About me & COT-Reports.com

My Trading Journey: How I Got Started

My journey in trading began in the summer of 2017 when I was first introduced to the world of cryptocurrencies. Starting in a bull market gave me the opportunity to become profitable quicker than I had anticipated. Two years later, I discovered the world of Forex trading. I still remember the first time I opened the MT4 platform on December 1, 2019. My first year was a bit of a rollercoaster ride, I’m sure many of you can relate. But let me tell you what I have done later.

Discovering that Trading is a Game of Probability

Throughout my time trading, I’ve had the opportunity to read a lot of books on the subject, with a particular focus on trading psychology. Specifically, here are two of my book recommendations: To begin with, “Trading in the Zone” by Mark Douglas. The second one is “Trading for a Living” by Dr. Alexander Elder. Both of these books have significantly changed my perspective on how I should approach trading.

As I worked on improving my mindset and understanding that trading is simply a game of probability, I realized that predicting the market is impossible, but by approaching it with a probability-based mindset, the odds will eventually work in your favor. In addition to strategy, risk management, including setting daily and weekly limits, is crucial to success. If you’re interested in learning more about my approach to profitability in trading, you can check out my article here.

Creating my own Trading Journal with Complete Statistics

On my road for improvement, I realized something was missing from my plan. That’s when I set out to create the Trading Journal with Complete Statistics. It’s an .XLSM file created using Microsoft Office – Excel. I spent months developing and refining the journal, making adjustments each week until I found the perfect version. Now, everything is automated – all I have to do is fill in a few columns and the journal takes care of the rest. Keeping track of my trading activity has been a game-changer for me. It allowed me to see what was working and what wasn’t, compare different strategies, and ultimately, become more consistent in my approach.

Starting the COT-Reports.com in 2020

In addition to my trading, I also became interested in the Commitments of Traders (COT) Reports. I found a source on internet that offered access to his version of the reports for a significant fee. As someone who was doing swing trading at the time, I found the reports incredibly valuable.

My wife is skilled with Microsoft Excel, so I asked her to help me create my own version of COT reports. I began to wonder if there were other traders out there who could benefit from the reports as much as I had.

So, I decided to start sharing my version of the COT Reports every Friday after the CFTC releases the COT data. You can receive the reports for free on the Telegram channel COT Reports. In the last years I offered everything for free, including a PDF that teaches retail traders how to read the COT report. It was a simple one and I didn’t explain everything there. As I received a lot of questions about the reports, I also wrote a complete guide on how to read the reports, which you can now download as a PDF file (A Complete Guide on How to Read the COT Reports). I do ask for a small fee for the guide as I plan to use the money to develop more trading tools along with more free educational content.

Creating the second channel COT Signals FX

COT Signals FX is a Telegram channel I created to share my trading ideas and what it means to be a profitable trader. Early on in my journey, I looked out for successful traders to understand the differences between my approach and theirs. To my surprise, I found that technically, there were no significant differences. However, I quickly realized that trading is unique to each individual due to our distinct ways of thinking, much like how chess players interpret and use the same information differently.

The key to profitability in trading is discipline and risk management. By sticking to a risk management plan, one can be successful even with average technical analysis skills. I wanted to demonstrate this, so I created the Telegram channel COT Signals FX. In 2022, I traded there daily for 7 months, achieving a 93% profit using classic Technical Analysis techniques. I shared over 700 trades during this period. The entire trading history is still available there for anyone to review. I will continue to share my trading ideas, so if you want to see live updates you can join the channel. I have a lot to say, but for now, I will keep it short and plan to go into more detail in a future article.

Check out my Trading Tools and achieve profitability

Thank you for taking the time to read my story. I hope it has inspired you in some way. I truly believe that you’ll find my trading resources to be incredibly helpful. Take a look and see for yourself.