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When I was first learning how to trade futures, I would visit Woodie's online site to learn some techniques. What I liked about it is they had live real time charts with commentary. It's a good place to get started. That being said, CCI is no better or worse than any other TA indicator contrary to Woodie and his followers. It is not a leading indicator as Woodie would like to believe. Woodie basically has some CCI pattern recognition entries, that win as often as they lose. So be careful. If you use them, try it in simulation mode for a while and see how you do. |
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Yeah no doubt, I'm not trading real money on this yet. Just getting screen time and exploring different 'ideas'. I have been keeping an eye on the
VWAP and
PVP as well, along with market profile concepts, pivot points etc. Also seeing if I can tape read. A lot to absorb as a new trader
. The thing about Woodies that I like it is seems to be very simple, but like you said, I will not put all my faith in one single thing...
I still haven't figured out how to add the
VWAP SD to my chart package, I use Amibroker, so I'll be searching for that later...
Good luck trading everybody, interesting sell off we had today.