bloomberg channel good enough?

[xxfunguyxx]

Hi guys,

Just wanted to ask if bloomberg channel is good enough for the fundamentals? thanks

[richrichie]

Hey FunGuy

Sorry man, I feel that the information that comes from the charts is enough to trade on. Technicals, Yes ,but fundamentals, not for me, When it hits Bloomberg, the news is too old. The charts speak the language and that is all one needs to trade on.

[merkel04]

Always good to keep track of when a news event is coming up. I use Forex Calendar @ Forex Factory. The filter is good for cleaning out currencies you don't trade and what not.

[mike1349]

Originally Posted by merkel04

Always good to keep track of when a news event is coming up. I use Forex Calendar @ Forex Factory. The filter is good for cleaning out currencies you don't trade and what not.

Hi Merkel,
I didn't get what is filter.Would explain a little bit more.
Thanks
Mike

[dpaterso]

Hello - my trillion dollars worth again:

I have Bloomberg and CBNC Europe on all the time in my office to try and keep a handle on things.

I'll tell you one thing though - from past - very bitter - experience - NEVER open trades based on what ANY of their analysts say - LOOK AT THE CHARTS - LOOK AT THE CHARTS!!!

At one point I actually removed my (then one) TV from my office but I have put it and another back now!

You'll find my post about this somewhere on the forum.

Basically I was watching Bloomberg one Thursday or Friday night and they had not one, not two, but three 'experts' or 'people in the know' or . . . (you get the picture) saying that Gold was going to at least $700 an ounce within a day or two (if I remember correctly it was sitting at around $682 an ounce at the time). So - what did I do? Guess? Every chart was telling me it was going down BUT hey - there are these people on TV - they should know? Well let me put it this way - Gold went down, and down, and down on the very day that THEY said it should have been at 'at least $700 an ounce'. Gold has never even sniffed the $682 mark since that day let alone $700!!! This cost me big time because at the time I refused to trade with stops (you have no idea how much I have learned in the past five or so months and what my 'tuition' fees have been but safe to say it looks like I have finally got it right - but that's another story for another time).

Anyway - to be more specific - they are both good. I find CNBC to be more 'entertaining' as it were than Bloomberg (although I love the little Asian guy that covers the Asian Sessions on Bloomberg in the early hours SA time). Bloomberg also has great ads! I love the one where you hear a scream coming from somewhere in a dealers office while they display a counter with pounds rolling down like a slot machine! There is also a good one where an old guy sits in a chair and says something like 'How much money are you making?' - 'Good day, bad week, good week, bad month' - etc. etc. etc. I always feel guilty when I watch this ad! It's like he's talking to me!

Enough joking around: CNBC Europe (obviously) covers the European market very well and because I have settled on the DAX it suits me well. Bloomberg is really better for the US and Asian markets and I do know that to get Economic Data coming out Bloomberg is top notch i.e. always on time within seconds JUST not quick enough to give you an inside edge (if you want to wipe yourself out trading news that is)!

Anway - like I said - that's my three trillion dollars worth!

Regards,

Dale.

Oh did I mention - LOOK AT THE CHARTS!

Oh - and I think merkel means that with the Forex Factory Calendar you can exclude currency pairs from the display that don't interest you. Is that a good idea? I mean - all of these things are inextricably linked to each other in one way, shape, or form are they not? Forex Factory's Calendar is nice though - believe it or not I have learned a lot just by reading their popup help or prompt screens and they display good or bad or better than expected or worse than expected results in either green or red - easy to read! Also - in most cases - the results are linked to either a forum discussion about the results or to the official results page - very nice.

Another site that I started checking a while ago now on a daily basis is AASTOCKS.com ~ Wall Street Intelligence at your Fingertips! Don't forget about China!