Quote from guy990opl:
I too want to use a software and I am not sure if I should go with Optionetics Platinum or Optionvue.
Like someone else wrote before it isn't about the best software but about what works best for you.
So far I got the feeling that software from Optionetics Platinum would be easier to use and understand compared to Optionvue.
Agree, disagree ? Any comment will be appreciated
Thank You
platinum is a web-based service. you pay a subscription fee, and you get access to its data and analysis.
the database is hugh, and the kind of analysis you can ask it to do can fill a book.
e.g. one of the useful analysis it offers being the backtest capability. platinum has a database of 5~6 years of option data. you can dream up a strategy, say buying an OTM butterfly on oct 20, 2005, you can key in the trade into platinum and step forward through the history day-by-day and see how the options behave in reaction to the earnings announcement, and see if your "speculation" idea made you any money.
doing the 14 days free trial is good only if you are already an options trader. If you are new to options, forget it, the site will overwhelm you with its rich content. (besides, you won't know what to do with all its analytical capabilities.)
about OV, I would suggest you to get Len Yate's book:
http://www.amazon.com/gp/product/04...ref=sr_1_1/104-3236597-8491929?_encoding=UTF8
Len is the creator/owner of OV. His book talks about advanced level option trading, it is a very good book, and is not a sales pitch of OV, although OV is used for illustration throughout the book. a trial CD of OV is included. If you are interested in OV, it does not hurt to get the book first and see how he uses the OV program.
for the amature option trader, OV will be an overkill -- it is expensive, and its portfolio approach capability will not be of any value to the retail trader.
if you are serious about learning to trade options, platinum is a good starting point. The cost is minimal, there is no software to buy, no program to install, no additional datafeed purchase, and no database to maintain. At the end of the day, if you don't like it, just discontinue the subcription. The most you loose is the few hundred dollars of fees you paid.
