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-- Trade the News -- any good? (http://www.elitetrader.com/vb/showthread.php?threadid=190026)
Trade the News -- any good?
Hi
Does anyone subscribe to Tradethenews.com?
Its not cheap but is it any good? Are there cheaper alternatives?
Thanks
I don't "trade the news" but it looks like an interesting and useful news service albeit not cheap.
It's great. The news service is easy to use and for a bit more you can get the SandP squawk box. I make the monthly fee easily by catching news pops, but be careful trading those if you don't have experience.
Have you not done the 2 week trial? You get two weeks, don't need a credit card or anything.
There is cheaper squawk box, tradersaudio.com. Google traders audio discount page and you'll get some links for the discounted rate of 75 dollars a month. You can also get traders audio for free if you have thinkorswim. Check the chat rooms on the software in thinkorswim and you'll find it.
Interactive brokers has a live reuters feed, you may want to look into that as well. It's free if you produce enough commission.
Feedback on TTN
Its good for those who use a certain strategy. A pro at my firm uses it, but he's been in the business for a while. You have to be very fast when the news hits for it to be effective.
Just factor it into your cost/reward ratio and see if its worth it. You can get a free trail I believe.
__________________
CR
The nickname for that service is "Fadethenews". Too many pikers use it. The superior news services cost significantly more and are geared for institutions. Considering the lag of Tradethenews.com behind the other services, you might as well use briefing.com instead.
The question si do you trade the news or do you trade the technical info ffrom your charts. It is important to know what your method is. You need to define that and write a trading plan, stick to that plan once you know it works. It takes patience and discipline, lots of it.
Well the trade news is a "lead" on something that may have momentum, or it may be too late by the time it hits the news. The news is always subject to the chart data and order flow.
Account cancelled.
After being a customer of TTN for more than 4 years, last Thursday they unilaterally closed my account. "Support" said there was "suspicious" behavior on the account and that "management" decided to close it.
That's it. No other option. Can't speak to "management" - they must be very important people.
I know what happened. I installed an anonymous IP address product on the TTN pc a few days earlier which rotates that pc's IP address every 30 minutes. This is to protect that pc's identity on the web. Obviously TTN did not like this. Fair enough I suppose, but you would think they would at least call or email their customer about it first before simply throwing them out the door after 4 years.
Odd way to run a business. I'll get another service.
Re: Account cancelled.
Quote from leapfrog:
After being a customer of TTN for more than 4 years, last Thursday they unilaterally closed my account. "Support" said there was "suspicious" behavior on the account and that "management" decided to close it.
That's it. No other option. Can't speak to "management" - they must be very important people.
I know what happened. I installed an anonymous IP address product on the TTN pc a few days earlier which rotates that pc's IP address every 30 minutes. This is to protect that pc's identity on the web. Obviously TTN did not like this. Fair enough I suppose, but you would think they would at least call or email their customer about it first before simply throwing them out the door after 4 years.
Odd way to run a business. I'll get another service.
I only used their txt service - pretty good IMHO. I'd continue to use them if they were willing to re-open my account.
Re: Account cancelled.
Even odder is your needing to use a new ip every 30 min. Even Osama didnt do that, (and look what it got him) maybe you're right,
And please, tell, us, why would TTN give a flying F#$% what you were doing?
Maybe they thought you were giving out your account login to friends or selling it. Ever think of that, huh?
Quote from leapfrog:
After being a customer of TTN for more than 4 years, last Thursday they unilaterally closed my account. "Support" said there was "suspicious" behavior on the account and that "management" decided to close it.
That's it. No other option. Can't speak to "management" - they must be very important people.
I know what happened. I installed an anonymous IP address product on the TTN pc a few days earlier which rotates that pc's IP address every 30 minutes. This is to protect that pc's identity on the web. Obviously TTN did not like this. Fair enough I suppose, but you would think they would at least call or email their customer about it first before simply throwing them out the door after 4 years.
Odd way to run a business. I'll get another service.
__________________
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A bear since 1958 and proud of it.
Re: Re: Account cancelled.
Quote from stock777:
Even odder is your needing to use a new ip every 30 min. Even Osama didnt do that, (and look what it got him) maybe you're right,
And please, tell, us, why would TTN give a flying F#$% what you were doing?
Maybe they thought you were giving out your account login to friends or selling it. Ever think of that, huh?
Quote from Anaconda:
The nickname for that service is "Fadethenews". Too many pikers use it. The superior news services cost significantly more and are geared for institutions. Considering the lag of Tradethenews.com behind the other services, you might as well use briefing.com instead.
I worked for many years in the financial news industry, and now mentor people how to trade on news. Here is what you need to know about news services...
First of all, the fastest way to get the most important company press release news is a raw news feed from BW and PRN. To be able to read through the thousands of headlines in real time, and pick out the news that can move a stock is a skill that some can pick up over time. The fastest way to get this raw news is a subscription based service like NewsWatch or NewsEdge and will cost $150-$250 a month for just those wires.
Dow Jones, Trade the News, Briefing, Fly, etc.., all have a dedicated staff to read raw news data and redistribute it, it takes a good financial headline writer less than 1 minute to republish a short summary of the news through their service. Another tool these services use to find breaking stories are RSS feeds, I have an RSS feed with over 1000 sources and it's a great help.
Some subscription based services have an inside line on upgrades and downgrades, but their source is proprietary. Rumor reporting services are also good to watch, though the rumors hardly ever come true, they can still move a stock.
There are many squack services to choose from and some are faster than others, some just copy what the others are doing. I like NewsStrike for audio, they know whats important to highlight and it's free.
Unlike what a previous poster stated, it's not true there is some super fast service available to market insiders and not the general public. I can often be the very first one to trade on news using sources that are available to anyone. There is also a rule called Regulation FD (Fair Disclosure) that requires all participants to be on an equal playing field.
Quote from firsttradenews:
I like NewsStrike for audio, they know whats important to highlight and it's free.
[/B]
In the past they(newsstrike) did open accounts for everyone. We still have one or two. We use it sometimes but the quality is not that good anymore(it is horrible).
Re: Re: Re: Trade the news
Quote from Maverickz:
LOL yeah you gotta love it when the very first post is a "look at this great service I found" post. Now where is that ban bat...I think I can hear it coming.
Re: Re: Re: Re: Trade the news
Quote from frank01st:
why so quick to ban "advertisers" and so slow to ban trolls like emg, deadbroke, etc?
__________________
Mavz
Re: Re: Trade the news
Quote from Clubber Lang:
Seriously? You registered today and immediately advertised your news service. LOL
I smell a banning in 3....2.....1......
Re: Re: Re: Trade the news
Quote from Goldmaker:
Thanks for your concern but this is a cool FREE tool. Yes I do use it and yes I am excited about it. If you have anything better to help me with my trading I'm all ears. If this forum isn't to help others in their trading... what is it for???
__________________
Mavz
I must agree with the fellow who was banned with no warning. After 5 years they did the same thing to me. I woke up one morning and it was off.
They claimed that I was "scraping their headlines" therefore I must be redistributing it to multiple users.
The reality is 3 things:
1. I WAS scraping their headlines in exchange for my 3k/ year. Here is what I would do: I would take a copy/paste of the morning news, paste it into excel and sort it by equity. This allowed me to quickly look up why a stock was moving up or down, and saved me from having to switch PC's, because I ran the audio/lookup service on a separate PC located a few feet behind me.
2. I trade alone and never disseminated their information to anyone.
3. Their head of sales is named Jessica, and what she never tells anyone is that the owner is her husband. SO...if you challenge her judgement in even a small way, she shuts you off because she is an unprofessional and is not a markets professional. For example, when I told her I would show their group what I do each morning and they would see that I wasn't distributing, I was basically just sorting the news stories by stock because it made things faster for me, she gave me the old "Sorry, too late, you're shut off." When I asked her, as a 5 year client, if she could postpone the shutoff for one day and we could discuss things after market, she effectively said "No, bye." And I never received another response to my request for some additional attention. I truly felt like I was dealing with a petulant child not a business person, which has happened maybe 3 times in my 14 years on Wall Street.
The analysts are pretty good, but the customer service/management are the worst.
does NewsStrike still works? seems like i haven't heard anyone reading the news lately
I prefer RANsquawk which is UK-based, and has a free service that is 2mins delay. Since this thread asked about a vendor TradeTheNews, so I'm just recommending a similar service that I use. For RANsquawk, 2mins delay can be a big thing for some news traders so that's where the subscription comes in.
They're too arrogant or lazy for me. Their web site contains no information at all about their services.. no pricing, no description of what it is they offer, just a signup form. I'm still not entirely sure what it is they offer exactly. To get a guest pass, you need to sign up to another service, LinkedIn, as well. If you don't want to join linkedin, they won't even reply to an email asking how much their services cost, except to tell you to join LinkedIn. I guess they think they are such hot stuff that they don't have to bother building a web site or answering simple questions.
Quote from GoldStandard:
They're too arrogant or lazy for me. Their web site contains no information at all about their services.. no pricing, no description of what it is they offer, just a signup form. I'm still not entirely sure what it is they offer exactly. To get a guest pass, you need to sign up to another service, LinkedIn, as well. If you don't want to join linkedin, they won't even reply to an email asking how much their services cost, except to tell you to join LinkedIn. I guess they think they are such hot stuff that they don't have to bother building a web site or answering simple questions.
The novels tune is simple to utilize and for a small piece extra. I build the monthly fee without difficulty by easily spread news pops but be careful trading.
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Sorry to bring this old thread back. I've been a subscriber to TradeTheNews.com for the past 2 years. I pay $350/month for this service. Today, all of a sudden, my account got cut off and I got an e-mail saying they need my LinkedIn account in order to continue my subscription!!!! Are you friggin kidding me??? No warning at all...just cut me off?????
I hate social media websites. I created a LinkedIn account years ago since a co-worker urged me to do it, but I never kept up with it. I only had the one person as a "friend". Well, TradeTheNews wants to see at least 5 "friends"!!!! What???? Why???? So I had to find 4 other friends and add them. A real pain in the A$$.
So I use their link and send them my LinkedIn info. They e-mail back that they will resume my subscription when they are done "evaluating" my profile!!!
I called them and asked what this is all about and why they would just cut-off a long time subscriber without any warning. They claim they want to keep the "community" filled with professionals! WHAT???? Community???? What community???? There is no chat room or discussion board there. They just provide me with the news!!!! This all sounds like a bad April fools joke! And they want a professional community???? What kind of professional community kicks off long time members without any warning? It would have been nice for them to give me a time frame for submitting the requested info instead of immediate cancellation.
TradeTheNews.com needs to get off their high horse. I'm now looking for other news services as a replacement. If they don't want my $350/month fee, I'm not gonna beg them to take it.
I'm gonna start a new thread on various news sources.
Quote from Traderham:
Sorry to bring this old thread back. I've been a subscriber to TradeTheNews.com for the past 2 years. I pay $350/month for this service. Today, all of a sudden, my account got cut off and I got an e-mail saying they need my LinkedIn account in order to continue my subscription!!!! Are you friggin kidding me??? No warning at all...just cut me off?????
I hate social media websites. I created a LinkedIn account years ago since a co-worker urged me to do it, but I never kept up with it. I only had the one person as a "friend". Well, TradeTheNews wants to see at least 5 "friends"!!!! What???? Why???? So I had to find 4 other friends and add them. A real pain in the A$$.
So I use their link and send them my LinkedIn info. They e-mail back that they will resume my subscription when they are done "evaluating" my profile!!!
I called them and asked what this is all about and why they would just cut-off a long time subscriber without any warning. They claim they want to keep the "community" filled with professionals! WHAT???? Community???? What community???? There is no chat room or discussion board there. They just provide me with the news!!!! This all sounds like a bad April fools joke! And they want a professional community???? What kind of professional community kicks off long time members without any warning? It would have been nice for them to give me a time frame for submitting the requested info instead of immediate cancellation.
TradeTheNews.com needs to get off their high horse. I'm now looking for other news services as a replacement. If they don't want my $350/month fee, I'm not gonna beg them to take it.
I'm gonna start a new thread on various news sources.
www.fcmarketsquawk.com/
http://www.itcmarkets.com/the-squawk
Quote from Good Fortune:
Seriously. You can get a good Reuters IFR service for less than that. About 3K yearly.
__________________
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But there is a lot of money to be made
... selling goods and services to those digging for it.
How to Trade The News
Not yet used trade the news (I was put off by their seemingly clandestine style of joining up) but I have used Ben Lichtenstein's Traders Audio and they are very effective if you already have an edge and are just looking to hone in on the commercial pit traders activity to confirm timely execution. They are also other advantages such as getting news from Ben ahead of most other traders etc.
As for trading the news, there is a really good short article on the pros and cons of trading the news here:
http://www.tradethenews.co.uk/Educa...wToTradeTheNews
best (and mkt moving) news is bloomberg
Save yourself the risk of loss and exponentially raise your chances of winning since these events are few and far between...get bloomberg.
They highlight (red)/asterisk the m&a, upgrades, FDA approvals/failures, DOJ investigations and they provide you the ticker so you don't have to look it up if you don't have it memorized.
if you really want to never lose and consistently make the big bucks (100K-+$1M) in a few seconds, then you need bloomberg.
Also, you have about 3-5 seconds to deploy all your capital towards the trade so you def need a fast ems and smart router. No time to put in the limit, your price should be current inside + like 10 cents for small news or +50 cents for m&a or a fraud/doj investigation. For shares, configure a few shortcut buttons (long and short) to whatever your $ limit is but since you are using a limit on your order, as long as you are within that 3second time frame you can order up to 50K shares per order, no guarantee you will get filled since mkt will def move up/down so you may have to order several times, each time you raise the limit by your addition/subtraction to the inside--so 1st order will be inside + .10, second will be new inside +/- 10, etc.
Initial order should be within 3-4 seconds of news, last order no later than 6seconds. You have about 2-3 seconds to buy/short as much shares as you can. Anything later could cause a huge loss, so the trade should be avoided. You unload about 5% of your position per order, usually 20-45 seconds after you open the position.
Also, since you can't control when news happens--it could happen at 8am or 4:15pm (outside mkt hours) you have to be ready and alert at all times.
Risk of loss for the above is less than 1%. If you do lose, it's either you reacted too late or someone beat you to the chase.
HFT strategies always lose on the initial pop (or drop), however, they make up for the relatively small loss over the next minute when everyone else jumps aboard and the volatility in the name picks up.
Good luck, it takes months of practice but consistency will get you to 8 figure incomes a year with just $1-2Mill in capital.
.
Wow, that guy makes 8 figures
....needs months of practice - does it really take that long ?
Next post probably
...take on a few selected students - only $250 / month - hurry up, seats are limited !
__________________
Only few ever got rich digging for gold.
But there is a lot of money to be made
... selling goods and services to those digging for it.
Re: best (and mkt moving) news is bloomberg
Quote from Nyukev:
Save yourself the risk of loss and exponentially raise your chances of winning since these events are few and far between...get bloomberg.
They highlight (red)/asterisk the m&a, upgrades, FDA approvals/failures, DOJ investigations and they provide you the ticker so you don't have to look it up if you don't have it memorized.
if you really want to never lose and consistently make the big bucks (100K-+$1M) in a few seconds, then you need bloomberg.
Also, you have about 3-5 seconds to deploy all your capital towards the trade so you def need a fast ems and smart router. No time to put in the limit, your price should be current inside + like 10 cents for small news or +50 cents for m&a or a fraud/doj investigation. For shares, configure a few shortcut buttons (long and short) to whatever your $ limit is but since you are using a limit on your order, as long as you are within that 3second time frame you can order up to 50K shares per order, no guarantee you will get filled since mkt will def move up/down so you may have to order several times, each time you raise the limit by your addition/subtraction to the inside--so 1st order will be inside + .10, second will be new inside +/- 10, etc.
Initial order should be within 3-4 seconds of news, last order no later than 6seconds. You have about 2-3 seconds to buy/short as much shares as you can. Anything later could cause a huge loss, so the trade should be avoided. You unload about 5% of your position per order, usually 20-45 seconds after you open the position.
Also, since you can't control when news happens--it could happen at 8am or 4:15pm (outside mkt hours) you have to be ready and alert at all times.
Risk of loss for the above is less than 1%. If you do lose, it's either you reacted too late or someone beat you to the chase.
HFT strategies always lose on the initial pop (or drop), however, they make up for the relatively small loss over the next minute when everyone else jumps aboard and the volatility in the name picks up.
Good luck, it takes months of practice but consistency will get you to 8 figure incomes a year with just $1-2Mill in capital.
HFT guys go in with orders of 100-1000 shares per order per name. They churn their entire capital every 4 seconds across thousands of stocks in that period, the most an HFT would have had exposure to RIMM today would be about 5-10k shares during the news, rest is after.
It's the news guys that create the pop or drop in the name at the time of the news since they bid/short the entire liquidity with their limit order, HFT guys simply tag along for the ride. I have not heard of an algo designed to deploy $2million on a single order in a stock, nobody would sign off on that. we saw what happend to knight a few months back when their algo went nuts.
This works. It's proven but it's not for everyone. You need to be sharp and that's something that can't be taught. It's for the kids that got 1600 on their sat's cuz they could read, process and act faster than 99.9% of the others.
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