Bloomberg Terminal

Don't Panic Don't Panic!


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I utilize bloomberg for work (corporate bond market). it's industry standard for banks, institutional investors, and hedgefunds (those with at least 100mm). i do a lot of deep research into companies as it's required for my job. the interface is built for speed although it looks antiquated. you can do everything with a few of keystrokes, its design puts all functions at your finger tips (the key is faster than the mouse). wall street uses it for a reason but they can also afford it. big money is required. also, you can reach the helpdesk any time of the day as bloomberg doesn't sleep, they have operations all over the world. they can help you build templates for importing data (amazing stuff). Either on the phone or instant messaging, they are there waiting for you.

I'm working my way into day trading and will open up an account with one of the numerous providers. it's the most economical way/option unless you're a hitter. For technical analysis and charting, skip bloomberg. if you don't mind paying for the service, use it. it's worth the experience. reuters is a competitor for this high level system but falls short (still, it's worth a test drive).

To sum: bloomberg is awesome but not essential for the retail customer. skip it. save your money.
 
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vinicius said:
I dont understand what is the problem.. Everyone seems to blame the guy, just because he wants a bloomberg terminal.. WTF!

Is not yours either mine if he can or cannot pay the 1.200 quid a month.. If it is good for him, so go for it..

If i give my opinion about something for someone and the person takes it and do just the opposite i just dont say anything else.. "Wash my hands" as we say back home..

Some people here are funny, seem to be praying to someone fail just to say.. "i told you"..

C`mon kids..

By the way.. I need some good study stuff about trend... besides HH and HL, someone else could show me the way where can I get something interesting about it? I need to learn how to read the behavior of a trend.. And maybe create an "trend detector" to finalize my idea..
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I would not say it is "some people" , unfortunately a large majority of Brits don't like people being successful. Instead of shaking the guys hand for success, they pray on his/her failure.

People don't shout about their success for fear of reprisals and hence a lot of people miss an opportunity to learn from these individuals.

A typical quote on the house price forums referring to the teachers that made a mint during the property boom

"any predictions for when these guys file for bankruptcy?"

This attitude stems across the whole economy, whether its council quangos stopping development, the bank manager not lending small business cash when it needs or someone scratching a sports car in the supermarket.

Similarly on this forum disbelief that someone could make a few thousand a day consistently trading.

No wonder that any innovation in this country ends up being owned by the Americans, people are provided with an opportunity to achieve something without being taken out at the first hurdle by their fellow countrymen.
 
train99 said:
I utilize bloomberg for work (corporate bond market). it's industry standard for banks, institutional investors, and hedgefunds (those with at least 100mm). i do a lot of deep research into companies as it's required for my job. the interface is built for speed although it looks antiquated. you can do everything with a few of keystrokes, its design puts all functions at your finger tips (the key is faster than the mouse). wall street uses it for a reason but they can also afford it. big money is required. also, you can reach the helpdesk any time of the day as bloomberg doesn't sleep, they have operations all over the world. they can help you build templates for importing data (amazing stuff). Either on the phone or instant messaging, they are there waiting for you.

I'm working my way into day trading and will open up an account with one of the numerous providers. it's the most economical way/option unless you're a hitter. For technical analysis and charting, skip bloomberg. if you don't mind paying for the service, use it. it's worth the experience. reuters is a competitor for this high level system but falls short (still, it's worth a test drive).

To sum: bloomberg is awesome but not essential for the retail customer. skip it. save your money.
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i havent used bloomberg , interested in the difference with the reuters terminal?
 
In terms of functionality there are loads of differences and Bloomberg is really more geared towards the bond and equity markets than say the fx.

I really only use either for the news headlines and a bit of techincal analysis. You will find though that the interbank fx market only really uses Reuters. Therfore one advanatge of having say Bloomberg (and to a lesser extent market news and dow jones news) is that if the headline comes out on bloomberg before reuters then you have time to trade the headline, put the kettle on, and then see the market catch up.

The other difference is Reuters will usually allow all sorts of negotitation and deals to be agreed. No chance with Bloomberg.
 
all i use reuters for is the fantastic quality news. but thats about it.. the charting is totally crap.
 
If it's just news you're after, I'd rather pay for a news service subscription meself. DJN or similar, for a fraction of the price.
 
They're both good in their own ways, it's just that the very large majority of people with BB that I know use it to message each other about what they reckon brain tastes like, and not much else. Most of them don't even know how to input basic commands; it has a ridiculous amount of features and information, most of which people will never use. That's why I think it's all well and good if you're not paying for the terminal, but if you have to factor it into your personal costs, it becomes much less attractive.
 
GammaJammer said:
If it's just news you're after, I'd rather pay for a news service subscription meself. DJN or similar, for a fraction of the price.
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yes i have looked at and tried alternatives but the beauty of the reuters terminal is the way you can organise data in a well presented structure. i have tabs for many different things and on each tab i can split the page up as i wish to adding any component i need. yes the cost is a heck of a lot more but the end result is clear picture of whats going on and $$ making descisions. i attached some screenshots showing my point
 

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OK being trying to get a free trial for Alpha | alpha - I just cant swallow a 12 - 24 month subscription with Reuters and Bloomberg until I can prove my strategy over a longer period.

These guys however don't seem to want any business, emailed sales guy, gave me the wrong link, gave me another link which turned out to be the same download, then put me over to support. This has been going on for the last 3 days still can't get access. No response to emails - at least not constructive.

Quite a contrast to the professionals of Reuters and Bloomberg !

Poor service, particularly on the sales side, they seem to feel that you are wasting their time unnecessarily, you wonder what the product support is going to be like going forwards.

The funny thing is - how difficult can it be to get a user name and password so someone can trial the system ?

I would have just bought it for £100 a month cant go wrong......anyone else got any other alternatives ?
 
Have you had a look at proquote, don't know if it'll be what you want but mine was £1200 a year.
 
ok got the alpha password today went into my junk mail.

It looks quite good but also relatively complex to use. I think it will take me a week to understand how to use it.

The trial also does not provide real data which is a bit of a headache. Not even sure if it is streaming either so difficult to understand how this will work in reality.
 
If you need Reuters or BBG to make your trade decisions, then you will have it anyway, wont you?!?! These tools are useful if and only if you are a) responsible for picking up a phone and sound like you know your sh!t; b) trading OPM; c) doing well enough to spunk the cash on a plaything.

If you are still trying to "prove your strategy over a longer period" then you fall into d)...
 
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