Tuesday, May 10, 2005

TeddiesCCIroom or WoodiesCCIroom

I just saw the following statement in a newsgroup I follow:

>>>I haven't gone to the Hotcomm room, perhaps I should..... I have just opened the Pal Talk room TeddiesCCIroom.......

So you came to the outcasts first.


If you really just trade the cci, you might be better off in Woodies room, as you won't get so many ideas floating around, distracting you from your goal.

In Teddies room you will find a lot more ideas, which might or might not work. You have to look through them or you decide, this and this and this trader is worth listening to. So if they post an idea, it might be worth looking into it.

3 years in Woodies room teached me a lot about discipline, focus and simplicity. Unfortunatly the CCI alone wasn't the system for me, even if I saw, what Woodie did could work and during an Online-TAL, where Woodie called the trades live, I made about 100% more than on a regular day. But I could not transfer, what I saw and learned in the TAL to my regular day to day spread trading. That’s by no means Woodies fault, it just was not my system, which I tried to trade.

Going to Tedies room, I was confronted with a lot of ideas, which I had to think about and adapt to my own system after deciding who is who and who is posting ideas worth looking into.

Never looking for someone calling a trade, never asking whether this or that trader really made the points he claimed to make.

I was and am still looking for ideas, which work for me.

There is someone called Anti, who posts a lot of ideas and is able to trade multiple systems and indicators. If you ask him, he comes up with a clear description of the indicator you had a question about. He just knows them. Does he trade them? I doubt it. He seems to be the trader who has reached this envious state of being able to let his trade go. Who really let’s the market decide, if the trade goes to target or not. He has a signal, he takes it and then the market has to do what it is supposed to do. Go from here to the target or stop him out. So simple and so difficult to achieve in daytrading.

I don't care, if he makes money or not. I don't care if his trades are real. I'm in a chatroom to get ideas and to bounce ideas around. If I see an idea, which might work in hindsight and I see someone claiming to trade it successfully, I give it a chance. I adjust my charts and see, if the tradesignals tell me something.

It's relatively easy to see, whether an idea might work for me or not. I know the contracts I trade, I know how they move and just by looking at a chart I can experience the pain, when I think about an entry signalled on the chart, which then goes against me first, before going to the target.

There is someone else, a women trader, who posts relatively seldom, but if she posts, it’s worth looking into the idea, even if it is not immediatly obvious, that it will help your trading. Still knowing, that someone, who trades for real uses a certain method or indicator, makes it worthwhile to look into this indicator. Sometimes you need to give things a chance to prove themself.

In WoodiesCCIroom you will not have these problems. Go away and come back 2 months later and you will still recognise, what is traded and how it is traded.

In Teddies room in 2 months everything will have changed. Maybe we trade the stochastic, maybe we trade the Aroon or a discretionary daily bias indicator. Who knows. This room is fluent and changing. Having new ideas, discarding others, comeing back to old ones. If you like that, if you are able to identify the ideas, which integrate well with your system and disregard the others, then Teddies room might be something for you.