Cowabunga System Weekly Review: 01/29/07 - 02/02/07
This is the week in review for the Cowabunga system: January 29 - February 2, 2007
| Monday: | +32 |
| Tuesday: | +0 |
| Wednesday: | -13 |
| Thursday: | No trade |
| Friday: | +40 |
| Total: | +59 Pips |
Full Track Record
Related Posts:
- Cowabunga System Weekly Update: 02/19/07 - 02/23/07 11:46 24 February 2007
- Cowabunga System Weekly Review: 02/12/07 - 02/16/07 11:31 17 February 2007
- Cowabunga System Weekly Review: 02/05/07 - 02/09/07 11:00 10 February 2007
- Cowabunga System Weekly Recap: 01/22/07-01/26/07 22:21 27 January 2007
- Cowabunga System Weekly Review: 05/07/07 - 05/11/07 14:33 14 May 2007
Comments (6)
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Forex Blog: Pip My System
hey Big Pippin,
Ive just recently joined babypips and have found it to be a fantastic learning resource for a newbie like me, also the cowabunga system seems to work really well so far. thanks for sharing it with us!!
Although I do have a couple of questions.
You mention that you close any open position at 9pm GMT.
how long near the end of the US Session do you wait before you enter another valid trade signal?
if you miss a trade and then get another valid signal shortly afterwards or later in the day, would it still be ok to get in on it?
thanks
Hey bigpippin,
You followed your system religiously in January. Well Done !
I am still not clear with regards to your daily "time" routine for this system.
What time do you first check your charts ? When do you finish ? Is there a time near the close of the US session where no more trades can be placed ? In practice, how do you monitor your 15min charts ? Do you use alarms ?
Please kindly answer the above in GMT format.
Keep up the good work !
Pacifier
Hello B. Pippin, I have further very good results mit CW. I have just one doubt. I've had 1.9600 TP (05/02/2007 9:30GMT). The price hit the target, goes a little bit up and then fall to cca 1.9562. I stopped the trade on 00 level. I couldn't trail the SL to break-even, cause I would be catched. What makes you confident to go futher with the trade. Shoul I left some amount of pips against me as a risk? Thank you in advance.
Riddla- I won't take a trade after 2pm ET unless something just happened (i.e. interest rate announcement). And yes you can enter if more than one signal happens a day. Read my previous posts and you'll see that on some days I've had up to 3 trades.
Pacifier- I live by my alerts. Basically I just look at what trend I'm in from the 4hr chart and depending on which it is, I'll set alerts to notify me of a MA crossover (on the 15 min chart) in the direction of the current trend. Sometimes the signal will be false. And sometimes it's valid. I also set alerts to notify me if there is a trend change on the 4hr chart. I don't spend too much time on the charts unless I get an alert or the price is near my target and I'm watching the price action.
Ivan- If it hits my target, I'll watch it closely. I don't move my stop right away. I like to wait a little bit and just try to "feel" the market. Sometimes I'll move my stop too early and get stopped out. Other times I'll move it at the right time and catch more pips. It's an art, not a science, so you just have to keep working on it.
Bp, could you further elaborate on -- "I live by my alerts."
First -- what exactly is your alert. Is it only the MA crossover? Is there an alert on the Stochastics and RSI as well? Also is the alert on both the 4h and 15 min chart?
Second - how do you set price alerts?
Lastly -- do you watch the market all day and night -- or only at peak hours.
When you say "I live by my alerts" -- are you watching the currences 24/7 --
my alert is for an MA crossover. When I get it, I look at the chart and see if the other conditions are met. I also set an alert for an MA cross on the 4hr chart to notify me of any trend change candles. I don't "watch" the markets. I only watch them when I get an alert. Various charting software programs let you set alerts up if certain conditions are met. I use Xtick and it lets you paint your candles when certain conditions are met (i.e. my purple and black candles for MA crossovers) and it can also send you alerts to your email.