Woodies CCI

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Originally posted by NinjaSnipe

WoodiesCCI - I can not report on this site! Why? I've tried to login with their TalksLive client 4 times now. It seems to be the most buggy chat software on the planet. I've received a wide variety of errors and never actually got in the room. Maybe their site is just too overloaded. This may be a great site!! I can not find out however.

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Original thread started by NinjaSnipe. This thread started to discuss Woodies CCI by itself. Does anybody have a link to the official Woodies CCI site?

woodie is a joke.....I spent a couple of years in that room and discovered that it is the absolute way NOT to trade. You have to be ludicrous to think that you can successfully trade almost every wiggle of the CCI indicator...

...one of the moderators...cathy....had to go and get a job

..in addition, most of the moderators are amateurs...anyone can get on the "mic", which means that it is the "blind leading the blind."

Most people go to his room because it is free, but you get what you pay for.

I went into the room for 1 to 3 days about 2 years ago. Can't remember who the moderator was but at that time he managed to pull off a couple of profitable trades. I think that he used a set-up called a Shamu.

You say that you were in the room for a "couple" of years - that's a long time. What are the best and worse things about the room? Perhaps the pros and the cons? Also, what level trader would benefit from the room? For example, would a complete novice be able to learn something there or is it better suited for someone with some trading knowledge?

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I went into the room for 1 to 3 days about 2 years ago. Can't remember who the moderator was but at that time he managed to pull off a couple of profitable trades. I think that he used a set-up called a Shamu.

You say that you were in the room for a "couple" of years - that's a long time. What are the best and worse things about the room? Perhaps the pros and the cons? Also, what level trader would benefit from the room? For example, would a complete novice be able to learn something there or is it better suited for someone with some trading knowledge?

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Daytrading..I personally think that the strategy is flawed by it's very nature....it's very difficult for a strategy that relies on indicators to consistently profit from daytrading the futures markets. There was only one moderator that I know of that was able to trade the CCI profitable (his name was rover45)...but he's no longer there...

I don't think that anyone knows for sure whether woodie can profitably trade the system...everyone just ASSUMES he can because he developed the room and the trading methods...but you have to ask yourself...when does woodie find time to trade if he's always moderating or travelling/hosting a "trade-a-long". I suspect that he may make most of his money from the trade-a-longs or from esignal endorsements...it may be a case of the emperor has no clothes. Woodie does not post any results of trades that "he actually took" in real-time.

The pros is that he has a lot of free information about trading psychology on his website (even a very valuable seminar from mark douglas), the con is that too many amateurs are allowed to moderate which is simply the "blind leading the blind."

Another con is that you can waste valuable time (i.e., years) trying to trade the cci method because you simply didn't want to pay any tuition to a real trading mentor that can substantiate trading claims with proof.

I would only recommend woodies site as leisure reading.

Thanks youknowwho. That's a good summary of the plus and minus points of going the woodie route. I was just trying to find some links to Woodies CCI in case anybody reading this wants to find further info. So far I have found a page on NQoo's web site: http://www.trading-naked.com/Woodie.htm and also what I assume is the official Woodie web site: http://www.woodiescciclub.com/

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Originally posted by youknowwho

There was only one moderator that I know of that was able to trade the CCI profitable (his name was rover45)...but he's no longer there...

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Do you know where he is now? It would be interesting to talk to him.

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Originally posted by elite trader

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Originally posted by youknowwho

There was only one moderator that I know of that was able to trade the CCI profitable (his name was rover45)...but he's no longer there...

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Do you know where he is now? It would be interesting to talk to him.

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I have not been able to find out where rover45 has gone...you may want to ask one of the moderators in the cci room..but they can be downright defensive sometimes...

After I asked the question I went on a Yahoo, Google, MSN search engine rampage and found a couple of references to him on sierracharts and also on woodiescciclub but otherwise he has gone. I am guessing that he has bought a tropical island and retired there with his profits.

I see that Ken (Woodie) Wood was in Toronto, O/N yesterday and today doing a Trade Along. Did anybody go to this? If so, what did you think of it? What was it like?

I like the idea of taking your laptop to a presentation and hearing about all the theory on the Sunday and then put it into practise on the Monday in the live market. Sounds like a great way to learn.

I believe that he's going to be doing one in Las Vegas soon but I don't have the details for that. When I get them I'll post them here.

To anyone considering Woodie's CCI methods..

Please read this from a former Woodie's Moderator:

http://www.mplayoptions.com/cci-monkeys.html

The last sentence of the first para on that page is the most important: With all the thousands of traders from around the world that I have know here at the CCI Club, not one has shown to be profitable with this basic CCI, NOT EVEN Woodie.

Assuming that what is being written on that site is accurate...