Do you ignore sentiment?

I never covered that topic in school cuz I already know about it and I’m silly like that. Today I dismissed it completely, and to my dismay only really appreciated it after the fact, Ouch!

So this bad student is back to the school of Pipsology to make sure I got that darn sentiment thing ironed into ma head :slight_smile:

Are you talking about market sentiment? Of course its our primary goal to determine and follow it and there are tons on methods to figure out where the crowd heads in but best way I think are waiting for strong fundamentals. Other methods using technical indicators are near 50/50 really. :wink:

I think net positions from book ratios is sometimes helpful. All I know about strong fundamentals is to run away from NFP’s n such like. Or when so and so speaks and the market goes volatile.

Yes I totally ignore sentiments and purely trade only on technical.

Well there are some great answers here. Of course I agree with what you’re saying but not some of the methods described. It’s all starting to look like an interesting topic and i guess finding what works for you and how we might slightly improve is the order of the day.

For me I absolutely go on reading price action, we all love it, but! I sure ain’t got no time or head for candle shapes apart from the odd doji or marabuzu. Not interested in patterns although I do have an ABCD pattern detection indicator from PZ, always running, just in case lol.

I have a very high degree of pinpoint accuracy with entry and exit on reading price. And all of this is done on my style of pure technical analyses/reading price action.

On a last note, I think there is a crossover in the data, sentimental representing technical. Looking at net order positions on a graph always highlights key support and resistance areas, they are considered psychological even if they originated elsewhere.

Only volatility gives are the chance to racks up good amount of profit. In this times market becomes “weak” (I mean predictable), in other times (flat market) its almost impossible to predict where the prices heads (market is strong). That’s why a lot of traders are waiting for news or other fundamental releases to make huge profits because in other times the odds are always against you. I’m waiting for March 16 Fed decision and conference to trade the event with Hotforex. Now I’m carrying careful analysis of how market can react on both decisions and trying to find best way of reacting from myself.