benzinga-review

Review of Benzinga Pro by Warrior Trading

 

Hey everyone!  Today we’re going to be reviewing Benzinga Pro.  As many of you know I use Benzinga Pro everyday.  Benzinga provides a real time news feed as headlines break on activist stakes, earnings releases, conference call key points, upgrades, downgrades, takeover rumors, the biggest market movers and plenty more actionable alerts.  Charlie provides the radio commentary, and his calm voice and New York accent becomes part of your daily experience as a Day Trader.  One of the reasons I enjoy using a financial news radio subscription is that it helps me feel connected to other traders, and the greater market.  It’s easy for traders to fall into a bubble, their own little world.  In that bubble we can sometimes start to make poor trading decisions because we aren’t away of larger market news or trends.  In addition to a streaming radio feed, Benzinga also offers a text feed of breaking news headlines that is searchable, a watch list section, an economic calendar, and the ability to set alerts.

 

Tremendous Value

The real value in the Benzinga Pro suite of offerings is the live, minute by minute squawk audio. The live audio provides access to major news and announcements before the news hits the wire and circulates in the normal market feed channels.  The benefit here is not only the speed in which the news is delivered but the ability to take your eyes off a text news feed which will cost yourself valuable time. Oftentimes, news is squawked and entry into a trade is well before the rest of the retail crowd allowing for enhanced performance, a key aspect to successfully capitalizing on a Momentum Trading Strategy.

 

Below is a trade I took on $MBLY as breaking news came out over Benzinga.  This trade generated enough profit to cover 2 years subscription to Benzinga.

 

mbly

 

Daily Routine

Each morning I have the same routine.  I check my Gap Scanners by Trade Ideas, and then search for the news catalyst that is driving these stocks higher.  I scan for breaking news using Benzinga and Market Watch.  Instead of looking at all the headlines each morning, I simply look for stocks with nice daily charts and then check the news on those names.  I keep a very close eye as we move towards 9:30 for entry opportunities on the biggest movers.

 

Live Audio Feed

Throughout the remainder of the day, I keep the live audio feed streaming waiting for breaking news headlines and constant updates of market internals. The live squawk feature has allowed me to take full advantage of trading the news successfully and locking in big profits consistently. Without the Benzinga news feeds I would be lost an unable to navigate the markets. Benzinga allows one to remain abreast of the markets and in the best possible position to profit off news headlines.

 

Word of Caution

I would never recommend anyone trade blindly off the squawk box radio alerts.  Sometimes we’ll hear breaking news that sounds great, but the stock drops.  Other times we hear breaking news that ends up being incorrect.  The advantage of getting news early is that we have the first chance at getting into the trade, the problem is that we may not know which direction it’s going to move yet.  So I often wait for the first pullback and then take a position.  I learned the hard way that jumping into breaking news without fully understanding the headline can result in very quick losses!

 

Competing Services

Benzinga has a few competitors, most notable The Fly On The Wall and Trade The News.  I have used both services, and found Benzinga to be the fastest to release breaking news.

 

Screen Shots of Benzinga Pro

benzinga-review

 

Reviews by Warrior Trading

2 thoughts on “Review of Benzinga Pro Streaming News by Warrior Trading

  1. After a news update comes out about a certain stock do you have enough time to read the article and determine which way the stock is going to move and then buy in or by that time is it usually too late?

  2. Hey Josh,

    By the time the news has made it to press, and been distributed through the newswires, there is pretty much no chance that some savvy big money investor didn’t already see it. For the most part, when trading news, breaking news in real time is about the only trading worthwhile in the news play arena.

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