So I’ve been using MT4 for the past 1.5 years as well as some broker specific web platforms and I’m happy with this approach but I wanted to expand my armoury and started to look at autochartist and esignal. Can anyone who uses these please briefly review. Autochartist is available free if you open live accounts with some brokers, I understand there is a monthly cost with esignal.
Thanks
Hi, I have no experience of the other two, but I have used eSignal since I started out. There is a monthly cost - they quote in USD but it comes out to just under GBP100 pcm. That is obviously a fair bit compared with free packages, but I am full time and figure that it is not bad as basically the only cost of trading.
I started with eSignal as it was recommended to me when I first started out, and I have stuck with it as I have been so happy with it. The charting software is very flexible, all the indicators I have ever heard of come bundled in with it, the charts are fully customizable (sp!) - I have custom colours, lines, backgrounds etc. I have multiple timeframes up on the same screen at the same time (four in my case, but it will handle more, I don’t know if there is a limit) for over 20 currency pairs. I draw lines on one chart within one timeframe and can set it to save that same line onto all the other timeframes, including when I log off, which I find very helpful. I have some very long-term S&R lines on from the Monthly chart, and can track those through on the small timeframes.
I used the helpdesk a fair bit early on (user error rather than platform error lol) and they were always helpful, with quick turnaround. I have always felt that perhaps they deal with clients well as we are worth money to them - at the end of the day I am worth over a grand a year to them, so am worth keeping happy else I could switch to one of the freebie competitors.
As I say, I have never used another package, so perhaps all of this is available on all platforms, but I have genuinely never had any negative issues, and like the fact that the system is so flexible. I know other people who use the same platform, and in some cases our charts look really quite different.
I pay automatically each month from my trading-linked bank account, so there is no admin.
So as you can tell, I am a fan! I do feel that it helps my analysis a great deal, so I would not want to move to a cheaper system and risk losing some trading performance, when one trade covers the eSignal fee. I treat this as a career, so was conceptually happy to use a pay service as long as it gave me an edge.
I have a couple of other businesses which earn less yet have much higher running costs.
I think that there are several other reviews on reviewpips.com, which you might find helpful. Basically, I would highly recommend eSignal, as long as the cost makes sense when compared with the size of your account/trading income. Hope you find this helpful.
ST
For a trader, if you want the package you want, then go for it, it’s a small price to pay for something you like, but Metatrader covers what you need, using esignal will not improve your profits or help you trade better, but if you like it go for it.
Thanks for the feedback. Has anyone had any good / bad experiences with autochartist?