Cowabunga System Daily Update: 03/14/07
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Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today's Surf
12:45 am ET- 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 which was at 9266 with a stop at the most recent swing high which was at 9304. Since I was only 16 pips away from a 50 level I decided to set my target for the same amount of pips I was risking on the trade, which in this case was 38. This put my target at 9228.
3:15 am ET- My target was hit!
Trade Result: +38 pips; R-Multiple= 1.00
Totally righteous dude! Today I was finally able to get back on the waves and catch some awesome pippage!
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Related Posts:
- Cowabunga System Daily Update: 03/15/07 16:02 15 March 2007
- Cowabunga System Daily Update: 04/03/07 15:24 03 April 2007
- Cowabunga System Daily Update: 04/27/07 14:33 30 April 2007
- Cowabunga System Daily Update: 07/09/07 15:57 09 July 2007
- Cowabunga System Daily Update: 03/13/07 16:37 13 March 2007
Archived Comments (2)
Forex Blog: Pip My System
Good call.
PS. --here is a question. Before entering a trade, when the 4h and 15 min chart is alligned - I tend to take a quick look at the 5 min and 1 min chart --just to see if it is following in the general trend -- if not I prefer to wait --because you are sure to loose a few pips in the begining. Why jump in if the 5 and 1 min chart is going against you.
What is your opinion about that?
Also please take a moment to answer a few basic question --do you live in the ET time zone? -- what is your method of alerts --are you alerted by your cell phone and make trades on your phone -- or do you wait by the computer at home? are you up all night watching the market and sleep in the day. This has been a big challenge for me and as the Gbp/Usd seem to be active in the late hours of the night. If you live in the ET time zone, I'm interested in how you handle this. --Cheers.
pinetree- please read the FAQ. All your questions will be answered there.