Woodie is getting old and deranged. His diabetes has set in pretty severely, and it shows in how much patience he has in his "trading room", which is more like a bunch of idiots repeating verbatim his .pdf doc, and shutting down any questions that "deviate" from the "system". In the last year, Woodie has also actively banned any volunteer mods that even MENTION other techniques, or even different settings than his default settings, in his room. I'm good friends with Nate in real life, who used to be one of his most popular mods, because he'd throw out bits of advice in addition to the CCI to help people in there have at least a fighting chance when trying to identify every little jerk in the CCI as a "zlr". Woodie doesn't even trade futures himself, the only trading he does these days is a bit of options trading. Go into his room sometime if you want to feel what it's like to actually get stupider, and listen to him during market hours for a week. He'll "make a call" and then go back on it and claim he never said it was a clean entry when it reverses back on him at least 2-3 times a week, the rest of the time he just makes his "calls" after the position has moved in his favor 4-5 points, then if it reverses claim that you need to work on your exits. In addition, his patterns are not "his patterns". They're general patterns that show up in almost ANY faster momentum oscillator, and have been around for years. Also, if you compare his .efs for eSignal to a standard CCI set to HLC/3 you can see that he fucked with the standard deviation used in calculating the CCI to create a minor lag, which is fucked up in my opinion since he doesn't disclose that. I don't have anything against Woodie personally, in fact I think it's "social darwinism" at its best. People who follow Woodie's system will go broke trading futures intraday. Nate used to get tons of emails from people who went busto and were desperate for some kind of "coaching". In short, there's some validity to the "patterns" Woodie claims are his, but by no means are they a complete trading system. Woodie is a douchebag, and arrogant to boot. I was permabanned from his chatroom for talking about looking at Time & Sales data on the Russell index futures, because it was "not a valid part of trading and not part of the system, and I was leading people in the wrong direction away from profitability." Heh.
Well, yeah, so you admit that none of those guys trading over there and saying they make money just trading CCI patterns are telling the truth? You're talking about the CCI as an indicator, we're talking about Woodie's CCI System. You used to trade with these guys, so don't act like you don't know the difference. No it is not! These people say this is all you have to do to make money trading. Stupid people follow them. Most I don't feel bad for, but I do remember hearing the story of an old Grandma in there named Nicker or something like that, she just kept bleeding money off for a very long time in there because she was conned by these bozos into believing that this is a successful trading method. It's a perfectly relevant question. And the answer is that it doesn't. No, that's not the question! These people are con artists.
And I'm looking at this big word document you wrote up here talking about all these CCI setups: http://www.trading-naked.com/CCI_and_Turbo_CCI_Tips_and_Nuances.doc Why didn't you disclose that none of this had an edge? Were you trying to mislead people? Why do you put edge in quotes? It's something quantifiable if you know how to do math, so I don't know why it gets the quotes. Do you even know what I'm talking about?
i think probably at the time you wrote that you were actually drinking the kool-aid and believed in that stuff. pls address the post i wrote above yours
I need a yes or no answer. I will ask it one more time. Do you think Im trying to deceive people? Yes or No? It's that's simple. Then I will address what I want to address with whom I want to address it. Goinglite
Right now I think you're definitely being shady by equivocating CCI- the indicator and CCI trading all you need to make money as taught by woodie. When you wrote that document it was 4 years ago and you really thought you were detailing a winning system. Of course, you now know that you weren't because you don't trade Woodie's Magic System anymore. You were arguing against a straw man above and you know that. No one claimed that the CCI as an indicator is totally 100% useless. What was being argued was that the Woodie CCI System as taught does not have any kind of edge and, contrary to what those liars repeatedly claim, someone trading that and that alone will not make money. So why put up a strawman like that? Are you still buddy/buddy with the Woodster?
I had a look at the posted video link & IMO Woodie's CCI doesn't do anything that a regular RSI/CCI/MACD/histogram wouldn't do. You basically observe a divergence formation between price and an oscillator. Sometimes it will work, sometimes it won't. Don't expect miracles, but then again no other indicator will be better or worse on average. Everything is dependant upon a trader's ability to identify patterns, manage risk & have appropriate reward/risk ratios. So it's pointless showing examples of moving averages or any other indicator as a better alternative to get you into a trade earlier.