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Jim Dean

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Posts: 1059

Joined: 10/11/2012
Location: L'ville, GA

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Subject : RE: An unabashed plug for OmniVest
Posted : 3/26/2014 1:05 PM
Post #29602 - In reply to #29584

Someone who has been debating whether OVest is adequately sufficient unto itself for him, wondering whether OVest negates his need to really master the ins and outs of OT, just replied (by email) to my prior post here, saying:
... regarding your comment "I've come to think of OT as the laboratory, and OV as the bank"... Being a particular hands-on type guy myself, I can see clearly now that discarding or bypassing my laboratory (OT) would not be a good idea! Time to get the OT instruction manuals out :)

I thought this was a particularly insightful way of looking at it. Further to that ...

SO much in the trading world depends on the "bent" of the person who's doing the trading. There's no "best way" (altho there are a lot of "bad" ways). IMHO the important thing, re detail and understanding of stuff, is a person's comfort level and trust level. I often quote the maxim "I'm from Missouri" ( the ShowMe state ) ... it's sort of a curse ... I find it difficult to be comfortable without understanding the things that are relevant and significant to the issue.

OV Systems, taken individually *by themselves*, are somewhat "uncomfortable" for me (the "details" guy). I considered OVest Systems originally to be "blackboxes", but with V2 & upcoming "transparent" features I now think of them as "grayboxes with a silver wrapping" ... the two reasons being ...

1. Since the OV paradigm "melds" many Strategies together, the individual significance of the "black" nature of each System (part of the "Strategy" = System+Dir'n+List+Condition) is "wrapped in silver", and my confidence level is augmented by the ability to define direction, lists, and filter conditions, plus the WELL understood and user-controllable processes that OVest entails.

2. The fact that OVest mixes many strategies together dynamically, reduces the "significance" of lack of transparency of any given System in it. It's like adding two numbers together ... one billion, plus 13, is still for all intents and purposes one billion.

Btw, the terminology is awkward. An OT "Strategy" is a "System" in OVest ... and OVest Strategy is that System plus the qualifiers you add. Maybe they will change the terms later on to reduce confusion.

Understanding OT is valuable and a necessity, when you want to dig in, and be creative, and know what's going on inside-out with a strat, BECAUSE you created it. Or when you just GOTTA do it your way. When Elite Trader is activated, and able to feed custom Strat's to OVest, that will fully engage OT in the process.

This is a perfect example of how the Aristotle-quote in my signature-line should be applied ...

[Edited by Jim Dean on 3/26/2014 1:22 PM]

Deleting message 29602 : RE: An unabashed plug for OmniVest


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