Stocks & Commodities V. 31:2 (50-53): Product review: Updata by Dennis Peterson

Stocks & Commodities V. 31:2 (50-53): Product review: Updata by Dennis Peterson
Item# V31C02_490PRUP
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Product Description

Product review: Updata by Dennis Peterson


Hutchison House, 5 Hester Road, London SW11 4AN

Phone: 212 763-8535/+44(0)207 199-4747



Product: Technical analysis platform

Requirements: Windows XP, Vista, 7 (32 or 64 bit); dual core processor+; 4GB RAM+; 2GB hard disk space.

Price: Updata Pro $395/month (minimum one year); Updata Trader Pro $499/year; Updata Analytics (requires Bloomberg feed): $100/month

Updata, a UK-based company, has a wide range of analysis features. The platform can be installed on your desktop or laptop and works equally well with Windows 7 or XP operating systems. You can have multiple installations, but only one can be active, and you will need to disable security, which is accomplished with a couple of clicks on your current installation before moving to the next one.

Updata is compatible with several data sources, including eSignal and Thomson Reuters as well as Bloomberg and its own Updata datafeed. Updata comes in three varieties: Pro, Trader Pro, and Analytics. The big plus with Pro versus Trader Pro is that Pro has free programming of indicators and/or trading systems.

In addition, the staff at Updata is proficient at converting MetaStock formula language or TradeStation EasyLanguage to the C++ like language used by Updata. For easy coding tasks, they will provide 24-hour turnaround (they use their UK staff for coding tasks).

To give you an idea of how extensive this software is, consider there are 457 prebuilt custom indicators in addition to several dozen standard indicators, and 229 prebuilt trading strategies. Plus, they have one of the best point & figure interfaces. Not only that, Jeremy DuPlessis, author of the book The Definitive Guide To Point And Figure, is a member of the Updata staff and also the author of their 700-some page user manual.

Installation is straightforward. You’ll be prompted during installation to identify your data sources, and in the case of Trader Pro you’ll be given the option to identify Yahoo and/or Google (which are free).

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