Bloomberg Terminal

[ukdaytrader]

For those that carried out my earlier tip you should be up a bit, probably not enough to cover the commission, I put these on a few days ago so am in the money a little bit. !

 

[gooseman]

you must be one big trader.


when you say bloomberg moved the S&P are yoou talking about the fibo retracement on the log chart? if so i think bloomberg and every other TA analyst on the planet saw that.

 

[Skill Leverage]

Skills mate - a £80 margin would not cover the trades I made on the 6th, it wouldn't have even covered the commission.........was it you that said these maths wasn't needed for trading ?

You said it, not me. Oh sorry, it was a 'notional' £80, that you had to add a few zeros onto to get the correct figure, yes?

Plop.

£80 wouldn't have even covered the commission? That's good news, because I know traders who can spend close enough to 50 times that much on commission per day, who still couldn't justify the expense of a Bloomberg Terminal.

 

[ukdaytrader]

Perhaps bloomberg guys understand the Technical Analysis a lot more, but you certainly get a good feel about whats going on and what the general feeling in is in the market.

The reason I need the feed is the analysis on the home builders took a whole day to do and I had to put a lot of numbers in the spreadsheet to do the comparisons, I use FT.com subscription but this takes ages to pull all the details out. I was hoping some of this data could be easily embedded into a spreadsheet and compared if only I had a better package.

Just to get the data prepared to do analysis takes ages and sometimes no trade comes from it as I cant form a view.

 

[gooseman]

yep-that's where all the best TA's go, Bloomberg. Not banks/HF's etc but bloomberg. have a think mate-seriously.

 

[foredog]

See if proquote can help you, it'sthe LSE own data system and only!!! £1200 ish a year may be good enough for your TA

 

[GammaJammer]

Unless the analysis you're doing is reasonably sophisticated, there must be a better option for you than Bberg / Rtrs.

Oh, and don't be seduced by all that bloomberg anywhere on your iPhone rubbish. That really is pointless technoporn mate. If you genuinely need it for analysis then fine, but phones with their widdly little screens and tiny processors are pointless ways to access this. All my guys have it, but all they use it for on their phones is the IB chat functionality.

 

[ukdaytrader]

I dont use so much technical analysis, more fundamental. So for example I wanted to compute the inventory value of the building companies against their long term debt value, compute a margin to identify those companies that are proportionally heavily indebted. This was also compared to market capitalization to see how much of a discount these trade at.

I also then wanted a table of the correlations against each other as well as their market betas.

Out of this I picked the best and the worst. Then I wanted a profile of their current directors (past companies they have been at)

Also reviewed a range of recent news articles and any RNS announcements for the 2 companies I had picked.

After all this I reached a conclusion. Putting this together required a few sites, transfer of data to spreadsheets etc. It just took ages. Now If I wanted to repeat this exercise in a month again it will take another day potentially.

Perhaps I should get an assistant may be cheaper ?

 

[GammaJammer]

You are paying for an awful lot of functionality you'll never use if you get Bloomberg. Honestly. Even leaving aside the fact that it's betetr for bond analysis then equities, it's still above your level. And I genuinely don't mean that in a condescending way.

Btw - I just did a quick google search and found this....

Had never heard of it before. Any use?

Alpha | alpha

 

[ukdaytrader]

You said it, not me. Oh sorry, it was a 'notional' £80, that you had to add a few zeros onto to get the correct figure, yes?

Plop.

£80 wouldn't have even covered the commission? That's good news, because I know traders who can spend close enough to 50 times that much on commission per day, who still couldn't justify the expense of a Bloomberg Terminal.

Are they trading Zimbabwean in dollars as well ?

 

[ukdaytrader]

Thanks for the advice Gamma - I've had an offer of a trial period no commitiment so I may take it up...and I will report back on its usefulness.

I take your point on the functionality, particularly as I don't trade bonds / interest rates etc. Where I used to be they used to construct there own yield curves using bloomberg data !

I was thinking reuters was better for equities but again the term of the contract becomes a problem. I wouldn't mind running on a monthly basis, the thing is if you make a loss for the month and then have to fork out the fee as well..........I would have to tell the wife not to go to Bond Street for the week.........

 

[Skill Leverage]

Are they trading Zimbabwean in dollars as well ?

You've lost me.

 

[GammaJammer]

Thanks for the advice Gamma - I've had an offer of a trial period no commitiment so I may take it up...and I will report back on its usefulness.

I take your point on the functionality, particularly as I don't trade bonds / interest rates etc. Where I used to be they used to construct there own yield curves using bloomberg data !

I was thinking reuters was better for equities but again the term of the contract becomes a problem. I wouldn't mind running on a monthly basis, the thing is if you make a loss for the month and then have to fork out the fee as well..........I would have to tell the wife not to go to Bond Street for the week.........

Did you get a ballpark figure for pricing?

 

[ukdaytrader]

Did you get a ballpark figure for pricing?

Anyway Costings are 1900 USD per month -bloomberg - 2 year contract 60 days notice for exit an exit charge of 50% of the remainder of the 2 year contract. There is also VAT on top.

For Reuters 3000 it was around 1000 - 1200 GBP per month. 12 month contract - no exit. + VAT on top.

 

[roughbert]

So for example I wanted to compute the inventory value of the building companies against ... It just took ages. Now If I wanted to repeat this exercise in a month again it will take another day potentially.

Perhaps I should get an assistant may be cheaper ?

Some of us write programs to scrape such data together and they don't eat or drink. The programs I mean. I'm a ***ing glutton myself.

 

[Skill Leverage]

If you must have one, go for Reuters. Just have a good think about it, is all I'm saying; £1200 is a lot of money for information that can be gathered for free with a little effort.

 

[Skill Leverage]

You say that it takes you a day to collate all your information for the month... if over an extended period of time your average daily net profit > £1200, you can theoretically justify Reuters. If not, then you can't. Besides, what's stopping you getting it done on a Sunday, that's got to be worth £1200. I'll do it for you for half that.

You'd be far better off paying £1500 a month at a firm and getting Reuters, dedicated support, direct lines to the exchange, lower commissions etc...

 

[roughbert]

Also consider that you will not get 100% of what you want from Bloomers or Reuters - you will still have to spend time researching in detail when they don't provide everything you need.

 

[GammaJammer]

Anyway Costings are 1900 USD per month -bloomberg - 2 year contract 60 days notice for exit an exit charge of 50% of the remainder of the 2 year contract. There is also VAT on top.

For Reuters 3000 it was around 1000 - 1200 GBP per month. 12 month contract - no exit. + VAT on top.

I meant for the platform I suggested. Just curious.

 

[ukdaytrader]

Gamma - cheers for that - its got RNS which is what I was specifically looking for.

Skills I cant do that as if you think that I need to look at say 10-12 sectors, place trades in respect of timings and look at other opportunities - I am out of time. At the moment I work from 8.00am to around 7 - 9 pm everyday 5 days a week and then some over the weekend.