Cowabunga System Daily Update: Tuesday, 11/15/11

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

Main Trend

Current Trend

The trend was DOWN the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

1:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.5877 with a stop at the most recent swing high at 1.5897. Since I was 27 pips away from the nearest 50 or 00 level I put my initial target at 1.5850.

Entry: Short at 1.5877 Stop: 1.5897 Target: 1.5850

2:00am EST- Unfortunately I was stopped out of my trade. (-20 pips)

4:00am EST- There was a valid signal here but because it was right before news, I did not enter.

8:00am EST- There was a valid signal here but because it was right before news, I did not enter.

entry2

Trade Result: -20 pips R-Multiple: -1.00

News events to watch for Wednesday:

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.

5 comments

  1. Terry Gu

    Hi Pip Surf,

    May I ask what is the avg. winning % and profit-loss ratio for this system?

    Thank you, and good luck trading

    Reply
  2. ata

    This trading system seems quite promising, but on the other hand it doesn’t seem to work for some people. I was wondering what your average weekly/monthly pip gain is when you trade this system and has it been consistent over the years?¬†

    Reply
    • Pipmaestro2

      its a good system,except he places to much value on the news,and doesnt let his profits ride.im currently fiddling with the same sort of system except mines is more discretionary. it looks promising as im seeing a high probability of success

      Reply

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