codehead

Just saw this--you probably have this figured out by now, but if not ping me.

It also puts up trade signals at or near those zones (but not all of them). I don't know what it's looking at, at this point.

 

OK, I think I was over-thinking this. A friend who introduced me to the zonetraderpro said he had talked to the guy and thought the indicator was looking at $TICK, so I was expecting something more sophisticated. After looking at it more, I don't think it's looking at anything other than price. I think that if price doesn't make it to the expected fib on bounce, or maybe within a tick or two, then when it pulls back to an expected support, that support is not signaled as a buy because the price action is perceived as "weak".

I can't pay the videos?

 

Ancient Microsoft proprietary codec--works under Windows Media Player.

The red or green zones, depending on direction, are a line at .382 and a block at .618-.786. If it gets past, the light blue zone is 1.50-1.618. If it gets past that, a magenta line at 2.50. Like I said, there is some directional rounding, so some of these numbers are exact in one direction, and off a little in the other.

Do not I repeat do not buy this.

 

It is a fibonocci retracement indicator. The dots are the 38.6, 50% and 61.8 % zones.

 

That's all it is. It plots from most recent pivots or tries to. It does a pretty good job of picking pivots .

 

First, there are no dots, so you're probably talking about ZoneTrader and not ZoneTraderPro.

 

Here's what ZTP does:

 

It puts up a .382 line, and a .682-.786 block (some apparent rounding--the bounds hit exact .618 but not quite .786 on the up moves, but exact .786 and not quite .618 on down). If it goes past, it also puts up a zone at 1.50, and past that around 2.50.

 

It also puts up trade signals at or near those zones (but not all of them). I don't know what it's looking at, at this point.

 

They have a BarColor indicator that shows when to not trade. This one is so simply I can't believe they bother to protect it. You put it on a volume-bar chart, and if the move is more than a certain amount (default 6 ticks), it's apparent that the bids and offers are thin (you'll see this right after a scheduled FOMC announcement, for instance). You can see this if you watch a bid/ask ladder anyway.

 

There's another indicator for lifetime members, which signals an "exhaustion trade". I don't know what that is at this time, just started looking at it.

h@@p://wwW[.]4shared[.]com/dir/89uq53G9/sharing.html Password: pro

 

4shared says, "The file link that you requested is not valid."

the only indicator you can get for this program is Macd.

 

Not true. Most of the indicators are trivial (simpler than even the MACD BB), such as the ones they use based on linear regression moving averages. However, it's true you can't get the automated fibs and symmetry, not the current version anyway.

The nexgen macd-bb is basically...

 

Plain old MACD, displayed as dots...

 

with Bollinger Bands...

 

If you just do that, you are probably close enough for rock 'n' rock, but they actually smooth a copy of the MACD (not plotted) and use that to calculate the BBs--it makes the BBs smoother.

 

Now, you could just make the dots red when below the previous and green above, and that will work, mostly, except that they use an unplotted ("ergodic") TSI for the trend, with a moving average; when the moving average is below the TSI, then TSI is in a downtrend, above it's in an uptrend; if TSI is in an uptrend and MACD is above the lower BB, dot is green, and if TSI is in a downtrend and MACD below the upper BB, dot is red--otherwise dot is black. (Nexgen seems to have changed this in the Ninja version, because it doesn't plot black dots.)

Does anyone develop the enter rules and exit rules based on the above indicators yet?

 

These are two nice indicators (macd-bb and ergodic/TSI), but they show roughly the same thing. I suggest picking the one you like. Both are lagging indicators. Personally, I like accompanying this type of indicator (I like the macd-bb implementation, mainly because the spreading of the dots makes it easy to see momentum, but the TSI could be coded to do the same) with Stochastics of RSI. Stoch-of-RSi is a leading indicator, and can clue you in to a weakening trend well before the turn, so you can be prepared to enter when the other indicator shows the turn.

 

But, of course, these are just indicators. They can help you get an edge, so that you get a decent entry and in the right direction, but most of the trade is in the management. I'm sure eggzactly nuked his own thread because people were expecting him to give them a magic formula. Folks, if it was that easy, we'd all just code up that strategy and head out to the beach or go for a round of golf while the computer made us money.

... they were instead working on having people pay a fee to use more of a black-box system, where their account was traded for them by an automated system managed by the broker. That never came to fruition, as far as I know.

 

Oh yeah, it was call the "100 club"--IIRC, they would accept the first 100 people who paid to be a part of it. It was dissolved and I believe they returned everyone's money. The point is, if they had been able to automate it, they would have.

 

Whew, just there's a lot of soap-opera-type info available on the web about Woodie's CCI Club--I had read some of it before, and knew some of it from being in the room at the time, but picked up on a few details. For one thing, I joined shortly after "Dr. Famir" (Firouz Amirparviz) died, which was late 2004; Woodie had renamed the "Shamu" trade as the "Famir", in his honor. What I didn't know at the time was that the doctor had committed suicide--according to some sources, due to having lost his money trading CCI.

 

Most, or all, of the moderators I used to listen to where either booted for adding non-cci techniques or they couldn't make cci work and quit. I see that even gb007, for which the "gb100" trade was named, eventually bail (wondering if this course still calls the trade by that name, or they renamed it?).

 

One last point on the CCI itself. The CCI calculation involves calculating the price deviation from the moving average. So, basically, you'll be looking at the de-trended price action. That is, when price is moving up steadily in a line, CCI will be moving sideways in line. This makes it much easier to see changes in the strength of a move.

 

Search for Tucker Report and CCI for an interesting analysis of the CCI.

I was thinking a bit more about my history with Woodie's CCI...

 

Some time after I began to follow his room, Woodie pushed for automated trading. He contended that people failed with his CCI techniques due to emotion, and if you could get a monkey to follow his rules, he'd make money. So, a CCI "monkey" was pursued.

 

The first try with with TradeMaven software supported by broker PFG. Initial scripts were written to trade the ZLR and a few other patterns, and touted as having some initial success--they'd report each day how much the monkey was up, etc. I signed up and started trying it on real money, and it wasn't working well so I stopped before I lost much.

 

In the past few years, I look in on what they are doing every once in a while, and they've tried several different trading programs for automated trading. They always seem to be reporting that they are making progress, but I've never seen a history of success with it.

 

I recall at one point that instead of trying to develop trading scripts and giving people free access to them, they were instead working on having people pay a fee to use more of a black-box system, where their account was traded for them by an automated system managed by the broker. That never came to fruition, as far as I know.

 

If Woodie's claim that his method was simple and worked, surely an automated system would be successful. But several years later... still nothing that I know of.

 

Again, I think his method can be very useful, but I think the claim that you can trade it with no other input can't be supported.

Anyone has tried this Woodies CCI method ?? :-??

 

I haven't seen the course. A few of years ago, when starting out trading futures (I was a stock trader for years), I followed Woodie's CCI, in his hotcomm room. A few comments:

 

It's a nice and useful indicator.

 

Woodie pushes it as the key to trading success, to the point he advocates trading via the indicator alone, without a price chart, and no other indicators (his version of CCI does have some least-squared moving averages and other things build it). He claimed to do this himself.

 

When Woodie called the room, I was always impressed that he seems to know when to scratch out, and when to stay in for a really big move. People sometimes claim that he doesn't trade, but he seemed pretty adept at it to me.

 

Some of the other moderators were very good traders, and used Woodie's CCi along with other methods. Woodie ran these people out of the room. He wanted pure Woodie's CCI.

 

The moderators that were left didn't seem to be highly successful. They'd make the calls for the sessions, but when asked how their own trading was progressing, it would be like, "my trading is improving and coming along--most days I make like $50 now. Usually."

 

I popped into the room quite a while back, and commented on a developing pattern "on the 3 minute chart", and was scolded pretty quick about it, since they had moved to range charts since I'd been gone. They didn't want any talk of minute-based charts any longer.

 

I think it's a very good indicator--much better than most. It's no holy grail though--none of them are.

Hmmm, the deletion of those threads took most of my posts with them, and I'm only showing 2 posts all time now--not allowed to pm--lol. No biggie--thanks for the original input and sharing ;-)

 

("OTS FX Signals & Expert Advisors" is your company, I take it?)

You are probably using Avira AV, get a better AV :)

 

Yeah it was, but normally I don't run any AV software--to check this d/l out I looked on Leo Laporte's site to see what he recommended, and it was one of a few free ones. Usually, I just run a few off the shelf apps (mainly trading software), and stuff I wrote (either for personal, or for $), on Windows. I do everything else on Mac OS, including anything that exposed to viruses (email, web, etc.). But if you have a recommendation for something free, I try it next time, thanks.

What virus ... must be a false positive :)

 

Nope. I just took a snapshot of my system (so I could revert), did a virus scan (clean), installed DT6 and the key injector, scanned again, and detected HIDDENEXT/crypted so far (still running).

 

I love it that the accompanying text file goes out of its way to assure users that it's virus free--that always makes me skeptical ;-)

 

Yeah... HIDDENEXT/crypted in the supposed (according to the readme) "Cleanest, Simplest, VIRUS FREE key Injector" file.