Not really. With the dutch, the charts are mostly useless t speakers of other languages unless you are already a diehard WCCI user.
I doubt Woodie makes much money trading. After listening to his room for awhile it becomes obvious that neither Woodie nor any of his moderators are profitable traders using "Woodie" signals the way he explains them in the room. Does Woodie make money? Probably from his trade alongs. Are Woodies P&L on his forum truthful? NO. The trades are cherry picked after the fact. ie: If a trade was a loser, Woodie would explain that he didn't take it. If the trade was a winner, but not announced "live" in the room, Woodie would say, "some members took it, so we'll count it". You now see someone continuing the P&L who puts trades on that are definitely violating Woodies rules, so the P&L is basically a fraud. Will you learn some things from Woodie's patterns? Yes. Can you just follow those rules and make money? I have NEVER heard of anyone doing so. Can you modify his patterns and money management to make money? I believe you can, but there are better ways to scalp the ER. I found Woodies room to be full of people who knew very little about scalping, but were able to impress those that knew even less than they did (ie: the blind leading the blinderer).
Question's on woodie I was in his room many years ago, and still stop in and see if there are any changes, same as ever. I really like Woodie and what he tries to do, but most of his success comes from money management he him self has proven that do some of the signals work ( yes ) they do you can not ignore that but add that to his money management and his psychology and you can do ok, are there better systems out there ( yes ) and when you combine his or any other system or signal trade with time of day you can really get a great system you can count on, I feel if you need to get some good money management ideas or general psychology, Woodies room is really good for anyone who trades. I am doing short videos on what I see in the markets and setups I use on you tube, it is free like woodies so stop on by I just started doing them and have had many positive comments from traders. Remember we don't all trade the same I am not sure any two of us trade the same that is why the markets are so complex but I am going to add many videos on different styles of trading some of you will find interesting some will find not so. ok guys be careful out there Always remember Futures and Options are Zero Sum http://www.youtube.com/profile?user=TradePilotPro Joe B.
trading, realtime results on one contract basis for last couple of years, using CCI. Cash indices used, since futures contracts on Freecharts.com do not go back very far... 60 day CCI on cash index of: - S&P (loses $62,000 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=SPY0&sig=12 - Nasdaq (loses $14,700 on one contract) http://freecharts.com/Commodities.aspx?page=perform&sym=NDY0&sig=12 - Dow (loses $1600 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=DJY0&sig=12 40 day CCI on cash index of: - S&P (loses $41,000 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=SPY0&sig=08 - Nasdaq (makes $3300 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=NDY0&sig=08 - Dow (loses $5300 on one contract basis) http://freecharts.com/Commodities.aspx?page=perform&sym=DJY0&sig=08 Only 1 of 6 turns a minor profit. The rest range from losses to massive losses. So, why is the CCI so promising???
WOW, those are really big losses, I never followed woodies room that close just listened to him when I was bored for background chat to keep me company when I trade, just wanted to say I just thought he had good money management and generally good market psychology. I will hold on his CCI for a main indicator Joe.B
Not true. The fees for TALs are very small about $500 for 3 days. They go towards paying for conference set up and whatever is left goes to Make a Wish foundation.
You might want to check with Woodie on this. He made it very clear that expenses were taken out, including all of his expenses, whatever he might consider those to be. I remember a group from another country inviting him to a "trade a long" in their city and his response was "Why not, if you're willing to bring my wife and I over, we'll come, how can you turn down a free vacation?".
CCI is a very good indicator. I tweaked the system and the results are great. I do use the price and use CCI on volume bars. The main purpose of CCI for me is to smooth the price action, that is just looking at price it takes longer to make a decision where CCI represents a smoothed version which is easier to interpret.
That very well may be. But he does not charge for any of his time or room on his website. When he comes over I do not think it is a problem for him to be reimbursed for his tickets and hotel room.
If you look at the excell screen in the following link, then you can see the results till now. The picture can be opened by pressing the red paperclip next to the big title "ZLR trades oktober 2007 week 1 en week 2"" I will post the link in here every new week. http://destarter.beloggen.nl/pages/Topic.aspx?Id=3436 The results must be readable