Forex Trader Sentiment Analysis COT; Best Guide 2023

Learn Advanced Forex Trader Sentiment Analysis

Follow the trend. The trend is your friend. This is the most important thing every trader must remember. Institutional traders make the market. Forex Trader Sentiment analysis trading is the most important thing for small retail traders. As small traders, we all need to follow the big players. By analyzing the Sentiment, we can monitor where is going the institutional traders.

Monitoring the institutional traders is the most important forex trading fact of trader sentiment analysis. Small Forex Traders can use the “Commitment of Traders report” to analyze the big players.

in this post, you can Learn advanced Forex trader Sentiment analysis facts and techniques of Forex. Read our fundamental guide to understand the bigger picture first. then you should do the COT data report analysis to know who plays the market in the current situation.

Many forex traders and mentors say it is not important cot analysis for scalpers. But, if you can go with COT data for scalping, you can get amazing results. If you are a COT analyzing trader, you must learn how to read cot report forex.

  • What is the Trader Sentiment of Forex?
  • Why Trader Sentiment Analysis is important?
  • Does Sentiment Analysis work for Scalper or day Trader?
  • Does IG client Sentiment work?
  • FXSSI site works for Forex Trading?
  • The commitment of traders report.
  • How do I get the cot report on Forex?
  • How to do sentiment Analysis?
  • Equation of calculating the COT report.
  • What is The easiest way to analyze the Sentiment?
  • Trader Sentiment Analysis Example

Why Trader Sentiment Analysis is important?

 Many small traders gain profit doing managing the fund and risk too. Retail forex traders do not have a big capital in their trading accounts. Even retail traders did the fundamental analysis. They cannot understand whether the big players did trade or not. So this is the most important thing that you don’t want to miss while trading.

The main thing that small traders should focus on. where is the smart money goes? After watching the piece movement of last week, Forex Trader Sentiment analysis tells you,

  • Who trades on that period
  • Where they went {Up or Down}
  • How many trades have they been open or closed
  • where are going those traders do help to make the trend. 

These all are old information. But, this method truly helps Small traders to get an idea about the next move of the market price.

Every time we do advise our clients, the Fundamental Is not perfect, and the Trader sentiment is not perfect. Also Technical is not perfect too. We must make our strategy using all these three methods.

Does Forex Trader Sentiment Analysis work for Scalper or day Trader?

Does Sentiment Analysis work for Scalper or day Trader?

 Many people things the trader sentiment is not working for short-term traders. But the truth is that sentiment analysis is important for any type of trader. Even Scalpers s or day traders can get benefits from Sentiment analysis.

We do always the trader sentiment analysis even if we missed the analysis of the Fundamentals of Forex

Does IG client Sentiment work as in COT Report Forex?

Does IG client Sentiment work?

  It is true that IG is a big forex trading company. but our simplest answer is no. Because they only show the trader positions who trade as IG clients.  

FXSSI Forex Trader Sentiment Analysis site works for Forex Trading?

FXSSI site works for Forex Trading?

The Fxssi provides the detail of a few brokers in their platform. They do not provide actual forex cot reports. Even IG does not show the big player’s movement under their platform.  

What is the Best Forex Sentiment Analysis Tool?

We had tested many trader sentiment tools for a few years. We tried many indicators, and websites, as losing traders at that time. After then we understood there are not many big deals here. finally, we found the Commitment of traders report a good and Best in one Forex Trader sentiment analysis tool.

You can find it directly on google by typing just CFTC. The CFTC provides transparent forex cot data clearly.

Forex sentiment indicator mt4.

After finding the Commitment of Traders report, we had to find the Forex Trader Sentiment indicator for the mt4 trading platform. Because at that time MT4 is the most popular forex trading platform in the world.

We just could find a bunch of currency strength meter indicators only. Then we decided to choose a good currency strength indicator as our trade sentiment indicator that can easily understand which currency is the best to trade on next week.

Forex Sentiment Indicator Free Download for MT4

If you are Googling about “Forex Trader sentiment indicator free download for mt4” you cannot find any good indicator. We suggest you do this complete process manually. It does not take more than 15 minutes a week. Read down more. you have much important information here.

What is the commitment of traders’ reports?

What is the commitment of traders report?

The big players do move market prices with bigger sizes. Using the Commitment of Traders report “COT”, we can identify how many trades were opened and closed by which trader during the given period.

The commitment of traders report is provided by the Commodity Futures Trading Commission “CFTC” site. Many traders do trade Forex. The commitment of traders breakdowns three different categories.

  • Non-Commercial
  • Commercial
  • Small Speculators

Non-commercial traders are the big players. Our main target is these traders. Commercial traders are headers and other large companies. Small speculators are small and reportable traders. We do not watch these guys at all times.

How to get the cot report historical data to trade Forex?

How do I get the cot report to trade Forex?

The main place you can get the COT data is the CFTC. Some websites do take details from the CFTC, and they do manage that data to use easily by everyone.

You can get those details by paying or without paying on the internet. Some popular sites provide the cot report free of charge to trade forex as a retail trader.  


COT report Chart.

You can get a COT report chart from many sites. Even if you are an experienced trader, you can identify easily on your trading platform too. Yes, If you monitor the candlesticks of the Weekly Time Frame on your technical price chart, you can get an idea about the next move of your currency pair.

Where is the best place to get the COT report for free?

The CFTC is the main partner for this service. We mentioned some websites where you can get information about the COT report. Here is where we do get the information personally for our trades. You can get detailed and complete reports from and

COT data on YouTube.


We have seen the Best two youtube channels in which you can get Forex Trading forecasts, reviews, and analyses. Transparent FX and EivindFX Forex Mentors are the most popular for small retail traders.

We recommend using cot transparent fx is best for swing and position traders. Mainly, the transparent fx cot data collect from the Myfxbook site. We tested the commitment of traders transparent fx a few months. They have some overall good results. The transparent fx commitment of traders does try to find swing points from a 4h time frame.

If you are a swing trader and you need to use cot in forex then we definitely suggest you get service from the transparent fx if you do not like to get our services.

How to read the commitment of traders’ reports?

How to do sentiment Analysis?

   We mentioned above The Commitment of Traders reports breakdowns three different main categories.

  • Non Commercial
  • Commercial
  • Small Speculators. {non-reportable positions}

Non-Commercial Traders.

The non-commercial traders do drive the longer-term trend. These are the big banks and institutions.  

Commercial Traders.

These traders are hedgers. And other Business holders. Some big import and export breakdowns from this category.   

Non-reportable positions.

Here are the small speculators who can beat the market. But not as the big institutions. 

You have

If the Non-commercial traders were strong, then we are going with that currency. If Commercial trades play that market, We do take only short-time trades. We do not take care of the small speculator positions.

Equation of calculating the COT report in forex.

Equation of calculating the COT report.

  Non-commercial traders increase the Long positions and close the short position. Commercial traders decreasing the long position and increasing the short position indicates that the currency is strong.

In this case, the main trend is bullish.

Non-commercial traders decrease the Long positions and increase the short position. Commercial traders increasing the long position and decreasing the short position indicates that currency is weak.

In this case, the main trend is Bearish.

But, remember, Always Buy at low. And sell at high. This is why technical analysis is important as the market sentiment and fundamentals to trade currencies online. 

What is The easiest way for Cot report analysis?

We do offer you the to learn COT report analysis from different sites. Go to the Myfxbook COT report. you can get it here by surfing this link. 

The easiest way to analyze the Sentiment

COT report Spreadsheet.

Click the latest date. In this case, I had an open report that was released on 4th of the May. Choose any Currency from that report. Then you can find this COT report Spreadsheet with more details. 

COT data myfxbook

If you monitor this report closer, you can see a trend in this report. when commercial traders opened long positions, then non-commercial traders do closing their positions. You can get compared details with the percentages on the site.

tradingster cot report review

By getting the information using my fx book you can identify the range of trends. Then from the Tradingster website, you can get compared the report with the percentage of all opened and closed positions.

This is the easiest and best way to identify the trend using the COT report to trade Forex.

COT Trading Strategy | Forex Trader Sentiment Analysis Example.

Forex Trader Sentiment Analysis Example

Here is the Commitment of traders’ report of Canadian Dollar currency. Try to understand the trend of the open interest and increase the trades from Non-commercial traders.

Tradingster COT data

 Also, Commercial traders do close their long positions and opened the short ones. which means the Canadian Dollar currency is strong at this stage.

Cad COT prediction

It is simple, Right? Let me know what you need to know. The comment section is always open for you. We think you learned many things about the commitment of traders’ forex. If you need to contact me, then use the contact us page then send me a message. Share this post on your wall then you can see this post later on.

The forex trader sentiment analysis post is over now.

Jump to the Technical Analysis post to learn the next step.

Have a nice day.

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