Cowabunga System Daily Update: Tuesday, 04/01/08

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

APRIL FOOLS!

You didn’t really think I was going to miss out on all the bodacious waves we’re going to catch did you?!

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

1:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9827 with a stop at the most recent swing high at 1.9840. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9800.

Entry: Short at 1.9827

Stop: 1.9840

Initial Target: 1.9800

1:30am EST- My target was hit. Price made a clean break so I moved my stop to 1.9800 and set my next target for 1.9750.

1:45am EST- Unfortunately I got stopped out at 1.9800.

9:15am EST- There was a valid signal here but it was close to a news report (ISM index) so I did not enter.

entry2

Trade Result: +27 pips; R-Multiple: 2.07

News events to watch for tomorrow :
  • 8:15am EST- ADP Nonfarm Employment Change
  • 9:30am EST- Fed Chairman Ben Bernanke Speaks
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  • rcgreg

    Yup – you got me on that one
    Hang loose Dude !

  • pipmaniac

    hehe

  • jsese

    @#$@$@!! Had me goin’!! Well I missed that trade (once again sleeping) sleeping is bad for trading!!!..alright man..talk to you tomorrow!

  • vbrown5897

    You got me good..haha.

  • True777

    Looks like your 15 chart is from yesterday.

  • MissPips

    Got me too! LOL

  • stcary

    May I ask why when a entry pattern has been formed, you wait for that candle to close, then enter on the next candle, I have noticed that sometimes, alot of pips can be lost while waiting for that naxt candle to open
    Thanks

  • yehuda

    cool

  • gryat

    Haha, nice joke :)

  • rcgreg

    Yup – you got me on that one
    Hang loose Dude !

  • pipmaniac

    hehe

  • jsese

    @#$@$@!! Had me goin’!! Well I missed that trade (once again sleeping) sleeping is bad for trading!!!..alright man..talk to you tomorrow!

  • vbrown5897

    You got me good..haha.

  • vjay1123

    we’ll lucky me, i was able to catch that trend got that trade. but i exited earlier than expected, just got 30 pips from that trade.

  • True777

    Looks like your 15 chart is from yesterday.

  • MissPips

    Got me too! LOL

  • stcary

    May I ask why when a entry pattern has been formed, you wait for that candle to close, then enter on the next candle, I have noticed that sometimes, alot of pips can be lost while waiting for that naxt candle to open
    Thanks

  • yehuda

    cool

  • gryat

    Haha, nice joke :)

  • vjay1123

    we’ll lucky me, i was able to catch that trend got that trade. but i exited earlier than expected, just got 30 pips from that trade.

  • bigjim1958

    2 quick questions, is 1:15 the close or open time of the candle you entered. my netdania had ema5 at 1.9833, ema10 at 1.9832. Were these correct? Did you have different numbers from x-tick feed that signaled a trade? Thanks a ton, trying to match my signal with you as much as possible. Fooled me also.
    Jim

  • bigjim1958

    2 quick questions, is 1:15 the close or open time of the candle you entered. my netdania had ema5 at 1.9833, ema10 at 1.9832. Were these correct? Did you have different numbers from x-tick feed that signaled a trade? Thanks a ton, trying to match my signal with you as much as possible. Fooled me also.
    Jim

  • king

    hi pipsurfer, couldn’t help but comment, you got me there. i almost went sentimental on you, i am glad, i am a guy, have gotten so used to expecting and reading your blogs, your system is consistent and very disciplined. I ve been demo trading for close to a year, i intend to do this business full time, i love and KNOW will enjoy it. i will quickly use this opportunity to say THANK YOU very much for the education, i am humbled, one thing that i am sure of in my life, i will never be able to say, i am self made. again, thank you all at Babypips, Pipcrawler, Happypip, Bigpippin, Forex Ninja, Dr. Pipslow, Cyclopip. And James, i met him here, i am training myself on his IB/OB system. thank you.

  • king

    hi pipsurfer, couldn’t help but comment, you got me there. i almost went sentimental on you, i am glad, i am a guy, have gotten so used to expecting and reading your blogs, your system is consistent and very disciplined. I ve been demo trading for close to a year, i intend to do this business full time, i love and KNOW will enjoy it. i will quickly use this opportunity to say THANK YOU very much for the education, i am humbled, one thing that i am sure of in my life, i will never be able to say, i am self made. again, thank you all at Babypips, Pipcrawler, Happypip, Bigpippin, Forex Ninja, Dr. Pipslow, Cyclopip. And James, i met him here, i am training myself on his IB/OB system. thank you.

  • ocleo

    Dude…you’re the only April Fool’s prank that got me. I was thinking what a waste it would be that your great service came to an end.

    Surf on…and don’t fall off the board ;)

  • ocleo

    Dude…you’re the only April Fool’s prank that got me. I was thinking what a waste it would be that your great service came to an end.

    Surf on…and don’t fall off the board ;)