Cowabunga System Daily Update: 09/27/07

Posted 13:23 27 September 2007 | 5
If this is your first time visiting this blog, read this first!

Main Trend

Current Trend= The trend remained down until 4am ET. From 12am - 4am ET, a new trend change candle formed and changed the trend from down to UP. After 4am ET, the trend remained up for the rest of the day.

Today I looked for short trades until 4am ET. After 4am ET, I only looked for long trades.

Today's Surf

Unfortunately I had to sit on the sidelines today as there were no trade signals

Trade Result: +0 pips

Questions? Read the Cowabunga FAQ.
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Comments (5)

what do you mean.. no signal? I had one when the 4h just formed an uptrend, and i got uptrand too at 15mins, with macd negative turning positive. i made 25pips....
fowope | Posted 18:16 27 September 2007
I do not see any trade formation either for Thur Sept 27 -- may you say what time and date you got your signal where you made the 25 pips.
pinetree | Posted 04:54 28 September 2007
Hi Pip Surfer, Question! What is your dollar amount per pip? I'm new to Forex but not to the markets. I'm currently trading a similar system to yours on the GBP/USD, although, I'm trading off 60 min / 2584 tick charts. As I'm testing my system, I'm risking 3 dollars a pip, If I get good results , I'll increase to 5, then 10 dallars a pip, we'll see!
Gouarec | Posted 05:53 28 September 2007
Hi Pip Surfer, I have been diligently tracking my own progress of using your cowabunga rules since January and am about to begin live trading the method. This is one of your live methods, so I was wondering, based on your testing when would you be concerned enough (in terms of drawdown/degradation in method performance) to switch the method out of live trading? It works well with trending instruments, but what volatility/trend indicator (or whatever you might use) would you be keeping an eye on to act as a warning that the method may be entering a period of insufficient surf? :)
Cowaboi | Posted 07:45 30 September 2007
Fowope- I agree with pinetree. There was no signal. Compare your charts to mine and look for the discrepancy. If you followed the rules correctly you should have no trade.

Gouarec- I adjust my dollar amount per pip based on how much I want to risk per trade. I generally only risk less than 1% per trade and no more than 2% of my entire account with all open positions. Of course, as my account grows, the dollar amount per pip increases even though I continue to only risk 1% per trade. Hope that helps!

Cowaboi- Good question. I've done all the testing for you so you shouldn't have to worry about this system going bust. Remember, I've only traded this system with the GBP/USD and may not work the same on other pairs and/or timeframes. If you stick the rules I've laid out you should be fine. If you're making mistakes with the system, I would go back to a demo account until you can consistently pull profits for at least 2-3 months. Hope that helps! Happy trading.

Thanks for the comments everyone!

-PipSurfer
PipSurfer | Posted 13:41 01 October 2007

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