Bloomberg Terminal

[Doomberg]

I'll have more time for trading in the New Year and i'm looking for the best option on getting up to date news etc. Currently i just have the times of any important news releases that may effect the markets i trade and set alarms so i know to be out of the market at these time. What would a Bloomberg terminal offer to a day trader, and what benefits would it have?

 

[new_trader]

You will never be successful at trading until you learn how to judge the market by its own action.

THE END.

 

[wackypete2]

I'll have more time for trading in the New Year and i'm looking for the best option on getting up to date news etc. Currently i just have the times of any important news releases that may effect the markets i trade and set alarms so i know to be out of the market at these time. What would a Bloomberg terminal offer to a day trader, and what benefits would it have?

Throwing my 2 cents in here...

I have never used any instant, up-to-the microsecond, news services. The free delayed ones and market/trader commentary sites are fine. If I was specifically trading the news event spikes then maybe I could have some use for them. As it is now I just wait for the news release, whatever it may be, and watch what happens. Who cares if the news is good or bad. (I never can tell anyway). I will already have a plan on what to do if certain scenarios take place. If none of those scenarios play out, then no trade and I move on. The "no trade" is important. You MUST NOT trade just because you feel the need to.

Peter

 

[Doomberg]

Sure that is the main part of it but thats like saying a atlantic cod fisherman should use a shoelace with a hook to catch cod. When it would be better to have a modern day fishing vessel. I'm content with my trading skills, the question was if Bloomberg would have any extra benefits from having it live throughout the trading day?

Surely some Day Traders must use it on here?

 

[Jerry Westerby]

bbg is good for the following things;

the messenger
fast data, provided you are trading from somewhere with the speed to make a difference (like not at home)
pricing
research, like co integration of Baltic Dry and Trafigura

none of these are any use to you. Oh, and its ~$5,400 per qtr for 2 years.

 

[Doomberg]

Throwing my 2 cents in here...

I have never used any instant, up-to-the microsecond, news services. The free delayed ones and market/trader commentary sites are fine. If I was specifically trading the news event spikes then maybe I could have some use for them. As it is now I just wait for the news release, whatever it may be, and watch what happens. Who cares if the news is good or bad. (I never can tell anyway). I will already have a plan on what to do if certain scenarios take place. If none of those scenarios play out, then no trade and I move on. The "no trade" is important. You MUST NOT trade just because you feel the need to.

Peter

This is my issue, like my thread the other day "one more trade before bed" and ended up losing my days work... this needs to be stamped out, and yeah where do you use for the news times?

 

[Doomberg]

bbg is good for the following things;

the messenger
fast data, provided you are trading from somewhere with the speed to make a difference (like not at home)
pricing
research, like co integration of Baltic Dry and Trafigura

none of these are any use to you. Oh, and its ~$5,400 per qtr for 2 years.

You kidding me? thats $1800pcm which would not make sense for me at my at the moment tbh

Wasn't there a post on here from Bloomberg direct offering a free quarter?

And lol it's ironic that my name Doomberg is actually a spin off of Bloomgerg because of the occasional giving info that doesn't help... A few times on the online news station i got caught out by advice that they kind of gave, so i do all my own research now but i do think that a live news feature could have benefits

 

[Jerry Westerby]

if you want, get a real time squawk. about £200 - £300 per month, depending on which you use. Some brokers have deals with providers to get discounts.

 

[Masquerade]

You're not going to pay for bloomberg so it's a bit pointless asking. You're better off asking for squawk services/other news services that people can recommend.

 

[VielGeld]

My Uni has a couple Bloombergs in their trading room.

Imo, useless piece of ugly-looking software. It's got its uses, but I doubt retail should care much for it. It's much more of an institutional tool.

To boot, it's also $1800/month. Not worth it at all.

 

[isatrader]

I've found using Twitter and Stocktwits to see the rumours, hype, chat etc really useful as if anything market moving comes out people like ZeroHedge, RANsquark etc are all over it in seconds. Various influential people even seem to make up their own rumors which move the markets sometimes. Social media is really adding to the volatility imo, but is free unlike Bloomberg Terminal.

 

[Jerry Westerby]

How presently do you determine if data is positive or negative for a particular asset class?

(read between the lines)

 

[Masquerade]

How presently do you determine if data is positive or negative for a particular asset class?

(read between the lines)

You either stare at a big red number or a green number?

 

[Jerry Westerby]

You either stare at a big red number or a green number?

no.

you would wait until the price of what you were trading went up or down.

If you can't either a) jump on the initial figure and get good fills (which, if you can, it's worth the money), or b) interpret the whole data (not just the headline figure) faster than wall street...

...getting the data faster than the market is a waste of money, because you'd have to wait to see how the market reacted before knowing what to do.

 

[Doomberg]

I've found using Twitter and Stocktwits to see the rumours, hype, chat etc really useful as if anything market moving comes out people like ZeroHedge, RANsquark etc are all over it in seconds. Various influential people even seem to make up their own rumors which move the markets sometimes. Social media is really adding to the volatility imo, but is free unlike Bloomberg Terminal.

I may even join twitter for this, could you do me a big favor and give me the names of the best ones to watch are? Thanks

 

[Masquerade]

no.

you would wait until the price of what you were trading went up or down.

You've never seen bad data come out, the market rallies and then about 10 minutes later it dumps? That's a dangerous game to play.

Doomberg: Zero Hedge+ransquawk should be fine. Try forexlive too.

 

[Jerry Westerby]

You've never seen bad data come out, the market rallies and then about 10 minutes later it dumps? That's a dangerous game to play.

Doomberg: Zero Hedge might be worth checking out too.

oh, maybe i misunderstood you. you were talking about the price being red or green, not the data figure - right?

anyhow, my point still stands. unless you can react and execute faster than others (which is not all gobbled up by computers, believe it or not), or assimilate the half dozen other datapoints included in the release and what it means for your product faster than the market as a whole, theres no point.

 

[Jerry Westerby]

...

Doomberg: Zero Hedge+ransquawk should be fine. Try forexlive too.

zerohedge is good for... well, boredom. Ransquawk change their analysts every 3 months and read out headlines they don't understand (Matthew Cheung is v. good, the rest are average at best), FirstCall are better IMO, they have been around the block once or twice before. The difference is remarkable.

ForexLive, I don't know.

 

[Masquerade]

oh, maybe i misunderstood you. you were talking about the price being red or green, not the data figure - right?

I was actually referring to the profit & loss initially. I was being humourous (or attempting to)

 

[Jerry Westerby]

but, just FYI, the funniest fing i ever herd on a squawk was from ransquawk - "some oil refinery in houston has had a flange blowout...... once again, that's a "Flange Blowout""... LOL FLANGE BLOWOUT