Reliable Falcon is it worth it

#1
guys i am seriously considering taking Reliable Falcon charting software. pls give advice or reviews on how good the software is and if anyone is using it, wat r its plus and minus pts.
 

sumosanammain

Well-Known Member
#2
guys i am seriously considering taking Reliable Falcon charting software. pls give advice or reviews on how good the software is and if anyone is using it, wat r its plus and minus pts.
Reliability as for fast and accurate.... 100 %
Programmability 0%

You would be better off with amibroker with esignal data feed, or if you dont need super fast data and are ready to accept say, 1 minute delayed data, then there is amibroker with many software, like TDI, etc

Other than lack of programming signals in falcon, its good.

If you want to develop your own trading system, its useless
 

sumosanammain

Well-Known Member
#4
thnx that was very helpful but wat is TDI is there any dealer for amibroker in mumbai
:)
Most people on tis forum are using the pirated version of Amibroker. Though the official versikon costs about 15000 odd rs. And TDI is a software that pulls data from Indiabulls, yahoo to amibroker to create the charts.

Do let me know how you intend to trade, and I might be able to suggest a suitable setup for you.
 
#5
I've been using Falcon for the past few months, which is when i started out, more out of a lack of awareness of any other alternatives than anything else.

So far, it has worked out okay. Nothing great. But not too bad.

I like that it has a Pattern Search feature. Which can search in real time the stocks that match a given criteria. I wanted to ask if this feature is available if you use Amibroker with an esignal feed?

Other than that the other good features are Tick Level data, Action watch window (which keeps updating with stocks that are making new highs, new lows, etc), you can apply indicators on intra day time frames (1,3,5,15,30 and 60 minutes); The price alert feature is fairly reliable, and can give you alerts when a specific price on any instrument shows up in real time.

However, you cannot run your own trading system which will give you buy and sell signals. You cannot perform backtesting, or portfolio optimization. And there are no alerts based on drawing objects placed on the chart.

I wanted to ask the other users here, if the drawbacks mentioned above can be avoided by using some other combination of software and feed provider?

Lastly, these features and drawbacks are for the Falcon version before Falcon 7. As per my knowledge, Falcon 7 has been launched in Mumbai, but they are yet to roll it out in other cities, though they plan to do it within this month.
 

kaly422000

Well-Known Member
#7
before go for for a costly one try better with amibroker. even trial version of ami can take realtime data effectively , ok u have to backfill everytime when u start everytime. may be i think trial version of ami even better than registered one as it doesnt save data so may be no data corrupt problem.
i am using it with manshi rt and data source is indiainfoline ttadvance.
if u can aquire good afl for buy and sell signal or design of ur own, ami can do magic but exploration require registered version and some time to aqure skill to oparate amibroker.
and indiafoline data capture give almost zero delayed data . so chek it
 
#8
Hi,as you looking for a user friendly software with back testing try using Spider IrisPlus,a complete new verison of their original software Spider Iris.If you are looking for complete Live and EOD data for Equity and Derivatives with backtesting features SpiderIrisPlus is the best Software.

and they have added the MoneyMnagement concept to the strategy testing feature.

Try it out.
Hi Rakesh,

What is the cost of Spider Iris Plus.

I hear there is a delay of 10 sec delay in the data for F& O. Is it true?

At present I am using basic version of Iris.Thanks and Regards.

Dennis
 
#10
Yes i think Falocn7 is an absolutely a must tool required for trading in Indian stock and commodity markets. The data as mentioned by sumosanammain is fast and accurate. Also it is tick by tick i mean compared to others it gives 10 ticks against one tick of say iris. This feature itself is so important for traders like you and me. However i don't agree with sumosanammain about programmable feature.It has hordes of functions in expression builder which one can program very easily. Also unlike other software function like Barno makes any strategy being tested across every bar thus there is no need to write a separate loop.Also it has more than 203 indicators and conditions.
Try a Demo and decide for yourself to have look at these features in Falcon7( new version) and features mentioned by tradesmyth above which now even have more flexibility.
 

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