Cowabunga System Daily Update: 08/14/07

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Main Trend

Current Trend= The trend remained down the entire day

Today’s Surf

1:15 am ET- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0113 with a stop at the most recent swing high which was at 2.0123. Since I was 13 pips away from the nearest 00 level I decided to put my target at 2.0100.

Entry: Short at 2.0113

Stop: 2.0123

Initial Target: 2.0100

1:45 am ET- Unfortunately I was stopped out of my trade.

This was one of those days where you want to pull your hair out. You can see that we were stopped out of our trade right before the price started going our way. Arghhh! It happens so we’ll just have to live with it. Bummer dudes!

Trade Result: -10 pips; R-multiple: -1.00

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  • tigerllc

    This is my first posting….Couple of questions…
    Are you responsible for http://www.babypips.com ??? If so, thank you so much. Great service to humanity…

    Comment on today’s trade…
    Not a challenge, but asking to further my understanding..humble approach..
    Two lines (blue/red) were flat thru your trade today… Why not wait until they started to separate like 02:45 0r 03:00 before entering the trade. RSI, MACD, all were ripe. It seems that when one gets stopped out is when a trade is too close for either direction move..like when MAs are flat or close together.

    Last comment.. I’ve noticed that, assuming RSI/MACD.etc.) are favorable, the wide gap between two MAs (blue/red lines) gives almost a sure sign of success. Am I naive, or is this too good to be true (there’s a catch somewhere??)?? What do you think??

    One more, you average 150 pips/mo..give or take..(by the way, thanks for pasting your exact trading records..honesty is much appreciated). I have talked with and seen one trader who claims 30-100 pips/day (give or take) with GBP/JPY (has greater pip swing per day than other pairs). Would appreciate your comments..
    I would like to talk to you via phone Sat. Fridays..my number is 540-397-3245.
    Thanks,
    Jason

  • tigerllc

    This is my first posting….Couple of questions…
    Are you responsible for http://www.babypips.com ??? If so, thank you so much. Great service to humanity…

    Comment on today’s trade…
    Not a challenge, but asking to further my understanding..humble approach..
    Two lines (blue/red) were flat thru your trade today… Why not wait until they started to separate like 02:45 0r 03:00 before entering the trade. RSI, MACD, all were ripe. It seems that when one gets stopped out is when a trade is too close for either direction move..like when MAs are flat or close together.

    Last comment.. I’ve noticed that, assuming RSI/MACD.etc.) are favorable, the wide gap between two MAs (blue/red lines) gives almost a sure sign of success. Am I naive, or is this too good to be true (there’s a catch somewhere??)?? What do you think??

    One more, you average 150 pips/mo..give or take..(by the way, thanks for pasting your exact trading records..honesty is much appreciated). I have talked with and seen one trader who claims 30-100 pips/day (give or take) with GBP/JPY (has greater pip swing per day than other pairs). Would appreciate your comments..
    I would like to talk to you via phone Sat. Fridays..my number is 540-397-3245.
    Thanks,
    Jason