COT myth?

[11bruce]

Hi Roger where did you get those COT indicators from? I'm a COT fan at the moment.

[Roger Damon]

Hey Bruce,

I get my data from a company called Shatterfield (www.shatterfield.com). I pay for the data and they provide the indicators and stuff. I use MetaTrader to show the COT stuff, but they probably have it in a way that will work for your software. I got the chart from their site instead of me making it myself. Sorry, but I don't know how to make pictures yet. I'm just learning to use it myself so I can't tell you much, but in MetaTrader, my charts look pretty much like the picture except that I have more charts on my screen. If it ends up working for you let me know and we can swap indicators and stuff.

[cornellj]

The research done here shows that no matter how good your information is, or which indicator you use, you will only have a 50/50 chance of taking the right position to profit from the trend in this market.

I believe the smart money will buy at a price they are comfortable with regardless of indicators. They will start buying/selling near their comfort level as they expect the marketprice will retrace. They use indicators sparingly.

Priceaction tells them what they need to know about the potential profits to be made from any new or existing trade.

[11bruce]

Thanks for the reply Roger. I'm using mt4 platform but I will see how my COT trading goes over the next few weeks before I fork out for a paid indicator service. I think position trading waiting 2-8 weeks for the COT extremes to work is the way to trade this market. You can't just wait a week or a few days and expect the commercial positions to pile in on one side ? Anyway happy trading to all.

[Roger Damon]

Bruce,

With the MT4 that I use, I get it from Interbank FX, and I think at this time the COT indicators that they have only work with their copy. But you can download the Interbank version at their website at www.interbankfx.com and then sign up for the demo. Their demo provides free FX data for 30 days, and then you just make another account and can keep using it without any problems. Just make a new demo account every month.

The Shatterfield group then has the data for free up to the end of last year that can tie into MT4. You can then download the free history and try it out with the free data from the Interbank version and see how you like it. At least it's a good feel for using the COT even if you never sign up or anything. Plus they have a lot of free training and stuff on their site so you can use that as well. You may as well take advantage of them since alot of their stuff is free. If they're going to leave it open for the public, then their loss .