Cowabunga System Daily Update: Tuesday, 02/10/09



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Main Trend

Current Trend= The trend remained up until 11am EDT. From 7am – 11am EDT, a new trend change candle formed and changed the trend from up to DOWN. After 11am EDT, the trend remained down the rest of the day.

Today I only looked for long trades until 11am EDT. After 11am EDT, I only looked for short trades.

News events to watch for today :

  • 4:30am EDT- UK Trade Balance

Today’s Surf

12:30am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled out the signal and I did not enter.

7:30am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.4826 with a stop at the most recent low at 1.4766. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4850.

Entry: Long at 1.4826

Stop: 1.4766

Target: 1.4850

8:45am EDT- Unfortunately I was stopped out of my trade.

entry2

Trade Result: -60 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00

News events to watch for tomorrow :

  • 4:30am EDT- UKClaimant Count Change
  • 5:30am EDT- UK BOE Inflation Report
  • 8:30am EDT- US Trade Balance

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.

  • greenspan

    I m really impressed by this post. At least that shows that I m not alone on this war. Please do not get me wrong as if I m happy that this occurred to u but the point I was got from this post is that what happens to me happens to someone and also for the fact that the pros can be wrong sometimes gives us the mindset that trading actually is not gambling and for that reason, it calls for serious bracing up to the challenges inherent in it. Keep it Cowbunga cos I believe that this loss is just a flash in the frying pan of your trading career.

  • ctbasscatcher

    Hi Pipsurfer,
    On the Cowabunga forum page there are numerous .zip files claiming to be the “system” and I have downloaded and tried them all. (I think, they’re were over 100 pages to look through) Anyways none of mine look like your or perform like yours. I’m pretty sure I have a handle on how to in custom indicators as I have done serval and all seem to work fine. Any chance of getting the code to the one you are using?? Thank you

  • greenspan

    I m really impressed by this post. At least that shows that I m not alone on this war. Please do not get me wrong as if I m happy that this occurred to u but the point I was got from this post is that what happens to me happens to someone and also for the fact that the pros can be wrong sometimes gives us the mindset that trading actually is not gambling and for that reason, it calls for serious bracing up to the challenges inherent in it. Keep it Cowbunga cos I believe that this loss is just a flash in the frying pan of your trading career.

  • ctbasscatcher

    Hi Pipsurfer,
    On the Cowabunga forum page there are numerous .zip files claiming to be the “system” and I have downloaded and tried them all. (I think, they’re were over 100 pages to look through) Anyways none of mine look like your or perform like yours. I’m pretty sure I have a handle on how to in custom indicators as I have done serval and all seem to work fine. Any chance of getting the code to the one you are using?? Thank you