Understanding market sentiment is an essential tool for investors. Being able to identify the mood of where the market is heading can allow you to capitalise on the changing direction and in turn, trade on it.
Unfortunately, however, this is extremely hard to do, especially when you are trading on your own or without the benefit of being exposed to a large network or community of other traders to bounce ideas off and to share insights and observations with.
At Stock Market Education, we keep our Mastermind Groups small because we like the benefits that can be gained from being a part of a small, tight knit community that share a common goal, however with groups this size (up to 20 traders), there are times when you can get as much of a clear understanding of group sentiments on a particular stock.
This is where our Sentiment Polls come in; while you do your legwork with and bounce ideas off your Mastermind Group members, you can now also use these polls to get the input of the full cross section of our trading community. For example, if there are 500 members that are interested in your security, the sentiment polls will be sent to all 500 of them, giving an in depth indication of the group’s interpretation of the current market position and direction.
When electing your desired securities when you initially sign up for us, you will automatically get access to all Sentiment Polls for all your selections. For example, by selecting the silver plan, you will get access to all relevant Sentiment Polls for up to three different securities.
Why Do I Need Sentiment Polls?
Sentiment Polls are used for quickly gaining an insight into the feelings and learnings of a large subset of our community. Without these polls, you would typically be forced to do your own independent research, which could include finding news articles, forum posts/comments and other information dug up off the internet. The issue with this data, is that there is a lot of incorrect information out there and the quality of the materials you are reading to make your decision could be questionable. Without a doubt, there is more to be learnt from other traders and community members than you could ever learn from a blog or a news article. Our Sentiment Polls expand further on this, giving you the opportunity to learn what a larger segment of the trading community believes. This could include seasoned traders, experts in our stock or security and those with more specialised knowledge - essentially, you are getting a cross section of some of the best minds in trading today.
What If The Polls Are Wrong?
That is definitely a possibility - nothing in trading is a true science and there is always scope for mistakes and mis-reads of the market. However, by pooling the collective resources and smarts of hundreds of traders with one common goal, we can take as much of the uncertainty and risk out of the process.
Can Anyone Be Involved In These Polls?
Absolutely! Any one of our members can participate in, and see the results of, any of our sentiment polls. We truly believe that in order to get a true representation of our communities insights, we need as much participation from our members as possible. After all, at the heart of our community is a ‘tribe’ mentality, where we work together in order to benefit the group as a whole!