Mr. Rabid, I attempted to provide you a break, however, you appear to be oblivious to it. I have nothing to sell or "pump." I despise the scam artists that are claiming to have the trader's holy grail, taking honest people's money. I do believe strongly in Woodie's motto, "Traders helping Traders." There is too much scamming and not enough helping going on in this business, imho. There is nothing more to it than that. If it makes you more comfortable with yourself to call it a Cult, then do so. But your continuos rant on the subject of a Cult misses the point. Your uninterrupted bombast reminds me of yet another quote, Sir Winston Churchill stated, "A fanatic is one who can't change his mind and won't change the subject." keving
Jack Jack Jack How can you make a judgement on people without all the evidence? Go into the room for a month, then make your comments. There truly are people in this world that want to help others for no other reason then " they can ". Sure the room is a little culty at times and yes the calls our ambiguous sometimes BUT Let's keep the big picture in mind here shall we , the man does a heck of allot more RIGHT than wrong. When your perfect then you can expect others to be perfect too until then only a fool would miss out on an opportunity to learn something of this caliber for free. That being said I will repeat my warning and advise about the room. Papertrade all the trades until your profitable for at least a month and try and get a senior member of the room to help you. If possible meet with someone in the room from your area BUY them a coffee or dinner that's what my friends did that are now doing well with the methods.
Its pretty amazing how silly things can get and some of the criticism here is valid but some of it is strange. Perhaps it is based on experience from other places, perhaps they were thrown out of the room as some disruptive folk are, perhaps some of the people are simply a bit sad. It is true that not everyone will find the room comfortable. Some in this thread didn't like it and left. I have spent about 8 months in the room. When I started a trader called Nick said that it would probably take 18 months to be profitable with CCI. Another trader, Fitzy, said that you could speed that up if you focussed on a small subset of the CCI trades. Both of them are correct -- because what Woodie (Ken Woods) is providing is an opportunity to learn how to use a simple indicator to become consistently profitable. But like everything else you have to do a lot of work to achieve it. And it doesn't suit everyone. After I had been in the room for about 4 months I commented to a long term Aussie trader (not the one referred to earlier who is known in the room by the nickname Blinky) on the rollover in names. His comment was that many people who arrive in the room won't put the work in to become profitable and leave sooner or later. Also the room's feel doesn't suit some people. People get "told off" for introducing other indicators into the room for a good reason. Learning to trade requires focus on a method for a long period of time. When someone brings a new indicator in it confuses people who are trying to learn the small number of indicators that are used in the room. Its not that they are bad, its just that they cause confusion and slow down the learning process. If you do decide to try the room here are my suggestions: - be aware that it will take at least 6 months to build a profitable strategy based on one or two cci entries and woodie's four exits (many use a target for half their position too). - be aware that it will only work if you keep it simple and do it a step at a time - be aware that you might not like the feel of the room in which case you will stay for your 3 month hotcomm lite license and then go somewhere else. Thats fine. - after you think you have an entry or two and the four exits try it out on old data for a while to learn if you are winning with it - then paper trade it live (don't post your trades just do them) preferably using an entry tool like bracket trader, ninja trader, futures-trader etc to record the entry and exit real time - each day compare your actual trades with the hindsight trades to see if you can improve. - when you have been consistently profitable day after day for two-four weeks start trading lightly. I also looked for a 70% win rate before I changed. - dont change timeframes or introduce extra indicators until you have been consistently profitable for several months or you will set your learning back. If you can stick this out (probably with other strategies as well) then you can be consistently profitable. Your choice. You don't have to go there and we might all be better off if some of the posters in this thread didn't. Good Luck and Good Trading, Kiwi
I am new to Woodies room amd so far I like what I see. The room stands up for Woodies motto "Traders Helping Traders". And there is a lot of that going on in the room. My advice to anyone who wants to learn how to use a good leading indicator would be to take some of the comments in this thread with a grain of salt. Because as you should know if you have been trading or around traders for a while that any system can work if you stick to your rules for the system, and that everyone has to find a system that they are comfortable with. Nothing works for everyone. So you owe it to yourself to at least try it out as you do not have to risk any money to do so.
You posted a chart that already had shown all the cci movements, nothing really left to predict... Still, i wouldn't bash woodie. I honestly believe woodie is a profitable trader, though I think a lot of his trades do not follow the written cci rules that the room follows.
DaxTrader, I feel you are hitting the nail on the head and completely agree. Have you ever noticed how woodie is at least partly out by the time the "newbies" are just getting in? As woodie says: It is all about timing. And when you make the call then with a big room you'll get a certain amount follow through. The ES is a market with small number of contracts per trade. This makes that when a large number of orders flow into the market in the same direction then it does affect the market. This has been proven by the MIT. It is interesting to dig through old postings before the group moved to the present site and what the rules were a few years ago and what they are today. And Kiwi, one protege of mine got booted from the room because he quoted some remarks from the hotcom room and asked a question of what was going on. Instead of addressing the question (and the message) the messenger and the message got killed off. And, to be honest, he had a good point. To me, there is a lot of value in the room but I feel that more and more it is leaning towards a cult and that it is very dictatorial. There are continously remarks being made "keeping it simple". Keeping it simple and taking 6 to 18 months to master? If I see some traders being profitable for a while and then after 16 months thinking of taking a while off from trading because things are not going well then I start to wonder on how "easy" it really is. You'll have to find your own "setups" and "nuances" that work for you. I say this because I firmly believe that if you look only at the setups shown then you are too late into the trade and become the "goat". Trading is far from easy, far more difficult than people are led to believe and this is in my opinion the greatest misinformation in the room. If you are prepared to put in the hard work, and have the time to put it in, then it can be a good place to learn how some scalpers think. I see traders that are consistently profitable and this gave me last year the courage to carry on and not to give up. No longer do I consider that profitable trading is a pipedream and the results are already starting to show up. I feel sad for all these people flocking to the room these days, lots of dreams will be shattered and many accounts will be destroyed. Most of these people do not realise how tough it is.