Friday, September 12, 2008

The Auto Trader has hit a tree in the middle of the woods.

It was a grand event, big time promotions at the Trade-a-Longs...I mean workshops, it was pumped up as the greatest thing since chocolate met peanut butter. And the experience started with moderators promoting the Auto Trader. I am sure that they all were using it, in real time, and had first hand knowledge of how it worked and had seen the performance first hand. While else would these good hearted people who were trying their best to help others promote this if they didn't have first hand knowledge.....RIGHT? It was May 1st when the Auto Trader began it's journey with $4,940.93, however, that first day it had a losing day of $26.88 (I have the snap if you don't) but we all have losing days right from time to time.
But over the past 4 months as Kenny would say, "You can't look at this short term, you have to stay for the long term," the Auto Trader continued to have some problems until the 1st of September when it was pulled, and now has been totally replaced with the next generation of the Auto Trader. The ending balance for the experiment was $2,650.29 with a losing day of $45.04. this was to be the best system ever developed by Kenny himself, his ideas, his 37 years or so of endless research ended up losing just over 46%.

HOLD THE PRESSES: This ain't no PFG thingie, now it Ninja Trader who is up now.....hummmm, I have to think about this. It started out with free charting, then it went to testing Trade Station and Bill said, "No thanks." Soon he was off to eSignal and the special template, with a discount if you signed up thru the website, the best part was that a donation would be made in his name.....HOLD IT AGAIN, I think I checked that out and eSignal said there was a deal, but not that one.....then we were off to PFG Navigator.......hmmmmm....and now Ninja Trader????
Let's review:
First, after this little blog hammered at the theory that something might be wrong with the donations to Make-a-Wish from all these Trade-a-Longs that PFG sponsored, then Mplay exposed more problems the logo from MAW was removed......

Second, then after the last Trade-a-Long which was sponsored by PFG, the next one is on the web, and there is nothing about PFG anywhere, I wonder why?????? You know I wonder A LOT about things....:)

Third, after 4 months of pounding and promoting the PFG AutoTrader, it now has just dropped off the website and is replaced by one from Ninja Trader......

Does this mean that PFG has figured out sometime that others of us have, in time, also figured out. Now don't worry, all you Kool-Aide drinkers, it's all about re-inventing yourself......and no need to point out who is the "MASTER" of that one.


Bob and Cathy said...

Nothing seems to change over there at the woodshed. PFG wised up and now on to the next victim.

I finally just gave up on trading. Kind of had to running out of money from all the scams. We are starting a new business with money we have saved working.

Well, I could have opened up a new trading room like all the others I know from the woodshed. Been just like my mentor Kennie and not shown a single statement, told everyone to just take it on faith that I am the trading messiah. Maybe gotten away with it too.

But I would rather sleep at night knowing I had not scammed anyone that day.


Dan-PDX ---- said...

It's amazing all of the different auto-trade gyrations that keep coming out of WCCI. It seems like they always have some auto-trading package du-jour at any given time.

But the bottom line is always the same. I've spent several years programming autotrading WCCI into a couple of different platforms myself and let them run extensive tests. No matter what the platform, the results are always the same: That is, if you program the WCCI system to autotrade, you WILL lose money. The WCCI trading system simply, plainly, without bias, is a system that does not produce profits over the mid to long term. Sure you can have a good day, or even a good week, but over the course of a month, two months you WILL lose money.

This has been clearly demonstrated over and over again by many programmers who have been through the club and have carefully programmed the patterns, the stops, the profit targets into various platforms, thereby eliminating the emotion as Woodie would say.

None of these autotrading programs, including the ones I've spent countless hours working on, has ever produced any income that I have ever heard of. And if an emotionless autotrader cannot produce profits using WCCI, then how would one expect a human manually pulling the trigger to possibly produce a living with this flawed system.

Woodie may change the autotrading platform du-jour once a year or so, but the results will always be the same if they are programming the basic WCCI, losing, losing and more losing.

Think about this, Woodies' proprietary auto trading system through PFG was supposedly a culmination of his years of study, tweaking and testing, and yet it too lost almost 50% in only a few months. The "Master" cannot even make it work for himself. I feel bad for those that invested real live money into the trading system at PFG because they are down big time, not to mention the hefty monthly fees being charged just for the right to lose their money.

It's also interesting to note, if you check out the links to the newly touted Woodies Ninja Trader system, these guys are charging you several hundred dollars per month just to use the Woodies auto-trading in Ninja. Again it's clear, the only way you are going to make money with WCCI, is to come up with some tool or system to augment the CCI and sell it. PFG put the squeeze on me to sell my free TradeLogger program (AND supposedly give a chunk of the profits to MAW). When I declined and continued to give it away for free, the mood towards me turned rather frosty. Hmmmm.

Anonymous said...

Another little interesting nugget...the address of this DesertSoft bunch is within a mile or so of Woodies house...strange coincidence...don't bet on it.

Anonymous said...

Now, I don't know anything about the Make A Wish stuff. I've only been using the WCCI stuff for about 6 months.

I will say that the Auto Trader does indeed work well, but you cannot use the room settings. For example, the room uses a runner on every trade taken. I configure the Auto Trader to go all in all out and I keep my targets the same as my stops - forget about the runner. I have done very well in these volitile markets and hope to continue doing well as I move forward. By the way I have ZLR trades turned off.

I think using Woodies patterns do give you a very small edge, but the best way to realize it is by keeping your risk and reward the same.

I'm not defending Woodie at all. I am just stating my findings so far.