The second attempt....that is right the second attempt, meaning that the first one fell out of the sky in a ball of red fire, has ended. After just 20 trading days of the much to do AutoTrader it has been pulled from the market. Started on May 1 and traded on just Monday thru Thursday it lasted a whole 5 weeks, during this period of time a fee of $200.00 for just the "privilege" of using the AutoTrader, not sure who gets this money ...cough cough!!!! Then the broker did ok, with an average of around $16.20 a day in fees that comes in around $350.00 during this experiment.
Now no one would have a problem with the $200.00 or the $350.00 if one thing had occurred.......Starting back in May 1st the account had $5,000.00 in it to be traded, but on June 5th it only had around $3,950.00 and heading for a margin call for sure......that means that this system lost $1,150.00 in just 22 days or about 23%of it value. If it had made 23% during this period no one would mind paying all those fees....RIGHT???????
People over the past 6 years or so have sent emails complaining about the WoodiesCCIClub.com system and asking questions about if I had made it work for me. People have sent emails crying for help because they are at the end after spending time in the Woodies CCI Club. I guess now you can see that it wasn't you as much as the basic idea is not valid that is preached endlessly in their chat room. DrBob had the right idea in moving out to the 50, but that wasn't part of the Master's plan so DrBob had to leave.....along with so many others that found problems and were told to do that way or to leave.........
I wonder just how many people signed up to watch their hard earned money just disappear almost daily until the thing was pulled. Now, Woodie was talking yesterday about how over the summer months the system didn't work as well as other times of the year. YIKES, if this was a good period......holy crapola batman. So it's back to the drawing board for more research as the new version will be using range bars with the CCI patterns. I personally loved it when it was all about the Hank & Cindy bars as few years ago. Hold it, they didn't work either.
He also was talking about the fact that you can't go on just weekly or monthly stats......I guess not, after what we saw here......and both times..
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8 comments:
Nice to see, I mean hear you haven't lost your sense of humor.
Hope you're feeling better big guy.
glad to see you back! I hope you are feeling better!!
This auto trader is a GIGO....garbage in and garbage out.
Shit, not even I lose money that fast! roflmao
Great to see you back at it Dennis!
Art
It's funny, in the room last year, when Woodie was "testing" this system forever, he would report on and on about how it's making money hand over fist and would occasionally post some screen shots of the equity curve for it going up and up.
I'm sure this was a load of crap and he was over-hyperbolizing the whole thing.
My question is, what lemmings in the club that lost money on the thing is going to be coming back for more when they supposedly "re-tool" the system.
Anybody know what they are saying in the club about this grand experiment now?
LOL, I remember years ago him talking about the secret cci setting or something. He would post results and said when cci setting quit working he would release this new thing or setting. Ah to miss the good ol days eh? Glad to hear you up and around.
Don't forget the broker also gets the pip spread in FX. Probably equal to the $350 that was obvious.
These auto-traders are only a sweet deal for the brokers and programmers involved. Outside of that, they produce no money for investors.
If auto-trading really did work, the programmers and brokers would be locked behind closed doors printing money for themselves instead of being bothered with maintaining it for clients.
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