I trade the YM, ER, NQ most days. one method that I use for entries in the ER is to plot a difference chart with a moving average of the difference between the RUT ( Russell 2000 index) and the ER (future) I enter with the trend when the future value gets to an extreme above or below the RUT value. The ER is a bit thin and it seems like the Russell 2000 is harder to ARB against the future than the es or ym. In general the Er trends nicely. If you can handle some mild draw downs another method that I have been watching is to put a 25 LSMA on a 2 min. chart. Trade this until about 11: am ... go long after 3 bars close above the 25 LSMA and stay long until the 1st bar closes below the 25. Go short when 3 bars close below the 25 and flat when the 1st bar closes above. You can usually get 1 nice long and 1 nice short on most days. This wont work in chop that is why I wont trade it after 11:00. If you have a short hold tendency like I do its hard to be patient for the whole run because you will be convinced that it is heading back through the 25 LSMA but it will often stay above or below for several points at $100.00 per point. Not too bad. I sometimes trade this with the small SSF IWM so I am not so worried about it. Just watch it for a while and see what you think. I have had some really bad slippage on thin volume but that can also help when it is in your favor. The ER seems to have a mind of its own and will often be out of sync with the YM, ES and NQ so be careful. Trying to pick tops and bottoms can kill you because it can trend so far. Use a stop. I trade in Woodie's room and use the CCI for most of my trades except the ER. Good Trading All
I took a look at this so called woddies site what is the differerence between it an LBR's site ? also ... forgive me but what is an LSMA ? log smoothed MA ?
The big difference between Woodie and others is that Woodie, besides being an excellent short term futures trader who has spent many years perfecting his CCI trades. Charges nothing!! I have met Woodie and alot of the traders and moderators from the room. Woodie just gives his all and wants nothing in return. I think that LBR is a great trader and has a lot to offer also, just does so at a price. I agree that Woodie's room is not the answer for people who just want the trades called for them but if someone wants to learn to trade futures and is willing to learn the CCI as Woodie teaches it along with his trade management it will be of great value at no cost. Other than the small cost of the hotcomm network. I wish i would have found Woodies room a few years ago. I have been there for just over a year. Nas AKA ESpionage (Woodie's room)
the traders expo ' s? if he is such a good trader ... does he run money or has he been interviewed or written a book ? ( please .... I am only wondering how he got such a following if he is not a market wizard etc ... ) did he invent a new way of looking at the CCI indicator?
He has alot of very good traders in his room and I guess the news just spreads. he does do seminars for the CBOT about trading the YM using the CCI. Will be doing one in Jan 04 I think. There are traders from many countries that trade in woodies room. His followers have steadily grown. He does not present at the trade Expo because he is not trying to solicit new members. Members seek him out. There is no advantage to Woodie to have more traders in his room. He just is really against other rooms who charge thousands $$ for big promises and deliver little for the money. There are several websites that have tried to package his cci technique and sell it. He hates this. His room will always be free. He says if any one feels like donating money please donate to the Make A Wish Foundation. The CCI takes a while to get the feel of and I think some new visitors to the room expect it to do magic the minute they start trading with it and then give up before they learn the trades. We trade patterns in the cci not patterns in the price. Woodie has identified the best patterns and has named them and teaches how to quickly enter trades without a lot of anxiety about the entry and exit. The CCI seems to be a leading indicator so early but safe entries are the goal. If the pattern fails we exit the trade and wait for the next setup. There are about 9 CCI trades some with trend and some counter trend so lots of action for all. The CCI also works great for swing trades and longer time frames but Woodie uses mostly 3 min chart setups. I don't want to sound like an advertisement for Woodie but he is really an honest and totally sincere person that wants to give his knowledge to any one who is willing to learn. A rare thing in this business.