The Cowabunga System

[MikeMcGlen]

Originally Posted by nitap

Can someone please educate me as to what cowabunga is. I'm a newbie and still learning every aspect of forex. Thank you.

I agree, please let us know what is cowabunga and how it works.
Thanks in advance.

[fxray]

Hi, I have been using a similar 15min strategy to your Cowabunga method for about the past 9 months prior to discovering Babypips.

The addition of using the stochastics and MacD as you recommend on a 15min chart has helped improve my winning pip rate a lot - thank you. I used to only follow a Daily trend and have now moved to 4 hour which sometimes provides an extra opportunity.

I also have a 50 simple moving average on the 15min chart and trade when I have the cross over of the 5 & 10ema through the 50sma. This does seem to help reduce getting caught by head fakes. I take the trade when a candle closes through the 50 and the next candle then retests the 50sma before continuing in the direction of the trend.

I hope this may help some traders

[ziki]

I am a newbie and new to this forum.

Please what is this trading system called cowabunga and where can I download it and use it to trade?

Please help me out.

[fxray]

Hi Ziki

As I understand it the cowabunga system is designed for new traders to try once they have been through the Babypip school. This is the link to the rules on how to trade with it..

So You've Finished The School Of Pipsology...Now What? - Pip My System - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

Hope this helps
FxRay

[wuzupeverybody]

wuzupeverybody

trying out this system

so far
so good

[tonymand]

Originally Posted by jarbuckle

Thanks, I realize there will be subtle differences bewteen platforms, but the differences are substantial. Looking at the 5/7/07 Cowabunga Daily update 15 min chart, the signal line does not represent a time period of 9, does it?

While the 15 minute chart on the Update is negative and fairly active, the MACD on my 15 minute chart is on the positive side and quite a bit less active. Am I missing something? Any help is greatly appreciated.

Its important to realise MT4 uses a 9 SMA (not EMA) as its default which is why your charts look different regarding the MACD Histogram. Not aware how this can be changed

[hlnchoo]

sounds logic, 2, 3 failure will wipe off our effort.

[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.

[Igy]

Hi, I've just unzipped cowabunga fles to folder "FX Trader 4\experts", and cowabunga showed on my expert advisor list, but nothing is happening on double click. Am I wrong? Can anyone tell me why?
Thank you

[tonymand]

So on MT4 it is in your custom indicator list. ie you go insert - indicator - custom - cowabunga?