Cowabunga System Daily Update: Monday, 08/16/10

The CFTC may be changing the rules for retail traders in the US. This affects many of us in a negative way and we need your help getting our voices heard.

Read more of the details

I can not find better words to describe my position on all this than those from Andrei Pehar, Chief Currency Strategist at fxKnight.com.  

Andrei says: "I am not opposed to regulation nor regulatory agencies. But that regulation needs to be fair, transparent, and open to public input. Otherwise it becomes corrupt and self-serving. Sure high leverage can get you into trouble if used thoughtlessly. Sure hedging when not done properly turns one loss into two. But I believe the cure is EDUCATION, not restricting what people can and cannot do with their investment decisions. Guide, don’t dominate – government was invented to protect people and their property, not to limit their potential.

We at BabyPips.com disagree with the CFTC proposal.

If you disagree as well, you may submit your comments to secretary@cftc.gov.  

Include “Regulation of Retail Forex” in the subject line of the message and the identification number RIN 3038-AC61 in the body of the message. Please, help us to spread the word!

I think this is a very important matter that affects us all, and we should try our hardest to ensure that things will be done for the best of the trading community.

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

Hey dudes and dudettes! I am currently out of town on the west coast of USA checkin out the real waves here in California! I will like try my best to update throughout the week but for sure the updates will continue like normal starting next week.

Like total thanks to all you righteous people for watching this blog and I’ll see you on the flipside!

Cowabunga dudes!

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forex Forums.

  • buddy80

    have fun

  • buddy80

    have fun

  • red77

    How’s it going’ there?! I discovered the forex about 4 months ago and have been pretty much hooked since. I have to say both the wesite and your blog in particaular are super. Keep up the good work. It’s a great help.

    I am trading the EURUSD, but have noticed that the amount of trading oportunities to trade in comparison to the GDPUSD are a lot less. I know you say that you haven’t researched your system on the EURUSD but it does seem to work for me when I stick to the rules.

    The most regular signal that prevents a correct trade entry is the MACD on the EURUSD. I understand the principles of how MACD works. I am still currently trading using your MACD suggestions but I have also set up a MACD with the settings on 6,13,5, and it seems to provide a similar MACD response in terms of trading opportunities that you get on the GDPUSD. My plan is to watch it over the next few weeks to see what trades would be successful using the settings and make a decision then on using them or not. I would like to know what you think of using these lower settings for the EURUSD?

    Please and Thank you.
    ps: keep up the good work. It’s much appreciated.

  • red77

    How’s it going’ there?! I discovered the forex about 4 months ago and have been pretty much hooked since. I have to say both the wesite and your blog in particaular are super. Keep up the good work. It’s a great help.

    I am trading the EURUSD, but have noticed that the amount of trading oportunities to trade in comparison to the GDPUSD are a lot less. I know you say that you haven’t researched your system on the EURUSD but it does seem to work for me when I stick to the rules.

    The most regular signal that prevents a correct trade entry is the MACD on the EURUSD. I understand the principles of how MACD works. I am still currently trading using your MACD suggestions but I have also set up a MACD with the settings on 6,13,5, and it seems to provide a similar MACD response in terms of trading opportunities that you get on the GDPUSD. My plan is to watch it over the next few weeks to see what trades would be successful using the settings and make a decision then on using them or not. I would like to know what you think of using these lower settings for the EURUSD?

    Please and Thank you.
    ps: keep up the good work. It’s much appreciated.