There is an article about trading the COT in this months Technical Analysis of Stocks and Commodities.
Its says that the NonCommercials and Small traders are always wrong and the Commercials are always right.
Just how right and how wrong they are depends upon the market.
Going against the Small traders, trading the NASDQ, would gave given over 700% profit in the last 8 years.
Going against the NonCommercials, trading the S&P, would have given over 300% profit.
Every market is different as to who is the worst.
As far as currencies, a study would have to be done.
Its says that the NonCommercials and Small traders are always wrong and the Commercials are always right.
Just how right and how wrong they are depends upon the market.
Going against the Small traders, trading the NASDQ, would gave given over 700% profit in the last 8 years.
Going against the NonCommercials, trading the S&P, would have given over 300% profit.
Every market is different as to who is the worst.
As far as currencies, a study would have to be done.