Cowabunga System Daily Update: 08/02/07

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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

12:45 am ET- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle which was at 2.0309 with a stop at the most recent swing low at 2.0286. Since I was 41 pips away from the nearest 50 level I set my target for 2.0350.

4:45 am ET- Unfortunately I was stopped out at 2.0286 for a 23 pip loss.

6:45 am ET- There was a valid signal here but because it occurred right at the time of the GBP Interest Rate Statement, I did not enter. (Major news event)

Trade Result: -23 pips ; R-Multiple: -1.00

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2 comments

  1. pro87

    Hello i`ve been watching your trading every day but unfortunately i think that you don`t use right system ..;] look at your trading in 2.08 if you was looking only MACD you will have more success i don`t want to be rude but …. ;] i want to tell you this :) of course if this is yout real system with real money if i can make suggestion you may use Parabolic sar 4h timeframe and you will have more success.I don`t want to offend nobody!!! this is what i think …. happy trading :)

    Reply
  2. pro87

    Hello i`ve been watching your trading every day but unfortunately i think that you don`t use right system ..;] look at your trading in 2.08 if you was looking only MACD you will have more success i don`t want to be rude but …. ;] i want to tell you this :) of course if this is yout real system with real money if i can make suggestion you may use Parabolic sar 4h timeframe and you will have more success.I don`t want to offend nobody!!! this is what i think …. happy trading :)

    Reply

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