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: Monday, 01/14/08

Posted 12:37 14 January 2008 | 1

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

Main Trend

Current Trend= The trend remained down until 3am EDT. From 11pm EDT - 3am EDT, a new trend change candle formed and changed the trend from down to UP. After 3am EDT, the trend remained up the rest of the day.

Today I only looked for short trades until 3am EDT. After 3am EDT I only looked for long trades.

Today's Surf

4:15am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were still trending down. This cancelled out the signal and I did not enter.

6:15am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9635 with a stop at the most recent swing low at 1.9608. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9650.

Entry: Long at 1.9635
Stop: 1.9608
Initial Target: 1.9650

7:30am EDT- Unfortunately I was stopped out of my trade.

Trade Result: -27 pips; R-Multiple: -1.00

News events to watch for Monday :

4:30am EDT- GBP CPI
8:30am EDT- US Retail Sales; US PPI

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: Tuesday, 01/15/08 13:02 15 January 2008
Cowabunga System Daily Update: Monday, 04/14/08 12:23 14 April 2008
Special Thanksgiving Cowabunga System Update 13:25 21 November 2007
Cowabunga System Daily Update: Tuesday, 03/04/08 13:54 04 March 2008
Cowabunga System Daily Update: Friday, 03/07/08 11:03 10 March 2008

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Today was my first day trading Cowabunga and you know what? I'm happy. I'm happy for 4 reasons. 1/ The fact that I got the trade right, even though it was negative (I don't like to use the word 'loss'!) 2/ The system is simple to manage and the rules are very clear. 3/ The honesty of the Sponsor is transparent and encouraging. 4/ It obviously makes money over time. So what more could I ask for? 5/ I tried it on (demo) other currencies and could see promising signs. Thanks for the System :)

pippinL | Posted 17:22 14 January 2008

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