Woodie is getting old and deranged. His diabetes has set in pretty severely, and it shows in how much patience he has in his "trading room", which is more like a bunch of idiots repeating verbatim his .pdf doc, and shutting down any questions that "deviate" from the "system".
In the last year, Woodie has also actively banned any volunteer mods that even MENTION other techniques, or even different settings than his default settings, in his room. I'm good friends with Nate in real life, who used to be one of his most popular mods, because he'd throw out bits of advice in addition to the CCI to help people in there have at least a fighting chance when trying to identify every little jerk in the CCI as a "zlr".
Woodie doesn't even trade futures himself, the only trading he does these days is a bit of options trading. Go into his room sometime if you want to feel what it's like to actually get stupider, and listen to him during market hours for a week. He'll "make a call" and then go back on it and claim he never said it was a clean entry when it reverses back on him at least 2-3 times a week, the rest of the time he just makes his "calls" after the position has moved in his favor 4-5 points, then if it reverses claim that you need to work on your exits.
In addition, his patterns are not "his patterns". They're general patterns that show up in almost ANY faster momentum oscillator, and have been around for years.
Also, if you compare his .efs for eSignal to a standard CCI set to HLC/3 you can see that he fucked with the standard deviation used in calculating the CCI to create a minor lag, which is fucked up in my opinion since he doesn't disclose that.
I don't have anything against Woodie personally, in fact I think it's "social darwinism" at its best. People who follow Woodie's system will go broke trading futures intraday. Nate used to get tons of emails from people who went busto and were desperate for some kind of "coaching".
In short, there's some validity to the "patterns" Woodie claims are his, but by no means are they a complete trading system. Woodie is a douchebag, and arrogant to boot.
I was permabanned from his chatroom for talking about looking at Time & Sales data on the Russell index futures, because it was "not a valid part of trading and not part of the system, and I was leading people in the wrong direction away from profitability." Heh.
In the last year, Woodie has also actively banned any volunteer mods that even MENTION other techniques, or even different settings than his default settings, in his room. I'm good friends with Nate in real life, who used to be one of his most popular mods, because he'd throw out bits of advice in addition to the CCI to help people in there have at least a fighting chance when trying to identify every little jerk in the CCI as a "zlr".
Woodie doesn't even trade futures himself, the only trading he does these days is a bit of options trading. Go into his room sometime if you want to feel what it's like to actually get stupider, and listen to him during market hours for a week. He'll "make a call" and then go back on it and claim he never said it was a clean entry when it reverses back on him at least 2-3 times a week, the rest of the time he just makes his "calls" after the position has moved in his favor 4-5 points, then if it reverses claim that you need to work on your exits.
In addition, his patterns are not "his patterns". They're general patterns that show up in almost ANY faster momentum oscillator, and have been around for years.
Also, if you compare his .efs for eSignal to a standard CCI set to HLC/3 you can see that he fucked with the standard deviation used in calculating the CCI to create a minor lag, which is fucked up in my opinion since he doesn't disclose that.
I don't have anything against Woodie personally, in fact I think it's "social darwinism" at its best. People who follow Woodie's system will go broke trading futures intraday. Nate used to get tons of emails from people who went busto and were desperate for some kind of "coaching".
In short, there's some validity to the "patterns" Woodie claims are his, but by no means are they a complete trading system. Woodie is a douchebag, and arrogant to boot.
I was permabanned from his chatroom for talking about looking at Time & Sales data on the Russell index futures, because it was "not a valid part of trading and not part of the system, and I was leading people in the wrong direction away from profitability." Heh.
