Sentiment Analysis Using Tweets

Why is using sentiment analysis in trading so important? Sentiment Analysis helps to provide a holistic picture of how market prices change in the current environment. In the context of sentiment analysis, tweets often yield a vast array of data. This video introduces you to the basic concept of Sentiment Analysis and how to get Twitter data for sentiment analysis to create a strategy. We can discuss sentiment analysis basically “what sentiment analysis is?”. In the introduction about Public Sentiment, what the public thinks about a particular stock so how about understanding that and then creating a trading strategy so with this idea as a foundation we can create strategies. This is a general flow so it's just a most basic flow so you can collect tweets or news. “How can you get public data” - There are three ways Either you can collect social media data like tweets so tend to see if you go to Twitter and type any ticker you will see thousands and thousands of tweets on it which will be updated every minute. The second way is you can collect the data and understand the sentiment using some processes which we have discussed or you can also collect news so generally, we are used to seeing news like in Bloomberg or CNN online and try to understand what public or analysts think about a stock. And try to come up with some sentiment individually, but you can also do it quantitatively by collecting the data collecting the news data. The third way is to understand the options market