Cowabunga System Daily Update: Thursday, 12/11/08

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Main Trend

Current Trend= The trend remained up the entire day

Today I only looked for long trades.

News events to watch for today :
  • 8:30am EDT- US Trade Balance

Today’s Surf

4:15am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.4961 with a stop at the most recent swing low at 1.4897. Since I was 39 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5000.

Entry: Long at 1.4961

Stop: 1.4897

Initial Target: 1.5000

7:15am EDT- Unfortunately I was stopped out of my trade.

10:00am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.4937 with a stop at the most recent swing low at 1.4877. Since I was only 13 pips away from the nearest 50 or 00 level (1.4950), I decided to go for the same amount of pips I was risking on the trade, which in this case was 60. This put my target at 1.4997 or (1.5000) since it was so close.

Entry: Long at 1.4937

Stop: 1.4877

Initial Target: 1.5000

12:30am EDT- My target was hit. Price made a clean break so I moved my stop to 1.5000 and set my next target for 1.5550.

12:45am EDT- Unfortunately I was stopped out at 1.5000.

entry2

Trade Result: -64 +63= -1 pip (NOT INCLUDING SPREAD) R-Multiple: -1.00; 1.05

News events to watch for tomorrow :
  • 8:30am EDT- US Retail Sales; US PPI
  • 9:55am EDT- US Prelim Consumer Sentiment

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.
  • lissyking

    Where’s the video dude?

  • lissyking

    Where’s the video dude?

  • lissyking

    Where’s the video dude?

  • lissyking

    Where’s the video dude?

  • Nakamura

    Hi there dude. I really appreciate your dedication for this blog. Your system and your videos help people a lot. I created my own trading system and tested it on a demo account for 5 months what gave me 76 trades with 46 wins (60,52%), in pips it was +894. Do you think I can trade for real money using this system? For how long did you try your system before start trading for real money? And just one more question, why did you put 9 for RSI and 10,3,3 for Stochastic? I know what the numbers are meaning but are they just adjusted for a 15 minutes chart or you tried some others values before choose them? Sorry about it but I’m asking all these question to you because I think you’re the only one here that really trade using a technical system and maybe babypips is in needed of another blog like yours or another trading system developed by you, what would be great. Thanks for you help

  • Nakamura

    Hi there dude. I really appreciate your dedication for this blog. Your system and your videos help people a lot. I created my own trading system and tested it on a demo account for 5 months what gave me 76 trades with 46 wins (60,52%), in pips it was +894. Do you think I can trade for real money using this system? For how long did you try your system before start trading for real money? And just one more question, why did you put 9 for RSI and 10,3,3 for Stochastic? I know what the numbers are meaning but are they just adjusted for a 15 minutes chart or you tried some others values before choose them? Sorry about it but I’m asking all these question to you because I think you’re the only one here that really trade using a technical system and maybe babypips is in needed of another blog like yours or another trading system developed by you, what would be great. Thanks for you help

  • mayipip

    Hi dude, your first trade was at 4am then another at 10am so in 6 hours did you only get two signals to enter? Did you have to be at the computer all this time?

    Appreciate your cool and detailed blog, surf’s up & keep them coming

  • mayipip

    Hi dude, your first trade was at 4am then another at 10am so in 6 hours did you only get two signals to enter? Did you have to be at the computer all this time?

    Appreciate your cool and detailed blog, surf’s up & keep them coming

  • MaoriPip

    This may possibly be one of the better trading journals that you can find online. The fact that you can clearly point out the reasons you entered without making up any excuses is truly something to admire. I have one question bro, would you consider using a CCI rather than an RSI? Regardless, keep em coming.

  • MaoriPip

    This may possibly be one of the better trading journals that you can find online. The fact that you can clearly point out the reasons you entered without making up any excuses is truly something to admire. I have one question bro, would you consider using a CCI rather than an RSI? Regardless, keep em coming.

  • JamesFord

    Hi Pip Surfer. What do you think about usign ADX to realize trend/range?

  • dhannan1

    You are one of the best, you have a system and you stick with it! My hardest thing is believing in what I have and just because you have a few loosing trades doesn’t mean the system is bad or outdated. The hardest part is having confidence in the system and in yourself and not to try and constantly change it, just use it FAITHFULLY for a few months and I will see that I will come out on top with my trades!! I see it is even hard for you when you loose a few trades, you are human too, but you also know there are winning trades just around the corner…it is a numbers game. Thanks again!

  • taylordevarney

    ive been followin you for awhile brotha. Keep it up il be keepin in touch

  • JamesFord

    Hi Pip Surfer. What do you think about usign ADX to realize trend/range?

  • dhannan1

    You are one of the best, you have a system and you stick with it! My hardest thing is believing in what I have and just because you have a few loosing trades doesn’t mean the system is bad or outdated. The hardest part is having confidence in the system and in yourself and not to try and constantly change it, just use it FAITHFULLY for a few months and I will see that I will come out on top with my trades!! I see it is even hard for you when you loose a few trades, you are human too, but you also know there are winning trades just around the corner…it is a numbers game. Thanks again!

  • taylordevarney

    ive been followin you for awhile brotha. Keep it up il be keepin in touch