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Market Sentiment 市场情绪: Page 2 of 9

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Commitment of Traders Report

The COT Report: What, Where, When, Why, and How

The Commodity Futures Trading Commission, or CFTC, publishes the Commitment of Traders report (COT) every Friday, around 2:30 pm EST.

Because the COT measures the net long and short positions taken by speculative traders and commercial traders, it is a great resource to gauge how heavily these market players are positioned in the market.

 

Forex Players in the Commitments of Traders Report
Later on, we’ll let you meet these market players. These are the hedgers, large speculators, and retail traders. Just like players in a team sport, each group has its unique characteristics and roles. By watching the behavior of these players, you’ll be able to foresee incoming changes in market sentiment.

 

You’re probably asking yourself, “Why the heck do I need to use data from the FX futures market?”

“Doesn’t the spot forex market have a report that measures how currency traders are positioned?”

“I’m a spot forex trader! Activity in the futures market doesn’t involve me.”

Remember, since spot forex is traded over-the-counter (OTC), transactions do not pass through a centralized exchange like the Chicago Mercantile Exchange.

So what’s the closest thing we can get our hands on to see the state of the market and how the big players are moving their money?

Yep, you got it…

The Commitment of Traders report from the futures market.

Before going into using the Commitment of Traders report in your trading strategy, you have to first know WHERE to go to get the COT report and HOW to read it.

持仓报告

商品期货交易委员会(CFTC)会在美国东部时间每周五的下午2:30左右公布交易商持仓报告(COT)。

由于CFTC持仓报告显示了投机交易者和商业交易者所持有的净多头和净空头情况,所以该持仓报告是测量市场参与者在市场上的所持有头寸状况的重要来源。

随后,我们将介绍你认识这些市场参与者。它们是对冲基金、大的机构投机者、零售外汇投资者等。就像一个球队的队员一样,每一名队员都有他特有的特征和作用。通过对这些队员行为的观察,你将能够提前预判到市场情绪可能出现的转变。

你很可能问自己,“我为什么应该使用来自外汇期货市场上的数据?”

“难道现货外汇市场没有测量货币交易者头寸状况的报告吗?”

“我是一名现货外汇交易者!期货市场和我没有任何关系。”

记住,由于现货外汇市场是场外交易(OTC),交易并不通过某一集合交易场所,比如说芝加哥期货交易所。

那么,我们了解市场状况以及大型机构投资者资金移动状况的最接近的途径是什么呢?

你可能已经猜到了。

就是来自期货市场的交易者持仓报告。

在你使用持仓报告指导你的交易之前,你首先应该知道在哪里获得COT报告,以及如何解读这份报告。