About Pip My System

Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new to the blog you should read this first.

Cowabunga System FAQ

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Cowabunga System Daily Update: Thursday, 11/06/08

Posted 13:22 06 November 2008 | 5

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If this is your first time visiting this blog, read this first!

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 Bank Rate Statement

8:30am EST- US Prelim Non Farm Productivity

Today's Surf

12:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.5815 with a stop at the most recent swing high at 1.5851. Since I was 15 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5800.

Entry: Short at 1.5815

Stop: 1.5851

Initial Target: 1.5800

12:45am EST- Unfortunately I was stopped out of my trade.

Trade Result: -36 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00

News events to watch for tomorrow :

8:30am EST- US Employment Report

10:00am EST- US Pending Home Sales

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.

Cowabunga System Daily Update: Monday, 11/10/08 18:50 10 November 2008
Cowabunga System Daily Update: Wednesday, 11/05/08 13:57 05 November 2008
Cowabunga System Daily Update: Thursday, 08/07/08 16:38 07 August 2008
Cowabunga System Daily Update: Thursday, 09/04/08 14:52 04 September 2008
Cowabunga System Daily Update: Thursday, 09/18/08 13:56 18 September 2008

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Hi Pip surfer, you did mention that you trade other systems, do you have other blogs for them? Would you care to share with us their names? Thanx again for your help.

DZMouloudia | Posted 17:22 06 November 2008

Hi pip surfer .Thank you for your help.Do you use other trading system except cowabunga and which are them?Thankx

anexada | Posted 11:14 07 November 2008

Good day Pip surfer, thank you for sharing your simple and powerful system. I found your system extremely useful and decided to develop on it. I would like to share a few additional things that I use. 1) MACD must also cross 0, instead of decreasing/increasing in value to signify a trend. 2) Angle of MACD line must be more than 30 degree, smaller angle generate smaller profits. 3) Instead of refering to 4hr chart, set a moving average of 200 on 15min chart. 4) With ADX indicator, if signal line is below +/-DI lines or signal line is

alfredtoh | Posted 11:20 07 November 2008

Hi, Thanks for sharing the system. Just 2 quick questions (1) Do you wait for the 15 minute candle to close before you take the trade (once it meets all your conditions). (2) Should MACD for long trades be negative for the signal candle or the previous candle. To simplify, would you take the long trade if it meets all requirements, however, MACD turned from negative to positive in the signal candle, is this still a valid signal? Regards.

mabidashraf | Posted 15:34 07 November 2008

For all I can see, cowabunga remains one of the best.More grease to your elbows.But what about this idea of making use of MA of 200 submitted by alfredtoh.Then is there another sysytem that you use to trade with.

orebiyioo | Posted 10:09 08 November 2008

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