Preparing For Your First Trade   


Each and every trade from the very first one you make should always follow the strict guidelines in this document. Do not change the methods and guidelines you have learned until you no longer need this document. If you find yourself failing or frustrated then stop doing whatever it is you are doing and go back to following this document.

It is suggested that you use a front-end tool that allows you to automatically send stop-loss orders upon position entry, track your trading results for the session and paper trade using live market data so that your results are more accurate.

Also be warned that even when using these front ends your trade entry and exits will not be exactly like real market conditions. These front ends cannot get you in the order queue as it is in real trading. With this in mind, if and when you go live consider trading only one contract to start with until you get the feel for how your live orders will get filled.

It is also suggested that even before you start to paper trade Woodies CCI that you become very good at spotting the CCI Patterns. Start with 1 market on 1 chart only just as we trade in real life. Spot Woodies CCI patterns, mark them on the chart as you go so you can review them later. When you are comfortable and spotting all the patterns that you are working on then move on to watching 2 markets at time and so on until you can recognize each pattern and the location of the entry and exits for the trade. Do not follow price or track winners or losers yet. Just focus on the look for the pattern. This should take many weeks.

Remember, do not track the prices during this time. Just spot Woodies CCI patterns over and over and over and over again all day long. Focus on spotting the entry and exit signals on the patterns. Get familiar with all 8 patterns over time. To begin with start with pattern number 1 and build up to all 8. Take your time with this training. Do not rush this training whatsoever. It is very important for you to master the CCI patterns, entry signals and the exit signals. Do not stop this training until you have strong confidence in spotting Woodies CCI patterns.

The benefit of this training is that it allows you to focus on the most important parts of Woodies CCI, which are CCI pattern recognition and CCI entry and exit signals. Also, it trains you to not follow price. Price is not needed and serves to scare and confuse you. It will only work up your emotions and force you to start making decisions that are not part of Woodies CCI. Just follow the patterns and signals.

Next, using a front-end tool that uses live data, start paper trading Woodies CCI system. Start back again with 1 chart with 1 market only. When first paper trading Woodies CCI only trade with 1 contract. The reason for this is so that you become completely aware of exactly where you must take your first exit regardless of how many contracts you are going to trade. You are now going to start tracking winners and losers during this process. Paper trading this 1 contract and becoming consistently profitable will take  many weeks and months. Do not become discouraged. The more trades you take the closer you get to mastering the system.

The closer you follow these guidelines the sooner you will see more winning trades compared to losing trades. Also you will see smaller losses and larger gains on each trade. This is the goal. Do not stop this training until you are consistently following the rules for many weeks and making profits consistently as well. Do not add another chart whatsoever until you are mastering this.

After becoming profitable and consistent trading 1 contract on 1 chart and 1 pattern then you can either add 1 more chart or add 1 more pattern. It is recommended that you add 1 more pattern instead. This way you can become a master of Woodies CCI on a specific market and learn how it moves. Lots of people only trade 1 or 2 markets and only trade 1 or 2 patterns. Some experts only trade 1 CCI pattern, with a CCI confirmation signal added, all day long.

Once you progress to the point where you fully understand Woodies CCI patterns, entry and exit signals and are consistent and profitable using 1 contract then add 1 more contract for a total of 2. Remember, when trading multiple contracts on paper or live, regardless of whether you are new to Woodies CCI system or an expert at it, always take the first exit at the exact same place you exited when you were only trading 1 contract. This is the part of Woodies CCI system that automatically takes care of taking some profits out of the market and protecting your remaining position if you are trading multiple contracts. Just do it. This is another inherent and automatic part of the system that protects your profits.

Comments on paper trading Woodies CCI system:

 

 

 

 

 

 

 

 

 

 

All you are doing when you are successful at Woodies CCI is waiting for a pattern to scroll by. You enter based on Woodies defined entry signal and you exit based on Woodies defined exit signal. 

Do not make things up. Do not follow other peopleís trades. Do not follow other peopleís methods. Focus on your trade only.

Do not watch prices, do not get into hope mode and do not wish the pattern would turn your way. It does not work that way. Watch the CCI pattern only. When you see the exit signal then exit. Your hard stop-loss orders will protect you so do not worry.

Do not watch how much you are making or losing on the trade. Watch the CCI pattern only. Again, your hard stop-loss order will protect you.

Do not do anything but wait for Woodies CCI pattern to scroll by. Wait for an entry signal. Then enter the trade. Then wait for an exit signal. Then exit the trade. Period.

You are in Woodies room to learn Woodies CCI. It is an excellent system already. So do not do anything else except what Woodie or this document tells you to do until you do not need these guidelines anymore. 

Quit trying to add things like you learned to do from trading books, in other chat rooms and on other websites. It has probably led you to horrible results, addition of many lagging indicators and poor trading skills. You need to keep your trading system super simple and just follow the guidelines. You do not need anything else to become a successful trader. Woodies CCI defines it all for you. It may seem like things are missing but you will ultimately see that by following the rules you will be guided into controlled, consistent and successful trading.

Do not deviate from the guidelines. Do not add things. Do not think. Just follow Woodies CCI system guidelines as stated in this document.

Do not use your old methods when learning Woodies CCI system. Itís not part of this system. This system is complete and tells you not to use any other things to trade with. Other systems never told you that did they?  Well, this one does so donít do it.

And donít tell us you need to add things or watch price. We giggle to ourselves when we see people post that. We know better.

You are here to learn Woodies CCI so why not just follow Woodies CCI.