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: 08/06/07

Posted 14:38 06 August 2007 | Comments

If this is your first time visiting this blog, read this first!

Main Trend

Current Trend= The trend remained up until 12pm ET. From 8am - 12pm ET a new trend change candle formed which changed the trend from up to DOWN. The trend remained down the rest of the day.

I looked for long trades until 12pm ET. After 12pm ET, I only looked for short trades.

Today's Surf

4:15 am ET- There was a moving average crossover for a long trade. RSI was greater than 50 but stochastics were flat and MACD was negative. This cancelled out the signal and there was no trade. Even if there was a signal I wouldn't have taken it because it was right before a major news event (GBP Industrial Production).

Entry: None

Stop: None

Initial Target: None