Review by G.C. California USA, uploaded November 28th, 2009.
Covers version 10.5 charting, data and Advanced GET
I already use another charting package that supplies it’s own data so had no real need of the eSignal data, however, I had tried the Advanced GET program years ago before it became part of the eSignal product range. At the time I had been learning Elliott wave analysis with some success, and while I liked the Advanced GET program, I wasn’t able to take enough advantage of it at the time over and above what I could already do manually to justify the high continuing cost of the software.
These days I have developed my own successful momentum trading strategy, and when I found myself browsing some information on Advanced GET as now offered by eSignal, I rationalized to myself that having a backup set of charts and data on a spare computer I already had was worthwhile. I also liked the thought of having another system to confirm a reason to stay in trades I was already taking, for a longer period than I was currently staying in them. Of course the plan was to thus make more profit on those trades than the software cost. One single successful trade on this basis “could” pay the up front $2,000 for the software upgrade (discounted since I was an existing owner from years ago). The current cost for new users is around $3,000 although retail is listed as $4,000 I was told a user only needs to attend a seminar to get the better deal.
The above price does include a user manual and 3 months access to a comprehensive tutorial/training section on the eSignal site that would provide most users with enough information to become proficient with the software, although my opinion (and experience) is that a few years of trading experience make a huge difference in having the understanding required to achieve significant results with Advanced GET.
Since I already had all the charts and data I required with my other charting package, I was pleased to find I could get “on demand” data (manually updated) for the market for just $24.95/month and the Live streaming emini data I really wanted for a total of $44.95/month. The exchange fees would be fully rebated by the Broker (several choices) provided I login to the account on a regular basis.
I was able to download the eSignal program for free, and paid just $1 for a 30 day trial of the data to make sure I could get it all set up and be happy.
The download and setup went smoothly and I was able to add the Broker trading plugin without much trouble. I then had to spend some time to read up on how eSignal operates as all chart packages store charts, data, templates etc differently.
Before long I had a basic layout as I like it with a set of charts from 1 minute to 1 day, and two Volume bar based charts including basic indicators, all stored as a layout. The charts were clear, and there is a large assortment of drawing tools and indicators.
Everything looked fine while I was setting all this up, but when the regular market session opened the next morning, the minute based charts all worked perfectly, however the Volume charts would not load any data, let alone update in real time. I made a call to support and was told by the person that they were experiencing the same issue when they logged in to my account, so they opened a support ticket and told me the technical guys would fix it.
While that issue was being resolved I placed a trade using the Broker plugin, based on a signal from my other chart package, and found I could not stop a confirmation window popping up each time I tried to trade. Again I phoned support, but this time I was told it was not possible to bypass the confirmation window using the Broker plugin. This meant that I could not place trades with just one click as advertised, and was a REAL issue for a trader with a scalping system. I was disappointed since this was a deal breaker for trading with this platform.
I must say, except for the confirmation issue, I did like the broker trading plugin as it was nicely configurable and relatively compact. I wish my current Broker would upgrade their trade entry platform to this style.
While I gave that some thought, as a couple of days had gone by since I opened the support ticket about the Volume bar chart data, I again phoned support to follow up when I could start using the Volume charts. They had no answer, but said they were still working on the issue.
A long story short, 10 Days after my first support call I still did not have a working trading platform as advertised. That can only be described as a failure. Together with the issue concerning not being able to place 1 click trades, I made the decision that eSignal was not suitable for my use and cancelled my trial and the future automatic billing that would have occurred had I not cancelled. This also meant that I did not proceed with the $2,000 purchase of Advanced GET, so eSignals’ technical issues set them back some profit this year.
This review does not attempt to cover all the features available in the eSignal charting software.