Welcome to the Omniscient Trader Community!
Omniscient Technology is developing an online community to help investors connect to each other
in a very user friendly manner. We developed a unique personal tool that connects to our
community website from which you can elaborate your trading strategies and share them with others.
We almost completed the first Demo version of the community. That means you will soon be able to create
an account
here, download and try our application. The rest of that page will focus on describing what the community
is all about. Please note that we cannot stop a precise date, as François' wife is waiting their first
kid by the end of April, which will probably keep him out of regular work time for a while! But we still
focus on delivering the Demo version before June.
Overview
The Omniscient Trader community is described as a place where traders of all kinds and abilities can
meet and share knowledge together. Traders can build up "trading teams" to share tips, order descriptions,
alerts, technical analysis, etc. From a pro-trader or money manager point of view it becomes a one-stop
shop for delivering strategic information concerning any aspect of the market to any registered community
users. Think of this service as an easy selling point for those money managers who really profit from
the market and as a one-stop shop for traders to become more familiar with the professional
advices from selected money managers.
On our web site, you will be able to see upon sign-up other traders information, like trading statistics,
team description, team subscription fees, etc.
Remember that anybody will be able to build a team, enroll people in their team, and automatically
collect subscription fees through major accepted credit cards or Pay Pal. Most of the benefits are
free of charge, with the exception of pro-traders wishing to charge an enrollment fee for their trading
strategies. We will then ask a negotiated percentage of that fee to cover our expenses and grow our
business.
The community comes with a free desktop application for Windows® operating systems which enables our users
to enter and share orders with team members.
Using the desktop application, you will be able to connect to your favorite online broker's personal
account to create orders and execute them live. You will also be able to synchronize the application
with your current order system for those wishing to continue using their current trading system or
broker applications. The Windows client always keeps a secure connection with the online community.
You will able to see your teammate statuses, be able to send messages and trade descriptions to them,
etc. The application will also automatically save your trading history into your online profile,
allowing other members of the community to see why they should enroll in your team!
Trading teams
The trading teams are not implemented in the Demo version of our product. Rather, we wish to explain the
feature here, and work hard to deliver it soon. A trading team will be composed, at least in the first
versions, of a "team leader", also known as a pro-trader, and one or more traders. The team leader is
generally a person who is confident in her trading skills, and wishes to share that ability with others.
The team exists primarily for the purpose of exchanging messages. All team members can send messages to
each other. However, the team leader can also send a special kind of message: an order description. That
message is special in many ways; first, it's not a text-based e-mail message. It's a packet of information
that is well understood by the client application, and that describes precisely a market order. Upon receiving,
team members can then decide to observe the trade, live, in a "benchmark strategy"; or, they can choose to
follow the order, easily replicating the order in their own live account, at their favorite broker's.
The concept of Strategies
One of the core features of the community is the concept of Strategy. A strategy is just like a portfolio;
it has a name, a history, a value, and generally follows all other concepts of a financial portfolio.
A strategy can either be "live" or "benchmark". Live strategies receive real orders that will be
communicated to the broker for further process in the user's account. Keep in mind that most brokers offer
you the opportunity to open demo accounts, though.
On the other end, inside a benchmark strategy, no order will ever be transmitted to the broker. But the
difference stops there; the benchmark strategy will see its value reflect the real assets' value
(Mark to Market).