QuoteāHow come you donāt update your trade record anymore?
I have updated my track record religiously for about 4 years now. Publicly, Iāve updated it for about a year and half. The reason I stopped updating it was because it became pointless. The purpose of it in the first place was just to show the efficiency of the system. I believe I have accomplished that and have had enough evidence to know that this system works! I encourage you to keep a track record for yourself to monitor your trading, but as for the Cowabunga System goes, the trade record will stop being updated.
Here are the links to the Cowabunga Track Record when I kept track of it:
2007
2008
For current track records, I am using MeetPips.com to log my trades. The site automatically keeps my track record for me. You can see my current track record here:
I donāt know how many hours have gone into maintaining this thread over the years. My gut feeling is that the years mentioned above 2007 and 2008 were indeed profitable as were every year after that. I doubt if a backtesting program could match an actual traderās decisions without being really well written. I would like to see more blogs managed as professionally as this has been. I think there are some good ideas out here though. I would also be very interested in hearing any mods that make this idea better or indeed any better systems.
The MACD in particular needs to match that of the author. Iām not sure the one on MT4 displays the same thing or if it can do it may not be a standard setting. This is something from which many of the trades are taken or declined. I think this system provides approximately 1 valid call per day as a ball park figure.
I will also update people on what else I am doing although admittedly this may not be the place to do it :). I also like Maryoā¦though his thread is a different style and the trade execution and management is not documented as it is here. I have also reviewed tons of signal providers and found 1 which I am happy to work with. Iām loathed to mention it here for fears of people saying that iām marketing when in fact Iām sharing the results of my research. Anyway forum watchers will know what Iām talking about. Among other signal providers I detected a common cheat in reporting performance. Basically one could toss a coin to determine buy or sell and show profitability based on this common reporting practice :). Thatās my research input, pls help me if you can ! And yes, Iām also working on being profitable from my own ideas and will share anything I come up with. (donāt expect anything soon lol).
Lexys, did you backtest this system manually, taking into consideration new releases?
I just finished backtesting it throughout May and June using tradingview.comās charting software and that took me bloody 4 hours, I canāt imagine how long would it take to backtest years worth of trades. And I wasnāt very picky about my exits, just used the close price of 15 minutes candles. The results are +60 pips (21 trades) in June, and about +300 pips (20 trades) in May. Spread not included. Of course 40 trades are too little to draw any real conclusions, but at least it gives me some hope that this system might not be a total bogus.
Also as Michael already mentioned using proper MACD is vital, I was really surprised to see how many times it did prevent me from taking a loosing trade.
Hmm are you sure the EA was working properly giving the exact same results as you were to trade it manually? Sorry I donāt want to come of as rude by questioning your and othersā experts programming skills, but I just saw many failed attempts to automate this system.
Itās an interesting trade system, but I think itās quite complicated, too many variables, I believe the simpler the trading system, the more effective it is.
Itās one of the simpler ones Iāve seen. Takes 10 secs to set up on charts, wait for MA crossover, check 3 indicators and decide. Not complex at all.
Iāve been using the cowabunga system in demo trading and in live trading for a good few months. Iāve always found it profitable but over the past few weeks most of my trades seem to hit stop lossā¦
Can I have peopleās point of views please? Do you think Iāve started to go wrong? - I use two time frames: the 15 minute and 4 hour and trade of the 15 minuteā¦on the 15M chart, I have MACD, RSI, Stochastic, Moving averages x2 and on the 4H chart I have Stochastic, RSI and 2 moving averagesā¦
As far as Iām aware Iāve been continuing consistently since Iāve startedā¦has anybody else at any point encountered problems? If so, what have you done?
Hi everybody. Today (05-22-17) there was a successful trade of cowabunga system, but it was not shown in the blog. I grabbed 28 pips (R=0,9). There was a clean break but unfortunaly the price retraced back to my trailed stop . Everybody did the same?
Hi all, I really like the Cowabunga trading system but I have 2 questions. I apologize if these sound basic. I searched the forum but I couldnāt find anything on these topics.
If I get a signal to go long GBP/USD on the 15 minute chart (5 ema crosses above 10 ema, macd, stochastic, and rsi criteria are met), but the 4 hour chart shows that the 5 ema crossed above the 10 ema but the stochastic is trending down while the rsi is above 50, can I still take this trade? Must all the criteria for the 4 hour chart be met for a long trade at the time when the moving averages crossover on the 15 minute chart?
If I miss the entry signal on the 15 minute chart by 1 bar (ie Iām approximately 15 minutes too late), can I still take the trade? Or should I wait until another time?
People who say this are those who havenāt backtested it on a decadeās data, and I know from your post that you havenāt.
Those who have are surprised, and change their attitude, because it has no overall positive expectancy. There are several threads here (if you can find them, which isnāt easy) where this is discussed in detail. I suggest you donāt build up your hopes too much for the Cowabunga.
Itās up to you. The only way to know the answer to this with certainty is to measure the effects of doing so over 500 trades and compare them with the effects of not doing so over the same 500 trades.
Bottom line: neither will be profitable over the long term because itās a method without positive expectancy.
Charlieās post above was actually the most helpful answer to you, together with its inference that you should be looking at something else instead. But that wasnāt what you wanted to hear. Which is why youāve got the problem.
Hey There Mr. Big P.,
Just want to thank you for a really great system. I am a conservative trader but not as much so as the treads I have read. With some very minor tweaks, I have been using Cowabunga on the Majors and the EJ for several weeks with awesome results. Mostly in the NY session stopping by noon or so, and avoiding MAJOR News of course. Today was a typical day over the last month or so. EJ -15 pips, GU +25, EU + 25 and UJ short for + 30. All on 30 min TF.
If I had bigger stones, and stayed in my trades until I got an exit signal, the results would be MUCH , MUCH better. Like I said, Iām conservative in nature, but I think your stuff will change that soon.
Itās your system, so itās up to you if you wish to share any of this. I just wanted to thank you, Big Time!