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.

Cowabunga System FAQ

Del.icio.us Bookmark

Technorati Favorite

Latest Posts

May 2007

S	M	T	W	T	F	S
		1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30	31

Cowabunga System Daily Update: 05/16/07

Posted 14:08 16 May 2007 | 3

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

Main Trend

Current Trend= The trend remained up until 12pm ET. From 8am - 12pm ET, a new trend change candle formed and changed the trend from up to DOWN. After 12pm ET, the trend remained down for the rest of the day.

Today I looked for long trades until 12pm ET. After 12pm ET I only looked for short trades

Today's Surf

12:30 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 9850 with a stop at the most recent swing low which was at 9846. Since I was 50 pips away from the nearest 00 level I set my target at 9900.

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

Trade Result: -4 pips ; R-Multiple= -1.00

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: Monday, 10/08/07 14:00 08 October 2007
Cowabunga System Daily Update: 04/30/07 16:43 30 April 2007
Cowabunga System Daily Update: 03/26/07 15:05 26 March 2007
Cowabunga System Daily Update: 09/19/07 12:01 19 September 2007
Cowabunga System Daily Update: 05/08/07 15:35 08 May 2007

« Previous Entry Next Entry »

Dude, I don't understand why Cowabunga not enter trade after 12pm for short. MACD was positive and going down. The main trend shows short trade after 12pm.

babyfx | Posted 20:35 16 May 2007

BabyFX- Hey dude! The entry after 12pm didn't occur until 3:15pm ET. According to my rules I exit my trades at 4pm ET no matter if I win or lose. Usually when a trade signal comes that late in the day I don't take it because market volume is usually very low at that time. However, if I am already in a trade, I will hold it all the way until 4pm ET to see if I will win or lose. Hope that helps! Cowabunga!

BigPippin | Posted 14:25 17 May 2007

Cowabunga! Thanks Dude for the explaination. I forget the trading time rules. And as of trade on 17 May I overlook it and miss the opportunity. What a shame on me. Happy trading....

babyfx | Posted 20:51 17 May 2007

Oh snap! You need to be signed in to post comments! If you're already a BabyPips.com member, please sign in. If you aren't part of our ridiculously cool club, please register. It's free! And cool.