Commitment of Traders (COT) Report is compiled and released by the Commodity Futures Trading Commission (CFTC) and released every Friday at 15:30 EST. COT Report records the open interest information about the futures market based on the previous Tuesday. It is considered to be a very important report for the futures traders. However, it has got useful applications for forex traders. COT Report is an underrated tool that can be used by forex traders to improve their trading performance.
Anyone can access the COT Report FREE on the CFTC website. There are basically two two types of reports that are made available: 1) Futures Only COT Report and 2) Futures and Options Combined COT Report. Now as a forex trader, you will be knowing that the forex futures market closely follows the spot forex market rather both follow each other. COT Report can be used as a FREE sentiment tool by the forex traders.
Since the currency futures market and the spot forex market are interlinked and keep on influencing each other. By taking a look at the net open position taken in the currency futures market, you can prepare yourself for a possible trend reversal. COT Report is a little treasure trove that often gets ignored because of the raw organization of the data. You can transfer the data from the COT Report on a spreadsheet and conduct further analysis in a more suitable format. COT Report reports the open interest positions for each futures contract in the market in three main categories:
1) Commerical: This group comprises those importers and exporters who take positions in the futures market for hedging purposes.
2) Non Commerical: These groups comprises the hedge funds, big banks and others who are in the futures market for speculation and capital gain.
3) Non-Reportable; These are small players in the futures market like the retail traders and day traders.
If you are a futures trader, COT Report data is indispensible for your trading. Watch this Commitment of Traders Live (Recorded) Webinar by Lan Turner. This Commitment of Traders Live (Recorded) Webinar by Mr. Turner shows you how to use the COT Report Data in your futures and forex trading. In case you decide to buy a year of Commitment of Traders data after watching the webinar, you get the Commitment of Traders Plug-in FREE.
As the CEO of Gecko Software, Inc., Mr. Turner is the chief design architect of the line of Track ‘n Trade LIVE trading platforms, and charting software applications. Mr. Turner has been working in the financial industry for over 18 years, and has taught his Stocks, Futures & Forex trading ideas and concepts to clients, professional traders, and brokers from around the world. Mr. Turner is the Editor in Chief of PitNews Magazine; he’s an accomplished author, publisher, and public speaker, having taught live trading seminars across the US, as well as internationally!