Cowabunga System Daily Update: 02/27/07
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Main Trend
Current Trend= Trend stayed up the entire day.
Today I only looked for long trades.
Today's Surf
3:15 am ET- There was a moving average crossover for a long trade. RSI>50, Stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. Entry was at the close of the candle which was at 9651 and my stop was at the most recent swing low which was at 9591. I decided to go for the nearest 00 level which was at 9700 since I was a good amount of pips away from it.
4:00 pm ET- Since my target or stop was not hit by this time I closed out my trades because it is part of my rules. I ended up getting out at 9611.
Trade Result: -40 pips; R-Multiple= -1
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- Cowabunga System Daily Update: 07/16/07 21:21 16 July 2007
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Archived Comments (3)
Forex Blog: Pip My System
Rode that one all the way to a rocky shore, dude...Very honorable that you played by the rules. I couldn't resist the big chopsticks candles in the trough of the wave at 3:00 am and rode it up for a quick 20. Sorry I cheated...I'll play by the rulz next time ;-)
Should you have entered on the 15min 8.15 candle as the 4hour candle 4-8 was RSI Terry
Hey, my friend,
It is interesting how a simples (it is so easy) system if followed with discipline comes wiht very good results. I was looking for trackback from january and february (where the market is not friendly) and 600 pips are very good.
COngratulations for your work,it shows the system is not the most important part of the trading.
Wodwave