Woodies CCI system

[justyn]

Just wondering if anyone uses Woodies CCI system for trading?

Or maybe someone has tried learning / paper trading / backtesting it?

I downloaded the PDF beginners guide from Woodies site and had a quick read through all 56 pages of it.

It sounds like a simple system of looking for patterns in CCI which are entry and exit signals and acting on these robot fashion without question or hesitation. Probably quite boring, but if it works then so what?

If it is a simple as recognising signals then perhaps it would be possible to write a program to trade for you and eliminate the emotional aspect, I'm not sure how easy this would be to do.

If anyone can share their experiences I would be grateful!

Cheers,

Justyn.

 

[zigglewigler]

I've used Woodies CCI for a while, simply taking slow line cuts of 100 lines as buy/sell areas, the turbo moderates if it's gone too far too quick, warning of short term pullback, helps you if you a have nervous trigger finger, I have Woods on longer time frame, with renko on shorter, I take the renko reversals while the other chart is in top and bottom Wood formations. Did I explain that clearly? Doubt it. Anyway, it's a great tool, you should find a good system to suit you, although I don't use it in the blind way the Woodies club does, fine for them, but not me.

 

[java]

I've also been using variations of it, mainly on forex and with longer time spans. Robust trendline breaks on 60 min charts are very effective, especially with divergences, as are hooks from extreme on 480 min charts. I use more price patterns these days, but aside from a few emas it is the only indicator I have up - changed it to 21 period and took turbo off. I can't do the 8 hours in front of a screen routine and this gives a good compromise if you loosen stops a little. Woodies lot tend to be very firm on what should and should not be used, fine if it works for you, but I tweaked it my way a bit and like the basic patterns.