The Cowabunga System

[ChowClown]

Originally Posted by tonymand

Interesting Cowclown and Cabletrader with the use of other pairs. Are you still using the 4H for general direction only

Hi tonymand, i mainly use the 4hr MA's for trade direction and rely less on the 4hr stoch/RSI as a filter, although I will play with less on the table if the 4hr stoch/RSI suggests exhaustion on that TF.

[cabletrader]

Hi ChowClown,
Yes, for general trend. Reason for shorting $/y was break of low today and low of 21st. Break of S1, Macd,RSI,Stochs all giving good pointers. Went short @ 114.54 with a break even stop now in place (hurrah!). 1st target 114.25.

[ChowClown]

Originally Posted by cabletrader

Hi ChowClown,
Yes, for general trend. Reason for shorting $/y was break of low today and low of 21st. Break of S1, Macd,RSI,Stochs all giving good pointers. Went short @ 114.54 with a break even stop now in place (hurrah!). 1st target 114.25.

Nice low risker - hope you'll stick around....i enjoyed posts from a cabletrader elsewhere, you're not aka Buk by any chance??

[cabletrader]

Not me, I'm afraid!

PS Target hit.

[cabletrader]

I am looking at a long trade on Eur/Usd @ 1.4110. Tight stop. I am mindful however of news announcements.

(I have Multiple Trading Personality Disorder today! Actually, I am off sick.....altogether now....aaaaahh!)

[ChowClown]

...my earlier cable short nearly at SL...

edit: will exit at 13:55 regardless. Won't risk the potential slippage at the 14:00 (UK time) news.

[ChowClown]

...stopped out on cable for -45 and with the 37.7 on GBP/JYP earlier, minus 7.3 pips on the day.....next!

[ChowClown]

Cable loss notes to self

Although Cowabunga per se doesn't use Oscillator divergence, cabletrader's earlier post made me think - i should be making the method my own and adapting it more in line with my risk profile.

The MACD divergence cabletrader mentioned is highlighted in the pic below along with a couple of other basic notes. The trendline break area (on the pic) is probably a more reasonable stoploss area.

[tonymand]

Originally Posted by ChowClown

Cable loss notes to self

Although Cowabunga per se doesn't use Oscillator divergence, cabletrader's earlier post made me think - i should be making the method my own and adapting it more in line with my risk profile.

The MACD divergence cabletrader mentioned is highlighted in the pic below along with a couple of other basic notes. The trendline break area (on the pic) is probably a more reasonable stoploss area.

Well if you are going to take other things into account cable had already bounced off an area of significant support at 2.0080. Problem as always is the more things you take into account the more difficult the method.

[cabletrader]

[quote=cabletrader;23338]I am looking at a long trade on Eur/Usd @ 1.4110. Tight stop. I am mindful however of news announcements.

QUOTE]

Target 1.4153 having locked in some profit.