I use cci bit I use along with price, and I use tick and volume charts. It works great and is the onlynindicator that I use. Yes, i can just use the price, but cci gives me a clearer picture.
yes volume and tickcharts are important - CCI signals will not work without the momentum that is indicated by the vol and tick charts.
LOL Woodies CCI room is priced perfectly. Spend 6 months in the room papertrading and you will come away a better trader for it. Will you make $ after that, not with the CCI stand alone but if you focus on price action and the CCI it's as good / bad as any other indicator out there.
Precisely. CCI is a momentum indicator, so its accuracy increases dramatically on tick and volume charts. The reason why I use CCI is because just looking at price bars is not as clear as looking at price bars along with CCI which smoothes the moves. Being intra day trader, decision speed is of great importance to me. I have tried trading without CCI, and it took me on average of 5-10 seconds longer to make a decision, and 5-10 seconds could be a factor between great entry/exit price or not. I am also working on developing my own pattern, which so far works great. Once I get all nuts and bolts, I will post it here.
If you use more than one time frame the CCI Indicator could be used to generate consistently profitable trades. JJ
I use 1 time frame per market. However, I use volume chart on DAX and tick chart on Heng Sang. I mostly trade Hang Seng right now.
If the aim is to exploit a particular futures market you prefer to trade in, use the day session from open until EOD by just revolving your position as you go from net long to net short with each upswing and downswing as they follow each other in sequence and the CCI can be adapted to help you do that.
Dear traders, I came across Woodies system and wanted to know wether his system works or not. Therefore i have started a blog to record all my zlr papertrades. I use the dutch AEX index. Every day a article with chart is posted with entry and exit signals. After each week i post a list of all trades in that week/month First of all i have posted the conditions in my blog under which i trade. I trade woodies zlr pattern according to his rules. I also defined the exits and stops. And last but not least i declared not to trade in the last half hour of trading. Costs of a contract are 3 euro. The blog is in dutch but the charts must speak for themselves. For those interested (as i am myself) here is the link to the blog http://destarter.beloggen.nl/pages/ Greetings
Woodie makes money because he is a crafty old trader, most of his followers don't Woodie is what Jack Hershey is if Hershey could trade
That's a to easy answer in my opinion. Woodie provides a clear set of rules. If the rules work we must end-up with profit. Therefore i started a papertrade blog containing his rules. The figures in the blog are rt market figures. Trades are taken as if it was RT-trading. I have nothing to gain or loose with my blog, i am just curious after being in his trading room, reading his documents and this thread. The stats will provide the answer whether its a crap system or not. Grtz De starter