You can click on the picture to read it for yourself........Since my name was referenced in one of your posts I felt I needed to chime in and clarify my experience. Feel free to republish this if you wish with my name.
To start with I didn't leave WCCI because of any of the revelations I am reading about here and other places. These insights are new to me as of the last 2 days. I decided to stop moderating at WCCI almost 2 months ago and I honestly had no idea about some of the severe accusations and allegations coming to light. I'm frankly feeling stunned and ill.
I left moderating after nearly 2 years tenure at WCCI because of one simple, resounding fact....I could NOT make any money from the system. I traded like a robot, had no emotion, no fear, strict strict rules to abide by, did my stats and spent nearly 2 years of full time work involved in trying to get "just a little bit better, just a little bit better and then it'll click in". When I realized that I myself could not make money doing the very very best I could and being admired and so heavily complimented by many new people for my moderating, I had the realization that I am just contributing to giving people false hope. I couldn't live with doing that. It didn't start out that way of course, but once I realized that this just doesn't work I could no longer continue to encourage so many sincere and nice people to do something which they seemed to admired me for doing. I don't know if that makes sense but that's it.
Also, the truth of the matter is, I put aside a computer animation business I've had for nearly 15 years in order to trade. At about the same time I realized that I could no longer make this work I was given an opportunity to revive my animation company in a large way and go back to do what I have always loved doing...digital imagery. Maybe it was fate, maybe a coincidence but I saw one door closing (WCCI) and a new one opening back up again and as any good trader, I had to cut my losses.
I have been so busy in the last month or two with putting back in place my company that I haven't had time to peruse or be around WCCI, but recently I started getting emails from some good friends from there asking me about this and that and the other stuff. I had no idea. After a little digging and some conferencing with some people that I admire for their personal integrity I am sitting here numb pondering all this.
I've always known that people didn't like WCCI, but it seemed everywhere you turned in the trading world there are people always slamming everybody, it seems to be the nature of the business so I didn't really think to much about it. If some of the things I'm reading are true, or even partially true, then I'm greatly saddened. Did I leave because I "knew stuff about the goings-on behind the scenes"? No, had no idea. I left because of one simple fact...I could not make money with it and therefore I couldn't in good conscience act like some sort of mentor to others looking for guidance as I did when I first joined WCCI 2 years ago.
However, it was a little irking to me about the level of control that WCCI wanted to take over my free program TradeLogger and tell me what I could and couldn't do with it and who could and couldn't be allowed to use it. I wrote it for free for everybody, all traders, not just WCCI traders and I won't go into detail about how several parties of leadership were trying to control it even though I hosted it on my nickel and continue to do so. For what it's worth, that program did help mitigate many thousands of dollars of my losses so it would have been much worse without it, but despite it, I still couldn't make a living trading the CCI system.
Dan-PDX
P.S.: Your name sounds familiar...do I know you from the club?
Best regards,
Daniel Underhill
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14 comments:
Do tell.
Are there other factions in WCCI that have some sort of control, other than Woodie and Tony?
How dare they try and control your software. Same shit different day from that place.
The last paragraph in Dan_PDX letter speaks to the real underlying issues with Ken Wood and the CCI club he runs. He leads people to believe it’s all about “Traders Helping Traders”… But when the truth comes out it’s really “Traders Helping the con-man Ken Wood”. Wake up folks this man is a fraud pure and simple. Honest people like Dan_PDX have given with a pure heart only to be taken advantage of by this fraud Ken Wood. Many of the moderators are in the same boat as Dan was. They have been deceived by Ken Wood and his con-game.
This blog has been on the leading edge exposing publicly what others have known for years about Ken Wood. His club has about 300 active “New Traders”. Contrast that with the 20,000 that registered but left.
If the club had any merit the number who stayed verses those who have left would be different. It’s simple a con-game for the uninformed.
It now looks like the moderators are becoming wise to the idea of being used to support a con-game. It is very sad to see how long it takes for the truth to get to the surface. A bit late for those like the family of the late Dr. Famir who trusted Ken Wood, and trusted that he was speaking the truth.
I am anxious to hear the experience of Dan Allen aka TCBoon. I see the famous CCI stats have been removed from the Woodies web site. I wonder how much control Ken Wood will want over Dan Allen’s work. Was Ken Wood using it without permission? Dan Allen what happened, inquiring minds want to know? I salute the moderators who have the courage to expose this creep Ken Wood.
Friend of the late Dr. Famir Robert
Hi
Dan
I want to thank you for giving the trade logger a great tool. I hope catwomen is doing well trading
I propose only a moderator, who is profitable in trading a particular CCI method, is allowed to teach that method.
To the first post.
PFG is the broker that keeps fraud game in action. They collect the commissions on the new accounts. Because making money at any cost is what they are all about, you have to understand that they will help Woodie get away with murder much less a host of other unethical crimes.
The NFA Compliance Rules 2-3 states that "the Members and Associates shall observer high standards of commercial honor, and just and equitable principles of trade in the conduct of their commodity future business”
However there are those at PFG who feel they are above the very rules they said they would observe. The arrogance here by PFG makes me want to puke.
PFG is scum just like Ken Wood
No more Hall of Fame photos on the front page. I remember when woodie started that, no one wanted their picture on the front page. I had one heck of a time getting any of the moderators to send me theirs. Hanksterr sent me one of him in a frizzy wig....hurricane Hank! Woodie was NOT amused. lol.
The previous posting has it right!!
I am the person who posted the response in a previous thread regarding PFG, to which there were no responses.
Dennis.... if you read these things, PFG is your target. PFG legitimized this whole scam and perpetuates it. Without PFG's tacit approval of the operation, it would have it’e legs removed from under it.
The trade a longs and the SFO ads make him think that his BS actually has substance. The truth is what Dan said. The whole thing just presents a bunch of hypothetical what ifs that are not profitable.
Woodies CCI C (rap)lub is a small fish in the pond for PFG. They don’t need him and should be informed of what the reality of his BS is.
Tell Neil to hit the road and tell the upper levels of PFG management that they are supporting a fraud!!
I was going to recommend that anyone who wish to have their photo, profile or information about themselves removed should have their lawyer contact the Woodies CCI Club ISP with a Cease & Desist letter. In many cases a site can get shut down for such infringements.
Looks like someone already did so and they complied.
As I mentioned previously, I was once contacted by PGFNeil informing me that he "needed" to move my account to PFG. As a mod, I would then have to give up my first front-end trading platform, which I loved--Trade Maven--because it required that I switch brokers. Just didn't smell right as I watched ALL of the other mod's and high-profile members sitting aroung what became the PFG / Trade Maven Support room on HotComm to offer advice ... and marketing cheerleading. Even Kate, Razzzz, and other stalwarts. It was weird.
Kum Ba Yaaaaaaaaaaaaaaaaah ...
(swilling koolaide ... burp)
I was curious as to what was on offer in return for their switching brokerages and lauding PFG / Trade Maven to the exclusion of all other services.
"Nothing", they said. Seems it was such a great deal that they were compelled to camp out in the new PFG / TM support room and spend time posting there rather than trade.
I switched to Ninja Trader at that time, because it didn't feel right to stay with TM. And Eman was nice enough to help me to acclimate to NT. I really loved Trade Maven too, but not enough to risk my account with their new brokerage.
I couldn't really put my finger on it, but it felt as though someone felt entitled to both me and my money as their very own resources, to use as they so wished. Despite the heavy marketing and pressure, I "erred" on the side of caution and declined to join the chorus of TM / PFG cheerleaders.
So many whom I met in Woodies room taught me to look out for such. Thank you, ALL of you, for that.
While I left Woodies room in June 2006 when we were chased down for having our own HC trading room (how dare we trade our own way with our own accounts?!) I'm very grateful to have learned from the great teachers and friends whom I have met among the refugees. Because of whom I did meet and interact there, trading will continue to be an important and lucrative part of my life.
I'd be much worse off trading Woodies method, in and of itself.
Best,
Angela
So what is happening or where did that guy that woodie slobbered over that as moderating? You know the one where he could do no wrong. Young kid, parents gave him everything. The one that said he woke up in the morning and put on a suit to start trading even though he is at home. That guy was so obnoxious I couldn't stand it. He was that surfer that alwasy sounds like he is unders stress but tries to act like he is in control. Anyone know that guys name?
Also, what took so long for the old buy to leave the room? What was his name? He also had that attitude that attitude that we must follow woodie or nothing at all. 007 or some BS like that?
They keep dropping like flies.
When will woodie kick the bucket and we can have some peace ourselves?
What Dan and everyone else really discovered though is that you cannot trade the futures so rigidly with a 14 period anything. You could have used an RSI, MACD, Stochastic...it wouldn't have mattered. You would still have failed. Your trading was so muddled in noise that you really couldn't tell s**t from shinola.
Now, mix trading noise with no solid understanding of how the market internals are working against your "momentum trades" and then it's only a matter of time before you're forced to quit.
Let's review:
1. You were too close to the market with what you were watching so you get a lot of false signals.
2. You didn't know about market internals so they were in a position to hurt you instead of help you.
3. You trusted more in someone else's market method more than you trusted in your own based on self-discovery, independent research and, let's face it, after enough experience, common sense comes into play here too.
4. Finally, you put all of your hopes and desires into one basket that wasn't yours in the first place. You are entirely spent, intellectually and emootionally. So you decide to quit.
Why don't you do something really special for yourself now, Dan. It may take you several years, but now you're in a position to learn the RIGHT way to trade the futures at your own leisure. Take your time this time. Even if it's just one trade every morning, like Dennis's (FBT...first-bar-trade). EVEN if you SIM trade that one trade every day for ONE year on whatever number of futures markets you please.
The difference this time is that you're empowering yourself, you're no longer under any pressure and your mind can relax. What will happen next is truly wonderful. Your creativity and imagination will come back into your trading and you'll see things you were quite blind to when just listening to some COMPLETE FAKE for so long. In short, you'll enjoy trading rather than thinking of being some kind of robot taking noisy patterns based off of a 14 period moving average.
You don't quit because you tried some other guy's stuff and it sucked. You quit when you know you've got a good statistical edge in the market and you still cannot make money with it. That's an indication that, for whatever reason, you don't have the insides to trade well.
Dan, go back to your animation job and enjoy that. Don't go back to trading full-time for a long, long time. But doing it part-time, just one trade a day, can pay for a lot of vacations and add to your retirement.
These are a few of the names (only from memory) that have disappeared over the past 12months. Many many great people vacated long before that. Here's the few that I can remember:
Doug_TX (Not sure if he moderated but supported in Forum)
Snowman (A great entertainer who couldn't get WCCI to work)
CJ/OG (Autotraders that openly disclosed that they never traded WCCI, in favor of moving averages etc, lol)
Lotus (Another autotrader who did it 'her' way)
Renshi (Added his own style to CCI to make it work for him, but not for Woodie)
MPlay (No idea what he actually traded, but not WCCI)
Clint_TX (Recently admitted he couldn't get WCCI to be profitable)
Dan_PDX (See his email)
GB007 (Never used WCCI as taught, far too sensible for 1:3 R/R ratios as used in WCCI, lol)
Nicker (Never WCCI profitable)
REV (What a story that is)
So who does that really leave? and for how long?
Keith FL was that guys name. No idea if he is still peddeling woodies crap.
We talked privately several times and he admitted that is was not working for him but that he needed to give it more time.
Question is then why did he not admit to it and what was all those after the fact trades that worked so well?
My, my, I thought I was alone in my bad experience with Ken Wood. I feel foolish for allowing myself to be intimidated by Woodie. When Woodie learned I was in someone else’s HotComm room, I got the cold shoulder treatment, and he refused to speak to me. Wow ..what a shocker. I did learn to never go into someone else’s conference room. Then I played the suck up game to get back into favor. . I know first hand the fun poked at the CCI’ers drinking Woodies Kool-Aid. I was so desperate to try to find some trading method I was willing to tolerate being manipulated.
I have learned there is a better world outside of the CCI club. What a fool I was.
and so all memories of Dan_PDX have been removed including his software. So much for traders helping traders, why remove a tool that many people are using?
Now I really hope that place crashes and burns.
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