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    Thread: How to Develop a Sentiment-Based Approach?

    1. #11
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      I consider that it is in fact it is so hard to expand a sentiment pedestal approach. However, you require to be acquainted with on the subject of your paired countries economic circumstances.


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      I did not so understand the pattern of market sentiment because I also do not quite know how the right way to be able to provide some analysis that has always made ​​me believe that the market sentiment and it is going to make us know that we should do a re-analysis that we no error occurs due to market sentiment.


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      you have to consider you tolerance for risks , then you have to consider your ability and patient as well as discipline to wait for a trade to become profitable even when the trade seems to not be doing pretty well at the present time.


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      Quote Originally Posted by abhinavsahoo View Post
      As a trader, it is your job to gauge what the market is feeling. Are the indicators pointing towards bullish conditions? Are traders bearish on the economy? We can't tell the market what we think it should do. But what we can do is react in response to what is happening in the markets.

      Note that using the market sentiment approach doesn't give a precise entry and exit for each trade. But don't despair! Having a sentiment-based approach can help you decide whether you should go with the flow or not. Of course, you can always combine market sentiment analysis with technical and fundamental analysis to come up with better trade ideas.

      In stocks and options, traders can look at volume traded as an indicator of sentiment. If a stock price has been rising, but volume is declining, it may signal that the market is overbought. Or if a declining stock suddenly reversed on high volume, it means the market sentiment may have changed from bearish to bullish.
      Market sentiment alone can't be used for trading forex and the main force behind sentiment is volume and of course we don't have centralized volume data.
      This is why it's not good to use market sentiment to trade forex. However, if you go to forex futures then you can use this strategy better because the volume is centralized.


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      Quote Originally Posted by 22gost** View Post
      you have to consider you tolerance for risks , then you have to consider your ability and patient as well as discipline to wait for a trade to become profitable even when the trade seems to not be doing pretty well at the present time.
      Yes I also agree with you completely. Every trader must consider the risk before entering a trade to avoid losing too much money.
      Also we need to be patient to avoid getting into the market when the market is actually not in good condition to give us profit.
      Traders don't know the future that is why traders need market scenarios.


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      Quote Originally Posted by Beautiful Quynh View Post
      Yes I also agree with you completely. Every trader must consider the risk before entering a trade to avoid losing too much money.
      Also we need to be patient to avoid getting into the market when the market is actually not in good condition to give us profit.
      How to tolerate ther isk when using sentiment approach whent here is no real number to count on in your chart?
      I don't know about this and that is my question for you. I think sentimenet apporach is not technical so no solid price data to use.


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