So Much Information, So Little Time: How to Simplify News?

[tollbridge]

Hello Fellow Traders

Each morning over a cup of coffee I've got Sky News Business blaring on the TV, the AFR & Australian Newspaper (with online WSJ) on my computer, broker reports, daily email summaries and other financial news that in all honesty would take a week to read in full.

I find I'm spending more and more time reading and watching television than I am actually trading. This might not necessarily be a bad thing however it's getting to the point where I'm struggling to get past 11:00am without a migraine from trying to digest all this information.

The Bull previously was the BEST source of free information but since early this year has began charging for a premium service. I haven't yet decided if it's worth the $400 or so per annum subscription fee. AFR online looks great but I'm yet to see an iPhone app that would be reliable enough to cover breaking news. I'd love to have a professional Bloomberg service but the price is way out of my league.

We've entered a new age where information is freely available - but sorting through the crap is extremely time consuming. Personally, I've resorted to using Twitter and I'm surprised at the speed and accuracy media agencies such as Bloomberg, New York Times, Financial Times and various brokers release headlines.

Is there anybody out there that can help me find a simple, daily email or website summarising the world's financial news in an independent manner?

I think I'm asking the impossible - but I'd be interested to hear other people's opinions.

Cheers

Tollbridge

 

[Wysiwyg]

You can choose which sector you want news from. Focus on one or a few sectors to lighten the input.

https://www.aussiestockforums.com/forums/showthread.php?t=17226&page=2&highlight=rss

 

[Tysonboss1]

Hello Fellow Traders

Each morning over a cup of coffee I've got Sky News Business blaring on the TV, the AFR & Australian Newspaper (with online WSJ) on my computer, broker reports, daily email summaries and other financial news that in all honesty would take a week to read in full.

I find I'm spending more and more time reading and watching television than I am actually trading. This might not necessarily be a bad thing however it's getting to the point where I'm struggling to get past 11:00am without a migraine from trying to digest all this information.

The Bull previously was the BEST source of free information but since early this year has began charging for a premium service. I haven't yet decided if it's worth the $400 or so per annum subscription fee. AFR online looks great but I'm yet to see an iPhone app that would be reliable enough to cover breaking news. I'd love to have a professional Bloomberg service but the price is way out of my league.

We've entered a new age where information is freely available - but sorting through the crap is extremely time consuming. Personally, I've resorted to using Twitter and I'm surprised at the speed and accuracy media agencies such as Bloomberg, New York Times, Financial Times and various brokers release headlines.

Is there anybody out there that can help me find a simple, daily email or website summarising the world's financial news in an independent manner?

I think I'm asking the impossible - but I'd be interested to hear other people's opinions.

Cheers

Tollbridge

I prefer to turn off all that noise and sit down with a few annual reports, a sheet of blank a4 paper and a calculater.

 

[skc]

Each morning over a cup of coffee I've got Sky News Business blaring on the TV, the AFR & Australian Newspaper (with online WSJ) on my computer, broker reports, daily email summaries and other financial news that in all honesty would take a week to read in full.

I don't read physical paper anymore as they are all too slow. My morning routine is, starting at 8am...

- Bloomberg for headlines
- Finviz for charts
- Business section of The Australian and SMH
- Business spectator Wheels and Deals

These usually take me to 9:15am or so. Then I grab a coffee and move on to checking charts, positions, stops, potential trades of the day, pre-set orders etc etc. I also monitor ASX company announcements through the day.

Usually around lunch when things are a tag slower, I browse forums and read borker reports etc.

After market closes at 4pm I do house keeping stuff like spreadsheet entries, checking broker statements etc.

At night I clear my emails which include business spectators, The Bull, Minesite, broker end of day summaries, and more forum (hence I am here now)...

Yes it does make a pretty long day.

How do you use twitter btw?

 

[AlterEgo]

Forget all of that and just look at the chart. Seriously. All the news, etc just makes you doubt your own analysis and misleads you in to making the wrong decisions.

 

[tollbridge]

Excellent advice. Turn down the noise and watch the charts! I visited Bloomberg again this evening and I'm still amazed at the amount of news they publish for free - brilliant website for international news. Not into AFR as has previously been stated - information is too slow for an intra-day trader. Weekend AFR is good for that glossy magazine with advertisements for rolex watches and luxury cars - gives me some hope

I'll make an effort this week to do the following:
- Email Subscriptions: The Bull + Morningstar
- Newspaper: The Australian Business (feat. WSJ Asia)
- Sky News Business: Market Express + Trading Day

Twitter is brilliant and I advise anyone with a smart-phone to get it and use it straight away. Create a separate account (if you use it for personal stuff) and just have it on during the day for breaking financial news. All you need to do is follow:
- Bloomberg News
- CNBC
- Financial Times
- Wall Street Journal (WSJ)
- New York Times
- BBC Breaking
- Sky News Break

You've then got access to all the major's breaking headlines as they happen in under 140 characters with links to actual articles if they interest you. In addition I also subscribe to my broker and mentors. Probably the simplest way of getting news as it happens.

Thanks for your help. I'll cut down the noise and keep my eyes on the charts! Ultimately that's what brings in the $$$! :

 

[Billyb]

Agree. Why make investment decisions even more complicated, and why make life even harder, by trying to keep up with all the news? Just read the charts, all the information is there. Also, the direction the Indices are going is a summary of the news.

 

[tech/a]

Forget all of that and just look at the chart. Seriously. All the news, etc just makes you doubt your own analysis and misleads you in to making the wrong decisions.

Boom boom

+1

The next thing you may consider is understanding how to read a chart----properly!--- err profitably.
Takes me 30 mins a day and 17 yrs of commitment.

 

[joea]

Hello Fellow Traders

Each morning over a cup of coffee I've got Sky News Business blaring on the TV, the AFR & Australian Newspaper (with online WSJ) on my computer, broker reports, daily email summaries and other financial news that in all honesty would take a week to read in full.

I find I'm spending more and more time reading and watching television than I am actually trading. This might not necessarily be a bad thing however it's getting to the point where I'm struggling to get past 11:00am without a migraine from trying to digest all this informat
The Bull previously was the BEST source of free information but since early this year has began charging for a premium service. I haven't yet decided if it's worth the $400 or so per annum subscription fee. AFR online looks great but I'm yet to see an iPhone app that would be reliable enough to cover breaking news. I'd love to have a professional Bloomberg service but the price is way out of my league.

We've entered a new age where information is freely available - but sorting through the crap is extremely time consuming. Personally, I've resorted to using Twitter and I'm surprised at the speed and accuracy media agencies such as Bloomberg, New York Times, Financial Times and various brokers release headlines.

Is there anybody out there that can help me find a simple, daily email or website summarising the world's financial news in an independent manner?

I think I'm asking the impossible - but I'd be interested to hear other people's opinions.

Cheers

Tollbridge

This is called "Paralysis by Analysis".
Most traders get caught up in the hype.
The next step is to use what is effective, in the way you would like to trade.

joea

 

[tech/a]

This is called "Paralysis by Analysis".
Most traders get caught up in the hype.
The next step is to use what is effective, in the way you would like to trade.

joea

+1
Trading needs to be Black and White
NO grey

 

[Boggo]

...

I'll make an effort this week to do the following:
- Email Subscriptions: The Bull + Morningstar
- Newspaper: The Australian Business (feat. WSJ Asia)
- Sky News Business: Market Express + Trading Day

Twitter is brilliant and I advise anyone with a smart-phone to get it and use it straight away. Create a separate account (if you use it for personal stuff) and just have it on during the day for breaking financial news. All you need to do is follow:
- Bloomberg News
- CNBC
- Financial Times
- Wall Street Journal (WSJ)
- New York Times
- BBC Breaking
- Sky News Break

You've then got access to all the major's breaking headlines as they happen in under 140 characters with links to actual articles if they interest you. In addition I also subscribe to my broker and mentors. Probably the simplest way of getting news as it happens.

Look up the term WOFTAM tollbridge, all that stuff will do is tell you what has happened or what somebody believes should happen.
You will always stay in the 90% group with all the "its a bargain at this price, bought another small parcel, will hold them in the bottom drawer, I am in for the long term and it has a great yield" brigade.
Been there, done that.

Thanks for your help. I'll cut down the noise and keep my eyes on the charts! Ultimately that's what brings in the $$$! :

That's where the rubber hits the road, its probably harder and initially daunting but with some perseverance it will give you a front row seat.

You will recognise when you are in the zone when you see news and forum etc commentary picking up about a week after you have already bought in.
The newsletter writers also put down their latte's and start typing at about the same time.
By the time they have finished congratulating themselves you are already tightening your stops as you can see a Wave 5 or the reverse mirror image of how you got in approaching.

My

 

[lee 53]

This may seem a little too simple for you, albeit they are all free, I refer to them throughout the trading day.
http://www.businessspectator.com.au/bs.nsf/pages/home?Opendocument
http://commsec.viotv.com/
http://www.traderdealer.com.au/finance-tv.aspx
Also have 2 i pay for but not going to butter someone elses bread
cheers

 

[Julia]

Might be good to remember that many of these 'services' are simply the expression of the presenter's opinion. That is often slanted to their own inevitable biases.

 

[imforforex]

Hello Fellow Traders

Is there anybody out there that can help me find a simple, daily email or website summarising the world's financial news in an independent manner?

I think I'm asking the impossible - but I'd be interested to hear other people's opinions.

Cheers

Tollbridge

I know you've had a few replies but I thought I would ad tradeideas.com.au to the mix (I have no affiliation) they give some pretty good strategies and opinions. I'd be interested to know your thoughts - also you can access all the good stuff by signing up and its free.

 

[imforforex]

Also trade the news is not bad...