Hello guys, and maybe some lady too.
I open this thread because i want to share the banks position for FREE. You can get this information online subscribing to a website which maybe some of you know already. I am not here to advertise the website, i want only to make available the information for everybody.
I will post some cot report once per week, to understand what the big guys are doing and will share once a week the currency forecast from major banks.
Let me remind you something when you join the thread.
-Dont follow blindly their positions
-Always use a stop loss, sometime might happen they dont post stop loss, they can afford to go in negative, we get margin calls
-Take the trade when there is a good risk reward
-Position size is not going to be shown, they play with millions, use the size that suit your risk
-Might happen that they dont post take profit with some position. Decide for yourself and use good R:R, my suggestion... 1:1 at least.
-Dont take 2 counter trade with the same currency, some bank might go long, other short, up to you to decide, but dont take both
- You can use their trades to understand the view that they have on a currency
-Sometime they close the position earlier or they move the stop loss, it depends if they changed their view, i ll try to keep the thread updated as much as possible
-Cot report: i take the trade when i see the positions are at the extreme, when they are too loaded of longs or shorts it will reverse, so might happen that i wait few weeks, but the reversal is worth the waiting. I dont try to catch the move every week, is useless.
Use your technical skills and set your stop loss and take profit, But remember, dont use too tight stop loss, price might move against us a bit before reversing, we are using weekly chart for that.
And finally....manage the risk properly!!!
Enjoy the thread
I open this thread because i want to share the banks position for FREE. You can get this information online subscribing to a website which maybe some of you know already. I am not here to advertise the website, i want only to make available the information for everybody.
I will post some cot report once per week, to understand what the big guys are doing and will share once a week the currency forecast from major banks.
Let me remind you something when you join the thread.
-Dont follow blindly their positions
-Always use a stop loss, sometime might happen they dont post stop loss, they can afford to go in negative, we get margin calls
-Take the trade when there is a good risk reward
-Position size is not going to be shown, they play with millions, use the size that suit your risk
-Might happen that they dont post take profit with some position. Decide for yourself and use good R:R, my suggestion... 1:1 at least.
-Dont take 2 counter trade with the same currency, some bank might go long, other short, up to you to decide, but dont take both
- You can use their trades to understand the view that they have on a currency
-Sometime they close the position earlier or they move the stop loss, it depends if they changed their view, i ll try to keep the thread updated as much as possible
-Cot report: i take the trade when i see the positions are at the extreme, when they are too loaded of longs or shorts it will reverse, so might happen that i wait few weeks, but the reversal is worth the waiting. I dont try to catch the move every week, is useless.
Use your technical skills and set your stop loss and take profit, But remember, dont use too tight stop loss, price might move against us a bit before reversing, we are using weekly chart for that.
And finally....manage the risk properly!!!
Enjoy the thread
Twitter: Rummer_grapes
