Cowabunga System Daily Update: Tuesday, 04/21/09


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Ok so I know it’s been fooorrreeeverrr since I last posted and I apologize for all those who follow this blog. I’ve been so busy with my new house being built that I haven’t really had much time to trade, let alone post. Excuses aside, I am sorry for not keeping up to date. I am set to close on the house tomorrow so I can’t promise every day updates until a couple more weeks but I will definitely try to post as much as I can and should be able to start doing videos again once I get settled in the new place. Thanks for your patience and your support during this crazy time for me! Happy trading everyone!

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

  • 4:30am EST- UK CPI y/y

Today’s Surf

2:30am 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 1.4519 with a stop at the most recent high at 1.4573. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.

Entry: Short at 1.4519

Stop: 1.4573

Target: 1.4500

2:45am EST- My target was hit. Price made a clean break so I moved my stop to 1.4500 and set my next target for 1.4350.

3:00am EST- Unfortunately I was stopped out at 1.4500.

6:45am 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 1.4537 with a stop at the most recent high at 1.4605. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4500.

Entry: Short at 1.4537

Stop: 1.4605

Target: 1.4500

9:30am EST- Unfortunately I was stopped out.

entry2

Trade Result: +19 -68= -49 pips (NOT INCLUDING SPREAD) R-Multiple: 0.35; -1.00

News events to watch for tomorrow :

  • 4:30am EST- UK Claimant Count Change; MPC Meeting Minutes

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.

10 comments

  1. soulja4lyf

    Hi, can you please tell me what you men by moving the tp level up when there is a clean break? when the level is reached doesn’t the trade get closed automatically? another question is, what is r-multiple? thanks.

    Reply
  2. soulja4lyf

    Hi, can you please tell me what you men by moving the tp level up when there is a clean break? when the level is reached doesn’t the trade get closed automatically? another question is, what is r-multiple? thanks.

    Reply
  3. tsimeremari

    hi guys, im new to this thing and ive been “pilferaging” babypips for almost 2wks.
    i found the Cowabunga system and tried it on two trades,1 of which i just got stopped out a while ago.

    it takes a miracle to impress me, so i hope ive done the right thing trying to post images of my last trade ,giving a BIG AAA+ to its author.

    unfortunately the trend on the 4hr chart was a downtrend but the 15min chart presented a Long opportunity so i ran wid it.

    Long @ 1.45638

    took a stop loss when i was over 50pips in profit (stupid i know)

    moved stop loss just below Fib levels and got stopped out when prices broke the 61.8 Fib level.

    profit went up to 123pips but settled for 812pips after the reversal.

    Reply
  4. tsimeremari

    my bad, im confused, 1230pips ??? if that is possible in a few hours…i find it hard to believe but if i do the math, @ $1 a pip ,x812whatever points or pips…it bulked my acc by $812.00…i still dont believe the math is right..but hey…im not complaining.

    someone please help me and i will gladly post the image of the trade since i dont know how…

    many thanx !!

    Reply
  5. tsimeremari

    hi guys, im new to this thing and ive been “pilferaging” babypips for almost 2wks.
    i found the Cowabunga system and tried it on two trades,1 of which i just got stopped out a while ago.

    it takes a miracle to impress me, so i hope ive done the right thing trying to post images of my last trade ,giving a BIG AAA+ to its author.

    unfortunately the trend on the 4hr chart was a downtrend but the 15min chart presented a Long opportunity so i ran wid it.

    Long @ 1.45638

    took a stop loss when i was over 50pips in profit (stupid i know)

    moved stop loss just below Fib levels and got stopped out when prices broke the 61.8 Fib level.

    profit went up to 123pips but settled for 812pips after the reversal.

    Reply
  6. tsimeremari

    my bad, im confused, 1230pips ??? if that is possible in a few hours…i find it hard to believe but if i do the math, @ $1 a pip ,x812whatever points or pips…it bulked my acc by $812.00…i still dont believe the math is right..but hey…im not complaining.

    someone please help me and i will gladly post the image of the trade since i dont know how…

    many thanx !!

    Reply

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