Another vendor website question

Discussion in 'Trading' started by newbie, Jan 30, 2002.

  1. newbie


    Anybody here use Ed Downs/OmniTrader? The website says they only take trades with 2/1 RR potential. What is their track record like? It's seems to be a mix between RealityTrader position room and alfatrading.

    Any inout would be helpful

    P.S. I must work for SignalWatch now too..... lol
  2. vikana

    vikana Moderator

    I found OmniTrader signals worthless: they don't hold up in walk-forward testing.

    I don't know why you would want to pay for his subscription service then.
  3. newbie


    Their track record seems to be ok on SignalWatch. Is it the same concept as the OmniTrader?
  4. Magna

    Magna Administrator

    I tried OmniTrader a couple of years ago when I was in deep, profound search for the Holy Grail (Nirvana Systems does a good job of marketing it, hell, even the name Nirvana...) Piece of garbage, useless, returned it.
  5. newbie


    Thank you both for the input. That is exactly what I'm looking for when I ask about all these websites. You just saved me money!

    I'm sure I'll have more.
  6. There is one guy (Charlie) I think, on the Yahoo Omnitrader
    message group who says he is having success with OT trading
    mutual funds. Might want to go read some of his posts on the

    Myself, I threw my copy of OT in the garbage a long time ago...
    Then again, you might be successfull trading AGAINST the
    signals OT gives...

  7. arky


    I tried OT Realtime, and I agree it is a gimmick. Forget about it, it is a waste of time. I have now tried ALL the major chatrooms and they all have disappointed me in some way. I am on my second week of the trial at Trendfund, and it just might be the best so far. I just paper traded their calls last week and I am impressed. I like their intraday alerts, typical moves of .40 to 1.00. The calls are trigger based so you can set your alarms and when they trigger you can respond with a predefined action plan. It is a matter of your expectations, requirements and comfort with the methods employed at the various resource sites that will ultimately determine your level of satisfaction. They all have their proponents and detractors.

    Good luck and good trading!

  8. newbie


    RealityTrader Position trading room? I have found these guys to be consistent if you use their position sizing rules for "units". you say you have tried them all. What did you not like about RT position trading room?
  9. arky


    I am strictly an intraday trader. I am a member of the RT Daytrading Room. I had two complaints, one that Threei's calls were difficult to read, that he has corrected as of today, the other is they trade a lot of the less liquid stocks, many of which my broker (TN-MB) does not have available to short and in this market short plays dominate the action. I have learned that the perfect room does not exist or at least I have not found it yet. I do feel the calls made by Trendfund seem to be good for .40 to 1.50. It does require some patience, which I am adapting to, but my orientation to daytrading was with Jay at Undergroundtrader, and of course he primarily calls momentum scalps. So I guess like all those those that have taken this path before me, I have come to the conclusion that there is no Holy Grail. Darn it!!!!

  10. Threei


    BRCD, PSFT, NETA, SANM, EXTR... just some of those called today, can't call them illiquid, right?... there are less liquid, too, and there are those that like them better than widely followed. Let's agree that this is matter of personal preference and we offer them for all tastes.

    (Not defending, just don't want to leave incorrect impression that we hype thin stocks)

    #10     Feb 4, 2002