What to do with this bloomie Terminal??? | Forex Factory

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What to do with this bloomie Terminal???

  • #1
  • First Post: Sep 14, 2006 11:45am Sep 14, 2006 11:45am
I just got this bloomberg terminal. I want to see if it is something i want to invest in for the long run. Can anyone tell me what would be some good uses besides the econ releases? There is a ton of info on there from backtesting almost every model to forward rates. Almost anything you could ever want. So lets see what we can do.

I played the Retail Sales for GBP on the GBP/USD @ 3:30am, it was good for 115pip in about 10secs. And the US retail sales, coupled with the other info released was good for 85pips on the EUR/USD.

-The Drizzle
-The Drizzle
  • #2
  • Sep 14, 2006 2:58pm Sep 14, 2006 2:58pm
How much does it cost?
  • #3
  • Sep 14, 2006 3:47pm Sep 14, 2006 3:47pm
Quoting Drizzle
I played the Retail Sales for GBP on the GBP/USD @ 3:30am, it was good for 115pip in about 10secs. And the US retail sales, coupled with the other info released was good for 85pips on the EUR/USD.
You know, I'm almost certain you did not gain 115 pips in 10 secs on that announcement. Having said that, most traders look for the most timely data they can get when news trading and a lot of people think Bloomberg is the fastest. Even a few seconds can make a huge difference.
  • #4
  • Sep 14, 2006 4:21pm Sep 14, 2006 4:21pm
Quoting lglyons
How much does it cost?
About $1,750-$2,100/month.
  • #5
  • Sep 14, 2006 4:36pm Sep 14, 2006 4:36pm
Quoting SisterCurare
You know, I'm almost certain you did not gain 115 pips in 10 secs on that announcement. Having said that, most traders look for the most timely data they can get when news trading and a lot of people think Bloomberg is the fastest. Even a few seconds can make a huge difference.
I agree with your assessment. 115 pips was not possible in any 10 second period today. Now, using multiple lots, the bloke could have accomplished this, but then he really wouldn't have gained 115 pips.
  • #6
  • Sep 14, 2006 5:21pm Sep 14, 2006 5:21pm
You know what would be really cool. Get about 5-6 traders together and everyone pitch in for a bloomberg subscription. Set it up on a hosted VPS server somewhere and everyone can remote desktop in to it. That would shave the price. I doubt the RDC delay would be very significant.
  • #7
  • Sep 14, 2006 5:22pm Sep 14, 2006 5:22pm
Quoting mrmikal
I agree with your assessment. 115 pips was not possible in any 10 second period today. Now, using multiple lots, the bloke could have accomplished this, but then he really wouldn't have gained 115 pips.
Its a newbie's mistake to claim "I got 100 pips" when in fact, it was 10 pips x 10 lots.
  • #8
  • Sep 14, 2006 8:46pm Sep 14, 2006 8:46pm
To clarify, I had 115pip profit from trading multiple lots. I apologize for the misunderstanding. I thank all of you for your suggestions, keep em come'n.

-The Drizzle
-The Drizzle
  • #9
  • Sep 14, 2006 11:10pm Sep 14, 2006 11:10pm
Theres a service that relay's news events from one of the big news providers. Its about $200 a month I think (could be pound). Its illegal to relay the big expensive suckers; so they just give a direction on the trade or something. Stands to reason we couldn't use something like that on FF. All interested pay in + a premium for site managment and info is passed on via a chatroom type setup in such a ways to avoid litigation. What you guys think? I'd pay a few bucks a week for such a service.
  • #10
  • Sep 14, 2006 11:24pm Sep 14, 2006 11:24pm
whats the link for the bloomberg site
  • #11
  • Sep 14, 2006 11:28pm Sep 14, 2006 11:28pm
bloomberg.com
-The Drizzle
  • #12
  • Sep 14, 2006 11:31pm Sep 14, 2006 11:31pm
Quoting Milk Man
Theres a service that relay's news events from one of the big news providers. Its about $200 a month I think (could be pound). Its illegal to relay the big expensive suckers; so they just give a direction on the trade or something. Stands to reason we couldn't use something like that on FF. All interested pay in + a premium for site managment and info is passed on via a chatroom type setup in such a ways to avoid litigation. What you guys think? I'd pay a few bucks a week for such a service.
Few bucks is much better than 2,000/month! I agree.
  • #13
  • Sep 14, 2006 11:32pm Sep 14, 2006 11:32pm
Quoting Milk Man
Theres a service that relay's news events from one of the big news providers. Its about $200 a month I think (could be pound). Its illegal to relay the big expensive suckers; so they just give a direction on the trade or something. Stands to reason we couldn't use something like that on FF. All interested pay in + a premium for site managment and info is passed on via a chatroom type setup in such a ways to avoid litigation. What you guys think? I'd pay a few bucks a week for such a service.
You must be referring to forex bastards' signal.

I agree with MilkMan's idea on setting up an FF's news signal service!
  • #14
  • Sep 15, 2006 2:27am Sep 15, 2006 2:27am
Quoting Drizzle
I just got this bloomberg terminal. I want to see if it is something i want to invest in for the long run. Can anyone tell me what would be some good uses besides the econ releases? There is a ton of info on there from backtesting almost every model to forward rates. Almost anything you could ever want. So lets see what we can do.

I played the Retail Sales for GBP on the GBP/USD @ 3:30am, it was good for 115pip in about 10secs. And the US retail sales, coupled with the other info released was good for 85pips on the EUR/USD.

-The Drizzle
call your bloomberg rep and get them to bring a trainer around. It's such a waste for ppl to get bb just for news. News is just a fraction of what bb can offer and since you're probably only trading fx, it really isn't worth it unless you're bringing in a guaranteed 6 figures a year from trading
  • #15
  • Sep 15, 2006 2:51am Sep 15, 2006 2:51am
Quoting sccz97
call your bloomberg rep and get them to bring a trainer around. It's such a waste for ppl to get bb just for news. News is just a fraction of what bb can offer and since you're probably only trading fx, it really isn't worth it unless you're bringing in a guaranteed 6 figures a year from trading
Its only so expensive because they have to have personnel at all the news releases: they're probably well within their rights to charge $$$ for the service. That's not to say we don't have a right to shaft them either! I reckon its worth the money if it gets you trades you wouldn't have got otherwise. Theres more than 1 way to skin a cat though...
  • #16
  • Sep 15, 2006 2:58am Sep 15, 2006 2:58am
Quoting Milk Man
Its only so expensive because they have to have personnel at all the news releases: they're probably well within their rights to charge $$$ for the service. That's not to say we don't have a right to shaft them either! I reckon its worth the money if it gets you trades you wouldn't have got otherwise. Theres more than 1 way to skin a cat though...
Of course it's worth the money if you're more profitable with than without. But to say that it's expensive because they have personnel at all news releases is untrue. They're expensive because they are the most complete, news, analytics and financial data modelling service out there. Nothing else comes close. THere's a reason why the company I work for spends over $1m a year on bb licenses
  • #17
  • Sep 15, 2006 3:50am Sep 15, 2006 3:50am
Quoting sccz97
Of course it's worth the money if you're more profitable with than without. But to say that it's expensive because they have personnel at all news releases is untrue. They're expensive because they are the most complete, news, analytics and financial data modelling service out there. Nothing else comes close. THere's a reason why the company I work for spends over $1m a year on bb licenses
True?! I was just regurgitating what I had heard.
  • #18
  • Sep 15, 2006 9:21am Sep 15, 2006 9:21am
Thanx. I'm lookin into what other resources they have that I can build a reliable trading system off of. Trading news only with about 5 lots is good for about $1000 every time the estimates are off on a major release. That alone should be worth the money, if you learn what you are doing. BUT!!! That being said. If you learn what you are doing as far as news is concerned you will make money with or without a BB Terminal.
-The Drizzle
  • #19
  • Last Post: Sep 15, 2006 9:54am Sep 15, 2006 9:54am
Quoting Drizzle
Thanx. I'm lookin into what other resources they have that I can build a reliable trading system off of. Trading news only with about 5 lots is good for about $1000 every time the estimates are off on a major release. That alone should be worth the money, if you learn what you are doing. BUT!!! That being said. If you learn what you are doing as far as news is concerned you will make money with or without a BB Terminal.

pls try and think longer term. Have a read of this:
http://www.elitetrader.com/vb/showth...threadid=75861
I'm not trying to convince anyone to stop trading news, all I'm saying is that the way you guys are trading news, and with retail bucketshops to boot, will not last, and although you might make a few k off some figures a month that will cover the monthly cost of a bb terminal, beat in mind the contract locks you in for 2 years. By all means get bb, but IF and only IF you've already got the money to pay for the full 2 years otherwise you'll find yourself in -ve equity.
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