How Cindicator creates 150+ questions a week to cover market opportunities
If you’re new to Cindicator’s Collective Intelligence platform, the feed with dozens of questions might initially appear daunting. There are so many assets and so many opportunities! Today’s post will help you to find your way around Cindicator’s questions and use them to achieve your goals as an analyst or trader.
Types of questions
The Cindicator app allows you to make market forecasts for digital assets, stocks & futures by answering questions on the platform. Answers to questions are then fed into Cindicator’s Machine Learning pipeline to create predictive indicators that are sent to CND token holders.
Every week, the Cindicator team asks about 150 questions. About 65% of them are currently about cryptocurrency markets and the rest are about the global financial market (major currency pairs, S&P 500, oil futures, gold futures, market-moving events, etc).
There are several types of questions:
- Binary questions are about the probability of events that can either happen or not (e.g. is asset X going to reach value Y by a certain date?);
- Range questions are about a price range over a given period (What will be the minimum and maximum prices for asset X by a certain date?);
- Rank questions ask you to arrange assets in a certain order (Arrange a group of assets by their return by a certain date);
- Value questions ask you to predict a specific value (What will be the maximum price by a certain date?);
- Open questions are answered by entering text (What will be the key factors for X by date Y?).
- Date questions ask you to select a date for a given event (When will event X happen?).
You can always find more info about each question type in the FAQ.
To create questions, the Cindicator team of financial analysts constantly monitors the market. This is done by:
- Closely following the news;
- Tracking key macro metrics, such as overall digital asset market capitalisation;
- Monitoring major upcoming events;
- Listening to Twitter conversations;
- Monitoring fundamental developments;
- Determining interesting assets or sectors together with the quant department;
- Examining charts for technical indicators.
The Cindicator team uses several different approaches to choose assets. Some questions are predefined, such as daily/weekly questions. These questions, including for example daily Bitcoin questions, don’t depend on market conditions or news. Other questions are based on research conducted by the team. For community choice indicators, Cindicator also calls on the community to propose assets which are interesting to them.
Price targets and deadlines are also selected using several approaches. For some questions, there are predefined deadlines according to the questions schedule. For others, the team monitors upcoming events, the market, and the level of price volatility in order to define appropriate deadlines and targets.
Additionally, the Cindicator team constantly monitors the sentiment of analysts on the platform, Including for example how they interact with different asset types or question mechanics. Based on this feedback, the team adjusts the number of questions per week.
How you can use Cindicator’s questions
The most obvious way is to just answer as many questions as possible as accurately as possible to get part of the monthly prize fund (1.25 BTC and $7,500). But that’s not all!
Questions as market analysis trainer
Many of our users answer questions to improve their skills in market analysis and forecasting. Practice is the surest way to build skills and forecasting is no different.
Of course, you can always just open up any exchange, reviewing charts, making predictions and recording them by hand in a Google Sheet… this is time-consuming and rather unexciting.
It’s a lot easier to practice market forecasting with Cindicator:
- Don’t search for assets to analyse – there are new questions every day about a wide range of digital assets, stocks, futures, and more;
- Make a forecast in just a few clicks – you don’t have to find the charts (they’re right there in Useful Links) or manually record the target price, date, etc., it’s all done for you by Cindicator;
- Check results automatically – don’t waste time digging up actual price levels and checking them against your predictions, just get an instant notification once the results are known;
- Keep a complete record of your market calls – never forget to write anything down!Compare your results with others – a 60% accuracy level could be great or mediocre depending on the market cycle, but with Cindicator you can compare your results with thousands of analysts from around the world.
If you need help in starting to learn market analysis, take a look at the guide for beginners put together by Jonathan Martin, a Cindicator ambassador with an average accuracy of over 78%.
Questions as forecasting diary
Suppose you’re already watching your favourite assets, but don’t really feel comfortable doing swing trading. You can test your understanding of the market by using Cindicator’s weekly min & max price questions as a kind of market diary that is easy to maintain and review.
- Answer weekly questions about the assets you follow;
- At the start of the next month you’ll get some rewards (or not!) – it’s a simple metric that will show whether you are mostly correct about weekly support & resistance lines or not;
- You can find results of all your forecasts in the Statistics screen and can also request an export of your data to pore over in Excel or elsewhere.
Questions as pointers for trading
Some users also follow the questions to identify which of the 2,000+ digital assets are worth looking into at the moment.
Here is what Ash, Cindicator’s all-time leader in the traditional markets, says:
“I analyze Cindicator’s current and historical questions, use TA, and based on the points/prices they place in the current Question, I make my forecast and trade.
For example, LTC was forecast to break 10,298. According to the chart, it was a tough one, so I forecasted 75% probability, and just traded on it in the last hour. Bought at 10088 and sold at 11000.
Another way to benefit from Cindicator’s questions is when they have a min/max price range. That sorts of helps you place your exit and stop loss points, after conducting your own homework.”
Questions about questions?
In this post, we’ve looked at different types of questions, how they are created, and how you can use them.
If you still want to know more about how Cindicator creates the questions, please leave a comment and someone from the team will reply.
Meanwhile, check out which questions are live now and answer to win part of the monthly prize fund of 1.25 BTC and $7,500!