Yes, I completely agree with you. I don't need another "system which works well in a trending market". In a trending market I can make money easily.
tell me... is there a trend following method that does not lose money in a sidways market? tell me... is there a method out there that doesn't lose money in a sideways market?
Well, so why did you expect the Woodie stuff to work in a non-trending market? In a market with no clear trend you are most likely to get random results. You trade when you see a trend or anticipate it (if you can do this) or else you stay put. That's all there is to trading. Woodie's stuff is no Holy Grail. The simplest of Woodie's setups (ZLR) is a pullback in a trend. Is it really so hard to realize that?
Because the hosts of his chatrooms say "Woodie's system is profitable even in a non-trending market".
Yes ... if you can predict correctly that it will stay a sideways market for some set duration, all you need to do is buy the appropriate short-term barrier-range digital options at BetOnMarkets. Very profitable indeed!
well this is my belief only... but my opinion is, prediction has nothing to do with making money in the market. Doesn't make sense though, does it? It does to me though. BetonMarket? Well glad you found the answer I haven't bothered to answer peace
Not really wanting to defend Woodie specifically (after all he did ban me from Daves site ... grrr ... lol) but everyone here is right about their own bit of the truth. Most who really make the CCI work use it as a fast (because its price vs sma) reject from zero in a trend. This is the zlr where you buy once price starts to move out of a retracement. I use price patterns to detect the same "reject" and some might use the smoother but slower stoch or macd (yes they are slower because they use more bars to calculate the rejection at the bottom of the retracement but they also give fewer false signals). To me the challenge is: how do you determine that the trend is there and make the determination before its about to run out of steam. Or even better how do you determine that the period of consolidation is about to finish and decide on a strategy for entering the new trend. When I was at Woodies most of the successful (I assume) traders used a longer term ema to decide that the trend was present. If you do that then, even though I barely use the CCI myself now (just divergences for early exits), then I can't see how you couldnt make money trading the euro during the european and us sessions. Actually, I can but its not really about the zlr as an entry signal at that point.
I am fascinated at the number od people who seem to be obsessed with discrediting Woodie. I would like to state that I have known Woodie since he was on paltalk with about eight people in his room. I have never heard him solicit or charge anyone to be in his room. All he has ever asked is that if you do make money trading the CCI, that you voluntarily make a donation to the Make-A -Wish Foundation. I have never seen any advertisements inviting traders to join his room and I have seen the tremendous growth that he has experienced. So I as myself and others on this board, especially those who seem intent on bashing Woodie, Is this just pure envy? No one forces anyone to trade. All traders should know that they are ultimately responsible for any trades that they take. No one knows the future, not me , you or Woodie. So to say that a system does not work because of false signals does not make any sense. One thing we all have is the freedom to chose, and this is evident in the market every day. While some traders chose to sell others chose to buy. Some win and others lose. So please guys , let's be fair . Give Woodie a break. People who stay in his room , choose to do so. This does not make them smart or stupid. They are just exercising their freedom of choice, as should you. Alipang
Well, To answer your direct question with a direct answer ...Yes. Look at the ADX +DMI/-DMI system . It would keep you out of trades I believe. Michael B. P.S. Hello there Kiwi
Alipang. I am curious. Are you still in his room? The reason I ask is that when I left after about 18 months after we argued about the esignal issue I was almost the longest lived member there. Virtually all the significant members who were there when I started had gone. R7 was still around (off and on) and NickTrader after a few months away had come back but all the moderators etc were newer than me. GB is/was also still there but he doesnt trade anything like Woodies style; neither does R7. For a room that grew so big it seemed to be very transitory. So are you still in the room on a regular basis?