If CCI (or any indicators) is the holy grail, those who use it wouldn't tell others nor promote it to the public with any specifics. Otherwise either early retirement or trading for donations to the needy charity bodies.
OK, I think our are right, but maybe there are other people like myself who likes to share good ideas? P.S. I know very little about CCI, but I don't think the holy grail exits.
CCI might be a little bit comparatively good for visual effects that could be useful to some pattern traders. You may try www.woodiescciclub.com , of course this one as well http://www.elitetrader.com/vb/showthread.php?threadid=29876 . Before one day finding out a holy grail, what we need is simply a system with some edges, that most likely wouldn't be shared or discussed with others.
I think there's a lot of new (and young?) traderes, which don't like the "old" indicators, who loves and uses CCI.
I believe CCI has been around for some time now. If any single indicator is the Best one, then no more other indicators would be used by any traders, then no more new indicators would be created, then every trader is competing each other within the domain of the particular indicator, then no one would be sure for the edges with it. I wouldn't think we are in this status Yet.
My short was started above the 107.40 level. Luckily still profitable for now. I have placed stops to control the trades.
Hey folks, I hope you all had a great weekend! I sure did, and upon my gf's convincing words, resisted the temptation of checking my positions over and over. As it turned out, above ES trade was one of the best I've made in weeks. "Was", because I just decided to get out. We might see a bit of a "correction" during the trading day today - the market seems very oversold. My profits were taken at 99 level, so I covered for a profit of +21.00 pts /84T. If, however, the market goes into selling mode on volume soon after the open, I will re-enter. If it goes up a bit (which I consider quite likely, scanning the tape over the last few hours), then I will will also re-enter, just at a better price. Well, that's just my decision. Any comments? Best Regards! Scientist