Cowabunga System Daily Update: 05/29/07
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Main Trend
Current Trend= Woowee! We had 2 different trend change candles during the same trading session!
Because of the choppy conditions, I decided to relax on the beach and let my pip board take a break for today. Those waters were vicious today!
Trade Result: -0 pips; R-Multiple= 0
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Related Posts:
- Cowabunga System Daily Update: 03/29/07 13:33 29 March 2007
- Cowabunga System Daily Update: 03/01/07 15:17 01 March 2007
- Cowabunga System Daily Update: 03/09/07 16:27 09 March 2007
- Cowabunga System Daily Update: Tuesday, 01/08/08 16:09 08 January 2008
- Cowabunga System Daily Update: 02/20/07 14:13 20 February 2007
Archived Comments (4)
Forex Blog: Pip My System
Dear Pip Surfer,
I've been following your system for awhile now and just have one question. After the EMA cross on the 15 minute chart, do you immediately enter the trade when the next candle opens, or do you wait to see if the cross is maintained before entering? Thanks for all of your help!
A somewhat related question from me: My understanding is that the trade is entered immediately when the next candle opens. But in reality Pip Surfer, how do you enter the trade immediately if you are relying on email alerts? By the time you get to your computer and have checked the conditions, how much time has passed, 5 minutes? It's just that in your blog you always seem quote the candle close price as your entry, but surely by the time you enter, the price may have moved a few pips?
I set my alerts so that it immediately notifies me when a crossover has happened, rather than alerting me when the candle has closed. As a result, I can usually be at my computer before the actual candle closes. Once I have my eye on the candle, I wait for it to close and as long as all the other conditions are met, I immediately enter a market order. Hope that helps! Happy trading!
ah, okay! I guess you get many false alerts then! I'm thinking of trying to automate this system as I don't have the luxury of being able to watch my screen all the time...