Hi:; This is not a spam. I just want to know if anyone has experience with Ocean Indicators. My friend told me it is quite involved and complicated. I saw the website is advertising some new indicators that are very expensive (Ocean Plus) but they don't even have screen shots. Please tell me your opinion if you have used Jim Sloman's Ocean indicators. Thanks.
I swear to God I have yet to see a poster with more than 100 posts ever ask about some sort of trading product. LOL Always somewhere between 1 and 25 or so. That Sloman dude is a psycho. The indicators probably come with a nice tall glass of Kool-Aid too.
Jim Sloman is the creator of "The Adam Theory of Markets" and "The Delta Phenomenon" . Both ideas were bought and published by the famous US trader Welles Wilder 1987 and 1991... You find the books in www.abebooks.com etc. Ocean is a further development of the origin "Adam Theory"-ideas. Sloman has described the basics in his book "Ocean Theory", which also costs a bit, but far less than his software. If you are really interested and have a little bit of "maths understanding" it's worth to read it before thinking to buy the relative expensive software products. Sloman works with spreadsheet examples and you should be able to take his ideas as additional input for own development. The book don't deliver perfect finished solutions! For me it was a very good input or hint to develop my own trading system components further (especially the non-linear "power law" aspects of his ideas) and my first shot was a development of a very competitive EOD trading system for the german dax index: http://www.zentrader.de/html/trading_systems.html bye, zentrader
Just curious - does anyone know much about Jim? I looked on Amazon and there are books by James Sloman - Handbook for Humans for example. I note that the publisher is Ocean Blue - is this a coincidence or is "our" Jim the same Jim as this author? OK - I can answer my own question - he IS one and the same. As with the original poster, I would love to know of people's opinions of Ocean Theory.
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@horribilicus, just a hint: perhaps you should be more careful with publishing copyright protected content in a public message board... Concerning the OI, i understand it so, that Sloman uses it as a first basic for normalization and comparison of prices in different markets and different time frames. From this constructed OI principle he derived his proprietray indicators (e.g. NMA = natural market average indicator etc.), which are partly described in the book. The software contains more indicators and these are supported to fit to trading system development software like Tradestation. bye, zentrader
So there are indicators for his theory to backtest? Are there any available for MT4? Would be interesting to see how 24 hour markets play out.
Hi Chifai, a buddy and I recently spent several weeks with the Ocean indicators looking for an advantage over traditional indicators such as MA, Bollinger Bands, ADX, MACD, Stochastic, etc. These are the basic indicators which the Ocean indicators mimic. The Ocean indicators use no inputs, so you put them on a chart and they are ready to go; there is no particular look-back period as the indicators are self-adjusting based on the current daily relationship between price and time. With "normal" indicators you usually need to do a little back-testing to find the sweet-spot inputs for any particular market. After extensive testing in several markets, using the indicators according to instructions and then getting creative with some of our own variations, we were stumped; the Ocean indicators performed fine, but no better than our normal indicators with our standard inputs. Actually, the Ergotic as an OB/OS and divergence indicator performs better and more consistently than any of the Ocean indicators. Now, in fairness to the Ocean originators, the underlying formula is unique and self-adjusting, and the package is very slick. But we could not justify the price vs. performance. We were looking for a one or two day edge over other indicators, but we couldn't find it. Also I should mention there is a DVD course which is supposed to go into more detailed strategy; perhaps the course contains something we missed? We decided not to put any more money in this direction(cut your losses). Again, I compliment these guys on original thinking(and good marketing!) but I cant reccomend shelling out the cash for this stuff. Obviously, this is only my experience and opinon. Someone else may tell you it's great and they're making tons of dough! Hope this helps and good luck! Greg