Woodies CCI trading system

[kkeskar92]

Hi Friends

Just happened to have come across this thread a couple of days back.

Firstly, a big thank you to kkeskar92 for having started this thread and also to linkon7 for sharing his insights with us all and to NFTRADER for sharing the videos on Woodies CCI.

Did read through all the posts on this read as of now and also managed to view all the videos shared by NFTRADER to begin with.

Would have to go through all the stuff a couple of times more to get a better feel of the trading system designed and recommended by Woodie.

A couple of questions from my end:

1. As the system is recommended for the 3 to 5 minutes RT/Day traders is there any coverage for the swing and positional traders based on EOD data too. Tried to search for the same but did not come accross anything for traders/investors with a higher timeframe i.e. Daily charts.

2. Woodie placed a lot of emphasis on the various paramters other than the patterns itself for instance the color of the bars on the Zero Line the CZI and the SI. So it seems very evident that to trade the Woodies CCI firstly one needs to have the accurate indicators in place.

Also, just identifying a pattern without following the nuances will be a wrong method of trading the Woodies CCI. So where can one find the officially approved indicators for the same - from an Indian Markets perspective.

3. For tf lower than hourly the CCI - 14 and TCCI 6 is recommended and for tf higher than hourly CCI - 20. Do we use TCCI 6 for higher tf too as not read anything about the TCCI for higher tf's.

4. Any recommended sequence for mastering the CCI patterns for a beginner. As, trying to trade and master all the patterns at the same time would be a big mistake for the newbie to Woodies CCI.

5. Which platform having the authorized version of Woodies CCI as well as having data for the Indian markets would you recommend.

I use Amibroker ver 5.20 and have downloaded whatever AFL's that i could get my hands on for the Woodies CCI indicator.

I have observed that each of the afl's have something or the other missing in it also very little stress is placed on the colors of the SI and CZI in most of these AFL's.

Would sincerely appreciate if some more insights are shared on the above points by those who trade with the Woodies CCI AFL's as i believe that without having the proper indicators/templates in place one may not be able to follow all the nuances as is originally recommended by Woodie.

Thanks in advance
God Bless
Regards
Floyd

Hi
Thanks for ur queries.

1. You may use woodies CCI on hrly or dailly charts. Make the settings 20 for CCI and no TCCI for timeframe greater than hourly.

2.I am using metatrder and all indicators are posted in this thread. For amibroker and AFL , see Linkon's posts...somewhere in this thread.

3.The patterns are easy to spot..no problem learning all at same time.

Regards.

 

[sahil79]

Hi fjl24, we are here to share and learn from each other, i have learnt a lot from kkeskar92,linkon sir. I have a PDF file about WCCI, I hope it wud be useful for U but I cant upload here due to large size. pm me, i will try to mail U.

regards
santosh

 

[fjl24]

Hi Friends

Sharing a webinar from woodiescciclub on the applicability of cci to swing trades just in case someone is interested in the same.

http://woodiescciclub.com/Lectures/swing-trading-woodie0908/index.html

Trade Well
Regards
Floyd

 

[fjl24]

Dear Linkon

If you could spare some time then would request you to touch upon the various aspects on the Woodies CCI Panel AFL that you use just to co-relate the same with the original cci panel that is recommended by Woodies.

I have downloaded your afl and am trying to co-relate the same with the videos and the other stuff that i have read on the woodiescciclub.

Also, I am not getting the time left properly on my panel in RT - what do i need to edit in the AFL for the same.

Do i need to edit the market timings etc in the AFL or some settings in Amibroker itself.

Also, the difference in CCI is not getting plotted on the panel as per your post.

Is the color codes on the SI, ZL & CZI the same in the AFL or are they represented differently in this AFL vis-a-vis that mentioned by Woodies.

How do i use or interpret the EMA and LSMA angles etc.

Lastly, how reliable are the patterns that are automatically plotted by this afl and when should one take action on it as in rt there are chances that the patterns may vanish as the bar progresses in either direction.

I hope i have been able to clearly express my queries.

The basic objective of knowing the above is purely to follow all the nuances as is recommended by Woodie.

Thanks in advance
God Bless
Regards
Floyd

ZLR + TLB...shorted at 4923...

 

[niftytrader99]

linkon7 and other friends..

I am reading more about Woodie CCI and as per the articles and tips the system looks promising but again as no system is perfect.. I looked around to see if there are any bad reviews.. So I want to know if it is worth investing time on this system because as per the reviews there are people who have lost significantly.


So, I would like to you know if it is worth investing time and money in this system. I saw some examples in this tread but if someone can provide some more examples of live trades that if this system works that would be great.

Oh yes, the AFL's posted here dont work, they give errors.

Please provide your inputs, suggestions, advise.

NT

 

[Blaiserboy]

The system works. Whether or not you can make it work is entirely up to you and your attitude to making it work.

You can expect to spend a lot of screen time to learn and understand, if you are unprepared to spend the effort and time...... you may as well just write a cheque to a charity.

There are several recognized CCI entries, you will have to study and research to find the one(s) that suit your style.

Looking at someone else's trades will be of no value to you. Trading is an individual game that rewards personal effort.

 

[niftytrader99]

The system works. Whether or not you can make it work is entirely up to you and your attitude to making it work.

You can expect to spend a lot of screen time to learn and understand, if you are unprepared to spend the effort and time...... you may as well just write a cheque to a charity.

There are several recognized CCI entries, you will have to study and research to find the one(s) that suit your style.

Looking at someone else's trades will be of no value to you. Trading is an individual game that rewards personal effort.

Thanks, I wanted to know the opinion of people who are already using it. I have already put about a day to figure this system out and After that i came across the blogs that have nothing but bad about it and this is why i need to check with people who have used it and know it. I am not telling to spoodfeed, I even tried to figure out some signals with DOW yesterday and got 2 signals which were good and 1 signal which would have wiped the gains in the first 2 good trades. but yes learning this system will take time and i might have not picked up the signals very well. that is also very much possible..

Well, will look more into it and lets see how things go.. I wanted the opinion of people who use it so. Well.. Fair enough.. lets see how far we go.

Thanks

NT

 

[prabuinet]

should not weight a system with just 3 trades.

 

[prabuinet]

niftytrader99,

me too new to wcci.. like u. I too read all those negative reviews.... suicide reviews.. fraud reviews... everything... but I still want to study this system.

you said one trade wipes off two trades.. This is bad trading, not bad system. you have to adjust your reward ratio, stop loss etc according to the system. Because look carefully, the system gave you high probability of winning trades.

For example if you get 200+200 in two trades, for the negative one your stoploss should be somewhere near -150 or atleast -200. So you will get a final result of +250 or +200. This is probability of winning. To win in the trading world you have to think statistically. You have to plan (what is stoploss...target...etc) before trading.

 

[niftytrader99]

Yes, I agree and based on the half knowledge about the system. I agree with you. I too still want to learn this system. there are some money management lessons worth following.

Well, I am still on it and lets see how things come up.

Thanks

NT