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: Thursday, 05/08/08

Posted 12:50 08 May 2008 | 6

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 :

7:00am EST- UK Official Bank Rate
8:30am EST- ECB Press Conference

Today's Surf

12:45am EST- There was a moving average crossover for a short trade. However, stochastics were trending up which cancelled out the signal. No entry.

7:00am EST- There was a valid signal here, but because it was a news candle, I did not enter.

7:45am EST- There was a moving average crossover for a short trade. However, MACD was already negative which cancelled out the signal. No entry.

10:15am EST- There was a moving average crossover for a short trade. However, MACD was already negative which cancelled out the signal. No entry.

10:45am EST- There was a moving average crossover for a short trade. However, MACD was already negative which cancelled out the signal. No entry.

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

News events to watch for tomorrow :

8:30am EST- US Trade Balance

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: Monday, 02/25/08 13:05 25 February 2008
Cowabunga System Daily Update: Thursday, 01/10/08 12:28 10 January 2008
Cowabunga System Daily Update: Friday, 01/11/08 10:34 12 January 2008
Cowabunga System Daily Update: Friday, 03/14/08 12:29 17 March 2008
Cowabunga System Daily Update: Tuesday, 11/27/07 14:11 27 November 2007

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Wow..I wasn't so lucky. I avoided the 12:45am signal, and the 10:15 and 10:45am signal, but I was under the impression that you could jump in a trade on the bar after a news bar...so needless to say I took a 44 pip loss there. Not to mention that I also showed a signal at 3:45 am for another 24 pip loss. 68 pips gone. Oh well, I had been on the same page as you for about 2 weeks..but I messed up on the 7 am and got a signal you didn't get. There's always tomorrow now I am playing catch up for the month.

jsese | Posted 13:40 08 May 2008

The 10.45 entry was valid according to IBFX charts, so i'm in that trade right now. It looks to be a winner

gryat | Posted 14:08 08 May 2008

Yep sure as hell was a winner. Got me 640 big ones :D

gryat | Posted 16:16 08 May 2008

Pip surfer – Thank you for your daily postings. What a difference you make! Concern: Today I noticed a significant height discrepancy of the 12:00 PM candlestick between two different charting software. My Oanda charts (which is my broker account) had a height of 1.9591; however the Xtic charts, which is my charting software, the same candlestick had a height of 1.9603. The height difference for the same candlestick between the two software packages was 12 Pips and this could be significant. Is it normal to see chart discrepancy between two distinct charting software? Fortunately, the charts look the same most of the time between the two software packages.

hchomat | Posted 20:25 08 May 2008

Hi Jsese, There was a valid signal in MT4 at 3:45. I also use CMSFX which seems to get almost exactly the same results as PipSurfer, and they did not show a valid signal (no MA cross.) What I do, is if the results in both of them do not agree I do not trade because I've noticed these are usually bad trades due to choppy market conditions. (Ps The demo in CMSFX is free.)

MissPips | Posted 00:58 09 May 2008

thnx MissPips....I appreciate your advice and will look into it...up to now I haven't used any charting software other than the one that comes with ACM because it has been enough...but I will look into it...

jsese | Posted 12:05 09 May 2008

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