Old Updata Customers

JonnyT

Senior member
2,560 22
Hi dunlop,

Don't blame the market or your tool/s for being broke.

You are not trading in the zone as Mark Douglas would say so can only expect to lose.

JonnyT
 

zambuck

Experienced member
1,608 102
...I think in dunlop's case he has more than resonable right to blame his tools...if not markets...

In his case he has mentioned some quite right and serious situation regarding the package that many users have also grumbled about..
 

BlueChip Trader

Active member
165 4
Hi oatman,

To put in a diplomatic language, I had useful and frank discussion with David Linton. He said I am the only one who has complained, which is not true. He said either some refund or forward value will be offered to me. We shook hands and I left.

For next 14 days I'll leave it at that, but its not the end.
 

lockstock

Well-known member
400 4
Mmmmm! Interesting thread.Anyone that's get one over on Updata deserves a cyber pat on the back. The latest dollop of 'do-do' that they have served up has more bugs in it than Fash's plastic pants.

The chap that posted blaming the 'tools' ( Updata) is spot on & there are many more that have lost £ 0000's because of the shoddy product they have brought to market over the last 10yrs.

Every new upgrade takes them one step forward & two backwards. There are two things that knock you out of doing this on a daily business.

1) Running out of cash

2) Time

The above are intrinsically linked, more so when using Updata Software.
 

oatman

Senior member
2,879 22
Lockstock,
I agree with you. I decided to give up on Updata's TA. I found I was spending my time trying to get it to work, emailing, waiting for calls. It's just too much. You need to concentrate on what you're trading not worrying whether your charts are correct....they weren't by the way. I pointed out that they missed trades. It was never resolved.
I'll have another look in a couple of months.
 

dunlop

Member
60 1
to jonnyt
please explain "trading in the zone".
have you ever bought shares then lost data feed,through bad software or tv signal? you are in effect blind to what is happening .more than once i bought shares and was unable to track them for long periods,in some cases losing sizable amounts.
the whole point of updata is to show real time data reliably thats why people buy it!
 

JonnyT

Senior member
2,560 22
Hi Dunlop,

Use stops. Remember there are other sites where you can get live quotes for free, so your point isn't valid. You could still have managed a trade without incurring large loss's. If you had internet or phone access then you could have traded direct with your broker.

Alternatively have an SB account with Deal4Free and use there charts as a backup. Raw but better than nothing.

Don't blame your tools for your loss's and buy the book 'Trading in the Zone' by Mark Douglas. You must take responsibility for your trades, good or bad.

JonnyT
 

lockstock

Well-known member
400 4
Hi Johnny,

Your missing the point. If you are looking to have back ups then you cannot possibly anywhere near being in the 'zone'.

To do this you need 100% concentration, so therefore you don't trade when your software is playing up or you soldier on & do the best you can, the end result you probably loose money- Remember this is a steep learning curve for all of us. & to have software that is continously playing up followed by intermittent bouts of good behaviour that enables you to do 6 weeks trading , the company then produce an upgrade & low & behold your back to square one, problems, bugs fixes, telephone calls, e-mails. There is NO WAY you can trade properly under these circumstances.

I agree with your stop loss, only to get you out of the market, but we are talking about software that's being defective on & off for the 4 years I have had the displeasure to use it & most likely a lot longer than that. You could ask why do you persist. Good question. In the vein hope that one day they get it right.Or they appear to get it just about right- then bang comes up another upgrade that hasn't been tested sufficiently & it's the users who have to properly beta test it for them.

So that brings us to the second option Not trading. Okay preservation of funds, but over time if that pile isn't increasing in my book it's the same as loosing money, that's unless you're sat on a pot load of money & don't need to earn a living. So that's where time comes into play.
 

JonnyT

Senior member
2,560 22
I'm not missing the point.

You are blaming your tools, when the real blame is squarely with yourselves.

You could have changed data provider.
You could have chosen not to trade.
You could have placed stops.

Did you buy and hold Marconi shares?

Look in the mirror.

Sorry to be so blunt.

JonnyT
 

catsdad100

Junior member
33 1
Perhaps I have missed the point recently, but surely if it is so prone to failure, and hence causing the prospect of money losses, why do you all persist in using it. Is it not more profitable in the longer term to accept it is flawed, find a decent replacement (and they do exist) and move on. Trading is a business after all, and sometimes in any business wrong decisions are made. They have to be rectified as fast as possible to enable the business to continue. This often causes a short term loss of profitability, but at least allows the prospect of returning to profit. In my experience the Updata products I have attempted to use are thoroughly useless. As long as people keep paying them and put up with it, what reason have they to bother sorting it (although I doubt they could anyway). Simple solution - vote with your feet - go elsewhere, be treated like a valued customer, have support lines that are answered and support you, have a system that works consistently, but most importantly, be able to trade again.
 

lockstock

Well-known member
400 4
Hi Johnny,

There with in lies the crux of the matter.

a) People don't like change.

b) People generally stick with a product ( better the devil you know etc.

c) Most people that use Updata know that it has the potential to be an excellent trading platform & is always nearly- just that.

d) A lot of people don't want to go to the bother of changing software & who says the changing of a product is going to improv e the situation? Looking on here there is nothing conclusive about any of Updata's rivals- from the feed back reports they all seem to be flawed in some manor.

e) I think your jumping to the conclusion-wrongly- that i have personally lost a lot through using Updata. I actually said that I know of many that have & fully empathasise with their frustrations

f) If your computer crashes when the INDU crashes your in a long position. Do you put it down to a personal mistake?

g) I think Updata has the potential to be the best out there & so many of us are stuck between a rock & a hard place until they prove it. Always on the brink- you're right at some point you have to cut & run with something else- but that then reverts back to th e time factor.....

h) Not trading preserves capital- but in the end that money will be needed elsewhere and so dwindles- result find another occupation.

i) It's too easy to glibly say that you can never blame the tools of the trade eg; Fomula 1 driver- engines blows up.

Answer: Go get another team.
 

JonnyT

Senior member
2,560 22
f) If you are serious about trading you will not only have one Computer. If you have then who do you blame? My trading computer/s do not crash because I use the correct OS and do not download all and sundry on those machines. The last time I had any PC crash was probably two years ago.

i) Formula 1 engines do blow, but like trading the winners accept that and try and fix the problem for the future and aim for consistancy. Try listening to Michael Schumaker, he accepts these events and then wins the next race...

JonnyT
 

zambuck

Experienced member
1,608 102
...so now all who complain about Updata do not ue correct OS and download sunderis..???...I get the impression that JonnyT is implying that he uses original software and others who have problems use hookie versions..!!

No to trade it is not necessary to have star trek console or two computers..only that software should work properly and not have repeated breakdown and data gaps...

I use all original software...bought with new computer that I change evry 2 years...unlike others I have network in my home computer room and nothing in my system is hookie or sundries...but I have had huge problems with updata....and that is the fact...
 
 
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