Lol… Nice.
I may add another reading material for you. I subscribe to this thread a long time ago but I fell sleep I couldn’t keep up!
Here take a look maybe he can help Bob out.
http://forums.babypips.com/forextown/48484-follow-smart-money-cot-analysis.html
“Follow the Smart Money” - Sounds like a famous phrase from the person who shall not be named :60:
Yea, that’s the thing… Who is this smart person came up with that name of " smart money" I don’t really think money smart at all…Lol is that a joke? Why not call it just “follow the money”… No clue…
Maybe his twin… Don’t know
Thanks, Pip. I followed along with that thread for awhile as well but it never seemed to go anywhere. It more or less just kept spinning in circles (or so it seemed to me) and wasn’t really providing me any kind of insight I could use to further my trading strategies.
Bob was alluding to, and I am sure he will correct me if I am mistaken, more of a probability-driven event using the COT. The percentage he calculated from the COT data was, for example, X% long, therefore the likelihood of the following week closing up was also X% (or near-abouts). At least that is what I was taking away from it.
If so, it is a unique spin on something and I am quite fond of unique spins – if they amount to anything, of course.
Now, now… be nice to Petefader! He is THE smart money follower of BP. And a damn good one from everything he has posted – in advance, more often than not. Oh, you meant the other guy… :15:
I wasn’t sure who for a sec. My first thought was Gavin Holmes.
PipNRoll, ah forget it lol.
Wow didnt think so much talk.
First off to pete I reread your comment and yeah I did take that the wrong way sorry man.
Someone asked me to either link to my original thread or better explain it. I hope baby pips reads this to help find it as I could not (not good at searching though maybe someone could help there). Also I came back to this just going over really good trades in my journal and it kept popping up back then on reasons for taking the trade. I can tell you I did not log what I was looking at and how I exactly crunched these numbers. It is on my old thread but pretty sure only I can understand my wording as that thread meant nothing to no one but me. Thats why it died as many of my threads have as nobody cared. Again I did not log how I crunched these figures but give me till tomorrow when the market closes. The numbers I crunched 1 out of 3 are right in line (not so good) but like I said I seen many times friday would make the difference to make these numbers correct. But thats yet to be seen.
Just like Petefader (not calling you out) uses volume that is said has no place in spot forex but yet I have seen that guy do some amazing things with it. Thats all I am trying to do is get back to where I was. I kept some amazing logs on microsoft one note (if you dont have it get it for journaling). But there are some things I thought I would have forever and never logged the fine details. I can say I seen something then I dont now. Thats what I am trying to find.
Also for the comment that the COT is based off 20 traders I dont think that is true. About as true as no one trader can move the spot market. Yet (even though I dont like the guy) Soros didnt do it just once but twice (GBP and now the AUD) and made it public. Well if one guy can do that where does he keep his money? Hmmm a bank I would assume. Tells me there is a lot more than 20 traders on the COT report or volume bars. Sure you cant trade the COT based off a 15 minute chart (or any for that matter) but a can be useful. Not in ICT terms there are way to many charts out there just like any indicator. Its all lagging. But there is something I seen I dont see now. ICT and information overload? Yeah for sure. How do I go back to where I made a killing? I dont know hoping to find out. I did before so the info is in me I just got to find it.
Tired of typing but hope someone can find the old thread so I can see what I posted on it. I know it there (I posted it) I seen something and there has to be a reason I mentioned so much in my journals. Has to be. I just must be missing some key piece to fit it all together. I got to wipe ICT from the memory banks. I find it funny since I followed him (even my journals show it) my profits have fallen. I have never BS’ed on here. For those that think I am full of it read my posts (as I have my journal) since I followed him my profits have fallen. I just want to get back to me and what I did.
Sorry this didnt go as I expected but its my thoughts on this night and what I have tried to accomplish.
Bob - not sure if this is what you are looking for - it’s a good post anyway, I’ve book marked to try and digest.
http://forums.babypips.com/newbie-island/41349-cot-report-questions.html