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daily woodies cci

  • #1
  • First Post: Apr 14, 2007 9:31am Apr 14, 2007 9:31am
I was just wondering if anyone successfully trades spot currencies using woodies cci or any variation of it, based on daily candles? By successfully I mean at least several months of consistent profits.
If so, and you would be willing to share, it would be really great. Maybe you know the place where such disscussion takes place?

Thanks.
  • #2
  • Apr 14, 2007 9:40am Apr 14, 2007 9:40am
Try this site........http://www.forexheaven.com/woodies-cci.html or this one http://www.woodiescciclub.com/start.htm
Same Whore .... Different Dress
  • #3
  • Apr 14, 2007 10:13am Apr 14, 2007 10:13am
Akuma99 uses CCI in his Not So Squeezy system. Not exactly Woodies style, but it is a CCI trigger and works on the daily charts.
  • #4
  • Apr 14, 2007 12:47pm Apr 14, 2007 12:47pm
thanks guys, i will check them out
  • #5
  • Apr 14, 2007 4:24pm Apr 14, 2007 4:24pm
don't go with woodies cci. it sounds interesting but isn't really profitable.
  • #6
  • Apr 14, 2007 4:35pm Apr 14, 2007 4:35pm
Quoting piccolo
don't go with woodies cci. it sounds interesting but isn't really profitable.
hi piccolo, just out of curiosity: i remember you went for vegas signals last year. was or is it profitable for you?

it looks now for me that almost any system is selectively profitable, which means some people are making money with it, while others are loosing. The question is to find what fits you personally. i am still looking for my system. the only thing i decided for now it will be based on daily candles to start with.

it looks like a high percentage of those who believe in woodies cci are claming they successfully trade it, that is why i am asking. Unfortunately most people use shorter time frames.
  • #7
  • Apr 14, 2007 4:39pm Apr 14, 2007 4:39pm
Quoting piccolo
don't go with woodies cci. it sounds interesting but isn't really profitable.
For some people no system will be profitable.....................
Same Whore .... Different Dress
  • #8
  • Apr 14, 2007 7:23pm Apr 14, 2007 7:23pm
Quoting johnedoe
For some people no system will be profitable.....................
thanks johndoe, i checked the sites you suggested. i have been there before, and did not find any daily related disscussions. in a way i don't want to join any of woodies sites directly, it became a religion, so people there are biased. that's is why i am looking for answers here, in ff, kind of outside of woodies mainstream.
  • #9
  • Apr 14, 2007 7:57pm Apr 14, 2007 7:57pm
cci = ma = losing
The breaking of a wave cannot explain the whole sea.
  • #10
  • Apr 14, 2007 10:45pm Apr 14, 2007 10:45pm
Quoting Craig
cci = ma = losing
Like all indicators, that depends on how you use it. Yes, I've tried Woodie's CCI system. No, I don't think it's a very good system. It's mainly for scalping. I don't like scalping. Even if you don't scalp and use longer term charts, it isn't really that profitable, because it takes nothing into account except the movement of the CCI. The systems by Dr. Bob and Akuma (who has cancer and is undergoing chemotherapy and isn't posting currently) work much better and can be used on longer term charts profitably. The CCI can act as confirmation and reference for the price action that you see on the chart. Sometimes it demonstrates divergences, which are not readily visible to the eye. Other times it provides a handy reference for trend. It does after all measure the difference between two moving averages. When moving averages diverge, you have a trend. Thus like everything else it has it's strengths and weaknesses. That said I will admit that I don't use it at all. To be honest I pay very little attention to indicators period other than for reference and confirmation, but used properly they can help you trade profitably.
  • #11
  • Apr 14, 2007 11:28pm Apr 14, 2007 11:28pm
Quoting zzz
thanks johndoe, i checked the sites you suggested. i have been there before, and did not find any daily related disscussions. in a way i don't want to join any of woodies sites directly, it became a religion, so people there are biased. that's is why i am looking for answers here, in ff, kind of outside of woodies mainstream.
I can undersand your sentiment.....It has turned into a sort of cult....
Same Whore .... Different Dress
  • #12
  • Apr 16, 2007 1:47am Apr 16, 2007 1:47am
Quoting johnedoe
For some people no system will be profitable.....................
if it depends on the trader then its not a good system.

you can put on a single MA and trade profitably and call it a system.
  • #13
  • Apr 16, 2007 1:49am Apr 16, 2007 1:49am
Quoting zzz
hi piccolo, just out of curiosity: i remember you went for vegas signals last year. was or is it profitable for you?

it looks now for me that almost any system is selectively profitable, which means some people are making money with it, while others are loosing. The question is to find what fits you personally. i am still looking for my system. the only thing i decided for now it will be based on daily candles to start with.

it looks like a high percentage of those who believe in woodies cci are claming they successfully trade it, that is why i am asking. Unfortunately most people use shorter time frames.
In the beginning I was a fan of Vegas methods but never managed to develop it into a system. I never subscribed to his signals, tho.
  • #14
  • Apr 16, 2007 2:14am Apr 16, 2007 2:14am
check out the woodies cci for yourself. If it doesn't work for you you may get some ideas for developing something that does work for you which is the ultimate goal anyways. It only takes a small amount of backtesting to determine if it is worth your time, do the work and learn something.
  • #15
  • Apr 16, 2007 7:46am Apr 16, 2007 7:46am
Quoting cipher4d
check out the woodies cci for yourself. If it doesn't work for you may get some ideas for developing something that does work for you which is the ultimate goal anyways. It only takes a small amount of backtesting to determine if it is worth your time, do the work and learn something.


thanks cipher, that is exactly what i am going to do. i just wanted to clarify before going once again seriously into something what is available.

i still cannot explain it to myself how it all works: i tried a bunch of systems, including from ff, which presumably work for others and it did not work for me.
i started to ignore the hype of those, involved in the discussions. i understand that very few of them are really and consistently making money.

maybe it is a good idea to somehow run statistics here, on ff, of how many people are actually making money by using any given system? of course there is no way to verify their claims, but still this would be some kind of a representation, assuming that the amount of liars will be roughly the same behind any system. if we add to this the timespan of their "success", that it would be at least some kind of a measurement of real effectiveness of any given system?

i can say, what i am looking for now is an effective system based on daily candles that works for high percentage of the believers. i would use this info to start with, and then would do my own in depth research.

say, i tried both, fozzy and vegas, and could not make them work for me. i did a bunch of other stuff, too - don't take me wrong, i do my part.

another thing that i don't like is what i found in the description of the turtles system, that i recently discovered:

first it did work and it is extremely simple, there is nothing there, from the point of view of all the intricacies of what is usually present in any system discussed here, on ff, for example.

second is that you have from somewhere to get a believe in the system to survive possible consecutive losses. normally, and this is what i was doing before, too, i was just dropping the first system and moving to the next one. how can i know that i have to stick to the system and a series of losses is just a part of a normal cycle? the huge advantage of turtles was that they had Richard Dennis behind them, they used his knowledge and confidence (and money, btw). still, they are talking about, possibly, a year or more of losses before they could hit it big. who can survive a year of losses still believing in the system?

i am beginning to suspect that this is the key issue to trading success, not the question of which ema is crossing which cci at such and such retracement.

so, anyone is consistently (say, several months minimum) making money with daily (possibly 4 hour based, but better daily) technically simple system discussed here, on ff? to me such claim would carry more weight here, outside of a main hype of any particular thread. if so, where can i find a fullest description? then, I will do my homework.

Thanks.
  • #16
  • Apr 16, 2007 8:31am Apr 16, 2007 8:31am
Quoting zzz


thanks cipher, that is exactly what i am going to do. i just wanted to clarify before going once again seriously into something what is available.

i still cannot explain it to myself how it all works: i tried a bunch of systems, including from ff, which presumably work for others and it did not work for me.
i started to ignore the hype of those, involved in the discussions. i understand that very few of them are really and consistently making money.

maybe it is a good idea to somehow run statistics here, on ff, of how many people are actually making money by using any given system? of course there is no way to verify their claims, but still this would be some kind of a representation, assuming that the amount of liars will be roughly the same behind any system. if we add to this the timespan of their "success", that it would be at least some kind of a measurement of real effectiveness of any given system?

i can say, what i am looking for now is an effective system based on daily candles that works for high percentage of the believers. i would use this info to start with, and then would do my own in depth research.

say, i tried both, fozzy and vegas, and could not make them work for me. i did a bunch of other stuff, too - don't take me wrong, i do my part.

another thing that i don't like is what i found in the description of the turtles system, that i recently discovered:

first it did work and it is extremely simple, there is nothing there, from the point of view of all the intricacies of what is usually present in any system discussed here, on ff, for example.

second is that you have from somewhere to get a believe in the system to survive possible consecutive losses. normally, and this is what i was doing before, too, i was just dropping the first system and moving to the next one. how can i know that i have to stick to the system and a series of losses is just a part of a normal cycle? the huge advantage of turtles was that they had Richard Dennis behind them, they used his knowledge and confidence (and money, btw). still, they are talking about, possibly, a year or more of losses before they could hit it big. who can survive a year of losses still believing in the system?

i am beginning to suspect that this is the key issue to trading success, not the question of which ema is crossing which cci at such and such retracement.

so, anyone is consistently (say, several months minimum) making money with daily (possibly 4 hour based, but better daily) technically simple system discussed here, on ff? to me such claim would carry more weight here, outside of a main hype of any particular thread. if so, where can i find a fullest description? then, I will do my homework.

Thanks.
Well, I made the same conclusions a while ago and I have stopped looking. Just doing my own thing with a couple of other traders but the best you can do while looking at all the available systems including turtles is:
understand them, what makes them work and what makes them loose. then when you have a list of what works and what not, when does that work and when something else you might come up with a system yourself.

I don't tolerate series of losses. In my mind it rings a bell that something is wrong, market has changed or I am doing something wrong..
  • #17
  • Dec 10, 2007 6:46pm Dec 10, 2007 6:46pm
I am investigating the Woodies Club. The best I can tell you is that I have seen it work. Woodie trades the Russell and the DAX and Gold etc. You can see the trade develop and its profit or loss. I have seen him do 4 of 5; 5 of 7 and like 15 of 18 one time. I find the strict discipline very attractive. It seems like a good system, but I do want to enlarge the time frame since I don't wast to be a scalper. Email me in a few months and I will tell you my experience.
  • #18
  • Dec 10, 2007 7:41pm Dec 10, 2007 7:41pm
Just be careful.. The fact it's all given free is nice but Woodie is somewhat a dilusional person and I believe he does not actually trade but rather sells t-shirts, coffeemugs, gathers premiums from the brokers and exchanges he promotes, holds conferences about nothing and DOES NOT donate to the Make a Wish Foundation from profits he doesn't actually make by trading. (Do some digging.)

It all looks good and nice but what you refer to as discipline is just his way of keeping the cult members in check so they don't stray from the pack of losing traders by actually developing a way to trade using the CCI profitably and then sharing it with his frequenters. Dig a little bit about this "club" proceed with caution. Has it ever occured to you that many of his "winning trades" are most probably losing trades due to slippage which he does not account for? You know why? Because he does not trade, he just looks at the screen and decides that trade ended as a +1point trade instead of -2 or whatever.. The CCI is useful and can be used to _aid_ profitable trading but Woodies club is just a load of BS. Even though this place is offerred for free.. one should request a track record from woodie to see that he actually makes money rather than following blindly.. I'll put a gentleman's wager that he will blow you off, if you can prove me otherwise then I stand corrected, sincere apologies.

Many of the people who end up there are middle aged/retired looking for a way to make money easily.. "with woodie it's easy.. woodie is always right.. woodie says it has to be done like this.. blah blah blah" This is not how trading is gonna work out and it's not easy I can promise that.. Look up Dr Bob's CCI on www.tradingnaked.com that should lead you in a good direction+ very useful for longer TFs.. end of the day it's best to learn what the CCI itself is all about and how it works to really know what it can tell you, it's just a tool and not a buy/sell auto-signal.. like any other indicator just a guide/visual aid so look for a way to mold it around your desired style.

Bob
  • #19
  • Last Post: Dec 10, 2007 8:33pm Dec 10, 2007 8:33pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Woodie did not invent the CCI but like other technical indicators, the CCI can be very useful to time entries and to detect weakness.

His club sells a lot of TShirts but I don't hear from too many people who make money scalping forex using his system :-). Woodie recommends trading the DAX with his system because it produces "nice zero line reject patterns".

Similar to many stochastic indicators, the CCI is best used to pick entry points. Many traders like to use the CCI in the 1 hour window to time weakness and strength.

One system I've read uses two CCI indicators in the 1 hour timeframe. Setup as follows:

CCI 1: 10 Period
CCI 2: 50 Period.

When CCI 2 moves above 100 then go long. When it moves below -100 then go short and never trade when the CCI is between 100 and -100. This keeps you out of a ranging market and forces you to trade with the trend.

CCI 1 is used to time entries. You can reenter a trade when it pulls back and then moves up.

100 pip stop loss on GBPJPY. 50 pip Stop loss on EURUSD.

Of course, the entry is only part of the equation. You must use sound money management principles along with the signal to be profitable.

This system can give you one or two entries per day on GPYJPY and can yield between 50-300 pips.

TrevA
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