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nasdaqtrader  
#1 Posted : Tuesday, June 18, 2013 4:43:11 AM(UTC)
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Dear MetaStock,

I have seen the post from Alex Henricks, regarding that Thomson reuters sold MetaStock to Innovative Market Anaylsis. What is the affect and down the road is this product going to disappear and are we going to be left behind without any trading platform. What is going to be in store for us traders that rely on MetaStock, also is the data feeds going to change? We would like to know if we will need to go and look for another charting softwrae company.

As alot of us users mentioned MetaStock 12 is a flop for us and you need to really upgrade the software to the standards of your competitors.

Please advise, currently I'm very disappointed on this news, my feeling is that MetaStock will not survive at all and in the future just disappear since alot competitors are far from MetaStock in technology and ther platforms.

Regards,

Regards, Frank Koenig Trade Like a Pro Trend is your Friend
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nasdaqtrader  
#2 Posted : Tuesday, June 18, 2013 4:46:51 AM(UTC)
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Also I would like to know the future of MetaStock, I have seen alot of the old users went away,and the forum is really not active with the registered users at all.
Regards, Frank Koenig Trade Like a Pro Trend is your Friend
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John S  
#3 Posted : Tuesday, June 18, 2013 11:31:49 AM(UTC)
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Frank,

I'll be honest with you Frank, this could not be better news for you as a customer. We will now be positioned to progress MetaStock like never before (at least since 1996 when Reuters bought us). We are now unchained from a large corporate culture and back to our innovative, entrepreneurial roots.

Below is a set of FAQ/talking points that we have distributed to our staff. This covers things very well I think

Innovative Market Analysis Divestiture FAQ’s

1) Why is MetaStock no longer a part of Thomson Reuters?

A. Thomson Reuters wants to focus more on the institutional customer and MetaStock is focused on the retail customer. To fully take advantage of what MetaStock can offer the self-directed trader, Innovative Market Analysis offered to purchase the MetaStock software line from Thomson Reuters.

2) How does this transition affect MetaStock customers?

A. Innovative Market Analysis will continue selling the award-winning MetaStock and MetaStock Pro charting software packages to self-directed traders worldwide. Day-to-day business and services Innovative Marketing Analysis offers its clients will remain the same including support, programming, and developing the software as well as management of customer accounts.

3) What is Innovative Market Analysis’ relationship with Thomson Reuters?

A. Innovative Market Analysis will maintain a solid working relationship with Thomson Reuters. Thomson Reuters DataLink and XENITH remain the recommended data feeds to power MetaStock and MetaStock Pro. On the institutional side, Thomson Reuters clients will still use MetaStock Pro functionality in its flagship desktop Thomson Reuters Eikon.

4) Will the MetaStock staff remain in place after the acquisition?

A. Yes. Innovative Market Analysis will retain all current MetaStock employees once the divestiture is complete.

5) Who is the owner of Innovative Market Analysis / What company owns Innovative Market Analysis?

A. Innovative Market Analysis is an independently owned company by former MetaStock President, Scott Brown.

6) Do I need to re-sign my agreements (exchange agreements, data agreements, subscription agreements, etc.)?

A. No, you do not need to re-sign any agreements. All agreements you signed are still valid and will carry over as part of the MetaStock purchase.

7) Will Reuters DataLink and MetaStock XENTIH continue to be the only data feeds that power MetaStock?

A. Yes. Thomson Reuters DataLink and XENITH remain the recommended data feeds to power MetaStock and MetaStock Pro.
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nasdaqtrader  
#4 Posted : Tuesday, June 18, 2013 11:49:41 AM(UTC)
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John,

Thank You, for your response as always. Best wishes on the transistion period. looking forward seeing new development and enhanceing MetaStock software. hopefully Metastock will revamp and upgrade the platform as I have mentioned in the past. MetaStock is my prime charting software and to hear this reliefs my concerns. My main concern was that eventually MetaStock may just disappear.

To my understanding now you and the team, will be able to make the changes and upgrades and bring the software up to the standards and surpass the competion without all the red tape in the big corporate world. Is there a time frame when some of the new changes will take into effect or still pending and working on closing the buy out deal.

Thank you again, best regards.

Regards, Frank Koenig Trade Like a Pro Trend is your Friend
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PTJim  
#5 Posted : Wednesday, June 19, 2013 10:34:15 AM(UTC)
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Well, John, as a MS user since 9.1 (stopped at v11 and got that only because I was forced into it by Win7), I'll remain hopeful with other users and keep an eye on the product, but the emphasis on retaining all the same people is discouraging news.

This is the same gang that "evolved" MetaStock into the archaic, dated, rigid product it's become in version 12? The same ones who decided to dump local data storage? The same ones who have ignored many documented user requests for improvement to keep up with the world beyond Windows 98? The same ones who haven't even implemented beyond primitive window handling and still lack useful support for multiple monitors? The same ones (rarely) patching up old, creaky code?

No cause for rejoicing just yet, but we'll see what happens. Still zero interest here in v12 or the data streams you're trying to ram down our throats.

It seems that whether it's a company or a product, things named MS tend to eventually alienate the customers. MetaStock finally and completely screwed the pooch with version 12 after years of stagnation and MicroSoft just got its butt kicked with the forthcoming Xbox One (now universally referred to as the "Xbone"). Both are losers and are killing the product. No, you don't talk about it, but we ALL know how "well" MetaStock 12 and upgrades are selling - that's why Thompson Reuters finally dumped it.

Remember, there are other options for us, but you have one last chance now for redemption. No more corporate gasbaggery; listen to and respect your customers.

Good luck,
Jim
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John S  
#6 Posted : Wednesday, June 19, 2013 12:26:48 PM(UTC)
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Jim,

It wasn't our gang that caused MetaStock to lose its luster; it was being servants to our parent company. It was a "Jump!...how high?" type environment we operated under. We are retaining the best of our relationship with Thomson Reuters, who by-the-way does what they do very well when it comes to the institutional clients. We have now been unshackled to focus on the retail market, which is where our strength lies.

Words are cheap I realize. But I'll believe you'll be pleasantly surprised. Not overnight. But give us a bit of time and you'll see great new stuff in MetaStock.
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retireewill  
#7 Posted : Wednesday, June 19, 2013 2:18:37 PM(UTC)
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John, those are encouraging words. And Jim, you told it like it is. I tried v12 but stayed with v11.
I don't know if innovations will do the trick, but if still shackled to Reuters and Cloud (internet connection required) my fingers are crossed.
Good luck to all of us...
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Laisze  
#8 Posted : Thursday, June 20, 2013 11:29:35 AM(UTC)
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Perhaps MetaStock clients will now come to see the v12 fiasco for what it really is - a stroke of genius from Mr John Slauson et al.

This was the master plan all along:

1) Cripple MetaStock v12 to the point it becomes practically useless;

2) Along with it, cripple most existing addons' compatibility (such as Fire);

3) Alienate the loyal MetaStock userbase to the point where they are willing to invest considerable time & effort into other platforms such as AmiBroker;

4) Alienate all loyal MetaStock resellers and data providers, who through their unquestionable effort and support through the years, have (against all odds) allowed an archaic DOS-based charting software to survive past the mid-90's;

5) Wait until MetaStock (and addons) sales crash down to zero;

6) Demonstrate to Reuters that they are now involved in a crippled business, and offer to buy it back for pennies.


Congratulations Messrs. Slauson, Brown, and all their clueless minions - "Expect great things" now has some relevance in this context.
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PTJim  
#9 Posted : Thursday, June 20, 2013 3:48:08 PM(UTC)
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John S wrote:
Words are cheap I realize. But I'll believe you'll be pleasantly surprised. Not overnight. But give us a bit of time and you'll see great new stuff in MetaStock.


Right. As I said, I'm hopeful and will keep an eye on the product's evolution from here. But aside from modernizing the structure and design, it's just as important to me to keep data-source flexibility. I'm one of those who will NOT subscribe to an EOD data source; that information is available to me from other sources and I'm happily using it with MS 9.1 and 11. My broker account supplies me free realtime quotes, but I don't daytrade so while that's interesting it's not critical.

A big part of this, to me, is having a stable and local (on my hard drive) access to my historical data, which is updated daily. None of this "you must be online to redownload data every time" nonsense.

Build back in support for existing MS datafiles in addition to providing subscriptions for those who want that. Now that you're cut loose at last from Thompson/Reuters, focus on selling the product, not the data. We'll find the data; that's no longer the business you're in, but feel free to work out a commission with data providers for users who wish to work through you.

I'll buy the product. I will NOT subscribe to data (especially not ephemeral online-only cloud data) and will either stay with what I have now or move on if that's the only option you present in the future. I use TradeSim, in which I have a considerable money/time investment, for method testing - I'd rather stick with MS 9.1 than give that up; it requires local MS data files. I want to spend my time learning to be a better trader, not seeking out replacements for tools which work for me that have been taken away.

Best wishes to you, the team and the MetaStock product line for future success.
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ikenga  
#10 Posted : Thursday, June 20, 2013 7:52:59 PM(UTC)
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Like others have pointed out MetaStock software needs drastic update as a matter of urgency. You must restore multiple data vendor support as well as enable multiple monitor support. Also introduce the capability for the software to support direct trade for those who need it. Making Thompson Reuters the only data vendor is a bad idea. Local data support must be restored as EOD users rarely need to be online for the most part. You guys must never assume that everyone is tethered to the internet at all times.

Version 12 is a disaster and need to be recalled.
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henry1224  
#11 Posted : Thursday, June 20, 2013 9:22:06 PM(UTC)
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What many users forget is that Metastock has the ability to use dll's to add functionality to the program. I'm still aware of the data issues and that there are issues with Windows 8. I just hope that the new management team realize the enormous opportunity that has been placed on their shoulders.

If the sales force from Scott Brown has their way, then all is lost! You can't keep rehashing the same old product. You have to keep up with the competition at least. You have to keep up with the OS upgrades! You have to offer new features with new releases. The lame RMO system is not a reason to upgrade! We want real issues corrected and real functionality included in the next version.

As for data, the new management team should develop their own data stream, or they should develop multiple vendors. They need to integrate trading from their charts with online brokerages.

Think how great it would be if you could access your brokers web site and use the Metastock package with the brokers data and make trades from the chart! In Real time!

Get a list of online brokers and make your program able to read their data. IE: Interactive brokers!

These are just a few suggestions, I hope that the new owners listen to what the users want!
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trendsca  
#12 Posted : Thursday, June 20, 2013 11:12:03 PM(UTC)
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I second Jim's request: bringing back local data support is a MUST. You must continue to support the MetaStock file format. I have a huge database of historical data in the then industry-standard MetaStock file format, and I am really [censored]ed that MS 12 has ditched this file format. Please bring it back, this is a deal breaker! And this should not be difficult for your programmers to do, just start from where MS 11 before it branched off to MS 12. What a bad move from MS 11 to MS 12!
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delta_fin  
#13 Posted : Saturday, June 22, 2013 2:28:01 PM(UTC)
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I'm actually in the minority that thinks Xenith adds a lot to my trading - it gives me a neat interface and the ability to work across economic data, fundamentals and prices - so for those of us that are intermarket folks - this is a great product.

That said, I couldn't agree more with the folks here who think local + third party data support is essential. It's frankly unconscionable to sell a product for $1295 which becomes COMPLETELY useless the minute you decide you don't want to use Xenith. I mean, what on earth did I pay the 1295 for? You can't even access the damn thing when you decide you don't want Xenith. That makes MS12 in and of itself Xenith's sidekick. You guys can do better than that.

On the product itself - MS12 has a solid base. But, I'd like to see a lot more done on the risk management side of things - other than the obvious (greater customization). Give us a neat monte carlo sim based money management tool - a bit more statistical/scientific basis to the way we can work with prices and you have a pretty excellent product.

As things stand, MS12 is dramatically overpriced and practically hardly useful. I hope an energetic team that's been set free from corporate red tape won't take an inordinate amount of time to start to deliver on some of this stuff.

One (silly) question. My MS12 gives me a Thomson Reuters logo when I open it up. Does that stay?

Lastly, I'd love to see you outline what you're looking to do and get some freedback from real users on your plans. You've deviated very far from what traders find useful - I'd hope that in the spirit of being a midsized, enterprising company - you'd consider it worth your time to see what we're looking for.

All the best.
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John S  
#14 Posted : Monday, June 24, 2013 8:19:29 AM(UTC)
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I don't think you are in the minority on your opinion about XENITH. It is wildly popular.

We have set up a "dream team" if you will of programmers. Between four of them there is a combined combined 65 years experience working with MetaStock and technical analysis software. I have 25 years (holy cow). We're delivering monthly service releases. We work using an agile method of product development. I believe good things are happening.

With regards to the Thomson Reuters logo on the opening splash screen, that will go away with the July service release along with all over instances of "Thomson Reuters" throughout the program.

I can't comment on future functionality. We operate in a competitive marketplace. But we've got our ear to the ground and I believe you'll be pleased with what you see coming out.
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