Cowabunga System Daily Update: Tuesday, 12/16/08

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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 :
  • 4:30am EDT- UK CPI
  • 8:30am EDT- US CPI, Building Permits

Today’s Surf

There were no trades today!

entry2

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

News events to watch for tomorrow :
  • 4:30am EDT- UK Claimant Count Change, MPC Minutes
  • 6:00am EDT- UK CBI Realized Sales
  • 8:30am EDT- US Current Account

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.
  • patmcc88

    Pip surfer, i was tempted to enter that trade today but rules are rules! never mind would’ve earned a few pips. I was just wondering why there was no entry at 11:30am? We had EMA 5 cross EMA 10, RSI above 50, Stochastics up and MACD negative to less negative.. am i missing something?

    Thanks dude, you’re awesome!

  • lissyking

    Hey dude
    First of all where are the videos? I noticed you haven’t upload any videos recently!

    I agree with patmcc88. From what I remember you do not enter trade after 12pm, same for me! But suppose you get a signal before 12pm? That was the case today at 11:30am. You didn’t enter but I did since it was before 12pm. I got 100pips from this trade. Momentum was very strong!

    Surf away dude!

  • patmcc88

    Pip surfer, i was tempted to enter that trade today but rules are rules! never mind would’ve earned a few pips. I was just wondering why there was no entry at 11:30am? We had EMA 5 cross EMA 10, RSI above 50, Stochastics up and MACD negative to less negative.. am i missing something?

    Thanks dude, you’re awesome!

  • lissyking

    Hey dude
    First of all where are the videos? I noticed you haven’t upload any videos recently!

    I agree with patmcc88. From what I remember you do not enter trade after 12pm, same for me! But suppose you get a signal before 12pm? That was the case today at 11:30am. You didn’t enter but I did since it was before 12pm. I got 100pips from this trade. Momentum was very strong!

    Surf away dude!

  • eugenet

    Hi Pipsurfer! Thank you for sharing your system, I’ve been trying it over the past week on a demo account from forex.com and it works well! So far 1 out of 7 trades are losses.

    What forex software are you using though? Mine doesn’t even provide handphone alerts and trend change candles, its very basic I think.

    Thanx :D

  • patmcc88

    Hi pip surfer, Patmcc88 again.

    i was just wondering how important the strictness of the MACD rule is. In your expert opinion would taking the trade even though MACD was already positive be a complete no no, or is there room for adjustment. You’ve got a longer track record than me so you’d know better but we seem to be missing out on a few big trades. I can’t seem to back test to check historically the importance of MACD. Thanks again for any advice. Peace

  • PipSurfer

    Hi Everyone,

    Thanks for your comments! It’s true, I haven’t uploaded videos in a while and it’s because things have been kind of hectic with the holidays coming up. I’ll definitely post videos again when time allows.

    Pat and Lissyking- I actually stopped trading early because (again) of the hectic schedule going on in the PipSurfer household. It was a valid signal and I’m glad you caught it! The only comment I have is that FOMC rate was announced which means you might’ve considered exiting before or at least tightening your stop. Other than that, great find!

    Eugenenet- I use Xtick for my charting because it makes pretty pictures :) It also allows alert setups.

    Pat- MACD is vital. Its true, the past couple of days we’ve missed out because of MACD not lining up, but remember…this is just a couple of trades, compared to the kabillion trades that lose when MACD doesn’t line up :) Just stick to the rules and don’t be too bummed out when you miss one. Easier said than done right??? haha

    Happy trading everyone!

  • eugenet

    Hi Pipsurfer! Thank you for sharing your system, I’ve been trying it over the past week on a demo account from forex.com and it works well! So far 1 out of 7 trades are losses.

    What forex software are you using though? Mine doesn’t even provide handphone alerts and trend change candles, its very basic I think.

    Thanx :D

  • patmcc88

    Hi pip surfer, Patmcc88 again.

    i was just wondering how important the strictness of the MACD rule is. In your expert opinion would taking the trade even though MACD was already positive be a complete no no, or is there room for adjustment. You’ve got a longer track record than me so you’d know better but we seem to be missing out on a few big trades. I can’t seem to back test to check historically the importance of MACD. Thanks again for any advice. Peace

  • PipSurfer

    Hi Everyone,

    Thanks for your comments! It’s true, I haven’t uploaded videos in a while and it’s because things have been kind of hectic with the holidays coming up. I’ll definitely post videos again when time allows.

    Pat and Lissyking- I actually stopped trading early because (again) of the hectic schedule going on in the PipSurfer household. It was a valid signal and I’m glad you caught it! The only comment I have is that FOMC rate was announced which means you might’ve considered exiting before or at least tightening your stop. Other than that, great find!

    Eugenenet- I use Xtick for my charting because it makes pretty pictures :) It also allows alert setups.

    Pat- MACD is vital. Its true, the past couple of days we’ve missed out because of MACD not lining up, but remember…this is just a couple of trades, compared to the kabillion trades that lose when MACD doesn’t line up :) Just stick to the rules and don’t be too bummed out when you miss one. Easier said than done right??? haha

    Happy trading everyone!