Cowabunga System Daily Update: Thursday, 05/08/08

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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.

entry2

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

News events to watch for tomorrow :
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  • jsese

    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.

  • gryat

    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

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

  • jsese

    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.

  • gryat

    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

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

  • hchomat

    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

    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.

  • MissPips

    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

    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.)

  • jsese

    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

    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…