Drone, maybe have a look at this ’ Secrets of the COT Report’
Trade Forex Like The Pros - Secrets To The COT Report - YouTube
I have watched Secrets of the COT Report, this is how I have the understanding of commercial net short = higher in price and net long = lower. What is confusing to me is the commercial net short position in the British Pound during May and June 2012 while price is declining. I’m assuming that open interest rising plays a role in this in that they are adding to there shorts. Now, the Yen’s open interest is rising while price is declining (Adding to there shorts) but commercials are net long.
Can you explain why this is?
thanks
Drone, I hate the Yen - all this BOJ intervention etc - I refuse to trade it, in my business it gets the blame for price increases, price decreases.
As you know with COTs it is the extremes that count - will post tomorrow.
You know AK, I used to be the biggest believer in supply/demand
Every fibre of my business life - from 40 yrs ago - was taught - price hinges on one thing - supply/demand.
When i first encountered the word ‘engineering’ from an experienced cme floor trader I thought - Hmm - He used to say that the orders would be stacked on one of those wooden bases with a wire pin - news would come through the wires (before computers as we know them) - price would move and all those orders would be sitting there - and then as he would watch - price would magically return, his job was to match the orders - he would lift off the orders - all was well.
The orders got filled, zero sum game, who lost? - yep us.
Btw - if any of you doubt that ‘manipulation’ exists - check out:
The other funny thing about this price behaviour - there was’nt a name for it - there was talk of ‘it coming back for you’ or ‘old man getting out of bath’ (sounds like me :)) or ‘between the certain colours’ or etc, etc.
No definition - no specifics, exactly where would price come back to - apparently you had to pay to be told that specific ‘secret’ - man I hated that word ‘secret’, that meant get your credit card out.
Now I’m looking to see what thread I’m in - it’s ok - see where I am.
1/0.705 = 1.4184
Thanks so much!
New CFTC Data is out. In addition to looking at the main CFTC data, I’m looking at Scotia FX’s analysis for further clues into what the institutions are up to.
The full PDF of their analysis is attached below.
IMM(3).pdf (1.77 MB)
Thank you very much! That helps! Happy Xmas and new year to all!
Finally got around to watching this earlier today.
Glad to say I learnt a little more insight to help with my trading. Going to try turning off the MS indicator next year to help in spotting these ITL/H and LTL/H in real time.
If only the day job was his interesting and made me put in additional weekend hours.
Thanks Michael for the upload.
Tommy, funny you should mention day job.
As I go through the videos making the catalogue I often give them a sub title to help me remember the thrust.
Yesterday I went through the ’ Short term trading module’ - in my notes I marked:
‘Directional Bias - daily, how to develop bias if you have a day job’
Hey peterma, thanks for the heads up and I can’t wait for the completed catalogue, wish I was as organised as you. I do plan on revisiting the older video’s again a few more times to sharpen my skills for 2013, which I’m hoping to be a good one!
Enjoy your weekend.
Hi Folks, still waiting for the answer to this question,
Cheers!
Look forward to the completed catalogue. Thanks a lot for your contribution too Peterma.
I downloaded an ICT Torrent a while back but can’t access it - what do I need to open it?
I tried a “torrent viewer” but that did nothing.
Download the torrent using an application like Miro. It is free to download and fairly easy to use.
Thanks PureMuscle
Hi MayZerG,
Not sure if you are still interested but I’ve just tried downloading the attached using Miro software as suggested by PureMuscle. It is working but it is painfully slow although that might be my connection.
ICT.zip (27.2 KB)
hi guys,
a random question:
is there a way (indicator) to plot a custom OHLC bars, ideally in MT4?
My idea is to eliminate the ‘‘noise’’ as much as possible by 1) merging Sundays with Mondays candles (for Daily charts) and 2) eliminating (or merging) inside bars. I’m sure by doing this, the ‘‘picture’’ (especially in regards to Market Structure) will be much clearer. For example You’ll get much less swing Highs and Lows, but they will be more ‘‘real’’, also the indicators (pivots, oscillators, etc.) will show more accurate readings, etc.
And I’m not talking about so called ‘‘range bars’’ here, I’m familiar with that concept, but wont work with the ICT methods.
It is possible to manipulate the data (I had a play with it) in the MT4 history center, but it seams a lot of work and I’m not sure if it’ll be there after platform update, etc. Plus I’d like to have the original feed data to compare to. Ideally, I would export the Fiber historical data (example), adjust it and then import it under different name/symbol. Cant seam to figure how to do that last bit.
Any suggestions/ideas welcome.
Cheers