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What is Armentex?


Armentex is a voting tool built to discover trends on the forex market based on the theory of Wisdom of the Crowd.

This theory claims that the collective opinion of a group of people presents an equal or better result than that of each individual of the group. We want to use this in order to predict movements on the market. While trading, everyone gathers information and builds their own prediction how trends will continue. While some do so through technical analysis, others consider news and events, and a few might even consult their fortune teller. There are countless resources one can use to make a decision, but no one can consider them all. By collecting the opinions of traders from all over the world, we want to unify as many sources as possible, and make predictions that are more reliable than those of a single person.

By combining our knowledge and information through Armentex, everybody wins. You can compare your own thoughts, strategies and predictions with those of many other traders, and benefit from all the research and hard work they did to reach their decision, just like you.

Armentex is free to use. All you have to do to participate is share your opinion whether the rate is going to rise or fall.
Never trade alone, trade with the crowd! Join now!




How does it work?

A short summary:

At the start of every hour a new poll begins. Traders can vote whether they think the exchange rate of a currency pair is going up or down from the start of the poll until the end. Voting will be open for a certain time, and after that, the poll will be closed. The result is locked at that point, and only members who voted will be able to see it.

The result is displayed in two ways: 

Clean: Every vote counts exactly one point.

Weighted: Some votes "weigh" more and will have more impact on the outcome of the poll. The weight of a vote is dependent on the score of the user who cast it.
 

In the Weighted result, users with more experience and good results in the past have more influence on the outcome. This, and all other parts of our voting system, will be explained more in-depth now.

 

Voting

Polls usually last one hour. At the beginning, the voting is open, and any registered user can participate and share their opinion. If you vote, you will see the result immediately, but it can still change until the voting period is over, and the result is locked in. From that point on, it is no longer possible to vote, and only registered users who voted, or Premium members, can see the result.


Note: Armentex uses UTC Time, the same time zone as the London exchange. Votings always start and end at full hours, so it's not necessary to convert it. You can just assume that the hour is the same as in your timezone, and minutes will be the same anyway. If you want to convert the time, you can use this website.


Keep in mind that no matter when you vote, the question is always if the exchange rate will go up or down until the end of the poll. The exchange rate at the end is compared to the start of the poll, not the time you cast your vote.

This graphic shows the timeline of a vote for better understanding.



 

Score System

Armentex keeps track of user performance with a score system. Every time a user votes correct, one point is added to their user score. For a wrong vote, one point is subtracted. The user score can not be negative, but simply guessing will keep it around 1, so try your best to get it higher!

Your vote is correct if it matches with the real development of the currency pair. For example, if you voted UP and the exchange rate at the end of the poll is higher than at the start, your vote is correct.

NOTE: The overall outcome of the vote does not matter in regards to getting a point. If the majority votes DOWN in the Poll, but in reality, the exchange rate goes UP, everyone who voted UP will get a point, even if they were in the minority in the Poll. 

Your user score is displayed in the top left corner of the page, right below your username. It shows how well you performed at the votings, and gives an indication on how good your predictions are!

 

Results

There are two results displayed for every vote: Clean and Weighted.

In the Clean result, every user counts as exactly one vote.

The Weighted result was created to give experienced users more influence on the outcome of a poll. Every vote counts according to the score of the user who cast it. A high score means that the user has performed well in the past, so the Weighted result should have a higher chance of success than the Clean result. Both are displayed, so you can reach your own conclusions by comparing them.




The picture above is an example of the difference in the results. Two people voted for different outcomes. The Clean result ended in a draw, but the Weighted result shows a big difference. The user who voted “Up” has a much higher user score as a result of good performance in the past. The user who voted “Down” is a beginner and has a very low score. The result shows the opinion of the experienced trader.



Chart

The current result is displayed above the chart. The bars and arrows on the chart itself show previous results. The different elements will be explained now:


 

The arrow on top of the bar shows the result of the poll, and the color of the bar shows if the result was correct or not.

In this example, the important rates for bar 1 are labeled A and B. The arrow (red and pointing down) shows that the result of the Poll was that the rate would go DOWN. In point B, the rate is lower than in point A, so the Poll was correct, and the bar is green. In bar 2, the Poll said that the rate would go UP, so the arrow on top is green. The Poll was correct, and the rate did go up, so the bar itself is also green. In bar 3, the result was that the rate would go DOWN, but it really did go UP, so the poll was wrong, and the bar is red.


Forex trading is very risky, and there is a chance of losing all your invested capital. This website is for informational purposes only. Nothing displayed on this website is to be understood as investment advice. We are not responsible for any losses you might suffer as a result of trading according to information displayed here. Please read our Terms of Service for further information.



If you have any questions about Armentex, feel free to contact us at info@armentex.com !