Cowabunga System Daily Update: Tuesday, 08/07/2012

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

3:15am 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 1.5608 with a stop at the most recent swing low at 1.5562. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5650.

Entry: Long at 1.5608 Stop: 1.5650 Target: 1.5562

4:15am EST- My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I went ahead and manually exited my trade. I got out at 1.5617. (+9 pips)

entry2

Trade Result: +9 pips R-Multiple: 0.19

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.

  • stevecheno

    I’m a newbie so please forgive my ignorance. I am using 2 and 5 EMA on a demo account. I find it triggers a trade earlier that your system. I am sure you have already tested this. So my question is: Why shouldn’t I be usinsg 2 and 5 EMA instead of your 5 and 10 EMA? I like your system and thank you for sharing it. It is very kind of you to help us who need help. Thanks.
    Stevecheno

  • Michael J Dillon

    Hello,this is your post: “The entry was at the close of the candle at 1.5608 with a stop at the most recent swing low at 1.5562. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5650.Entry: Long at 1.5608 Stop: 1.5650 Target: 1.5562″ you put the stop and target values in the wrong places,(yes I’m being Anal here) but my main thought is with your exit parameters before the news announcement, wouldn’t a better way to lock in a few pips and maybe gain more be to move the stop to +5 and ride out the news?

  • JJ6845616

    Great Cowabunga..you beautifully stick with your system and that should be the biggest weapon of every trader.

  • Forex trading guide

    Was able to fix how the thoughts came out,didn’t know it could be modified, it was all complicated with like value structure.

  • Sebastian van Marwin

    Hello Pip Surfer, can you be please so kind and make a new video, like few years ago? Thanks a lot

  • trader-fuel.com

    You’ve been around from the early days, continued success!

  • bears1804

    You should be congratulated for helping others with sharing your ideas. Can you tell me how successful your system has been?

  • Phepi

    Hello Pip Surfer, can you be please so kind and make a new video, like few years ago? Thanks a lot

  • kchan

    I would like to know what   is cowabunga system. Where can I find the details? plsehelp.thanks

  • Michael J Dillon

    Was able to repair how the comment came out,didn’t know it could be edited, it was all garbled with like code format.

  • trade forex

    I would like to know what is cowabunga program. Where can I look for the details?

  • JJ6845616

    Hello Cowabunga!your page at meetpips.com doesn’t seem to work probably that’s an invalid address.Can u tell me where can i check your previous record?

  • Kousuik

    What is Cowabunga system? where to read this system please send me the link for this to my e-mail kousuik@yahoo.co.uk

  • har

    Great Cowabunga