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.

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

Posted 13:28 26 March 2009 | 7

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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 :

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.

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.

Cowabunga System Daily Update: Tuesday, 02/24/09 14:08 24 February 2009
Cowabunga System Daily Update: Tuesday, 03/03/09 13:27 03 March 2009
Cowabunga System Daily Update: Wednesday, 02/25/09 13:41 25 February 2009
Cowabunga System Daily Update: Thursday, 02/05/09 13:37 05 February 2009
Cowabunga System Daily Update: Tuesday, 03/10/09 13:44 10 March 2009

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Are you trading live? Regards Raul

DarthVader | Posted 16:27 26 March 2009

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

skyraider | Posted 19:16 26 March 2009

i dont think you trade daily.

nabil114 | Posted 10:13 28 March 2009

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

charleyhankins | Posted 19:07 31 March 2009

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 | Posted 00:59 01 April 2009

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 | Posted 16:53 14 April 2009

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 | Posted 16:01 16 April 2009

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