Who is Woodie???
- Thread starter wdscott
- Start date
- Status
"traders helping traders"
my suggestion-----
take the time to visit the room on hotcomm and focus on the content and then make ur own decision. why do traders gather here???? does it work?? "the proof is in the puddin!!!"
can u imagine over 500 members working together, trading, learning, and sharing??? yes, rather amazing!!! u can find fellow traders in the room 24/7.
this room concentrates on CCI trades and Woodie has shared his trading plan.
rivertrader
my suggestion-----
take the time to visit the room on hotcomm and focus on the content and then make ur own decision. why do traders gather here???? does it work?? "the proof is in the puddin!!!"
can u imagine over 500 members working together, trading, learning, and sharing??? yes, rather amazing!!! u can find fellow traders in the room 24/7.
this room concentrates on CCI trades and Woodie has shared his trading plan.
rivertrader
A Woodie Quote
"I make enough trading CCI...i don't need to charge people ..those who charge can't trade goodenough so they have to charge.....thats why this room will always be free."
------------------------------------------------------------------------------
NEW to trading the E-Mini's go to the room - please NOTE
The Room Slogan, No Boasting, Just Posting
for information goto:-
http://www.woodiescciclub.com
------------------------------------------------------------------------------!
FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE -
With over 500/600 people in this room we must all have some respect for Woodie and other moderators.
Before jumping in with both feet listen and learn for at least a week about how we do things in here.
Tip 1. Will all new people to Woodie's CCI Club please keep the questions down to a minimum.
Tip 2. Go and research the indicators we use CCI/LSMA/EMA/Square of Nine.
Tip 3. Go and research the patterns we use SHAMU, GHOST, TLB, SLINGSHOT, ZERO LINE, BATMAN etc.
Tip 4. The moderator's are all traders realtime and are willing to answer questions after hours.
Tip 5. Please leave all microphones off during trading hours, except for the daily moderator.
Tip 6. Please do not post charts or pictures unless there is a good reason and it contributes to the room and you point out the area of interest on the chart, CCI tlb, slingshot, hook, shamu, ghost or whatever.
Tip 7. Please post questions in text, the daily moderator will answer if / when they are NOT in a trade.
Tip 8. We all encourage you to post your trades in and out and if possible why. NO ego's, NO total $ or points for the day.
Tip 9. Absolutely NO Soliciting allowed in this room.
Tip 10. Enjoy this room and your CCI trading - it is free to be here - you will love it and it will feel like home - have fun and contribute......8).
for that information goto:-
http://www.e-minitraders.com/phpBB/
http://www.talkstox.com/forum/forum...p?s=&forumid=13
http://www.woodiescciclub.com
http://www.r7.com
We live by Woodie's Mottos:
- Traders helping traders
- Positive attitude and positive posts
- There will be better trades down the road!
If you have had a good week trading you may need this website
Woodies CCI Club supports The Make-A-Wish Foundation®
goto:- http://www.makeawish.org/
MANY thanks to everyone that have made this room a very positive and rewarding experience
"By Traders, For Traders â Sharing Information Freely To Help Each Other Succeed"
-------------------------------------------------------------------------------------------------------!
"I make enough trading CCI...i don't need to charge people ..those who charge can't trade goodenough so they have to charge.....thats why this room will always be free."
------------------------------------------------------------------------------
NEW to trading the E-Mini's go to the room - please NOTE
The Room Slogan, No Boasting, Just Posting
for information goto:-
http://www.woodiescciclub.com
------------------------------------------------------------------------------!
FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE - FREE -
With over 500/600 people in this room we must all have some respect for Woodie and other moderators.
Before jumping in with both feet listen and learn for at least a week about how we do things in here.
Tip 1. Will all new people to Woodie's CCI Club please keep the questions down to a minimum.
Tip 2. Go and research the indicators we use CCI/LSMA/EMA/Square of Nine.
Tip 3. Go and research the patterns we use SHAMU, GHOST, TLB, SLINGSHOT, ZERO LINE, BATMAN etc.
Tip 4. The moderator's are all traders realtime and are willing to answer questions after hours.
Tip 5. Please leave all microphones off during trading hours, except for the daily moderator.
Tip 6. Please do not post charts or pictures unless there is a good reason and it contributes to the room and you point out the area of interest on the chart, CCI tlb, slingshot, hook, shamu, ghost or whatever.
Tip 7. Please post questions in text, the daily moderator will answer if / when they are NOT in a trade.
Tip 8. We all encourage you to post your trades in and out and if possible why. NO ego's, NO total $ or points for the day.
Tip 9. Absolutely NO Soliciting allowed in this room.
Tip 10. Enjoy this room and your CCI trading - it is free to be here - you will love it and it will feel like home - have fun and contribute......8).
for that information goto:-
http://www.e-minitraders.com/phpBB/
http://www.talkstox.com/forum/forum...p?s=&forumid=13
http://www.woodiescciclub.com
http://www.r7.com
We live by Woodie's Mottos:
- Traders helping traders
- Positive attitude and positive posts
- There will be better trades down the road!
If you have had a good week trading you may need this website
Woodies CCI Club supports The Make-A-Wish Foundation®
goto:- http://www.makeawish.org/
MANY thanks to everyone that have made this room a very positive and rewarding experience
"By Traders, For Traders â Sharing Information Freely To Help Each Other Succeed"
-------------------------------------------------------------------------------------------------------!
CCI is an oscillator created by Donald R. Lambert. It compares the current price with a moving average over time, such as 10-periods. The mathematical formula is:
CCI = (M - A) / (0.015 * D)
where
M = (H + L + C ) /3
A = n-period simple moving average of M
D= mean deviation of the absolute value of the difference between mean price and simple moving average of mean prices, M - A
Although the CCI was created to look for buys and sells at extremes of +100% and -100% levels, most traders just use CCI as an overbought/oversold indicator.
In the Encyclopedia of Technical Market Indicators by Robert W. Colby CMT, pages 155-161 it is clear that on a simple system of buying above the +100% and selling below -100% the system reported positive results. On the Dow Jones Industrial Average for the years tested 1928 to 2000 an initial capital investment of $100 returned 10,816. Absent transaction cost and taxes this simple strategy had not had a losing year in 72 years of testing.
A Further test conducted of CCI by taking buys above the zero line and sells below the zero line showed even more amazing results. Starting with an initial investment of $100 turned into 1,238,397 in the same 72 year testing period. Again absent transaction costs and taxes. An increase of 26,967% over a buy and hold strategy.
It is clear that such simple parameters for a trading system as the ones above for CCI, clearly show a usefulness for this indicator. Both these tests were done using the CCI as a trend following indicator.
Although I have not gone over Woodies entire website, it is clear he uses the CCI for both momentum, and divergence trades. He also uses Trendline(TL) breaks not only on price but on the indicator itself, whereas most traders only use TL breaks on price.
Although I noticed that CCI indicates divergence trades, positive, negative and hidden, I personally believe other indicators such as the MACD and stochastics do a little better job in defining these divergences. My personal opinion only. But I have noticed in studying many charts, is the CCI pinpoints momentum trades with much more precision. Additionally just using the zero line as a base, buy taking only buys above 0 and sells below 0, as a filter, seems to keep you out of the wrong side of the market. True....this alone may not make you profitable in trading but it is a start.
Although I do agree that the CCI is not a holy grail of trading, no indicator or person is, I do believe that this indicator, upon recent examination, does provide good initial trade location on momentum trades, so much so, I will further my study and consider using CCI in my trading.
Utilizing the attached file, I have a CCI chart of the E-minis, absent prices for a day. Using zero ( 0 ) as the baseline, Look for buys on movement above the zero line to the +100 level or higher with a subsequent retrace back to 50 or so ( it's relative for now) with a hook and push again in a positive direction. Reverse this for short trades. Let me know where you see precise buys and sells. If that is too difficult just indicate at what times to be long, short, or out the market completely. This exercise may prove useful in learning this indicator. I will then post what trading day this was and discuss the trades.
Best Regards,
Dave Scott
CCI = (M - A) / (0.015 * D)
where
M = (H + L + C ) /3
A = n-period simple moving average of M
D= mean deviation of the absolute value of the difference between mean price and simple moving average of mean prices, M - A
Although the CCI was created to look for buys and sells at extremes of +100% and -100% levels, most traders just use CCI as an overbought/oversold indicator.
In the Encyclopedia of Technical Market Indicators by Robert W. Colby CMT, pages 155-161 it is clear that on a simple system of buying above the +100% and selling below -100% the system reported positive results. On the Dow Jones Industrial Average for the years tested 1928 to 2000 an initial capital investment of $100 returned 10,816. Absent transaction cost and taxes this simple strategy had not had a losing year in 72 years of testing.
A Further test conducted of CCI by taking buys above the zero line and sells below the zero line showed even more amazing results. Starting with an initial investment of $100 turned into 1,238,397 in the same 72 year testing period. Again absent transaction costs and taxes. An increase of 26,967% over a buy and hold strategy.
It is clear that such simple parameters for a trading system as the ones above for CCI, clearly show a usefulness for this indicator. Both these tests were done using the CCI as a trend following indicator.
Although I have not gone over Woodies entire website, it is clear he uses the CCI for both momentum, and divergence trades. He also uses Trendline(TL) breaks not only on price but on the indicator itself, whereas most traders only use TL breaks on price.
Although I noticed that CCI indicates divergence trades, positive, negative and hidden, I personally believe other indicators such as the MACD and stochastics do a little better job in defining these divergences. My personal opinion only. But I have noticed in studying many charts, is the CCI pinpoints momentum trades with much more precision. Additionally just using the zero line as a base, buy taking only buys above 0 and sells below 0, as a filter, seems to keep you out of the wrong side of the market. True....this alone may not make you profitable in trading but it is a start.
Although I do agree that the CCI is not a holy grail of trading, no indicator or person is, I do believe that this indicator, upon recent examination, does provide good initial trade location on momentum trades, so much so, I will further my study and consider using CCI in my trading.
Utilizing the attached file, I have a CCI chart of the E-minis, absent prices for a day. Using zero ( 0 ) as the baseline, Look for buys on movement above the zero line to the +100 level or higher with a subsequent retrace back to 50 or so ( it's relative for now) with a hook and push again in a positive direction. Reverse this for short trades. Let me know where you see precise buys and sells. If that is too difficult just indicate at what times to be long, short, or out the market completely. This exercise may prove useful in learning this indicator. I will then post what trading day this was and discuss the trades.
Best Regards,
Dave Scott
lousy 55% win rate
haha
Quote from Gordon Gekko:
lousy 55% win rate
haha
Gordon,
Although I can't verify a win rate for his chat room, and 55% may or may not be accurate, I do know that win rate in and of itself is not a measure of a systems profitability. Merely a component. Low win rate systems may indeed be quite profitable if the risk/reward parameters are there.
Best Regards,
Dave Scott
Using zero ( 0 ) as the baseline, Look for buys on movement above the zero line to the +100 level or higher with a subsequent retrace back to 50 or so ( it's relative for now) with a hook and push again in a positive direction.
I'd at least accord the man the benefit of a doubt. This chart is about 2-min ES data with a turbo (6) and regular (14) CCI and uses trendlines at +/-33, +/-133, and +/-200. It is a little easier to read. You have to read Woodie's info pages to understand the trend line placement and how they are traded.
I'd at least accord the man the benefit of a doubt. This chart is about 2-min ES data with a turbo (6) and regular (14) CCI and uses trendlines at +/-33, +/-133, and +/-200. It is a little easier to read. You have to read Woodie's info pages to understand the trend line placement and how they are traded.
was curious about the top indicator...
http://www.stockcharts.com/education/IndicatorAnalysis/indic_stochasticOscillator.html
I used 30 for the highest high value and 86 for the lowest low value. Smoothing value is still the standard 3.
Note: Just rechecked my formula, I smooth it twice using 3 both times. That reduces the 'jitter' in the lines in my software. You might have a different experience.
http://www.stockcharts.com/education/IndicatorAnalysis/indic_stochasticOscillator.html
I used 30 for the highest high value and 86 for the lowest low value. Smoothing value is still the standard 3.
Note: Just rechecked my formula, I smooth it twice using 3 both times. That reduces the 'jitter' in the lines in my software. You might have a different experience.
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