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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May 2007

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Cowabunga System Daily Update: 05/24/07

Posted 14:33 24 May 2007 | 4

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

12:15 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 9862 with a stop at the most recent swing low which was at 9854. Since I was 38 pips away from the nearest 00 level I set my target at 9900.

3:45 am ET- Unfortunately I was stopped out of my trade.

7:00 am ET- 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 which was at 9862 with a stop at the most recent swing low which was at 9848. Since I was 38 pips away from the nearest 00 level I set my target at 9900.

8:30 am ET- Unfortunately I was stopped out again from my trade.

Trade Result: -8 -14= -22 pips ; R-Multiple= -1.00; -1.00

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

Cowabunga System Daily Update: 06/19/07 16:04 19 June 2007
Cowabunga System Daily Update: 04/16/07 17:37 16 April 2007
Cowabunga System Daily Update: 07/16/07 21:21 16 July 2007
Cowabunga System Daily Update: 04/12/07 14:09 12 April 2007
Cowabunga System Daily Update: 04/04/07 17:16 04 April 2007

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Hi traders out there, After the big pips yesterday I continued my pips hunting with Cowabunga today on Long position as the 4 hr chart remain up. I took my first trade at 13:23GMT @ 1.9869 and risking loss at 1.9838 from the most recent swing low. It�s 30 pips away so I set my risk as my target of 1.9898. Unfortunately after 15:30GMT the highest pip gain was only 1.9887 at the close of the candle. But I continue opening my trade, and forget about the next news coming up at 16:00GMT on US Home Sales. I only realize about the news at 16:26GMT and price continue going down all the way to 1.9837 passing my stop loss at 1.9838. Eventually as a result I loss over 30 pip on today�s trade, where in fact I could gain pip of more than 20. It�s a silly mistake and I don�t write down the next news data. Lesson learned the hard way.

babyfx | Posted 14:53 24 May 2007

Thank you for sharing babyfx!

PipSurfer | Posted 15:32 24 May 2007

What happened for the 22nd of May? No trades?

cosgrove | Posted 14:17 25 May 2007

Yes, on the 22nd of May I was sick so I did not end up trading.

PipSurfer | Posted 14:59 29 May 2007

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