A waste of money (in my opinion)
The above issues do not change the basic assertion that there are many companies out there that provide a superior service to Updata for less money. I will list a few companies as I dont really want any of you to spend large sums of money on a product only to find that services exist which do a better job for a lower outlay. Money is not an easy commodity to acquire and the last thing I would want any of you to do is to waste it on a product which is known to be deficient in certain areas, in comparison with the competition.
1. InvestorRT by linnsoft:-
This has far more technical indicators than updata's offering and is fully programmable hence allowing backtests (see
www.linnsoft.com for supporting evidence) Chad Payne of linnsoft will also do the programming free of charge which to my knowledge is unheard of in the industry. Costs about $180 for three months use and can be used with mytrack or esignal feeds amongst others. THis is a good example of a package which is cheaper but far more powerful than updata.
I used to use the above but now just use esignal.
2. Esignal offers a data feed and chart package which I have found to be reliable and relatively lag free. The latest version also provides many more indicators than updata and is programmable hence enabling back testing (updata could not do this the last time I looked). See
www.esignal.com for supporting evidence. This again is cheaper and more powerful than updata.
3. Wealth-lab which I use is now probably the the most powerful software for back testing on the market. For supporting evidence see
www.wealth-lab.com. It costs only $650 which again is much cheaper than the updata offering. There is a new version around the corner which will have a real time scanner capable of using "tick" level data.
4. AIQ with mytrack is again another cheaper but more powerful offering than updata. For further details see
www.aiq.com AIQ enables back testing but seems more suited to end of day trading rather than daytrading. I have not used this product.
5. Neoticker is an excellent package that I have used and only costs $40/month. It extremely flexible and can do almost anything that trader is likely to need but unfortunately is not as easy to use as investorRT. Further details are available on
www.neoticker.com I have used this product and customer service was in my experience excellent, always replying to emails within hours.
Most of the above products can be used on the financial markets worldwide and a further advantage they have over updata is that they involve monthly billing (except wealth-lab which is a one off purchase). In contrast once I paid for updata that was the end of the story. So with the above products you can chose something that fits your personality and pocket and thats definitely worth considering. The above is not an exhaustive list just a selection of services I have experienced.
So as is plainly obvious many companies produce a better service than updata and are cheaper to boot.
On a separate issue updata advertise regularly in the media and I hope the above post will make it clear to the intending trader who may be influenced by Updata advertising that there are a lot of nice products out there. Unfortunately because the above companies are based in America they dont often advertise in the UK and sadly newbies are not aware of them. Further, I have no connection with any of these companies. This post is motivated by my deep desire to see the newbies receive better value for money. I wish someone had helped me in the same way when I started off.
