My friend trades nimbly, seeking +5pt NQ gains using -2.5pt initial stops... sometimes exits for +2.5pts or even +1pt on the lot. He turns 10 - 20 contracts at a time with nil slippage. The NQ has roughly twice volume - open interest as ER, and it also has the most straight-line movement with least back & fill of all minis. ES is the worst for back & fill on a short-term basis. At 50 NQ contracts, the entire lot fill would span about 1/2 point to 3/4s of a point during low volume periods... such as now. That would take many of the +5pt gains to +4pts, many of the scratched stops or stop & reverse to small losses. Could probably average +10pts NQ on fifty contracts. Add contracts, reduce average points. * I prefer the ER out of familiarity over time, and I am not a frenetic scalper. I do know that 20 ER contracts right now seldom fills smaller than 2-tick span. That is no big deal to me, but makes a difference to "scalpers". The ES has plenty of liquidity, but takes a yeoman effort to average +1pt daily due to dead range, sideways chop, extreme backing & filling between swings. That's probably why Woodie switched to ER, as have many other retail traders.
Somehow, an internet chat room guru giving away a "sure fire" trading system out of the generosity of his heart doesn't quite work for me... But like I said earlier, if you want to use his system head on over. If you do let us know how it works out for you.
I don't care if woodie and his cult following win or lose in their trading; my guess is they lose more then win. I was in his room back when it was a room where traders could share ideas freely. I actually learned a thing or two. As for the CCI and his method, I'd stay away. There is so much more to understand about the market that will give a trader a high degree of confidence. Staying there will only lengthen your learning curve. Learn how to read price and what drives it, it's king. Price shouldn't scare you, it's valuable information. I can't imagine being in this game for 25+yrs and only having the CCI to show for it.
I'll match your 3 flavors -- but won't post the link -- to a site that offers trading rooms run by moderators named Lightening, Thunder, and Hurricane.
LOL. He was never a salesman. If you think that you haven't listened to him. He was (and may still be) an individual trader who could (can?) make what he does work. Can others? Read Brett Steenbarger's new book and you'll realize that everyone won't be satisfied by the same method.
Well, Someone figured out the game plan, booted the old moderators and the old timers, brought in the new ones, set up and maintains the website, cut the deal with esignal, set up the trade-alongs, etc... if not Woodie who then is the power behind the throne?