About Pip My System

Pip My System Author

Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new to the blog you should read this first.

Cowabunga System FAQ

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Cowabunga System Daily Update: 04/03/07

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

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today's Surf

2:00 am ET - 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 which was at 9786 with a stop at the most recent swing low which was at 9770. Since I was only 14 pips away from the nearest 00 level, I decided to go for a couple more pips and go for the same amount of pips I was risking, which in this case was 16. This put my target at 9802.

2:15 am ET- My target was hit. There was not a clean break so I took my final profit.

Trade Result: +16 pips; R-Multiple= 1.00

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.

Comments (4)

I see you changed your MACD settings to the default as most of
other people have. Now you need to to take that MACD question from FAQs to avoid confusion

ahh yes! Good call eyecelll. Thanks for reminding me dude! :)

QUESTION-- What is the "CABLE"

The Cable is a nickname for the GBP/USD. Sorry for the confusion :)

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"If you are aware of your weaknesses and are constantly learning, your potential is virtually limitless."
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