Bloomberg

I trade from home and i'm trying to work out which online trading system is the best to use. Bloomberg charge around £10,000 per annum, where as Sharescope and esignal charge around £1,000 per annum. If I trade only on the London Stock Exchange, what would the advantages be (if any) of spending so much more on Bloomberg? (your replies are much appreciated)undefined

Simple answer to your question - NONE. £10,000 per annum is a lot to spend on a trading system before one makes any money. The type of system you use will be dictated by the method of trading that you use ie. CFDs, spreadbetting etc. You will find that some companies offer systems, data etc when you open accounts with them.

only if your net 50-70k + per year from trading....sharescope is a good trading platform .....but the bloomberg television is very good ,, ps no i dont work for them

lion63,, what time frame do you trade in ...intro.day ,, or daily,,works better for you?

Mikeyuk,

I trade daily, weekly etc. However, I have found that the trades that are put on with a view of being closed after more than one trading session tend to be the most profitable. Day trading tends to be too much hit and miss. As an example, I opened a short position in Schering Plough on Wednesday and closed it just before the end of the day losing the spread (not too bad, I can live with that). To my horror, the stock dropped 60 points within the first 30 minutes on Thursday. That is the downside of daytrading.

i have found the same ,, the seems to breakout ,,,then came back to get your stop.. then it carrys on with breakout....i was thinking about daily ..weekly time frames ..thank you lion63

Now one can see why at least 75% of daytraders lose money, it is not that they do not know what they are doing, it is simply because there is not enough time for things to move in the right direction. That does not mean that I do not make money daytrading it simply means that it is much harder. Forex seems to be a happy hunting ground for the daytrader.

Disadvantages... you need at least £12 to £15K min to break even on costs.

In the good ole days, I used to day trade via delayed feeds on teletext and make money. Now I swing trade with live data LOL.
If you are into daytrading then that is what you want, but the more relaxed swing trading is more profitable, for me anyway

And yes I have used Bloomberg terminal as a data feed.