Cowabunga System Weekly Recap: 01/22/07-01/26/07

This is the week in review for the Cowabunga system: January 22-26, 2007

Monday: +26
Tuesday: +86
Wednesday: -19
Thursday: +50
Friday: +16
Total: +159 Pips

Full Track Record

  • terry27

    I’m kinda new to traiding currencies though I’m familiar with it enough to speak the language a little. What would you say is the best technique for new traders? My goal is to make at least $2500 every two weeks. What would I need to do to meet my goal?

  • bigpippin

    Hi Terry,

    Welcome to the site! This question is probably a better fit for our forums since the comment section is mainly for discussing the topic of the blog. You might want to re-post this under the “Newbie Island” section so you can get feedback from other traders, rather than just me.

    In my opinion, you are approaching trading on the wrong foot. Let’s think about your statement for a second…You said you want to make AT LEAST $2500 every two weeks. Now lets look at what some of the top hedge fund managers make per year, which is about 30-40% PER YEAR. Of course they probably take less risk because they are managing other peoples money but 30-40% per year is a phenomenal return.

    Ok now going back to your question..$2500 every two weeks. First of all you’d have to start off with alot of money, which you may in fact have. Let’s say you start with $125,000. You would have to make 2% on your account every two weeks. This would get you you’re $2500 that you want. But that also means you’d theoretically make 4% per month, which theoretically means you’d make a 48% return per year. That’s better than most of the top hedge fund managers. It’s highly unlikely you will be able to acquire this kind of trading skill in such a short period of time.

    If you have this kind of money to begin investing with in the first place, I recommend finding these hedge fund managers and let them do the work for you. If you don’t have this kind of money, then you should read our “School of Pipsology” and then see if you think FX trading is right for you. Trading the FX can be exremely rewarding but you also have to think in realistic terms. I hope I haven’t scared you away from the Forex. I just wanted to get you thinking in the right direction. Happy trading!

  • terry27

    I’m kinda new to traiding currencies though I’m familiar with it enough to speak the language a little. What would you say is the best technique for new traders? My goal is to make at least $2500 every two weeks. What would I need to do to meet my goal?

  • bigpippin

    Hi Terry,

    Welcome to the site! This question is probably a better fit for our forums since the comment section is mainly for discussing the topic of the blog. You might want to re-post this under the “Newbie Island” section so you can get feedback from other traders, rather than just me.

    In my opinion, you are approaching trading on the wrong foot. Let’s think about your statement for a second…You said you want to make AT LEAST $2500 every two weeks. Now lets look at what some of the top hedge fund managers make per year, which is about 30-40% PER YEAR. Of course they probably take less risk because they are managing other peoples money but 30-40% per year is a phenomenal return.

    Ok now going back to your question..$2500 every two weeks. First of all you’d have to start off with alot of money, which you may in fact have. Let’s say you start with $125,000. You would have to make 2% on your account every two weeks. This would get you you’re $2500 that you want. But that also means you’d theoretically make 4% per month, which theoretically means you’d make a 48% return per year. That’s better than most of the top hedge fund managers. It’s highly unlikely you will be able to acquire this kind of trading skill in such a short period of time.

    If you have this kind of money to begin investing with in the first place, I recommend finding these hedge fund managers and let them do the work for you. If you don’t have this kind of money, then you should read our “School of Pipsology” and then see if you think FX trading is right for you. Trading the FX can be exremely rewarding but you also have to think in realistic terms. I hope I haven’t scared you away from the Forex. I just wanted to get you thinking in the right direction. Happy trading!

  • ybop01

    I have created an MT4 indicator for the cowabunga system. No point making an expert as the exits are too discretionary. I don’t want the hassle of sending it out in emails but if there is a facility here to upload it, I would be happy to do so.

  • stdummy

    hey ybop01, i would love to have the indicator upload oplease email me. stdummy@yahoo.com. Thanks, stdummy

  • glippmann

    ybop01 -

    I would be interested in testing your cowabunga indicator for MT4. Does it work for any currency pair or only GBP/USD.

    please send to glippmann@hotmail.com

    Thanks!

  • stdummy

    Big Pippen, On the cowabunga system do you set RSI, Stochastics, and MACD to market close, open, high, low etc.? Also is the stochastics set at simple MA. Thanks in advance, Stdummy.

  • bigpippin

    Everything is applied to the close and I am using slow stochastics.

  • ybop01

    I have created an MT4 indicator for the cowabunga system. No point making an expert as the exits are too discretionary. I don’t want the hassle of sending it out in emails but if there is a facility here to upload it, I would be happy to do so.

  • stdummy

    Big Pippen, On the stochastics MT4 does not list slow. The choices are simple, exponential, smooth, or linear weighted. Which one of these would be the same as slow. Thanks

  • stdummy

    hey ybop01, i would love to have the indicator upload oplease email me. stdummy@yahoo.com. Thanks, stdummy

  • glippmann

    ybop01 –

    I would be interested in testing your cowabunga indicator for MT4. Does it work for any currency pair or only GBP/USD.

    please send to glippmann@hotmail.com

    Thanks!

  • stdummy

    Big Pippen, On the cowabunga system do you set RSI, Stochastics, and MACD to market close, open, high, low etc.? Also is the stochastics set at simple MA. Thanks in advance, Stdummy.

  • bigpippin

    Everything is applied to the close and I am using slow stochastics.

  • stdummy

    Big Pippen, On the stochastics MT4 does not list slow. The choices are simple, exponential, smooth, or linear weighted. Which one of these would be the same as slow. Thanks

  • cosgrove

    ybop01, I will host the file for you (and everyone else) if you email it to me. jecosgro@ncsu.edu

  • bigpippin

    stdummy- Use the simple one

  • bigpippin

    ybop01- You can upload the indicator on our forums. Just place it in the “Free Forex Trading Systems” thread. Thanks for sharing!

  • cosgrove

    ybop01, I will host the file for you (and everyone else) if you email it to me. jecosgro@ncsu.edu

  • bigpippin

    stdummy- Use the simple one

  • bigpippin

    ybop01- You can upload the indicator on our forums. Just place it in the “Free Forex Trading Systems” thread. Thanks for sharing!

  • pacifier

    Good result bigpippin !

    Total R-Multiple for the week amounts to 7.96 (6.14 due to Tuesday’s big win). So those risking 1% of total float per trade would have returned 7.96% this week alone. Nice one bigpippin :)

    Pacifier

  • pacifier

    Good result bigpippin !

    Total R-Multiple for the week amounts to 7.96 (6.14 due to Tuesday’s big win). So those risking 1% of total float per trade would have returned 7.96% this week alone. Nice one bigpippin :)

    Pacifier