Trading Woodie's CCI ;-)

Quote from tampa:



And I heard that he takes bubble baths...
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My wife takes bubble baths. But she is female. You don't think Woodie's a... nah... couldn't be... :eek:
 
Quote from Remiraz:

I took a 3 mths break from trading to do some time wasting activities and thus has forgotten why I stopped using Woodie's CCI.

Recently I papertraded it for fun for abt 2 hours using on EuroFX just to remind myself.
Attached below are the false signals I get during my little adventure.

This exercise was meant to serve only two purposes:

1) Hightlight that Woodie's CCI signals are like any other indicators (MACD, MA Cross etc) and are prone to false signals.

2) To allow veteran CCI traders a chance to explain how a trader could still trade Woodie's CCI.
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I don't know what timeframe is in your charts but if you look closer on the ZLR you can see that the price candle does give you a move right after the reject. At the point of the trend-line break, the ZLR has moved quite a bit (i.e. it's already late into the 'trade'), and your reversal doesn't come until the next bar after.

Also, take a look at the price bars on and right after the CCI crosses above the 0 line, you have some movement there too...

I have never traded this method but I gathered from their instructions that it has a lot to do with timing as well, even getting in the trade before the candle has completed.

just an observation.....
 
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