Forex trading and Twitter: spam, bots, and reputation manipulation. Mozetič, I., Gabrovšek, P., & Novak, P. K. Working Paper MIS2: Misinformation and Misbehavior Mining on the Web, 2018.
abstract   bibtex   
Currency trading (Forex) is the largest world market in terms of volume. We analyze trading and tweeting about the EUR-USD currency pair over a period of three years. First, a large number of tweets were manually labeled, and a Twitter stance classification model is constructed. The model then classifies all the tweets by the trading stance signal: buy, hold, or sell (EUR vs. USD). The Twitter stance is compared to the actual currency rates by applying the event study methodology, well-known in financial economics. It turns out that there are large differences in Twitter stance distribution and potential trading returns between the four groups of Twitter users: trading robots, spammers, trading companies, and individual traders. Additionally, we observe attempts of reputation manipulation by post festum removal of tweets with poor predictions, and deleting/reposting of identical tweets to increase the visibility without tainting one's Twitter timeline.
@article{mozetic2018bforex,
abstract = {Currency trading (Forex) is the largest world market in terms of volume. We analyze trading and tweeting about the EUR-USD currency pair over a period of three years. First, a large number of tweets were manually labeled, and a Twitter stance classification model is constructed. The model then classifies all the tweets by the trading stance signal: buy, hold, or sell (EUR vs. USD). The Twitter stance is compared to the actual currency rates by applying the event study methodology, well-known in financial economics. It turns out that there are large differences in Twitter stance distribution and potential trading returns between the four groups of Twitter users: trading robots, spammers, trading companies, and individual traders. Additionally, we observe attempts of reputation manipulation by post festum removal of tweets with poor predictions, and deleting/reposting of identical tweets to increase the visibility without tainting one's Twitter timeline.},
archivePrefix = {arXiv},
arxivId = {1804.02233},
author = {Mozeti{\v{c}}, Igor and Gabrov{\v{s}}ek, Peter and Novak, Petra Kralj},
eprint = {1804.02233},
file = {::},
journal = {Working Paper MIS2: Misinformation and Misbehavior Mining on the Web},
keywords = {DOLFINS{\_}T3.1,DOLFINS{\_}WP3,DOLFINS{\_}working{\_}paper},
mendeley-tags = {DOLFINS{\_}T3.1,DOLFINS{\_}WP3,DOLFINS{\_}working{\_}paper},
title = {{Forex trading and Twitter: spam, bots, and reputation manipulation}},
year = {2018}
}

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