How accurate is the sentiment indicator?
Mar 27, 2024 at 17:46
501 Angesehen
17 Replies
Mitglied seit Oct 02, 2019
2 Posts
Mar 27, 2024 at 17:46
This is supposedly based on “verified, real accounts only” but these stats just don’t seem plausible at all. No way there are twice as many winning traders as losing traders and the average account size is 6 figures.
How are these stats actually being generated? Can someone explain?
How are these stats actually being generated? Can someone explain?
Anhänge:
Those who can't do...teach
Mitglied seit Jul 19, 2024
2 Posts
Jul 19, 2024 at 19:37
Factors such as sample size, diversity of participants, and transparency in data collection can influence the accuracy of sentiment indicators. Additionally, sentiment indicators should be interpreted alongside other technical and fundamental analyses for a comprehensive understanding of market sentiment.
Jul 24, 2024 at 18:13
Sentiment indicators provide insights into the overall mood or positioning of market participants, which can be useful for gauging potential market direction. However, their accuracy is limited as they reflect collective sentiment rather than predict precise price movements. While sentiment indicators can highlight extreme bullish or bearish positions, they should be used in conjunction with other forms of analysis to make well-rounded trading decisions.
Mitglied seit Sep 21, 2019
8 Posts
Aug 01, 2024 at 13:03
hi there
these stats are often based on selective data from a subset of traders or accounts, which can skew the results. they might not reflect the broader trading community and can be influenced by promotional or biased reporting methods.
these stats are often based on selective data from a subset of traders or accounts, which can skew the results. they might not reflect the broader trading community and can be influenced by promotional or biased reporting methods.
Wallstreet Money
forex_trader_2245163
Mitglied seit Mar 15, 2021
6 Posts
Dec 04, 2024 at 18:09
Sentiment tools can help to being on the correct side of the market. They can't be used for timing. Use stop entry orders and wait for market to start moving in the direction of the sentiment reading.
Dec 05, 2024 at 11:32
Nutty32 posted:
Sentiment tools can help to being on the correct side of the market. They can't be used for timing. Use stop entry orders and wait for market to start moving in the direction of the sentiment reading.
You’re right. Sentiment tools are great for analyzing the general mood of the market but here, timing is everything. Waiting for confirmation using stop-entry orders is a good tactic.
Dec 06, 2024 at 05:15
JPInvestments posted:
This is supposedly based on “verified, real accounts only” but these stats just don’t seem plausible at all. No way there are twice as many winning traders as losing traders and the average account size is 6 figures.
How are these stats actually being generated? Can someone explain?
You’ve got a valid point! It does sound a bit too good to be true. Sometimes brokers highlight a specific subset of accounts (like pros or high-net-worth clients) to skew stats. Also, “winning traders” could just mean those with a slight profit, not necessarily consistent big gains.
Dec 07, 2024 at 14:20
JPInvestments posted:
This is supposedly based on “verified, real accounts only” but these stats just don’t seem plausible at all. No way there are twice as many winning traders as losing traders and the average account size is 6 figures.
How are these stats actually being generated? Can someone explain?
Just imagine how small is this fraction of the market and how changes in sentiment of this fraction can affect market prices.. maybe during some highly illiquid price but still hardly feasible to make profit using this data somehow. Useless for me, some fancy stuff tbh
Mitglied seit May 08, 2023
93 Posts
Dec 08, 2024 at 04:37
No way those statistics are correct, the average deposit of $70k? Whose average is that, George Soros?
Dec 18, 2024 at 07:57
The sentiment indicator shows the market's mood, but it's not always accurate. It helps, but should be used with other tools for better results. Markets can change quickly!
In trading, knowledge is power; in practice, patience is key.
Mitglied seit Oct 02, 2019
2 Posts
Dec 18, 2024 at 19:09
Ethanishere posted:
No way those statistics are correct, the average deposit of $70k? Whose average is that, George Soros?
One of the only non bot replies in here. That's exactly what I'm saying. According to the sentiment indicator there are nearly 3x more winners than losers and the average winner is up 300k while the average loser is down 50k? Come on these stats are so outrageously fabricated its not plausible whatsoever. Obviously 99% of accounts are losers and the average deposit prob isn't even $100. To make matter worse, myfxbook is charging for a subscription for a supposedly better version of this tool. This is such a scam and needs to be exposed.
Those who can't do...teach
Dec 19, 2024 at 06:32
Brick_56 posted:
Not always accurate since it depends on market's mood and nature. the chance of switch can cause the change in sentiment which will affect badly in your trading performance.
So true! Market sentiment can change fast, and it can really impact trades. How do you manage sudden shifts in mood?
Dec 20, 2024 at 06:28
Daniel424 posted:
What I know is, sentiment indicators can give you some good insight, but they’re not always spot on, especially when markets are moving fast.
Honestly, I have found sentiment indicators to be pretty useful. Even in fast markets. If paired with other tools, they can still give solid insights—just gotta know how to interpret them quickly
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