A start on aggregate sentiment

We whipped up an interface to monitor the activity on the Trader Sentiment feature launched on Tuesday. It was only supposed to be used for internal purposes but I thought it was so cool that I convinced the team to let me put it on the blog. :)

Have a look: http://www.forexfactory.com/sentiment.php


Posted by Sidney, Forex Factory Director of Marketing

14 Responses to “A start on aggregate sentiment”

  1. boxingislife says:

    Sidney thank you for that its an amazing feature and the aggregate sentiment is great keep it up :)

  2. forexlion's Avatar forexlion says:

    unless its a bar chart or a pie chart, its as good as useless

  3. siewhf's Avatar siewhf says:

    Nice information. But the sentiment is basing on LONG TERM or SHORT TERM timeframe ? (i.e., Months, Weeks, or Days... ) If this is not defned, it is as good as useless...

  4. achewz says:

    This is great, only it have to be separated into Monthly, Weekly, Daily, 8 hourly and 1 hourly frame. Where Mounthly is updated every month, week, days or hourly... and code (five letter or number for everyone)

  5. jlryan87 says:

    This feature is good but could be improved on! I would like to suggest FF to assign weightings to each sentiment because not all were posted at the same time. The aggregate would be the sum of these weighted sentiments. Also it is good to allow people to vote for different time frames. And the weighting process should be done for all different time frames like 1day, 1 hour, 30mins etc.

  6. Tjpld's Avatar Tjpld says:

    Cool my " The "Hey Twee" Thread" Idea comes to live. Even better than I imagied. Good job on the "Horizon" Parameter. This is absolutely necessary.

  7. Kaligula's Avatar Kaligula says:

    That's great! I would alow to see over time how sentiment have changed, And agree that it would be better to specify if sentiment is monthly weekly or daily, left sparately if it's strong or weak and bar chart would be clearer :)

  8. arsa's Avatar arsa says:

    how many consistently profitable traders will participate here? Remember the 5/95 rule. Does it matter what 95% think?. I don't see why this should work or in general why it is necessary. You can see sentiment on your chart. If you can't - any aggregate sentiment chart won't help you. P.S. would be nice to see if there will be correlation what actually pairs do and what was the sentiment :) P.P.S. just my opinion: won't work.

  9. Spsantos's Avatar Spsantos says:

    I like it. Now what each one wants to do with it, it's his own problem. I just take it has a nice forum indicator, nothing else.. and i guess that's the intent. I hope people won't start trading based on this too. lol

  10. Pooch says:

    In addition to notes above have you thought of a neutral column

  11. Jade Gate says:

    As a marketing tool (read gimmick) it will probably have some appeal to the democratic populous. If it is to be taken seriously however, it will need several improvements - 1. A "Stand Aside" option (as pooch mentions above). 2. Division of the data into 3 potential opinion categories - analysts/story contributors, experienced traders (WV4+), other FF members. 3. A daily time frame for update, e.g. 5.00pm US ET view to the next day's trading. 4. Reduction in the number of pairs/instruments/indices being canvassed (less is more, focus on the majors, yen pairs, gold, oil, DJI and S&P, delete everything else.) Think it likely however that many experienced traders may not bother. It's noise. Also something of a concern if newbies are taking their lead from the opinion of others whose credentials are not proven.

  12. azat2043 says:

    yes... its cool.. thanks AminAS.. hte sentiments was good the right choise... so i will follow as it!!!

  13. wigz says:

    Great idea guys! I think the 'less is more' idea from Jade above is also particularly good. I assumed people would use it as a fading/contrarian tool but that is up to the individual. Will be great to watch it evolve.

  14. Dtseng123's Avatar Dtseng123 says:

    I've been exploring this cool, new feature for a bit now. The idea of community sentiment is an excellent new data point for traders. You can even follow experienced traders and follow their trades (stop, limits, entry, close & performance). I'm on this site called Currensee and they're doing something similar except they calculate sentiment based on real trades, which has much more validity than something everyone has to go out of their way to input manually. Now there's finally a way to see psychological data embedded in the price movement. Now you may bring up the 5/95 rule to which I say: if 7% of the community is long and 93% short on a particular pair...then go long!

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