Is the Bloomberg terminal worth it for forex trading? | Forex Factory

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Is the Bloomberg terminal worth it for forex trading?

  • #1
  • First Post: Mar 13, 2016 1:48pm Mar 13, 2016 1:48pm
Hi all,

My question here is simple; Bloomberg Terminal, worth for trading forex, yes or no ?

I got an access to the terminal in my school, and i was wondering if it would give me much more precision about my trades ?

Thanks!
  • #2
  • Mar 13, 2016 2:05pm Mar 13, 2016 2:05pm
Not worth it, price action will be exactly the same on Bloomberg or any other charting software.
softwares will not make you a better trader, sure, they might claim that,
but thats because they want to sell you their stuff right.
Bulls are stupid Animals!especially when Im short!
  • #3
  • Mar 13, 2016 2:17pm Mar 13, 2016 2:17pm
does it connect to Bloomberg himself?
it rubs the lotion on its skin
  • #4
  • Mar 13, 2016 2:24pm Mar 13, 2016 2:24pm
There's a reason why it exists along with Reuters! These terminals whilst expensive are the only way to access intense inter-market analysis, over-lays, a whole raft of things that you just can't get for free off the internet of a bog standard retail trading platform.
  • #5
  • Mar 13, 2016 4:01pm Mar 13, 2016 4:01pm
not worth it...unless you want to impress your girlfriend that you are a hardworker...and deserve some....
practising coitus interruptus
  • #6
  • Mar 13, 2016 4:24pm Mar 13, 2016 4:24pm
Quoting big-cheez
does it connect to Bloomberg himself?
yes sure

Quoting avibe
not worth it...unless you want to impress your girlfriend that you are a hardworker...and deserve some....
haha, made me laugh
  • #7
  • Mar 13, 2016 10:00pm Mar 13, 2016 10:00pm
Save the money and spend it for a nice vacation.

Unless you wanna become a Bloomberg sucker.
  • #8
  • Mar 14, 2016 12:58am Mar 14, 2016 12:58am
then why Bloomberg terminal expensive? do they alert price at least 5 sec before?
Patience is best EA in Trading
  • #9
  • Edited 1:26pm Mar 14, 2016 2:32am | Edited 1:26pm
hmmmno.
  • #10
  • Mar 14, 2016 4:20am Mar 14, 2016 4:20am
No UNLESS you have several thousand dollars each month to burn just for the hell of it. The terminal offers nothing of value for us retail forex traders. It offers largely quantitative and risk management models that's more geared towards portfolio management, way above our pay grade.
Make your losses in demo. Earn your profits live.
  • #11
  • Mar 14, 2016 10:01am Mar 14, 2016 10:01am
I would not buy it for sure. It's just that I got the access to the terminal for free at my school.

Thanks for your replies tho
  • #12
  • Mar 14, 2016 12:35pm Mar 14, 2016 12:35pm
No wonder so many of you fail at everything. Zero reading comprehension. What part of having access to the terminal at school does that translate into the OP spending a dime for it?

Now let's see how many post after this one will again be along the lines of not worth the money. I will bet 100% of my trade capital at least 2 more before thread death.
SPC * Swollen PocketZ Crew!
  • #13
  • Apr 3, 2016 4:17pm Apr 3, 2016 4:17pm
It's a pretty weird question in the first place. No wonder 90% of the responses are against it, same number as losers versus winners, hmmmmm. Also you get what you pay for, ever asked yourself why do large private traders pay for Reuters or Bloomberg? What can you get for free off the internet that gives you an edge? How many of you have actually tried a terminal? It's a bit like saying you wouldn't date a super model, it's not worth it. How would you know?
  • #14
  • Apr 3, 2016 10:44pm Apr 3, 2016 10:44pm
Depends how much $$$ you are moving in the market. If you manage a $100 million USD fund, sure it's worth it. If you want to impress people just have metatrader open on a couple of monitors and everyone will think you're the shit. Even a couple of demos and the average layperson would think you're a BAMF.

I believe it is $24,000 USD per year for the terminal.

The Bloomberg terminal: clunky, costly, addictive, ubiquitous:
http://www.ft.com/cms/s/0/5d6c2d9c-1...9974f25d0.html

--- Jacques
Holy grail: risk management
  • #15
  • Apr 3, 2016 11:10pm Apr 3, 2016 11:10pm
Yes if you are making over 100k per month.
20 Pips a day keeps centerlink away
  • #16
  • Apr 4, 2016 1:42am Apr 4, 2016 1:42am
Quoting agyo
Hi all, My question here is simple; Bloomberg Terminal, worth for trading forex, yes or no ? I got an access to the terminal in my school, and i was wondering if it would give me much more precision about my trades ? Thanks!
if you already trading without it, why get it? Do you think it will give you an edge?
All posts are my personal opinion
  • #17
  • Apr 4, 2016 1:46am Apr 4, 2016 1:46am
Quoting PaulDaemon
Yes if you are making over 100k per month.
even then, how did you get to making 100k a month without it? Luck?
All posts are my personal opinion
  • #18
  • Apr 4, 2016 1:49am Apr 4, 2016 1:49am
Must say I was impressed with it when I used it for a few months (at an academic institution). Bit clunky but a shitload of info all in the one spot, almost anything you can think of. I would not fork out 25k a year for it though.
Corripe Cervisiam!
  • #19
  • Apr 4, 2016 2:06am Apr 4, 2016 2:06am
Quoting Rtm
{quote} even then, how did you get to making 100k a month without it? Luck?
well lets say you are trading a million $ account and making 10% per month, that would do it ,or if you are an account manager and have numerous clients.
20 Pips a day keeps centerlink away
  • #20
  • Apr 4, 2016 2:10am Apr 4, 2016 2:10am
Also you wouldn't have to come to FF anymore
20 Pips a day keeps centerlink away
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