I guess someone has to point out some issues I used it for about 4 months and liked it. I especially liked the range of drawing tools. After 4 months I went back to SeirraChart ($7 per month and also works with your IB data feed). Why? 1) I dislike the way that ensign builds charts for the tick rate you are using only. This means that you have a file for 13 tick and one for 21 tick and one for 3 mins and so on. If you want to check if 14 tick would be better it has to create a new file. This used to mean waiting until you had the data but the download/refresh facility may make that much less inconvenient. 2) The espl indicator builder language is slow. very very slow. compared to easylanguage on TS or to the very fast compiled C dlls in Sierrachart. So I found that if I wanted to do something that Howard hadnt though of it wasnt very functional. and then finally I decided that the other line tools that Sierra disnt have were not worth the extra 32 dollars a month so I went back to Sierrachart But if I went off Sierra, I would happy try Ensign again.
Kiwi The only reason that I dont like sierra over ensign is that ensign now offers historical prices and back data with sierra and ib it is way to difficult especially if you miss data. I guess I have answered my original questions obout the reason hedge funds use it. As with any business over head costs effect the bottom line and so far with Ensign other then some charting quirks, I won't sacrafice quality at all and I won't have to be a friggin data expert to get historical charts.
Yeah, I've used it for several years. Even back when it was a DOS program. I like the back-testing function using alerts. It's pretty simple to figure out. I also like being able to share templates with other Ensign users. For example, here's an intraday scalping method I've been tinkering with, and Fridays results on the ES, and if anybody wants the template, I can just email it to them and vice versa if they have something interesting.
Samson, I think the reason why those pros you asked use it is due to its customizing abilites. A hedge fund, or any "pro" for that matter, could afford to use any TA software they choose, and would pick their favorite regardless of price. There are a few such as Bloomberg and CQG that really get pricey, but if you are making thousands per day, who cares. In my case, only a "real" TA software would do. With data its only a few hundred per month, less than one trade. 3rd party add ons (Sierra, Medved, etc) certainly work, but are too much hassle, or not robust enough. That is why they hardly cost anything.
Well it's been a week now with Ensign and I can tell you this... in my opinion it is the best charting package I have ever used so far and all for $39.99 a month (all in). I'm very impressed with everything right down to the live chat supp (its super easy and fast). Best trading decision I've made so far this year.... Good Trading to all.
Too much hassle? Only if you are lazy. Not robust enough? Yeah, right... Both Sierra and QT cost just about the same as Ensign when you add up the data costs, ect. I would like to know what hedge fund managers would be using Ensign when they can afford anything that is out there... Give us some names Samson! Even just one would do...
I agree completely, and I have used some of the biggest, baddest TA programs out there. Just for kicks, get this. When I first started out, data was very expensive, as was the software. I was using FutureSource, with a Sat dish (only method available). My monthly cost: $850! It was one of the only methods to get live futures data back then. Things have definitely improved!
I posted this on another thread but this is an Ensign template. With a clik of your mouse you too can have charts like these.