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Does having Bloomberg TV on in the day help with your forex trading?

  • #1
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  • First Post: May 20, 2008 11:49am May 20, 2008 11:49am
I have BBC News 24 on in the day coz I'm cheap, it is neccessary to have Bloomberg TV Channel. Am I missing out?








(be prepared for more silly questions at a later date)
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  • #2
  • Quote
  • May 20, 2008 11:52am May 20, 2008 11:52am
not really. I am a technical trader so I trade what I see on the charts and not what is on TV.

Most of the time the move has started before it shows on the TV anyway.
  • #3
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  • May 20, 2008 11:54am May 20, 2008 11:54am
Shrug, I keep CNBC on around newstime, otherwise it's not all that useful. Sometimes if I'm in the other room I'll flip over the top line quotes to check my positions, otherwise it's mostly useless. Can't exactly trade on analyst advice.
  • #4
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  • May 20, 2008 12:56pm May 20, 2008 12:56pm
Quoting Rabid
Shrug, I keep CNBC on around newstime, otherwise it's not all that useful. Sometimes if I'm in the other room I'll flip over the top line quotes to check my positions, otherwise it's mostly useless. Can't exactly trade on analyst advice.
I agree that you can't really trade on what you're watching on TV though I think having the TV going in the background can help in a roundabout way--at least for me.

Sometimes I'll hear a commentary on some issue or another and it will cause me to study it a little further. If we're working in the financial markets, any piece of knowledge we pick up and explore is an asset.

But, again, I don't rely on any TV news to make immediate trade decisions. Watching a group of highly educated analysts of equal stature debating one point or another in total disagreement just proves the folly in trying to make decisions based on what they're saying.
  • #5
  • Quote
  • May 20, 2008 1:46pm May 20, 2008 1:46pm
Quoting Phil_GMT
I have BBC News 24 on in the day coz I'm cheap, it is neccessary to have Bloomberg TV Channel. Am I missing out?








(be prepared for more silly questions at a later date)
the most useful time to watch is when there is news. I usually watch Bloomberg they announce directly the news usually within a minute. I use this not to trade but to know what is going on.
and best is when Trichet is speaking, you can see the euro going up and down with every gesture he makes lol.
you can not rely on analysis from TV they are maybe right, but mostly they talk about what will happen in the future not within a day or 2, like cable will be between 1.5 and 1.7 by the end of the year per example.
  • #6
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  • May 20, 2008 1:50pm May 20, 2008 1:50pm
I have Bloomberg because I like their coverage. That's the only reason why one should have that channel.

Look at the calendar and the charts. By the time Bloomberg talks about it, it will not be news to you.
Not all sins are created equal
  • #7
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  • May 20, 2008 3:06pm May 20, 2008 3:06pm
I find that news makes me think twice about my position and doubt it so I dont use it at all now. Just know when big news is coming out and be careful during that time ex. NFP, when bernanke speaks, etc.
  • #8
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  • May 20, 2008 3:11pm May 20, 2008 3:11pm
Quoting Xenaga03
I find that news makes me think twice about my position and doubt it so I dont use it at all now. Just know when big news is coming out and be careful during that time ex. NFP, when bernanke speaks, etc.
Yes, i think I will do that.

Thanks for all your responses.
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  • #9
  • Quote
  • May 20, 2008 4:10pm May 20, 2008 4:10pm
i watch forextv.com at night for recap purposes, always good to know what levels others are looking at, tho they are usually a lot more longer term it gives some context
Skype: heliosphan187
  • #10
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  • May 20, 2008 4:30pm May 20, 2008 4:30pm
Thanks that Forex TV looks good...
BTC/USD Trend Following EA Beta Testing All Time Return: 66.6%
  • #11
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  • May 20, 2008 4:34pm May 20, 2008 4:34pm
bloomberg comes in handy when there's some important earning release after the close...

by the way you can watch it online for free at their website.

another fine source of news is reuters, which has recently opened their API to everyone so you can access their news with any program you desire.. check them out.
  • #12
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  • May 20, 2008 5:27pm May 20, 2008 5:27pm
I've got Bloomberg, CNBC, Sky Business. I don't watch CNN, Fox or anything else. They are good to have to see what other monkeys are watching, but they aren't critical to my trading at all. In fact my Foxtel programming is such shit I'm thinking about dropping the whole thing.

I will miss the blowhards though.
  • #13
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  • May 20, 2008 6:29pm May 20, 2008 6:29pm
i have it on - the women presenters have nice tits
youtube.com/SoultraderForex
  • #14
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  • May 20, 2008 6:47pm May 20, 2008 6:47pm
Change Channels to the Sports Network.
"All Work & No Play makes Jack a Dull Boy."

Used to Scalp with other People's Money for a living & had 3 TV's in my Trade Room. I don't remember {although it may have happened once or twice} ever getting "Breaking News" that was usefull to Trade with.{NFP etc. excepted but I got that via my Data Feed}

Even in the Futures Markets.
eg: FCOJ Spikes... Then... Weather Net Updates and calls for "Frost in Florida." Try Trading That...

Who's the Cart & Who's the Horse here?
As a {Live}Trader you have joined an Elite Group that has a say in Global Wealth.
Do not underestimate your Vote on this.
  • #15
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  • May 20, 2008 7:33pm May 20, 2008 7:33pm
Quote
the women presenters have nice tits
Fair point and as good a reason as any, actually the "b(r)est" reason to watch.

However, I'm with Bemac.... I like sports or a film (preferably with nice ti.. )

Cheers
  • #16
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  • Last Post: May 21, 2008 11:13am May 21, 2008 11:13am
its good but it need time if you have
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