Trading using community outlook
Aug 18, 2017 at 10:36
2,758Lượt xem
16 Replies
Tham gia từ Aug 17, 2017
2bài viết
Aug 18, 2017 at 10:36
If the majority of traders that are represented in Myfxbook's community/outlook are trading in one direction, is that a good indicator that price will move that way? I'm looking to find out what the best way to utilize this data is.
forex_trader_451135
Tham gia từ Aug 11, 2017
6bài viết
Aug 20, 2017 at 07:04
Most of the traders in the community outlook are martingale. They open trades in the opposite direction of the trend and wait for price to return. It is best to trade in the opposite direction as the majority are doing. However, the outlook is NOT a timing tool. Wait for a trend to resume movement that is opposite the outlook data. I use the sentiment data available on dailyfx.com.
Tham gia từ Aug 21, 2017
12bài viết
Aug 21, 2017 at 11:47
Even the traders on MyFXBook community is a tiny subset of the money flowing in the FX system so is not reflective of real market sentiment
Tham gia từ Apr 18, 2017
920bài viết
Oct 22, 2017 at 14:23
No, it’s not working like that! We all are the retail trader, only 3-5% in the whole market! So, it’s not easy to manipulate the market.
Tham gia từ Feb 12, 2016
427bài viết
Oct 26, 2017 at 15:22
If you see a lot of traders going one way of the market - this does not mean the price will go the same direction. Also this may be a Market Abuse that can mislead you to lose. Be careful.
Accept the loss as experience
Tham gia từ Aug 23, 2016
30bài viết
Oct 27, 2017 at 09:32
I have designed a trading system using community outlook as a reverse indicator. I have been live trading it for a month after four months on a demo account. If you use this community outlook as an indicator you are certainly on the right path but it is important to remember it requires discipline and tight stops
https://www.myfxbook.com/members/Costarican96/pvm-myoutlook/2161736
https://www.myfxbook.com/members/Costarican96/pvmfx-live/2267351
https://www.myfxbook.com/members/Costarican96/pvm-myoutlook/2161736
https://www.myfxbook.com/members/Costarican96/pvmfx-live/2267351
Tham gia từ Sep 23, 2019
1bài viết
Apr 14, 2020 at 04:28
(đã sửa Apr 14, 2020 at 04:37)
It is in fact possible to use it. I personally wait until it is above 93 percent going in a direction. I have alerts set. I then look to my charts and if it is a long sentiment I look for support about 50 to 100 pips or so below the current area. I have found that when more than 93 percent of folks are going in a direction the market rips in the opposite direction before then going in the direction of the consensus. This is done to stop out those folks and make the banks money. You can also wait for the rip, then ride it back in the right direction.
Tham gia từ Aug 16, 2019
25bài viết
Apr 25, 2020 at 13:23
Just because many people are trading in one direction does not necessarily mean that they are right,. Maybe they are all headed in that direction because they are copying each other. Some are going to read this reply and then head the other direction. So what is what. That is all uo to you.Go in the direction you want to go.
Tham gia từ Aug 20, 2019
21bài viết
Jun 21, 2020 at 14:26
You know, the point is that there are traders who trade against the trend and there are traders who trade against the trend. And both formats can be called working and efficient.
The other question is that most of the traders from these two groups use different methods of market analysis, choose different timeframes and even differently insure themselves in the market.
The other question is that most of the traders from these two groups use different methods of market analysis, choose different timeframes and even differently insure themselves in the market.
Tham gia từ Feb 26, 2020
6bài viết
Jun 23, 2020 at 09:00
it is very difficult for ordinary traders to influence the price in any way
Tham gia từ Dec 20, 2019
23bài viết
Jun 28, 2020 at 15:47
Sometimes I literally intuitively want to work in a different way than most traders do. Maybe it's some kind of intuition or something... But sometimes it really helps me to take money from the first step and make an effective trading session.
Tham gia từ Jun 22, 2020
39bài viết
Jun 29, 2020 at 08:08
An online trading community will provide you and all the other participants with a well defined structured method for trading, bartering, and selling goods and services worldwide.
These communities often provide you with an effective chatroom and forum sessions that are precisely designed to facilitate and develop an effective communication network among the members.
These communities often provide you with an effective chatroom and forum sessions that are precisely designed to facilitate and develop an effective communication network among the members.
Tham gia từ Jul 23, 2020
759bài viết
Oct 10, 2020 at 10:14
Jalath posted:I think it effect the price. So, trader should check trading volume before making a trade.
Just because many people are trading in one direction does not necessarily mean that they are right,. Maybe they are all headed in that direction because they are copying each other. Some are going to read this reply and then head the other direction. So what is what. That is all uo to you.Go in the direction you want to go.
Tham gia từ Jul 09, 2020
39bài viết
Oct 23, 2020 at 05:20
An online trading community can facilitate trading with a good outlook. It will also be very helpful and informative as it is a structured method of trading.
Tham gia từ Oct 14, 2020
25bài viết
Nov 06, 2020 at 13:07
By keeping a check of the trading volume, I get a better understanding of the market trend.
Tham gia từ Feb 26, 2014
15bài viết
Nov 07, 2020 at 08:28
When more than 80% of retail traders are short you can expect at least a nice pullback once they get squeezed out. Works well as long you can identify the squeeze move. If you enter early will find find yourself in the wrong boat.
Tham gia từ Oct 13, 2020
34bài viết
Nov 26, 2020 at 07:29
When you interact with traders and discuss your trades, you get an expert viewpoint. You become a better trader by learning what you are doing wrong.
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