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Bloomberg Launchpad

  • #1
  • First Post: Dec 22, 2010 4:54pm Dec 22, 2010 4:54pm
Anyone tried their platform for FX?

http://www.bloomberg.com/professional/charts_launchpad/

Looks pretty good yet I cannot afford to spend 1500$/month for it. Yet
Measure twice, cut once
  • #2
  • Dec 22, 2010 6:11pm Dec 22, 2010 6:11pm
Nothing particularly new or spectacular about it. Just the same old type of info wrapped in a new cover and hyped up. I wouldn't trade with it if it were for free, let alone at $1500 per month.
  • #3
  • Dec 22, 2010 6:20pm Dec 22, 2010 6:20pm
for 1500 u can get a yearly subscription of tradeguider,ull make money there for sure
  • #4
  • Dec 22, 2010 6:45pm Dec 22, 2010 6:45pm
Quoting Marv
Nothing particularly new or spectacular about it. Just the same old type of info wrapped in a new cover and hyped up. I wouldn't trade with it if it were for free, let alone at $1500 per month.
No good features for FX at all ?
Measure twice, cut once
  • #5
  • Dec 22, 2010 6:52pm Dec 22, 2010 6:52pm
As Marv stated, theres nothing special about Bloomberg charts or terminal. Its just another charting package with all the typical charting tools. The only thing that separates this charting package from others is, the Bloomberg name and the $1,500 monthly price tag.

There are many other charting apps that does the exact same as this Bloomberg app and cost $1,400 less. Save your money. Theres really no reason to purchase this except for bragging rights to be using a Bloomberg product. But just because you use a Bloomberg product does not makes you a profitable trader.

Looking for decent charting apps? Look into ProRealTime or eSignal. I've used both of them, their excellent charting apps. My current charting app of choice is ProRealTime for their trendlines/support and resistance auto levels.
  • #6
  • Dec 22, 2010 7:10pm Dec 22, 2010 7:10pm
cant argu with esignal,esignal is available for forex.com and fxcm,the inly 2 fx broker,i think its 30$ a month
  • #7
  • Dec 22, 2010 7:43pm Dec 22, 2010 7:43pm
Quoting Jhig
The only thing that separates this charting package from others is, the Bloomberg name and the $1,500 monthly price tag.
Exactly.
  • #8
  • Dec 22, 2010 8:01pm Dec 22, 2010 8:01pm
Can you see CDS spreads in ProRealTime? Or the GDP of Poland in eSignal? Can you see the yield curve for Bunds? And then check if your idea of buying a steepener would have made you any profit? And countless other statistics which can be mixed and matched as you wish.

Please don't call it useless. Maybe retail traders don't need it. Hedgies, investment bankers or fundamental traders find it cheap to pay $1,500 to get all this info in one place with one interface.

Calling it useless it's like calling a Nikon D3s a useless $5,000 camera. Maybe you can go by with a point&shooter, but some need to shoot pictures for sport magazines.

I've never used a Bloomberg, but I can understand why some would pay for it, especially when they make at least ten-fold that amount per month and they need the best tools available.
  • #9
  • Dec 22, 2010 8:35pm Dec 22, 2010 8:35pm
Quoting Adal
....
This post is yes and no.

Everything stands. I've been in the marketing for some time and most of these firms generally are giving you some kind of a package deal stamped in a branding environment. Non retail traders use their own platforms/algo build upon the services their brokers provide. I'm positive filters I use can't be found on Bloomberg .
Bloomberg services are used mostly for convenience - 1,5k is nothing - it's a 0,99$ iPhone app for rich.
  • #10
  • Dec 22, 2010 8:46pm Dec 22, 2010 8:46pm
Quoting Adal
Can you see CDS spreads in ProRealTime? Or the GDP of Poland in eSignal? Can you see the yield curve for Bunds? And then check if your idea of buying a steepener would have made you any profit? And countless other statistics which can be mixed and matched as you wish.

Please don't call it useless. Maybe retail traders don't need it. Hedgies, investment bankers or fundamental traders find it cheap to pay $1,500 to get all this info in one place with one interface.

Calling it useless it's like calling a Nikon D3s a useless $5,000 camera. Maybe you...
Nobody said it's "useless", and obviously we're addressing the software from the viewpoint of retail forex traders.

And even if you were some institutional trader, for a one time payment to a skilled programmer you could get a platform coded with exactly everything you need to be looking at (with features even more sophisticated) and not have to pay "Bloomberg" $1,500 every month.
  • #11
  • Dec 23, 2010 2:59am Dec 23, 2010 2:59am
Thank you for your answers guys. Even though it looked good I had a feeling this would be close-to useless for a FX.
Measure twice, cut once
  • #12
  • Dec 23, 2010 4:00am Dec 23, 2010 4:00am
well, it's very good when you can use it for free - as a dealer etc...it looks good you are pasting your windows together, news feeds and eveything else you can imagine. but it's nothing i would pay for so much.
  • #13
  • Dec 23, 2010 1:30pm Dec 23, 2010 1:30pm
this one is good but how can we add it to our tally may be big price for the professional platform.........really helpful for everybody
  • #14
  • Edited 4:58pm Dec 23, 2010 1:59pm | Edited 4:58pm
I'd prefer a Lunchpad much more.
  • #15
  • Edited 4:38pm Dec 23, 2010 4:17pm | Edited 4:38pm
Bloomberg charing certainty not 'useless' though a retail trader would need a justifiable reason to invest $18,000/yearly for basic charting software when there are other affordable alternatives in the market.

Sure many Hedge Funds and Banks will get some use out of a Bloomberg app, but we're discussing retail needs and that retail trader would need to 'bring in the dough' consistently in order to justify spending $18K/year.

Bloomberg is a powerhouse in the financial but ProRealTime and eSignal are no push over. I know thousands of retail and institutional traders who uses ProRealTime and I know even more who uses eSignal and all of them are doing just fine spending $100-$300 per month with their tool sets of choice. Now would I invest in a Bloomberg app if I ran multi million dollar hedge fund? Maybe!

Like Marv said, I'd get my own trading app developed with more features if I had $18,000 to throw away. I'd call it the, "Jhig 1000 Always Profitable Trading Terminal" (JHIG 1000 APTT) for short. Technical Studies and EA's not included. lol
  • #16
  • Dec 23, 2010 4:56pm Dec 23, 2010 4:56pm
Quoting Jhig
Bloomberg charing certainty not 'useless' though a retail trader would need a justifiable reason to invest $18,000/yearly for basic charting software when there are other affordable alternatives in the market.

Sure many Hedge Funds and Banks will get some use out of a Bloomberg app, but we're discussing retail needs and that retail trader would need to 'bring in the dough' consistently in order to justify spending $18K/year.

Bloomberg is a powerhouse in the financial but ProRealTime and eSignal are no push over. I know thousands of retail and...
I agree with what you say, Bloomberg is not really useful for retail traders (unless you are the son of a Saudi Arabia prince)

But don't forget that the $1,500 per month also includes a lot of data feeds. All in a common format which you don't need to parse and integrate if you buy them separately.

As a software developer working for a software firm, I can tell you that you and Marv are seriously over-estimating the amount of software that can be developed for $18,000 - this will get you a good developer from a cheaper country - not US or Britain, but neither India, something in between, like my country - for a year. You can't do that much with one good man in one year. You can cover some specialized needs, but in no way will you be able to do something which approaches even the complexity of MetaTrader. And you don't want to bid on an outsourcing site - you'll get crap in return.

I think your argument goes further - why pay for ProRealTime, when you can find a lot of free platforms with good quality free data? Let's face it - most retail traders are in the 95% group. It doesn't make sense to pay another toll for the tools until you are in the mythical 5% group.
  • #17
  • Dec 26, 2010 3:15am Dec 26, 2010 3:15am
Guys not because u cant afford it u drop it ! Bloomberg is for professionals it is not for MT platform traders
  • #18
  • Dec 30, 2010 7:06am Dec 30, 2010 7:06am
Just to add to what everyone mentioned, professional market data terminals like Thomson Reuters Eikon and Bloomberg Anywhere are only targeting institutions, not even wealthy retail let alone retail forex traders.

With such terminals, huge amounts of data are compiled together with hundreds of analytics and functionality integrated. Things like performance, scalability, uptime and the likes are main components of such terminals.

The global multi-asset class nature of those terminals justify the price mark, something which is sure not needed by a retail forex trader focusing on 20 currency spot pairs, their charts and the related economic releases.

Best Regards,

Nader
  • #19
  • Last Post: Dec 30, 2010 9:05am Dec 30, 2010 9:05am
Quoting Rikers
Bloomberg services are used mostly for convenience - 1,5k is nothing - it's a 0,99$ iPhone app for rich.
This. It's pocket change for any trader with 7 figures of capital.

Quoting Jhig
I'd get my own trading app developed with more features if I had $18,000 to throw away
I take it you're a skilled programmer, and the $18k is to cover your living expenses while you develop the product? That's the only way you'd get anywhere near that figure
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