Cowabunga System Daily Update: Friday, 02/29/08

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

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

News events to watch for today :
  • 2:00am EDT- GBP Nationwide House Prices
  • 4:30am EDT- GBP Net Lending to Individuals
  • 8:30am EDT- US Core PCE Price Index, Personal Spending
  • 9:45am EDT- US Chicago PMI
  • 10:00am EDT- US Consumer Sentiment

Today’s Surf

2:15am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.

entry2

Trade Result: +0 pips; R-Multiple: N/A

News events to watch for Monday :
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
  • flmarc

    Have you tested taking the signal when MACD is in positive or negative territory depending on the situation to see what the impact would be on wins or losses versus what you do now?

    Seems like you leave a lot of pips on the table in the manner in which you are currently using the MACD.

    I ran a small test going forward several months ago using about 100 events that qualified under your system except for the MACD criteria and I found it won at about 72% of the time.

  • gryat

    Interesting

  • pippinL

    Cowabunga Rocks! I love it as it is. Yeah you can mess with any system in the short term. that doesnt always pan out in the long term though.

    I think great respect is due to Pipsurfer Dude for logging so meticulously his trades and sharing the system with us all.

    Top Ninja turtle – Curtis Faith in his book ‘The way of the Turtle, makes it quite clear that apart from the discipline to trade, money management etc. what you MUST have, is a system with positive expectancy and little else really.

    I believe that Cowabunga has that positive expectancy AND unlike many systems on the forums, It has a documented past history of real trades. Look at the number of systems on the forums that just fizzle out and the originators just disappear for good. Here we have a system with positive expectancy and a trading history AND dedication from the sponsor. for Free too! Also, very importantly, Cowabungas ruthlessly honest documentation on this forum is actually living proof to forex newcomers that it can be a profitable pursuit after all. Look in forum posts just how many new traders seek confirmation that anyone actually makes money in Forex.

    Yeah, Cowabunga will give some negative trades, but show me a system that doesn’t . Anyway, If I am able to filter out many of those not so good trades, so can anyone else methinks.

    I have my own trading methods too, but I think that Cowabunga is a truly valid system so I run it alongside on a separate chart on the Gbp/Usd because, well, it works.

    Right, I saisd my bit, so Many many thanks for the hard work Pipsurfer and the continuing Blog and long live….COWABUNGA!

  • flmarc

    Have you tested taking the signal when MACD is in positive or negative territory depending on the situation to see what the impact would be on wins or losses versus what you do now?

    Seems like you leave a lot of pips on the table in the manner in which you are currently using the MACD.

    I ran a small test going forward several months ago using about 100 events that qualified under your system except for the MACD criteria and I found it won at about 72% of the time.

  • gryat

    Interesting

  • pippinL

    Cowabunga Rocks! I love it as it is. Yeah you can mess with any system in the short term. that doesnt always pan out in the long term though.

    I think great respect is due to Pipsurfer Dude for logging so meticulously his trades and sharing the system with us all.

    Top Ninja turtle – Curtis Faith in his book ‘The way of the Turtle, makes it quite clear that apart from the discipline to trade, money management etc. what you MUST have, is a system with positive expectancy and little else really.

    I believe that Cowabunga has that positive expectancy AND unlike many systems on the forums, It has a documented past history of real trades. Look at the number of systems on the forums that just fizzle out and the originators just disappear for good. Here we have a system with positive expectancy and a trading history AND dedication from the sponsor. for Free too! Also, very importantly, Cowabungas ruthlessly honest documentation on this forum is actually living proof to forex newcomers that it can be a profitable pursuit after all. Look in forum posts just how many new traders seek confirmation that anyone actually makes money in Forex.

    Yeah, Cowabunga will give some negative trades, but show me a system that doesn’t . Anyway, If I am able to filter out many of those not so good trades, so can anyone else methinks.

    I have my own trading methods too, but I think that Cowabunga is a truly valid system so I run it alongside on a separate chart on the Gbp/Usd because, well, it works.

    Right, I saisd my bit, so Many many thanks for the hard work Pipsurfer and the continuing Blog and long live….COWABUNGA!

  • PipSurfer

    pippinL- Wow, that was a very nice comment :) I don’t think I could’ve explained it better myself. I think you truly understand the reason behind this blog. Thanks for taking the time to share your thoughts!

    flmarc- pippinL does have a point. However, I always encourage traders to experiment with things. Not everyone trades exactly the same. This is why you can have 50 people trade the same system, and still have 50 different outcomes. I’m glad you are studying different things. Test out your theory in live “demo” trading and see if you are still getting the same results. The Cowabunga System as it is has been tested over the long run and provides positive results. This doesn’t mean it’s perfect, which is why I always tell traders to mess with it. If things don’t pan out, then you can always go back to the system as is and try again. I hope that helps and I wish you the best in your trading!

  • PipSurfer

    pippinL- Wow, that was a very nice comment :) I don’t think I could’ve explained it better myself. I think you truly understand the reason behind this blog. Thanks for taking the time to share your thoughts!

    flmarc- pippinL does have a point. However, I always encourage traders to experiment with things. Not everyone trades exactly the same. This is why you can have 50 people trade the same system, and still have 50 different outcomes. I’m glad you are studying different things. Test out your theory in live “demo” trading and see if you are still getting the same results. The Cowabunga System as it is has been tested over the long run and provides positive results. This doesn’t mean it’s perfect, which is why I always tell traders to mess with it. If things don’t pan out, then you can always go back to the system as is and try again. I hope that helps and I wish you the best in your trading!

  • flmarc

    Pipsurfer..

    Thanks for your response..I add my kudos along side PippenL’s regarding this system.

    It works and with proper money management produces consistent profits.

  • flmarc

    Pipsurfer..

    Thanks for your response..I add my kudos along side PippenL’s regarding this system.

    It works and with proper money management produces consistent profits.