I would highly recommend you to not spend time on woodies's stuff, it's a waste of time.
He's been in business for so many years, if something was good in what he is selling, I think we should be aware of it since years!
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I have followed Woodie over the years (the first trading I tried) but could not make the CCI work for me (its not the only system that didn't work for me).. Compared to other vendors, he is one of the most "honest" guys in the vendor business though that may not be saying much.
IMHO once u make a BOT u got something closer to some real stats that a mechanical system might do and one may duplicate. Course if u got natual talent u dont need a mechanical system.
This isn't Ken Wood's first venture into designing bots. He originally had a CCI Autotraders program back in 2008. The buy-in was $5000 minimum. After about 6 months, the program was successful in turning $5000 into $1758. "Better trades down the road"? Apparently not for those who invested. For a short period of time, the daily trading results were posted on the Woodies CCI website. Most of the trades didn't even follow his trading plan or qualify as Woodies CCI setups.
I believe the CCI indicator can be used to augment a good trading plan. However, I have never met one person that has profitably traded the Woodies CCI system. His daily moderators are volunteers, and believe in his "traders helping traders" mantra. Most moderators leave of their own accord after about a year when they discover their PL line is flat at best. Some are outright banned from the room by Ken Wood himself when the "traders helping traders" goes too far into cutting into his bottom line.
Anyone thinking of getting involved in the Woodies CCI Club would do well to research the experiences of his former moderators documented on the web. Any attempts to think for yourself or question the validity of the Woodies CCI system is usually met with stern caution to outright hostility in their trading rooms.
Last edited by spectre; July 20th, 2013 at 06:49 PM.