what services are actually useful( what information i should be looking at when trading)

M

mute9003

there are many "extra" services being offered by basically anyone who can now
and common sense is that not all of them are actually useful.
kinda like mechanic that buys that one special tool that works on that specific car and saves you 2 hours of work but you get that car once a year and tool costs 500 dollars.

what is actually useful in trading stocks?
what information should i be looking at?
like news obviously but then does it matter which service like webull spams me with irrelevant AI generated news but its free on the other hand tim sykes platform is like a swiss army knife but its not affordable but is it really useful for trading or just a specialty tool?

stock split calendar?
market calendar?
planet allignment?

please try to understand the question before replying .
obviously im learning or i wouldnt be asking these questions
 
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Calendar for FOMC, FOMC minutes direct from the FOMC site.
Calendar for the Economic events. There are many, Briefing.com free version is good.

Both these things are good to not take a position right before, unless that is the play, but even then not a good idea for a beginner. Also good to exit before announcements and stay on the sidelines.

The other tool is a trading platform that allows you to script your indicators-signals, and script your order handling as well as your daily PL management. This is the MOST important, IMO. I would allocate 1-2K for this part.

And a reliable machine, good screen, and reliable internet with Cell backup.

The rest is best to do without. Keep it simple, reliable and low ongoing costs year over year.

The problem with "services" is your system might get built around them, and that will be the weak link. Or they will distort your system.
 
You didn't saw what you will be trading? Stocks, Options, FX, Crypto?
The usefulness of the tools depends on what you will be trading.
 
That depends on the trading you do or intend to do.

Day trading / trading data releases? Swing trading? Trading algorithmically?
 
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mute9003 said:
there are many "extra" services being offered by basically anyone who can now
and common sense is that not all of them are actually useful.
kinda like mechanic that buys that one special tool that works on that specific car and saves you 2 hours of work but you get that car once a year and tool costs 500 dollars.

what is actually useful in trading stocks?
what information should i be looking at?
like news obviously but then does it matter which service like webull spams me with irrelevant AI generated news but its free on the other hand tim sykes platform is like a swiss army knife but its not affordable but is it really useful for trading or just a specialty tool?

stock split calendar?
market calendar?
planet allignment?

please try to understand the question before replying .
obviously im learning or i wouldnt be asking these questions
More...


You need to pay for a service from a mentor, and the best ones are penny stock traders because they pay for a Ferrari in cash. Otherwise you'll never make it. :sneaky:

 
Like faet said it depends on your chosen/preferred product,timeframe and strategy. If you're a futures trader you're probably very interested in when the next FOMC,CPI,PPI,etc updates are. If you daytrade penny stocks you couldn't care less about those things.
 
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mute9003 said:
What would you pay attention to trading penny stocks?
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I dont trade penny stocks but I'm sure guys who do have a method to their madness. But I doubt if they're sitting around waiting for JPow to take the podium.LOL
 
mute9003 said:
there are many "extra" services being offered by basically anyone who can now
and common sense is that not all of them are actually useful.
kinda like mechanic that buys that one special tool that works on that specific car and saves you 2 hours of work but you get that car once a year and tool costs 500 dollars.

what is actually useful in trading stocks?
what information should i be looking at?
like news obviously but then does it matter which service like webull spams me with irrelevant AI generated news but its free on the other hand tim sykes platform is like a swiss army knife but its not affordable but is it really useful for trading or just a specialty tool?

stock split calendar?
market calendar?
planet allignment?

please try to understand the question before replying .
obviously im learning or i wouldnt be asking these questions
More...

This is strictly dependent on what you are trading and how you are trading.

As you develop your strategy, you will find what information is important to you and you will have to figure out how to source that information. If you do it right, your advantage will be in sourcing that information better than everyone else (and thus will have a REAL edge).
 
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