Woodies CCI technique.

[Nvesta81]

I'm new to futures and I have been exploring many different setups/techniques to use, one of which is the Woodie CCI setups. I find it very strange that this seems to work without paying attention to the price chart or key levels at all -- today I was following it along with their radio host calling plays and it caught a few good moves in the YM (that's the market I was paying attention to most, I could hear them call plays in other markets). I guess I'm just curious and wondering what some of you more seasoned traders think of this method, do you think it's bogus to ignore the price chart completely?

I'm really intrigued by this method. It seemed to work from my perspective but I'm too new to form a valid opinion.

Thanks.

[jperl]

Originally Posted by Unleashed I'm new to futures and I have been exploring many different setups/techniques to use, one of which is the Woodie CCI setups. I find it very strange that this seems to work without paying attention to the price chart or key levels at all -- today I was following it along with their radio host calling plays and it caught a few good moves in the YM (that's the market I was paying attention to most, I could hear them call plays in other markets). I guess I'm just curious and wondering what some of you more seasoned traders think of this method, do you think it's bogus to ignore the price chart completely? I'm really intrigued by this method. It seemed to work from my perspective but I'm too new to form a valid opinion. Thanks.

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.

[Nvesta81]

Originally Posted by jperl 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.

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.

[Soultrader]

Originally Posted by Unleashed 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.

Yea seriously... I just woke up (5:50am here) and turned on my S&P charts. WOW! Almost a 30 pt decline eh? Tokyo should be interesting today.:wohoo:

[namstrader]

I spent several months with the Woodie group and the simplicity was very intoxicating. I studied the many setups and learned quite abit. The thing that was so useful for me was that many other questions where answered for me by the other helpful traders. I began to have a foundation to sit upon by learning from the cci group. Then the politics and egos began to emerge and get to me after perhaps 5 months. It seemed to contaminate my progress and instead of being a follower, I said goodbye and knew it was up to me, and not relying on group identification. What I learned from Woodies cci club was about another indicator to use and still do. I use the indicator now with my own way of interpreting it rather than theirs. It is amazing how the cci group has a name for each setup like a shamu or zlr and when one setup fails, the opposite way trade has another name that is successful. I am in debt to those like Nicktrader and Kiwi who shared their knowledge with us all with such kindness. It had a very useful effect on me as a trader, however, cutting the strings eventually was necessary because to make it as a trader you must trust your own way of thinking instead of watching others. It was amazing how traders like Nicktrader, was making so much, while others could not (me included) using the same methods taught. He was a better carpenter with the same toolbox of cci setups taught. So go to the Woodie CCI club and eat the meat and spit out the bones. I do not identify with a herd, never did.

[walterw]

Originally Posted by namstrader I spent several months with the Woodie group and the simplicity was very intoxicating. I studied the many setups and learned quite abit. The thing that was so useful for me was that many other questions where answered for me by the other helpful traders. I began to have a foundation to sit upon by learning from the cci group. Then the politics and egos began to emerge and get to me after perhaps 5 months. It seemed to contaminate my progress and instead of being a follower, I said goodbye and knew it was up to me, and not relying on group identification. What I learned from Woodies cci club was about another indicator to use and still do. I use the indicator now with my own way of interpreting it rather than theirs. It is amazing how the cci group has a name for each setup like a shamu or zlr and when one setup fails, the opposite way trade has another name that is successful. I am in debt to those like Nicktrader and Kiwi who shared their knowledge with us all with such kindness. It had a very useful effect on me as a trader, however, cutting the strings eventually was necessary because to make it as a trader you must trust your own way of thinking instead of watching others. It was amazing how traders like Nicktrader, was making so much, while others could not (me included) using the same methods taught. He was a better carpenter with the same toolbox of cci setups taught. So go to the Woodie CCI club and eat the meat and spit out the bones. I do not identify with a herd, never did.

Nam, I had just about the same experience like you... and CCI is a powerful indicator, but I knew I had to learn what was happening on the price pane S&R , price action etc... so I also did open myself to new frontiers and I carry the good part of CCI timing methods that so far I believe they are very easy and straightforward... now understanding price action has been so reliefing... at woodies club they trade blinded about whats really happening on the price pane and I knew that was not a good path... happy to share some very similar experience with you... cheers Walter.

[ANDREUA]

Hi guys. I have been trading WCCI for about 2 and half years. It takes much time to obtain all nuances, what should be taken and what signal should be skipped, but at the end it was worth it. CCI shows very good price activity and could be used another way then Woodie CCI classic methods.
WCCI community is very friendly and good place to start learning markets. But I must admit that the politics of community constrain sharing thoughts about using CCI, many good trades gone or dont share their ideas anymore on site.

[walterw]

Originally Posted by ANDREUA Hi guys. I have been trading WCCI for about 2 and half years. It takes much time to obtain all nuances, what should be taken and what signal should be skipped, but at the end it was worth it. CCI shows very good price activity and could be used another way then Woodie CCI classic methods. WCCI community is very friendly and good place to start learning markets. But I must admit that the politics of community constrain sharing thoughts about using CCI, many good trades gone or dont share their ideas anymore on site.

yes unfortunately Woodie is a kind of closed guy... you can not do your own research and interact with that comunity... many good guys like Dr Bob had to open their own site... (now they are as closed as woodie on their site too )...

[Cogniato]

Unl,
I peek in at the WCCI occassionally over more than 4 yrs. Very good, IF you combine it with internal analysis. The russell 3min chart trendline breakout of lows is extraordinarily profitable (that means GOLD) , IF you combine it with a turn up of market internals, i.e. advance/decline net avg, NYSE Tick avg upturn, Premium upturn, etc. Major moves. Just be patiant and take these trades only, like a hunter in a blind waitng for a dead-on shot. Try it and see.

regards,
Cogniato.

[hanz]

hence is it a system worth learning?