Friday, May 09, 2008

Woodies CCI Club and the results from the AutoTrader

According to the website these statements that are being posted are from an actual trading account using the Woodies CCI Auto Trader. Now when Steve Matrix did this, well it took me about 3 days to prove and show in this blog that those statements were false...and the outstanding returns posted were just BSski.

These statements do not have a name actually attached to them, like Woodies CCI Club, LLC., Somewhere in the desert, AZ. Nor does it have an account number even if the account number is crossed out. But let's take a look at it non the less.

The statement starts out with $4,940.93 on the morning of the first, and took several trades and ended the day....DOWN.....$26.75. Not to bad, I guess, after all the market might have just sucked on Thursday. That's it....the market sucked on Thursday.

The AutoTrader does not trade on FRIDAY, we close the second day of trading for May out at $4,901.77

So here we are on Monday, beginning balance of $4,901.77 and again it found several trades during the day an after commissions we ended up $6.56. YIKES, it actually made like $20.93 but there were expenses. You know....$2.39 for commissions, NFA Fees of $.02 (WOW, someone actually gave the NFA their two cents worth), then we had the roll charge of $.58, a OTE fee of $11.38 and finally the net profit of $6.56. SO all in all we started out with $4,901.77 and ended the day up to $4,893.56. DOES THAT MAKE SENSE.......

So let's jump over to Wednesday with an opening balance of $4,808.34 which is $85.22 lower then Monday ending balance....something ugly must have happened on Tuesday.
Well, anyways......again there was that commission thing of $13.22, then the NFA Fee of $.14, for a total Profit/Loss of .....well......$72.20 IN THE HOLE AGAIN
And we end Wednesday with an account down to $4,722.78.

Thursday, May 8th, 2008 and we open the day with $4,722.78 and after several trades we settle up for $22.03 in commission, there is that word again, the NFA Fee of $.18 and a Profit/Loss of $5.79. Well at least we ended the week on a positive note.

SO, Let's review the AutoTrader since the beginning of May. The account started out with $4,940.93 and after 5 days of actual trading the closing balance is now....$4,706.38 For a net gain of $234.55. HOLD IT, that ain't right....8 plus 6 carry the 4, divide by .618 and invert the ghost and convert to euros.......WOW, that is a loss of $234.55

So where did that money go, well the NFA made like a buck during that period, so no big deal there, not sure what a OTE fee is or a roll charge, maybe that is for the broker pay for their paper. It would seem that the commissions got about $60.00 plus dollars and the rest went to whoever was on the other side of the trade.

234.55 in 5 days would mean that this system might lose $1,032.02 by the end of the month at this rate. Of course, the commissions from this would be around $260.00. By the end of the second month, a decision would have to be made, as the account nears the intra-day margin.....send more money or pull the account.

This is not something that I pulled out of my backside, these are the fact they provided for all of us to review. When Woodies does his thing, we always boosts about having the holy grail and everyone else is BSski, he invented the leading indicator, he can front running the world, and at worse, getting out a breakeven since there will be better trades down the road. There are these 80% winners all the time and you just need to buy the advanced workshop, the DVD because that will help you.....yada yada yada.

The AutoTrader up to this point has done what anyone else can and does on a daily basis.......loose money, pay commissions. I guess the post in Wikipedia about the just being a feeder for a brokerage house was about where the hammer hit the nail on the head......
But we will continue updating to see if things change for the better before someone has to send more money to keep the account going.......anybody want to step up to the plate on that one??????

Still waiting for someone to contact me about coming to the workshop and trading along side of me on Monday.....anyone just anyone from the cult???


Dan-PDX ---- said...

Hi Dennis,

I've been watching these postings daily as well and keeping track of them my TradeLogger. If the losses keep up this pace it shouldn't take very long to deplete the account, but of course the point of it isn't to really make money for the investor, it's to churn commissions for PFG.

I'll be helping in you keep an eye on this.

I predict that if the results continue to grind downward, this page, like the stats page will be pulled from the site as well.

Anonymous said...

First I thought I would add the stats for the first 3 days of the AutoTrader since they are removed each day and cannot be retrieved. The account started with $5,000 on 4/28 and there were 2 loss days and 1 profitable day of $0.38,if you count 38 cents as a profitable day.

I think one of the bigger issues here is what is the system and who is profiting. The last day you have is 5/8 which shows a total of 36 filled orders for a loss of $17. Does this make sense? I don't think so. Ooopps, I forgot the trading is done through PFG FX division and we all know that in FX trading the dealer pockets 2-3 or more PIPS on each order. Now 36 orders makes sense. 36 trades at 2-3 or more PIPS starts to be real money. I wonder who gets to pocket this money?

Anonymous said...


Wouldn't argue with any of your points but to be fair you are only paying the spread once per round lets see...18 RT's x 2 pips...that's still a very nice day for..............PFG.

Maybe we should all stop trading and become IB's.

Anonymous said...

I don't know if pips are paid on individual orders or round turns but I know Churn and Burn when I see it.