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Sentiment data

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I use the client sentiment data for my trading, but I'd like to have the pairs I follow on a single page.  

Is there a way I can access that data from a feed to make my own customised page?  More specifically I'm after the trading activity data, so I can see the sentiment for the last hour. 

Thanks.

Edited by oziebloke

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@oziebloke,

Is that specifically IG's client sentiment? That may not necessarily be the sentiment overall in the world though most likely for trading it is.

Do you find that when you use IG's client sentiment data that you make correct trading decisions and trade in the right direction of the trade?

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5 hours ago, oziebloke said:

I use the client sentiment data for my trading, but I'd like to have the pairs I follow on a single page.  

Is there a way I can access that data from a feed to make my own customised page?  More specifically I'm after the trading activity data, so I can see the sentiment for the last hour. 

Thanks.

Hi, the IG sentiment data can be retrieved via IGs API or an easier option might be this page but it only shows daily (or weekly) change though it is updated regularly  throughout the day.

https://www.dailyfx.com/sentiment

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5 hours ago, TrendFollower said:

Is that specifically IG's client sentiment? That may not necessarily be the sentiment overall in the world though most likely for trading it is.

Do you find that when you use IG's client sentiment data that you make correct trading decisions and trade in the right direction of the trade?

Hey @oziebloke- The sentiment is the way IG clients are trading. Do you think it might be useful for the IG sentiment to be on the platform, potentially somewhere on the ticket? 

@Caseynotes- If you have any thoughts on this let me know. It would be great to have as many opinions on this as possible. 

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11 minutes ago, CharlotteIG said:

Hey @oziebloke- The sentiment is the way IG clients are trading. Do you think it might be useful for the IG sentiment to be on the platform, potentially somewhere on the ticket? 

@Caseynotes- If you have any thoughts on this let me know. It would be great to have as many opinions on this as possible. 

It's interesting sentiment and I do like to take notice and would like to see it on the ticket, it's a bit of a double edged sword though, do you go with it or be contrarian and go against it. If it was updated quickly enough it could also be used as something like a volume indicator which due to the way it's collated can be a bit laggy which is why tick volume is often more useful than real volume (number of trades rather than size of trades). Would be interested hearing other traders thoughts.

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1 hour ago, Caseynotes said:

It's interesting sentiment and I do like to take notice and would like to see it on the ticket, it's a bit of a double edged sword though, do you go with it or be contrarian and go against it. If it was updated quickly enough it could also be used as something like a volume indicator which due to the way it's collated can be a bit laggy which is why tick volume is often more useful than real volume (number of trades rather than size of trades). Would be interested hearing other traders thoughts.

I will have a look what we can do. But as you mentioned it needs to be updated, which I can check how often that can be done. Further to this it is just IG sentiment, not sentiment for all traders. 

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12 minutes ago, CharlotteIG said:

I will have a look what we can do. But as you mentioned it needs to be updated, which I can check how often that can be done. Further to this it is just IG sentiment, not sentiment for all traders. 

Thanks @CharlotteIG,  I'm thinking I've only seen brokers offer there own retail trader positions and it has seemed to collate well between different brokers so I would assume IG's own data would be sufficient and easier to collect and display, probably more timely as well.

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7 hours ago, TrendFollower said:

Is that specifically IG's client sentiment? That may not necessarily be the sentiment overall in the world though most likely for trading it is.

 

Exactly, and it's not anywhere as useful as the hedge fund/institutional investor sentiment indicators, which are hard to find and would be a fantastic value add alongside open interest and put/call ratios (but there's no chance of us getting them in the platform)

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If its only IG's client sentiment then we would first need to know how good IGs traders are compared to the rest :D

Then we could either specifically trade against it (if IG traders are ****) or go with it (if they are the best).

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2 hours ago, dmedin said:

 

Exactly, and it's not anywhere as useful as the hedge fund/institutional investor sentiment indicators, which are hard to find and would be a fantastic value add alongside open interest and put/call ratios (but there's no chance of us getting them in the platform)

Too many 'dark pool' swimmers. The best available is the COT weekly update which I was thinking of adding a more comprehensive one in Monday's Daily Dashboard thread.

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1 hour ago, DSchenk said:

If its only IG's client sentiment then we would first need to know how good IGs traders are compared to the rest :D

Then we could either specifically trade against it (if IG traders are ****) or go with it (if they are the best).

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@CharlotteIG,

If 75% of retail investors on IG lose money then IG's client sentiment could be a contrarian play. However for those who do not trade in a contrarian way it could be perceived as IG enticing its clients to trade in the direction of IG's client sentiment knowing that around 75% of these are losing traders.

I think one needs to establish whether IG's client sentiment is in line with say Hedge Funds, large Institutional investors, Investment Banks, etc. If it is then it may be worth including but if there are large differences then it would need to be looked into. 

If I was going to trade using IG's Client Sentiment data then I would most probably create a trading systems that goes the opposite direction. From past discussions on this forum with IG in relation to this very subject it has been explained to me when I questioned it that IG's Client Sentiment data is from IG retail traders with live positions. I would not encourage anyone trading just based on IG's Client Sentiment data. I would want to incorporate that with other technical signals and indicators and use them combined to make an effective trading decision. 

One of the reasons why I am unlikely to use it in my own personal trading as it would encourage me to trade against the direction of the trend and that is not something I am looking to do or believe in based on my own personal trading philosophy and trading principles. 

However, I can use some usefulness in it if combined with other signals and indicators. It could go in to 'decision making basket' and be used to assist when making trading decision but not on its own and this is an important point for those who are new to trading or relatively inexperienced. 

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On 25/10/2019 at 14:27, dmedin said:

Exactly, and it's not anywhere as useful as the hedge fund/institutional investor sentiment indicators, which are hard to find and would be a fantastic value add alongside open interest and put/call ratios (but there's no chance of us getting them in the platform)

@TrendFollower @Caseynotes @mark27 @DSchenk

It's best to get a feel for what everyone else would want on the platform so thank you for getting back to me. If you do have any other ideas that you feel would help with your trading, let me know. 

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1 hour ago, CharlotteIG said:

@TrendFollower @Caseynotes @mark27 @DSchenk

It's best to get a feel for what everyone else would want on the platform so thank you for getting back to me. If you do have any other ideas that you feel would help with your trading, let me know. 

 

The Commitments of Traders reports is the best one (IIRC - I'm going off something I've read :D )

I saw an IG or DailyFX article recently that had a diagram for 'institutional investor sentiment' vs. retail client sentiment on Bitcoin.  It would be very useful to be able to access this information from within the platform, and not have to surf away to a different website to get it.

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1 hour ago, dmedin said:

 

The Commitments of Traders reports is the best one (IIRC - I'm going off something I've read :D )

I saw an IG or DailyFX article recently that had a diagram for 'institutional investor sentiment' vs. retail client sentiment on Bitcoin.  It would be very useful to be able to access this information from within the platform, and not have to surf away to a different website to get it.

The COT data is published once a week (Friday at 8:30), I'm looking for a user friendly format that I can include in thread on Mondays.

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@CharlotteIG,

I agree with @dmedin's point above. 

IG have a piece this morning on Bitcoin and they too have resorted to CoT rather than solely use IG's client sentiment. It has an interesting piece using institutional long and short positions. 

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