Cowabunga System Daily Update: 03/06/07

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Main Trend

Current Trend= Trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

12:15 am ET - There was a moving average crossover for a short trade. RSI<50, Stochastics were trending down, and MACD was positive and losing value. This was a valid entry. Entry was at the close of the candle which was at 9250 with a stop at the most recent swing high which was at 9303. Since I was 50 pips from the nearest 00 level I decided to set my target for 9200.

2:45 am ET- Unfortunately I am stopped out of my trade.

4:00 am ET- There was a moving average crossover for a short trade. RSI<50, Stochastics were trending down, and MACD was positive and losing value. This was a valid entry. Entry was at the close of the candle which was at 9252 with a stop at the most recent swing high which was at 9304. Since I was 48 pips from the nearest 00 level I decided to set my target for 9200.

3:00 pm ET- Unfortunately I am stopped again from my trade.

Trade Result: -53 -52= -105 pips; R-Multiple= -1; -1

Today was a pretty big loss but unfortunately it was bound to happen sooner or later. The most important thing to remember is to stick to the rules no matter what. Don’t get scared if you see a valid signal. Keep trading the system by the rules. We’ll bounce back soon!

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  • Hoka

    hi, @12:15 am ET it was oversold on stochastic …. why did u enter .. it’s against ur system rules, right?