Should i Buy Falcon ?????

[Grules]

Hi,

I am new to this forum and hence would request seniors to guide me through with regards to the technical software i am looking for

I have seen people use Falcon in various companies and have myself used it for a while but not in detail. I dont know much about other technical softwares and i am new to the world of technical analysis.

My basic reason for buying falcon is i want to trade looking at the intraday ticks and volume , which is where the need of technicals end for me. I am not a strong beleiver of technicals for day trading though been of the view that it shows the trend on a medium to longer term basis. I am thinking of taking over day trading as a full time profession (only intraday swings) and i might start it in coming days once i quit my existing job.

Since falcon is costing me 49k for NSE cash and F&O i would request the users to help me take the decision . Once again the motive for going in favour of falcon is

1)Speed
2) Intraday second by second ticks
3) Movers/ Gainers/ Losers
4) Accuracy
5) Only for day trading.


I am looking forward to a few replies from you all. Thanks in advance for all the support and info shared on the forum.

 

[ketanss]

Dear Grules,

Why are you looking to buy software when it comes free along with the broker!!
The one I know for sure is Sharekhan Trade Tiger which is what I use.
Apart from this I believe Indiabulls and some other brokers also offers TA software.
Secondly if you are looking for intraday ticks and volume only, then free information is available at Yahoo and Google also.

If you are not a believer of TA for day trading,as mentioned by yourself, then why would you to buy a Software for TA and day trading?

 

[Grules]

I am not a believer of Technical Analysis but i am definately taking a shot at it by reading books and other stuff , + i do agree it helps in looking at the medium term trend.

I tried google finance but its not real time when it comes to ticks by seconds and volume by seconds (I can see index but not futures , + its charting has a lag when it gets plotted on the screen). I have not seen what other brokers provide. My broker provides a real time tick by tick chart but i guess there is some difference in speed and data wherein falcon has a edge over others.

I will check the other two suggested by you but are there any other softwares which are reliable for speed and provide realtime gainers /losers.

I thought 49k is a bit too on the expensive side so i thought may be there are other alternatives too which existing users might be looking at or are worth recommending to new users.

 

[TraderDude]

I am not a believer of Technical Analysis but i am definately taking a shot at it by reading books and other stuff , + i do agree it helps in looking at the medium term trend.

I tried google finance but its not real time when it comes to ticks by seconds and volume by seconds (I can see index but not futures , + its charting has a lag when it gets plotted on the screen). I have not seen what other brokers provide. My broker provides a real time tick by tick chart but i guess there is some difference in speed and data wherein falcon has a edge over others.

I will check the other two suggested by you but are there any other softwares which are reliable for speed and provide realtime gainers /losers.

I thought 49k is a bit too on the expensive side so i thought may be there are other alternatives too which existing users might be looking at or are worth recommending to new users.

There are many free alternatives...Don't waste your money. Instead put it in your trading account.

 

[pakatil]

You can try this and it is free.

http://stocklive.in/

I have never used this. I have Investbulls IBC subscription. 600 Rs PM.

And fits my needs.

Cheers

 

[Grules]

well i have downloaded the exe but its not getting executed. i have sent a mail to these guys , seems like everyone is on amibroker

 

[TraderDude]

Using Amibroker does not make you a better trader.

There are better trading softwares than Amibroker.

Trading terminal provided by Religare/Sharekhan is better than Amibroker and is sufficient for trading.

You don't have to spend money on these expensive software , use any free alternatives..

 

[Avii]

As per my experience :

Falcon is not worth at all for any kind of technical analysis because of failure of very basic concept of trend lines (that changes when you zoom in/out the chart !!!)

from last 8 months I am waiting for their reply on email but so far no reply at all.....even on phone they are saying they are working ......may be they'll provide solution when my yearly subscription will get expired !!!)

See full mail chain from March 2013 ....till today ...... no reply

couple of time i asked for technical help ..and silently some of them they fixed and no credit at all.

there is no full description of their all technical indicators or signal !!

Even I doubt that using my study with signal/indicators .. somehow partially they have created paid Intraday/positional study which of course no use as they are giving 40% annual return !!! ...no previous data/testset to veryify .....and annual ...lol....... U would also verify after a year of purchase !!!

ok see emails below ... and see what I asked for and what they replied (NONE

Signal help .........

FROM: Sun, Mar 3, 2013 at 2:42 PM
To: [email protected]
Hi,

10- 15 days back I talked to Ms. Poonam regarding some custom signal that i would like to create in Falcon7.
however she has not given any solution so far.

Please provide your support ASAP.

Thanks,
[USER]

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FROM: Wed, Mar 6, 2013 at 4:16 PM
To: [email protected]
is there anybody in support ?
[USER]

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FROM: Sun, Jun 16, 2013 at 12:50 PM
To: [email protected]
it seems I made a blunder mistake by purchasing this software !! ..No proper support .... taking too much time for resolve any query.

This time I have few query , will check when you resolve these and your support quality.

1.) In a given time frame (say daily chart) for the previous data, I want to know the "time" when it made day high and low. By clicking on bar it shows the value of high and low but not time for high/low.
( So far no solution , this one i asked in first week of my purchase!!)

2.) For replay data , there is no option to select number of records to read ( as of now there is scroll bar , that you can drag but it takes time to select particular number of your choice e.g . you want to select 133 records )

3.) For replay data , every time it ask for restart Falcon once it finishes one time replay. to use 'replay" again, one has to restart Falcon every time !!

4) in GANN FAN tool , according to theory 1*1 should always point to 45 degree angle but here you can select high and low and it's making that line as 1*1 , which is totally wrong according to theory. There should be up FAN and down FAN. 1*1 should always be 45 degree at any given point.

5.) For 45 degree up tool : This line is changing when you zoom in/out the chart, where practically it should be constant to X-axis (time) as 45 degree, so making analysis wrong.

6.) For Oscillator indicators : there is no "signal" option is "display" column , it would be good if you include that too , as of now it shows in different subgraph as red/green line for any change. (red/green point can be taken as signal on price chart) e.g . in "Awesome" Osc.


7.) You are not providing regular update to main program, when there is any issue only then you are providing !!


please call me for further clarification

Thanks,
[USER]

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FROM: Wed, Aug 14, 2013 at 8:55 AM
To: [email protected]
So far no update on previous queries !!

Add one more ...

Few days back I talked to your Mumbai support regarding some flaw in your falcon software that's very basic and most important and directly affect technical analysis....as it is related to "TrendLines'. I don't how many clients you have i doubt on that !

In any time frame say 10 min tf , you have drawn any trendline ..then say it show some target at price line "v1" or 9000 (any value)
THEN
if you zoom in/out same chart ,same tf , surprisingly now trendline target on price vertical line has also changed say "v2" or 9200 !!

which is totally wrong and misleading ...... tell me which zoom in/out should be considered as default one.

I have shown live to one of your executive but so far no reply ?? !!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have given so many useful info about your software but no support at all and this flaw is base of your software and this time I'll post all my queries and reply from your side to internet !!

Thanks,

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FROM: Sat, Nov 23, 2013 at 1:19 PM
To: [email protected]
Hi,

Just now spoke to Mr. Shankar ( Mumbai) regarding same problems however seems no solution as of now . So waiting for Monday as per Mr. Shankar.

- [USER]


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FROM: Fri, Dec 13, 2013 at 10:12 AM
To: [email protected]
Hi,

Any update on the problems that I discussed with Mr. Shankar? It seems you'll provide solution when my subscription will get expire.
For last 8 months I am waiting for SUPPORT !!!!!!!!!!!!!!!!!!!

Thanks,
[USER]

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FROM: Mon, Dec 16, 2013 at 9:27 AM
To: [email protected]
is there anybody care to reply ?????????? I call up support number and they said they'll reply soon but still no reply ????


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