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Free COT & CME flow course

Learn to read the CFTC Commitments of Traders report and the CME daily flow in 8 short lessons, in a sensible order. Each lesson links to a free article and to the place in ICC Terminal where you see it with live data. Free, no account, at your own pace.

0 of 8 lessons done
  1. 1

    What the COT report is and who the three groups are

    • What the CFTC publishes every Friday and why it shows Tuesday's positions
    • Large speculators ("smart money"), commercials (hedgers) and small traders
    • Why the three groups usually sit on opposite sides
    Read: How to read the COT reportSmart money vs hedgers
    COT رپورٹ (اردو)COT रिपोर्ट (हिंदी)
    See this week's report →
  2. 2

    Net position and the weekly change

    • Net = long contracts minus short contracts
    • Adding to a position versus cutting it
    • Why one week means little and the trend over several weeks matters
    Read: Reading the columnsHow to use both groups
    See the net and change columns →
  3. 3

    The COT index: where the position sits in its range

    • How the index turns a raw net number into 0-100%
    • Why we use a 13-week window
    • Reading extremes without treating them as a timing signal
    Read: The COT index explained
    See the COT index column →
  4. 4

    Open interest: rising and falling OI

    • What open interest counts, and how it differs from volume
    • The four price and OI combinations
    • Why rising OI behind a move says more than falling OI
    Read: Open interest + price action
    OI + Price Action in the guide →
  5. 5

    CME daily flow and the 5-day bias

    • The CME daily volume and open interest report
    • Preliminary versus final numbers, front month versus all contracts
    • The idea behind a 5-day bias (the live bias is part of VIP)
    Read: CME daily volume and open interestThe 5-day bias
    CME flow and 5-day bias in the guide →
  6. 6

    Reading the gold COT report step by step

    • Why XAUUSD traders follow COMEX gold futures
    • Reading the funds' net position and the gold COT index
    • Checking the weekly picture against the daily CME flow
    Read: Gold COT report
    سونے کی COT رپورٹ (اردو)PMEX gold COT (اردو)Gold COT रिपोर्ट (हिंदी)
    See gold in this week's report →
  7. 7

    Forex COT: currency futures and the dollar

    • How currency futures are quoted against the US dollar
    • Why yen, franc and Canadian dollar futures move opposite to USDJPY, USDCHF and USDCAD
    • Building a simple dollar picture from the majors
    Read: Forex COT reportEuro (EURUSD) COT report
    See the currencies this week →
  8. 8

    Common mistakes and a weekly routine

    • Reading COT as an entry signal (it is a weekly, delayed picture)
    • Ignoring open interest and the daily flow
    • A short routine: Friday report, weekly picture, daily check
    Read: Common mistakesCOT index pitfallsA simple routine (guide)
    Open the web terminal →

Put it to work

Open the web terminal to see the full COT table for 42 markets with charts and the monthly report. VIP adds the CME daily flow, the 5-day bias and copy trading; every plan is one payment with a full refund within 7 days.

Open the web terminalSee plans

About the course

Is this COT course really free?

Yes. Every lesson and article is free to read, with no account and no payment. You go at your own pace.

How long does it take?

Each lesson links to one or two short articles of about 5 to 10 minutes, so the whole course takes roughly an hour or two.

Do I need ICC Terminal to follow it?

No. The articles stand on their own, and the weekly COT table for 15 main markets is free on the COT report this week page. The app and web terminal add all 42 markets, charts and the CME daily flow.

Are there Urdu and Hindi lessons?

Some lessons have Urdu and Hindi articles; they are linked under the English article in the lesson.

Is the COT report a buy or sell signal?

No. It is a weekly positioning report published with a delay. It helps you understand who holds what, not when to enter a trade.

Will this course make me profitable?

No course can promise that. Trading with leverage carries a high risk of losing money; this course is education, not advice.

Positioning data and these lessons are education, not investment advice. They show what large traders held, not where prices will go. Trading with leverage carries a high risk of losing money.