Who would pay 10$ a month to have access to a news terminal? | Forex Factory

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Who would pay 10$ a month to have access to a news terminal?

  • #1
  • First Post: Jun 18, 2016 11:45pm Jun 18, 2016 11:45pm
Hi all!

For the sake of discussion, who would pay 10$ for a very simple but powerful news terminal (some way like Down Jones wire news) but for us forex trader?

To be frank, since like 7 years I trade, there is no one website I comeback to throughout the years.... (beside forexfactory ;-), they both publish an awesome calendar and some interesting articles). Most of other websites on the long run are messy...

So I am talking here about a powerful tool, yet simple, which could help us in a blink of an eye to now where are markets presently and what various sources of professional information say about them, and dedicated to forex trading. Most of the information published on it being fundamental, and not technical because today there are so many technical analysis that we don't know any more where we are going (too much, it's like not enough).

Tell me what you think!

Cheers!
  • #2
  • Jun 19, 2016 2:10am Jun 19, 2016 2:10am
I think ransquawk offer a forex channel, though that's audio.
  • #3
  • Jun 19, 2016 3:15am Jun 19, 2016 3:15am
I don't buy it. forexlive.com and Twiter feeds are just enough for majority of Forex traders. Even you have access to Bloomberg terminal, I don't think it can give you any edge.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #4
  • Jun 19, 2016 3:53am Jun 19, 2016 3:53am
Quoting heispark
I don't buy it. forexlive.com and Twiter feeds are just enough for majority of Forex traders. Even you have access to Bloomberg terminal, I don't think it can give you any edge.
It is not a problem of getting the edge, on that point all financial news are pretty much the same.... and regarding your thoughts on bloomberg I think the same...

It is about having an affordable monitor (terminal) which give in one window pretty much all what we need to know today, in a clean working environment.

I am pretty sure that almost all traders scroll the web through various websites to find what they need, because for us (at that level) in the forex game, there is not all-in-one solution to access information of quality and well written.

Professional, who know their games in investment, do not need Bloomberg, Dow Jones or Reuters for an edge.... They have their own edge in how they interpret the events happening, they simply use this kind of terminal solution for the ease and peace of mind to know where to look for the info, that's it.
  • #5
  • Jun 19, 2016 5:08am Jun 19, 2016 5:08am
I use a stand alone software that tells me the news of the day and lets me set alarms prior to releases. Since I do not write news releases, nor have any idea what they will say, I simply choose to avoid trading any that might impact market direction. My SWOT "W" is news, so therefore I do not attempt to trade it. Really, it is not necessary as there are plenty of pips available without taking blindfolded risk. So, to answer your question, I could care less what anyone thinks will happen. I just exit, wait, and reenter. Much simpler and requires no guessing. Why predict? Your trades have 0.00 influence on the market, so you should be concentrating on following the money. You cannot follow it if you are in front of it. Good Luck.
You cannot be extraordinary by being normal
  • #6
  • Jun 19, 2016 7:35am Jun 19, 2016 7:35am
Even if interesting, that is the kind of answer which discourage me (and maybe many other) to have any sort of conversion in the forum on forex.... There are plenty of things to answer to that, and at the same time nothing to answer to that... That is the old "dialogue" which say "I only trade the price.... and not the news..." making reference to "trading the news" aka "trading the news release"... and we will not waste out time to talk on that topic, which has been already very much exploited around here...

BUT ONE TIME FOR ALL, that anybody who thinks that to develop a fundamental idea on a market, and to trade on it, is a fool game, understand that it is fine for them, and nobody try to seduce them with any other methods.

Peace!
  • #7
  • Edited 8:15am Jun 19, 2016 7:53am | Edited 8:15am
This depends very much of the quality of the news "channel", and what it can be used for. Traders expect such for free now, everything gets free, even signals and EAs. So I dont think traders would pay for this.

But if the news were reliable, and could be integrated into an environment where you could use these news in technical indicators, for automation of the news trading, yes traders would pay. But this will require a historical feed, since we need to backtest using the feed. We have been in the market for such feed for some time.

PS: If anyone knows about such news feed, drop a message.
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  • #8
  • Jun 19, 2016 8:28am Jun 19, 2016 8:28am
Quoting ECOportal
This depends very much of the quality of the news "channel", and what it can be used for. Traders expect such for free now, everything gets free, even signals and EAs. So I dont think traders would pay for this. But if the news were reliable, and could be integrated into an environment where you could use these news in technical indicators, for automation of the news trading, yes traders would pay. But this will require a historical feed, since we need to backtest using the feed. We have been in the market for such feed for some time. PS: If anyone...
Thank you for the answer, then that underline some interesting questions. Could you give an example of such news? Are we talking about economic news releases or more complicated content such as a whole paragraph which could be used to feed a more complex algorithm?
  • #9
  • Last Post: Jun 19, 2016 9:18am Jun 19, 2016 9:18am
Quoting bccorp
{quote} Thank you for the answer, then that underline some interesting questions. Could you give an example of such news? Are we talking about economic news releases or more complicated content such as a whole paragraph which could be used to feed a more complex algorithm?
Sure we havnt been in contact before ? Asian provider with office in US ?

This could be any kind of news, but has to be linked with a currency pair or currency. For example, Brexit news would influence all currency pairs having GBP in it. And to some extend those having EUR. Simply an info that there is a news, with a time-span on it, 0 is now, different from 0 mean its an upcoming news. Perhaps having a number from 1-10 of the importance of this news for the currency. This would be very useful for the traders.

Correction; Actually such news dosnt have to be linked to a currency or pair. The trader should him self discover how to use the news - he may find ways we havnt thought about.

But if you havnt logged this news for at least a year, or can collect this data, then its not usable.
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