quote:
I went into the room for 1 to 3 days about 2 years ago. Can't remember who the moderator was but at that time he managed to pull off a couple of profitable trades. I think that he used a set-up called a Shamu.
You say that you were in the room for a "couple" of years - that's a long time. What are the best and worse things about the room? Perhaps the pros and the cons? Also, what level trader would benefit from the room? For example, would a complete novice be able to learn something there or is it better suited for someone with some trading knowledge?
Daytrading..I personally think that the strategy is flawed by it's very nature....it's very difficult for a strategy that relies on indicators to consistently profit from daytrading the futures markets. There was only one moderator that I know of that was able to trade the CCI profitable (his name was rover45)...but he's no longer there...
I don't think that anyone knows for sure whether woodie can profitably trade the system...everyone just ASSUMES he can because he developed the room and the trading methods...but you have to ask yourself...when does woodie find time to trade if he's always moderating or travelling/hosting a "trade-a-long". I suspect that he may make most of his money from the trade-a-longs or from esignal endorsements...it may be a case of the emperor has no clothes. Woodie does not post any results of trades that "he actually took" in real-time.
The pros is that he has a lot of free information about trading psychology on his website (even a very valuable seminar from mark douglas), the con is that too many amateurs are allowed to moderate which is simply the "blind leading the blind."
Another con is that you can waste valuable time (i.e., years) trying to trade the cci method because you simply didn't want to pay any tuition to a real trading mentor that can substantiate trading claims with proof.
I would only recommend woodies site as leisure reading.