been following his chat for couple of weeks. room extremely helpful and simple logic. wish i had heard about it $10k ago
Wdscott, I am in awe. It took you less than one trading session to totally digest and absorb all the of the information that is available about Woodies CCI method and form an opinion on it. You did this without asking me one question , even when I opened a private session chat with you to help you get oriented. Your lack of response during that session had me wondering how interested you really were in learning how to use the method profitablly. You summation is dotted with inaccuracies which I can understand as your exposure to all the issues was so short. But having given you the benefit of the doubt initially for taking the time to actually come in to the room, I can only say that you shortchanged yourself on the the possibilities for using the CCI and made yourself look a little foolish on some of the objective issues as your facts are just wrong. I use the CCI profitably every day in both trending and nontrending markets. There are patterns and signals for both instances, not just trending. Of course there are whipsaws, no signal is 100%. This is where you need to devote more than one trading session to develop your skills in recognizing the possibility of a failure and either not take the trade or get out with a small loss if in it. As I recall, your chart exercise had a couple trend line breaks, reg. divergence , in them which are counter trend, "low trending" day trades. The poster who commented on his lack of profitability is NOT an "experienced moderator". The CBOT training was a live web broadcast sponsered by the CBOT and was not training for CBOT traders. As the CCI patterns are not based on easily quantifiable numerical levels or triggers, it is very difficult if not impossible to back test using strictly analytical methods. I find it interesting that you use quotes from regular ET posters in your BAD section, but why didn't you then use quotes from regular HC/CCI posters in your post as well? The newly created "trading workshops" are not attended by 500 people. The limit on these will be 30 -50 people maximum. So the revenue will be 10 -12000.00 per session. There are room, lunch, t1 connection, airfare, hotel expenses to be paid. I don't think this is a profit making venture. The Esignal thing ( I don't use esignal) was a crusade led by one member which in my opinion has disrupted the room quite a bit. I don't think that there is any profit sharing being done, merely an effort by one individual. (Not Woodie) Just yesterday afternoon, there was a perfect, timely, reall time call and narration of a Vegas Trade long made by the moderator at the EOD in the Russell2000. This trade went for 3 pts on the first pulse and with a small pullback was ultimately a 7 pt winner. I am sure that you had completed your analysis by that time and were to busy writing your journal to have participated in that trade. To bad. I will again reiterate, if anyone is REALLY interested in finding out what this is all about, do as Dave did and come on in the room and listen and watch. Just don't do what Dave did and come in with a bias and poke around without asking any questions of an experenced member, and then just leave. That is hardly a way evalauate, or even come close to, learning a new system
Here it is....the Holy Grail of trading. It's so easy that you'll kick yourself for not thinking of it on your on. All you have to do is.............work your ass off everyday. I don't mean just show up and look at the screens. Really pay attention to what happens and why. Of course all this effort is pretty draining, especially if much of your attention is devoted to (pick one) defending/bashing on a thread such as this. Trading takes every bit of positive energy you can muster, wasting it in a fashion that detracts from the desired end result doesn't make a lot of sense. If a room like woodies isn't your cup of tea, fine. If it is, use it to full advantage. The hard truth is very few of the people that read this are going to be successful traders. That being said, don't load yourself down with excess baggage. Find a method that appeals to you and learn all you can about it in a positive manner. Don't make trading any harder than it already is.
is there ANY verification of 'woodies' trading success ? the supposed fact that he teaches at the CBOT is meaningless, particullarly when one looks at the other "guru" types they have hired in the past. this should not lend any credibility whatsoever, although it is misused as a credibility builder. take a look at the CBOT site--i am hypothesizing but it seems that it is even possible that the vendors listed have paid for the priveledge as a form of advertising. i did not see woodie listed anywhere on the CBOT site--- can someone direct me to the listing ? it is not woodie as a person that i have an issue with, it is the reverent following of an untested trading method and the quashing of alternative views, etc. that needs to be addressed in order to truly help. best, surfer
Chris (Croc) on this thread said he is not profitable- he was/is a moderator on woodies - is he not considered experienced? Blinky, another mod., told me he was barely profitable (he might be now, that was a few months ago). No disrespect intended. Do you have any verifcation of your profitablity?
LOL :eek: :eek: :eek: wdscott your post is well taken but your observations are only half right. I came to the same conclusions myself after the first month in the room. BUT After a friend of mine stuck with it and is now profitable, I can tell you the comments and responses to your post are correct. He kept encouraging me not to give up on it but like you I just said it was not for me. Since he turned profitable back in December he has not looked back with consecutive days and weeks and now months. Will this continue? I don't know. The point is it cost him zippo except for 6 months of time in a room and effort and energy before that we meet after we both paid $500 for a seminar run by some chump on paltalk that we both lost about $1000.00 trading with. So I don't know how many times I have to say this but I will try it once more. WOODIE DOES MORE GOOD THAN BAD and unless you know of a better way or you are in a position to help others as much as he is at least trying to. I think the man deserves his due, SOME RESPECT FOR HIS EFFORT. This is my last post on this thread, I wish everyone well and good trading.
The only problem, Samson, is that your friend probably believes that all of this has something do with CCI, and CCI is the least important factor in his progress.
drbob great post I am new to this room and have been following the thread . I would like to add what I have observed my 1st week in woodies room my only regret is that I had not discovered it sooner. I have looked at a lot of things the past two years and this room is the only one that has excited me as to the value that it represents and the quality of people in here. I do not see how anyone can make a judgement on anything without giving it a fair chance to evaluate it and that would in mho require at least a one month minimum time frame.