Cowabunga System Daily Update: Wednesday, 03/12/08

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Main Trend

Current Trend= The trend remained down until 8am EST. From 4am – 8am EST, a new trend change candle formed and changed the trend from down to UP. After 8am EST, the trend remained up the rest of the day.

Today I only looked for short trades until 8am EST. After 8am EST, I only looked for long trades.

News events to watch for today :
  • 5:30am EST- UK Trade Balance

Today’s Surf

3:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative. This cancelled out the signal and I did not enter.

entry2

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

News events to watch for tomorrow :
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  • MissPips

    Love these videos! Please keep up the good work.

  • gryat

    How do you know which orange new you shouldn’t trade at? Can’t you just not trade on the red ones?

  • Klee

    Hi y’all, ignorance of the application of the rules made me some pips today. I thought that the reading on the 4h chart was anytime rather than at the end of the candle so I bought the 4:00am signal and road it to the top. (Truth is that I had lost 2 or 3 trades taking positions where all the signals were not in sync. I see that I was just lucky to recoup some damage on this trade.)

    Thanks for the video explanation…. I now have a much clearer understanding of how to apply the signals.

    By the way on the MACD, is it that the indicator should me moving in your direction but not yet over the line to be good?

  • MissPips

    Love these videos! Please keep up the good work.

  • gryat

    How do you know which orange new you shouldn’t trade at? Can’t you just not trade on the red ones?

  • Klee

    Hi y’all, ignorance of the application of the rules made me some pips today. I thought that the reading on the 4h chart was anytime rather than at the end of the candle so I bought the 4:00am signal and road it to the top. (Truth is that I had lost 2 or 3 trades taking positions where all the signals were not in sync. I see that I was just lucky to recoup some damage on this trade.)

    Thanks for the video explanation…. I now have a much clearer understanding of how to apply the signals.

    By the way on the MACD, is it that the indicator should me moving in your direction but not yet over the line to be good?

  • shYun

    thanks alot for sharing your system. i just wish i had followed your system 1 year ago…

  • shYun

    thanks alot for sharing your system. i just wish i had followed your system 1 year ago…