Today I want to give you an overview of the Benzinga Pro Platform.
We're going to cover:
- What is it?
- Who is it for? - meaning is it right for you
- What is it do? - give you an inside look and overview
I'll also share with you a coupon code that you can use to sign up and get yourself a discount. And all that simply for watching this video.
Now in this post just a quick disclaimer before we get into the overview. There is no monetary funds were exchanged between Benzinga and me.
However, they did mention that to create a win-win relationship they will have me on their show. Keep your eyes peeled and make sure you sign up to my newsletter to know when that's happening.
Overall Panel and Platform
Take a look here. You'll see what it's all about, who is it for and what you can do with it.
If we launch the platform, you can see that it's news base driven. Look at the news feed. You can populate multiple panels within your big panel. There is an option that you can even pop them out. That way if you have multiple monitors and if I want to move one off screen I can do that.
Type in stock AMD if you're looking for a certain news, catalyst or news event on a specific stock. This will populate all the news for AMD.
I could type Apple. If I type an Apple, you can see it quickly populates any news headlines regarding Apple. That way if you're interested in reading a little bit more about it, you could open them up. Click it, open it up and it'll open up that news article. You can read it.
Now if you want to take a look at Apple itself, you can click that ticker symbol right there. And what I'll do is open up that little window of Apple.
You can also do that on the left side of the platform. The left side has plenty of settings. But for me, I just found that this was easier.
You can see our chart, our bar chart. I could do one day, five days, one month, three months, six months...
...there's a lot of different things that you can do within the chart. For me, as far as a charting platform goes, I still preferred TC 2000. The main reason is the speed of use, and also that's just what I'm comfortable with.
I find that this panel and platform is suitable for fundamental data.
This is great for you if:
- you're a fundamental trader
- if you're trading based on news
- if you're trading based on new specific events
- you're looking at a lot of the news power behind this platform
Because as you populate the stock, you can take a look at:
- SEC filings
- Press releases
- BZ wire
- Partner news
If you click all of it, you'll be able to see all of the news headlines that are coming in there. You can also take a look at some quick data.
Quick data as where's the previous close, the open, and standard necessary company information as well. Also, you can see the earnings and balance sheets ownership and things like that.
This makes it friendly if you're a fundamental analyst or you're looking at analyzing stocks based on fundamentals.
Calendar View - How to Launch it?
The other great thing about this platform is if you're looking at calendar view. If I'm looking at a calendar, I can launch it a new window. Or in the workspace. I've started it in the workspace now I had two.
Here we have a calendar so I could look for earnings and dividends. It allows me to search for dividends.
I go to earnings, and I want to type in when is Apple's profits. I'll type Apple, and it tells you the earnings and when they also happen last.
Here you can see it goes into 2012 as far as the earnings go and now the next one that's coming up is on 2017-05-02. That's just right around the corner for the second quarter an Apple.
I can look up Amazon which is also 2017-04-27 which is just a few days away. You can see that this makes it friendly and quickly you can access a lot of things.
The same thing with SEC filings. Now, looking at PG, it will populate it there - I go, and you can see there are the dividends. There's how much they paid out. It makes it easy to understand that fundamental data.
How to create A Watchlist?
One of the other things that you can do is create a watchlist. Go ahead and click watchlist. You can do it in the workspace if you like.
For Example > Current watchlist
Now as I type in Amazon right there and I hit enter on the keyboard - there it is. It populates it there.
If I type in P&G; I hit enter after hit enter button one more time to get it in the watchlist. So you have to do a double enter there to get it in.
You can continue doing this and adding a few stocks. You have your watchlist, and you can rename it, update it and do whatever you want.
Maybe you have multiple watchlists. You can see that you can hop around between one or the other watchlist.
It can be different scenarios that you want to have:
- industrial companies
- banking stocks
- ETS that you're watching
In either case that's some watchlist related things that you can do.
Alerts, Squawk talk, Chat Box - What is All About?
There's also some alerts that you can set up. I didn't dig too deep into the alerts. The reason is that I'm a more technical trader. But you could set this up if you want. It is based on some alerts and settings.
The other thing that you have is their squawk talk on the Benzinga Platform. You listen to the audio the commentary that's going on there.
And finally, there's also a little chat box that you can speak to if you have any questions about a specific stock.
Maybe you have questions like this:
- Why is it moving?
- For what reason is it moving to the upside?
- Why is it moving to the downside?
They can give you some insights into some news catalysts. If we go into the news feed and we'll set up this news feed right here.
Then this might be our question:
- Why is Goldman Sachs moving the way it's moving?
- Why is Amazon not moving?
They might mention a few things and give you some headlines that are there.
Quick note: They're not going to advise you on what to do and how to trade based on your account. The main reason is this is your prerogative. Your account is based on your risk tolerance and your risk.
Always keep that in mind that they can point you to things. But they're not going to be thinking for you to trade. They'll pinpoint you to different places where you can do your research and homework.
Can You Create Multiple Workplaces?
One of the other things that I like about this platform is you can create multiple workspaces. I could create the second workspace up here, and I can add a calendar here on the side. It's even possible for you to rescale or resize it.
Adding your watchlist in here is possible as well.
You can see that way you have:
- a watchlist
- the calendar
- some news
That's all populated, but you can see it's all fundamental data. If I'm looking at PepsiCo over here, I can populate this and then there's the chart. I can jump into SEC filings. I can do the press releases. And I can even continue scrolling down and take a look at some of the company details.
You could pop up with a chart. However, the chart pops up through a trading view. They've integrated the trading view charting platform within Benzinga through I guess a partnership.
That makes it handy if you're looking for a more powerful charting system and platform using it that way. But if you're merely technical, analyst or you're just analyzing charts then you could only use a trading view.
For me, I like TC2000 simply because that's what I'm comfortable with.
This is What This Panel Provides You
Overall that's what the panel is all about. As far as who the panel is for or who's it targeted towards I would say it's more for active traders. Active traders are making trading decisions based on fundamental analysis.
Or more so looking at the news and making trading decisions based on the news. If you're active in the marketplace and you're making decisions based on the news, and you want news quickly you want it organized that's what the panel is all about.
Could you get your news from another source?
Absolutely. But the panel makes it a little bit easier and more friendly especially if you're more active in terms of a day trader. Or a shorter term swing trader. If you're holding positions for multiple days, that's where this panel works out well for you.
It saves you time from doing the research. Everything is compressed in one place.
However, if you're a beginner and you're making trading decisions based on the charts the panel doesn't focus on for people who like technical analysis as much. It does have some of those things integrated, but it's not as prominent into that.
This is Why Benzinga Platform isn't For Beginners
One of the reasons why I say this platform is not geared for beginners or less active traders is simply because of the price tag.
When you go into pricing, it becomes a little steeper to pay something every month to go ahead and save you time.
But if you're an active trader and:
- you're trading every day
- you're trading every couple of days
- you're putting on positions, and this platform saves you time
In that case, having that platform can be a huge benefit. As your account grows larger the price tag becomes more favorable. But for watching this video, I do have a coupon code that you can use. Let's say you want to do a free trial you could do that.
But if you want to go ahead and sign up here's a coupon code that you can go for and use it to sign up. Once you click one of the packages, there are a few different pricing plans that you have.
You can choose this basic monthly package. I'll go ahead and type up a letter for my name at the moment. And as you scroll down, you'll see the coupon code here towards the bottom.
Once you type that in you'll see that the discount code should be applied and you'll get 25% off every single month.
That will help you out especially if you're just getting started and if you're new to the stock market.
In either case, I hope you learned something new about Benzinga Pro Platform. This tutorial and review can save you lots of time and help you start trading like a pro.