Updata V Sharescope?

[Rognvald]

It is said that David Linton supported himself through college by trading when he first came to the UK from downunder. I don't know whether he still does trade.

 

[DaveJB]

That settles that question I'd have thought
Technically you probably could - I think it'd be difficult to carry it off if you really hadn't a clue, but most outfits generating software would presumably divorce coding from design... ie Jeremey would explain what he wanted, the programming teacm would produce it, he'd then correct any misconceptions etc he picked up. In all walks of endeavour it can be very painful indeed to have to convince a programmer that what you want to do with a program is different to what has been provided - I tremble at the thought of a good programmer, zero interest in markets, being handed a copy of Murphy and told to get on with it!
Dave

 

[jaykay3]

Not much been said about Sharescope here when the title of the thread is Updata v Sharescope.

For my contribution to this thread I have been a real time user of Updata since July last year. I find the system extremely user friendly, I have never had any computer crashes reported by some elsewhere and the only annoying thing about Customer Support is the length of time you are stuck on the phone waiting to get through. However once through they are normally pretty good and 'walk' you through whatever it is you want to know. I have also found e-mails are replied to quite promptly. The Daily Chart of the Day e-mails can show you a tool you didn't know was there and you can always delete them if they irritate you. The advertising for courses that comes with it - well hey they are in business - if I were in business I would be using advertising too.

Regarding the TA side of Updata it has most everything you need with a lot of thought gone in to ease of use by Jeremy de P who for most who know him could not doubt his expertise in the TA field.

Biorythms - I didn't even know it was on there but hey I might take a look now and see if it is worth going to work tomorrow - good excuse fo the boss -ERRM it was the biorythms honest ! But seriously easy come easy go - I would just look on the inclusion in my package as a bit of fun. You don't HAVE to use them !

 

[Nildes]

:cheesy: Exactly, almost nobody who takes TA seriously takes Biorythms seriously :cheesy:
Probably because although there are empirical claims for it, there's no proper scientific rationale or studies which really support it.

 

[GruntnoWay]

:cheesy: Exactly, almost nobody who takes TA seriously takes Biorythms seriously :cheesy:

Really? Not a sweeping statement then? Almost nobody?

Does that mean nobody who takes TA seriously takes Astrology seriously? Well, I happen to know a very astute technical analyst who is on the board of the american TA society who does and uses it to very good effect in predicting markets. I don't agree with him, but that doesn't mean he is wrong and I am right.

Don't knock it until you understand its value - that's what the Luddites did 200 years ago and nearly destroyed our manufacturing heritage.

 

[Nildes]

How can you understand its value when the only argument proffered for it is: "it works because it works"?

I'll accord it more respect when I see some proper scientific rationale for its claims and peer reviewed studies of it's accuracy.
As for astrology, the same applies as far as I'm concerned.

I'm not dismissing either, just according them a lot lower status than more proven predictive systems.

 

[GruntnoWay]

My point was, don't knock something you don't understand Only luddites do that. Simply accept that there are those that do.

I don't understand Elliott Wave, but that doesn't mean its rubbish.

 

[qaza]

I understand Elliot Wave..........................it's rubbish !

 

[GruntnoWay]

I guess that's the same Elliott wave that's been predicting a top for the last 9 months. They will be right one day :cheesy:

 

[Nildes]

I took your point, I'm not a Luddite, quite the contrary. The luddites were trying to preserve a way of life as much as trying to halt the march of progress.

My view is that there's little to understand in Biorythms and I'm unwilling to accord respect to something that passes itself off as scientific but is in fact mumbo jumbo and will remain so until it has a scientific pedigree.

I don't see that position as standing in the way of progress in any way, more as pushing aside the dross that surrounds the real nuggets.

I have reservations about Elliot Waves and Fibonnaci Series as legitimate TA tools but whilst they may be residing in a grey area from a methodolgical point of view, the position of Biorythms is frankly preposterous.

 

[GruntnoWay]

But biorhythms are not TA tools. I am still not convinced you understand that point. Anyway, enough of this banter.

 

[Nildes]

I agree.

So to close the circle, they shouldn't be in the Updata TA system.

 

[DaveJB]

Purely on a technicality, I think the Luddites were intent on preserving their livelihood, rather than questioning whether the spinning jenny worked or not.
I'll agree to knock it off also - Astrology, Biorythms, whatever vs quantified processes (ie 'I measured it, the % equals....' approach) always results in polarisation where both sides are determined to burn the other for heresy. When all is said and done this has run on rather a lot after an almost throway line, so I hope Mr Gruntnoway will accept this electronic handshake, we'll agree to differ?
My apologies to anyone who got bored with this discussion - you DID choose to read it of course
Updata v Sharescope - I like eSignal personally......
Dave

 

[Nildes]

OK Dave,
I'll put the petrol can back in the garage and the matches back in the kitchen drawer....there'll be no bonfire of vanities or burning of heretics on this thread :cheesy:

What about Sharescope then ?
Too good to criticise?
Or dammed with faint praise by being ingnored?

Personally, I liked it but, like much of Updata, it didn't suit my Trading and Investing needs.

 

[GruntnoWay]

LOL, yes this thread was about Updata v Sharescope. TBH they are not in the same division. One is a top end technical analysis programme and the other is a sort of low end charting programme. Updata is for people who use charts and technical analysis to trade. Sharescope is for people who have heard of charts and perhaps want to see a graph (sic) of the stock. I would never use Sharescope to make a TA decision. I wouldn't trust it, but if you are into PE's and stuff like that its fine. Its the sort of programme your local investment club made up of 60 somethings would use on the communal PC in the back room at the pub

 

[Nildes]

Well Sixty somethings might be more risk averse than you..........maybe they learned some hard lessons from life?
I like the idea of investment clubs although I've never been to one. Does one do the business before or after a couple of pints of Theakstones? :cheesy:

I'd be inclined to say that Sharescope focusses more on Fundamental analysis and that this is where it's main strengths lie. I agree that programs like Updata offer a lot more in the way of TA usability.

FWIW Sharescope has a loyal fanclub and an active BB of very knowledgable users.
Whereas Updata has still to cross those bridges and gain a following.

 

[DaveJB]

Hmmm,
(pushes head firmly back into mouth of yawning lion )
Sharescope EoD I'd agree is not for TA, you might fall for a Nigerian scam letter but using SS EoD for TA would be pushing the realms of possibility. To be fair it is very much a Funnymentals program, and the boss is a very nice man who I'm sure almost patted me gently on the head when I spoke about TA to him once upon a time. (Be kind to loonies sort of thing).
SS RT I've heard good things about - without wishing to start a flame war email chats with some of my users have suggested that SS RT is perhaps better at backfilling data and news? Dunno how true that is, but it has been commented on a few times. I use esignal myself, but those adopting Sharescope RT seem to be as keen on it as the EoD types are on the SS EoD version. I suspect it's another case of just liking one more than the other... list all the competing programs and you'll get 'xxx is the best' votes for all of them, just some progs will get more votes than others.
SS RT is definitely one I'd trial, I think, as well as trying out eSignal and UTA... and doubtless many more! (Tradestation seems rather popular, for example....)
Dave

 

[Money_magnet1]

Hi all,

I'm currently trialling the eod version of Updata TA and although there is still the odd glitch overall I really like the interface and look of the charts, it also seems very intuitive.

My question is, Sharescope is cheaper for eod but is the datamining feature in it as good as that of Updata TA ? I get the impression that the sharescope scanner is more about scanning for fundamental criteria plus moving averages only. Is it also posible to use it to scan for complex technical indicator patterns as you can with updata ? This seems like a powerful feature which might swing me toward Updata TA despite the occasional glitch and extra price.

ps. Does Sharescope have an optimisation feature like Updata TA ?

 

[the blades]

Hi all,

I'm currently trialling the eod version of Updata TA and although there is still the odd glitch overall I really like the interface and look of the charts, it also seems very intuitive.

My question is, Sharescope is cheaper for eod but is the datamining feature in it as good as that of Updata TA ? I get the impression that the sharescope scanner is more about scanning for fundamental criteria plus moving averages only. Is it also posible to use it to scan for complex technical indicator patterns as you can with updata ? This seems like a powerful feature which might swing me toward Updata TA despite the occasional glitch and extra price.

ps. Does Sharescope have an optimisation feature like Updata TA ?

As a SS user I'd suggest that the data mining filter, though good, is for fundamental data. The TA filters are very basic and though I can't compare, I'm sure you're better of with Updata for this.

There is no backtesting / oprimising facility available within SS.

UTB

 

[Money_magnet1]

the blades, Much obliged.