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


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If this is your first time visiting this blog, read this first! 

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.

  • 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.

  • pizal

    Congrats on the new house. Glad to have you back.

  • 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.

  • pizal

    Congrats on the new house. Glad to have you back.

  • 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.

  • tsimeremari

    Finally…Pipsurfer…my hat’s off for you, Great job buddy !!!

  • 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 !!

  • 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.

  • tsimeremari

    Finally…Pipsurfer…my hat’s off for you, Great job buddy !!!

  • 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 !!