Updata V Sharescope?

[Marc100]

Hi...

Firstly, I appreciate that this message should really go on the Software board but as this board gets more hits I thought I'd get more replies. So apologies upfront!

Currently I have both trials of Updata TA and Sharescope running on my system.
I would class myself as a beginner/intermediate at TA.

I started with Updata and quickly got to a stage where I felt confident in using it. Then I read the reviews page of Trade2Win and saw that many traders rated the programme poorly.

Many people rated Sharescope as one of the best to use so I then downloaded Sharescope so I could compare the two.

First impressions are that I find Updata TA more intuitive with clearer layout.
It produces better charts with more extras.( Bells & whistles)

1) I appreciate that within 6 months Sharescope would work out far cheaper for EOD but what other reason's are there for using it?

2) Is this a case of David & Goliath , with people siding with the underdog?

3) Do you feel Sharescope's chart's provide as clear a picture as Updata's?

4) Does anyone here actually use Updata TA?

5) Any other comments?

6) Do I really have to start from scratch learning Sharescope?

Sorry for the long winded message but it really is bothering me.

Kind regards

Marc AKA Confused .

 

[waytogo]

Hi

I have never used Updata, as all of the people that I have spoken to who have used it said it was unreliable. Also you cannot get the futures through Updata (at least you couldn't last autumn when I spoke to them) so it's no good if you want to trade those (which I do). However I used to get Sharescope until I needed the intraday stuff, and I found it very reliable and easy to use, and would recommend it if you only want EOD.

There are reviews of all the main software packages on this website, all of which I would consider to be honest opinions. I don't think anyone would say the didn't like something just for the sake of it.

Waytogo

 

[DaveJB]

Marc,
having used Sharescope a long time, and trialled Updata (I bought Indexia, incidentally, the forerunner to Updata TA) ... I cancelled Updata for one main reason - they NEVER replied to any emails of mine, phone support works, but when I'm working on charts at midnight I can't phone... my view is that to set up supposed email support, then to totally ignore it, is to suggest the customer isn't as high a priority as they ought to be.
Updata is TA, Sharescope is fundamentals - it's also a rather useful datafeed for running in conjunction with a decent TA program, of which there are many. Any halfway decent TA program will suit the EOD user in my view, so personally I'd select based on the features - I would NOT go for Sharescope if only interested in TA, I would consider Updata.... but would probably, in the end, go for Metastock or similar and use Sharescope as the data feed. I personally run Metastock 8, Sharescope, Pfscan, TC2000. I consider Updata's lack of support dreadful, and that is high enough on my personal priority list to keep them from my programs folder - for info they responded to my cancellation and suggested this non-replying to email was unusual, a real one-off etc. I then had problems downloading their 'Trader' demo and, almost 2 months later (this was a 1 week trial by the way <g>) have still not had a single reply to around 6 emails asking for help... admittedly after the second or so they tended towards the sarcastic, which probably didn't go down too well!
Dave

 

[genti]

Marc.

i have used UPDATA (real time and end of day) some time ago, actualy you are right , with updata you can get many type of charts etc, but i find it very hard to work with,and after some time i found out about share scope , which i have right now, and it really seem to be great,

Best wishes
Genti

 

[catsdad100]

I use Sharescope Realtime and have done so since it came out. I have had two problems in that time and both were sorted quickly. By contrast I tried Updata Realtime for a week and gave up on day 2. They were unhelpful and when you did get some help they were as good as useless. The system would not work properly and interfered with other stuff I run. Now I know that Realtime and EOD are quite different, however I would cope with any shortcoming on the part of Sharescope on the basis that they do care and make constant efforts to listen to their customers and add features that people request. With Updata I felt that their arrogant and supercilious attitude and complete failure to recognise any difficulties could be down to them was enough to make me run away from them. This job is hard enough without unhelpful companies causing you new problems and expecting paid for it. I had the impression that the customers are paying to be their guineapigs. Perhaps I have been unlucky, but a couple of years previously I purchased their analysis system and could not get it working. In the end, after a battle, they agreed to refund me as nothing they tried could make it work.
It should have been once bitten twice shy, but I would never go near them again.

 

[Skimbleshanks]

My only dealings with Updata tell me they are to be avoided - they are arrogant, cocky, and belittle their customers.

And just try and get yourself off their mailing list - IMPOSSIBLE! I've asked very nicely, asked nicely, asked, moaned, pleaded, begged, and I'm still receiving their stuff. And just in case you think that by emailing David Linton direct (md of Updata) gets you any better response, think again.

Every time someone mentions Updata, I always think they mean UpYours.

Sharescope on other other hand are the complete and utter opposite - by far the best trading software company I've ever dealt with when it comes to customer response.

 

[Marc100]

Updata=Uninstall!

Thanks for the responses guys. Both informative and obviously knowledgable.

This thread has led me to conclude that I don't want Updata or Sharescope.
I personally don't like the basic look of Sharescope but might consider them for a data feed as alluded to by DaveJB . I want a more robust programme.

DaveJB, you mentioned Metastock which I'm now investigating. I like the look of it as it contains Options and Futures which I'm interested in.

Anyone know or rate the below link as a data feed, seems cheap?

http://www.finexprestel.com/piproducts.html

Thanks again.

Kind regards

Marc.

 

[zambuck]

...I ue Prestel as I have always used EOD data to trade and has done very well anyway...I may go full time eventually but at present with EOD have made few quids...VOD, BARC were examples which were identified as buy by Metastock 8.. made few bobs.

I also use Metaload and Metatools with Metatock...Metaload rings Prestel and downloads data every day on time and updates data...(useful if you are not on system)...Metatools maintains data into sectors and FTSE 100, 250 etc etc...however that service has stooped because of FT site change.

With 'web link' in metastock you can get fundamentals of any chart that is open...web link is maintained when you chnage security...very useful feature...so I stopped using Sharescope after using it for 2 years....

 

[spindleshanks]

Downdata is a more appropriate name for Updata.
I was one of their early customers and since Trader pro was released it has been a hell of a job trying to get it to work.
I eventually had to stop using them for the same reasons mentioned by other members ie non existent support, crap software which interfered with everything else that ran on my machine, more promises and also very expensive.

I have been using eSignal for about nine months and never have any problems. Support calls are answered very quickly. They also have a live online tech support which I've used may times
eSignal do free 1 month trial. So give it a go and see for yourself

Good luck

 

[DaveJB]

You might have already looked at paritech, but if not www.paritech.co.uk have been very helpful to me recently and they have a nice demo packup you might like to browse through. I had to go via the Equis site to get Metastock 8 as I wanted the SDK as well, but Paritech have been good for other stuff. Their RT data etc is perhaps not that extensive from the look of the price list, but their EOD help has been good.
Dave

 

[Marc100]

Thanks again guys!

Your help has been much appreciated.

Marc

 

[Orchid]

First time on this site for ages - sorry! However, hope the following is of use.

I have used Sharescope EOD for 3 yrs and it is excellent. I now use Sharescope Real Time, loads of bugs in the beginning but it is now pretty robust and I think it's very good.

The point others have touched in is worth endorsing - Sharescopes backup is absolutely brilliant. Software engineers will even give you their personal line and email addresses AND email a beta to you if you discover a bug.

MetaStock is also an excellent EOD system with a few more indicators than Sharescope (such as Parabolic SAR).

Promise to visit more often - some good stuff!

Orchid

 

[reactor]

Updata TA2 & Trader Pro 2 with level 2 feed

i tried TA 2 and Pro 2 a couple of months ago for a week. it was ok, especially in terms of visual appeal. however, the way you operate some of the functions is not at all intuitive, especially the zoom in and out button for graphs. i didn't have anything running when these programs were running and not many things were happening in terms of analysis except for real time graphing, yet my pc was having difficulty at times keeping up.

Pro 2 seemed to be only a news ticker when i thought it was going to be some extra software analysis. the only way i can explain this is that these extra functions were incoporated into TA 2 during installation. their site isn't any clearer on how these two platforms are meant to work together, but even more importantly, whether not you need both. as though things couldn't get more mysterious, i've yet to mention that there was no level 2 data to be found anywhere... mysterious indeed...

the data feed was ok but at times i felt it was lagging as no data came through for a few seconds. another issue i didn't like was how windows wouldn't automatically line squarely like they do in microsoft windows, so when you tile some windows in TA 2 it looks like a botched builders job. it reminds me of the Ferrari F40 when it first came out, where you paid £250k for a car that had draw strings to open the doors from the inside, as well as being painted so thinly that you could see the fibre glass weaving underneath it in places.

for those chasing the elixir of instant data, they will be temporarily satisfied as their urges are indulged. when the excitement has died down it becomes too obvious that superficial packaging and fancy labelling is all that one has paid for. for £1500, or there abouts, for software and a live data feed for a year, i feel i must have missed out something important about the software to justify the price...

i'll let you decide.

 

[Uncle]

Skim.........Send Updata's junk back to them in a plain envelope without a stamp..........Post office charge the receipient the postage due plus a fee of 80p.

It works with other companies i had probs with!!

John

 

[Skimbleshanks]

Uncle - I emailed David Linton at his personal email address, and he gave me his word that I would be removed from their daily spamming session called Chart of the Day.

But, surprise surprise, 10 days later I am still receiving the rubbish, although they're obviously having a laugh because I now receive it twice.

It just goes to show that the all the 'negativities' associated with Updata appear to start at the top. If this is how they treat people who are on their prospects list, I just hate to think how they treat their actual customers. Perhaps all you read on BBs is true.

I live in hope that the company will actually carry out its promises.

 

[Marc100]

Just to reiterate what Skimbleshanks says. I too have the pleasure of receiving two chart of the day emails even though I emailed my request that I wanted nothing more to do with them.

I'm so glad that I heeded the advice given and didn't take up Updata.

Kind regards

Marc.

 

[reactor]

we should set up a poll to establish who gets the most junk mail from updata because i get two from them every day about their chart of the day.

[Mod's note: Edited to tone down colourful language. Let's keep things civilised.]

 

[Nildes]

I've used both Updata and Sharescope. I found Sharescope to be a little too investor (long term) oriented for me but had good support and very friendly.
I chose Updata because it had a whole batch of indicators you could tinker with to suit your style.
I still use Updata, subscribing to the EOD version. I find it very powerful and easy to use with possibly too many bells and whistles.....it even charts Biorythms!
My grouse with Updata is that they want their clients to use the package without understanding it. They won't answer questions about how their Investia MA works for instance or how their P&F targets are calculated.
In fact all my enquiries in this direction by e-mail have simply resulted in an invitation or suggestion to attend yet another £300 course on how to get the best from it.
Their technical support is quite good provided you don't call out of hours.
The users BB was always empty when I checked in and may have dissapeared.
Its a competent package and continually being improved...there may be better for the more experience user but I think Updata is quite good for the relative novice to TA.

 

[Rognvald]

I have been a customer of Sharescope eod since its inception and of Updata's real time TA/Trader for 3 yrs.

It really is not a contest as even the eod versions of both are aimed at 2 entirely different markets

Sharescope as has been said majors on fundamental analysis and Updata on TA. They really are chalk and cheese.

Uodata have annoyed a number of people in the past (me included) by their failure to deliver reliable software or an acceptable level of support.

I believe that this is now largely behind them and that as a TA package for certain classes of instrument it will soon be hard to beat. Unfortunately people like myself have funded the development costs.

There are certain aspects of the program which are probably better than anything else on the market eg the point and figure charting.

Unfortunately the only access to futures on UD (using their own feed) are those on LIFFE and the choice of exchanges offered as part of the subscription package are limited to that one, LSE and NASDAQ. Others are available by using another data vendor but this becomes (for me) too expensiveto consider as the program is light in features I would like and heavy with those I will not use.

It is not now possible to purchase the software outtright and subscribers pay for the data package too (either eod or rt) - rather like esignal. Upadata can use other feeds (such as esignal)but there are not many auto configured ones. It can be manually configured to any dde capable feed but this requires some programming knowledge.

One of the main criticisms was brought on by the programs use of 1 large database for all instruments - this could easily become corrupted. There is now a file for each instrument in each timeframe and corruption seems no longer a problem. The curent d/b construction (if you are on the UD feed)automatically collects data only on those instruments yuo wish to follow but in any timeframe. If you need further data (in any timeframe) the program automatically downloads it from the Updata servers.

I can quite understand why UD have such a bad press in the past but I believe they are putting this behind them. Service has improved dramatically.

I remain a customer of UD until my current sub expires in April - it may well be that I return to them in future but meanwhile I have a program that better meets my needs as an intraday trader - Linnsoft's Investor RT.

I retain Sharescope for longer term fundamental based trading of LSE stocks. I hear what has been said of the flexibility of S/S as a feed for say Metastock but I have never been able to make it work to my satisfaction.

Iwould never rule out Updata but you must know what you want to do with it before getting too deeply committed. It has been a major expense on my learning curve but probably a necessary one.

I sense a conflict within the company on their approach and this is typified by the two main personalities. David Linton's approach is at one end of the spectrum and Jeremy du Plessis' is at the other - the software reflects this dichotomy.

 

[DaveJB]

Updata targets in P&F are bog standard Horizontal and vertical counts, or they were last time I looked - www.dorseywright.com have a 'PnF University' (free access) where TD has posted huge chunks paraphrasing his book that covers how to calc this sort of thing.
The Indexia MA I can't help you with, maybe it's me but I've never really found doing anything to an MA consistently helpful... you're trading lag for confirmation, fiddle with weighting and you're making assumptions about one price being more important than another or whatever... sometimes this sort of idea sounds sensible, maybe even IS sensible, I've just not found any overwhelming results to support one type over another. (I haven't checked every possibility in the universe yet though).

Biorythms, when I saw that stuff in there I thought they'd lost the plot... <g>

I compete with Updata, so won't comment further about what I do or don't like, it would be unfair.
Dave