Wow, man, you really are a passive-aggressive jackass.
You fit in real well with that crowd! Good luck to you too!
Woodies CCI
- Thread starter osho67
- Start date
Wow, man, you really are a passive-aggressive jackass.
You fit in real well with that crowd! Good luck to you too!
This supercedes my earlier Tips and Nuances Doc. When I was just a student of the CCI.
We all learn and evolve as time goes on. I certainly did.
I've had some fun helping a few traders, by showing them the value of "Thinking for themselves" rather than just blindly following systems.
Im glad I was able to help a few.
But it's time for me to move on.
This will be my last public post about trading of any kind.
Take Care and Good Luck.
Goinglite
After 34 posts here you will certainly be missed.
CCI does work, and so will other indicators. If you combine CCI with price bars (which Woodie is against) it helps to filter a lot of bad signals.
CCI is not a holly grail by any means, but it does work no matter what others are saying. So, does ergodic method practicied by Proflogic and Jack Hershey/Spyder channel technique.
All these systems have 1 thing in common, they require considerable amount of time to master, few people are willing to devote this much time. Thus such a high failure rate.
Regards,
redduke
CCI is not a holly grail by any means, but it does work no matter what others are saying. So, does ergodic method practicied by Proflogic and Jack Hershey/Spyder channel technique.
All these systems have 1 thing in common, they require considerable amount of time to master, few people are willing to devote this much time. Thus such a high failure rate.
Regards,
redduke
Hey look Beavis,
Using that technique I could generate approx. 70% winners/30% losers. The problem was that the winners on the ES weren't large enough (which is why Woodie doesn't recommend trading the ES with this method). I was also using straight money management, so I was just OK with the results, because they were just "OK".
As Goinglite mentions, this system teaches a trader to see patterns and how to think about the market, and once you start working with it (hopefully) one's trading will evolve far beyond the basics of a public system (as he also mentions).
Even with that old percentage, there are some traders reading the thread who could have been very profitable due to their creative money management and depth of resources.
***
I've used the CCI Histogram for quite some time in my trading development, it is and remains a good tool for beginnig/intermediate level traders to develop their skill-sets.
Ultimately, if you're trading requires an edge (not all trading systems do) it won't be using anything that the public uses, by definition.
JJ
OK, well that doesn't answer the question. How much money have you made this year?
% win is relatively meaningless- Here's a system that will generate 66% winners- buy at a random time, set your stop loss to 2 points and set your profit target to 1 point. Guess what? You'll still break even and commissions will eat you up.
Wrong-o! These people say that this is ALL YOU NEED to be a profitable trader. Go into that room and say "once you start working with this you'll evolve way past this." Watch yourself get banned!
"Even with that old percentage, there are some traders reading the thread who could have been very profitable due to their creative money management and depth of resources."
Name me one guy that's made substantial money over a year trading Woodie's CCI. Show me a backtest that this is successful.
The indicator is not what we're discussing. Great, it's an oscillator. Yay. We're talking about WOODIES CCI SYSTEM not the cci itself. Geez man.
OK, so you admit to being a naive guy and new to trading. That's ok. How are you going to make money without an edge?
I don't think you know what an edge is.
Ya, I don't think you understand the concept here.
How much $ have you made in January?
1. Van Tharp determined that position sizing ws more important than signal processing, and good money management is the key successful trading. So, while it's nice to have an edge in trading, it's not the only determiner of success.
2. The real question isn't how much I've made this year, as (i) edit: it's none of your business, it's (ii) how much money did you lose trading it?
***
Woodie's CCI system has some nice concepts, if it didn't work you, you really have to ask yourself why?
Regards,
JJ
2. The real question isn't how much I've made this year, as (i) edit: it's none of your business, it's (ii) how much money did you lose trading it?
***
Woodie's CCI system has some nice concepts, if it didn't work you, you really have to ask yourself why?
Regards,
JJ
Quote from JimmyJam:
OH WOW IF VAN THARP SAYS IT IT MUST BE IMPORTANT AND I WILL ACCEPT IT WITHOUT QUESTION.
You'd better page acrary and tell him he's wasting his time testing edges. What's that? He's a huge baller making tons of cash and you're paper trading 1 lots? But... van tharp said...
It's quite simple, if you don't have an edge you won't make money. You can't. Think about it, I don't think you understand what an edge is. I said it before... if you buy at a random point and set a stop at 1 and a profit target at 2, will you make money? No, you won't. You'll break even at best and be eaten alive by commissions and the spread. Position size however you want.
Test the ZLR trade, it's not a winner as taught by Woodie. He's nuts and I think that he likes the power and he likes being a figurehead. I guess what he's doing isn't THAT bad bc none of the sycophants that flock to his room have what it takes to be winners- some sort of critical thinking is required for success in this business and if you can fawn over something like that you don't have that kind of critical thinking.
2. The real question isn't how much I've made this year, as (i) edit: it's none of your business, it's (ii) how much money did you lose trading it?
Hey I'm up 10k on the year (no, this isn't much there are surely tons of guys on here making WAY more than that, so no I don't have a big head but I'm happy with my progress) , no I don't trade Woodie's CCI. Yes, it's taken me a lot of work to get good at this, and also thank god for poker. Holla. Just make up a number if you can't provide one. Come on. If you're going to say VERY GOOD TRADING this year, give us a number!
I think there's just a ton of guys on here not making any $ at all but no one really wants to admit to that and they want to post strategy too right so guys like you put some charts up and talk about stuff. Hey, don't do that. What good could your input possibly be if you don't actually make enough to live on? It's like if I showed up at a pro baseball team and told them stuff I'd learned last from other guys who said they were pro baseball players. WTF, they'd laugh at me.
I don't trade it. At one point I ran some pretty simple backtests, both mechanically and just eyeballing it and found it very very wanting.
The turnover in that room, is, was, and will continue to be very high because none of those people make money.