All Traders are losers!

[tymen1]

…
You have little control over what happens to the trade after entry.
…

[B]You don’t say!!![/B] :o

Come on [B]AssetBuilder[/B]!!

Enough dribble!! :o

Post something useful.

[AssetBuilder]

[B]You don’t say!!![/B] :o

Come on [B]AssetBuilder[/B]!!

Enough dribble!! :o

Post something useful.

I’m surprised a senior member of this forum can give such a post. Well Tymen, it may be dribble to you, but trading with that mindset is what made me move into profitability. It did take me 3 years and a lot of ‘school fees’ (losses) to learn though. The whole purpose of this thread is to school traders on the inevitability of losses in trading. Obviously you may not find this too exciting because its not new to you, but hopefully some newbie will apply it to their trading. I could make this thread about some system that I trade and it makes me so much, but I believe there are enough good swing trading systems out there. Besides 90% of trading is psychological so I’d rather deal with that. Hope thats useful enough.

[vagus]

I peruse the forums on this website and others hoping to gain more knowledge about trading. Your post was quite refreshing. New to forex trading (from equities previously), I was getting killed following the advice of different people trading a 15 minute chart. Once I decided to trade the 4 hour and daily charts using the same setups and indicators I was able to become consistently profitable. Additionally, I hadn�t previously thought of using the COT report for Forex. Thank you.

[system]

[B]I only trade 4h charts on EY & GY[/B] but you can also look at [B]the cot reports on oil and gold[/B] and you will not be surprised by the way the markets have been moving.

I am very much interested in [B]what[/B] insights you gain by looking at the COT reports on Gold and Crude Oil for your EY & GY trades and the way the markets have been moving.

Also, I very much like to hear your opinion on Bullion Bank positioning in Gold as I assume you read the COT report on Gold on a regular basis and use it as a tool.

Thank you very much in advance.

[Westbank]

@AssetBuilder

Hi guys,
We all know what the COT report is. I use it as a map.It is not the main tool I use, just one of them. The main advantage of the COT to me, is that it builds my confidence. I look at where the non-commercial traders are placing their money(long /short). There is a site that does this well on a graph for each currency pair but I may be breaking the rules here if I mentioned it:confused:
When my technicals give me trade signals in the same direction as the non-commercial traders, I take them. As we all know, institutional traders build positions over time they don’t jump in and out as we do. By doing this I always find myself on the right side of the market. If I get a signal in the opposite side and it seems valid (technically), I will take it but I’ll be more cautious since I may be going against the trend. I only trade 4h charts on EY & GY but you can also look at the cot reports on oil and gold and you will not be surprised by the way the markets have been moving. If you are trading anything less than 4h charts I dont think the cot report will be of much help to you, but as I said before it builds my confidence when I know I’m trading the same direction as bigger traders.

Which COT report do you use?

[system]

Which COT report do you use?

Pardon me to answer your question.

[B]All[/B] COT reports are found here. Those are the [B]only[/B] COT reports there is.

Commitments of Traders

[Westbank]

Pardon me to answer your question.

[B]All[/B] COT reports are found here. Those are the [B]only[/B] COT reports there is.

Commitments of Traders

Thank you, for the link.

I found this link, but there is alot of reports there. Which one of these reports are the most important?

[system]

Which one of these reports are the most important?

It depends on what you trade.

Let’s assume you trade WTI Crude Oil and it’s correlated pairs USDCAD & CADJPY. The important COT report for that scenario is the weekly New York Mercantile Exchange [B]Futures only[/B] COT report.
CFTC Commitments of Traders Long Report - NYME (Futures Only)

If you trade Gold and it’s correlated pairs AUDUSD & EURUSD you would look at the weekly Commodity Exchange Incorporated [B]Futures only[/B] report.
CFTC Commitments of Traders Report - CMX (Futures Only)

If you trade equities and it’s correlated pairs EUR/JPY & GBP/JPY and FOREX currency futures you would look at the weekly Chicago Mercantile Exchange [B]Futures only[/B] COT report.
CFTC Commitments of Traders Long Report - CME (Futures Only)

[tymen1]

…

The whole purpose of this thread is to school traders on the inevitability of losses in trading.
…

Besides 90% of trading is psychological so I’d rather deal with that. Hope thats useful enough.

Mmmmm. :rolleyes:

Given the above 2 statements of yours taken together, I would suggest that the title of the thread would be better stated as…

“[B]All traders will have losses at some time[/B]” rather than its present format which suggests that everyone is a basic loser in life no matter what they do!! :o :o :o

[Pip_Man]

Thanks for your insight on wins Vs losses. Can you please explain to us novice traders what a COT report is and how is it useful. Also where can we obtain this report. Thanks

[Exigent]

Please go through the school of pipsology first…

babypips.com/school

But COT info is here

babypips.com/school/commitment_of_traders_report.html

[Mudar]

In keeping with the ‘loser’ mentality of this thread, here is a formula I use for my trades to manage risk. I’m sure many of you have seen it before, just trying to help out the newbies. If you want to know what your trade size should be:

[B](Equity X Risk%) /(Pip cost X Stop pips)= Lot Size. [/B]

Now, apart from the COT I do have other tools that I use to inform my trades which are very helpful for swing trading. It is basically a sheet that states Short-Term, Medium & Long-term indicators of an instrument.This gives you the overall strength of currencies and which you should be buying or selling. I dont know how to get them to you guys (without breaking the rules of course) any suggestions, moderators?

You know what. some time Trading is like a kind of sport or art. You need some talent and a lot work, and a lot of passion to continu in and find success.
And also, like in sport or art, it is very difficult to define what make champions, to be champions…but something sure, it is very easy to see if someone is not make to do it. Even if you work it a lot…there is something missing.

[GrailJunior]

Just a help for everyone… Read here

Meta COT Project - New Horizons for CFTC Report Analysis in MetaTrader 4

[fxvoilaaa]

Just a help for everyone… Read here

Meta COT Project - New Horizons for CFTC Report Analysis in MetaTrader 4

Read where sorry? Were you supposed to post a link?

[Master_Tang]

Read where sorry? Were you supposed to post a link?

copy + paste + search window = link

[Czar]

copy + paste + search window = link

nice! :D:D:D

[marcus1rex]

lol! some people need to learn how to use google…

[TradeRunner]

You know what. some time Trading is like a kind of sport or art. You need some talent and a lot work, and a lot of passion to continu in and find success.

And also like the “art” of war (read a little Sun Tzu). However, in trading you must be like a traitor. Always jumping to the side that is winning.

As for the COT I think it is best to be “contrary”. For example, when there are near record short bets against a currency it might be getting close to the time to go long. Why? Because all the sellers have already sold and only the buyers are left.

[frandlost]

locations of COT reports are given at the beginning of the thread.

KC

[jessoprules]

If you have a good risk to reward ratio then you can lose more than you win and still grow your account nicely every month.