What is the best website for breaking financial news?

nkingy2003

Junior member
37 0
I am quite new to spread betting and am excited to get started. I plan to keep as up-to-date as possible with all the breaking financial/worldwide news to help me make decisions. A good example would of been the BP oil spill starting a few weeks ago. Since that date BP shares have quite predictably fell considerably.

What would you guys recommend as the best website or websites for keeping up-to-date with financial/worldwide news such as quarterly profit announcements etc?

Also, what methods do you use to be a successful spread bettor? Do you use news to help make your decisions or analysis of graphs and other technical analysis. Obviously being new to spread betting I am unfamiliar with many of the technical analysis methods so perhaps if you know of a good website or book where I could learn the best methods you could let me know.

One more question (sorry I know this started as just asking for the best website and turned into more questions). What would you recommend as the best spread betting platform? I have read a few people saying IG Index is the best and I do like the idea of having guaranteed stop losses so I think this is the way I will go unless you can suggest a better platform?
 

Shanghai

Well-known member
325 54
If you are starting out it does seem quite appealing to trade based on the news, as the markets can move greatly on news events. However almost always by the time the likes of you and me get to hear about something the news is already priced into the markets. It is possible sometimes to plan a trade based on how the market reacts to news events but it is difficult to base an entire strategy on this. I would recommend reading a few book first. There is a thread on here where some good books are listed.

As far as spreadbetting firms go, IGindex is as good as any.
 
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meanreversion

Senior member
3,398 536
Read "Trade your way to Financial Freedom" by Van Tharp. Malcolm Pryor has also written a couple of good books about spread betting specifically. Have a look at "The Financial Spread Betting Handbook".
 

montmorencyt2w

Senior member
2,620 294
I won't say "best", but for Forex, there is FXstreet.

Also Forex Factory's Economic Calendar is well thought of.

More generally, you could take out a free subscription to ft.com. However, there is a per-month article limit on the free subscription, but you can also get this on the top page of Tradefair (although I can't get the videos to play from there for some reason).

I have a lot of time for Ashraf Laidi. His strength is a good overview of how FX, commodities and the stock markets all fit together. Beware of taking his calls too literally though; in fact beware of taking anybody's calls, no matter how good they are. You have to take responsibility for your own calls.

I'm not really into stocks and shares, but there are people here who are who may hopefully comment. Similarly TA. More generally just try to get a feel for how the markets work and try not to do anything hastily.
 

rathcoole_exile

Veteren member
3,924 766
mate, fkkk the news, it's a losing battle trying to trade it.
you're at best, 30 minutes late, if not an hour after the pros.
forget it pal
 

elitejets

Established member
943 435
I agree don't trade the news but sometimes it is nice to know who was driving the truck that ran you over.
Ransquawk is good
 
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meanreversion

Senior member
3,398 536
"at the top of the hour .. "
"Euro paring its gains .. "
"10 year bund / Greek bond spread .."

that guy is a walking cliche sometimes
 

montmorencyt2w

Senior member
2,620 294
No one says you have to "trade the news"; certainly not for newbies.

It's about getting an overall picture of what's going on out there (if you don't have the luxury of friends in the pits as some people on T2W claim to have).


I guess it's the old argument of TA verus fundamentals, and this isn't the place.
But @nkingy2003, just try to get an overall picture.

No don't "trade the news" (at least until you've been doing this for years), but certainly observe the news and its effect on the markets. And of course it is not just the news, or data releases that count. It is people's (the market's) perceptions that count. If your interest in the markets grows with experience, you will just gradually absorb most of this stuff anyway.

Trading without knowing the economic background is like gardening without knowing the condition of your soil, or even what season it is.
 

nkingy2003

Junior member
37 0
Thanks for your advice everyone.

What do you guys use to decided how you are going to trade then? I know a lot of people have said that if you have been doing this a while you just get a feel for things but surely there is more than just getting 'a feel' for things that make your mind up on how to trade.

Another question I didnt ask and I guess its only really neccessary if you are going to trade daily which I dont plan on doing yet, but do you pay for any live data services? I know ADVFN is supposed to be good.

Do you guys actually do this full time or as a part time investment interest?
 

nkingy2003

Junior member
37 0
I see a lot of talk about using moving averages as good indicators to predict markets. What are your opinions on this?

The general perception is that when the short term moving average moves from above to below the long term moving average the market will decline and move above for the market to increase. How accurate is this method? Obviously not prediction method will be 100% accurate but if its say 70% accurate that is enough to make consistent profits.

Do you guys use this method at all?
 

meanreversion

Senior member
3,398 536
Seriously, read some books first.

Moving averages tell you what has happened in the past, nothing more, nothing less.
 

gooseman

Experienced member
1,776 219
whoever said trading using TA is like driving by looking in the rear view mirror was spot on
 

meanreversion

Senior member
3,398 536
nkingy2003, you'd be much better off reading a couple of trading books first, attempting to discover things step by step on this thread will take you a very long time, and you'll get a mass of conflicting advice as well.
 
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