I have been surfing around the net to see who (vendors) and what the costs are for subscribing to live newsfeed/wires (i.e. Dow Jones, Reuters, PR Newswire, etc) during the trading day. For those who subscribe to these services, what are your typical monthly costs and what kind of packages are there? Are there any vendors that are priced more competitively than others?
I believe you can get BridgeStation from Reuters for about $450/month. Much easier than Bloomberg, same in terms of time(faster in many situations), and cheaper.
If you can't make good money without one, you won't make good money with one. If you can make good money without one, why spend the money?
I think I disagree with both of these: 1) I know people that suck in trading back and forth all day long daytrading. They do news plays in the morning and are done by 11:00 AM EST, cause they stink trading and they don't want to give it back. 2) This is a more interesting question, as stretching yourself too thin amongst competing strategies can make you a jack of all trades, and a master of none. In this case, I agree with you if you qualify that you do cannot handle what you are doing now. Otherwise, the more the merrier! nitro