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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January 2009

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Cowabunga System Daily Update: Wednesday, 01/04/09

Posted 14:00 14 January 2009 | 8

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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 :

8:30am EDT- US Retail Sales

Today's Surf

4:15am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative. This cancelled out the signal and I did not enter.

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

News events to watch for tomorrow :

8:30am EDT- US PPI; Unemployment Claims
10:00am EDT- US Philly Fed Index

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: Wednesday 12/17/08 13:48 17 December 2008
Cowabunga System Daily Update: Wednesday, 06/18/08 11:54 18 June 2008
Cowabunga System Daily Update: Tuesday, 01/13/09 12:39 13 January 2009
Cowabunga System Daily Update: Tuesday, 06/17/08 13:31 17 June 2008
Cowabunga System Daily Update: Tuesday, 12/16/08 12:59 16 December 2008

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Hi Pip Surfer, I've had a look at the MACD you are using and think the settings on it are (5,13,1) which are different to the ones I have set up (12,26,9) and are giving quite different signals. I think there are some others who have posed similar questions. Could you let me know what the correct settings are for the MACD? Thanks & Kind regards Mark

markr | Posted 14:13 14 January 2009

Hi Dude, I do not understand why sometimes you say the MACD was already positive or negative in the same bar as the crossover and sometimes you focus on the previous bar of MACD for the crossover candle.

Hotdog | Posted 15:38 14 January 2009

Sorry Dude, I forgot to quote this text which is in your system: "MACD histogram must go from positive to negative OR be positive and start to decrease in value. (We want to catch trends early so the MACD histogram must be positive)" That's why I think today you had a valid entry.

Hotdog | Posted 15:45 14 January 2009

Hi Dude, Thanks for all your posts and helping us out with trading. Could you please define what you mean by a trend change candle? I've not found any explaination in your FAQs,or the system rules. Many thanks, 4xbaby

4xbaby | Posted 22:44 14 January 2009

Hello Dude, I think Markr is correct as I too has never seen these 3 indicators ( Rsi,Stoch & Macd line up )The Rsi & Stoch did headed the same direction but the Macd went the other way.I have been monitoring chart of all time frames but the Macd never run in line with those Rsi & Stoch thus never trade anything since I put it up month ago.Hope you can explain on the MACD setting again wheather that ( 5,13,1)are corrent. Appreciate it hafizam

hafizam | Posted 01:17 15 January 2009

4xbaby: a trend change candle is the candle where 5 and 10 ema crossed. you would still have to look whether macd, stoch and rsi are correct (regarding the system). the visualisation by coloring the trend change candle is a feature of pip surfers platform (xtick) and not available in most free platforms i know. i hope this helps - please correct me if i'm wrong.

hurtzi | Posted 04:20 15 January 2009

i'm sorry: for a trend change candle, defining the h4 trend, you wouldn't have to look for macd, stoch and rsi in pip surfers system - the trend change candle just defines the trend (that decides whether he goes only long or short). the above mentioned indicators are mainly for m15. still, the coloring is a feature of xtick.

hurtzi | Posted 04:26 15 January 2009

Hafizam: Your MACD settings should be (12, 26, 9). That's Fast MA 12, Slow MA 26 and MACD length 9. Also it should be applied to the close of the candle. Fix your settings and you should have many trades, good luck.

patmcc88 | Posted 08:26 15 January 2009

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