Cowabunga System Daily Update: Thursday, 09/16/2010

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


 

Main Trend

Current Trend

The trend was up the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

3:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.5609 with a stop at the most recent swing low at 1.5582. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5650.

Entry: Long at 1.5609 Stop: 1.5582 Target: 1.5650

4:15am EST- My target wasn’t hit by this time. Since news was coming out at 4:30am EST I manually exited my trade. I got out at breakeven.

6:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.5614 with a stop at the most recent swing low at 1.5571. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5650.

Entry: Long at 1.5614 Stop: 1.5571 Target: 1.5650

8:15am EST- My target wasn’t hit by this time. Since news was coming out at 8:30am EST I manually exited my trade. I got out at breakeven.

10:00am EST- There was a valid signal here but since it was a news candle I did not enter.

entry2

Trade Result: Breakeven (not including spread) R-Multiple: N/A

News events to watch for Friday:

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.

14 comments

  1. noobex

    Dude! I love this website and absolutely enjoyed the education materials.

    One question, what are the variable settings on cowabunga system? By that I mean the stochastics, MACD, RSI and the EMAs.

    Thanks in advance.

    Noobex

    Reply
  2. PipSniper420

    I know you dont include your spread for certain obvious reasons, but could you spend a moment talking about handling spread and incorporating it into a strategy. Thank you, and thank you for the vids.

    PipSniper420

    Reply
  3. noobex

    Dude! I love this website and absolutely enjoyed the education materials.

    One question, what are the variable settings on cowabunga system? By that I mean the stochastics, MACD, RSI and the EMAs.

    Thanks in advance.

    Noobex

    Reply
  4. PipSniper420

    I know you dont include your spread for certain obvious reasons, but could you spend a moment talking about handling spread and incorporating it into a strategy. Thank you, and thank you for the vids.

    PipSniper420

    Reply
  5. hemzer

    Hey cowabunga,

    The settings your have was from 2007, do they still work in 2010 markets or did you have many more tweaks over the years?

    Reply
  6. hemzer

    Cowabunga,

    One more question, All you trades seem based on the 15 in chart readings. Wanted to know what you use the 4 hr chart for?

    Reply
  7. hemzer

    Hey cowabunga,

    The settings your have was from 2007, do they still work in 2010 markets or did you have many more tweaks over the years?

    Reply
  8. hemzer

    Cowabunga,

    One more question, All you trades seem based on the 15 in chart readings. Wanted to know what you use the 4 hr chart for?

    Reply
  9. Nickemp

    noobex

    There is a link above the video each day that says

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

    Has the answers to your questions there

    Cheers

    Nic

    Reply
  10. Nickemp

    noobex

    There is a link above the video each day that says

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

    Has the answers to your questions there

    Cheers

    Nic

    Reply

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