Hotspot FX question

[Beachie41]

Haven't used GTIS FX for sometime as it's useless without being able to filter the contributors. But logged onto cancel and saw that Hotspot FX retail is now available. Does this mean I can now filter the contributors or at least use Hotspot exclusively?? Or is it still a spiky mess?
cheers

[neo]

Beachie, you only can filter contributing banks in the market depth window.
However, the chart is generated by mixing all contributing banks. This makes the chart kinda useless at small timeframes. Thats why i cancelled my subscription last month. Right now im using one of the many free java forex charts.

It would be great to have a hotspot fx only forex feed.

Neo

[Beachie41]

Ok, thanks for that Neo. I'll cancel my account.
And to the Esignal management, when are you going to actually supply what your customers want & not what you think they want?
Let's face it, your charging $50/mth for useless data. In that light it's a rip off considering most FX MM's supply their data free to clients.
I'm now using a plugin which allows me to use a number of different brokers feeds to power my charting s/ware. All for free, and a damn sight better than what I'm paying for now.
FFS, you haven't even got an updated list of contributors going by this list http://www.esignalcentral.com/suppor...x2.htx?source=$(source)
A 3rd rate performance Esignal.

BTW, while I'm in such a generous mood, when are you also going to realize that quite a few of your customers ( dare say most outside the US that subscribe for futures or FX) don't care about US stocks etc. Why do you once again force subscribers to pay for data they have no need for. For me, all I want is FX, and maybe the minis. The rest you can lump. But, hey, you nickle 'n dime everything, so I guess I shan't hold my breath for you to actually give customers a choice that fits their requirements.

[JayF]

Thank you for your comments. I appreciate the opportunity to talk about the GTIS Forex feed that we provide. You have a few different points in your post, so I'll respond to each.

1) Combined Forex Feed Having Value
There is no doubt that having individual symbols for each contributing bank for each crossrate would be very useful to have for charting, however stating that there is no benefit to having a combined contributing bank feed is, in my opinion, short-sighted. Being able to see as a whole how nearly 200 banks are adjusting the rate at which they are willing to exchange currencies at is in and of itself a unique tool.

While some H/L range based technical indicators will not work as designed simply due to the large range of trading, other strategies using Elliot Wave, Support and Resistance or price patterns do certainly prove useful as a high or low reached from a different contributing bank certainly can impact the market as a whole, and may not be seen from a chart just looking at one contributor.



2) Why not develop feature XYZ?
This is a common question asked of any product development team. We receive a large amount of feature requests every day. Each request needs to be assessed not only from a demand standpoint, but from the cost side as well. This includes not only the development of the feature, but also the possible upkeep costs of supporting that feature. To be honest with you, we love recieving suggestions, and we wish we could implement every single one. From a business side however, it is simple not possible.

Speaking specifically to your request, creating approximately two hundred times more forex symbols is certainly not a light undertaking. Subsequently the storage and bandwidth also have to be taken into consideration. Likely in the future, we will include that enhancement to eSignal, however due to the factors mentioned above this will not be in the near-term.

3) Forex Bundling
Any of the eSignal packages are now allowed to add Forex to their accounts. This means you could have eSignal Basic (as low as $49/mo.) with the Forex Add-on ($50).

[Beachie41]

Thanks for responding....reply inline

Originally posted by JayF
1) Combined Forex Feed Having Value
There is no doubt that having individual symbols for each contributing bank for each crossrate would be very useful to have for charting, however stating that there is no benefit to having a combined contributing bank feed is, in my opinion, short-sighted. Being able to see as a whole how nearly 200 banks are adjusting the rate at which they are willing to exchange currencies at is in and of itself a unique tool.

I don't think you've ever seriously traded FX. There is no value at all IMO in what your saying. Your local MM's charts will show exactly what Esig does in relation to elliot etc. If Esig was 50 pips in diff then maybe so. But the problem is the shorter TF"s, where any strat that uses the high or low will be woefully out.
And tic charts? Forget it. Any live system that relies on signals from the shorter TF"S will also be fubared. I'ts been proven in real trading. To my loss.
And try backtesting on Esig data. Often a system will show a profit, but once tested on your MM's data it will show a loss. All because of the spikes on the data.

2)
Speaking specifically to your request, creating approximately two hundred times more forex symbols is certainly not a light undertaking. Subsequently the storage and bandwidth also have to be taken into consideration. Likely in the future, we will include that enhancement to eSignal, however due to the factors mentioned above this will not be in the near-term.

Surely you can at least offer Hotspot & FXCM as a seperate feed? That would be a start.

3) Forex Bundling
Any of the eSignal packages are now allowed to add Forex to their accounts. This means you could have eSignal Basic (as low as $49/mo.) with the Forex Add-on ($50). [/B]

You miss my point entirely. The "as low as 49/mth" is the kicker. That $49 is dead money to me. What do I get for $49? US stocks, which are of no benefit to an FX trader and a crippled charting package which has to be substituted with a decent alternative.
Allow me to pay $49/mth for my basic FX package, not as an addon If Esig then wants to nickle 'n dime me for the market depth, so be it.

[neo]

Originally posted by JayF

Speaking specifically to your request, creating approximately two hundred times more forex symbols is certainly not a light undertaking. Subsequently the storage and bandwidth also have to be taken into consideration. Likely in the future, we will include that enhancement to eSignal, however due to the factors mentioned above this will not be in the near-term.

Jay,
no need to add 200 forex symbol. Seperating HotspotFX would be enough for most people. The best would be offering HotspotFX as a different service for lets say 20bucks. So the folks that dont need GTIS can subscribe to Hotspot only. Just my 2cnts.

Rgds,
Neo

[Beachie41]

Please restore the post you deleted. There was nothing abusive or inappropriate in the post. It merely quoted one of your competitors ( and also an Esig partner with one of their charting packages) and what they thought of your FX data and linked to the URL so the veracity of my quote could be checked.
Or does freedom of speech no longer exist in the "Land of the free" & everything is subject to corporate censorship?

And how about confronting the problem instead of pretending it doesn't exist.
A novel thought for for sure!

[JayF]

neo,

Thanks for the suggestion. I agree that that would be a good place to start with this type of enhancement. I just passed that along to our Product Development Team to consider for a future release.

[JayF]

Beachie,

I believe I have answered your question on the value of the Combined GTIS Forex feed in my first post in this thread.

As far as your question about the pricing for eSignal and the Forex feed, the $49 per month for eSignal Basic is the monthly fee for the application. The $50 add-on fee for Forex is the equivelent to the exchange fee for having the Forex data.

If that pricing model doesn't meet your needs, we do also carry a value priced alternative in MarketCenter LIVE, which is $57.95 per month for quotes, charts and the Forex feed.

[Beachie41]

Originally posted by JayF
Beachie,


If that pricing model doesn't meet your needs, we do also carry a value priced alternative in MarketCenter LIVE, which is $57.95 per month for quotes, charts and the Forex feed.

Thanks Jay, never saw this other service available under my Account management.
2 questions though.
1) Does this utilize the same Forex feed I'm currently paying for? If so then I'm no better off. If not, who is supplying the data?
2)Does MarketLive use the same data manager as Esig, as I need to feed the data into my charting software.

As an aside, the point of my post re: $49 basic + $50 for GTIS is that I use none of the $49 features. I need only the FX part. What value is there to me in the basic $49?. It's dead money.
If eSignal would bundle FX as a standalone with single contrib selection for Hotspot/FXCM, market depth/news it would be a winner ( unless priced off the planet). It should also utilize current data manager so as not to break current charting feeds.
If this was available I'm sure you'd win new customers.
Esig *full* charting could be an addon.
The current Basic charting should be binned as an insult to TA.

[neo]

Originally posted by Beachie41

2)Does MarketLive use the same data manager as Esig, as I need to feed the data into my charting software.

I dont think so. MarketCenter Live is a java based Web app.

Originally posted by JayF

.... I just passed that along to our Product Development Team to consider for a future release.

Thanks!

Neo

[JayF]

.

Originally posted by Beachie41
1) Does this utilize the same Forex feed I'm currently paying for? If so then I'm no better off. If not, who is supplying the data?
2)Does MarketLive use the same data manager as Esig, as I need to feed the data into my charting software.

{3}As an aside, the point of my post re: $49 basic + $50 for GTIS is that I use none of the $49 features. I need only the FX part. What value is there to me in the basic $49?. ...

1) MarketCenter LIVE uses the same data source as eSignal, the GTIS Forex feed.
2) Neo is correct. As it is a Java-based application, it does not use the Data Manager, and it cannot send data to a 3rd party application.
3) The $49 part is for the eSignal application, which includes the Data Manager. It is, in essence, a general subscription base fee, while the forex fee is for that particular service. The best analogy I can make is if someone is subscribed to cable TV, then that person pays a base amount for the cable service. If that subscriber also wants a subscription channel like HBO, then they need to pay an additional fee for that. If, however, the only channel you watch is HBO, you still need to pay the cable company for the base + the HBO cost.

[atlas]

Hmmm...Kind of disappointed cannot see the single contributors (e.g. FXCM) on delayed feed.