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torero

Ensign with FXCM data feed

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Does anyone have experience he/she can share on using this software with forex data feed? I'm in the middle of finding a second source of data feed and charting in case TS goes down. Or if you have experience with Ensign only, please provide feedback as well. Much appreciated.

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Does anyone have experience he/she can share on using this software with forex data feed? I'm in the middle of finding a second source of data feed and charting in case TS goes down. Or if you have experience with Ensign only, please provide feedback as well. Much appreciated.

 

Hi Torero,

 

Why don't you try this link, it is from prorealtime.com and it's very reliable,free and a good backup datafeed in case the main one fails.

 

http://www.cbfx.com/charts/itfinance.asp

 

I have been using this for the last 2 years.

 

Regards

 

Szymon

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Does anyone have experience he/she can share on using this software with forex data feed? I'm in the middle of finding a second source of data feed and charting in case TS goes down. Or if you have experience with Ensign only, please provide feedback as well. Much appreciated.

 

Ensign with the FXCM data feed works fine. Smooth with good historical data. All currencies crosses I can think of are available. All chart types are available. I.e. Range bars, Volume bars, Time charts, Tick Charts.

 

I have used Ensign for a few years now. I have a friend who has used it for over 10 years. I am not affiliated with them nor know the creators personally.

 

Howard (the creator) is a great guy, and available to answer emails and the phone.

 

It is VERY rare to be able to contact the programmer of your software when you have a problem on the phone.

 

These guys are the real deal. Updates every day, regular tutorials in the chat sessions, very flexible programming language (the "DYO" and ESPL language) and very low CPU usage, interfaces with a wide range of data feeds.

 

I have used both Esignal and CQG. Without doubt, Ensign IS more powerful than both of them.

 

I have workspaces with 20 + symbols (charts), custom studies, etc. If you are after sophisticated and flexible charting, then it's Ensign.

 

If you have specific questions feel free to send me a PM.

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Sure thanks for the detailed feedback. I had just signed up last week and so far, I'm very positive. I haven't used extensively just yet, just setting up things I had on TS. But so far I've noticed the feed is actually more accurate than TS, despite it being from FXCM. As a data feed it's very good as a broker, it's another nasty story.

 

I shopped around looking for tick charts, it came down to RT Investor and Ensign. I ruled out eSignal because they are expensive when I only wanted forex quotes (it's premium). Ensign price was reasonable and support is actually very good, has its own chat room for support. RT Investor was a bit complicated with their data feed partners.

 

In the end, I got it down to $39/month vs. $99/month, can't beat that when everything I need is the same from both. I plan to get some of the codes I did on TS and recode them into Ensign. The best part is the videos to get to know the software instead of manuals of text. Great idea!

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Looks like I might staying with this platform after all. FXCM has volume on forex similar to eSignal. Double-checked with PP's charts and seems the same! Cool!

 

Just a heads up with Ensign, I believe for FXCM data it plots the mid point between bid and ask on the chart. It seems most software does it differently.

 

With the volume, remember that it's the change in ticks, not "real" forex volume. I don't know of any retail brokers who have real (reliable) volume for the forex markets.

 

SMW

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Torero;

 

I am a big fan of this software. I love to go to dacharts and see all the charts posted by Ensign users. Most of them have too much stuff on them for my tastes (indicators) but they are cool to look at. I like MetaStock because the programming language is so easy. I would rather learn how to trade than learn how to program software. Let me know what think about the programming features the software has.

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I double-checked the volume, it's almost exactly as PP's eSignal. Also, I saw the change in the tick, volume jumps 10 to 20 then 5 to whatever on each of the tick change so might be different than what I imagine. Also, I checked the last price, it's about 1-2 pips off from MBTrading quotes, much better than what I see with TS quotes, freaking 3-4 off (Gain Capital feed I believe).

 

PP, I don't plan on doing too much programming, just enough to port over some codes I have from TS to Ensign. I trade with bare essentials but they are simple codes anyway. So far, I'm happy with Ensign.

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I double-checked the volume, it's almost exactly as PP's eSignal. Also, I saw the change in the tick, volume jumps 10 to 20 then 5 to whatever on each of the tick change so might be different than what I imagine. Also, I checked the last price, it's about 1-2 pips off from MBTrading quotes, much better than what I see with TS quotes, freaking 3-4 off (Gain Capital feed I believe).

 

There is NO volume for forex since it's not traded on an exchange. Even the volume of the forex futures that are traded on the CME is irrelevant since you don't get all the volume, just the volume traded in the futures, which is a very small portion of overall forex volume.

 

Don't get me even started with FXCM:crap:

No professional trader would trade spot forex through any of these retail brokers, including MBTrading, which is the best of those (FXCM is the worst, btw). If you really want to trade forex, trade the forex futures, unless you won't to get fucked by your broker.

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There is NO volume for forex since it's not traded on an exchange. Even the volume of the forex futures that are traded on the CME is irrelevant since you don't get all the volume, just the volume traded in the futures, which is a very small portion of overall forex volume.

 

Actually, you are able to obtain spot/forward FX volume. The reality is it's irrelevant for the majority of traders, let alone retail traders.

 

EBS (who is now owned by ICAP) is the dominant force for the major currency pairs, followed by Reuters D2.

 

There are always big numbers thrown around with regards to FX liquidity, however anyone who actually TRADES the spot will tell you their is a big difference between total liquidity and accessible liquidity.

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I have used Ensign for several years now, and have been relying on the FXCM as my data source for Ensign charting for perhaps six months. In general, the combination is very stable and reliable (and if you're already plunking down $40/month for Ensign, it's free!), but you should be aware of a few anomalies in terms of data availability.

 

Obviously, this data is made available on FXCM's schedule, which it turns out is different (and slightly more limited) than the data provided from other sources. For example, FXCM data cuts off at 4:00 pm EST on Fridays, compared to a market close of 5:00 pm on the FX futures markets and some other spot FX brokers such as OANDA. The data flow only resumes at 12:01 am EST Monday morning, compared to 6:00 pm Sunday night for futures and as early as 1:00 pm Sunday afternoon for OANDA (just two other sources I have experience with).

 

On major holidays (I noticed this over Christmas and New Year's, but there may be other examples as well), FXCM will stop its data feed altogether, so unless you have alternatives, you're forced to take the day off too. That may not always be a bad thing, but it's nice to have alternatives.

 

Obviously, these quirks are going to leave you with some "gaps" in your data. If you trade on the basis of price action and pay attention to support and resistance areas, this means that you'll have a few blind spots. You can compensate for these blind spots, of course, by referring to other data sources, but that data will remain outside of the charting package.

 

Just a couple of things to consider if you are evaluating this combination. These limitations may not affect your style of trading at all. Personally, I consider all this to be a disadvantage, but again, if you are using Ensign and like that charting package, you can't beat the price of FXCM as a data source.

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I agree with Cowboy, I've noticed the feed was quite reliable in high volatility period (last NFP and interest rate news). Please don't take as FXCM brokerage package, quotes and feeds only (I placed a rating for these guys on another part of the forum). I have a second feed as back just in case, but FXCM seems more reliable so far.

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There is NO volume for forex since it's not traded on an exchange. Even the volume of the forex futures that are traded on the CME is irrelevant since you don't get all the volume, just the volume traded in the futures, which is a very small portion of overall forex volume.

 

Don't get me even started with FXCM:crap:

No professional trader would trade spot forex through any of these retail brokers, including MBTrading, which is the best of those (FXCM is the worst, btw). If you really want to trade forex, trade the forex futures, unless you won't to get fucked by your broker.

 

I thought MB gave direct access to most of the interbank networks and you just pay a regular commission?

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It's true, they make money from commissions and not from spread rigging. I think he AgeKay meant the professionals go for institutional category platforms. There are beginning to have some decent retail forex brokers out there. I think exchange-based traders are still uncomfortable with trading forex markets.

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