intraday scanners & tony oz criteria

Discussion in 'Trading Software' started by dafugginman, Apr 8, 2002.

  1. looking for an intraday scanner that will scan for tony's set ups. i know realtick does it automatically, which is great, but i'd hate to pay the real tick data price if that's all i get out of it. some added flexibility would be great.

    also, a long shot i know, wondering if there is a scanner that looks for size stepping up on the bid, or down on the offer.

    leaning toward real tick. any advice or recommendations?
  2. cas


    You can do all of that easily with Neovest FirstAlert.....but it costs more than Real-Tick

  3. davealex


    I don't mean to be a wet blanket, but Tony's scans are copyrighted. This from his book "How to Take Money From Wall Street":

    "The basic formulas for the scans used in the following chapters were published in the books 'Stock Trading Wizard' and 'The Stock Trader.' Due to copyright laws we couldn't publish the formulas in this book."

    In Stock Trading Wizard, he states: "These formulas are copyrighted and may not be used without the express written authorization of Tony Oz. Vendors may not sell these formulas as a part of their service. If you are interested in using these formulas for personal use, please contact Tony Oz to get permission."

    I don't know how legal or enforceable scan formula copyrights are, but I just wanted to make everyone aware of this issue.

  4. Yeah, the ~$300 bucks a month is a little steep but you must consider what you are getting. Fairly decent charting, Very reliable data feed, Direct Access Trading and the Oz Scanners.

    Where else can you get these things at a better price? You can't!

    I guess what it comes right down to is that you get what you pay for. I believe that if you are serious about trading than you need the fastest and most reliable tools.

  5. thanks for your response. i've checked out the neovest website in the past, but it doesn't provide much detail on the type of filtering available. are you saying that you can set your own criteria for a bid stepping up, say identical bids > 3000 on the bid at a higher level twice in the last 5 minutes, or something along those lines? specialist will use the same size, and not decrement, sometimes on an institutional market order when the specialist is pushing the price to a level where he will fill the order. also, thanks everyone else for your responses as well.

    is there anything on idealink that you think would be helpful that is not on firstalert

    sorry cas, one last question. do you know the price offhand, including their own datafeed. it's not on their site either.

  6. Dave - a copyright isn't a patent. It only protects the particular form something is expressed in. He could stop someone from selling "Tony Oz Scanners" as part of their software, but can't stop stop anyone from simply using them. Doubtful he could even stop anyone from including them in a scanning tool as long as they didn't reference his name in anyway.

    If they weren't to be used by the public, the formula shouldn't have been disclosed. It's also an automatic miss on the intellectual property angle because of the failure to adequately protect the intellectual property. Your non-patented public disclosure pretty much voids any intellectual property protection.
  7. jem


    Is first alert's new product working better than the old product? I gave up on the old one because of all the false filter returns and the trouble with maintaining data on my own machine.
  8. davealex



    I'm not an attorney (thank God), but I just wanted to point it out because I had seen it in the book.

    Maybe Tony can comment when he sees this thread.


    PS. Most of the attorneys I know have told me would love to hang it up and become a trader. In fact, I am going to start another thread on that topic.
  9. Have you been eating paint chips, son?

    'wet blanket' doesn't begin to describe...
  10. davealex


    Well then, bung, feel free to post them here for everyone if you think it's such a non-issue.

    You might want to wait for Tony to chime in on the subject. He couldn't even include the scan formulas in his latest book, which was published by a different publisher than the first books. Obviously, it's the publishing house that has the copyright on the scans.

    And by the way, paint chips aren't too bad with a refreshing salsa dip.

    #10     Apr 8, 2002