Sorry for the long post. Ive tried to keep it as short and judgemental as pos.
first software identifies possible entry points by use of an apparently very complicated mathematical formulae. These entries are market out by green (long) and red (short) triangles. It provides entry points above and below these markers so that if it gets there your in the market. Essentially that's about the size of it. The problems that arise with the signals is knowing which one to take and which ones to disregard and the creator at 5D continues to experiment with various ways of filtering.
More problems arise with the lack of a sufficient money management system as the is not the same for each entry and in addition to this it is mainly a judgement call as you usually have to wait for the price of a given bar to close past a given point for an exit to be valid. Imagine the turmoil that this creates when the prices crash or fly past your exit trigger point and your waiting for a close past that point. What if that bar closes past by 5, 10, 15 or more points as it will often do so. The flip side is that when a spike up or down occurs past this trigger point your holding your breath waiting for the close of the bar and it will keep you in some of the trades longer but not necessarily for it to go into profit. Profit target are another grey area which are usually left to the user as a "you can take profit any time you want" statement. Their current strategy (which is posted on there web site along with screen shots) does not take into account a profit exit and relies on a reversal indicator (the last time I looked this was the case) which in itself is another issue as you are not always provided with a reversal signal. So you could be long with their system and watch the price fall trigger your stop if you have one placed... or you could watch it crash through the floor exit at a loss greater than you would probably like and then continue to watch the market fall, when you do eventually get a signal to enter short it is far to late into the move.
The software itself is not that good for the price you are paying in fact I do think its extortionate. You have a choice of 12 charts to trade with whether you want them or not so you are paying for a lot of things that the average trader will never trade with. I for one don't trade currencies or bonds or the US but you will still have to pay for those markets and the exchange fees. You also do not have any say on the time frame that you want to view. You get what you are given because that is what the optimisation is saying is the best time frame so that when you look back through the chart (and you only get the last 500 bars of data, nothing is collected or store on your machine) you only see the optimised version of events.
The charting functions are very clumsy and slow and are very limited to a half dozen functions i.e. a couple of different MA's Bol bands and the trend lines are a nightmare to use. Removing one or more of these is also a chore. Simplicity is not the order of the day with these "additional features".
The package itself is a bit of a joke as you can only view one chart at a time and when you want to view another chart the change over is not smooth and takes quite a few moments to load up very often there is contamination of data from one chart to another. For example you will have say dax data on the ftse chart which as you can imagine skews the view of the chart. Fixing the problem is simply one click but you will have to wait a long time for it to be resolved and by that time for day trading the trading opportunity is often gone and will have to wait for a pull back, if you get one. I have traded with the software and more importantly made money with the software using the entry signals but I have to say that I had my own methods of filtering the signal and my own money management and profit exits. Looking back it was a chore to do and I really attribute my success with first down to trading in-house with the software and learning the mechanics of the software which the average trader will not obviously have.
The signal generally I believe are often late into a move you could us a simple MA technique or sup&res to identify entries and to paraphrase what another member said elsewhere "entries are the easy bit it what you do after that that counts"
If you want to pay £995 per quarter for this software then so be it, but look at the options. You can get something like metastock real-time with all the trimmings for the same price and its yours to keep. sierra charts is very popular on this BB its about $40 per 6 months and a mytrack data feed is $20 for delayed everything (obviously exchange fee's for real time)
As for how to trade there is a wealth of information on this BB about entry's, stop exits, profit exits, money management, risk and reward. Not just the theory but how you can actually apply it to yourself and your trading style. There are a lot of people on this BB that are actually trading, myself included, full time. If you want answers ask questions you will always get an honest broad and judgemental answer this is the best community on the web and we are all here to help each other and exchange idea's