VectorVest vs. Worden's TeleChart

Discussion in 'Trading Software' started by Babak, May 26, 2007.

  1. Babak

    Babak

    Has anyone used both? which would you recommend for filtering and sector following, etc.

    I was turned off by VectorVest because of the way they sell it. Seemed like snake oil but I've heard good things about it from many. So I'm reconsidering.

    Which do you prefer?
     
  2. laeott

    laeott

    Has anyone used both? which would you recommend for filtering and sector following, etc.

    I was turned off by VectorVest because of the way they sell it. Seemed like snake oil but I've heard good things about it from many. So I'm reconsidering.

    Which do you prefer?

    I'm doing the trial right now for vector vest. It is 9.95 for 5 weeks. Its a complicated program. It takes time to learn. Yes they filter for sectors. From the research I've done on vv, they are reputable and plenty of websites out have good things to say about it. Try a search on this website as well as google it.
     
  3. Babak

    Babak

    I was just wondering if anyone here had tried both. But I'll take the opinion of anyone who's tried one or the other as well.

    I saw VV at a trade fair show and they seemed a bit too slick. Basically claiming that their software would do no wrong: tell you when to buy and when to sell.

    But from seeing $costaverageman's use of VV, it became obvious that its true strength is in filtering and sorting the stock universe.
     
  4. agpilot

    agpilot

    Hello Babak
    I've used both. I started with Worden back in about 1991. Later about 1998 I used VectorVest for a few years. Yes I do not like their method of advertising... but once you get the hang of the various things the software can do you will most likely have more respect for the program then their glitzy ads. As far as Worden goes I say about the same for their software... The really big difference in value will be your needs. What type of investor... trader... scalper... are you?? It's like: do you drive a 4-wheel drive pickup with a monster V-8 or do you drive a Corvette or maybe a regular 4-door family car??? There is no correct software unless it is written to match your personality. That's my view.
    So... I'll say try both for a while... The End of Day TC2007 is enough if your just testing...
    Good luck testing them out. agpilot

    Edit: V.Vest will focus more on buying & selling a basket of several stocks and Tc2007 will focus a little more on TA of each stock.
     
  5. As I understand it, they are really 2 different products. I have come across people who use both in their trading. Given that you can get a cheap trial of VectorVest and get the Worden software for free, consider looking at both.

    I currently use TeleChart (real-time version) and have been for the past 4+ years. However, I also use MetaStock, TradeStation and StockCharts to make up for some of TeleChart's deficiencies.
     
  6. TRADERCJ

    TRADERCJ

    I used both. I used telecharts for scanning the market and checked those stocks in VectorVest for buy/sell ratings.

    They are both excellent programs at a reasonable price. Just like any program, it takes a little bit of time to get the most out of them.


    If I had to choose between them, I would choose VectorVest. Only because, it does the technical evaluation of the stock, which is harder and more time consuming than scanning the market for setups, in my opinion.
     
  7. Babak,

    I've used both. I use Telechart mainly because it's data is compatiable with Amibroker (my TA analysis program).. VectorVest data, to my knowledge, is not usable in any other program. The other advantage of Telechart is the more extensive TA that can be used to sort and rank stocks and/or sectors, and its charting capabilities. The main advantage of VectorVest, and the reason why I tried it, was the ability to backtest strategies based on TA and extensive historical Fundamental data...
     
  8. I've used both also. TC is ok... however, just more of what I was already using. Vector Vest is a different type of service altogether because it actually gives recommendations on securities... some of which I tried and worked out. They're just 2 different tools - depends on what you're looking to accomplish. Vector Vest will do more of the "heavy labor" for you.
     
  9. I switched to Telechart from VectorVest for one simple reason---the data is VectorVest is not reliable.

    When we first purchased VectorVest six months ago and began a thorough and systematic evaluation of the product, we initially believed that we could profit by taking the opposite side of the VectorVest recommendation, as our tests indicated that VectorVest's marketing timing calls and stock ratings were wrong about 87% of the time. In other words, it appeared that VectorVest was just a parrot for what Wall Street recommends, and anyone that has traded for awhile knows that when Wall Street says buy, that means sell, and when they say sell, that means buy. Unfortunately, after a thorough analysis, we realized that all testing using the VectorVest system is invalid because the system contains bad math and bad data. Specifically, VectorVest does not properly account for stock splits, includes numerous bad prints in its data. In addition, the mathematical calculations used in the system have numerous errors.

    In terms of product quality, VectorVest is severely lacking. In addition to the bad data and mathematical errors mentioned above, the program frequently crashes, has frequent "divide by zero" errors, and sometimes will simply not retrieve results. As programmers, we were able to definitively determine that all of these problems were due to poor programming practices, poor quality assurance testing, and most importantly, an arrogant attitude on the part of the support staff and a refusal by them to fix the problems. We are confident the reason for this is they sell so many copies of this flawed product that frankly, they don't care. Moreover, they DO NOT offer refunds, so if you purchase anything other than the basic monthly data, which you can cancel but not receive a pro-rated refund on, you get no refund. In other words, they know the software has problems, therefore, they do not offer refunds.

    The bottom line is after over six months of thorough and careful analysis, we conclude that regardless of whether you follow the system or take the opposite side of the trade, your results cannot be reliably predicted simply because the data the VectorVest system relies on is inaccurate. At the end of the day, any serious analysis using their product is analogous to throwing darts at the Wall Street Journal stock tables. Between failure to account for stock splits, bad prints, and a multitude of programming errors within the system, most simulations you run are statistically unreliable because the data in the VectorVest system is inaccurate. Moreover, locating and/or attempting to filter out the bad data in the VectorVest system is excruciatingly painful because the program frequently encounters "divide by zero" errors or simply crashes. You have to have a tremendous amount of patience and a cabinet full of pain killers to use the VectorVest system for more than a few days.

    Don't waste your money or your time on VectorVest because in order to succeed in the market you MUST have reliable data. Telechart works well and is 1/2 the cost. If you spend the same amount of Telechart on a monthly basis you can upgrade to their gold service which offers far more services than VectorVest. Moreover, with VectorVest, they are constantly trying to upsell you. VectorVest is a marketing company first and foremost, and their culture is typical of companies who have one interest in mind---getting as much money out of you as they can.
     
    #10     May 5, 2009