Is Woodie a fraud? YES...?

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Personally I don't think you're one of the vendors and apart from a cheap shot about learning to spell whiners if you're going to get all critical I quite like your post.

I am curious though so I had a quick scan through your earlier posts and you don't seem to be a "Woodies CCI method trader" - not really even close to it. I'm also curious as to why you need software to automatically place your stop and to force you not to add to a position when its in the red.

Seriously BTS, are you saying that you trade Woodie's system the way he teaches it? I mean the way its taught in the chat room. The reason I ask is that everyone I know whose done something useful with the CCI material is well off Woodies core teaching.

I also have no issue personally with you thinking so much good of Woodie but thats not really the question raised in this thread. The real question is how many people are turning their time in the chat room into profitable trading using Woodie's teaching.



Quote from BeTheSparrow:

Yes, I trade the CCI and have consistently made money with it over the past 3 years. There is a lot of talent in Woodies room and a lot more on his website. I don't do trade-alongs... I believe you have to make your own calls and take responsibility every time you pull the trigger. If you can't take responsiblity for your trades (your own or others) you will NEVER make money in this business.

Ken Wood is a great guy and a first class individual. He is honest and generous with his time... to a fault. He is one of the finest people I have met in this business.

You all sound like a bunch of babies. I guess because he won't tolerate winers on his site you all have to come over here to vent. Well... vent away!! In the end... you will be washed out. But hang in there as long as you can... It is your money that supports the successful traders. Thank you for playing!
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Just to clarify my own views on Woodie and his room.

FWIW Woodie never threw me out of his room (a misconception), we disagreed on a bulletin board that I felt he shouldn't control and then I sold my Hotcomm license to the fastest bidder. I didn't see any point hanging around when I disagreed with him about his changing technology policies for running the room :)


- The CCI is just current price minus the 14 period Simple moving average so it provides a reasonable strategy for trend following and for measuring divergence (loss of momentum) although the inclusion of closing price can make it a bit noisy.
- I think that almost no-one is making money following his exact strategy.
- I think hes a nice guy and its a warm supportive room as long as you don't disagree with anything he says or get irritated by his manner.
- I have had a number of people tell me that the problems in Woodies room and the funny directions taken are generated by others not KW ... and this may well be true.
- I think that most people who approach trading will ultimately fail and that they are probably no more or less likely to do so in Woodies room that most others.


I would recommend that those who think they understand Woodies current method become expert paper traders (only your time is lost) before you test yourself with your own money. Testing yourself with money before you have a good solid plan that you are confident about will simply result in donations to those who've moved past this stage.

I wish you all well in whatever approach you take.
 
i think it was disingenuous (sp?) of him to allow anyone who could not demonstrate profitable trading skills to 'lead'.

all that's really being generated in that chatroom is more pigs with a false sense of security/confidence...but then that's how the market works.
 
Quote from kiwi_trader:

Just to clarify my own views on Woodie and his room.

- I think that almost no-one is making money following his exact strategy.
- I think hes a nice guy and its a warm supportive room as long as you don't disagree with anything he says or get irritated by his manner.
- I have had a number of people tell me that the problems in Woodies room and the funny directions taken are generated by others not KW ... and this may well be true.
- I think that most people who approach trading will ultimately fail and that they are probably no more or less likely to do so in Woodies room that most others.

FWIW Woodie never threw me out of his room (a misconception), we disagreed on a bulletin board that I felt he shouldn't control and then I sold my Hotcomm license to the fastest bidder. I didn't see any point hanging around when I disagreed with him about his changing technology policies for running the room

I would recommend that those who think they understand Woodies current method become expert paper traders (only your time is lost) before you test yourself with your own money. Testing yourself with money before you have a good solid plan that you are confident about will simply result in donations to those who've moved past this stage.

I wish you all well in whatever approach you take.
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Kiwi,

I completely agree and its mainly because your experience is very similar to my own personal experience in Woodies chatroom.

Ok...now that's over with...

Can we now discuss the scam of Woodies MACD because I bet only a few traders are profitable using MACD (sarcasm).

Lighten up all...lets have a good trading day and I apologize for my poor attempt to be funny. :D

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
As an EX moderator for woodies room I hope everyone with a serious interest in this subject reads my post.

1. Was I profitable trading in Woodies room?

The answer is simply NO and the reason was because the room itself was too much of a distraction for me (moderating) and too be completely honest I was not trading the set ups the way woodie taught them.

2. Could I have been profitable if I traded the CCI Woodies way?

I don't think so because I could not have confidence in that kind of trading and even if a trade would work for me I would most likely mismanage it and lose even if the trade worked but this is just MY personality others maybe different then me in this regard.

3. Does Woodie himself make money?

I am a pretty good judge of character and I followed Woodies every word when he moderated the room and I have no doubt that woodie is profitable and I would say that there where at least 3-4 others in the room that where also profitable, some using the method exactly as woodie and 2 others using variations and additions.

4. Is the room GOOD or BAD?

I have total respect for Woodies room as an excellent starting point for anyone interested in learning to trade because it has so many Good qualities that you can learn from. My own father a complete novice (retired) spent 4 months in the room and learned a ton of stuff that would have taken him a few years to figure out on his own. So an education is never a bad thing and Woodies room will give you one BUT here is the kicker.

You must go into the room with the correct Attitude and Goal.

Just sit in the room and LEARN, LEARN, LEARN do NOT trade at least not with real $$$$ only paper.

The education you will get for FREE will be well worth the time and effort and you never know you may end up having the right stuff for that style of trading.



BOTTOM LINE

I do use the CCI in my trading today and it is in my opinion an EXCELLENT indicator and it has "Helped" me make some very excellent and profitable trades and that wouldn't have happened if I didn't spend the time in Woodies room so I can HONESTLY say that the time was well spent and did eventually result in profits.

As far as Woodie and the other people in the room go they are ALL top notch good people and I will always respect them and I have no question of their character it is a very positive and friendly place.


Good Trading to you.
 
I've looked at the wcci for a while and finally met Woodie at the esignal talk he gave at the NY Expo.

Woodie seems like a very nice guy, well-intentioned and good natured. I liked him as a person and found him knowledgeable.

His system, in all fairness, is quite complex and requires very real effort to learn, to think about and IMHO, is not for newbie traders or newbie system traders. If you use his indicator as your only indicator, again, IMHO, its a mistake. I use wcci in conjunction to my normal charts which I have used for a very long time. I find the wcci to be a very good complement to other charts which , again, I use as confirmation before entering a trade. I think wcci is actually a very good tool.

I can also see why folks get upset if woodie seems to present himself as making money from trading, if he makes it from training-related items. I think only woodie can answer that and probably needs to, to give some transparency to his efforts.

But, in all intellectual honesty, if you're gonna rag on wcci, you may as well rag on sma, ema etc, and all the other chart tools and training programs out there that dont really seem to produce winning traders. heck, if trading was as easy as simply taking a class, why wouldnt GS just send their folks to these classes instead of the training they give in-house?
 
I was in woodies room during the paltalk days. I think 99% of the traders in his room are losing money. CCI is just another lagging indicator. Probably more so than others. The traders in his room never make live calls. They say " Oh that WAS a nice long on that zero line reject." It's always after the fact. I dare woodie to make live calls in ET's chat room. Hell I dare any CCI trader to trade live in ET's chat room.


I remember when Woodie used to plot only the 14 period CCI on his chart. Then one day he had this other squiggly line on top of his CCI and everyone kept begging woodie to tell them what it was. Woodie told them that he would "reveal" it at the next seminar. Right, fly to the next seminar to find out what the squiggly line is. Turns out people paid $350 + to find out it was the "Turbo CCI".... a 6 period CCI on top of the 14. LOL
 
I am forever utterly amazed at the chronic innumeracy (mathematical illiteracy) of ET. Something as simple as CCI is TESTABLE. You don't have to ASK innumerable innumerists!
 
Quote from kiwi_trader:

Just to clarify my own views on Woodie and his room.

FWIW Woodie never threw me out of his room (a misconception), we disagreed on a bulletin board that I felt he shouldn't control and then I sold my Hotcomm license to the fastest bidder. I didn't see any point hanging around when I disagreed with him about his changing technology policies for running the room :)
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Kiwi-trader

If my memory of my fathers notes serves me right then I believe that you questioned the wisdom of moving from Sierra charts to eSignal.

Then when you wanted to log in to woodiesCCIclub.com to help some others you found out that woodie had revoked your access rights. I also believe that you did set up at least one another account and that woodie again revoked your access.

I admire you that you do call that a disagreement, personally I am not so kind worded.

Peace

Maria
 
Quote from Daxtrader:



Turns out people paid $350 + to find out it was the "Turbo CCI".... a 6 period CCI on top of the 14. LOL
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Are you the same DAX (moderator) that was asked to leave woodies room because you where soliciting the members into sending you money to trade for them?
 
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