[hlnchoo]

hi guys,

Cowabunga system is pretty much straight forward and easy to implement, but somehow not everyone can stay online whole day watching the screen.

hence, this thread is good for those traders who cant spend too much time in trading.

i personally use H4 to trade ( seldom switch to H1, or M15).

1) applied the entry strategy designed in cowabunga ( 5 EMA 10 EMA crosses, the slow stoc, the rsi...etc)

2) the stop loss should be the previous swing hi or low

3) most interesting .... the profit taking part... i had received a detail report regarding the maximum pips you might getting for each day. ( note it down, it helps a lot)

if you're trading on these days.... the maximum range will be

monday = 110 pips
tuesday = 121
wednesday = 115
thursday = 147
friday = 107

and of course, we don't expect to take 100% of the total possible pips for the day. ( you may take 70 - 80 % )

let's code a real example:

look at 29 / 08 / 2007 08:00 GMT, H4 chart. We saw the 5 EMA cross above 10 EMA and with all condition fulfill ( slow stoc heading up, RSI > 50) at market price 2.0069.

this is a valid long signal.

buy entry set at 2.0069, stop loss = 1.9959 (previous swing low)

total possible pip on wed = 115

we take 70% of it = 81 pips

so TP = 2.0069 + 0.0081 = 2.0150

if you really observe, then you'll notice actually you only spend about 4 hours to achieve your 81 pips.