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: Tuesday, 03/18/08

Posted 13:02 18 March 2008 | 1

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

Still no voice...so sorry...still no video :(

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

5:30am EST- UK CPI
8:30am EST- US PPI

Today's Surf

1:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 2.0010 with a stop at the most recent swing high at 2.0044. Since I was only 10 pips away from the nearest 50 or 00 level (2.0000), I decided to go for the same amount of pips I was risking on the trade, which in this case was 34. This put my initial target at 1.9976.

Entry: Short at 2.0010
Stop: 2.0044
Initial Target: 1.9976

3:15am EST- Unfortunately I was stopped out of my trade.

Trade Result: -34 pips; R-Multiple: -1.00

News events to watch for tomorrow :

5:30am EST- UK MPC Meeting Minutes

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: 04/24/07 16:51 24 April 2007
Cowabunga System Daily Update: Wednesday, 04/02/08 11:54 02 April 2008
Cowabunga System Daily Update: Monday, 04/14/08 12:23 14 April 2008
Cowabunga System Daily Update: Monday, 03/10/08 13:26 10 March 2008
Cowabunga System Daily Update: Tuesday, 04/22/08 12:05 22 April 2008

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Hey pip surfer, do you trade this for real money? The reason i not personal, it is because with the stops are usually 30-40 pips out and that is 300 to 400 $ at risk. this means that to trade this strategy based on my idea of not putting more than 2% risk in a trade, I could only trade 2 at a max 3 lots with 50K. Do you suggest one, two, or 3 lots? Or what do you do personally? Feel free to tell me to mind my own business..I won't be offended.

jsese | Posted 18:23 18 March 2008

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