Poll: How much $ do you on Trading tools and resources monthly?

[Lon Eagle]

Quote from Nana Trader:

How much charged for reuters 3000? Did you get it
personaly, or using shared through some trading
desk at a trading firm?

Have you ever compared it like how faster "Minute wise"
you get the news than other services say like Dow jones
news wire which is around $100?

The different type of Reuters are roughly between $500 and $1000 per month - depends what deal you can negotiate.

I havent heard of Minute Wise but will check it out, thanks. I used to get DJ news direct but found on figure releases it was about 10-20 seconds slower than the other vendors.

 

[buzz]

Quote from Nana Trader:

Usually when strong news has already comes out ,
market don't go any higher after public awarness,
and it might do choppy moves.

This strategy is a loser, because you end up seating
in that trade (against trend) and experience big lose
or you will get stopped out easily.

If i can find any news that is faster than other news
Like DJ news wire by several minutes, i will definitely
pay for it unless not extremely pricey

Well it works well for me.Of course I let it run a bit before I go short. Im on about the 9.30 reports USA time

buzz

 

[Remiraz]

$0 to $10.
I love IB.

Internet - I share the family wireless broadband line.

 

[MajorUrsa]

Quote from Lon Eagle:

The most important two things I spend money on are Bloomberg and Market News. About to trial Reuters 3000 as I honestly believe having fast news give you an edge.

Could you explain how that works, because my feeling is that most important market participants use the same, fastest news sources and will be at least at fast as you in their reactions. How can you make a difference compared to the large amounts they're trading?

Ursa..

 

[cmk]

Quote from Lon Eagle:

The most important two things I spend money on are Bloomberg and Market News. About to trial Reuters 3000 as I honestly believe having fast news give you an edge.

As a longtime Bloomberg PS user who recently has been using Reuters for a few things, i will tell you to not even screw around with Reuters. Reuters does not compare at all to a bloomberg terminal and someone who knows how to use it.

 

[Nana Trader]

Quote from Momento:

for those of you that voted for $10000+ do you include your mortgage or apt rentals fee aswell !?!

Very curious how anyone can reach more than $5000... not even an institution can reach that level.

No, they don't. It's not just a home business, look at

7-Office rental or web site related cost for runing Trading
business
8- Any managed funds costs, fees and % commissions
for net profit

Let say if someone has invested total $1Million with several
registered hedge fund with 2 times leverage, and return
of 35% on return on investment ROI would be $700k
a year.

$700k / 12 monthes=$58,330 monthly
if 20% goes to hedge fund then
$58,330 * 20%=$11,666 is his monthly expense for
his fund managed

 

[Nana Trader]

Quote from Lon Eagle:

The different type of Reuters are roughly between $500 and $1000 per month - depends what deal you can negotiate.

I haven't heard of Minute Wise but will check it out, thanks. I used to get DJ news direct but found on figure releases it was about 10-20 seconds slower than the other vendors.

I don't think 10-20 seconds makes any different,
we rarely see big move even in 1 minute candle.

I think best news feed should be at least 2-3 minutes
faster than what other average retail traders get their
hand on it

 

[Nana Trader]

Quote from cmk:

As a longtime Bloomberg PS user who recently has been using Reuters for a few things, i will tell you to not even screw around with Reuters. Reuters does not compare at all to a bloomberg terminal and someone who knows how to use it.

I knew a guy who was using reuters for scanning, and he
was recommanding it. What is Bloomberg PS, and would
you give some tips how you use the service?

 

[Remiraz]

Quote from chud:

Don't you need at least more than 1 day backfill?

We don't need more than 1 day's backfill because at the end of everyday we can export the day's data out in CSV format.

Do it everyday and it'll be the equivalent of backfill everyday. XD

 

[Nana Trader]

Quote from Remiraz:

We don't need more than 1 day's backfill because at the end of everyday we can export the day's data out in CSV format.

Do it everyday and it'll be the equivalent of backfill everyday. XD

Not everyone can do that, or some don't even know
how to do it. Because IB data is free, it's giving you
cost saving advantage to have another data feed for
backup, testing and other purposes.

It seems that most using IB feed+ QT only, may be it's
cheaper to be descretionary trader, but you need to
spend at least 300+ everymonth for cost related to
become a system trader, you can't go any $wise lower
than that.