Ask Colin

Concerning Metastock or Omnitrader, do you have assessments of these trading systems?

I have not done evaluations of these trading systems.

I have never looked at Omnitrader, but I believe that the ASIC considered it a black box, because it seems that they forced Paritech to get an advisers licence before they could continue selling it.

Metastock is mainly a charting program rather than a trading system. However, it has an expert module that I believe that the ASIC considered was giving advice. I am not sure how they eventually left it with Paritech, but since they got a licence to sell Omnitrader, it ceased to be an issue.

As you might gather from my article and the ASIC warnings which I have also published on my web site, I do not recommend any computerised trading system.

I suggest people learn to use charting software, of which I think Insight Trader is the best I have seen in terms of value and features for trading or investing in shares.