Woodie's CCI exposed by former moderator

Discussion in 'Technical Analysis' started by silvermotion, Apr 17, 2008.

  1. mplay was one of the big ones.

    A lot of the old good moderators from woodiecci like snowman, rev, mike winfrey, are hanging out at the www.pulselinetrader.com room
  2. Kool-Aid?

    Actually I always found the CCI to be an interesting indicator but the room and Woodie to be insufferable.

    Obviously the guy is a promoter.

    Are people claiming that none of it works?
  3. CCI is a great indicator, that is, if it is used properly. CCI helps to interpret price action.

    Just realized that all this Woodie bashing is going on, I have not been visiting his site for a while. Too bad, he shows a good path, which will need to be modified by each person who wants to follow it, but too many are just expecting everything on silver platter.

  4. Agreed.
  5. CCI :p

    Hs Ls :D

  6. Yes. There are plenty of reasons to go off Woodie but the CCI (there is no "Woodies CCI" it's just a standard CCI) is as good as any indicator and better than many.

    One could easily substitute a price chart with a 14 sma on it and learn more though.
  7. "works on all timeframes and all markets, including futures, stocks,and Forex."

    Classic promoter line, after all, why restrict the size of the potential market?
  8. The thing is though ... if its a general strategy then it does work on all of those things. Its only complicated or extra-clever edges that are market specific.

    Sure you might have to find the right timeframe or make some trade choices but any pullback based technique for taking chunks out of trends will probably work on any market.
  9. How is CCI interpreting price action ?
  10. Hi Hombre,

    You do not really need any indicators to trade successfully. Price action, time&sales and market depth is all that is needed. However, indicator can help you to see price action patterns much quicker. The reason I use CCI it to be able to react faster.

    For example. There is CCI pattern that is called Famir (used to be called shamu). What this pattern means is the price originally rejected a level and then changed the direction again (looks like letter z turned 90%). I can see all of this just by looking at price action, but it is even more clearer with CCI, and I want to be able to analyze and react as fast as possible. I trade intra day with high frequency so quick decisions matter to me a lot.

    #10     Jun 2, 2008