Cowabunga System Daily Update: Thursday, 03/26/09


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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

  • 5:30am EST- UK Retail Sales
  • 8:30am EST- US GDP; Unemployment Report

Today’s Surf

2:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending up but MACD was already negative which cancelled out the signal. No entry!

5:15am EST- There was a potential signal here but because it was right before news, I did not enter.

9:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.4541 with a stop at the most recent high at 1.4633. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.

Entry: Short at 1.4541

Stop: 1.4633

Target: 1.4500

10:00am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.4505.

entry2

Trade Result: +36 pips (NOT INCLUDING SPREAD) R-Multiple: 0.39

News events to watch for tomorrow :

  • 5:30am EST- UK Current Account
  • 8:30am EST- US Core PCE Price Index m/m
  • 9:55am EST- US Revised UoM 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.

  • DarthVader

    Are you trading live?

    Regards
    Raul

  • skyraider

    I have been looking at ur trading plan for sometime and I hv also looked at proactrader.com charting system. I do use fx.com for entry and tp levels which is easier on my nerves because im not good at the fib stuff and all that. My conclusion in this 4x stuff is that 30 or 40 pips a day is good if u put enough lots into a trade to make a living at it but so far I have not had that much success. My question is ,,do many peope what ever that number is make a living at forex, I cant do it yet,,lots to learn,,
    Tim timr_morton@yahoo.com

  • DarthVader

    Are you trading live?

    Regards
    Raul

  • skyraider

    I have been looking at ur trading plan for sometime and I hv also looked at proactrader.com charting system. I do use fx.com for entry and tp levels which is easier on my nerves because im not good at the fib stuff and all that. My conclusion in this 4x stuff is that 30 or 40 pips a day is good if u put enough lots into a trade to make a living at it but so far I have not had that much success. My question is ,,do many peope what ever that number is make a living at forex, I cant do it yet,,lots to learn,,
    Tim timr_morton@yahoo.com

  • nabil114

    i dont think you trade daily.

  • nabil114

    i dont think you trade daily.

  • charleyhankins

    Dude. I love your system. whoduthunk it could be so easy. Keep up the good work and keep pippin’!
    CH

  • charleyhankins

    Dude. I love your system. whoduthunk it could be so easy. Keep up the good work and keep pippin’!
    CH

  • pipspipspips

    I discovered your system 8 days ago. I am a super novice to this FOREX stuff but am very committed to it. I had just begun my paper trading for a total of 2 1/2 weeks with one broker that had a very simplistic platform. I then started a paper account with a new broker that uses MT4 – much better charts, etc. I implemented your system immediately upon discovery (8 days ago.) I proceeded to grab 218 pips on 11 trades in a row with 100% success. I then lost a few trades but am 17 for 21 now with well over 300 pips in positive territory in those 8 days. I am amazed at how this works! Thank you for the great system – COWABUNGA!

  • pipspipspips

    I discovered your system 8 days ago. I am a super novice to this FOREX stuff but am very committed to it. I had just begun my paper trading for a total of 2 1/2 weeks with one broker that had a very simplistic platform. I then started a paper account with a new broker that uses MT4 – much better charts, etc. I implemented your system immediately upon discovery (8 days ago.) I proceeded to grab 218 pips on 11 trades in a row with 100% success. I then lost a few trades but am 17 for 21 now with well over 300 pips in positive territory in those 8 days. I am amazed at how this works! Thank you for the great system – COWABUNGA!

  • pipspipspips

    I am new to this forum and relatively new to FOREX trading in general. I have a technical background and feel comfortable setting up the EA’s and custom cowabunga indicators. My question is where can I find the settings / users notes that go with this EA’s and indicators so I can set them up properly? I need to know what to set all the various parameters to such as order and money management numbers, etc. Help! Thanks.

  • pipspipspips

    I am new to this forum and relatively new to FOREX trading in general. I have a technical background and feel comfortable setting up the EA’s and custom cowabunga indicators. My question is where can I find the settings / users notes that go with this EA’s and indicators so I can set them up properly? I need to know what to set all the various parameters to such as order and money management numbers, etc. Help! Thanks.

  • soulja4lyf

    Hi there, can someone please explain to me the meaning of “R- Multiple” and also (mr bigpipin) can you tell me how you get the candles to be black when there is a crossover. Thank you.

  • soulja4lyf

    Hi there, can someone please explain to me the meaning of “R- Multiple” and also (mr bigpipin) can you tell me how you get the candles to be black when there is a crossover. Thank you.