Hi there,
couple of weeks ago on bbc I think there was this documentary where reporter was fallowing to 4 or 5 traders and one of them was talking about some sort of news service that is more advanced, sort of “insider” info about economical events that could help you in trading.
Does any one know anything about such a service?
Is it BS? The guy was mentioning that subscription to such service costs about £1000/month.
Does anyone know specific service provider for those type of news?
[QUOTE=“lauris;661413”]Hi there, couple of weeks ago on bbc I think there was this documentary where reporter was fallowing to 4 or 5 traders and one of them was talking about some sort of news service that is more advanced, sort of “insider” info about economical events that could help you in trading. Does any one know anything about such a service? Is it BS? The guy was mentioning that subscription to such service costs about £1000/month. Does anyone know specific service provider for those type of news?[/QUOTE]
No there legit, but it’s only like 1 minute before not even few seconds and it’s really expensive at least 1200 a month
Stick to forex factory iMO until your more advanced and making enough pips!
Besides Forex Factory, you can also use Bloomberg and CNBC, both have up to date daily currency news.
Thank you for your replies.
I will try to avoid “sucker” trading, sitting in front of the screen all day and try to catch some pips. As much as I understand, that is not a way how retail traders make money in long run.
So those kind of news are not for me then anyway, I do not want to trade relying on catching relatively short swings.
I am not a big fan of Bloomberg either. They usually pick some whatever news and make a big deal/TV show out of it.
I’m guessing that you watched the “Millions by the Minute” documentary?
There was nobody using anything remarkable in terms of charting or news feeds that I could see. The main way I used to use news in day-trading was as a heads-up for volatility. I never used to try and predict the directional effect that news would have, but just used it to tell me when a market might be about to start moving more.
As for “sitting in front of the screen all day and try to catch some pips”, this may well lead you into over-trading. Once again, with daytrading I would trade the first hour (of an equity cash-session, in my case) and that was all - I knew this was where there was the possibility of enough volatility to overcome costs. When does the currency pair that you trade really move?
Hope that helps!
Nick
When it comes to fundamentals, trading is bound to be based on real facts, real news, the imaginary version and the rumor mill version…take your pick. But as far as the reporters claims go, yeah, like that’s happening. And yes, it is BS. There are quite a few news service that provide the latest news, for example like blomberg, and some charge a fee, some do not. Bottom line, you may want to stick with the news you get here for the moment…and after some experience, pay for a select news service…