Monday, February 26, 2007

Question about the COT Report for Forex Traders? -

This is more of a survey than anything, but for forex traders, how useful is the Commitment of Traders report released by the CFTC? I heard that it is used to measure and gauge volumes on forex futures contracts. Is this true? On a scale of 1-10, how useful is the COT to you? I m going to select the best answer on five days from today. Not real useful to me at this point but I haven t really traded it extensively. It is supposed to work just like any other futures contract that is tracked on that report, go with the big boys when there is major divergence. That is, when the big boys are long and the small players and specs are short, that is the time to go long. I am subscribed to a COT service but right now, about a 2 on the usefulness scale. COT online charts: http://www.treideri.lv/cot_charts.php

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