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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Cowabunga System pulls in +20 pips

Posted 14:20 12 January 2007 | Comments

Main Trend

Current Trend= Up

Today's trend was up and and I only looked for long trades.

Today's Surf

The Cowabunga system had a long signal at 10:45 pm ET last night. The entry was at 9444 with a stop at 9425. Since the entry was right below the 50 level, I decided to go for the same amount of pips I was risking, which in this case was 19 pips. I rounded up and set my target for +20 pips at 9464, which was hit at 11:45 pm ET. I know I missed alot of that move during the Cable rally but my trade occurred before midnight so I was being extra careful. I also didn't re-enter because although I did see more moving average crossovers, my MACD was already positive and that doesn't fit into my trading rules.