Cowabunga System Daily Update: 08/09/07

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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. After 12pm ET, the trend remained down for the rest of the day.

Today’s Surf

Because our trend was up for most of the day we didn’t have many crossovers for a long trade during our trading session since the Cable mostly dropped today.

Entry: None

Stop: None

Initial Target: None

Trade Result: +0 pips

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  • leepaynesnake

    i wanna ask some question about clean break…i keep on figure out but fail… what if a candle break our target but pull back after? Example:(i long @2.0220 , limit @2.0250 , stop @2.0205 at sometime the candle reach 2.0264 and pull back to 2.0248 in just 15 minutes…. if i close at 2.0250 but the candle make a clean break then i’ll miss out target no.2 (2.0300) if i wait until the candle close then only close my trade i’ll not earn the pips that i set? what’s the solution?

  • leepaynesnake

    i wanna ask some question about clean break…i keep on figure out but fail… what if a candle break our target but pull back after? Example:(i long @2.0220 , limit @2.0250 , stop @2.0205 at sometime the candle reach 2.0264 and pull back to 2.0248 in just 15 minutes…. if i close at 2.0250 but the candle make a clean break then i’ll miss out target no.2 (2.0300) if i wait until the candle close then only close my trade i’ll not earn the pips that i set? what’s the solution?

  • babyfxtrader

    open multiple lot trade. say you open 2 lots. 1 lot pt 2.0250; sl 2.0205.
    1 lot pt 2.0300 sl @2.0205. you could adjust the sl later after your pt1 is met. i would adjust it to 2.0220 so that the 2nd lot would be a risk free trade…

  • babyfxtrader

    open multiple lot trade. say you open 2 lots. 1 lot pt 2.0250; sl 2.0205.
    1 lot pt 2.0300 sl @2.0205. you could adjust the sl later after your pt1 is met. i would adjust it to 2.0220 so that the 2nd lot would be a risk free trade…

  • orbe80

    Hi. could you give a quick example of a system that would work on smaller/shorter timeframes please? i.e. 1min and 5min charts. what values to use and so fort. im really new to this and i don’t have a big bankroll, so when i open a live account i would like to use shorter timeframes. or doesn’t this make sense? please help me. really helpful site by the way, thank you very much so far =)

  • orbe80

    Hi. could you give a quick example of a system that would work on smaller/shorter timeframes please? i.e. 1min and 5min charts. what values to use and so fort. im really new to this and i don’t have a big bankroll, so when i open a live account i would like to use shorter timeframes. or doesn’t this make sense? please help me. really helpful site by the way, thank you very much so far =)