Woodies CCI

Quote from CFerret:

Bytehoven:

Here is an example of CCI showing a good shape regular divergence, while price bar closes up and this setup allows to pick almost an exact top with a very nice risk/reward.

Chart is 5min NQ, Globex session.

Cheers
Janis
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Thanks

I see what you mean. A couple of follow up questions.

Have you compared the same period of either chart, with a tighter time frame such as 10-50 tick chart? I ask because it's possible a 5 minute chart lacks the resolution to allow price movement to exhibit the price dropping you noted, and then rising back up for the fllowing 5 minute bar. I'm wonder if a tighter chart with a moving average might have showed the same cross over as your CCI crossing the trend line.

Also, what CCI settings did you use with the 5min chart?

Thanks for posting the follow up.
 
Quote from Bytehoven:


Have you compared the same period of either chart, with a tighter time frame such as 10-50 tick chart? I ask because it's possible a 5 minute chart lacks the resolution to allow price movement to exhibit the price dropping you noted, and then rising back up for the fllowing 5 minute bar. I'm wonder if a tighter chart with a moving average might have showed the same cross over as your CCI crossing the trend line.

Also, what CCI settings did you use with the 5min chart?

Thanks for posting the follow up.
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I use confluence of different time periods, but not in a way you described. In the case of divergence indeed price dropped first and as CCI uses median price for calculation it hooked, but in today's example of TLB, no drop below actual price TL happened, so CCI was a truly leading in this case.

Though actually I don't care too much about picking an exact top/bottom, more about momentum to be on my side.

CCI settings used are standard 14. HSI chart was 1 min, NQ chart - 5 min.
 
<i>"If your trading system rules are not defined enough to be automated....put on your trading helmet, it is going to be a tough long trade day."</i>

False. Many successful short-term traders use a discretionary approach. Automated trading has equal if not greater mental = emotional challenges to deal with. When it's time to press the trigger on real-money trades, automated is no easier on the mind or nerves than discretionary is.
 
ouch!!
As with everything in life, nothing is for free. There are a lot of scams out there in the trading world and I would be hard pressed to give you anyone who gives you the straight story. Take for example Woodie's CCI Club. It is free right? Kindly old guy runs it. Things there are not as they seem.

Did you notice that anyone with a shred of integrity, once they learn the truth, runs as far as they can from that club? All those years of Make A Wish donations, most of them are unaccounted for. Woodie himself does not trade CCI. And as for that CCI system, it does not work. And besides, no one is sure if woodie even trades at all?

With the advent of the internet, it is really easy to check up on anyone. Can't hide who you are anymore.

Yes, I was part of that club for 2 years as their "calendar gal" and I lost a lot of money trying to make CCI work. Most of us want to believe. I am still that little girl beleiving in fairytales even though I am 54.

Posted by Bob and Cathy at Sunday, February 17, 2008
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Hi Nkhoi,

Where did you see this post?

I am not sure, why Cathy is saying this about Make a Wish Foundation. I went to one of Woodies TALs (trade a long) in 2005, and when I made the payment, I made it directly to Make a Wish foundation, and Make a wish represantative was there with the list of all paid participants.

What a lot people do not releaize about CCI is that its best purpose is to help in price action interpretation. No magic there.

I think I met Cathy and her husband when I was there, she seems very enthusiastic.

Regards,
redduke
 
another one!
k9tbih.png
 
terribles someones needs interventional. lives are destroyed, looks at these nice old peoples, lives ripped to shreds.

woodie no uses price??? use CCI only? that true?


http://boobyhatchnews.blogspot.com/

http://cathycreates.blogspot.com/



<i>Today I am just pissed and about to explode. I have blown out my $125k account to just $2.5k. All the indicator packages and chat rooms in the world are useless pieces of garbage. I should know, I tried too many of them.

I am just sitting here deciding if I will throw in more money or do the smart thing and quit!

I follow a set of rules to the letter and what do I get? Another $250 gone! I have tried so much and it all comes back to "how do you tell that a market is going to reverse before it does?" Guess no one can tell me that. I try to hang on and get stopped out on these huge ass stops. Wow.

Shit and shoved in it.



Posted by Bob and Cathy at Tuesday, June 26, 2007 <i>
 
Nikhoi,

Clint himself mentioned in his post that he was not disciplined enough. Like I said, not sure why Cathy is spreading Make a Wish lies.

I have been a long advocate of not using fixed time fractals with CCI and to incorporate price action. I went further and included time&sales and market depth as addtional input entries.

Nothing ever is handed on silver platter, and CCI traders need to relaize this.

redduke
 
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