So You’ve Finished The School Of Pipsology…Now What?

Taking the Next Step

Graduation day is here! You’ve finally finished reading and re-reading every page of the School of Pipsology and have passed all the quizzes. The only problem now is that you don’t know what to do next. You want to jump in the market but aren’t quite sure where to start. If you fit into this category, then this blog is for you.

Introducing the Pip My System blog!

Here I will take a simple system and apply it everyday to the Forex market. By following along, I hope that you’ll be able to use this as a guide for following your own trading system each and every day. But before you follow along, here is a little background on the system that I will be trading.

About The System

The system is mostly based on the example given in the Mechanical Trading System lesson in our School of Pipsology, but I’ve added a few tweaks that I think will help filter out those whipsaws and increase our win percentage. While the title of the system in the lesson is called the "So Easy It’s Ridiculous" system, actually applying it is not. The point I try to stress is that a trading system can be simple and profitable at the same time. This blog will attempt to guide you on the application part of it

The Main Trend Is Your Friend

The main concept of the theory is to catch small trends during the day while avoiding fakeouts. Simple right? Wrong! It’s easier said than done. I will be making my trades off of a 15 minute chart, but I will be using a 4hr. chart to give me my main trend. If my 4hr. chart is trending up, then I will only be looking to go long on the 15 minute chart. On the other hand, if my 4hr. chart is trending down, then I will only be looking to go short on the 15 minute chart. By looking at the main trend first, I will have a better chance for a winning trade by moving along with the current market direction.

4hr. Chart Settings:

  • 5 EMA applied to the close
  • 10 EMA applied to the close
  • Stochastic (10,3,3) (Use slow and simple settings)
  • RSI (9) (Simple)

The 15 Minute Chart

After establishing the main trend , it’s time to look for trade entries on the 15 minute chart. The 15 minute chart looks similar to the 4hr. chart, except for the fact that I have added a MACD histogram. The trade entry rules are simple:

15 Minute Chart Settings:

  • 5 EMA applied to the close
  • 10 EMA applied to the close
  • Stochastic (10,3,3) (Use slow and simple settings)
  • RSI (9) (Simple)
  • MACD (12,26,9) (Exponential histogram)- Make sure the histogram displays the difference between the 2 lines

Long trades:

  • 5 EMA must cross above the 10 EMA (Indicated on my chart by a black candle)
  • RSI must be greater than 50
  • Stochastic must be headed up and not in overbought territory
  • MACD histogram must go from negative to positive OR be negative and start to increase value. (We want to catch trends early so the MACD histogram must be negative)

Short trades:

  • 5 EMA must cross below the 10 EMA (Indicated on my chart by a purple candle)
  • RSI must be less than 50
  • Stochastic must be headed down and not in oversold territory
  • MACD histogram must go from positive to negative OR be positive and start to decrease in value. (We want to catch trends early so the MACD histogram must be positive)

15 Minute Chart Setup:

  • 5 EMA applied to the close
  • 10 EMA applied to the close
  • RSI (9)
  • Stochastic (10,3,3)
  • MACD Histogram (12,26,9)

Stop Losses

There is not a hard number that I use for a stop loss. Instead I use either the most recent swing low (for long trades) or the most recent swing high (for short trades) as my stop loss. Using the examples above, this is where I would place my stops:

In these examples, the stop losses were not that wide. However, there will be times when the most recent swing high or low is several pips away from your entry. This is where you must be careful. If the stop is too wide for you to keep within your money management rules, simply stay out of the market! Trust me, there will always be another trade later. Even if that trade happens to win a gazillion pips, you should never compromise or doubt your decision to follow strict money management.

Exits

Here’s where things get a little hairy. You’ll have to use your brain for this one. What’s that? A trading system that actually requires you to think?! But don’t worry; it’s really not that hard. Generally 50 and 00 levels will be your targets. What is a 50 or 00 level? It’s simply any price that ends in 50 or 00. For example, 2550 and 2600 are examples of a 50 and 00 level respectively.

However, if you are too close to a 50 or 00 level you can also choose to set your target for the same amount of pips you are risking. For example, if your going long and your entry is at 2445 and your stop loss is at 2425 you would be risking 20 pips. You could then set your target for 20 pips away from your entry. So in this example your target would be 2445 + 20= 2465.

Record Keeping

I will have a dedicated post that will constantly be updated as we go along. I’ll list total number of trades, number of wins/losses, average winners, average losers, max drawdown, and max winning streak. That way we can track the progress of the system as we go along.

Conclusion

If you’re sharp, you may have noticed that I use RSI and Stochastic which both measure overbought and oversold extremities. Referred to as multicollinearity, it’s often frowned upon to use 2 indicators that pretty much tell you the same thing. However, in this case I am using RSI as more of a trend confirmation tool rather than an overbought/oversold tool.

I also must mention that I will only be trading the GBP/USD. If you’re starting out in the Forex, it’s best that you stick to one pair so that you can focus all of your concentration on it. After a while, you’ll start to get a feel for its movements, and it will help build your "intuition" on future moves. This is something that will come in handy as you become a more experienced trader.

I will never trade a news candle or the candle before it. If I am in a trade and a major news event is coming up, I will exit my trade before the report is released. I will however trade a candle after the news provided all my criteria are met.

Signals that occur before 12 midnight ET should be taken with caution. While you can still take them, you should be cautious because market volume is very quiet before the Euro session. As of 3/5/07 I am only taking signals that occur after 12 midnight ET.

I will close my trade whether I’m in the money or not at 4pm ET because market volume is very low at this time. Trade signals that you see before 12 am ET (midnight) should be taken with discretion because market volume is also low at this time. Optimal signals usually come after 1am ET.

Rules are made to be broken! Yes it sounds like a direct contradiction of what we preach but you have to remember that you are not a robot. There will be times when you will have to adjust to the market conditions and *gasp* break your rules. In the rare occasions that this happens, I will put out an update post to let you know of any split decisions I have to make and why I made them.

In conclusion, I wanted to give this system a name. After all, I don’t just want to refer to it as the "So Easy It’s Ridiculous" system since we’ve already established that applying a system to the Forex is far from simple. So as I thought about it, I tried to come up with a name that is relevant to the system’s characteristics and at the same time, have it be a really cool name. Since the system attempts to ride the waves of the market I thought it would be appropriate to name it using the language of the surfers. So without further ado…I present to you:

Read the most frequently asked questions about the Cowabunga System

208 comments

  1. Mianko

    Pip My System how can we get a different color candlestick when the 5ema crosses the 10ema… Do we have to add something to our meta trader 4 platform or just change some settings?

    Thanks

    Reply
    • xxxTRADERxxx

      hi, maybe somebody allready replied to your question ,but you can use a EMA crossover indicator. It’ll give you an arrow when it crosses if you want.

      Reply
  2. vincejg327

    COWABUNGA Dude!!

    On the Forums there was an EA created for this cool system. However, the performance was less than expected. I have been tweeking it and have gotten it to a Backtest level that I am now going to Forward Test it. Hope it holds up.

    Anyone interested in details on this, feel free to e-mail me.
    Happy Pip-ing
    Vince

    Reply
  3. János Rauschenberger

    I’m very glad to see this system, because im going to begin live trading very soon and my system looks very similar to this, though i didnt know this one before. On EUR/USD it gives quite pleasant results even on the 5 minute frame. It’s good to see that this has been proven succesful.

    Reply
  4. Heetan91

    whats the updated you guys got for this system because this was made in 2007. there should be more things you guys figured out. im a new trader and would like to follow this

    Reply
  5. S Johnson

    I’ve been trading for awhile now, continuously tinkering with my settings and they’ve been pretty accurate but “pretty accurate” means plenty of failed trades. Self-taught the whole way, very frustrating. These settings just completed my search for a trading system! Those that heed the advice here will profit tremendously.
    Thank you VERY much for this one little web page!!! 

    Reply
  6. vincejg327

    Found the Cowabunga EA in the Forum and decided to try it. Tried it on GBPUSD m15 without much success. However, tried it on EURUSD m15 and had better results. Optimized the EA on the Pair and found m5 was better. Further optimized the settings and modified the lot calculation so it varies with the account balance until the return was astonding. I have attached an image of the backtesting I did.
    I like your system and I am going to let it run in demo for awhile to see how it performs. Will let you know what my findings are.

    Reply
  7. sabaifx

    thanks posting this. I have been trading demo since april 06 and live since Aug. 06. I have tried many systems from very complicated to simple and…before reading this had settled on a system very similar to yours. I have my RSI at 10 and only trade when get a good croos of the 50 level. Have the MACD and an indicator that tells the direction of all time frames from m1 to D1. I also use a MA. It is simple but efffect.

    Reply
  8. sabaifx

    thanks posting this. I have been trading demo since april 06 and live since Aug. 06. I have tried many systems from very complicated to simple and…before reading this had settled on a system very similar to yours. I have my RSI at 10 and only trade when get a good croos of the 50 level. Have the MACD and an indicator that tells the direction of all time frames from m1 to D1. I also use a MA. It is simple but efffect.

    Reply
  9. Big Pippinbigpippin

    James- it will not work on the 5 minute chart.

    sabaifx- sometimes the best systems are the simplest :) I’m glad you found a system that’s working for you!

    Reply
  10. Big Pippinbigpippin

    James- it will not work on the 5 minute chart.

    sabaifx- sometimes the best systems are the simplest :) I’m glad you found a system that’s working for you!

    Reply
  11. terrancead

    Thanks 4 the Cow-A>bonga ~
    I will use this all next week…
    I also have DiNapoli’s MACD predictor’
    this helps me enter 2minute charts and exit 0ne minute:

    Reply
    • megads

      Hi terrancead
      I see you are using the di Napoli macd predictor. I am looking for this indicator. Can you tell me where I can find it ?
      Thank you for your reply.

      Reply
  12. terrancead

    Thanks 4 the Cow-A>bonga ~
    I will use this all next week…
    I also have DiNapoli’s MACD predictor’
    this helps me enter 2minute charts and exit 0ne minute:

    Reply
  13. felgra

    Hi,

    Your system seems to be working well. Do you have to be at your monitor all trading hours to see the set up? Is there a way to know when the build up is to start?

    Thanks

    Felix

    Reply
  14. Big Pippinbigpippin

    It’s true that a signal can come at any time in the day. I usually start looking for signals after 6pm ET. The best signals, however, usually come after midnight so if you just want to be safe then you can start looking after that time. In addition, my charting software allows me to set alerts to my phone. What I do is I find out my main trend using the 4hr chart and if the main trend is UP then I set my software to alert me if there are any moving average crossovers for a long trade. If the main trend is DOWN then I set my software to alert me if there are any moving average crossovers for a short trade. Sometimes it will be a false signal and I’ll just reset my alert, but other times I’ll actually have a valid entry. I live in the Eastern Time Zone so it’s particularly hard for me to be in front of the charts at all times but the alerts save me from this road block.

    Reply
  15. felgra

    Hi,

    Your system seems to be working well. Do you have to be at your monitor all trading hours to see the set up? Is there a way to know when the build up is to start?

    Thanks

    Felix

    Reply
  16. Big Pippinbigpippin

    It’s true that a signal can come at any time in the day. I usually start looking for signals after 6pm ET. The best signals, however, usually come after midnight so if you just want to be safe then you can start looking after that time. In addition, my charting software allows me to set alerts to my phone. What I do is I find out my main trend using the 4hr chart and if the main trend is UP then I set my software to alert me if there are any moving average crossovers for a long trade. If the main trend is DOWN then I set my software to alert me if there are any moving average crossovers for a short trade. Sometimes it will be a false signal and I’ll just reset my alert, but other times I’ll actually have a valid entry. I live in the Eastern Time Zone so it’s particularly hard for me to be in front of the charts at all times but the alerts save me from this road block.

    Reply
  17. Big Pippinbigpippin

    maatglobal- I recommend using software than gets a direct feed from your broker that way your charts match your actual rates.

    edd2000uk- Moving any lower than a 15 minute chart is dangerous because you are basically just trading more “noise”. For example, if you attempt to trade a 5 minute chart, you’ll be getting signals left and right which may lead to some winning trades, but in the long run you will be whipsawed many times because of the knee jerk reactions that a shorter time frame will give you. I think that even 15 minute charts is borderline, but I’ve tested the system and it seems to work just fine on this time frame. I highly recommend that you stick with a 15 minute chart or higher. I say higher because the longer the timeframe you use, the more reliable your indicators become. You’ll get fewer signals but the ones you do get will be a little more reliable. So if you would like to try this system on a higher time frame, that would be ok. Just be sure to demo it first.

    Reply
  18. sambhu

    I do not mind to get fewer signals if they are more reliable. I have decided to try on 30M and 1H charts. As for Stop Loss and Exit rules I think some adjustments are required to be made.Please help.
    I am a regular(demo)trader yet to get confidence of opening a real account.

    Reply
  19. Big Pippinbigpippin

    maatglobal- I recommend using software than gets a direct feed from your broker that way your charts match your actual rates.

    edd2000uk- Moving any lower than a 15 minute chart is dangerous because you are basically just trading more “noise”. For example, if you attempt to trade a 5 minute chart, you’ll be getting signals left and right which may lead to some winning trades, but in the long run you will be whipsawed many times because of the knee jerk reactions that a shorter time frame will give you. I think that even 15 minute charts is borderline, but I’ve tested the system and it seems to work just fine on this time frame. I highly recommend that you stick with a 15 minute chart or higher. I say higher because the longer the timeframe you use, the more reliable your indicators become. You’ll get fewer signals but the ones you do get will be a little more reliable. So if you would like to try this system on a higher time frame, that would be ok. Just be sure to demo it first.

    Reply
  20. sambhu

    I do not mind to get fewer signals if they are more reliable. I have decided to try on 30M and 1H charts. As for Stop Loss and Exit rules I think some adjustments are required to be made.Please help.
    I am a regular(demo)trader yet to get confidence of opening a real account.

    Reply
  21. mi5hmash

    Hiya BigPippin,

    I am under going in trying your system out to learn more. I think its one of those systems where it is good to learn.

    I was just woundering when setting the Stochastic indicator, which one is it. On the software im demoing on it shows 5 different ones. There is “Stochastic Momentum Index, Stochastic Oscillator(Fast), Stochastic Oscillator(Full), Stochastic Oscillator(Slow) and Stochastic RSI Oscillator?

    Thank You

    Reply
  22. mi5hmash

    Hiya BigPippin,

    I am under going in trying your system out to learn more. I think its one of those systems where it is good to learn.

    I was just woundering when setting the Stochastic indicator, which one is it. On the software im demoing on it shows 5 different ones. There is “Stochastic Momentum Index, Stochastic Oscillator(Fast), Stochastic Oscillator(Full), Stochastic Oscillator(Slow) and Stochastic RSI Oscillator?

    Thank You

    Reply
  23. chaochianglin

    I AM INTERESTING TO KNOW YOUR Xtick TRADING SOFTWARE, WHERE TO GET IT? IT CAN GET YOU ALERT THROUGH TELEPHONE? i am extreme new to forex? thanks..

    Reply
  24. ahmedsamy

    What I have learned from this article is much worth than the training at forex.com

    Thank you very much for sharing your knowlege

    Reply
  25. ahmedsamy

    What I have learned from this article is much worth than the training at forex.com

    Thank you very much for sharing your knowlege

    Reply
  26. dfstone32

    I’ve created an indicator for metatrader based on your system.

    I want to be sure of the parameters for overbought/oversold

    If Stocastics is Above 80 you won’t go long, or Below 20 you won’t go short on both the 240 and 15 min charts or just the 15?

    Both The Main and Signal Lines above 80 or Below 20?

    Do you not trade if RSI also reaches certain levals.

    When I’m done I’d be happy to send you a copy.

    THANKS

    Reply
  27. dfstone32

    I’ve created an indicator for metatrader based on your system.

    I want to be sure of the parameters for overbought/oversold

    If Stocastics is Above 80 you won’t go long, or Below 20 you won’t go short on both the 240 and 15 min charts or just the 15?

    Both The Main and Signal Lines above 80 or Below 20?

    Do you not trade if RSI also reaches certain levals.

    When I’m done I’d be happy to send you a copy.

    THANKS

    Reply
  28. swdrsk88

    im using xtick, and i was playing with your system on it…how do get it to send me an alert if the moving average changes?

    Reply
  29. swdrsk88

    im using xtick, and i was playing with your system on it…how do get it to send me an alert if the moving average changes?

    Reply
  30. GenghisClown

    It’s interesting to see others have the same aversions I’m developing to trading news days. I’ve been experimenting with a quasi-random system that focuses on money management, with results that were looking quite good until yesterday. For no apparent reason, I started getting chewed up… then I saw people were talking about the CPI, and the stock market was plunging. Ah, well. I guess that’s what practice accounts are for. Interesting system here… I’ll be checking back in.

    Reply
  31. GenghisClown

    It’s interesting to see others have the same aversions I’m developing to trading news days. I’ve been experimenting with a quasi-random system that focuses on money management, with results that were looking quite good until yesterday. For no apparent reason, I started getting chewed up… then I saw people were talking about the CPI, and the stock market was plunging. Ah, well. I guess that’s what practice accounts are for. Interesting system here… I’ll be checking back in.

    Reply
  32. matthewperry33

    In the EXITS paragraph it reads “Generally 50 and 00 levels will be your targets.”
    Are the numbers correct and what does that refer to?

    Reply
  33. matthewperry33

    In the EXITS paragraph it reads “Generally 50 and 00 levels will be your targets.”
    Are the numbers correct and what does that refer to?

    Reply
  34. matthewperry33

    You mention that you enter a market order at the close of the candle. On the 15 minute chart, do you enter just before the candle closes, or as soon as the chart moves on to the next working candle?

    Reply
  35. matthewperry33

    You mention that you enter a market order at the close of the candle. On the 15 minute chart, do you enter just before the candle closes, or as soon as the chart moves on to the next working candle?

    Reply
  36. em1942il

    Why the SL system is in so wide use? I think hedging gives more chance taking profit in both positions. It cost a litlle premium, but reach better psychology influence.
    Am i right?

    Reply
  37. em1942il

    Why the SL system is in so wide use? I think hedging gives more chance taking profit in both positions. It cost a litlle premium, but reach better psychology influence.
    Am i right?

    Reply
  38. tom0910at

    does anybody knows the script of the of the prorealtime.com charting software to set alerts and backtest it?

    thanks

    tom

    Reply
  39. tom0910at

    does anybody knows the script of the of the prorealtime.com charting software to set alerts and backtest it?

    thanks

    tom

    Reply
  40. leepaynesnake

    EMA=moving average exponential?

    can i set RSI=> 14?
    Stochastic=>15,3,3?
    (because i study FXCM course and they say those setting is less deception)

    what MACD exponential i should set?

    thanks

    Reply
  41. leepaynesnake

    EMA=moving average exponential?

    can i set RSI=> 14?
    Stochastic=>15,3,3?
    (because i study FXCM course and they say those setting is less deception)

    what MACD exponential i should set?

    thanks

    Reply
  42. leepaynesnake

    i wanna ask some question about clean break…i keep on figure out but fail…

    what if a candle break our target but pull back after?

    Example:(i long @2.0220 , limit @2.0250 , stop @2.0205 at sometime the candle reach 2.0264 and pull back to 2.0248 in just 15 minutes….

    if i close at 2.0250 but the candle make a clean break then i’ll miss out target no.2 (2.0300)

    if i wait until the candle close then only close my trade i’ll not earn the pips that i set?

    what’s the solution?

    Reply
  43. leepaynesnake

    i wanna ask some question about clean break…i keep on figure out but fail…

    what if a candle break our target but pull back after?

    Example:(i long @2.0220 , limit @2.0250 , stop @2.0205 at sometime the candle reach 2.0264 and pull back to 2.0248 in just 15 minutes….

    if i close at 2.0250 but the candle make a clean break then i’ll miss out target no.2 (2.0300)

    if i wait until the candle close then only close my trade i’ll not earn the pips that i set?

    what’s the solution?

    Reply
  44. Pip SurferPipSurfer

    Thats the beauty/downfall of trading. There is really no set rule on when to exit. Personally, I don’t put a limit on my trade, but rather watch it as it approaches my target. I usually like to wait until the end of the candle to see if it made a clean break of my target but if the candle is moving very rapidly sometimes I’ll go ahead and exit. Sometimes I can even grab a few more pips if I manage to exit when the candle reaches a high above my target.

    Reply
  45. Pip SurferPipSurfer

    Thats the beauty/downfall of trading. There is really no set rule on when to exit. Personally, I don’t put a limit on my trade, but rather watch it as it approaches my target. I usually like to wait until the end of the candle to see if it made a clean break of my target but if the candle is moving very rapidly sometimes I’ll go ahead and exit. Sometimes I can even grab a few more pips if I manage to exit when the candle reaches a high above my target.

    Reply
  46. Alvo

    I’d like to ask you about the main trend. In the 4h chart above the green box marks the zone of the uptrend. It might happen that in the 4h chart the 5 EMA is already closing on the 10 EMA line from above (stochastics going down already) but on the 15min chart a cross (upward) occurs with all of your conditions satisfied. Would you still take such a trade according to this system? It seems to me that on many occasions such a trade results more likely in loss.
    Thanks for your advice.

    Alvo

    Reply
  47. Alvo

    I’d like to ask you about the main trend. In the 4h chart above the green box marks the zone of the uptrend. It might happen that in the 4h chart the 5 EMA is already closing on the 10 EMA line from above (stochastics going down already) but on the 15min chart a cross (upward) occurs with all of your conditions satisfied. Would you still take such a trade according to this system? It seems to me that on many occasions such a trade results more likely in loss.
    Thanks for your advice.

    Alvo

    Reply
  48. foodaba

    Just a suggestion,,, if the trade really looks good don’t let a

    wide stop keep you out…. just adjust your currency size

    to fit your money management… 100 pips at $1.00 a pip is

    better than no pips at $10 a pip….

    Reply
  49. foodaba

    Just a suggestion,,, if the trade really looks good don’t let a

    wide stop keep you out…. just adjust your currency size

    to fit your money management… 100 pips at $1.00 a pip is

    better than no pips at $10 a pip….

    Reply
  50. Mad

    This is a great site. I have done stocks and want to start trading currency and so far this is the best place I have found on the internet. Thanks a lot for all the good info :)

    Reply
  51. Mad

    This is a great site. I have done stocks and want to start trading currency and so far this is the best place I have found on the internet. Thanks a lot for all the good info :)

    Reply
  52. Pipslinger

    My MACD looks different than yours and I was wondering what parameter values you use. I am using the default on my software (StrategyBuilderFX) which is Fast EMA: 12, Slow EMA: 26, and MACD SMA: 9. If you are using the same parameters, why would my chart look different?

    Reply
  53. Pipslinger

    My MACD looks different than yours and I was wondering what parameter values you use. I am using the default on my software (StrategyBuilderFX) which is Fast EMA: 12, Slow EMA: 26, and MACD SMA: 9. If you are using the same parameters, why would my chart look different?

    Reply
  54. kevmey030606

    I am attempting to visit the forum post that shows how to have an Xtick signal sent to your cell phone. Every time I click it, though, it takes me to the forums main page. No matter how hard I try to find it I am never able to, so if someone could send me in the right direction I would greatly appreciate it.

    Reply
  55. kevmey030606

    I am attempting to visit the forum post that shows how to have an Xtick signal sent to your cell phone. Every time I click it, though, it takes me to the forums main page. No matter how hard I try to find it I am never able to, so if someone could send me in the right direction I would greatly appreciate it.

    Reply
  56. hypnos63

    hi its hypnos63 new member. looking at GBP/USD 12/20/2007 1659 EST, the 4 hr chart is in a downtrend, but the 15 min chart says go long according to every indicator you’ve given us. the problem is elsewhere you state that if the 4hr chart maintrend is down, we should short the 15 minute chart, which contradicts the go long advice. please clarify.
    hypnos63@yahoo.com

    Reply
  57. hypnos63

    hi its hypnos63 new member. looking at GBP/USD 12/20/2007 1659 EST, the 4 hr chart is in a downtrend, but the 15 min chart says go long according to every indicator you’ve given us. the problem is elsewhere you state that if the 4hr chart maintrend is down, we should short the 15 minute chart, which contradicts the go long advice. please clarify.
    hypnos63@yahoo.com

    Reply
  58. aintnothin

    The downswing and then upswing in EUR/USD Friday 12/21/07 seems to not have been “catchable” using this analysis.

    Could this be attributed to news?

    BTW — Great stuff, and thank you for keeping it simple.

    Reply
  59. aintnothin

    The downswing and then upswing in EUR/USD Friday 12/21/07 seems to not have been “catchable” using this analysis.

    Could this be attributed to news?

    BTW — Great stuff, and thank you for keeping it simple.

    Reply
  60. jmoney

    I noticed that many of your readers can not imitate you MACD and I was having trouble with that myself. But then I saw you could apply the MACD to another indicator (on XTICK)changing the results. So I think your MACD is applied to either the RSI or Stochastic. Could you comment on that? Thanks again.

    Reply
  61. jmoney

    I noticed that many of your readers can not imitate you MACD and I was having trouble with that myself. But then I saw you could apply the MACD to another indicator (on XTICK)changing the results. So I think your MACD is applied to either the RSI or Stochastic. Could you comment on that? Thanks again.

    Reply
  62. jomni

    Thanks for the simple system. I used this for the first time today and earned 17 pips despite late entry. Though I also missed about 2 good opportunities.

    Reply
  63. jomni

    Thanks for the simple system. I used this for the first time today and earned 17 pips despite late entry. Though I also missed about 2 good opportunities.

    Reply
  64. starider@teamef.net

    ih ih
    i been watching your trades and i would like to know if you do this for a living or justed on the side?
    ive gone throught 1500.00 i win some put in the end i lose.
    im going to try your trades and see what happens;
    do you sit and watch the trades all day,if so from what time to when?
    thank you

    Reply
  65. starider@teamef.net

    ih ih
    i been watching your trades and i would like to know if you do this for a living or justed on the side?
    ive gone throught 1500.00 i win some put in the end i lose.
    im going to try your trades and see what happens;
    do you sit and watch the trades all day,if so from what time to when?
    thank you

    Reply
  66. kevmey030606

    If you have any questions, this is probably not the best place to post them if you want them answered.

    I’m still waiting on an answer to a question from mid December.

    Reply
  67. kevmey030606

    If you have any questions, this is probably not the best place to post them if you want them answered.

    I’m still waiting on an answer to a question from mid December.

    Reply
  68. RAPTOR5910

    BIG PIPPIN, THE TRADING SOFTWARE THAT I’M USING ALLOWS ME A CHOISE OF TWO RSI’S WHICH ONE DO YOU SUGGEST WORKS BEST WITH THE COWABONGA SYSTEM EMA, OR SMA.

    THANKS
    RAPTOR5910

    Reply
  69. RAPTOR5910

    BIG PIPPIN, THE TRADING SOFTWARE THAT I’M USING ALLOWS ME A CHOISE OF TWO RSI’S WHICH ONE DO YOU SUGGEST WORKS BEST WITH THE COWABONGA SYSTEM EMA, OR SMA.

    THANKS
    RAPTOR5910

    Reply
  70. topcat275

    Hi,
    When waiting for the 5 to cross the 10 on a 4 hr chart, after the cross is it ok to take the trade or must I wait for the candle to close ? Thanks Rich

    Reply
  71. topcat275

    Hi,
    When waiting for the 5 to cross the 10 on a 4 hr chart, after the cross is it ok to take the trade or must I wait for the candle to close ? Thanks Rich

    Reply
  72. cardocardo

    Hi

    Is there a MetaTrader 4 expert advisor available for this CowaBunga System? If so, how can it be acquired?

    Thanks

    Reply
  73. cardocardo

    Hi

    Is there a MetaTrader 4 expert advisor available for this CowaBunga System? If so, how can it be acquired?

    Thanks

    Reply
  74. ncmo

    em1942il I am interested in your comment that why use SL. Instead you could use hedging as you suggested. But how do you exit with profit if you become “hedged”? Please share your thoughts. I use stop and reverse method just to recover any loss hwen the trade goes in the opposite direction instead.

    Reply
  75. ncmo

    em1942il I am interested in your comment that why use SL. Instead you could use hedging as you suggested. But how do you exit with profit if you become “hedged”? Please share your thoughts. I use stop and reverse method just to recover any loss hwen the trade goes in the opposite direction instead.

    Reply
  76. 4xit&4getit

    Thanks for sharing your system. Its very noble of you to do this, you must have a kind heart.
    I am demoing on Oanda I do not have a 4hr. chart so I use the 3hr.
    Trading has become my bread and butter for the rest of my life, so I have to learn it to stay alive. Thats a little dramatic but I am learning it for my income.
    In 1998 I became sick, lost my job and home and was forced onto disability. Its nice to be in America that we have all these benefits we have paid for through our taxes so when hard times come we have something. I have always worked ever since I was 15. I was in the prime of my career, saving my 401k when I was struck with a rare illness.
    Since that time I have spent a lot of my 401k money on scams and trash that promised all kinds of income working at home. NONE OF THEM WORK! I found Forex a year a go. I went through Babypips and I went through it again last week. I have read and tried everything I have found on the internet and at book stores and the library.
    I feel more confident now thenI did a year ago but not enough to start live trading, I refuse to give those brokers my hard earned cash.I will continue to study until I have at least a 60% winning streak over a few months or so. I have come to like break outs and using support and resistants. I also like your system and thanks again for sharing. When we share some times we feel unappreciated by those who feed like sharks on us with no thanks, but I hope you never get dissuaded because you have made a difference in my life and I need all the help I can get to come to the point of trading for a living so my poor loving wife can stay at home like she deserves and not have to work like a slave ever sense I became sick, it breaks my heart to see her have to work so hard and it makes me hate my life. But I honestly feel forex will change my life, I am committed to it and i will be successful. Any tips or guidance will be appreciated. blackberrygrowers@hotmail.com

    Reply
  77. 4xit&4getit

    Thanks for sharing your system. Its very noble of you to do this, you must have a kind heart.
    I am demoing on Oanda I do not have a 4hr. chart so I use the 3hr.
    Trading has become my bread and butter for the rest of my life, so I have to learn it to stay alive. Thats a little dramatic but I am learning it for my income.
    In 1998 I became sick, lost my job and home and was forced onto disability. Its nice to be in America that we have all these benefits we have paid for through our taxes so when hard times come we have something. I have always worked ever since I was 15. I was in the prime of my career, saving my 401k when I was struck with a rare illness.
    Since that time I have spent a lot of my 401k money on scams and trash that promised all kinds of income working at home. NONE OF THEM WORK! I found Forex a year a go. I went through Babypips and I went through it again last week. I have read and tried everything I have found on the internet and at book stores and the library.
    I feel more confident now thenI did a year ago but not enough to start live trading, I refuse to give those brokers my hard earned cash.I will continue to study until I have at least a 60% winning streak over a few months or so. I have come to like break outs and using support and resistants. I also like your system and thanks again for sharing. When we share some times we feel unappreciated by those who feed like sharks on us with no thanks, but I hope you never get dissuaded because you have made a difference in my life and I need all the help I can get to come to the point of trading for a living so my poor loving wife can stay at home like she deserves and not have to work like a slave ever sense I became sick, it breaks my heart to see her have to work so hard and it makes me hate my life. But I honestly feel forex will change my life, I am committed to it and i will be successful. Any tips or guidance will be appreciated. blackberrygrowers@hotmail.com

    Reply
  78. wilfoj

    Can someone tell me if the fxcm practice account can be renewed contunually after it expires every 30 days or if not are there any practice accounts out there that don’t expire that have timeframes greater than daily as this is the maximum I can get out of oanda.

    Thanks in advance

    Reply
  79. wilfoj

    Can someone tell me if the fxcm practice account can be renewed contunually after it expires every 30 days or if not are there any practice accounts out there that don’t expire that have timeframes greater than daily as this is the maximum I can get out of oanda.

    Thanks in advance

    Reply
  80. orebiyioo

    I need to first commend your effort.Infact 70% of whatever I know in forex is from babypips.Being a nigerian and residing in nigeria,my problem is multifaceted;from cash shortage,finding the right ISP,{I only make do with a dial up for now}.powersupply problems, being rejected by acclaimed brokers eg GFT,FXCM and so on.Even my mastercard is not acceptable.Infact Irealy need help in these areas.But i appreciate you,cowabunga is one nice system.THE JOY OF THE LORD SHALL CONTINUE TO BE YOUR STRENGTH.AMEN.oluorebis@yahoo.com

    Reply
  81. orebiyioo

    I need to first commend your effort.Infact 70% of whatever I know in forex is from babypips.Being a nigerian and residing in nigeria,my problem is multifaceted;from cash shortage,finding the right ISP,{I only make do with a dial up for now}.powersupply problems, being rejected by acclaimed brokers eg GFT,FXCM and so on.Even my mastercard is not acceptable.Infact Irealy need help in these areas.But i appreciate you,cowabunga is one nice system.THE JOY OF THE LORD SHALL CONTINUE TO BE YOUR STRENGTH.AMEN.oluorebis@yahoo.com

    Reply
  82. mssaidin

    I made a good profit for 3 weeks but it just wiped out within 1 day. It happenned twice already. I’ll apply your CowaBunga System and it seem good system to try. From my two losses, I believe ‘money management’ is very important.

    Reply
  83. mssaidin

    I made a good profit for 3 weeks but it just wiped out within 1 day. It happenned twice already. I’ll apply your CowaBunga System and it seem good system to try. From my two losses, I believe ‘money management’ is very important.

    Reply
  84. sergiof2

    Thanks a lot, i have been studyng your blog and i h´been profitable on demo for four months, 14.22% per month.
    thanks
    sergio

    Reply
  85. sergiof2

    Thanks a lot, i have been studyng your blog and i h´been profitable on demo for four months, 14.22% per month.
    thanks
    sergio

    Reply
  86. Daniel-San

    Thank you so much for this website!
    It has been (and it’s still being) a great help.

    I have read all your strategies and haven’t found anything about trailing stops, what do you think about it?
    Don’t you think it could be interesting way to maximize the benefit without taking to much risks?

    Sorry if the answer has already been given (or the question already asked). ;)

    Reply
  87. Daniel-San

    Thank you so much for this website!
    It has been (and it’s still being) a great help.

    I have read all your strategies and haven’t found anything about trailing stops, what do you think about it?
    Don’t you think it could be interesting way to maximize the benefit without taking to much risks?

    Sorry if the answer has already been given (or the question already asked). ;)

    Reply
  88. UberPip

    I appreciate the detailed yet straightforward explanation of your trading system and indicators.

    As a complete noobie, relying on the indicators after comparing chart time frames for the general trend helps to take a lot of the guesswork out of appropriate entries.

    Once the criteria for an entry has been met, do you have a specific recommendation for entering via market order versus limit order?

    In other words, all things being equal, if I enter via market order am I giving up too many pips towards what could be my gains?

    Reply
  89. UberPip

    I appreciate the detailed yet straightforward explanation of your trading system and indicators.

    As a complete noobie, relying on the indicators after comparing chart time frames for the general trend helps to take a lot of the guesswork out of appropriate entries.

    Once the criteria for an entry has been met, do you have a specific recommendation for entering via market order versus limit order?

    In other words, all things being equal, if I enter via market order am I giving up too many pips towards what could be my gains?

    Reply
  90. ForexKerry

    I have used a system similar to this for a while but refining my numbers to match this system has really helped. I work full time approx 12 hours per day; and trade while I am working.. Using this system I pulled +112 pips last week.. I have always believed in the KISS system of doing things.. I appreciate your time and efforts in sharing this system. Forexkerry@gmail.com

    Reply
  91. ForexKerry

    I have used a system similar to this for a while but refining my numbers to match this system has really helped. I work full time approx 12 hours per day; and trade while I am working.. Using this system I pulled +112 pips last week.. I have always believed in the KISS system of doing things.. I appreciate your time and efforts in sharing this system. Forexkerry@gmail.com

    Reply
  92. OtunbaMike

    I must commend your rigorious efforts you have put together.It had revived still reviving the urgly approach many of us have towards forex.It is highly appreciated.God will reward you bountifully.

    Reply
  93. OtunbaMike

    I must commend your rigorious efforts you have put together.It had revived still reviving the urgly approach many of us have towards forex.It is highly appreciated.God will reward you bountifully.

    Reply
  94. mchawe

    Now I am a bit puzzled by stochastics. You say 10,3,3.
    What are those settings representing ? Like 10=?,3=? and 3=?
    I use netdania which has 4 studies, namely
    Stochastics Full
    stoch Fast
    Stoch Slow
    Stoch RSI
    I apologise if you have been asked this one numerous times, bbut I have looked around to try to find the answer only can’t find it !

    Reply
  95. mchawe

    Now I am a bit puzzled by stochastics. You say 10,3,3.
    What are those settings representing ? Like 10=?,3=? and 3=?
    I use netdania which has 4 studies, namely
    Stochastics Full
    stoch Fast
    Stoch Slow
    Stoch RSI
    I apologise if you have been asked this one numerous times, bbut I have looked around to try to find the answer only can’t find it !

    Reply
  96. adsanders

    I was trying to figure out why my MetaTrader MACD didn’t match up with your MACD and so someone mentioned to try the MetaTrader OsMA indicator instead. An it does! It has the same settings 12,26,9. Anyway I just thought I would let everyone else know about it. It has probably been mentioned before somewhere and if so I apologize.

    Reply
  97. adsanders

    I was trying to figure out why my MetaTrader MACD didn’t match up with your MACD and so someone mentioned to try the MetaTrader OsMA indicator instead. An it does! It has the same settings 12,26,9. Anyway I just thought I would let everyone else know about it. It has probably been mentioned before somewhere and if so I apologize.

    Reply
  98. BPUser

    Where does one find and how does one download the MT4 Cowabunga indicator?

    Thanks in advance,

    BPUser

    Reply
  99. BPUser

    Where does one find and how does one download the MT4 Cowabunga indicator?

    Thanks in advance,

    BPUser

    Reply
  100. fm0530

    I’m using Marketscope 2.0 chart…how can I separate the RSI from Stochastics like what you have above?

    Reply
  101. fm0530

    I’m using Marketscope 2.0 chart…how can I separate the RSI from Stochastics like what you have above?

    Reply
  102. TREX

    Hello, i have a few questions regarding pip my system if you dont mind awnsering.
    1. i have established as of 8/19/09 that the trend is going down, as far as settingthe ema’s for 5 & 10 you are saying to apply it to the close, exactly what are you reffering to when you say appling to the close? Also regarding ema i am currently using accu charts and it has many differnt categories for moving averages, 2 for exponential one of them says ohlc after it which i dont understand.Is there a difference between the 2 for this systems purposes?
    Accu charts also has 2 parameters that say period & shift & next to each it says value ( i hop[e you know what i am reffering to)Do i change both of them to 5 and also when i set the 10 do i also set both to 10?
    2. On the rsi also using accu charts you are saying the setting should be 9, when i try to set up the rsi it again gives me more than one option it says period, upper level & lower level and after each it says value, do i change all 3 to 9?
    Thank you very much for your time in awnsering these questions.

    Reply
  103. TREX

    Hello, i have a few questions regarding pip my system if you dont mind awnsering.
    1. i have established as of 8/19/09 that the trend is going down, as far as settingthe ema’s for 5 & 10 you are saying to apply it to the close, exactly what are you reffering to when you say appling to the close? Also regarding ema i am currently using accu charts and it has many differnt categories for moving averages, 2 for exponential one of them says ohlc after it which i dont understand.Is there a difference between the 2 for this systems purposes?
    Accu charts also has 2 parameters that say period & shift & next to each it says value ( i hop[e you know what i am reffering to)Do i change both of them to 5 and also when i set the 10 do i also set both to 10?
    2. On the rsi also using accu charts you are saying the setting should be 9, when i try to set up the rsi it again gives me more than one option it says period, upper level & lower level and after each it says value, do i change all 3 to 9?
    Thank you very much for your time in awnsering these questions.

    Reply
  104. flyboy909

    I’d like to download the mt4 Cowabunga indicator but the zip files I download from babypips now are not valid archives.

    Reply
  105. flyboy909

    I’d like to download the mt4 Cowabunga indicator but the zip files I download from babypips now are not valid archives.

    Reply
  106. willemgerber

    Hi
    I am also a beginner in IFOREX. My home language is not english so i find it sometimes difficult to understand the terminology. I have a friend that assist me via e mail. When do i decide to buy or cell currencies esepcially US$
    If the US$ is strong do i normally buy other currencies and if it becomes weaker against other currencies do i then cell other currencies e.g EURO/AUS/NZ etc. Please assist
    Thanks
    Thomas

    Reply
  107. willemgerber

    Hi
    I am also a beginner in IFOREX. My home language is not english so i find it sometimes difficult to understand the terminology. I have a friend that assist me via e mail. When do i decide to buy or cell currencies esepcially US$
    If the US$ is strong do i normally buy other currencies and if it becomes weaker against other currencies do i then cell other currencies e.g EURO/AUS/NZ etc. Please assist
    Thanks
    Thomas

    Reply
  108. bailbondearl

    On setting up your charts–you say to use the RSI(9)simple
    well in my Indicators to choose from mine are listed as
    RSIWilder–RSIWilderlegacy–RSI_EMA–I set mine at RSI_EMA hope that was right–my other question is–if say the trend is down or up–and the two upper EMA’s are traveling along side by side for quite a while–it seems you have to wait a long time some times before they cross one way or the other. And you loose out on alot of pips in the length of time. (Dont make the trade right?) wait for the cross–always wait for the cross??. And as far as the two systems or One—I have been using the system that is Intraday 15min—I should be using the 4 hour 15 min chart system instead???
    Thank you: PipPipChereo

    Reply
  109. bailbondearl

    On setting up your charts–you say to use the RSI(9)simple
    well in my Indicators to choose from mine are listed as
    RSIWilder–RSIWilderlegacy–RSI_EMA–I set mine at RSI_EMA hope that was right–my other question is–if say the trend is down or up–and the two upper EMA’s are traveling along side by side for quite a while–it seems you have to wait a long time some times before they cross one way or the other. And you loose out on alot of pips in the length of time. (Dont make the trade right?) wait for the cross–always wait for the cross??. And as far as the two systems or One—I have been using the system that is Intraday 15min—I should be using the 4 hour 15 min chart system instead???
    Thank you: PipPipChereo

    Reply
  110. pipomilion

    This is an incredible system. I have been trying it out for a week and its been paying according to the lot sizes on my demo account. Can it be this consistent on a live account? I just downloaded the indicator software to assist but i do not still know how to use it due to its EST timing calculations.

    Reply
  111. pipomilion

    This is an incredible system. I have been trying it out for a week and its been paying according to the lot sizes on my demo account. Can it be this consistent on a live account? I just downloaded the indicator software to assist but i do not still know how to use it due to its EST timing calculations.

    Reply
  112. worshipu

    I have a question concerning your target price and order type. I under stand that the target price is at a 100 or 50 level or equal to what is risked. You mention that when a candle closes beyond a target price that you keep the trade open and move the Stop Loss to the original target price. What type of order do you use for this? Or do you not place a target price order and just watch this manually? Options I’ve tried: 1) I place an order to take profit at target price and if price closes beyond TP I open a new trade. This puts part of the original trades profits at risk. 2) I place a Trailing stop to kick in 10 pip beyond original TP. This doesn’t lock in the profits from the original TP if the trigger is not hit. 3) I manually watch for my TP to be exceeded or met. This once again leave the option that I close too late. I’m just curious what order process you take. I’m aware brokers can handle this differently. Thanks!

    Reply
  113. worshipu

    I have a question concerning your target price and order type. I under stand that the target price is at a 100 or 50 level or equal to what is risked. You mention that when a candle closes beyond a target price that you keep the trade open and move the Stop Loss to the original target price. What type of order do you use for this? Or do you not place a target price order and just watch this manually? Options I’ve tried: 1) I place an order to take profit at target price and if price closes beyond TP I open a new trade. This puts part of the original trades profits at risk. 2) I place a Trailing stop to kick in 10 pip beyond original TP. This doesn’t lock in the profits from the original TP if the trigger is not hit. 3) I manually watch for my TP to be exceeded or met. This once again leave the option that I close too late. I’m just curious what order process you take. I’m aware brokers can handle this differently. Thanks!

    Reply
  114. Namibia

    Hallo I am a new member here on babypips.I have just come across your system and I am so amazed the many similarities of our trading systems. I take most of my trades in the 5 minute chart with EMA’ 3 and 15. I Also use full stochs at the following settings at (5, 3, 3) alongside the awesome oscillator with the settings 3,4 instead of the MACD. I would like to ask you something in regards to the RSI. When you are cosidering entering, do you expect the RSI to do a fresh cross to above or below the 50 line every time even the other signals are in line? Hope you understand the question???

    Reply
  115. Namibia

    Hallo I am a new member here on babypips.I have just come across your system and I am so amazed the many similarities of our trading systems. I take most of my trades in the 5 minute chart with EMA’ 3 and 15. I Also use full stochs at the following settings at (5, 3, 3) alongside the awesome oscillator with the settings 3,4 instead of the MACD. I would like to ask you something in regards to the RSI. When you are cosidering entering, do you expect the RSI to do a fresh cross to above or below the 50 line every time even the other signals are in line? Hope you understand the question???

    Reply
  116. buldog

    Cowabunga system is allsimply waaaaaaaaaaaaaa.This is a great system but before that this is the guys who find it.
    You have a big hearth to sharing and explain your system who can change the live for many people.
    With Cowabunga system,don’t worry for the furthur.

    L.S

    Reply
  117. buldog

    Cowabunga system is allsimply waaaaaaaaaaaaaa.This is a great system but before that this is the guys who find it.
    You have a big hearth to sharing and explain your system who can change the live for many people.
    With Cowabunga system,don’t worry for the furthur.

    L.S

    Reply
  118. lallous

    A very interesting strategy indeed and to be sharing it with us newcomers is already an outstanding deed.
    Keep up the awesome work,

    Reply
  119. lallous

    A very interesting strategy indeed and to be sharing it with us newcomers is already an outstanding deed.
    Keep up the awesome work,

    Reply
  120. Junaid

    I just finished reading it,but from my little experience and reading ,i can say you meant well for us.Please do not fail to tell us anytime you discover any adjustment or upgrade to it.

    Thanks,
    Junaid

    Reply
  121. Junaid

    I just finished reading it,but from my little experience and reading ,i can say you meant well for us.Please do not fail to tell us anytime you discover any adjustment or upgrade to it.

    Thanks,
    Junaid

    Reply
  122. dandyemmas

    would like to know where to get the system. am a new member just join today and have not trade fx before.

    Reply
  123. dandyemmas

    would like to know where to get the system. am a new member just join today and have not trade fx before.

    Reply
  124. adebaba7

    Brillant! This system sounds simple and simply defined. I will try it and feed you back in due course! Keep on keeping on.

    Reply
  125. adebaba7

    Brillant! This system sounds simple and simply defined. I will try it and feed you back in due course! Keep on keeping on.

    Reply
  126. Koulsurfadude

    I am so glad you have taken the time to write this system in addition to the 11th grade system. I will try this out and let you know. BTW I am new to forex, strictly on demo until I have learnt enough to go live. If it were not for this website I would be paying huge amounts of money to get the information placed on this website for free. Thanks for giving.

    Reply
  127. Koulsurfadude

    I am so glad you have taken the time to write this system in addition to the 11th grade system. I will try this out and let you know. BTW I am new to forex, strictly on demo until I have learnt enough to go live. If it were not for this website I would be paying huge amounts of money to get the information placed on this website for free. Thanks for giving.

    Reply
  128. jskizzle

    So I know you say not to enter a trade if the RSI or stochastic is already in overbought/sold territory on the 15 minute chart but what about if it is the 4 hour chart wen looking for the trend? Should I wait until the trend changes? Also, do you think it would be ok to look for the trend on a 3 hour cart? I only as because I use Oanda since I’m on a Mac and their timeframes don’t include 4 hour. It goes straight from 3 hour to daily. Thanks for the help. Love the system!

    Reply
  129. jskizzle

    So I know you say not to enter a trade if the RSI or stochastic is already in overbought/sold territory on the 15 minute chart but what about if it is the 4 hour chart wen looking for the trend? Should I wait until the trend changes? Also, do you think it would be ok to look for the trend on a 3 hour cart? I only as because I use Oanda since I’m on a Mac and their timeframes don’t include 4 hour. It goes straight from 3 hour to daily. Thanks for the help. Love the system!

    Reply
  130. TarGil

    can you post some stats for this system,
    percent profitable, RRR , net profit… etc.
    how many trades over the last 3 years, what is the best pair for trading the system , and what is the best time frame?

    Reply
  131. TarGil

    can you post some stats for this system,
    percent profitable, RRR , net profit… etc.
    how many trades over the last 3 years, what is the best pair for trading the system , and what is the best time frame?

    Reply
  132. gimmie3pips

    I’m pretty new to Forex but I’ve been swing trading stocks off and on for awhile. I found the jump into FX a little more difficult than I expected and needed some reliable signals for entry and exits.

    I’ve been using this system as a general guide for my short term trades and so far i’ve gone from -100pips to +75 pips over the past few days. It’s nice to finally start seeing small profits for the day, so it’s working well for me so far, thanks

    Reply
  133. gimmie3pips

    I’m pretty new to Forex but I’ve been swing trading stocks off and on for awhile. I found the jump into FX a little more difficult than I expected and needed some reliable signals for entry and exits.

    I’ve been using this system as a general guide for my short term trades and so far i’ve gone from -100pips to +75 pips over the past few days. It’s nice to finally start seeing small profits for the day, so it’s working well for me so far, thanks

    Reply
  134. Johnny Cool

    This is much too complicated for me. Indicators are all lagging. I prefer using price to trade. Much less complicated. If anyone on here use price they can give me a shout.

    Reply
  135. Kamo

    Hello,

    I am relatively new to forex. I’ve been demo trading for almost 6 months. Ever since, I have been trying to figure out a system and stick to it but have failed.

    So I was thinking of giving this system a try, however, I would appreciate it if you can tell me the results of the system so far, such as percentage of winners to losers.

    Thank you.

    Cheers!

    Reply
  136. John

    High Performance Oscillator (aka HPO) is a development of the Stochastic Oscillator (8,3,3) and is highly effective for detecting momentum changes (as well as overbought/oversold). However it seems to not be available on the internet.
    Anybody know any different?

    Reply
  137. olaoye

    if on 4hrs chart you can’t identify any trend but on 15mins chart is a trend,can this strategy be use for it ?cos some just happen recently on GBP.pls i need your reply.

    Reply
  138. Pingback: Cowabunga System Daily Update: Thursday, 02/06/2014 | Forex Trading Brokers

  139. tom23

    2014/22/2
    i have a big problem cloud you guys help me to find out a right decision
    * i have already opened GBP/USD buy tread at “1.6641″ it going lost now i thought 1.6641 will be up because i saw pretty support line unfortunately bear candle not turn back that case i have lost 24-26 pips still i am not cancel my order . now i want to know market try to going long down or market will be turn up soon again then i can take my profit ?? . so plz know me about this matter .. tell me what i want to do now still i am going my order continue so is it bad idea or not ? tell me when the market turn up .. or is it try to go long down (GBP/USD) ?

    Reply
  140. Dudusamurai

    If you use the 4HR chart to establish a trend and the 15 minute chart to enter trades, how often do you check the charts – every 4 hours or every 15 minutes? Thank you for your blog

    This question is also open to others. Thank you for expected responses

    Reply

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