Updata - Freedom of Speech

oatman

Senior member
2,879 22
I bought Updata software some 16 months ago and became a Club Member allowing use of their Members Board Forum for "Support" and chat. Some posts, including mine, have in the past, been removed when it suited Updata. A recent thread complained of Updata wanting to charge for support on Technical Analyst which a lot of customers consider to be still bug ridden. Yesterday I posted (on a section "Not Monitored by Support") that I was experimenting with IB feeding Sierra Charts. At the end of my post, I said "I wonder how long this post will last?"
Guess what? I can't log in this morning. That's freedom of speech!


Cheers
 

peugots

Junior member
49 0
Rogue Traders

As a former updata customer I could not recommend dealing with this firm as I found their managing director David Linton to be rude, arrogant and his staff were hardly any more useful. This is a company very good at taking peoples cash and not providing a good service in return. There are many better companies out there charging much less, so I would avoid the r***** from updata.
 

ChartMan

Legendary member
5,580 46
OK here is an official line.
We ask that members take care in what they write whilst in the heat of the moment. If you make a statement about something /someone that you intend to be an expression of your opinion, please ensure that you say exactly that. Saying that company X are fronted by a bunch of crooks may well be true in your eyes ( as well as a fact), but the bottom line is, in reality, it is only an expression of your feelings/ thoughts. If you insist on stating that, as if it were a fact, you are leaving yourself wide open to a potential libel claim and are beyond our help. It is not the intention of this BB to stifle healthy debate, nor edit/remove posts, except in rare, exceptional circumstances. The vast majority of our members respect and appreciate this and that is the way it will stay. Please keep any statements that are potentially defamatory to those which you can "prove beyond doubt" then there will be no mis- understandings.
It is a given on this BB that you are not required to prove that you earn X or Y. If you make a stupid statement , however, that you make shedloads every day doing this , that , or the other, you are bound to be asked for proof!
I make no claims whatsoever as to my abilities, and therefor I do not have to provide any proof. Next year I'm going to be a millionaire.......
 

JonnyT

Senior member
2,560 22
Hi Chartman,

As a website you may have vicarious liability.

i.e. I could be libelous to someone but you would pay the damages.

As an example a person goes to an office party and is off duty. The person gets pissed, drives home and kills someone.

This has happened in the UK and the employer was found guilty and liable for damages as the persons colleagues made no attempt to stop the person from driving.

Bizzare but true.

JonnyT
 

ChartMan

Legendary member
5,580 46
I don't see what varicose veins has to do with it, but thanks for pointing that out...
Getting blood out of a stone is quite hard, and Old Mother Hubbard was never sued by anyone. :cheesy:
 

peugots

Junior member
49 0
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.
 
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