Anyone trade purely based on news only ?

[sccz97]

How much does it cost?

news provider or a fast connection? Bloomberg can seem overpriced if you're using it for just news. MY company spends over $1M a year on bloomberg licenses and we still share terminals (just don't let bloomberg know). THey're very strict with what you can and can't do with the data, to the poitn where it's getting ridiculous. I've heard talk of issuing new users in the future with a secure id WITH fingerprint scanner to access the id. I'm not sure how much a basci terminal costs but I think you might get a difffernet rate to institutions.

 

[JP1966]

How much does it cost?

Bloomberg won't negotiate they never have done - about £1k a month off the top of my head.

You could get Reuters trader (cheaper than 3000 extra and still good for figures I believe) for about £450 per month and market news headlines and fx bullets is about $200 per month.

I don't know what size you trade so you will have to do the maths to see if it is worthwhile for you. All I would say is you can't trade news without a good news source.

 

[JP1966]

Why did you go long with a good NFP number?

Over the past 2 weeks the dollar hasnt really responded to good data. I went short of euro long dollar on the data and booked a quick profit becuase (as I posted here on friday morning) I thought there was a chance that a good figure would just give better levels to sell dollars. Furthermore although the figure was better than expected and above the important 200k level it was only about 20k better than forecast - hardly a rip roarer!!

After I had squared up my dollar long , the euro dollar started bouncing from the mid 50s to 94 bid.and so I went long assuming 1.24 would crack and my pre figure worries would prove correct. I managed to buy at the top of the days range!

I had an exceptionally busy hour or so after that but it wasn't to be . Some days you are going to lose - Friday was one of them!

 

[sccz97]

Bloomberg won't negotiate they never have done - about £1k a month off the top of my head.

You could get Reuters trader (cheaper than 3000 extra and still good for figures I believe) for about £450 per month and market news headlines and fx bullets is about $200 per month.

I don't know what size you trade so you will have to do the maths to see if it is worthwhile for you. All I would say is you can't trade news without a good news source.

You managed to get 3000 xtra for £450?!?!? When I was trading on my pa the lowest they'd give me was £10k for the year.

 

[sccz97]

Thanks - I thought you said you just trade the intial move though and square up pretty quick afterwrds.

We have a different trading style as I would not have any position prior to a big announcment. Not saying my way is better though, just different.

As these eco figures provide the market with fundamental reason to go long or short, I really use these news releases as a means of getting in right at the start of the move. In general I do hold portions of positions for as little as 30 seconds depending on the kind of move, but bigger figures can provide the start of a new trend where it's def worth holding on. From that point I let another applcition deal with the exit strategy.

Just to make it clear to the person who tried to suggest that there are some ppl on this forum who are trying to make out that they are something/one they are not, I work in a top 10 (to let you narrow it down) hedge fund, started off in the risk department developing models and simluation endings and managed to convince someone high up to let me trade (based on personal pnl history). The reason why I can fart around and post so frequently is cos at the moment, I'm very bored, the markets are dull and my company doens't ming what I do so long as i make consistent returns.

 

[Baruch]

Bloomberg won't negotiate they never have done - about £1k a month off the top of my head.

You could get Reuters trader (cheaper than 3000 extra and still good for figures I believe) for about £450 per month and market news headlines and fx bullets is about $200 per month.

I don't know what size you trade so you will have to do the maths to see if it is worthwhile for you. All I would say is you can't trade news without a good news source.

scczz97 and JP 1966,

Thanks to both of you. 200 per month for Reuters is not so expensive.

 

[JP1966]

You managed to get 3000 xtra for £450?!?!? When I was trading on my pa the lowest they'd give me was £10k for the year.

That isn't what I said. I said he could get Reuters Trader for about £450 per month and stated that this was cheaper than 3000 extra.

3000 extra is cheaper than £10k a year though.

 

[sccz97]

Over the past 2 weeks the dollar hasnt really responded to good data. I went short of euro long dollar on the data and booked a quick profit becuase (as I posted here on friday morning) I thought there was a chance that a good figure would just give better levels to sell dollars. Furthermore although the figure was better than expected and above the important 200k level it was only about 20k better than forecast - hardly a rip roarer!!

After I had squared up my dollar long , the euro dollar started bouncing from the mid 50s to 94 bid.and so I went long assuming 1.24 would crack and my pre figure worries would prove correct. I managed to buy at the top of the days range!

I had an exceptionally busy hour or so after that but it wasn't to be . Some days you are going to lose - Friday was one of them!

very much like last november

 

[JP1966]

scczz97 and JP 1966,

Thanks to both of you. 200 per month for Reuters is not so expensive.

Market news is $200 per month, Reuters is more expensive.

 

[sccz97]

That isn't what I said. I said he could get Reuters Trader for about £450 per month and stated that this was cheaper than 300 extra.

3000 extra is cheaper than £10k a year though.

my mistake ...

 

[Baruch]

That isn't what I said. I said he could get Reuters Trader for about £450 per month and stated that this was cheaper than 3000 extra.

3000 extra is cheaper than £10k a year though.

OK, I misunderstood you, because you said that the headlines and forex bullets did cost 200 bucks.

 

[Anonymous]

sccz97,

What do you mean by

I'm takign that as a stab at me.

?

Why would I want to do that? I don't even know you.

 

[sccz97]

sccz97,

What do you mean by

?

Why would I want to do that? I don't even know you.

didn't mean to offend you if that's what I've done. I took your post the wrong way and for that I apologise. PErhaps you could explain exactly what you were trying to suggest with your mail?

 

[Baruch]

sccz97,

What do you mean by

?

Why would I want to do that? I don't even know you.

Oh no. We don't have time for that...

 

[sccz97]

Oh no. We don't have time for that...

perhaps everything that has to be said on this thread has been said and we should just close it.

 

[Baruch]

perhaps everything that has to be said on this thread has been said and we should just close it.

I don't agree. I want at least to know one more ting: What chart do you use when you trade the news? A 1 min chart? Do you use any indicators?

 

[Anonymous]

sccz97,

To "trade purely based on news only" entails being able to decipher what is genuine and what is advertising gimmick, which appears to be what this thread is about.

But that requires a skill or ability to discern between fact and fiction. A trader, as opposed to a broker requires a skill such as the ability to recognize eg. what is a profitable situation, which personally I think is a skill which not many possess.

If you were reading the post the way you did because of the reference to London, I was referring to myself when I was young. As for other things mentioned which many may not be understood, what is a small lightweight item which may sell for around £100,000 to £1,000,000 or so, which is what I mean by profitable situations, I shall leave it as it is.

 

[sccz97]

sccz97,

To "trade purely based on news only" entails being able to decipher what is genuine and what is advertising gimmick, which appears to be what this thread is about.

But that requires a skill or ability to discern between fact and fiction. A trader, as opposed to a broker requires a skill such as the ability to recognize eg. what is a profitable situation, which personally I think is a skill which not many possess.

If you were reading the post the way you did because of the reference to London, I was referring to myself when I was young. As for other things mentioned which many may not be understood, what is a small lightweight item which may sell for around £100,000 to £1,000,000 or so, which is what I mean by profitable situations, I shall leave it as it is.

again i apologise if I have caused offense. I by no means claim to be an experienced trader. I have no worked in a bank, nor a prop firm. I have merely picked up skills along the way and had the opportunity to become a systems trader. As you may know it is notioriously difficult to become a trader in a hedge fund or bank if you start off as a developer/risk analyst if not impossible and I'm the ppl at my company who made the decision to let me trade saw some potential.

IF you feel that any advice or facts I have provided on this thread are incorrect, please let me know, the last thing I want is for the ppl reading this forum to trade off advice that while may be suitable for myself, may end up lsoign money for other traders.

 

[JP1966]

I am loathe to get involved and don't doubt that you are genuine but a few things you have said aren't consistent and hence could make people doubt the authenticity.

You initially stated that you only trade the initial move and not the aftermath after a figure and yet you say you took a canada position Friday (which 'gapped' at most 15 pips on the announcement before falling back) but ran it through the nfp's 1.5 hours later.

You also say the smallest size you trade in is $10m and you only trade figures where it is expected to gap to a high degree. When talking about the Aussie numbers you say it is worth working nights becuase they can make a couple of thousand. Now, say you only catch 30 pips on a gap(the smallest you imply you look for in a figure) on your smallest amount, that is $30k...

 

[sccz97]

I am loathe to get involved and don't doubt that you are genuine but a few things you have said aren't consistent and hence could make people doubt the authenticity.

You initially stated that you only trade the initial move and not the aftermath after a figure and yet you say you took a canada position Friday (which 'gapped' at most 15 pips on the announcement before falling back) but ran it through the nfp's 1.5 hours later.

You also say the smallest size you trade in is $10m and you only trade figures where it is expected to gap to a high degree. When talking about the Aussie numbers you say it is worth working nights becuase they can make a couple of thousand. Now, say you only catch 30 pips on a gap(the smallest you imply you look for in a figure) on your smallest amount, that is $30k...

I'm fien with ppl doubting whether I'm genuine or not as I myself have doubts as to the authenticity of certain ppl I've seen in other forums.

>>You initially stated that you only trade the initial move and not the aftermath
correct, I will not put on a postiion after the initial move.

>>yet you say you took a canada position Friday
correct, I do not see how this contradicts with what I've stated. The figure was released below my threshold and i traded. As I've mentioned before I don't clsoe out 100% of the initla position if I feel the move is going to continue. If you've already banked and know that ther'es another market moving annoucnment coming your way with the chances that it will mvoe more in your favour would you not hold?


>>You also say the smallest size you trade in is $10m and you only trade figures where it is expected to gap to a high degree
these are my expectations, and as such, of course they are not correct 100% of the time. Sometimes figures I expect to move to a degree I think is worth trading hardly moves at all, a good example being cad cpi over the last few months.

I can sit here and answer all your questions but tbh it's not in my interests to validate to you whether or not I am who i claim to be. It's such a shame that this forum suffers from the same as all the other trading forums whereby ppl with xxx number of posts think they can exert some sort of authority and command a level of undeserved respect because of how long they've been posting. I've replied to the initial thread with the hope that I can share some of my strategies and experience with other ppl on this board. I can see now that ppl here are out to snipe.