The Cowabunga System

[Cowaboi]

Originally Posted by BillB

Forgive me if these questions have been answered.

1. I recently read on here that the main trend change (4H cross) is invalid if the stochastic, RSI and MACD are not in the correct condition when it occurs. At least, that was my interpretation.
Does this trend remain invalid as long as it lasts?

For example, there was an upward 4H cross of the MAs on Jan. 16. On my chart, the Stochastic appears flat and the MACD was positive before and after the cross.

This long "trend" remained in effect for two days.
Should those two days have all have been no trade days?

In other words, if the 4H cross is bogus, do we stand down until another trend change?

2. I have seen it written that no trades should be taken before Midnight, New York time.

I have not seen how late the latest trade should be taken.
I have been cutting it off at Noon New York time. Is this correct?

Thank you.


PS- I got stopped out on a long trade that occurred at 0700 GMT this morning. Was there a "system" reason to not have taken that trade?

Thanks again.

1/...in this instance no trades are taken in the direction of the MA cross (trend change signal), within the next 4 hours. If, at the end of this 4hr period, the MAs remain crossed then entries are made in that direction, as MA crosses (on the 4hr) are given precedence over the RSI/MACD/Stochastic indicators.

2/. PipSurfer suggests entering trades no later than 12 noon (EST).

PS - i'll let you work that one out

[sadesokan]

hi,
quite new to trading. been using ur setup on demo but lost a few virtual $. painful though not real. however my 4H period does not give corect timimg on the chat. i wonder if this is the reason behind the loss.
kindly update this blog often so we newbies cld stand up too.

[Cowaboi]

Does anyone happen to have cowabunga results since the last blog entry by PipSurfer? What was the pip tally for Jan and how has it been doing so far this month?

[Elroch]

Followers of the cowbunga system may be interested in a template for Ensign. It includes all the indicators and alerts that identify valid entries (except for checking agreement with the long term trend). The template is at http://charts.dacharts.com/2008-04-23/Cowbunga.dat

Valid entries are marked with red and green shading on the chart, and invalid ones by navy blue. The stochastic and RSI colour their subwindows to indicate support for long or shorts.

[LA1]

What should I do according cowabunga if shortly after I place my trade, some of the indicators change and no longer justify entering this trade?
Should I close it immediately or let it continue and stick to my SL+TP goals set in this trade?

[MoreYummy]

you should stick with the original goal.

[bkr1969]

As a newbie, I just started reading this thread and am having trouble with the MT4 indicator from the .zip file. I thought the 4 hr trend was supposed to show up on the 15 min chart, but it doesn't seem to be working. I didn't want to try and read through all the posts if someone had an answer or link to one. Thanks.

[MoreYummy]

what problem you have with the indicator?

[bkr1969]

The only thing I noticed was there was no 4 hr indicator nor the trend arrows that I thought were supposed to show. I do get alerts when the setup is there so I was just wondering about the rest.

[Shell25]

Well if there can only be one person in this forum that deserves to be named the sexiest member and at the same time seems to have some good advises and an effective trading system, you have to be a god around here. Just kidding. Now my actual question here is about the alarm system, that seems to be for day traders like me, one of the most important benefits anybody can get with cowabunga trading system Xtick, but what happens as ybop said if you don’t get to check the alarm on time?, Does it mean you are screwed?. I also want to ask about the difference between Xtick and MT4 in terms of trading. Have a good one!!!