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  • #1,194,961
  • May 30, 2021 4:51pm May 30, 2021 4:51pm
Quoting saninvestor
{quote} Simple: Trend is their (non commercial) friend. They add longs when trend is up and add short when rend is down. Not very wonderful indicator. This is what we can see only on the chart. It's better you enter long positions when trend is up. BUT, when something going up, it should turn down somewhere. Adding long positions by speculators doesn't mean trend continuation. They just follow the trend. They don't make the trend.
This is true, however COT provides much more information than just this. You can view the information in different ways, and use it different ways, maybe you want to look for tops/bottoms and trade reversals. Maybe you want to look for continuations. The data will support or not support you depending on what you are looking at...

You can just look at charts however what COT data can do for a trader is allow for a more mechanical approach, using these numbers to narrow down what pairs to look at and what pairs to avoid depending on what your particular strategy is, using process of elimination.
  • #1,194,962
  • May 30, 2021 4:54pm May 30, 2021 4:54pm
Attached Image (click to enlarge)
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Here we have the most recent COT data for SOYBEANS. We can see that there are much more positions on the LONG side than the SHORT side. You can also see this in the chart. But what is important is to see what happened this past week. We can see that managed money has REMOVED or taken profit on some longs, and more than what they did to the short side. What does this tell us? There could be a possible top here, or possible reversal, so continuing to BUY here is more risky, even though most of the managed money is still on the long side, those positions were accumulated overtime, at lower prices, and so it is important to understand that fact.
  • #1,194,963
  • May 30, 2021 4:57pm May 30, 2021 4:57pm
Attached Image (click to enlarge)
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Here we have GOLD. Similar to SOYBEANS, we have seen that overtime the price has gone up, and asset managers have accumulated more longs than shorts. The difference here though, is that this past week, they have also ADDED more longs, and taken profit/removed shorts. This indicated a possible continuation.
  • #1,194,964
  • May 30, 2021 4:59pm May 30, 2021 4:59pm
Quoting viptrading
{image} Here we have the most recent COT data for SOYBEANS. We can see that there are much more positions on the LONG side than the SHORT side. You can also see this in the chart. But what is important is to see what happened this past week. We can see that managed money has REMOVED or taken profit on some longs, and more than what they did to the short side. What does this tell us? There could be a possible top here, or possible reversal, so continuing to BUY here is more risky, even though most of the managed money is still on the long side, those...
Good example.
That's right.
Trade to enjoy... Money is after!
  • #1,194,965
  • May 30, 2021 4:59pm May 30, 2021 4:59pm
Of course, you need to still use TA for entries once you build a bias, and also understand what is going on overall in the markets, but IMO COT can be very useful as an additional tool/filter if used correctly. But you need to understand how to use it to your advantage.
  • #1,194,966
  • May 30, 2021 5:06pm May 30, 2021 5:06pm
I am not going to post the screenshot because I am too lazy, but if you look at the USD COT data it is much weaker than the data we have for GOLD both long and short term. Also they have added more shorts recently indicating further weakness.

So we know GOLD = STRONG. USD = WEAK. based on COT data alone. Then you can factor in other news such as inflation, the overall boom we have seen this year in commodities etc.

This all points towards a highly probable long set up for gold. So now you pick your entries, and this week we saw the results for XAUUSD

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  • #1,194,967
  • May 30, 2021 5:34pm May 30, 2021 5:34pm
Quoting viptrading
{image} Here we have GOLD. Similar to SOYBEANS, we have seen that overtime the price has gone up, and asset managers have accumulated more longs than shorts. The difference here though, is that this past week, they have also ADDED more longs, and taken profit/removed shorts. This indicated a possible continuation.
Are you getting your COT report screenshots from https://www.tradingster.com/?
Learn from your mistakes and march on.
  • #1,194,968
  • May 30, 2021 5:37pm May 30, 2021 5:37pm
Quoting here2there
{quote} Are you getting your COT report screenshots from https://www.tradingster.com/?
Yessir.
  • #1,194,969
  • May 30, 2021 6:04pm May 30, 2021 6:04pm
Quoting viptrading
{quote} The report is one week late. So the data is delayed, therefore you should look at the most recent data and not the overall position they hold. Those positions asset managers hold were built up overtime, so its silly to think you will get the same results following simply that data...
The report is 3 days late. It comes out on Tuesday for institutions and comes out on Friday for the public.
  • #1,194,970
  • May 30, 2021 6:26pm May 30, 2021 6:26pm
Quoting Techanalyst
{quote} The report is 3 days late. It comes out on Tuesday for institutions and comes out on Friday for the public.
Yes. But by the time you use the data to your advantage it will most likely the coming Monday session and throughout the next week, effectively you are using last trading weeks data. But that is fine, since you can still use it to your advantage.
  • #1,194,971
  • May 30, 2021 7:11pm May 30, 2021 7:11pm
Quoting viptrading
{quote} Yes. But by the time you use the data to your advantage it will most likely the coming Monday session and throughout the next week, effectively you are using last trading weeks data. But that is fine, since you can still use it to your advantage.
That is the point of COT. Is to keep adding positions as institutions are adding. Long term. Of course confirming it on the chart too. I confirm it with supply/demand, where you need to know where banks and institutions are adding positions or taking profits off, that is where S&D comes in too. So once COT reports are out on Friday at 3:30PM, you can already plan ahead and decide if you are buying, selling or not taking a trade on a specific currency pair. Also you can check out retail sentiment indicators and also use it as a tool in trading.
  • #1,194,972
  • May 30, 2021 8:01pm May 30, 2021 8:01pm
Quoting Techanalyst
{quote} That is the point of COT. Is to keep adding positions as institutions are adding. Long term. Of course confirming it on the chart too. I confirm it with supply/demand, where you need to know where banks and institutions are adding positions or taking profits off, that is where S&D comes in too. So once COT reports are out on Friday at 3:30PM, you can already plan ahead and decide if you are buying, selling or not taking a trade on a specific currency pair. Also you can check out retail sentiment indicators and also use it as a tool in trading....
It all depends on how you want to utilize the data. If you are looking to build up a large position overtime in the same way that institutions do, then I would argue the best way to do this is to buy low and sell high.

You must use extremely low risk this way, and then add to your positions each week for example, and ride the BIG moves up and down, as institutions do. In this way it really is pointless to try and hop on an existing trend, but rather try and pick tops and bottoms and ride the data before the changes happen. The issue with this is noone really knows where the top is, and you really need to have a huge bankroll to trade how they do.

So, that leaves us with skimming off the top, and finding entries to add weekly and day trade with.
  • #1,194,973
  • May 30, 2021 11:01pm May 30, 2021 11:01pm
2150 is my decision point for bullish or bearish
  • #1,194,974
  • May 30, 2021 11:04pm May 30, 2021 11:04pm
OOn monthly chart for the past 2 months asset managers have been buying regularly e on 5 minute charts retail traders have been selling regularly who is correct
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  • #1,194,975
  • May 30, 2021 11:10pm May 30, 2021 11:10pm
IIf I look at the Friday candle and I also look at the daily chart for the past one month of May what should I be trading today
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  • #1,194,976
  • May 30, 2021 11:39pm May 30, 2021 11:39pm
Good morning, some levels

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Have a great trading week ahead.
Looking for profitable short term trades ...|
  • #1,194,977
  • May 30, 2021 11:58pm May 30, 2021 11:58pm
weekly fib, price may try for 2215 but being last day of May anything can happen today
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  • #1,194,978
  • May 31, 2021 12:15am May 31, 2021 12:15am
since general trend is for buying so above 2200 i will only buy with a target of last week high
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  • #1,194,979
  • May 31, 2021 12:23am May 31, 2021 12:23am
settings on my scalper ea

newtrades true means start buying

tm means use 1 month time frame for deciding direction of trade

target set for last week high

lts 0.995 means protect 99.5% and use only 0.5% for trading

see its a 100% manual ea where I decide what to do, ea just takes 0.01 lot trades and hundreds of those lmao
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  • #1,194,980
  • May 31, 2021 12:25am May 31, 2021 12:25am
Quoting PatienceFx
settings on my scalper ea newtrades true means start buying tm means use 1 month time frame for deciding direction of trade target set for last week high lts 0.995 means protect 99.5% and use only 0.5% for trading see its a 100%$ manual ea where I decide what to do, ea just takes 0.01 lot trades and hundreds of those lmaop {image}
now i just sit back and relax
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