Overview
Crowds move markets and at major market turning points, the crowdsare almost always wrong. When crowd sentiment is overwhelminglypositive or overwhelmingly negative ? it's a signal that the trendis exhausted and the market is ready to move powerfully in theopposite direction. Sentiment has long been a tool used by equity,futures, and options traders.
In Sentiment in the Forex Market, FXCM analyst JaimeSaettele applies sentiment analysis to the currency market, usingboth traditional and new sentiment indicators, including:Commitment of Traders reports; time cycles; pivot points;oscillators; and Fibonacci time and price ratios. He also explainshow to interpret news coverage of the markets to get a sense ofwhen participants have become overly bullish or bearish. Saettelepoints out that several famous traders such as George Soros andRobert Prechter made huge profits by identifying shifts in crowdsentiment at major market turning points. Many individual traderslose money in the currency market, Saettele asserts, because theyare too short-term oriented and trade impulsively. He believesretail traders would be much more successful if they adopted alonger-term, contrarian approach, utilizing sentiment indicators toposition themselves at the beginning points of major trends.
In Sentiment in the Forex Market, FXCM analyst JaimeSaettele applies sentiment analysis to the currency market, usingboth traditional and new sentiment indicators, including:Commitment of Traders reports; time cycles; pivot points;oscillators; and Fibonacci time and price ratios. He also explainshow to interpret news coverage of the markets to get a sense ofwhen participants have become overly bullish or bearish. Saettelepoints out that several famous traders such as George Soros andRobert Prechter made huge profits by identifying shifts in crowdsentiment at major market turning points. Many individual traderslose money in the currency market, Saettele asserts, because theyare too short-term oriented and trade impulsively. He believesretail traders would be much more successful if they adopted alonger-term, contrarian approach, utilizing sentiment indicators toposition themselves at the beginning points of major trends.
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