Cowabunga System Daily Update: Monday, 10/04/2010

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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

6:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive. This cancelled out the signal and I did not enter.

11:30am EST- There was a valid signal here but because it was right before 12noon EST (the end of our trading session), I did not enter.

entry2

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Tuesday:

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.

10 comments

  1. jrasul

    Hi Pip Surfer,

    I know that your system is probably one of the most famous systems that is talked about. I was wondering what is average pip amount during a week. Your answer is greatly appreciated!

    Reply
  2. jrasul

    Hi Pip Surfer,

    I know that your system is probably one of the most famous systems that is talked about. I was wondering what is average pip amount during a week. Your answer is greatly appreciated!

    Reply
  3. Cpt

    Hey pipsurfer,
    I’ve got a question concerning the ‘clean break’, what happens to your SL and TP when price actually does make a clean break at the next 50 level?

    Keep it up man

    Reply
  4. Cpt

    Hey pipsurfer,
    I’ve got a question concerning the ‘clean break’, what happens to your SL and TP when price actually does make a clean break at the next 50 level?

    Keep it up man

    Reply
  5. jsd1004

    I think i can answer the Q’s. Q1. Depends on timeframe. Its been approx -30 pips a week for the last month but CB usually makes it up due to timing his clean breaks correctly. Q2 He does not use TP only SL. He gauges the reaction of the markets using intuition and decides to close trade on that basis. He is usually very successful at getting out at, above or with minimal slippage at his target. Why he does not use the same system as a stop loss maybe he can answer.

    Reply
  6. Muyen

    Hi CB please how can i get EMA on my MT4 ’cause on the indicator chart it’ only moving average of which SMA will pop out or can i use it for EMA too.
    Please reply.
    Thanks
    Muyen

    Reply
  7. jsd1004

    I think i can answer the Q’s. Q1. Depends on timeframe. Its been approx -30 pips a week for the last month but CB usually makes it up due to timing his clean breaks correctly. Q2 He does not use TP only SL. He gauges the reaction of the markets using intuition and decides to close trade on that basis. He is usually very successful at getting out at, above or with minimal slippage at his target. Why he does not use the same system as a stop loss maybe he can answer.

    Reply
  8. Muyen

    Hi CB please how can i get EMA on my MT4 ’cause on the indicator chart it’ only moving average of which SMA will pop out or can i use it for EMA too.
    Please reply.
    Thanks
    Muyen

    Reply

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