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Title: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on August 10, 2019, 05:52:16 PM https://i.imgur.com/uJpunzn.jpg (http://scalpexindex.com/?utm_source=bitcointalk&utm_campaign=eng) How it works We undertook a massive amount of work to collect data from a wide variety of sources, including Twitter, Facebook, Telegram, chats of major crypto exchanges (BitMEX and others) and much more. We built models that "learned" to recognize when a particular message is a direct forecast/advice to buy or sell bitcoins, and populated them with real-world trade data from leading cryptocurrency exchanges. This is how we established a correlation between what people tend to write in chats and how it affects bitcoin rate over the medium term. Based on this, we developed a number of versatile instruments that facilitate successful trading. The package includes both the instruments that allow to view and study historical data and those that present the information in real time. https://i.imgur.com/d81pWWK.jpg (http://scalpexindex.com/app?utm_source=bitcointalk&utm_campaign=eng) https://i.imgur.com/qosBWsD.jpg (http://scalpexindex.com/app?utm_source=bitcointalk&utm_campaign=eng) https://i.imgur.com/zm3Vbe8.png (https://t.me/scalpexin) Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: Unclownbtc on August 12, 2019, 08:40:04 AM This is just garbage. They say “long is wrong,” but your gauge shows the green arrow. You guys have no idea what you’re doing.
Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: N0sferatu on August 12, 2019, 09:53:32 AM ...and how does your tool handle causalities?
Isn't it going to highlight the word "sell" if i spam "don't sell" everywhere? ;D Also, what "users" are you referring to? (see point "user ratings") The whole thing seems pretty irrelevant to me, sorry! Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: GreatArkansas on August 12, 2019, 12:38:59 PM Is this tool helpful for every trader? Like for example in Technical Analysis, since this is social data analysis, it may be considered as Fundamental Analysis or can be also Technical Analysis.
But if you are a trade and totally relying on this kind of tool, it will not really help you as a trade, you still need to study how to analyze the chart. For me, this kind of tool is something like an indicator in the chart which can also be another tool that will help you for analyzing. I love how you collected the data and analyze it, especially in trading cryptocurrency. Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on August 12, 2019, 10:53:07 PM This is just garbage. They say “long is wrong,” but your gauge shows the green arrow. You guys have no idea what you’re doing. What you’re looking at is just a raw real index – you can make your own decisions on how it correlates with the bitcoin price on this market and draw your own conclusions regarding trading strategies. We provide no financial advice whatsoever, we’re just arming you with information.Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on August 12, 2019, 10:54:41 PM ...and how does your tool handle causalities? Thanks for your great question. The reality is that our algorithm works a little differently than it appears. We are more or less grouping the messages over a particular period of time, and this is what must’ve confused you. We’ll try to make things clearer so that we don’t mislead anybody else in the future. Thanks for pointing out this logical error.Isn't it going to highlight the word "sell" if i spam "don't sell" everywhere? ;D Also, what "users" are you referring to? (see point "user ratings") The whole thing seems pretty irrelevant to me, sorry! Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on August 12, 2019, 10:55:11 PM Is this tool helpful for every trader? Like for example in Technical Analysis, since this is social data analysis, it may be considered as Fundamental Analysis or can be also Technical Analysis. Thank you very much for your interest in our service. We have asked for feedback from many traders, and they all seem to want different things. Ours is just one tool, it is not a direct call to action, it is designed to just provide you certain new metrics and logic. To trade successfully, one needs to have a whole range of tools plus a lot of common sense. Remember, we are not offering financial advice, so we recommend that you take our tools and information into account but don’t rely on them.But if you are a trade and totally relying on this kind of tool, it will not really help you as a trade, you still need to study how to analyze the chart. For me, this kind of tool is something like an indicator in the chart which can also be another tool that will help you for analyzing. I love how you collected the data and analyze it, especially in trading cryptocurrency. We are developing a whole other set of tools, thanks for the suggestion, and your feedback is very valuable. We are working hard on improving our tools and will also soon be releasing a detailed FAQ in which we will try to provide examples of how every tool works. We are also planning to produce and post a video tutorial of how to use our platform. That should be helpful, we hope. Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: Unclownbtc on October 18, 2019, 04:00:10 PM What exactly is Open Interest, and what does it mean for my trading?
Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: adroitful_one on October 18, 2019, 10:38:08 PM What exactly is Open Interest, and what does it mean for my trading? I think what they mean by that is they're basing the rise or fall in price off of how people are socially talking about Bitcoins. They're saying if there's hype the price will go up or whatever. I wouldn't trust my life savings with it. It could get it right every now and then, but even when there's a huge selloff, there will be a lot of people talking about Bitcoin. Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: th3nolo on October 19, 2019, 08:33:31 PM What exactly is Open Interest, and what does it mean for my trading? First read this Open interest is the total number of outstanding derivative contracts, such as options or futures that have not been settled for an asset. The total open interest does not count, and total every buy and sell contract. Instead, open interest provides a more accurate picture of the options trading activity, and whether money flows into the futures and options market are increasing or decreasing. The Importance of Open Interest Open interest is a measure of market activity. Little or no open interest means there are no opening positions, or nearly all the positions have been closed. High open interest means there are many contracts still open, which means market participants will be watching that market closely. Open Interest and Trend Strength Open interest is also used as an indicator of trend strength. Since rising open interest represents additional money and interest coming into a market, it is generally interpreted to be an indication that the existing market trend is gaining momentum or is likely to continue. Many technical analysts believe that knowledge of open interest can provide useful information about the market. For example, if there is a deceleration in open interest following a sustained move—either up or down—in price, then it might be foreshadowing an end to that trend. I believe that open interest is a good momentum indicator for the trend, in fact, many Bitmex traders believe that OI is the holy grail for trading. So the next time you're about to open a position on a trading platform, remember to check the OI Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 21, 2019, 01:45:37 PM First read this Open interest is the total number of outstanding derivative contracts, such as options or futures that have not been settled for an asset. The total open interest does not count, and total every buy and sell contract. Instead, open interest provides a more accurate picture of the options trading activity, and whether money flows into the futures and options market are increasing or decreasing. The Importance of Open Interest Open interest is a measure of market activity. Little or no open interest means there are no opening positions, or nearly all the positions have been closed. High open interest means there are many contracts still open, which means market participants will be watching that market closely. Open Interest and Trend Strength Open interest is also used as an indicator of trend strength. Since rising open interest represents additional money and interest coming into a market, it is generally interpreted to be an indication that the existing market trend is gaining momentum or is likely to continue. Many technical analysts believe that knowledge of open interest can provide useful information about the market. For example, if there is a deceleration in open interest following a sustained move—either up or down—in price, then it might be foreshadowing an end to that trend. I believe that open interest is a good momentum indicator for the trend, in fact, many Bitmex traders believe that OI is the holy grail for trading. So the next time you're about to open a position on a trading platform, remember to check the OI This is a really good and complete answer. Thank you for efforts. Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: allmight_ on October 22, 2019, 09:57:33 AM I don't understand how you are related to Bitmex ? They don't mention scalpex anywhere.
Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: elda34b on October 22, 2019, 12:55:37 PM I don't understand how you are related to Bitmex ? They don't mention scalpex anywhere. They're not. They just scraped their data from Bitmex. Why did you assume they're related to Bitmex in the first place? Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: allmight_ on October 22, 2019, 03:12:38 PM I don't understand how you are related to Bitmex ? They don't mention scalpex anywhere. They're not. They just scraped their data from Bitmex. Why did you assume they're related to Bitmex in the first place? Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: allmight_ on October 22, 2019, 09:16:49 PM It is sad that you did not make your service at the beginning of this year, when bitcoin began a good upward movement.
Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: Unfunnybtc on October 23, 2019, 02:52:54 PM Social Index and Market order flow are somehow related to each other ? I mean, if the chat rooms say "down" then it's a sale ?
Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 23, 2019, 07:30:07 PM I don't understand how you are related to Bitmex ? They don't mention scalpex anywhere. No, we are not related to the BitMEX exchange, but we do use their market data, since it is the number one liquidity provider in the market. Additionally, we are part of their marketing affiliate programme. If you would like to use our affiliate link to get a 10% BitMEX fee discount for 6 months, please feel free to do so :) bitmex (https://www.bitmex.com/register/ZbAKh7)Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 24, 2019, 01:14:03 PM Social Index and Market order flow are somehow related to each other ? I mean, if the chat rooms say "down" then it's a sale ? Social index changes lead to sudden price fluctuations. To be fair, in the majority of cases, the price goes opposite of the general market mood (but it depends severely on the phase of the market), therefore, if you are one to counter-trade chat room opinions - this tool is first to display the market mood, be it bullish, bearish or neutral.The market order flow indicator, located right next to the social index indicator, is the ratio of market buy : market sell orders. (i.e.: current short-term trend). Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: Unfunnybtc on October 24, 2019, 08:04:02 PM Social Index and Market order flow are somehow related to each other ? I mean, if the chat rooms say "down" then it's a sale ? Social index changes lead to sudden price fluctuations. To be fair, in the majority of cases, the price goes opposite of the general market mood (but it depends severely on the phase of the market), therefore, if you are one to counter-trade chat room opinions - this tool is first to display the market mood, be it bullish, bearish or neutral.The market order flow indicator, located right next to the social index indicator, is the ratio of market buy : market sell orders. (i.e.: current short-term trend). Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: nelson4lov on October 24, 2019, 08:45:27 PM Great work. I love when people are building awesome stuffs with data. I'm a machine Learning aspirant currently pursuing a degree in computer science. That's by the way. Well I was wondering if you can add a functionality that would use
open/closed prices from exchanges and coinmarketcap.com and then formulate a learning model that would predict future prices? That would go a long way along with the data you're currently using for Scalpex index. Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 25, 2019, 10:24:17 AM Great work. I love when people are building awesome stuffs with data. I'm a machine Learning aspirant currently pursuing a degree in computer science. That's by the way. Well I was wondering if you can add a functionality that would use Thank you for your feedback, and we are glad you are enjoying your experience! Future price prediction is a complicated task - it’s a challenge to accurately predict future prices per se.open/closed prices from exchanges and coinmarketcap.com and then formulate a learning model that would predict future prices? That would go a long way along with the data you're currently using for Scalpex index. For now we are working on creating useful indicators, which can be used as a base for users to predict the direction in which the price will go. Stay tuned for updates, we have a lot of new services underway! Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 30, 2019, 10:01:40 AM We are delighted to announce a new addition to the ScalpexIndex (https://scalpexindex.com/app/bitcointalk) platform in the face of the Fear & Greed Index. This indicator is to be used alongside the Social Index to capture an even fuller scope of crowd reactions and adjust trading decisions accordingly. *Kindly note that this index is not our personal invention, we are solely enjoying the privilege of having it join our indicator portfolio. Furthermore, you can now follow our news and updates, as well as reach out to us on Facebook (https://www.facebook.com/scalpexindex) and Twitter (https://twitter.com/ScalpexIndex)! These are going to be our main means of communication, so please like and follow to stay tuned :) We will also be conducting a poll in the coming days to see which additional services you would like us to deliver, so please help make ScalpexIndex even better by taking part! :) Title: Re: Scalpex index - Social data analysis for bitcoin market forecasting Post by: hadorgcrypto on October 31, 2019, 01:14:57 PM Hey all!
We strive to make ScalpexIndex even better, and additional services are a crucial part of it! Naturally, service development takes some time, so we can’t offer everything at once. This is why your opinion is of such great importance at this point. Please take a minute to pick a service of number-one priority to you :) Also, kindly share this poll with fellow traders. We could use as much feedback as possible :) Which service should we deliver first? Please pick 1 of the options below. https://t.me/scalpexin/589 |
