read quote first: almost nobody follows the owner's guidelines. Do you see that last sentence in bold red above? There is no better truth than the date/time stamp of ET for your trade entries and exits. No written document from any broker or even god could beat the date/time stamp of ET. It is the ULTIMATE TRUTH. Biggest violator of this are Nine_Ender theMickey and hundreds and hundreds of other ET traders who all post in hindsight ONLY Cockroaches! Q.E.D.
Its freely available on the COT data. Easy to access. The only problem is that it comes out on Friday. that's why you still need TA to time the entry. But the COT is of high value for smart money moves. You don't need to talk to anybody or consult anybody. Just get the data and observe where the Hedge funds and small retail traders are positoned. The COMMERCIAL HEDGERS ar always the opposite. It is the ultimate contrarian data. Go with them and you will almost alway be right if not always
I am a millionaire many times over. Just because I am posting among broke to the bone traders does not alter that fact. IT IS MY CHOICE to post here to do my Internship and gain any nuggets I can. and I give freely a billion times more than I receive. god knows this all too well. He knows my generosity. Besides that, money don't really mean a thing. You can have zillions but just let the spleen or heart act up and that money ain't worth sh*t. You will trade it all in for HEALTH. Money only seems important to traders like you here who DON'T HAVE IT. For fellas like me who do have it, its f***in downright nothing to write home about. Kapiche?
The late Sir John Templeton once said: "To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude." Many investors get caught in popular investment themes. Live example: Overnight constantly bashing and berating me together with other members here about the bear rally vs the new bullmarket. THEY were all rushing to buy, buy, buy like madness madness in a frothy toppy market sensing no danger whatsoever and totally opposite to what Warren Buffet preaches - I did the oppostie .. AND WON
Are you serious? If COT was that informative, we'd all be rich by now. BTW there's no precise way to decipher who the smart money is solely by looking at the COT, other than the "commercial", which is made up of Producer/Merchant/Processor/User and Swap Dealers. They're not exactly what you would call "smart money" IMO.
The extraordinary madness of crowds and their leaders see ET's Overnight & vanzandt & theMickey & Nine_Ender. But Overnight is the KINGPIN. “We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.” View attachment 293639
Most that criticize this aspect are not calibrated to timeframes. Someone who trades as an intraday fast timeframe scalper, it's much less useful than a higher timeframe positional or swing trader.