Trading FX on International News

[Baruch]

Originally Posted by Hayek

It is free but it is late. You can set up an antenna to receive Bloomberg TV s-i-g-n-a-l from . But to see the TV and make decision when do news trading is still late. I think institutional traders have better infrastructure to get news.

My broker (Saxo) has 3 free newswires: Dow Jones, AFX and MNI. All with streaming news.

[Gamma_Jammer]

I don't think the blooberg tv feed on the web is delayed (or at least mine isn't). I've run it while also having my regular TV tuned to the same channel, and the difference is negligible.

GJ

[Hayek]

I have ever used the Bloomberg webtv but never compared it with the regular tv s ignal so I don't know if it is delayed to the regular tv. However, I am sure the webtv is delayed to release when there is a news.

I am using Saxobank's 3 free newswires as Baruch described. I'd say they are more timely than Bloomberg webtv but it still takes averagely 5 seconds for the 3 newswires to pop up messages. Besides, those messages always pile up right after the release time which make the reading a painful work. It normally takes me 5 more seconds to find the real significant figure from those messages. When there are more than one data released at the same time, I have to spend more time. Generally, the fx rates already take off when I finish my reading work. Maybe I have to train myself more for that circumstance so that I can read faster?

Or there must be other ways to get news more timely and efficient. One second can make things totally different when trading news.

[Ray G]

I worked as an FA for Morgan Stanley and we used the DowJones service for news releases and such but I don't recall our live stream for the ticker and such. They had a deal with DJ where we could just hit F6 and pull up on the DJ's wire info.

All of my Fx knowledge so far is academic as I'm still getting my feet wet, but I started off in college as an economics guy so maybe that's why I consider myself a fundamentals person, but you have to pay attention to the technicals because so many people use them. In a nutshell, if a large percentage of the traders in a certain market are going to buy/sell at a certain time as dictated by a widely regarded chart strategy, you have to be able to react to it.

[fxintra32]

I checked Bloomberg website, it's actually pretty good. Is this what the pro's use?

Gamma Jammer you mentioned, to understand fundementals is really complicated. You got any tips to help understand fundamentals, Not what they are. I mean about Revisions, how gold, oil, etc... has and effect aside from the U.S news.

And for statements. I recalled last month's U.S Interest Rate didn't create movements because of certain statements made. I would like to understand these kinds of things.

I'm starting out, and I'm trying to understand all these factors.

and is the Bloomberg TV or radio (on the web) ok to use as traders? Or should I pay for esignals?

[Ray G]

I'm too new to give detailed advice, but I'm a long time economics student and this is what I've seen and done.

After reading a futures/fx/comd'ty magazine, and noticing that each article seemingly contradicted the next one, I just went back to my favorite econ text by Gwartney, Stroup and Sobel. Excellent text. Anyway, I reread the section on currency, made some mental notes and now I'm trying to decipher which affects are stronger and why.

Domestic influences seem to push one direction, foreign influences seem to push the other, . . there's a lot to learn but I don't think it's rocket science. I think it's my inordinate passion for economics that made Fx so attractive to me in the first place.

[4xis2ez]

Originally Posted by fxintra32

I checked Bloomberg website, it's actually pretty good. Is this what the pro's use?

Gamma Jammer you mentioned, to understand fundementals is really complicated. You got any tips to help understand fundamentals, Not what they are. I mean about Revisions, how gold, oil, etc... has and effect aside from the U.S news.

And for statements. I recalled last month's U.S Interest Rate didn't create movements because of certain statements made. I would like to understand these kinds of things.

I'm starting out, and I'm trying to understand all these factors.

and is the Bloomberg TV or radio (on the web) ok to use as traders? Or should I pay for esignals?

FXintra32
A word of advice. Do not concern yourself with what the economic report numbers are. If you concentrate on that you'll get creamed. Trade only the price chart and how PRICE reacts to the news.

[Baruch]

Originally Posted by 4xis2ez

FXintra32
A word of advice. Do not concern yourself with what the economic report numbers are. If you concentrate on that you'll get creamed. Trade only the price chart and how PRICE reacts to the news.

Yes and no. With the big economic reports you can trade the numbers, because the fundamentals will always win in the end.