Data delay, any fast feeds out there?

[peteuk]

I don't usually trade news/data but yesterday has me thinking! I was long cable anyway when the (worse than expected) US data came out and took an extra 50 pips, but the delay in actually seeing the numbers meant the move was over by the time I could see the actual figures, or had they been better than expected I would have been able to get out quickly.

Are there any sources where I could see the numbers as soon as they are released? Free would be good, but a good reliable source would be worth paying for.

Cheers
Pete

[Wallace]

Hi Pete, don't know about anyone else but North America has access to the tv business channel CNBC, faster than the news service I have, isn't there a UK version via Sky (?).
Also check if there's a US business/all news radio station that you could pickup via short wave. Try a web search for stations, Radio Shack, Dixons etc for the radio. Wallace.

[jpmorgan]

Blooomberg, costs big money, but that's what the pro's use.

[WinSum]

Briefing.com and Dow Jones Newswire are pretty good. They are both fee based.

If you want a free service, try to see if you can find a FX chatroom that have a good mixture of global traders. The yanks can post the news in the chatroom as they see the breaking news on CNBC.

Let me know if u find such a place. I join too.

[gregh285]

peteUK,
i have posted a new thread with the same intent called "fastest finger first". I have had some excellent results over the last few weeks trading news, with gains of 20-40pips, especially last week on the weekly jobless and this week with consumer confidence.
You are right about timeliness of information, the bloomberg terminal would be quickest, but bloomberg TV is not far behind. I have started to build up a database of news release versus price action. You have only a matter of seconds to react.
The other crucial part of the equation is no requotes from the broker which is what i am presently trying out. I am using FXsol who requote but still at a fair asking price. The only other broker that i am familar with who offer instant execution, no requotes is GAIN, i will test them in the next few weeks.
CNBC news is available on Sky.
Dow Jones News is free with some stockbrokers, see djnewswire.com

[peteuk]

Wallace: Thanks for the suggestion, tried a search but came up empty. My next door neighbour has just had Sky installed, maybe time to be a bit more neighbourly!

jpmorgan: Mega bucks for a Bloomberg or Reuters terminal, plus I'm not sure they'd allow a sole trader to have it. I have Bloomberg radio on in the background most of the trading day but it has a one minute delay which defeats the object really, my broker gets the data out quicker on the platform, thanks for the idea though.

WinSum: Finding a forum is a good idea. I came across Forexnews.com a while ago but the chat is so distracting with all the oposing views it could be impossible to decide on a trade! Fairly good site though, and the natives seem friendly!

gregh285: I'll have a wander over to your thread in a minute. I did it again today trading news, an extra 65 pips on Swissy on a long position I was about to close. Seconds? More like milliseconds, the price is like a dragracing car ready to take off jerking backwards and forwards and then it's like a rocket, not good if you're on the wrong side of the trade though I guess! I've just changed brokers to CMC Deal4Free and so far no requotes or delays getting filled even at volatile times but it's early days yet, and decent spreads on the majors, 4, and 3 on eur/usd. CNBC would do it, my neighbour has sky, I wonder if I could plug a extra lead into his dish Nah, I'd spend all night watching porn!

Thanks for the ideas guys, I'll post if I get anything good set up.

Pete

[gregh285]

peteUk
i would apreciate your input on CMC,
I was thinking of using them at the start, but they could not handle OCO orders which i found frustrating.
How do they compare with forex-specialist brokers.
Both the Euro and Cable took 5 mins to trade to their lows post news at 08.30EST (jobless) and 10.00am (pmi), although the majority of the move was made in the first minute.
More news tom. at 08.30est and 10.00est.

GL & GT

[peteuk]

gregh285

I've not been with them for long but there's a noticable difference between them and my last broker. I don't get the feeling I'm being fleeced for stops like I was before (was probably just my imagination), the platform and IT support are both very good, IT support guys are actually friendly! There are the usual bits and pieces on the new platform (MarketMaker v?), open trades, closed trades, margin used and available, equity etc, and orders for market, OCO, if done, limit, stop. Their charts are rubbish though, I've emailed them about it and apparantly they're planning to have an improved charting package available soon, we'll see, but at least they replied to my email within 30 minutes! News release is about average, with average delays.

Being in the UK I liked the idea that they're based/registered in London and FSA regulated, office opening times are GMT, and most of the staff are Londoners!

In comparison to forex-specialist brokers I think not having all their eggs in one basket means they have an income stream from sources other than forex which in turn means their tight spreads don't neccessarily mean re-quotes and slippage, neither of which I have experienced over about 200 trades with CMC.

Hope that helps

Cheers
Pete

Forgot to mention account opening was fairly straightforward, the usual couple of ID's, although it took a day to get it through the compliance officer (not sure why, maybe standard procedure for FSA regulated co's). The easiest way to credit the account is by debit card over the net or by phone, but I tranfered funds initially by TT which took a few days, banks eh! Funds the other way are easy, TT within a few hours of the request as long as they have a completed transfer form on file. There you go, that's my ad for CMC