CCI
- Thread starter paulrockhopper
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Although buyers would do better than sellers when the CCI crosses UP through +100 this isn't a valid CCI signal for either a buy or a sell on it's own.
It's like anything else in trading, if you stick with something and learn it inside out then you will probably start to get results. Using CCI is a good example of this.
Gary
Although buyers would do better than sellers when the CCI crosses UP through +100 this isn't a valid CCI signal for either a buy or a sell on it's own.
It's like anything else in trading, if you stick with something and learn it inside out then you will probably start to get results. Using CCI is a good example of this.
Gary
To be serious, JonnyT is right in the sense that there is nothing
better than price/volume action together with chart pattern
setups and support/resistance. However that is not to say that
an indicator will not help you make money. The main problem is
that and indicator is *lagged* and therefore will get you in/out
later than if you used solely price/volume.
better than price/volume action together with chart pattern
setups and support/resistance. However that is not to say that
an indicator will not help you make money. The main problem is
that and indicator is *lagged* and therefore will get you in/out
later than if you used solely price/volume.
Are they not all simply points of reference to focus your mind on what is happening between current price and entry price and target price if you have one ?. A visual diagram of the unfolding story. Consequently if you are sufficiently experienced in your ability to visualise price action in isolation it follows you don't need indicators at all.
However, it does not take much imagination to see how the 'clever' money utilises the outside monies dependance on indicators to make its' crust. Call it anticipation.
Cheers
However, it does not take much imagination to see how the 'clever' money utilises the outside monies dependance on indicators to make its' crust. Call it anticipation.
Cheers
Well, if you are making money trading with just price action then that's great. I can appreciate how that's a very good way to trade ...
However if you aren't making money and you are looking for something relatively simple to use, with the backup of 500 traders in a chat room to help you, live charts and live audio commentary in the chatroom too. Then you might want to take a look at Woodies CCI Club ...
... it's all free by the way.
Incidentally there are people in the chatroom who only use CCI, they don't look at prices at all. Sounds bizarre? Take a look, you'll find it interesting. There are guys in there hitting 70-80% winners day in day out without seeing a price bar or candle.
Cheers
Gary
However if you aren't making money and you are looking for something relatively simple to use, with the backup of 500 traders in a chat room to help you, live charts and live audio commentary in the chatroom too. Then you might want to take a look at Woodies CCI Club ...
... it's all free by the way.
Incidentally there are people in the chatroom who only use CCI, they don't look at prices at all. Sounds bizarre? Take a look, you'll find it interesting. There are guys in there hitting 70-80% winners day in day out without seeing a price bar or candle.
Cheers
Gary
TraderTony
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Yeah - say what you like about CCI but Woodie is the real deal - won't take a penny from anyone (over 500 people in his room) and only asks for a donation to 'Make A Wish' charity if you do well.
Gary,
It's been said before and no doubt will be many times again "there is no single way to trade". It's a mature view to respect people's wishes to find their own way.Personally I now focus primarily on price action,but I will drop in on Woodie anyway. An open mind has only an upside.
Cheers
It's been said before and no doubt will be many times again "there is no single way to trade". It's a mature view to respect people's wishes to find their own way.Personally I now focus primarily on price action,but I will drop in on Woodie anyway. An open mind has only an upside.
Cheers
zigglewigler
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I love it! Some of the indicators I use with success have been slated! I use Bol Bands, Stochastic of RSI, MA of ROC and Woodies CCI, on candle and kagi charts. They work for my style, I swing(yeh baby) but don't trade the popular indices. But remember the indicators do just that, 'indicate' where things may be going, you need to confirm with more classic analysis with say candles over various timeframes.
While we're on the subject of indicators, does anyone use StatWare on eSignal? Is it worth the extra $140 a month?
While we're on the subject of indicators, does anyone use StatWare on eSignal? Is it worth the extra $140 a month?
frugi
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Slow, Misses Action
Signals Mixed Always
Subjective Misleading Adversary
Seldom Manages Anything
Random Signal Initiator
Rarely Soothes Indecision
Another Trader Ruined
Dreadful Mechanical Indicator
Delivers Mixed Interpretation
Drawdown Much Increased
Customarily Completely Ineffective
Obviously Barren Variation
Makes Arbitrary Confusing Decisions
Signals Mixed Always
Subjective Misleading Adversary
Seldom Manages Anything
Random Signal Initiator
Rarely Soothes Indecision
Another Trader Ruined
Dreadful Mechanical Indicator
Delivers Mixed Interpretation
Drawdown Much Increased
Customarily Completely Ineffective
Obviously Barren Variation
Makes Arbitrary Confusing Decisions
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CCI is just another static oscillator. The market does not cycle in static cycles. (14, 6, whatever)
It is true that Woodie is a great trader as well as a good teacher However, it is not true that he ONLY uses CCI to trade. He uses other things including a LSMA and support and resistance levels.
More importantly, one must remember that Woodie has used the CCI static oscillator for around 20 years. He has also watched what happens to price action when the CCI does certain things, i.e., crosses above/below 100/-100, diverges etc.. In other words Woodie has become quite adept at reading PRICE ACTION!!!!
The main thing Woodie does is give confidence to traders, which he should be commended for. Trading is a tough business choice and most people wash out before ever becoming profitable. Unfortunately, the same failure rate will hold true for the 500+ people in Woodies chat room who btw do not all use the CCI. (some people are there for the friendship)
Some people are followers/(employee type) and some people are leaders/(entrepreneur type), most people who are followers do not succeed in the trading arena.
If you put Woodie in a room for one month with only CCI and nothing else on a chart, no trending indicators no sup/res levels you would see that he would make nice profits on choppy days but would lose it all and more on trending days
Ultimately, support and resistance are all there is. Everything else is just a giver of confidence.
Hima
It is true that Woodie is a great trader as well as a good teacher However, it is not true that he ONLY uses CCI to trade. He uses other things including a LSMA and support and resistance levels.
More importantly, one must remember that Woodie has used the CCI static oscillator for around 20 years. He has also watched what happens to price action when the CCI does certain things, i.e., crosses above/below 100/-100, diverges etc.. In other words Woodie has become quite adept at reading PRICE ACTION!!!!
The main thing Woodie does is give confidence to traders, which he should be commended for. Trading is a tough business choice and most people wash out before ever becoming profitable. Unfortunately, the same failure rate will hold true for the 500+ people in Woodies chat room who btw do not all use the CCI. (some people are there for the friendship)
Some people are followers/(employee type) and some people are leaders/(entrepreneur type), most people who are followers do not succeed in the trading arena.
If you put Woodie in a room for one month with only CCI and nothing else on a chart, no trending indicators no sup/res levels you would see that he would make nice profits on choppy days but would lose it all and more on trending days
Ultimately, support and resistance are all there is. Everything else is just a giver of confidence.
Hima
CCI works great on trending days. It shows you the trend by it's position relative to it's own zero line. I use CCI and I wish everyday was a trending day.
He doesn't use anything else except the CCI to enter a trade.
He doesn't use S/R on price at all. In fact he encourages newer traders not to display prices on their charts.
Are you in the CCI room often Himalaya?
He doesn't use anything else except the CCI to enter a trade.
He doesn't use S/R on price at all. In fact he encourages newer traders not to display prices on their charts.
Are you in the CCI room often Himalaya?
TraderTony
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I agree with most of what you say Himalaya, but just a couple of clarifications. Woodie himself does not use 25lmsa, but others in room do for staying with a trade (Woodie tends to be a scalper). Neither does he use support and resistance (even though he has created his own version of floor traders pivots which others in the room use). He is pure CCI, in and out quickly. He will regularly trade live in the room using CCI only (i.e. no price bars) and has an uncanny success rate.
However, I agree with your overall comment - he has spent years watching CCI and knows its character incredibly well. I go into the room most days but I don't trade CCI. My point in posting earlier was to vouch not for CCI but the integrity of the man himself. I was lucky enough to meet him last year and he is driven by a passion to try and help aspiring traders avoid some of the severe losses he admits he suffered himself earlier in his career. I have learnt a great deal by being in the room as, in addition to Woodie, there are some highly accomplished traders who share the moderating, each with their only nuances and stories to tell. Some are ex floor traders and most have been pros for a number of years.
Anyway, I've no particular interest in plugging the room, but I will defend the integrity of Woodie to the hilt. He single-handedly destroys the myth that no successful trader would ever share his or her system as this is all he does, every day. Whether it's for me or you is a different matter.
However, I agree with your overall comment - he has spent years watching CCI and knows its character incredibly well. I go into the room most days but I don't trade CCI. My point in posting earlier was to vouch not for CCI but the integrity of the man himself. I was lucky enough to meet him last year and he is driven by a passion to try and help aspiring traders avoid some of the severe losses he admits he suffered himself earlier in his career. I have learnt a great deal by being in the room as, in addition to Woodie, there are some highly accomplished traders who share the moderating, each with their only nuances and stories to tell. Some are ex floor traders and most have been pros for a number of years.
Anyway, I've no particular interest in plugging the room, but I will defend the integrity of Woodie to the hilt. He single-handedly destroys the myth that no successful trader would ever share his or her system as this is all he does, every day. Whether it's for me or you is a different matter.
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zigglewigler
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For trading swings that last days, Woodies CCI with a faster setting, helps me nail entries, especially 100 line crosses with divergence, using 60 mins charts. Can't say it works that great if day trading, clearly too much noise on shorter timeframes. The turbo line with zlr helps spot the 'too far too soon' moves that normally strip the eager. I don't follow the indicator blind, the candles and relationship to the daily pivot have to be saying the right things. Yes, it's a confidence thing, you need good ropes when you go climbing.
Woodie's CCI
Gary777
I am not looking for a debate. Just expressing my opinion, which I feel can be beneficial to people who might be thinking of getting married to a technical indicator.
No, I am not in Woodie's room often. In fact, I am never in his room. I do have friends who hang out in his room for the comradery.
I know Woodie from when he first appeared on Paltalk. I had many conversations with Woodie at that time. As I said, Woodie is a great trader and a good teacher.
I know he does have people not look at price action and to only look at the CCI when they are having trouble attaining confidence and discipline in the indicator. Basically, when price action, candle sticks, whatever is preventing a newbie from being disciplined and profitable. If you think Woodie advocates just looking at the CCI indicator and being oblivious to price everyday, all day long, well, we must be talking about a different Woodie.
Forgive me for my lack of clarity with the example I used regarding a trending day's profitability vs a choppy day's profitability while using the CCI. The point I was trying to express was that CCI will not tell you if it is a trending day or choppy day. To be profitable day after day, year after year, you need to see price action.
There is no magic indicator in trading but there is a lot of misplaced hope.
I have been trading long enough to know that 85/90% of the people in Woodies' room will eventually wash out of trading. It is not because Woodie is not a great trader and it is not because he is not a good teacher. It is because it is very difficult to teach 20+ years of trading experience and DISCIPLINE to employee type personalities.
There are many ways to profit in the trading arena. No doubt that CCI can be used in one of these ways.
Gary777, I am confident that you can become one of the successful 10/15% of traders if you master the discipline, patience and persistence required to insure a statistical edge in whatever indicator, method, system you are using to enter and exit trades.
Believe me, If there were 500+ weak hand retail traders all entering CCI trades within a few seconds of each other in a public chat room someone would be squeezing their stops most likely after front running them
I am all for traders helping traders.
Hima
Gary777
I am not looking for a debate. Just expressing my opinion, which I feel can be beneficial to people who might be thinking of getting married to a technical indicator.
No, I am not in Woodie's room often. In fact, I am never in his room. I do have friends who hang out in his room for the comradery.
I know Woodie from when he first appeared on Paltalk. I had many conversations with Woodie at that time. As I said, Woodie is a great trader and a good teacher.
I know he does have people not look at price action and to only look at the CCI when they are having trouble attaining confidence and discipline in the indicator. Basically, when price action, candle sticks, whatever is preventing a newbie from being disciplined and profitable. If you think Woodie advocates just looking at the CCI indicator and being oblivious to price everyday, all day long, well, we must be talking about a different Woodie.
Forgive me for my lack of clarity with the example I used regarding a trending day's profitability vs a choppy day's profitability while using the CCI. The point I was trying to express was that CCI will not tell you if it is a trending day or choppy day. To be profitable day after day, year after year, you need to see price action.
There is no magic indicator in trading but there is a lot of misplaced hope.
I have been trading long enough to know that 85/90% of the people in Woodies' room will eventually wash out of trading. It is not because Woodie is not a great trader and it is not because he is not a good teacher. It is because it is very difficult to teach 20+ years of trading experience and DISCIPLINE to employee type personalities.
There are many ways to profit in the trading arena. No doubt that CCI can be used in one of these ways.
Gary777, I am confident that you can become one of the successful 10/15% of traders if you master the discipline, patience and persistence required to insure a statistical edge in whatever indicator, method, system you are using to enter and exit trades.
Believe me, If there were 500+ weak hand retail traders all entering CCI trades within a few seconds of each other in a public chat room someone would be squeezing their stops most likely after front running them
I am all for traders helping traders.
Hima
