Showing posts with label trade commodities. Show all posts
Showing posts with label trade commodities. Show all posts

Trade Stocks and Commodities with the Insiders: Secrets of the COT Report (Wiley Trading) Review

Trade Stocks and Commodities with the Insiders: Secrets of the COT Report (Wiley Trading)
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I just finished reading Mr. Williams book. I do not know Larry and I have never taken any of his courses. This is the second book I have read by him and I loved it. It is interesting to read other reviews and how they like it or dislike it. Most of the opinions seem to be based on whether or not Larry's ideas mesh with their own view of the markets. I trade Bond futures short term, they fit my style. This book deals with a longer term horizon than what I am used to, but, I could'nt put the book down. In my estimation its easier to identify short term moves, yet Wall Street and the general investing public's obesssion lies in trying to guess where and when the markets next big move is going to come. As a short term trader, I can use the COT data he points out as a high probability set up to formulate my game plan. I want the best odds possible. Larry does a great job testing data with no assumptions to get real, usable data that could have a significant monetary value to your investments or trading by dispelling alot of commonly held beliefs about technical analysis. I am an avid student of Technical analysis and I think the Studies that Larry has conducted provide the BEST possible roadmap and probable direction of the markets ahead. Its up to the individual to use that information accordingly. Larry's COT indicators provide great setups. So now its time to think. How can you formulate a strategy based on your own game plan to capitalize on this scenario. If your looking for someone to tell you when to buy and when to sell, you're never going make and money in this game. Rmember what Henry Ford said. "Thinking is the hardest work there is, which is probably the reason why so few engage in it."


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The Commitments of Traders Bible: How To Profit from Insider Market Intelligence (Wiley Trading) Review

The Commitments of Traders Bible: How To Profit from Insider Market Intelligence (Wiley Trading)
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I still remember the impact Steve Briese'a ideas had on me when I first encountered them a dozen years ago. There are three groups of futures traders - hedgers (the true insiders!), big speculators (supposed to be smart but not always...), and the rest - small specs. The US government publishes reports about their relative positions. When you see a situation where the bulk of hedgers is squaring off against the bulk of small specs, you have the makings of an explosive move. In whose favor? Who do you think is likely to win - the insiders or the small fry?
This analysis is further complicated by the fact that hedgers tend to be on the short side of the market (you may want to look up my latest book Sell & Sell Short). Briese discovers their true bias by comparing their current position to the historical norm. A beginner may look at the numbers, see that hedgers are 70% bearish and decide that the insiders expect a decline. In fact, if their bearish norm in this market is 90%, then 70% is wildly bullish!
Briese's book covers everything you need to know about COT )Commitments of Traders Reports) - including technical patterns, currencies, metals, oil, and much more. If you trade futures, you sure need this book!
I like Briese's breezy writing style (pardon the pun!) but dislike the arrogant title of the book. I know of only one Bible, and Briese is definitely not its author. This minor quibble aside, I highly recommend his book to every serious futures trader.

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Regardless of your trading methods, and no matter what markets you're involved in, there is a Commitments of Traders (COT) report that you should be reviewing every week. Nobody understands this better than Stephen Briese, an industry-leading expert on COT data. And now, with The Commitments of Traders Bible, Briese reveals how to use the predictive power of COT data—and accurately interpret it—in order to analyze market movements and achieve investment success.

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