The Cowabunga System

[jborgesnm]

Originally Posted by campoli39

This is what the cowabunga system says are
"Exits

....Generally 50 and 00 levels will be your targets. You can also use any kind of support or resistance level as a target or you can just go for the amount of pips that you are risking. "

I don't know what is meant by 50 and 00 levels. Can someone please explain this to me. As much detail as possible please, as I really want to use this system.

Also how do i know what are the support and resistance. Do I have to manually calculate and draw the sup and res lines or does mt4 do it for me??

I am using metatrader4
thanks in advance

campoli39

00 and 50 refers to the price. Look at the price of (for example) the USDJPY. You will see a price of 116.50 and 117.00

Hope this helps

[campoli39]

It seemed too simple to be right so I figured I was missing something.
Thanks for the clarification...

[gambler180]

http://www.babypips.com/forums/free-...ga-system.html

[craigfx]

Originally Posted by ybop01

I've rewritten the MT4 indicator so it should be a lot easier to use. The 4 hour trend is indicated on the 15 minute chart and the triggers now appear as arrows. You can configure it to send you and email when a valid trigger occurs but I'm not sure how useful that will be due to the inevitable delay in getting the email.

Strongly urge to display all indicators on chart and check validity of my indicator signal. Not guaranteed to be bug free but let me know if you find anything amiss.

Sweet MT4 indicator thanks for the hard work!!!!!

[alexmasternyc]

Hello, FX traders i'm wondering what are the 2006 (or even 2005, 2004 ... if this system goes as far back) track records of this Cowabunga System; i can only see the track record for the 2007 (so far) which is pretty impressive. If anyone might provide me with this info. or direct link i would appreciate it. Thank you and lets grab these pips.

[dirk30]

Does anyone know how i would go about setting up this indicator to give me an audio alert? i know you can set it up to send the emails and stuff, but i am usually within ear's distance of my laptop and would like it to give me an alert via through my speakers.

[dcpeter3]

I've attached my GBP/USD chart for today. Note that MACD is quite different from yours at 7:45 am.

[pinetree]

Hi, didi anyone notice the crossover this morning at 5:45am (tues march 20th) --on the 15 min chart. Entry at 1.9525 -- however macd histogram was slighty positive. The stop should have been set at 1.9434 --which was a 91 pip risk -- exit at 1.9616. However the market hit 1.9609 only at 9:15 am.

This would still have been a good profit trade -- but it was not within the range of the cow bunga system -- making it invalid. The 91 pip risk was also quite high.

Anyone agree with my analaysis. Cheers.

[dirk30]

I am using the Cowabunga indicator, the one that paints the arrows on the screen when a signal occurs and I will have to say, it is pretty accurate. It will sometimes make a call a little premature, but if you hold on your trade, it does go that way. I did some back testing with it and i think it is pretty good. I am playing with a demo account and I had lost over $2700 before I went to pip school, just trying to guess my trades, but since I started trading this system, i have actually gone in the positive side on my profits. I will keep it going for another few weeks and then will try to open a real account. Will be my first one!

[trumpetguy]

I am new to this Forex trading but I like the liquidity. Trading the K system on 15 minute charts may work for some but I seem to get chopped up too many times. Dues the Big P have a longer term system he might want to share?