The Cowabunga System

This is from the q and a.

Quoteā€™How come you donā€™t update your trade record anymore?

I have updated my track record religiously for about 4 years now. Publicly, Iā€™ve 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:

MeetPips.com Cowabunga Track Record

Read more: Cowabunga System FAQā€™ end quote.

I donā€™t 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 traderā€™s 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. Iā€™m 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. Iā€™m loathed to mention it here for fears of people saying that iā€™m marketing when in fact Iā€™m sharing the results of my research. Anyway forum watchers will know what Iā€™m 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 :). Thatā€™s my research input, pls help me if you can ! And yes, Iā€™m also working on being profitable from my own ideas and will share anything I come up with. (donā€™t 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.comā€™s charting software and that took me bloody 4 hours, I canā€™t imagine how long would it take to backtest years worth of trades. And I wasnā€™t 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.

No; I backtested it using automated software and over 10 years of data.

The other two people I mentioned did the same (in their case, using privately owned software which belongs to their financial-institution employer).

Hmm are you sure the EA was working properly giving the exact same results as you were to trade it manually? Sorry I donā€™t 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.

Where I can get the updated Cawabunga System? I just want to try if it works for me. Thanks in advance. :slight_smile:

Itā€™s an interesting trade system, but I think itā€™s quite complicated, too many variables, I believe the simpler the trading system, the more effective it is.

Hello
How do I get the system and the rules to know if it matches my trading style.
Thanks

Itā€™s one of the simpler ones Iā€™ve seen. Takes 10 secs to set up on charts, wait for MA crossover, check 3 indicators and decide. Not complex at all.

Hi,

Iā€™ve been using the cowabunga system in demo trading and in live trading for a good few months. Iā€™ve always found it profitable but over the past few weeks most of my trades seem to hit stop lossā€¦

Can I have peopleā€™s point of views please? Do you think Iā€™ve 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 Iā€™m aware Iā€™ve been continuing consistently since Iā€™ve startedā€¦has anybody else at any point encountered problems? If so, what have you done?

please Where can i download the cowabunga system? a link will be nice

Thanks for provide all this information! Cannot wait to try out this system.

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?

Thanks


@Trader_Roberto who are you trading with?

I coded the Cowabunga system into TradingView yesterday evening.

You can find it here.

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 couldnā€™t find anything on these topics.

  1. 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?

  2. If I miss the entry signal on the 15 minute chart by 1 bar (ie Iā€™m approximately 15 minutes too late), can I still take the trade? Or should I wait until another time?

Thank you for your help,

oscarmike

People who say this are those who havenā€™t backtested it on a decadeā€™s data, and I know from your post that you havenā€™t.

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 isnā€™t easy) where this is discussed in detail. I suggest you donā€™t build up your hopes too much for the Cowabunga.

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Can anyone please answer my two questions? Thanks in advance.

Yes.

Yes.

Itā€™s 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 itā€™s a method without positive expectancy.

Charlieā€™s 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 wasnā€™t what you wanted to hear. Which is why youā€™ve 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, Iā€™m conservative in nature, but I think your stuff will change that soon.

Itā€™s your system, so itā€™s up to you if you wish to share any of this. I just wanted to thank you, Big Time!

Bob

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