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Los Angeles, USA,
Jul 22, 2013,
Hi guys. I'm back and still have the same attitude but hope you have adjusted yours and been more responsive to users who create your content. No slacking, lol. I thought you might like an update since my initial post. Woodies CCI is no longer a winning system. Over the past few years, its performance has deteriorated to the point where a live trader would vaporize his/her account. Back when Woodies was a free system, traders were told they were fools to buy a trading system; 'If the system worked so well why did its creator need income from software sales?’ Well, now Woodies charges big bucks to lease the room and the indicators. Of course all of this is free for moderators so keep that in mind if you're thinking of moving forward. Also, keep in mind that the former broker sponsoring their chat room, PFG Best, went bankrupt when its founder embezzled client funds including money from wcci traders. Peace and happy trading.
2011-04-26 4Star Most traders fail because they lack a trading plan and discipline (to follow their trading plan). There is no magic in WCCI. The patterns are similar to the ones you will read about in any trading book but they just have different names. The visual presentation of the wcci indicator is unique plus the system includes several clear options for exits. Learn the basics, do your stats but you must make the system your own. Do the stats and you will fgure out a profitable plan. Negatives: incessant, cultish fawning over Woodie by the room moderators, bullying by a certain person who works for a sponsoring broker and calling it a "club" when it is clearly evolving into a fee-based business.
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Luke decided to wait 3 days before sending this message to us...
Folks, on Monday I took the time to complete a review of the Woodie CCI trading system and you didn't post it. My review was balanced and better than most of the c***py reviews. F*** you!
Luke, your review might be well written, but your attitude needs to be adjusted.
Las Vegas, USA,
Apr 20, 2012,
I have been in this room for 6 months and took stats on his Double Dip trade, which came in at Break Even at best! Besides a couple of Mods there that are helpful, most of them (such as TimP or Johnny O) are just there to push their products such as their DVD or their trade along confrence... My questions were often purposly ignored in the room or the answer to my technical question would often be: buy the DVD, or take your question to the upcoming confrence or invest in the woodie bars(which is $200 more a month). I believe there is a lot of good information that Woodie has accumulated through out the years from a few good traders and is trying to market them... But his goal is to make you spend money. Don't get fooled by the moto "Traders helping traders" !
Jan 1, 2011,
Woodies patterns = price patterns.
If u get to learn whats the price pattern behuind woodies setup, u u will very well be able to trade naked. but if u feel price confuses u or u find it hard to find patterns in price action.. start with cci. after u took the trade.. tally it with the price patterns.. u will improve.
My suggestion is for better trading. I have no inflated ego, either for or against Wodie.
but yeah, as there is a livchat room, the moderators can help with ur practise.
although i wont recommend buyin xpensive dvd's and stuff as most of it u will find fre on internet.. just do a bit of hard work.
Sep 28, 2010,
CCI as a standalone system is extremely risky, but very insightful if used with other technology.
CCI club motto is "traders helping traders" but its really not, the real motto is "woodie telling traders what he wants you to do".
If you try to help traders with something you found successful or mention any other trading technology not CCI and accepted by the cult leader, you are banished from the cult.
Aug 21, 2009,
It's worth noting that the unfounded accusations of Tim, along with several others of Dennis Bolze's cronies are the true crooks or fools as it may very well be. Dennis stole all their money:
Jan 8, 2009,
If you goggle "Dennis Bolze Gatlinburg" you will find he's gone missing with $20 million plus in clients money.
Sep 30, 2008,
I have been trading full time tor the past 14 years.... It wasn't til the last 6 that I began to make consistent $$$.
It's not because of some "magic method" or "special indicator"... it's because I finally became "in-tune" with some simple indicators, and recognized some set-ups that WORK FOR ME!!
That's it... NO MAGIC!
I just happen to use some of Woodies CCI indicators along with simple support & resistance, along with other simple set-ups that I recognize that are coming on! The reality is that my set-ups are mostly "trader psychology"... I just know what to look for, what the reaction will be, and I learned how to trade it!!
It's really that simple.... NOW!
Do I make a million $$$?... NO!
Do I live well?.... YOU BET!
SO... with all that said.... my advice is this.... ANYTHING will work for YOU, if you take the time to learn it, internalize it, and make it your own!
Whatever makes YOU comfortable... will work!
BUT, here's the biggie.... YOU NEED TO WORK AT IT!
TWEAK IT, and INTERNALIZE IT!!
Look..., Woodies CCI is FREE... IT works, but ONLY IF YOU DO!!
SO, please.... don't say that you got "screwed" and that "something doesn't work"... just because YOU DIDN'T!!
Any trading methodology will work for you... BUT, only if you work on learning it.....
Good Luck, God Bless, and above all.... Keep your loses SMALL!!
Jul 16, 2008,
Ken Wood is not only a fraud and a crook but his blatant misleading of Dr. Famir was the major contributor to Dr. Famir
May 15, 2008,
I am very suspicious of Ken Wood's claims. All backtesting I have seen of his setups has resulted in very poor (often losing) performance which bears no resemblance to his inflated claims. There seems to be an increasing trend towards other streams of income being generated for Ken Wood - ridiculously expensive DVDs, conferences where payment is in cash and profits are meant to be given to charity but this appears not to happen, hard selling of an overpriced broker to the minions in the trading room, and more. I believe Ken Wood to be a fraud who exaggerates his own success to get money from others. He may well make money on trading the Russell by front-running the room - if he takes profits very early, this can be enough in an illiquid market. It would be hillarious if Woodie is actually taking his profits directly from slow on the button traders entering the trade he has just called.
May 9, 2008,
There is a lot of controversy surrounding Woodie's CCI. I would advise a newbie to be very suspicious. I never traded Woodies system live because mechanical system based trading was never for me but I have watched Woodies CCI for over a year and many things don't sit right with me. One instance that raised a red flag was the drop out of ClintTX saying he was not able to make the CCI profitable. Another was my tinkering with coding the CCI into tradestation and finding no matter which way I tweaked things it was not making money and I confirmed this with other individuals as well. Mplays complete removal from the site also raised a red flag. If you check out Mplay's site you will see his take on the things, Mplay Options. Honestly check the system, verify that it works, understand what you are getting yourself into, don't trade live until you "get it", and beware the smoke and mirrors of the Woodie's following.
Overall I think you can learn from the club but it might not be the lesson you expected.
Dec 22, 2007,
"We dont need no stinkin' Prices", this Guru Ken Woods is telling you to trade with no Prices! Its appealing to a newbie but Pro traders will recognize this CCI and its setups have no real merit in real life trading. Has anyone ever seen Woodies Tax Returns, if he really even trades? After all he is such a sweet, nice old men. Ive spend 3 years there, no more.
Dec 17, 2007,
For a newbie highly recommended by a former newbie. i have avoided all the software scams and trading room scams and the expensive indicator scams. Go to the site and read everything sit in on the rooms and listen. It will take a newbie about 6 months to learn that you need to learn alot more. It will take another six months to learn that %85 of trading is psychological and not about entrys much.NO SOFTWARE PACKAGE AND 2 WEEK SEMINAR CAN MAKE ANYONE A TRADER.DO NOT TRADE UNTIL YOU CAN PAPER TRADE AN ACCOUNT WITH A CONSISTANT METHODOLOGY WITH SET STOPS AND TARGETS.Highest rating.
Nov 20, 2007,
I'm kinda glad some cant get the CCI to work for them, after all there has to be someone on the other side of the trade.
Aug 28, 2007,
Just for a different point of view do a search for Dennis Bolze's blog "Traders paradise" (I won't post the link here) You may find all is not what it seems with "Woodie"
BTW - yes, I tried this ages ago and quite frankly gave it away pretty quick
Aug 28, 2007,
I found this article doing a google search and there was a link from Trader's Paradise. I have little personal experience, but this article seems to be accurate. Here's the link: http://tuckerreport.com/articles/magic-indicator/
or just go to the website at www.tuckerreport.com and find the article on the right side. There are also a few CCI articles that hinted at problems with the way the indicator is being used.
Jul 19, 2007,
I’ve been trading options, then CFDs and spread-betting in shares and indices for about 20 years. Just as an amateur and sporadically as my job allowed and very part-time. I wasn’t spectacularly successful but I managed a profit. Last September after several months enforced inactivity due to work commitments I was about to start trading again when, by chance, I came across Woodie’s site. It stopped me dead in my tracks. I had been expecting to plunge straight back into trading the footsie as before but instead I stopped doing any trades at all. I went back to school. And wow what a school! What an amazing cornucopia of good sense, wisdom and insight in this one amazing website to explore. A week later I fired up my trading platform again. This time to learn how to recognize two of three of the simplest of Woodie’s with-trend patterns. By Christmas I went back into the market for real. Now I trade almost exclusively using Woodie’s CCI system in stocks, indices and just starting with Forex - which is how I found my way here to Felix’s invaluable site. My trading has never been easier or steadier nor, I’m sure, ultimately more lucrative. And quite amazingly everything on Woodie’s site it is FREE. What value. Go there please
May 18, 2007,
Very good site. It might take a while to figure out how to find things there but once you do, you won't regret. Woodie is a great mentor and his CCI trading system is something you can trade just about everywhere. I'm probably going to trade it on 60min Forex charts.
Apr 20, 2007,
Excellent documentation on his site and made a true believer out of me on the CCI, am still learning, but will be there one day !
Apr 13, 2007,
Lots of archive and useful information to help you to be a real profitable trader. In Woodies club you don't hear BS and garbage like from Wayne McDonell, and it's all free to learn!! I really enjoy the helpful resources provided there. So far this is the best site about trading I've ever been to.
Mar 22, 2007,
Someone once told me on a trading forum that *any* technical analysis indicator could make you a successful trader... *if* you knew all of its nuances, strengths and weaknesses. Woody's CCI club is evidence of this concept, as him and his long time members really are successful traders, using mostly this one indicator. That being said, don't expect to get success overnight by hanging out on their forums and chat rooms. You will have to sort through the pages of documents they have, watch them trade live in the chat room, and spend several months studying the CCI diligently. Only then, you will have the same success as they do. These guys are really genuine, as they freely give out their information... they do not need to take your money in order to support themselves. However, expect to do a lot of studying.
Jun 28, 2006,
I hung out in woodies room fall of 2005. I think he is a real genuine guys that gives a ton of help for free. Does the CCI work? I believe it does although I couldn't make it work for me. I don't believe I gave it enough time to learn. Now I believe you can hang out in the room and don't even have to have hotcomm. Worth a look definitely.
Jun 10, 2006,
For Aggressive short term traders that would like to scalp the FX market between 10-25 pips in as little as 5-15 mins, this site is good. Specifically, learn how to use Woodies CCI method on CCI 6 & 14; learn its Trend line break on indicator (not price bars) Free education. Discretionary method.