NQoos ;-)   

TRADING NAKED

Master  your  setup. Master  your Self

 

the interpretation and application of price action concepts

 Thank you for your donation...NQoos 8-)

We all share a similar path in Trading. Even though you may not be a consistently profitable trader now, you can chose to enjoy the path. This alone may make the difference in your success.

 

 

Trading Woodies CCI System by Jeff     jeffandcci@yahoo.com    Copyright © 2004 Jeff Gannon  


Woodies CCI Club      The Mindset      The System   The Trend    The Trade Entry And Exit   The Patterns    The Preparation For Your First Trade     


The Charts

 

The snapshot above is a complete set of charts that are used to trade Woodies CCI system. There are four different markets and only one time frame for each market.

We are showing the YM and the ZB on a 5 min chart, and also the ER and the EUR currency futures on a 3-minute chart. We donít change symbols or time frames during our trading day in Woodies CCI system. Absolutely everything we need is right there on that set of charts to trade 4 markets. In fact if we only want to trade a single market then we only need one of those charts. We look at nothing else at all. Simple.

Notice a few things about these trading charts. Clean. Simple. No Prices. And the CCI patterns are the only thing that jumps out at you. Everything else fades away into the background. No Distractions. This is very important to successful trading. You have to have the CCI pattern stand out like its 3-D. You have to be able to see only it from across the room. Fade all other things into the background. We only focus on the pattern.

Notice another thing about the charts. 1 chart with 1 market with 1 time frame. Simple.

Woodie only uses two CCI indicators to trade with.  One is the CCI 14 period, shown as black, and called CCI. The other one is the CCI 6 period, shown as red, and called Turbo CCI or TCCI. The CCI formula uses the (H + L + C) / 3 calculation and has a multiplier of 0.015.

Woodie himself may have price bars, Woodies pivots and even the 34-ema showing on the charts he pushes to the room in real-time. But he does NOT use them to trade with. So you wonít either.

Do not put additional things mentioned above on your charts at all. They all work to some degree. But do not add any of them. They are not needed. If Woodie doesnít use them to take trades then why should you?

Woodie only looks at one chart for each market he trades. He does not look at different time frames for confirmation. Each chart has only one time frame on it. Mostly he uses a 3-minute, 5-minute or a tick chart of some set number such as 33, 89 or 133 tick. Ask the room what Woodie uses as a time frame for a given market. Use that only and do not change it. Follow what Woodie does.

Woodies charts are set to display data for the normal market hours only. He does not use pre and post market data on his charts to trade with. This will change the CCI patterns at the beginning of the market if you do not use the same data display hours. Make one single chart with one single time frame for each market he trades.  Set the data display time frame for each chart. For example most markets will be from 9:30 am to 16:15 pm EST. The bonds will be from 8:20 am until 5:00 pm est. Currency futures like the Euro and Yen are set to 24 hours.

Woodie does not change charts around, add things, subtract things or change time frames at all. He keeps them the same all the time. He does not switch time frames to see different patterns. He doesnít use larger time frames or smaller to confirm his CCI patterns, entry or exit signals. You should not do this either.

Set up your charts with exactly what Woodie uses to trade with. Do not modify them in any way. All you need to put on your charts is the CCI indicators set to 14 period and 6 period CCI. Set the background colors so that it is not standing out. Set the text size and color and any other items on the screen so that they do not stand out.

Make the two CCI indicators stand out as much as possible. Make them thick. These are the only things we want to have pop out at us when we are trading. No other information is important. If something other than the CCI pattern itself is standing out then you will focus on it and it will degrade your reaction time.

Remember that you are making trades based on one single chart with one single time frame. If that chart is a 3-minute chart then you canít expect to stay in very long. We are daytrading. We move fast. It doesnít matter if the prices keep moving and we could make more profit. You have to follow the system and do not second-guess it at all. Woodies CCI takes plenty of profit out of the market each and every day.

All you are supposed to do all day long is wait for a Woodie CCI pattern to scroll by. It should be boring. Good trading is defined as boring. Get over it. We wait for a CCI entry signal. We enter the trade. We wait for a CCI exit signal. We exit the trade. It is simple, well defined, very clear and works very well.

Notice the 2 count down timers on the charts above. They are the small almost square blocks. They show the time that is left before the CCI bar will print and create a new CCI bar. These can be used to time your entries. You will learn more about this later on.

New people love to add things to their charts because they do not know what else to do. Donít do this. Once you add the CCI signals to your charts and remove prices you are done! Woodie doesnít use price bars to trade and you do not need them either. If you are new to Woodies CCI, now, and I do mean right now, is the best time to learn this.

Do not make excuses about how you canít trade without it and your other indicators or how you are learning to not need them. You are wasting your time. You canít afford to trade with these things any longer. It increases the learning curve dramatically. It would be like learning to use a cane for walking in outer space. It will keep you from focusing on the task at hand. Donít add anything else to your charts. Only use what Woodie uses.

1 Chart Above Ė Woodies CCI Trades Showing Price Bars.

 

In the chart above you will see 4 Woodie CCI trades taken. The single yellow lines are trade entries and the double yellow lines are trade exits. Blue lines were used to outline the CCI trade pattern.

There were several other trades there as well. However, only 4 were shown. Those taken were a TLB short, a TLB short, a Ghost short and a TLB long. We take trades without looking at price bars. So should you. You will not do well if you look at price bars. Your performance will suffer because you are using them. You cannot learn Woodies CCI system while watching prices. The excuse that you still need them is absolutely wrong.

Of the 4 trades shown you can see that the first 2 TLB trades, from left to right, made very nice profits, and the next two trades, the Ghost and the TLB, made a very small profit and the other one a very small loss or b/e at best. Woodies CCI system controls your losses and lets your winners run.

It is very important to notice that Woodies CCI system will most often get you in 1 or more bars before the rest of the world. This is your edge!  The pinkish purple lines drawn on price show you where people 

might enter the 4 trades based on the break of price bar trend lines. Each and every single price bar trend line break entry shown is 1 or more bars later then Woodies CCI entry. That costs you smaller profits, larger losses and sometimes can even turn out to be a disaster!

 Notice the Ghost entry we took didnít go far on this particular trade but we still snagged a very small profit. But the price bar trend line method put you short and the market turned on you immediately after that for a nasty loss because you probably wouldnít exit until it broke the upside of that range. With Woodies CCI we exited with a small profit within the range because we got the CCI entry and exit signals right on time. This is a perfect example of how Woodies CCI system is protecting you, giving you small losses and large profits automatically.

The chart above shows prices to help you see that Woodies CCI trade patterns can be taken regardless of whether prices are watched or not. If we remove the section showing price bars wonít we see the exact same CCI entry and exit signals? The answer is YES! So this should show you that you donít need price bars to take the trades in Woodies CCI system. And since you donít need price bars and watching them creates stress and emotions while trading then why on earth show them on your charts while learning Woodies CCI system? The excuse that you need them while learning is ridiculous. Woodies CCI system doesnít use them.

Controlling your costs while keeping it simple is very important when trading. You can use Sierra Charts www.sierrachart.com for charts at only $80 a year, Interactive Brokers www.InteractiveBrokers.com for both a free data feed and also as a universal trading account from which you can trade anything under the sun. You can find various free count down timers to time your trade entry at www.woodiescciclub.com. Woodie uses Sierra Charts, IB and the countdown timers with excellent success and so can you.

 All these tools are very inexpensive, work perfect and are widely used to trade Woodies CCI system. This is because it is a very simple system, uses very few indicators and doesnít require the need for historical data. Get over your need to have fancy chart features, historical data and expensive tools. They are just not needed any longer. Save your money. This is one of the many wonderful benefits of trading Woodies CCI. While learning the system they are a completely viable low cost option.

 

 


 

expect miracles, they are everywhere.............. God is good all the time

Algeria Andorra Angola Anguilla Argentina Armenia Aruba Austria Australia Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Bermuda Bolivia Bosnia.and.Herzegovina Botswana Brazil Brunei.Darussalam Bulgaria Burkina.Faso Cambodia Canada Cayman.Islands Chile China Colombia Costa.Rica Cocos.(Keeling).Islands Cote.D'Ivoire.(Ivory.Coast) Czech.Republic Croatia.(Hrvatska) Cyprus Democratic.Republic.of.the.Congo Denmark Dominican.Republic Ecuador El.Salvador Estonia Egypt Equatorial.Guinea Faroe.Islanda Fiji Finland France French.Polynesia Gabon Gambia Germany Ghana Gibralta Greece Grenada Guadeloupe Guatelma Guyana Honduras Hong.Kong Hungary Iceland India Indonesia Iran Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya  Kuwait Kyrgyzstan Latvia Lebanon Libya Liechtenstein Lithuania Luxembourg Macau Republic.of.Macadonia Malaysia Maldives Malta Martinique Mauritius Mauritania Mexico Moldova  Monaco Mongolia Morocco Mozambique Myanmar Namibia Netherlands Netherlands.Antilles New.Caledonia New.Zealand.(Aotearoa)  Nicaragua Nigeria Niue Norway Oman Pakistan Palestinian.Territory Panama Papua.New.Guinea Paraguay Peru Philippines Poland Portugal Puerto.Rico Qatar Reunion Romania Russian.Federation Rwanda Saint.Kitts.and.Nevis Saint.Lucia Saint.Vincent.and.the.Grenadines San.Marino San.Salvador Santo.Domingo Saudi.Arabia Senegal Serbia Seychelles Singapore Slovak.Republic Slovenia South.Africa South.Korea Spain Sri.Lanka Sweden Sudan Switzerland Syria Taiwan Tajikistan Tanzania Thailand Trinidad.and.Tobago Togo Tunisia Turkey Turks.and.Caicos.Islands Tuvalu Uganda Ukraine Uruguay United.Arab.Emirates United.Kingdom United.States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Virgin.Islands Yemen Yugoslavia Zambia Zimbabwe

contact TradingNaked                                  yes I am from the '60's           surfed from 168 countries             yes I am from the '60's                                               claimer              

All content copyright (c) 2002-2008 TradingNaked.com and their providers.  All rights reserved.