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

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

Sorry dudes. No video today! It was a boring day today anyways so I’ll put one up when something bodacious happens.

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :
  • 3:00am EST- Halifax House Price Index m/m
  • 10:00am EST- US Pending Home Sales

Today’s Surf

Unfortunately the Cable was already moving down before we could get in.

entry2

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

News events to watch for tomorrow :
  • 4:30am EST- UK Industrial Production
  • 9:30am EST- US Fed Chairman, Bernanke speaks
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  • flmarc

    As an aside, take a 4 hour chart and attach only one moving average, a 7 sma displaced by adjusting the shift to 5 on setup.

    Just that ma and the candlesticks and consider uptrend when candlesticks close above the 7sma and downtrend when they close below.

    You will find this uncannily accurate in locating the longer term trend and using the 15 minute crossover per your system for the trades.

    Check it out.

  • benl

    Thanks for posting your system. It is similar to what I have been doing for the last 3 years in the commodities market with success. I noticed on your videos and trading plan the location of your stop and target. How do you account for the spread? Do you add the spread to the stop so that price has to reach the same level or just above? Same with the target? Thanks and happy surfing.

  • flmarc

    As an aside, take a 4 hour chart and attach only one moving average, a 7 sma displaced by adjusting the shift to 5 on setup.

    Just that ma and the candlesticks and consider uptrend when candlesticks close above the 7sma and downtrend when they close below.

    You will find this uncannily accurate in locating the longer term trend and using the 15 minute crossover per your system for the trades.

    Check it out.

  • benl

    Thanks for posting your system. It is similar to what I have been doing for the last 3 years in the commodities market with success. I noticed on your videos and trading plan the location of your stop and target. How do you account for the spread? Do you add the spread to the stop so that price has to reach the same level or just above? Same with the target? Thanks and happy surfing.

  • PipSurfer

    Flmarc- Thanks for the input. Thats what this blog is all about. Tweaking and making it your own. I believe you’ve done just that!

    benl- My chart shows bid prices so whatever the price is on the chart, I add the spread onto it. So if my chart says I need a stop at 9500 and I’m going short, I’ll actually put my stop at 9505. I hope that makes sense. Happy trading!

  • PipSurfer

    Flmarc- Thanks for the input. Thats what this blog is all about. Tweaking and making it your own. I believe you’ve done just that!

    benl- My chart shows bid prices so whatever the price is on the chart, I add the spread onto it. So if my chart says I need a stop at 9500 and I’m going short, I’ll actually put my stop at 9505. I hope that makes sense. Happy trading!