[brownsfan019]

Originally Posted by gg80108 »

Even the Browns can beat the odds and superbowl champs, once in a while,, but thats not how the smart money bets!

A great win for the Browns.

Now go find somewhere else to find some other losers to talk to.

[brownsfan019]

Originally Posted by BlowFish »

I didn't get the impression he was "mad and upset" I am not sure how you did. The figures for success, failure and scraping by, are much the same as for any other business. In that regard there is nothing 'special' about trading.

I wonder if a steady stream of small retail traders are needed to provide us with counter parties? For example when a hedge fund runs its self from many billions into liquidation that provides lots of food for many us? Just a thought that occurred to me whilst typing this. Mind you I don't buy into this 'the big guys win and the small guys lose' idea. The commitment of traders report would suggest otherwise. This is the opposite side of the that particular coin and is also hyperbole.

I am surprised DB nominated it when he usually takes a hard line against hyperbole and rhetoric.

You don't sense any bitterness here BF? Why else would this person find this thread and start posting his rubbish?

He's pissed and looking to bring others down w/ him. That simple.

He wants reassurance that his opinion that the market is rigged and a big gamble is correct, but he's not finding that here. He's looking for other small-minded thinkers to reinforce what he has learned himself. He's looking for someone out there to chime in and say - yes, this is not a fair game and Las Vegas lays better odds.

[brevco]

Woodies CCI technique is like any other technique. They all work.....but you have to follow the rules and be consistent and disciplined. That is the key.

Have a trading plan.....not in your head, but on paper....and follow it to the letter.

There is no holy grail in trading. As traders, we have to realize and accept the fact that we will have losers, but as you become more experienced (consistent), your winners will out number your losers.

It is important to find a trading style that matches your personality. If you are a buy and hold person, then scalping definitely isn't for you. I've used Woodies cci to trade longer term (options), and it works well there too.

I agree that sometimes Woodie can be a bit stern, but his website, chat, and technique is offered for free. I stopped logging on to the chatroom because I find it distracting at times. Let's face it, trading can get really boring, especially when the market is slow. But, I learned a lot just from listening to radio Woodie. Learning to recogize the patterns was a big step in the right direction for me.

I use the patterns to help me find a trade setup, but I have also combined the patterns with other things to confirm before entering, and it works for me.

Technical analysis can be very addicting. As a beginner, I probably tried every indicator out there, and what I've found is they all tell you the same thing. It is a matter of learning to TRUST what you see and "own" it....then once you are comfortable, use it, but use it wisely, follow your trading plan.

If anyone else uses CCI to trade and would like to share "other ways" they use it to trade successfully, I would welcome your comments....perhaps we could start another thread....

[sevensa]

Originally Posted by brevco »

Woodies CCI technique is like any other technique. They all work.....but you have to follow the rules and be consistent and disciplined. That is the key.

I can't say that I agree with this. Not all techniques work and if your technique is not profitable, you can follow the rules and be as consistent as you like, but you will still lose money. Consistently so.

There is no holy grail in trading. As traders, we have to realize and accept the fact that we will have losers, but as you become more experienced (consistent), your winners will out number your losers.

There are many profitable techniques with more losers than winners and becoming more experienced is not going to change that. Having more experience will just help you accept that and realize that being profitable is more important than being right more than you are wrong.

[spcul8r]

Nvesta,

The best part of Woodies CCI Club is that it introduces people to CCI who may not have heard of it before. Having said that, CCI is an indicator and all indicators by their mathematical nature are derivatives of price. They are variables based on price and therefore cannot lead price. In my experience CCI like most other indicators that oscillate can be usefull as either confirmation tools of what price is doing or can sometimes be used as a divergence tool when chart formations occur at key levels, i.e. double tops and bottoms. They can also be helpful to identify possible over bought/over sold conditions in a trading range. But as Walter mentioned, you have to see price in order to gauge proper supply and demand levels. When price revisits a prior s/d zone CCi can be a useful to look at for shifts in momentum that may confirm a reversal of current price direction. Changes in momentum will often precede price action but not lead prices themselves. Just looking at an indicator CCi or any other indicator for that matter, independent of price is not good advice for a new trader in my opinion. The master traders of yester year all looked at price charts or read the tape, not CCi.

Best of luck in your trading.

Cheers,

Spcul8r

[januson]

Let me tease you a little... Would a system only be profitable if you were the first to enter/ exit at the right moment? OR could you wait for others to lead the way?

spcul8r -> Isn't tape reading lagging?

[spcul8r]

Januson, you ask a rhetorical question mate. I must defer to Occam's razor, "Pluralitas non est ponenda sine necessitate"

[DaKine]

From what I understand Woodie does not trade he just herds the sheep... Here is a link that may provide some insight look under Guru Crapola

I do believe CCI can be used to enter trades but I think you have to look at the triggers hand in hand with s/r and not take every signal that fires.