About Pip My System

Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new to the blog you should read this first.

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Cowabunga System Daily Update- 01/17/06

Posted 18:12 17 January 2007 | Comments

Main Trend

Current Trend= Down and Up

From 11:00 pm ET to 3:00 am ET I was only looking for short trades. The rest of the day I was only looking for long trades.

Today's Surf

There was a moving average crossover to the upside at 11:00 pm ET. All the indicators matched up but the only thing holding me back was the fact that my overall trend had changed to bearish, which means I was only looking for short trades at the time. The upward move from 11:00 pm ET to 3:00 am ET caused my main trend to shift from down to up, and from then on I was only looking for long trades. There was another crossover at 8:15 am ET but I did not enter because MACD was positive and it was also right before the PPI report. So even though we missed out on some good opportunities we must stay patient and stick to the rules of the system. If you were able to stay out then you should be proud of yourself for staying disciplined. There will always be plenty of opportunities!