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 system and apply it to an unsimple market. If you're new to the blog you should Cowabunga System Daily Update: 05/07/07
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
1:15 am ET- There was a moving average crossover for a long trade. However, stochastics were not trending up which negated the signal. No entry.
5:30 am ET- There was a moving average 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 9963 with a stop at the most recent swing low at 9959. Since I was 37 pips away from the nearest 00 level I decided to put my target at 2.0000.
6:45 am ET- Unfortunately I was stopped out of my trade
10:45 am ET- There was a moving average crossover for a long trade. However, stochastics were not trending up which negated the signal. No entry.
Trade Result: -4 pips ; R-Multiple= -1.00
