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.

Cowabunga System FAQ

Del.icio.us Bookmark

Technorati Favorite

Latest Posts

March 2008

S	M	T	W	T	F	S
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

Cowabunga System Daily Update: Wednesday, 03/19/08

Posted 13:19 19 March 2008 | 4

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

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 MPC Meeting Minutes

Today's Surf

1:00am 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 2.0080 with a stop at the most recent swing high at 2.0123. Since I was 30 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0050.

Entry: Short at 2.0080
Stop: 2.0123
Initial Target: 2.0050

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

4:45am EST- There was a valid signal here but because it was close to an important news report I did not enter.

Trade Result: -43 pips; R-Multiple: -1.00

News events to watch for tomorrow :

5:30am EST- UK Retail Sales
10:00am EST- US Philadelphia Fed Index

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: Tuesday, 03/11/08 13:13 11 March 2008
Cowabunga System Daily Update: Wednesday, 03/26/08 12:53 26 March 2008
Cowabunga System Daily Update: Wednesday, 03/12/08 13:24 12 March 2008
Cowabunga System Daily Update: Thursday, 03/20/08 14:33 20 March 2008
Cowabunga System Daily Update: Thursday, 04/10/08 12:38 10 April 2008

« Previous Entry Next Entry »

I didn't enter at the new either. However, sometimes you keep trades as long as 15 minutes before a release. And sometimes even less. What's the rule here?

gryat | Posted 13:41 19 March 2008

If I'm already in a trade, then I'll hold it right up until the news event. However, in this case I wasn't in a trade yet. If I'm not in a trade, I probably won't enter if its 30 minutes until news.

PipSurfer | Posted 14:37 19 March 2008

Hi Pip Surfer, I notice on WorldMarketHours that Japan is closed tomorrow (Vernal Equinox holidy on March 20 I think). Does this mean that it is better not to trade in the morning?

MissPips | Posted 16:42 19 March 2008

No, it's still ok to trade. If it is a UK or US holiday then I would hold off.

PipSurfer | Posted 09:49 20 March 2008

Oh snap! You need to be signed in to post comments! If you're already a BabyPips.com member, please sign in. If you aren't part of our ridiculously cool club, please register. It's free! And cool.