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bloomberg terminal

  • #1
  • First Post: Aug 7, 2012 2:22am Aug 7, 2012 2:22am
Dont know is this the right section of forum to be asking but is there any chance to get hands on demo account bloomberg terminal,even for short time ?as i noticed it runs on windows,so basicaly you dont need fancy stuff as their twin monitors or special keyboard.Now obviously i dont have funds 1500e per month,but would like to feel and explore a real terminal.thanks for anyone who can give a hint.peace
  • #2
  • Aug 7, 2012 11:29am Aug 7, 2012 11:29am
You will have to contact Bloomberg Sales via telephone to discuss a trial and they won't just give you one at request, they'll need some info about you. Same thing with Reuters.

It ain't easy as a MT4 demo lol
  • #3
  • Aug 7, 2012 12:27pm Aug 7, 2012 12:27pm
Does Bloomberg news feed provide real time stop and large order levels?
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  • #4
  • Aug 7, 2012 2:28pm Aug 7, 2012 2:28pm
Quoting Pipanator
Does Bloomberg news feed provide real time stop and large order levels?
Yes, but I like Reuters more for FX.
  • #5
  • Aug 7, 2012 8:17pm Aug 7, 2012 8:17pm
Quoting Pipanator
Does Bloomberg news feed provide real time stop and large order levels?
My view is no. Stop and order levels do get reported in the news but usually as an aside and is hardly "real time".

One value-add is in the relationships developed with interbank pros via their secure messaging systems. That's where the inside info comes from. Retail traders won't ever get on these guys' PM call lists unless they are customers.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #6
  • Aug 8, 2012 6:29am Aug 8, 2012 6:29am
well contacted the sales team,by email,didnt give my real phone number as i hate when every broker tries to call and shift their products to you,so got an email that guy tried to call me and if i want he or i can call him back and discuss the matter :/ ,so yes i guess its possible to get trial acess to their terminal but as poster above said will need to give your details and why you interested and then they may grant you one ,same tried with light speed trading platform as they offered trial,first time they wanted also to speak on the phone but a while later got my pass and login for their platform but with very little access to the main tools and exchanges,stock lists and so on,besides that the platform didnt offer anything besides stocks and few indexes,and incredibly complicated platform to use with millions options to configure it.Might try reuters
as im light years away from affording any type of real broker,id still like to get the feel how the pros trade and see the market ,and what advantage do they get over retail brokers using the expensive terminals,with all the feeds and info in one place :]
  • #7
  • Aug 8, 2012 8:17am Aug 8, 2012 8:17am
Bloomberg is not a broker service. Neither is Reuters, for that matter. They're respected financial news and data providers. They are not like your typical two-bit retail broker.

Sure, they provide trading platforms for market-making Banks to provide deal-able trading prices. But the prices are only commonly available to other interbank counterparties who have mutual trading/credit limits with these market maker Banks.

AFAIK, for as long as I've been using them before, Bloomberg and Reuters do not make a cut from the transactions, altho I'm sure they charge the market makers a fee for hosting their prices.

These services are not for the retail trader unless they're high net worth traders who can afford the mandatory 2-year minimum subscription, often with a 6-month notice period imposed for any cancellation.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #8
  • Aug 8, 2012 8:43am Aug 8, 2012 8:43am
Quoting skenobi
My view is no. Stop and order levels do get reported in the news but usually as an aside and is hardly "real time".

One value-add is in the relationships developed with interbank pros via their secure messaging systems. That's where the inside info comes from. Retail traders won't ever get on these guys' PM call lists unless they are customers.
Well 2 other agencies I have seen with my own eyes they do provide stop levels in real time regularly and large bids and offer levels.
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  • #9
  • Aug 8, 2012 9:08am Aug 8, 2012 9:08am
Quoting Pipanator
Well 2 other agencies I have seen with my own eyes they do provide stop levels in real time regularly and large bids and offer levels.
Which "agencies"? And whose stops? Do they provide order size info as well?

Because if I were a Big Bank leaving my stops with a particular "agency" and I found out my order sizes are no longer anonymous, I'd be right pissed, and that "agency" would not last long in the business.

EDIT: A better question to ask: Has this "inside" info been at all helpful in making the trader any money on a consistent basis?
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #10
  • Aug 8, 2012 9:12am Aug 8, 2012 9:12am
Talkforex.com usually updates traders with inside info like large orders and stop loss levels (not there 100% accurate all the time) also Market News International a qualified CTA told me. I guess a few companies out there do the same just wondering which ones.
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  • #11
  • Edited 7:00pm Aug 8, 2012 9:55am | Edited 7:00pm
Quoting Pipanator
Talkforex.com usually updates traders with inside info like large orders and stop loss levels (not there 100% accurate all the time) also Market News International a qualified CTA told me. I guess a few companies out there do the same just wondering which ones.
Well, like you said, "not 100%".

Let me tell you my ideal requirement. If I was a retail trader, I would only like to know the following:
1. Is a central bank placing any large order?
2. (if so, what's the size?)

Notice that I'm not interested in knowing if any big Bank (e.g. Goldman Sachs, UBS, Citi etc) has any orders or not. I would say a large portion of their orders are option hedging-related and are usually too nebulous for a trader to even bother with.

You can know the size and/or the price at which the orders are placed, but what you will never know is if the trader BEHIND those orders have the will or the staying power to see the orders thru the end.

Order levels and sizes can change rapidly and I doubt the trader will waste time updating his "agency" contacts on any changes. Plus he risks losing his job if he continues to divulge such confidential information.

I don't use Talkforex so I can't comment on it (did you actually mean "talkingforex"?). I have an MNI subscription and I don't feel the information on there is any better than my own Twitter feed following.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #12
  • Aug 8, 2012 10:04am Aug 8, 2012 10:04am
Im using 2 feeds,athough today talking forex has just closed my live feed and is asking for me to join,um iv had it six months free.the other i have isforex live .from the two talking forex was the best.instant news releases and data results.

the benifits ive found,

daily option strike price and expire times,
instant bond auction results
all data releases instantly
rumours of large resting orders
open interest from large institutional banks
clearing houses objectives

if the information is unconfirmed and rumour they state that,i personaly dont trade the feeds, but it confirms p/a that i may scratch my head about.i use it to help in decisions making,i take it as a whole and it can help to build a daily sentiment.having said that it could be information overload and confuse some.but personly i like all the information possible to build my picture.

im sure if you pay ,there are far better feeds available.
  • #13
  • Aug 8, 2012 10:14am Aug 8, 2012 10:14am
Quoting diceman555

if the information is unconfirmed and rumour they state that,i personaly dont trade the feeds, but it confirms p/a that i may scratch my head about.i use it to help in decisions making,i take it as a whole and it can help to build a daily sentiment.having said that it could be information overload and confuse some.but personly i like all the information possible to build my picture.

im sure if you pay ,there are far better feeds available.
Forexlive is ok, and I agree talkingforex is pretty good. It would be better if talkingforex is on 24 hours, but it's better than nothing.

At the end of the day, though, it looks like the slope of my simple moving average gives a more reliable sentiment indicator to me, while consolidation ranges will likely show where the orders are. Any more information, and I end up second-guessing myself instead of pulling the trigger.

To each his own.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #14
  • Aug 8, 2012 10:24am Aug 8, 2012 10:24am
Quoting skenobi
Well, like you said, "not 100%".

Let me tell you my ideal requirement. If I was a retail trader, I would only like to know the following:
1. Is a central bank placing any large order?
2. (if so, what's the size?)

Notice that I'm not interested in knowing if any big Bank (e.g. Goldman Sachs, UBS, Citi etc) has any orders or not. I would say a large portion of their orders are option hedging-related and are usually too nebulous for a trader to even bother with.

You can know the size and/or the price at which the orders are placed, but what...
Who is worth following on twitter...I was about to make an account.
  • #15
  • Aug 8, 2012 12:58pm Aug 8, 2012 12:58pm
skenobi,

Interesting info you have how would you know the market has a large order or not except through historical large moves at those price levels? Is there a service or software like time and sales can tell you? The guy I got info from about the stop and order levels have been doing it for years. By the way whats your twitter feed?

Diceman sure the more info the better it doesnt mean you will use it having it available and then seeing if it works for you or not is what its all about.
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  • #16
  • Aug 8, 2012 6:35pm Aug 8, 2012 6:35pm
Quoting pinkiaiii
Dont know is this the right section of forum to be asking but is there any chance to get hands on demo account bloomberg terminal,even for short time ?as i noticed it runs on windows,so basicaly you dont need fancy stuff as their twin monitors or special keyboard.Now obviously i dont have funds 1500e per month,but would like to feel and explore a real terminal.thanks for anyone who can give a hint.peace
I have worked many years using the Bloomberg terminal and I can tell you this:

1 You do need the fancy stuff because in fact you lease the terminal.

2 It is not possibe to only use the software unless you use Reuters Eikon.

3 The terminal only adds value when you base your trading decisions based on fundamental analysis.

4 I must tell you that without a CFA-charter or a good economic background you won't be able to take advantage of the fundamental analysis.

5 Beside the amount you pay for the lease there is also a bill for a lot of exotic data for options and stocks.

6 The only advantage I can think of for a retail traders is the chatter where all the news agencies get their rumours and market talk from. You could also start a new rumour but be sure to only keep it about FX unless you want to talk with the SEC.

7 The terminal is only a tool, read some books, do more analysis because that is the only way to improve your trading skills.
  • #17
  • Aug 8, 2012 6:57pm Aug 8, 2012 6:57pm
Quoting M-H Trader
Who is worth following on twitter...I was about to make an account.
Offhand, I'd recommend:
FXMarketAlerts
FXStreetNews
DailyFXTeam
JOELKRUGER
FortisAnimus
ForexLive
zerohedge
ForexWire
djfxtrader
dealbook
MNIAsia
economonitor
forexedgenews
clusterstock

Some are for breaking news stuff, the rest is just economics stuff, which I still read (sometimes), mostly for entertainment. There are others of course, but I can't give EVERYTHING away, can I? LOL

Quoting Pipanator
skenobi,

Interesting info you have how would you know the market has a large order or not except through historical large moves at those price levels? Is there a service or software like time and sales can tell you? The guy I got info from about the stop and order levels have been doing it for years. By the way whats your twitter feed?
I don't know anything about any "historical" levels. I prefer not to burden my brain cells memorizing such things.

I had access to info from my counterparties who would drop hints during PM conversations. But I almost always never use them, because I can usually SEE those order levels with my own eyes on the charts themselves, well before I'm told that there ARE indeed orders there.

AFAIC, if I see a consolidation range testing particular levels, then it's likely there are orders being worked or levels being defended.

The orders themselves don't even NEED to be large, and that's the beauty of it! Even in poker, you don't even need the best hand (or know who has the best) to win!

You can depend on traders all over the world (retail and interbank) to behave in a herd mentality until somebody out there chokes and takes spot outside the range again.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #18
  • Aug 10, 2012 12:16pm Aug 10, 2012 12:16pm
Quoting swingtraderf
I have worked many years using the Bloomberg terminal and I can tell you this:

1 You do need the fancy stuff because in fact you lease the terminal.

2 It is not possibe to only use the software unless you use Reuters Eikon.

3 The terminal only adds value when you base your trading decisions based on fundamental analysis.

4 I must tell you that without a CFA-charter or a good economic background you won't be able to take advantage of the fundamental analysis.

5 Beside the amount you pay for the lease there is also a bill for a lot of exotic...
thanks this is truly honest response so far,probably i wont ever trade beyond spread betting brokers like oanda or alpari and other crap out there,as in two years i have only loses .But only reason that i wanted to try it as one would want to sit in a Ferrari or Lamborghini seat once,that kind of thing you know ,childish i am
  • #19
  • Aug 10, 2012 5:29pm Aug 10, 2012 5:29pm
Interesting, please elaborate on point ~18 - One eye? Whats that all about?
Tracking the Specialists.
  • #20
  • Aug 10, 2012 6:01pm Aug 10, 2012 6:01pm
Quoting Connected
Interesting, please elaborate on point ~18 - One eye? Whats that all about?

http://en.wiktionary.org/wiki/in_the...ed_man_is_king
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