The sentiment indicator vote results
The sentiment indicator Discussion
It’s great and better than what anyone else offers—so thank you for it. The issue is it lags; as price moves down in a pullback the sellers close their positions and everything goes to 50/50. So it’s reacting to price, and you can’t make money reacting. To make money trading you have to be proactive and get in before others do.
What you need is the following information: traders actual trades when they click the button with a profit loss attached to their profile. So for example, price moves down 10 20 pips 30. There is a feed where traders are entering positions. Some long some short. You can click on their profiles and see their profit and losses to see whether you should take or fade their trade. Along with average loss and average profit per trade.You could also provide a sentiment of those traders collectively as well. This would be a real time live feed and would be a complete game changer because that information is what hedge funds and institutions are buying from the retail books. It’s the real time order flow and that is what myfxbook needs.
Jdobbs posted:It’s great and better than what anyone else offers—so thank you for it. The issue is it lags; as price moves down in a pullback the sellers close their positions and everything goes to 50/50. So it’s reacting to price, and you can’t make money reacting. To make money trading you have to be proactive and get in before others do.
What you need is the following information: traders actual trades when they click the button with a profit loss attached to their profile. So for example, price moves down 10 20 pips 30. There is a feed where traders are entering positions. Some long some short. You can click on their profiles and see their profit and losses to see whether you should take or fade their trade. Along with average loss and average profit per trade.You could also provide a sentiment of those traders collectively as well. This would be a real time live feed and would be a complete game changer because that information is what hedge funds and institutions are buying from the retail books. It’s the real time order flow and that is what myfxbook needs.
You’re right about the lag. Most sentiment tools react after price moves, which limits their value. Real edge comes from seeing positioning early, not after it equalizes. True order flow from actual executions is what institutions pay for, but retail traders rarely get clean access to that data.
