Who is Woodie???

sometimes a "zero line reject" turns out to be a "shamu trade" and a "regular divergence" turns out to be a "reverse divergence" and a "vegas trade" turns out to be a "reverse divergence" and sometimes a "zero line reject" zig zags all the way through to the opposite side. IMHO the cci can be used in much better ways than these retarded rules.

 

Greetings. A couple of months ago, after hearing about this woodie guy with increasing frequency, my curiosity got the better of me and I signed up for a three month stint on Hotcomm.

What initially surprised me was the fervor with which “Woodie’s” CCI was promoted as the be all and end all of indicators. I’ve been using the CCI for years (actually a slightly modified smoothed version, but basically the same principle) along with one other indicator, for my trading. Someone earlier wrote that there was a perception in Woodie’s room that “his” CCI was “somehow able to predict the direction of the market in the near future...that it is a superior indicator that had not been discovered by the masses.” I can’t help but agree with that poster’s conclusion that “This is a load of crap as we all know....”

That being said, there are a number of positives to report. The room is free (aside from the 50 bucks or so for three month’s use of Hotcomm). The philosophy promulgated by Woodie and his band of moderators is good as well. It offers a structure, it provides a plan, and it instills discipline – all desirable traits for a trader to possess.

Incidentally, a number of posters here have lamented the fact that calls are not made or, if made, are vague to the point of being useless. In fairness, it should be pointed out that it is NOT the stated purpose of the room to make calls. In fact, it is very clearly stated that the the purpose of the room is to offer an education in the use of the CCI as a trading tool. The fact that “calls” are made anyway is another issue altogether.

Most people in the room are friendly and helpful, and questions related to the CCI as taught by Woodie are usually answered clearly and concisely. For someone who is just beginning to dip into the world of trading, the room probably holds some value. I suppose, for those who have been trading for awhile but are not familiar with the CCI and are looking for a good introduction to the CCI as a trading tool or are trying to re-invent their style of trading, AND need the presence of a roomful of other traders as a reinforcement, the room holds some value as well. For the rest… well, I just don’t know. Which leads me to the negatives.

I definitely got the feeling that although it is not explicitly stated, the general message is that trading is pretty simple and easy as long as you follow the rules. As those of us who have been around for awhile know, trading is NOT easy, and it is NOT simple and if one truly believes this, one WILL get killed. I was constantly amazed by the incredibly naive and sometimes inane questions that would be asked by many participants who obviously have not done one tiny bit of study and research before joining the room. Most of these people truly believe that if they subscribe to charting program “X”, set it up EXACTLY as they are told, and do with it EXACTLY as they are told, they WILL make money. Someone earlier wrote “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.” And I couldn’t agree more.

Some here have written about what they perceive to be the “cultish” aspects of the room. Call it what you will, but I have to agree that there is a certain something to the room that grates on my nerves and is ultimately responsible for my withdrawal a month and a half earlier than what I payed for. First, it must be said that I have no idea who Ken Wood is, nor do I really care. If he provides a service that is beneficial to traders then that is all that really matters. Plus, I must accept the fact that it is, after all, his room and he can do with it as he pleases. After all, it is my choice to stay or leave, and as stated, I have made that choice. However, it is also my prerogative to share my feelings and experiences with it especially since others have expressed an interest in hearing about same.

That there exists a certain freaky almost religious atmosphere in the room is a given. One only has to read the comments following any utterance by Woodie. Good grief, one would think one has just witnessed the second coming. A typical comment and attitude was provided by one of the posters here who wrote “Samson77---- WOW ok I'm shocked.... First Woodie now Barbara and GB007. We are truly blessed to have you guys on ET with us.”

Sheesh!!! Blessed??? Why??? Anyhow, this kind of thing just goes on and on and on ad nauseum in the room. My apologies for being so crude, but at the end of the day all I want to do is puke. I guess you really have to experience the level of fervor I’m referring to yourself to understand what I’m trying to say here.

“Traders helping Traders” is a motto of Woodie’s, one that is flung about continuously, again ad nauseum. I am entirely convinced that a good portion of the participants in that room truly believe that the trading community is one big happy family where everyone is just so eager to bend over backwards and help out his or her colleagues. Ha!!! Puleeze people. Wake up! Traders helping traders??? More likely Traders taking your money. These folks do not live in the real world. They have created a world unto themselves and any who do not agree to live by the dictates of that world are not worthy. Some of the comments made by Woodie, his moderators and many participants of that room makes one stop and think what it is they truly mean when they say “Traders helping traders.” I suppose it applies only to those traders who follow the dictates and pronouncements of the leader. Certainly those others are met with derision and ridicule as exhibited by comments so often heard in the room.

On the subject of “calls.” As I said earlier, making calls is not the stated objective of the room. Nevertheless they are made. How you disguise the fact that “calls” aren’t really “calls” is irrelevant. The problem is that half the time one hasn’t the foggiest idea what the call was and it is only after the fact and ONLY if it was successful that one finds out the call was made. Sound confusing? Obfuscatory? You betcha – ‘cause that’s the way it is. But, after all, making calls is not the stated objective of the room, is it? Draw your own conclusions…

The moderators, by the way, are for the most part pretty good. They seem to be sincere and genuinely helpful. Whether or not something else is going on is something I’m not prepared to speculate on. Since these are my personal observations, I might as well add that there is one moderator who goes by the handle of gio who I find extremely distracting, if not outright irritating. She reminded me of my third grade grammar school teacher, and her approach to moderating is pretty much what one would expect from a grammar school teacher. She goes on and on to make a point and just does not know when to stop. Oh well, probably just my own personality quirk.

“Solicitation” is not allowed in the room. However, this is overlooked if the solicitor is one of the moderators or Woodie himself. As an example, one day last week or two weeks ago, I don’t recall the exact date, it was announced that Woodie and the moderators would henceforth be using E-Signal. Well, wouldn’t you know it – in the space of a day there were somewhere in the neighborhood of 265 new subscribers to E-Signal (they were keeping a running tally in the room is how I know this). Now at say an average of $150.00 per month, (because, of course, everyone had to go for the premium package) for twelve months (if they last that long) thats an instant ½ million dollars in revenue for E-Signal, all courtesy of Woodie. Kinda makes ya think about the reciprocation, no?

Nahhh, that kind of thing just couldn’t happen. After all, we’re all just happy, kind-hearted traders helping one another, aren’t we?

 

Daxtrader,

I have data on the ES going back about 4 years and originally the ZLR seems to have been working. But as time progressed more and more the "shamu" started to happen and I think it is nothing but fading the move. Now the fade gets faded.

 

I say "Amen" to that.

 

how do you know its a ZLR until after it has happened? Where do you enter a ZLR? How do you recognize a ZLR?? post a chart please. I think your backtests are flawed big time.

 

Daxtrader

not getting into that - that was not the purpose of this tread and no offense / critisism is intended. I just feel - based on my observations - that at one time the ZLR worked.

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Do not feed the trolls, the trolls live off negativity.

 

Until a few months ago the currency futures were not spiking a lot. Today we read about "trades being busted".

Just wondering if it is caused by all these traders in woodies room jumping on the bandwagon of trading the Euro with front ends that automatically places stops? Strange coincidence of the timing there....

Yeah, we should not forget that currencies trend well and are easy to trade. :eek:

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Do not feed the trolls, the trolls live off negativity.

 

I used to be in woodie's room on paltalk a long time ago and I would agree with you that ZLR's were definitely easier then, but I still think it's not the most efficient way to use the CCI.

 

andrij,

Your post is a detailed resume of the room and I cannot disagree with its content.

The thing I found most difficult to accept, was not the personalities involved nor the fanatical acceptance of cci as the worlds only valid indicator - after all we have an on/off switch and can ignore anyone we chose - it was the hypocrisy involved and the lack of any avenue for dissenting opinion other than withdrawal from the room.

The fact that esignal is currently promoted so blatantly leads any intelligent person to question whether some people are benefitting financially despite the famous no soliciting rule. I realise that someone may point out that Make a Wish is benefitting too but this is minimal compared to the increased profits for esignal.

 

Dax

What would be the most efficient way to use the cci?