The Commitments of Traders Bible: How to Profit from Insider Market Intelligence

by Stephen Briese

Book Overview

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...

• Format: Hardcover
• Language: English
• ISBN: 0470178426
• ISBN13: 9780470178423
• Release Date: April 2008
• Publisher: Wiley
• Length: 320 Pages
• Weight: 1.65 lbs.
• Dimensions: 1.2" x 7.3" x 10.0"

Customer Reviews

Must Have Book For Trader

The Committment of Traders data should be important information for every position trader. Briese is the guy to go to to learn how to interpret this information to help to make trading and investing decisions. I've been trading for over 20 years and am very familiar with the COT data but learned something new from this book and highly recommend it to every trader.

The Truth Below the Surface

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.

Best book on Commitments of Traders analysis

Mr. Briese has done an excellent job of summing up his vast experience with the Commitments of Traders data and presenting it clearly, without compromises. The proper application of COT signals is an edge over the market - many studies show this, including my dissertation work. But I have to warn everybody (like Mr. Briese does several times in his book) who thinks that this is the holy grail of trading. Many times the trader is faced with situations that are far from straightforward, so proper interpretation of COT data demands experience. The experience this book contains is of a man who analyzed these data from the beginnings and have personally lived through and traded the bull and bear markets of the past 35 years. Like your library (independent of your religion) contains a copy of the Holy Bible, the trading books shelf (independent of your trading style) cannot be complete without the Commitments of Traders Bible.