Cowabunga System Daily Update: Wednesday, 11/05/08

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Main Trend

Current Trend= The trend remained down until 7am EDT. From 3am – 7am EDT, a new trend change candle formed and changed the trend from down to UP. After 7am EDT, the trend remained up the rest of the day.

Today I only looked for short trades until 7am EDT. After 7am EDT, I only looked for long trades.

News events to watch for today :

  • 4:30am EDT- UK Services PMI, Manufacturing Production
  • 8:15am EDT- US ADP Non Farm Employment Change
  • 10:00am EDT- US Non Manufacturing ISM

Today’s Surf

No trades today!

entry2

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

News events to watch for tomorrow :

  • 7:00am EDT – UK Bank Rate
  • 8:30am EDT- US Prelim Nonfarm productivity

For a complete list of news events check out our News Section

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

  • Pips-ahoy

    Two questions: You had mentioned earlier that you trade as well as work a regular job. Many of us dream of being able to shuck the job completely and trade full time. Are you working a regular job because you want to or because the Cowabunga trading system isn’t quite enough to provide a full time salary. Also: You had mentioned you recently became married (Congratulations). Not to get too personal but now that you are married do you find it more difficult to receive trading alerts over your cell phone at 2 am? The reason I ask is I know my wife would kill me.

  • Dtrain8

    Hello again. do you have to wait for the 4 hour candle to close to establish a main trend change (assuming there was a cross over during that time period) or can you begin to trade the main trend as soon as the cross over happens? Im a little grey on the 4 hour candle main trend rules. Do any of the other indicators play a role in main trend pattern?
    Thanks

  • Pips-ahoy

    Two questions: You had mentioned earlier that you trade as well as work a regular job. Many of us dream of being able to shuck the job completely and trade full time. Are you working a regular job because you want to or because the Cowabunga trading system isn’t quite enough to provide a full time salary. Also: You had mentioned you recently became married (Congratulations). Not to get too personal but now that you are married do you find it more difficult to receive trading alerts over your cell phone at 2 am? The reason I ask is I know my wife would kill me.

  • Dtrain8

    Hello again. do you have to wait for the 4 hour candle to close to establish a main trend change (assuming there was a cross over during that time period) or can you begin to trade the main trend as soon as the cross over happens? Im a little grey on the 4 hour candle main trend rules. Do any of the other indicators play a role in main trend pattern?
    Thanks