The Cowabunga System

[BigPippin]

Hello everyone,

I know many of you have been starting to follow the "Pip My System" blog and have many questions. I wanted to start this thread so that hopefully other traders might be able to help answer some of those questions. This can be a place for all of you to discuss any and everything about the system. If you are new and don't know what the heck I'm talking about you can check out my first post which explains the system in detail:

"What to do after you finish the School of Pipsology"

If you've been following the blog for a little while and have some questions, please visit the FAQ page before asking. You may find the answer your looking for:

Cowabunga FAQ

Remember, this is not a holy grail. The system has its flaws, but it does work pretty well. Also, this system is NOT for everyone. If this doesn't fit your trading style, then don't force yourself to trade it. You'll be miserable and it just won't be fun. I've tried doing that before and I hated it. The Cowabunga system is meant for educational purposes and is simply a way to show you that a simple system can be effective in the Forex market if you stick to your rules and stay diligent. Have fun with it, and maybe it will inspire you to come up with a system of your own.

Happy trading!

-BP

[jamdownpipette]

BigPippin,

I think this is an excellent idea. I just discovered baby pips a two weeks ago and completed the school at the end of last week. After having searched for forex education for over a month and hearing the cost of various packages I can't beleive the wealth I found sitting here free of cost. So many thanks to you and your crew for spending the time to put this together.

I started backtesting and since yesterday trading your system which I found very easy to understand. I'll be sure to update the site soon with some of my questions any results.

[pvctrades]

hi BigPippin, thanks for bringing something so simple yet effective to the community. I was wondering, do you trade the cowabunga system live with your real money? Another question, would you take a cross going against the H4 trend if the cross was effected by news to get in early on the trend?

[BigPippin]

Yes I trade with real money, and no I don't take a cross opposite the trend of the 4hr chart. That would essentially defeat the purpose of the main trend altogether

Happy trading

[nikim6]

Hey Bigpippin
Im loving the system. I know in the FAQ area you said you looked at other currency pairs and saw a few trades, so im wondering if lately you have tried the system on other currecny pairs other than the GBPUSD.
Do you think you could post the link to find out the performance of the system thus far?

Thank you

[BigPippin]

Originally Posted by nikim6

Hey Bigpippin
Im loving the system. I know in the FAQ area you said you looked at other currency pairs and saw a few trades, so im wondering if lately you have tried the system on other currecny pairs other than the GBPUSD.
Do you think you could post the link to find out the performance of the system thus far?

Thank you

I don't have a track record on other pairs because I haven't seen enough winning trades to warrant me taking the time to track it. There may be some tweaks that need to be made for it to work well on other pairs. I just haven't tried messing with it.

[pvctrades]

Originally Posted by BigPippin

Yes I trade with real money, and no I don't take a cross opposite the trend of the 4hr chart. That would essentially defeat the purpose of the main trend altogether

Happy trading

Thanks for the response back BigPippin.
Have a great trading day

[djlucas]

I have a quick question. For the Stochastics in the cowabunga system. I know it is set to 10,3,3 but do you use the Stochastics fast or the slow. Could someone let me know.

thanks,

[Mark Trader]

Guys,
I would like to clarify this and I don't believe it was discussed. How do you determine when to set the TP to the nearest 50 or 00 level and when to go for the amount of pips being risked?

For example, according to PipSurfer:
The entry was at the close of the candle at 1.9856 with a stop at the most recent swing high at 1.9905. Since I was only 6 pips away from the nearest 50 or 00 level (1.9850), I decided to go for the same amount of pips I was risking on the trade which in this case was 49. This put my initial target at 1.9807

So if it's as close as 6 pips, it should be the amount of pips being risked, not the 50 or 00 level... what about 10 pips? 12? 15?
I realize this may be done on a case by case basis, but what if, hypothetically, you were automating the cowabunga system and you needed an exact number, what criteria would you use?
Thanks,
Mark.

[ramrocket]

Originally Posted by BigPippin

The sexiest member of the FX-Men

How many pips do I need to make to have that kind of title in this forum?