed signals from what they were originally.
I will be doing a 'The Story So Far' with Omni picks, just as soon as I can collar Pigsy/Sharky to show me how to upload charts/spreadsheets to BB!

I would not base my own buys on Omnis picks, but I do like the way the charts can display so many indicators on each chart at the same time and it gives you somewhere to START research. Plus dead easy to use.

Why not pop into one of the trade2win chatrooms, there are a few guys and gals who use it that would be happy to tell you all about it. Iceman, MX, PCer to name but a few, and myself of course.
Also check out other postings on the BBs by Joe & Sukhi and others.

Best wishes
J







[Edited by Jazz on 24-02-2001 at 10:58 PM]

 

[Uncle]

Welcome to T2W Social Worker, and nice to see you have the confidence to seek advice about software.

This is wise advice by Jazz.........There are plenty of sites to familiarise yourself with TA before you go splashing out a few hundred quid, in the hope it will select winners for you. All TA programmes supply you with a set of tools to aid in your selection, but as Jazz rightly says, nothing comes automatically.

Picking the "right" stock on entry is one thing, but the secret of making money is in getting out at the right time.

Here's wishing you well in your quest.

John

 

[Joe]

Hi Social Worker,

Jazz and Uncle are spot on with their advice as usual. Take particular heed of the warning about selling at the right time.

If you have limited access to the internet, check out a useful program called Invstor Ease. A new version is being released which allows more intra-day updates. You can get it on free trial for 28 days after which it costs £11.46 inc VAT. It has lots of info and can be very useful if you want to check something off line.

It's worth a look on a free basis, I still subscribe because I like it, others will disagree.

Check http://www.investorease.com for more details

Seek advice from everyone you can, only act on that which makes sense to you after you have done you own research.

Good luck with your trading
Regards
Joe

 

[Jazz]

I use Investorease (well I did until Fri when it suddenly disappeard off my PC - unsupervised small child + 101 easy peasy things to do = vanished IE!)

I like the newspaper items from each day on each share + the reports it can do.
Did one recently for companies with PEG under .75, market cap of between 10m & 50m & earnings per share growing by over 15% each a year.

I like it a lot.

Sharescope is another one. I dont have it myself, but I know people who have it swear by it.

Best wishes
J

 

[Burney]

OmniTrader

Hi Socialworker,
I have just recently purchased Omnitrader and as Jazz says it is not a panacea but it does do a lot of the hard work out of filtering down to a number of workable stocks that you can look at in more detail.I find that the short recommendations seem to be mroe accurate than the longs so it helps if you are trading US stocks or CFD's but overall I find it easy to use and helps take some of the drudgery out of identifying reasonable candidates.