When should I buy a Bloomberg Terminal

basically i think if you are involved in leverage trading, futures trading, and you can make 2000 usd in a day with a tick(if you have this kinda money), you should get a bloomberg. It is very useful machine, you can do chart analysis, you can check multi-products, and you have live assistants(help help). If you have a small capital, really no use buying a bloomberg. you can let your capital grow to a sizable amount. Buying a bloomberg is better than hiring an assistant. :D
 
If you have to ask, then you don't need it.

Seriously, BB is not an essential tool for most types of trading. I've used BB for research, and for staying connected with others in the financial services industry. But for straightforward trading BB can be a distraction if placed in front of the wrong trader. THEN the monthly cost is much more than US$1.8k per month.
 
Quote from NY0BScalper:

If you can make more than $1800/month from that terminal it is worth it. Otherwise, it is not. Very simple.
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not exactly simple. it depends how many additional hours u need to sit at the terminal
to make above $1800 /months
there are other alternatives which may be more cost effective.
 
Bloomberg and Capital IQ are essential if you do styles like Global Macro or EMEA (Long/Short). Whether you need the prices of goat skins in Mozambique is another story. If you are a screen jockey/liquidity provider/very active trader then its probably not worth it maybe noSignal/eSignal. But for those who squeeze pips daily, then IFR Markets is necessary, its saved a few people's arses (tracks OTC FX and Swaps)

Really no need for Bloomberg if u clock less than £500,000/year and for Capital IQ u need serious dough :D
 
They lock you in to a hideous 2yr contract will not let you share any sceens to fellow users in your office, ie 3 people looking at the 4 screens will result in law suit threats from them, are useless on their refusal to answer a phone when trying to get help -"oh you MUST use the messenger" - it takes so long to explain the issue you have on there and eventually after pages of text they eventually ask for your phone number to call you, like you told them to in the first place. They insist on logging you out after I think 18hrs of use a day for "updates" which is infuriating as you can't stop it doing it, just when you need it.
I still have 10s of complaints about their slow data releases, "we will look into this and get back to you with a full explanation" Never happened, years I've waited. And now sadly I believe Reuters terminal are looking to follow with the long contractual tie in. I have made good money off some headlines posted on there over the years, I have reuters too but I do hate dealing with Bloomberg and their attitude. It's not like you can threaten to quit their service and they act accordingly to knowing that.
 
lol, you sound you are someone once you have bloomberg. Well, guess what, if you care much about status symbols, buy yourself a nice Breitling or Rolex for such money you are much better served. But wait, everyone in China (almost everyone) wears one already, be it fake or real), so maybe a Bloomberg can really make a difference ;-)

Because I have a heart for Asia and have lived in this region for long time, let me ask you this: What do you actually imagine using Bloomberg for? Charting? Then I can give you references to much cheaper but better services. News? Same there. Data Services? Ditto. Integration into Excel? Same. Chat and Messaging service? Same. Analytics and Pricers? Same. A comprehensive platform that includes all of the above? Only Bloomberg! Haha, it sounds ironic but true.

Hope this helps. PM me if you need some info on what you actually look for besides a brand name.

Quote from gwivxvvv:

yeah, the prize i asked in Beijing office in China in May this year is around 1800USD per month, so i want to know that until my investment asset achieve what kind of level then i can nessecerily buy BT??
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