Ken “Woodie” Wood has been selling his magic CCI trading indicator since before the millennium. He is lovable, doddering old indicator hustler. He claims to have a 40 year history of trading successfully. However, there is scant evidence that supports that Ken “Woodie” Wood has ever earned a profit trading any security, whatsoever. After many attempts, and requests to validate his personal trading, Woodie simply refuses to verify his own personal trading record. However, Ken “Woodie” Wood is more than willing to allow us to spend ourselves into a financial oblivion with is mega menu of magic trading indicators. Absolute waste of time.
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What is Woodies CCI? Woodies CCI is a group of trading websites that specifically market different variations of one very simple trading indicator, the CCI or Commodity Channel Index. The indicator, according to Investopedia was originally developed by Donald Lambert, whom had written a book on the indicator back in the 1980’s. What many readers do not know is that the modern technical analysis movement got its explosive start back in the 1980’s. Why the 1980’s? Because this was when personal computers became cheap and readily accessible to the average consumer. And of course, humans will naturally gravitate towards what they have naturally done since the dawn of time, attempt to GET RICH QUICKLY.
Many of these computer newbies quickly discovered that they could standardize stock and commodity pricing data in ASCI files and then create all sorts of mathematical outputs with their home PC’s. These calculations of pricing data started off as simple moving averages, then became progressively more and more complex. One of the most famous of the 1980’s era was Wells Wilder. Look at any modern technical analysis platform and you will surely find Wells Wilder’s Parabolic, Average True Range, Relative Strength Index, etc. I am sure that many of you reading this are already aware very familiar with many of these common trading indicators.
The sad and simple truth about us traders is that we can easily become obsessed with technical indicators. We never stop searching for that one “Magic Indicator”. There is no end point, the deeper we search, the stranger and more esoteric the journey becomes. Wells Wilder, after he developed most of his math based technical indicators, which eventually were debunked, delved into some ultra wacky theories namely “The Delta Society“. Through the use of astrology, Wells Wilder claimed that he “could and would always predict every market turn, in any market, with amazing accuracy. All through the use of planet and moon cycles”. At one time, the Delta Society indicators sold for over $100,000 per user, however they can now be purchased for $75. No kidding. Ok, let’s talk about CCI…
The CCI indicator is quite simply nothing more than a child of those wacky years when technical analysis was in its infancy and everyone was attempting to cash in by creating and selling the latest and greatest math based, magic trading indicator. At that time, it was considered to be new, fresh, amazing, used intense mathematical calculations and somehow these fancy math calculations would be able to predict the future and unlock the riches of the financial markets. A lot of people bought into the story, until computing power once again expanded and allowed others to test these math based trading theories.
During the early 1990’s, a new breed of computing programs began to hit the market where a user could take the most popular technical trading indicators from the 1980’s and then back test these highly popular indicators against real time price data. One of the first and most successful companies to offer this back testing software was Omega Research, now known as TradeStation. The owners of the company, Bill and Ralph Cruz, a couple of traders just like you and I, were curious if any of these amazing trading indicators developed during the 1980’s could really predict the stock and commodity markets. And so they developed a program and a programming language where the trading newbie could in fact test a multitude of the most popular trading indicators. Bill and Ralph Cruz quickly realized that the industry was rotten to the core and decided to mass market their specialized software that debunked these wacky trading ideas. The software quickly became very popular.
By the mid 1990’s, pretty much anyone within the retail trading space that had enough courage to learn how to program trading strategies was beginning to learn the truth about technical indicators…they are not predictive beyond the random threshold. Nearly every single technical indicator is quite simply a fantasy of the minds conjuring. Smoke and magic where we place a higher emphasis on when the indicator is correct, and a lower emphasis on when the indicator is not correct. We look away when our wife or girlfriend stares longingly at the younger more handsome man, but we stare intently and highly emphasize when she serves our favorite meatloaf casserole. When the indicator is correct, the minds reward system greatly exaggerates the positive experience. But when the indicator is wrong, we look away, afraid to accept what we choose not to see.
As many of you reading this already know, there is a Chinese army of indicator salesman willing to take our money, and boldly proclaim to know which way the market is going in 5 minutes, 5 hours, or 5 days. For a one time special price, we can easily purchase these magic trading indicators that unlock the riches of the universe. For just a small monthly fee, all of our financial problems are a thing of the past.
I have written extensively about these indicators hustlers, in their many shapes and varieties. The one thing they all have in common is that they never can produce an account statement showing any profits from their magic trading indicators.
Ok, so now I have finally gotten to the part about Woodies CCI. Why not just begin this review by simply talking about Woodie? Because you really need to understand the history of the CCI, and the swamp that this Woodie character crawled out of. Ken Wood, aka “Woodie” is just another indicator salesman. Selling the dream to a bunch of naive newbie traders since 2001. This flim flam man has been around, selling the trading dream since Pacman was popular. Woodies hustle is selling that old, tired, and thoroughly debunked CCI trading indicator with a lemony twist. Not the original CCI, but Woodies own special blend of magic CCI lemony twist bullshit. In fact, he created a worthless set of DVD’s that can be purchased for $195. Why do I say worthless? Because the very moment that his strategies are programmed and tested, a person will quickly realize that his trading indicators simply do not pass beyond random output. In other words, its just more worthless dribble from yet another market fortune teller that has no scientific evidence to support his claims.
Is calling Ken Wood “Woodie” an indicator hustler and a market fortune teller really a fair description? In my opinion, absolutely. For years I have watched this guy appeal to the newbie trader and frustrated trader alike, conveying to the audience that if this nice old guy can do it with his magic indicator, then so can you.
Woodie loves to portray himself as this harmless, paternal, grandfatherly type guy, just a lovable guy looking to help traders be successful. He loves to pepper his website with pictures of Woodie standing next to Barbara Bush and Alan Greenspan, conveying his implied connections and personal admiration’s. Also included on page one of his website are links to the CFTC and the SEC, where traders can file complaints against
those bad people, selling shady trading stuff. Its all a red herring. The inclusion of these visual markers are quite simply, nothing more a distraction from what is outrageously obvious. And the outrageously obvious is quite clear, there is nothing published that talks about Woodies own personal trading performance. Does Ken “Woodie” Wood even trade? Does he even have a funded trading account? Does he have any sort of verifiable track record? Is there any proof that for the past 40 years this guy has ever made an annual profit? Hello, anyone?
A lot of you are going to be pissed off at me for going after the lovable Woodie. He reminds us all of our beloved Grandpa. We all trusted and loved grandpa. He showed us the proper usage of sand paper, and how to tie a knot to a fishing hook, and how to say thank you and be a cordial person. Yep, I loved my grandpa just as much as you did. But for just a moment, lets gets tough on Grandpa. Lets trip him at the top of the stairs. Lets hide his dentures for a day. Put his eyeglasses in the refrigerator. Let the dog run off with his hearing aid. Lets get tough on old Woody and try and figure if this trading grandpa has anything beneficial to offer to the trading community. The only way to know for sure? We need individual trading performance from Woody.
Trying to discover the truth about Woodie
For the past three months, using over a dozen aliases and multiple angles of inquiry, I have attempted to answer this simple and incredibly basic question…does Woody even trade? The first step was a series of emails directly to Woodie, simply asking for proof of trading results. After being repeatedly ignored, Woodie will finally respond and direct any interested person towards one of two different trading products. The first would be Woodie’s $99 a month chat room. Any live trading in this room? None. Instead, its a mosh pit of chatter from people that purchased the DVD’s or are currently spending $199 per month for the magic indicators and may or may not experience consistent success, and so they need more help, guidance, training, etc. What these newbies really need and want is to watch the master trade himself. And Woodie is more than happy to oblige…for an additional fee.
To see Woodie put on live trades and pull profits out of the market, using Woodies CCI indicators. A person would then need to purchase a live trading signal package that costs between $800 and $1200 per month. Yes, its expensive. And Woodie puts a cute little trick into the pricing plan…you don’t pay for the symbol, on any particular day that Woody loses money. This might sound like a great deal, however upon closer inspection, a person with a brain the size of a Spanish peanut can quickly ascertain that they are accepting all of the risk and Woody has zero risk. Woody flails away inside of his trading room, using only a simulator, trying to produce a winning day with various simulated trading symbols. No risk to him, while you are trying to replicate Woodie’s limit orders. And we all know how limit orders can be manipulated.
Does Woodie have a track record for his live trading room? Absolutely not. After multiple attempts, the best that I could produce was a garbled series of emails that say things like “got some winners this week”. Or a random picture on twitter that supposedly showcases how much money he is making. Really Woodie? The best you can offer is a random tweet every 3 months? Where is the spreadsheet of trades called inside of your trading signal service? You want the trading community to risk our hard earned money on your magic trading indicators and your carnival pricing plan, yet cannot even afford us the most basic dignity of disclosing a trading track record? Amazing stuff folks. As I watched this Woodie character operate inside of the trading room, I simply could not believe that any sane minded person would fall for this doddering old huckster.
Does Woodie offer a free trial? Heck no! Instead he refers potential purchasers to a customer survey that claims that “100% of his customers are satisfied”. This is about as credible as the time that Saddam Hussein got 100% of the Iraqi vote and had a 100% approval rating. Really Woodie? 100%? Why not 110% of your customers are satisfied?
Wrapping Things Up
A lot of readers are going to dislike that I really got after old Woodie. He is sort of a beloved trading character within the trading community. However, anyone with the drive and focus can very easily program all of his magic CCI patterns. Once you actually spend the time and hard work of coding and testing, the truth becomes readily apparent. And the truth is that the CCI indicator, which serves as the basis of everything he is selling, is nothing more or less predictive than a random number generator. Once you do the hard word and run the tests, you feel betrayed by Woodie. The perception of him changes considerably and we begin to ask a new series of questions.
I have also given Woodie more than enough opportunity to provide some sort of proof of his supposed, amazing trading abilities. However he simply refuses even the most minimal form of performance disclosure. Instead, he is hoping that we will continue to fall for his “trusty grandpa” routine. Well, Woodie I have been writing these reviews for over a year, and I have yet to find even a single person that I would outright trust. In fact, without the presence of a verifiable track record and permanently displayed trading DOM, then the vendor is very likely just another indicator salesman, looking for the next sucker.
And Woodie, your moniker of “Traders Helping Traders” as far as I am concerned is pure BS. Its about time someone has faced you front and center, and directly challenged you. Forced you into a corner where you can put up, or shut up. Nothing would make me happier than to come back in 30 days and draft a new review. A review that reflects at least some portion of your, supposed 40 year trading career. But something tells me that this is not going to happen.
Well that’s it for today. Writing about Woodie gave me no joy whatsoever. In fact, I found the process to be painful. Why? Because, in this world of never ending con games, chicanery, and petty hustles…we always like to somehow believe that the eldest among us are the most honorable and trustworthy. That their age and collective wisdom somehow insulates them from greed and avarice, however I have not found this to be true. Which is pretty sad. Thats it for today, please leave your comments below. And I really want to hear from the “Woodie Fan Club”, the comments section should bring some fun exchanges.