Cowabunga System Daily Update: 02/27/07

Posted 16:12 27 February 2007 by Big Pippin
If this is your first time visiting this blog, read this first!

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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Comments (3)

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 ;-)
foricks | Posted 19:03 27 February 2007
Should you have entered on the 15min 8.15 candle as the 4hour candle 4-8 was RSI
terryed | Posted 02:32 28 February 2007
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
wodwave | Posted 09:44 28 February 2007

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