Thanks. Not helpful I assume?
How to track the "smart money"?
- Thread starter farmerjohn1324
- Start date
There may be edge but I doubt in the way presented within the pages. Like all of these things...charts are cherry picked to support the author's argument. I'm sure if you were to look hard enough and test enough variables and combinations with the COT data you could find something that would add confidence to your trades. While reading I was trading more long term using daily charts and I think this topic goes well with that duration. I have since abandoned this approach for a number of reasons: 1. i find it easier to predict short term price direction, and 2. My account size is so small I couldnt stand the loose stops required to trade these choppy ass markets.
Now i focus on developing my skills in price action and basic market structure to a point that the COT data is irrelevant.
Has it improved your trading? I'm over half way through.
No.
As I said in the above post, I have abandoned the trading style that I felt might benefit from COT data. I have no use for it currently. That doesn't mean that you wont benefit though...we all must find our own sources of confidence to trade upon.
What's your trading style like now? I currently do S&P Futures only.