About Pip My System

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.

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April 2007

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Cowabunga System Daily Update: 04/12/07

Posted 14:09 12 April 2007 | 3

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

1:15 am ET - There was a moving average crossover for a long trade. RSI was greater than 50, Stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle which was at 9761 with a stop at the most recent swing low which was at 9740. Since I was 39 pips away from the nearest 00 level I decided to set my target at 9800.

4:30 am ET- Unfortunately I am stopped out of my trade.

6:45 am ET- There was a moving average crossover for a long trade. RSI was greater than 50, Stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle which was at 9762 with a stop at the most recent swing low which was at 9735. Since I was 38 pips away from the nearest 00 level I decided to set my target at 9800.

10:15 am ET- My target is hit and it looked like the Cable was struggling to stay at 9800 so I went ahead and took my final profit

Trade Result: -21 +38 = +17 pips; R-multiple= -1.00; 1.40

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: 04/11/07 16:12 11 April 2007
Cowabunga System Daily Update: 04/04/07 17:16 04 April 2007
Cowabunga System Daily Update: 04/16/07 17:37 16 April 2007
Cowabunga System Daily Update: 04/13/07 15:37 15 April 2007
Cowabunga System Daily Update: 07/16/07 21:21 16 July 2007

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hi BP, I understand the software that u use is Xtick, My question is how can I set up my charts to look like the cowabunga system? Iv'e read FAQ but I still need help. thanks

Jnun2007 | Posted 15:39 12 April 2007

I saw the buy trade at 1:15am -- but I did not take it b/c histogram was already positve. I thought the rule is histogram has to be negative moving to positive. In this case it seems histogram was moving from positive to another positive -- which should have invalidated the trade --as per cow bunga rules. Correct?

pinetree | Posted 11:20 13 April 2007

Jnun- What specifically are you having problems with in the setup?

pinetree- If you stretch out your MACD histogram you'll see that it actually was negative for 1 bar right before our signal. On my chart above, I didn't stretch it out so it looks like it's actually slightly positive. Go back to that signal and stretch out your MACD histogram and you'll see that it was actually a valid signal. Happy trading!

bigpippin | Posted 15:43 15 April 2007

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