Woodies CCI

Look's good

Like I said before, he has good money management and I do think his setups are good, I just never followed it like the room did, I saw many other trades setups that he missed some even I wished I missed, but I do understand he has 500-1000 people in his room and anyone that has that many people has to make sure they all use same time frame and do the exact same thing or it would be impossible to run a room with that many people, I know he has used 233 tick charts and 3 min in the past but like I said his room is to big to really teach different time frame charts or how to use CCI with other indicators, I do feel anyone who is new to trading should stop by Woodies to get a free education, I feel he has alot to offer traders.

I will not get into if he makes money, or if his traders do, there are too many variables to argue about there ( don't want to touch that ) LOL
I have listened to some of his moderators take trades, and some are really good some not so good

Just food for thought


P.S either way Woodie is a great guy but get all 500-1000
traders to make money ?


Take Care,

Joe B.
 
I feel that...CCI like any of the other technical tools, should be used only as just a one of a series of confirmation indicators, like RSI or MACD. Just my opinion....
 
Quote from rcanfiel:

trading, realtime results on one contract basis for last couple of years, using CCI. Cash indices used, since futures contracts on Freecharts.com do not go back very far...

60 day CCI on cash index of:
- S&P (loses $62,000 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=SPY0&sig=12
- Nasdaq (loses $14,700 on one contract) http://freecharts.com/Commodities.aspx?page=perform&sym=NDY0&sig=12
- Dow (loses $1600 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=DJY0&sig=12


40 day CCI on cash index of:
- S&P (loses $41,000 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=SPY0&sig=08
- Nasdaq (makes $3300 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=NDY0&sig=08
- Dow (loses $5300 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=DJY0&sig=08

Only 1 of 6 turns a minor profit. The rest range from losses to massive losses.
So, why is the CCI so promising???
More...

LOL, you tested very discretional system mechanically?
 
<i>"LOL, you tested very discretional system mechanically?"</i>

The real question is, what professional daytrader would even consider using a rank amateur tool like "freecharts" in the first place?
 
Quote from austinp:

<i>"LOL, you tested very discretional system mechanically?"</i>

The real question is, what professional daytrader would even consider using a rank amateur tool like "freecharts" in the first place?
More...

Nice to see a bunch of test results but i have some questions.

Criteria of entry?
Criteria of exit?
Criteria of stoploss?
What Woodie pattern is traded?

I don't see them.

In my blog its clear, no discussion on entry or exits.
No discussion on stoplosses.
No discussion on chart type and time frame.
No discussion on what pattern

I will trade them according to his rules and the end results will prove whether the system works or not
 
Quote from austinp:

<i>"LOL, you tested very discretional system mechanically?"</i>

The real question is, what professional daytrader would even consider using a rank amateur tool like "freecharts" in the first place?
More...

I assume, only SUPER PROFESSIONAL BORN TRADER. :D

Indeed, trading with tools like CCI is much like learning to play games like tennis for example. Skills can only be obtained by hours and hours of practice and in no other way.

Testing discretionary systems such as WCCI mechanically is just like trying to mechanically test results of a tennis game you're going to play tomorrow. :)
 
As promissed i will keep you all informed on my findings with using Woodies CCI.

In the posted link you'll find the results of the previous week. (red paperclip)

http://destarter.beloggen.nl/pages/Topic.aspx?id=3463

So far i made the following results

I use Woodies CCI method and only trade his zero-line reject pattern. Entry and exits are defined in my blog. I trade with 2 fti contracts.

week 1 oktober profit € 216,-
week 2 oktober profit € 294,-
week 3 oktober profit € 1332,-

I had 48 trades so far in oktober, 25 winners and 23 loosers.

Grtz
 
You really don't need all of Woodies Mumbo jumbo ghost patterns and zero line rejection crap. I've been using CCI for years albeit I have some custom paintbars and alerts I mainly use trendlines to tell me way inadvance when a huge move is going to take place.

Spend a few hours of screen time learning which peaks and valleys are significant to draw from and presto! You'll be hours ahead of any other trader on the planet when it comes time for entry.

I typically am in two bars early and out two bars before anyone else is. I've attached a chart to get you started on the ideas I'm talking about. One thing about the CCI that many traders (including Woodie) don't know are its undeniable "predicting powers".
<a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/f2c3c739f3.png border=0 alt="Free Image Hosting"></a>
 
Dear Scary

First of all i appreciate your charts. It seems you enter the market with a vision.

But now back to the facts. In here was a discussion about the functionality of Woodies CCI and his patterns. I read it all, and because of the discussion i started a blog to prove whether his method works or not.

His criteria are clear, entry/exits/stops/moneymagement

Just follow the results, we want to know if his system works or not.

ps. If you post your exact entry and exit criteria i will test your system too. I am always interested in new systems
 
I don't have any problem telling you what I use as far as the CCI, but the coded paintbars (the colored dots and squares on the chart) took me over 4 months of quantitative analysis to develop and using neural modeling and they change daily.
I can tell you this: before I developed them I used the CCI and if you look at where I am drawing the trendlines from you will see that 100% of the time they are correct. Thats right 100%!

I give nor take anything away from Ken Wood (aka Woodie) as he's a decent guy who knows how to trade "his" system and knows all of it's subtle nuances and does try to convey them to his students. That said I will tell you that you don't need to know any of them if you so choose as the CCI with the proper settings will give you a boatload of cash on any day in any market. I trade futures only including hogs, gold, silver, natural gas, ER,ES, and NQ.

One of the main reasons I developed the code I use is to help me when when trading 3 or 4 markets at the same time.

Below is a simple example of what to look for when drawing a trendline to be used in the future for entry. Good luck and don't give up if you have invested time with the CCI as it's a great tool and has made me hundreds of thousands of dollars.

<a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/03686fe405.png border=0 alt="Free Image Hosting"></a>
 
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