What is your opinion of using an automatic trading software (scans for canidates, trendlines, trading systems, and stops)? Looks interesting... and it is $295 and $19.95 per month, so I may give it a try... what do you think? Has anyone else in the forum used it?

Thanks,
Heath

Matt,

Here is a good place to go to get reviews from users for all kinds of trading software programs including OmniTrader...

http://www.elitetrader.com/so/

My opinion is that it's best to develop your own strategies and to do your backtesting manually. But I also know that not everyone is going to do that. So a good software program that automates it for you may be the next best thing.

Larry

I bought Omnitrader 2002 and tried to use it with the signals generated but it didn't teach me how to trade. Those signals can change in the middle of a trade when you backtest. I have studied Tom O'Briens "Timing the Trade" using ABC's and fibonacci confluence and it works for me. Along with listening to Tim Ord and Tom O'brien on their internet radio they have given me insight into a world that Omnitrader will not. Omnitrader may give you prospects to look for in the market but I would try to trade by price and volume and obvious chart patterns.

http://www.tfnn.com is the source for Timing the Trade