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Trade Stocks and Commodities with the Insiders: Secrets of the COT Report by Larry Williams

I found Secrets of the COT to be very interesting. Prior to having read this book, my knowledge of the COT (commitment of traders) report was limited to one paragraph explanations in generalized commodities books and websites. This was my first real eye opener into the COT and how it can be used for trading futures in a more effective manner.

The book itself is fairly well written and follows a very intuitive organization. It begins, as it should, by describing what the COT is and giving a little bit of background history into the report. The book also begins by doing the same of the author, Larry Williams. Larry Williams is a guy that won a big futures trading competition many years ago by a huge margin over the other competitors. This percentage increase from starting capital to ending capital over the contest time frame allotment has never been rivaled. He also offers a trading school and alert service.

The book itself was an excellent medium for me to get familiar with what the COT is all about and how to begin understanding it in a functional capacity. There is, however, one caveat. Much of the theory in the book is based on some of Larry's "secret indicators" which you can only access through his private service. So if you are planning on doing any business with Larry Williams, this is a must read. Almost as if it were a textbook of required reading for his trading alert service. However, take that with a grain of salt, because I have never subscribed to his services before nor do I directly know anyone who has.

Generally, I found Secrets of the COT to be very very informative and eye opening. If you are planning on trying to understand and use the COT data available to the public this is a must read, but not an only read. You will still need to read much more to have a comprehensive and functional understanding of the COT.

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