So there I was sitting my office and was in a trade, had gotten to BE, had my target set and decided to log in and listen. Trading can be a lonely adventure to say the least, but no website...which means how do you log into the chat room....????
Now I'm worried, what if something happened, so I checked around using my favorites and there wasn't anything on the userplane...well except chat rooms about older gay guys and someone being spunky......I checked with eminitraders.com and not a word about the once powerful chat room...(if you remember back, TraderDave flew along with the Woodshed and us into Vegas for the second universal world CCI conference).
I went into r7.com another one of Woodies long long time friends and not a word about the club, zip...........zero, dang it I need a chat room fix...and badly!!!!
I did find a site....Traders helping Traders dot com.....but nothing about the club....where oh where could they be??????
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7 comments:
We could only be so lucky as to see the Wooden one go poof! in one fell swoop like that. In your dreams.
Think about it Dennis:
Without THAT room, HE'S just yet another anonymous, retired geezer off a golf course development somewhere in Arizona with HIS wife and some family members who come by to see HIM occasionally and a cat or two lounging around. You know, the typical way things are when life has been fairly kind to you and it's time to take it easy (aka, the quiet life).
Without THAT room, HE couldn't freeload around the world to talk on-end about something that has not even improved one's chances of "making it" in trading from a 90% failure rate to at least 70%, let alone the odds of a coin flip.
The truth is that HE has no real trading friends, only supplicants. HE only wants admirers to feed HIS unquenching ego. A friend (as many in THAT room have tried to be after [apparent] years of faithful devotion and tolerance [lol]) would step up and tell HIM when HE'S being a dumba$$ and then said dumba$$ would evaluate HIS behavior, realize mistakes and then correct the behavior. But HIS ego lives in the world of the internet where there's always an endless supply of weak-minded, lonely chatroom personalities to come to the Wooden one's alter and never question HIS rule. It's the perfect world for HIM. HE speaks and you either listen and praise, listen and keep your mouth shut or just plain leave.
Another truth is that HE loves surrounding HIMSELF with successful people, especially doctors (they come in handy for free medical advice and treatment) and the real-deal, successful traders who made it far before meeting up with the likes of HIM. But by all accounts, the Wooden one is just a so-so retired salesguy with nothing especially outstanding in HIS past for all of the years HE'S been at the side-game of trading.
But the real nagging question is this:
Why can't HE be as monetarily successful as Dennis? HE has far more years of experience than Dennis, and supposedly, the same mental and emotional fortitude to handle the discipline of trading in-the-large just as well as Dennis, right? But I look at what Dennis is doing with his life, with no other apparent means of support other than his trading, the gobs of money he spends left and right on that custom dream home and I compare that with what I see that the Wooden one has. There is simply no comparison.
Dennis can correct me if I'm wrong here, but I'm pretty sure that someone who has been trading for 25+ years SHOULD have the capability to turn a 20K futures account into an astounding sum of of money in a matter of several years. That is, if they're not just shining you on the whole time while you're buying into their trading methodology.
I'm not all doom and gloom. I just see some things better now than I did three years ago when I got sucked into that void and barely escaped in time to save my trading life. We all have to decide for ourselves what is real. There were a lot of very smart and very successful people in THAT room a few years ago and it took them quite awhile to see through the BSki, so you current sycophant Woodafiles, fear not, because it's not completely your fault that you're being duped. You're being duped by a very smooth operator.
Look. HE'S not ripping you off like the myriad of trading vendors out there do (aside from the worthless seminars that cost too much at any price). HE'S just as bad though. HE'S stealing your valuable time from learning more important things about the market which could prepare you for eventual success. Every day you spend in THAT room is a day you could have been learning more about price action and market internals (here, let me say that louder...MARKET INTERNALS!!!). But guess what? HE doesn't want you to look at what price is doing and HE certainly doesn't want you to get a better edge by mastering market internals.
One last thought because this rant is getting long:
Do the oppposite of what HE says. Instead, take the CCI off of your charts, grow to learn and love what price movement does. See how it relates on the e-minis to what the market internals are trying to tell you. What you'll find out is that price doesn't scare you. It scares HIM. That is HIS fear. Don't believe in HIS fear. Believe in what you see for yourself from all of the things that HE doesn't want to talk about. It is right before your very own eyes if you would just shut HIM out and let price action study and market internals into your trading.
hehe, you need THAT chatroom??? well it still exists. i guess the server was down. when you enter woodies site there is a little applet to download for entering the chawobzwtroomm.
Dennis, Glad to see you back up and running on the blog. Know you've been covered up with completion of the house. Sure missed your lessons.
Thanks and God bless...
kenton - E. Tn
It’s still there. There’s no reason for him to shut his web site down as long as he can keep enough suckers coming in to keep his hit rate high enough to sell ad space.
Of course it didn’t start out like this. You may recall that he got into trading as a hobby. If he made enough money with his one lot scalping trades to cover his commissions, it was a good day. If not it didn’t matter, since the guru game stroked his ego in ways his old sales job never could. And he was financially covered since his wife was still working. Then he discovered that he had gathered enough followers to get access to the world of the charlatans he originally criticized. So he graduated from small time egotist to a sociopath. Along the way he got many letters from desperate traders that were loosing large amounts using his methods. As obvious of a distraction as his chat room was to any kind off productive trading, he never suggested not being there. That suggestion would reduce the focus on him. He could not allow that. No matter how many people it harmed.
"So he graduated from small time egotist to a sociopath."
Hmm, let's break this down a bit from dictionary.com:
egotist - "A conceited, boastful person."
Check.
sociopath - "Someone whose social behavior is extremely abnormal. Sociopaths are interested only in their personal needs and desires, without concern for the effects of their behavior on others."
Checkmate and match.
If you want to listen to a moderator Dennis...go to http://home.wi.rr.com/ccitraders/index.html
TW has a lot more class than old Woodster.
But no matter how nice of a guy TW is vs HIM, what's the point? Trading the market based on a CCI pattern is late trading whether you want to admit it or not. You've been brainwashed to think otherwise.
The classic brainwashing technique is to show a diagonal trendline break of price in-sync with the trendline break on the CCI. Well, I submit to you that I wouldn't ever take a trendline break on price either: both are the wrong way to take the trade.
You don't need "confirmation" to take a trade. All you need is A NON-LAGGING METHOD OF ENTERING THE TRADE IN THE FIRST PLACE. A bounce of price from a moving average has been presented to newbie traders by HIM as "a zero line reject". Look, drop the made-up names. Why are you waiting for price to react against that line first when it's moving AWAY from your point of interest? It certainly does not increase your chances of the trade working in your favor. Price could very well have a small bounce and move hard against you (oh wait! that a "shamu", oh sorry, a "famir"!...but puh-lease, you lost anyway because you picked the wrong direction). The difference in profit that I make by "taking the trade at the moving average" (which is NOT a lagging entry, it is a point in time at a specific location, not waiting for something else to happen prior making the decision) over many, many trades vs the profit you get when we both have a successful trade OUTWEIGHS any stop losses that I have to take that you never see because your "confirmation" didn't occur. I also have the added advantage that your stop-out is either a small win or a breakeven for me.
If you took more time to study price action, developed a good system of supports and resistances and, MOST IMPORTANTLY, have the MARKET INTERNALS on YOUR SIDE to begin with, all of this momentum chasing of price going away from your primary target to take the trade is BOGUS. It's "bogus" because you think you're reducing your risk of loss and you're not.
Now, I didn't say that those who use the CCI above all else in their trading are doomed to fail. What I'm trying to say is that it doesn't increase your chances of being successful by any significant margin which would allow you to "make it" in this business. There ARE better tools to trade with and they're not the common momentum indicators out there or something proprietary that you waste your money on. The reason you don't see it is because you waste your time listening to that nutty old geezer instead of using your own mind to unlock the creativity, drive and imagination that all of use are born with to find SIMPLE THINGS that work (more times than not) in the markets.
I'm probably just talking to myself here but I see things so much clearer now that I've thrown "it" off of my charts and use price action and market internals IN RELATION TO the static and dynamic supports and resistances I key off of. I NEVER EVER EVER take a trade that is running away from me. I take trades when price is COMING TOWARDS ME. When you look at the market that way, it doesn't matter if you are trend trading (price pullbacks) or countertrend trading (price reversals). Either way, price is coming towards you and are at no greater risk than HIM of getting stopped out but with all of the benefits of picking a better location to enter a trade.
Oh yeah, another mind-game tactic that HE uses is to say the HE has some other super-duper CCI-beater indicator waiting in the wings should the CCI fail to give a decent edge over "the world"...and the sycophants go "oooh...ahhhhh" as though this were some team sport where the captain is somehow guaranteeing their continual survival in the spirit of "traders helping traders" (gag me). Or, HE will say that HE'S beating the 30 min CCI traders by using a 29 min CCI, just to stay "one step ahead." How much krap do you have to injest before it finally comes blowing out of your ears?
phil hit the nail on the head...the man shows all of the signs of sociopathic behavior. You don't realize it unless you've seen all of the things he's pulled on some very nice people over the years.
[This post is in no way done out of ego on my part in order to falsely portray myself as some great trader. That is certainly not the case. What is the case is that HE (or anyone who preaches HIS trading mantra) is the wrong way to go if you want to excel in this field of endeavor.]
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