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Trader Talk Tackles COT, Currencies and Key Numbers!

Site Administrator | September 22, 2011

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We had three outstanding guests today on TraderTalk with Floyd Upperman of Upperman.com, Jack Crooks of blackswantrading.com and Chuck Crow of DTITrader.com.  We had an issue with the recording that only caught the first 4-5 minutes for some reason but we have a detailed wrap up from the presentation listed below.  We offer our sincerest apologies for not being able to provide the recording to you.

After sharing how each of the three traders got started in the market, they began to share the different types of indicators they used when trading.  Floyd focuses on the COT (Commitment of Traders Report) published by the government as a way to determine whether or not large speculators are buying or selling.  In addition to this he monitors open interest carefully and looks for insights to determine tops and bottoms.  Once an overall direction is discovered based on the COT report he looks at technical indicators to determine his entry.  Jack uses technical and also looks at the overall macro environment.  A proponent of Elliott Wave, Jack has seen some selling opportunities in both the Euro Currency and the Australian Dollar.  Chuck focuses on an approach of watching several different markets for strength and weakness with a focus on key number levels.  He considers things such as the Yearly, Monthly, Weekly and Daily Open to build his key number ladder as well as numbers that the market bounces off of throughout the trading day.  Typically Chuck looks for buying opportunities once the market breaks through a resistance point or selling opportunities when the market breaks below a support area.

We also asked the attendees to share some of their thoughts on the market and here are a few things they were seeing:

  • Take time to find a consistent trading method and understand what risk really is. (No matter if it takes you 10 years!)
  • Look at the times, key numbers, and indicator systems to find trades in the market.
  • COT reports are government reports that break down open interest in the Futures Market.
  • Right now, currencies are providing a great trading opportunity.  Take a close look at the Euro and the Australian Dollar.
  • Key numbers are still important during volatility.
  • A long term trade idea to look at now would be a beat down, blue chip stock.  (Something that will always be around, think GE or the like).
  • Gold seems to be its own market right now, while the bubble might eventually burst, it could be six months or six years.
  • Based on COT data Floyd was seeing a top in bonds but said we are not there yet.
  • Jack feels there will be really good selling opportunities with the Euro (target of par) and the Australian Dollar which he feels will suffer from a hard landing in China in the near future.

All in all it was a great event and we greatly appreciate Floyd, Jack and Chuck taking time out of their trading day to share with our patrons!

Be sure to join us for our next event by clicking the following link:  TradingPub learns Auction Market Theory.

Cheers,

The TradingPub
"Trade, Talk, Learn- Cheers to Success"

Disclaimer: Article intended for traders and not English majors. Disregard any misplaced commas.

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 We had three outstanding guests today on TraderTalk with Floyd Upperman of Upperman.com, Jack Crooks of blackswantrading.com and Chuck Crow of DTITrader.com.  We had an issue with the recording that only caught the first 4-5 minutes for some reason but we have a detailed wrap up from the presentation listed below.  We offer our sincerest apologies for not being able to provide the recording to you.

After sharing how each of the three traders got started in the market, they began to share the different types of indicators they used when trading.  Floyd focuses on the COT (Commitment of Traders Report) published by the government as a way to determine whether or not large speculators are buying or selling.  In addition to this he monitors open interest carefully and looks for insights to determine tops and bottoms.  Once an overall direction is discovered based on the COT report he looks at technical indicators to determine his entry.  Jack uses technical and also looks at the overall macro environment.  A proponent of Elliott Wave, Jack has seen some selling opportunities in both the Euro Currency and the Australian Dollar.  Chuck focuses on an approach of watching several different markets for strength and weakness with a focus on key number levels.  He considers things such as the Yearly, Monthly, Weekly and Daily Open to build his key number ladder as well as numbers that the market bounces off of throughout the trading day.  Typically Chuck looks for buying opportunities once the market breaks through a resistance point or selling opportunities when the market breaks below a support area.

We also asked the attendees to share some of their thoughts on the market and here are a few things they were seeing:

  • Take time to find a consistent trading method and understand what risk really is. (No matter if it takes you 10 years!)
  • Look at the times, key numbers, and indicator systems to find trades in the market.
  • COT reports are government reports that break down open interest in the Futures Market.
  • Right now, currencies are providing a great trading opportunity.  Take a close look at the Euro and the Australian Dollar.
  • Key numbers are still important during volatility.
  • A long term trade idea to look at now would be a beat down, blue chip stock.  (Something that will always be around, think GE or the like).
  • Gold seems to be its own market right now, while the bubble might eventually burst, it could be six months or six years.
  • Based on COT data Floyd was seeing a top in bonds but said we are not there yet.
  • Jack feels there will be really good selling opportunities with the Euro (target of par) and the Australian Dollar which he feels will suffer from a hard landing in China in the near future.

All in all it was a great event and we greatly appreciate Floyd, Jack and Chuck taking time out of their trading day to share with our patrons!

Be sure to join us for our next event by clicking the following link:  TradingPub learns Auction Market Theory.

Cheers,

The TradingPub
"Trade, Talk, Learn- Cheers to Success"

Disclaimer: Article intended for traders and not English majors. Disregard any misplaced commas.

Tweet