daily reading

[Scotty2Cues]

Hi,

Im a newbie and just wondered what I should be reading on a daily basis to keep up to date with whats happening in the markets - internet or paper based
Thanks.

 

[tomorton]

Just charts Scotty, just charts.

 

[Waterfield]

Hey Scot,

It would help if you told us what you were trading so we could expand on what you should read!

If you are intra-day trading I highly recommend signing up for a free trial of a news feed at www.ransquawk.com.

The free version is unlimited, however the news feed is delayed by around 10-20 seconds and the "listen live" feed is delayed by up to 2 minutes.

Ransquawk compresses all the news from several different networks, so if there is any news out you will know about it first. For example they compress - Bloomberg, Reuters, Telegraph etc as well as giving market chatter / rumours.

There are also other squawk services out there, "Sigma Squawk" is also quite a popular one!

Furthermore, if you are intra-day trading you will need to watch what you trade. If you are trading stocks, you need to know about events which might effect the stock price, a lot of background research is needed to avoid events in which you ask yourself "what caused that?!". For example, earnings reports will effect the stock price drastically. Another example could be an Oil inventories report on an airline stock, as oil prices and airline prices tend to correlate!

Now if you are not trading stocks but trading forex or indices (I have a feeling you are wanting to trade something like the FTSE100) you should visit websites such as:

FXSTREET - Calendar
FOREXFACTORY - Calendar

and look out for events which are marked as high volatility. If you are in a trade at one of those times you might be shaken out of your position dependant on the result of the news.

I'm not sure if this is what you meant, if you really just meant:

"What newspapers should I read to give me a better understanding of what the market participants are thinking?"

then:

www.ft.com
www.reuters.com
www.bloomberg.com
www.dailyfx.com
www.wallstreetjournal.com
www.bbc.co.uk/news/finance
www.telegraph.co.uk/finance

Just remember that if you are trading common knowledge, you probably won't be able to profit from it.

Good Luck!

Phil

 

[Scotty2Cues]

Thanks! I suppose it was just to get an idea of daily goings on in the markets keeping up with the news. Also the type of daily stuff I would need to know for a job interview. Ill look at those. Is yahoo finance conseidered useful? Cheers.

 

[Waterfield]

The author of "the game" [the financial book not the dating book] said these few words yesterday:

"You go to a job interview and the interviewer has already gone through about 5 people, all those people are talking about the current hot news which just so happens to be Greece. If you go into that interview talking about Greece you will not set yourself outside from the rest. It's best to stick to something which is a bit less well known but just as interesting. For example..."

I'm going to be blunt here. You are presumably about to go for interviews for a finance position, yet you don't know where to look for basic information?

All the major newspaper websites have a finance section, usually then split into markets, economics and savings afterwards.

If you have no interest in finance but are going for a job in this sector you won't last very long. You will either regret going into it or get found out. Make sure this isn't a phase.

Forgive me if my presumption is wrong.

#Yahoo Finance - It's fine, it's just like google finance or any other financial newspaper feed.

#Job Interview - It depends on what you're applying for and who you are applying for.

Please keep the background information coming so we can help if possible!

Regards,

Phil

 

[Scotty2Cues]

The author of "the game" [the financial book not the dating book] said these few words yesterday:

"You go to a job interview and the interviewer has already gone through about 5 people, all those people are talking about the current hot news which just so happens to be Greece. If you go into that interview talking about Greece you will not set yourself outside from the rest. It's best to stick to something which is a bit less well known but just as interesting. For example..."

I'm going to be blunt here. You are presumably about to go for interviews for a finance position, yet you don't know where to look for basic information?

All the major newspaper websites have a finance section, usually then split into markets, economics and savings afterwards.

If you have no interest in finance but are going for a job in this sector you won't last very long. You will either regret going into it or get found out. Make sure this isn't a phase.

Forgive me if my presumption is wrong.

#Yahoo Finance - It's fine, it's just like google finance or any other financial newspaper feed.

#Job Interview - It depends on what you're applying for and who you are applying for.

Please keep the background information coming so we can help if possible!

Regards,

Phil

I am new to finance (my background is physics/maths). Just wanted a new challenge and trading is something Ive always thought about. Some people climb mountains, run marathons, restore houses, fix cars, play bingo. I though Id give this a shot. So yes it very well might be a phase. Im lucky that I can devote the next 6months to it and by that time I should know whether its for me or not.

As for jobs I may well apply for something in the future if all goes well. (I have been invited to an assessment and part of the test is knowing the current markets-not going though)

 

[Waterfield]

Since you are into maths and physics, are you interested in quantitative trading at all? There are several links and forums which I can recommend.

As for the challenge, this is probably the only one in which you will lose hair and get fat instead of getting lean...then again you will make a lot of money if you do it right.

You should go to the assessment even if you don't want to go, it'll give you an experience of what others might be. Again, what the guy from "the game" said:

"Always have a few interviews lined up and do them in priority, from lowest to highest, so you gain experience each time".

Good luck again.

Phil

 

[Adamus]

All the financial newswires give the same old "gold went up today because of worry about the German data" kind of retrospective worthless gibber.

Read Taleb.