hi guys, i am new to the forum and pretty new to trading fx. i am still on demo for the past 2 months. I have looked through the system but haven’t really tried it yet. My question is, is this system strictly for GBPUSD? And also would you recommend to trade it during the london market time frame? Would you all avoid the 8pm ET to 11pm ET period? as i notice during this time frame there are always spikes due to news are unknown reasons.
Please guide me on this as i am pretty new. And i apologise if you find my questions silly.
I’m a little confused re the H4 initial trade validation.
I thought that to correctly determine whether to trade long or short for the day, we were looking at not only the EMA cross on the H4, but also the RSI > or < than 50 … and the STOCH cross. In some of PipSurfer’s video reports he mentions [U]only[/U] using the EMA cross (even when the STOCH may be completely contray to this).
Has the general consensus changed as to what the best / most profitable procedure is?
hello guys…
i have a question regardin dis system…
actually i hv jst startd usin dis system and found it great…
i use 5min 15min 30min and 4hr tiimeframes…
i wanna knw which type of indicator is used in each timeframe…
like which diff types of RSI STOCH EMA MACD do i use for each diff time frames…
eg:- rsi(9) for which or smethin like dat…
hope u all understood…
thank you in advance…
hey ive been reviewing the cowabunga system and am planning to go demo for about a month i will get a new laptop this week so ive been planning everything out so setup will go effortlessly. However one problem ive been trying to tackle is the xtick phone alert setup. In the “FAQ Cowabunga System” Pip S seems to try to answer this question with the question
"How do I set alerts on my chart so that it sends me an email to my phone when there is a signal? "
however at step 10 it says " To have the alert be sent to your phone put THIS in the “to” box." but “THIS” seems to just bring me to this website does anyone know what that is supposed to be?
just take the R value and multiply it by the per trade risk you use to give you a %. Since you increase your trade size as your equity increases you need to do this month by month to give yourself the compounded figure which of course will be significantly higher than simply taking the total R as shown
I was wondering if there were any live trading groups that use this system ?
I am a newer trader, and most the time I work with the daily charts, but am going to give this system a go. It seems to fit my personallity but I know it can help when you have a few people that are working together to try and catch good trades and some mistakes. Does anybody know of any live trading groups doing this system…and if not, would anybody like to start one ?
If so I am more than happy to put together a voice chat server (like ventrillo) to use, and I can cover the cost.
Hallo
Don’t know about the group, but I use this system live and now. System works but has some isues. I use BB too to find out in what situation we are now lower or higher than mid BB.
Hello, im pretty new to forex and i was wondering if any body uses gtf deal book wit this system, problem is for the life of me i cant figure out how to set the codes.Can anybody help, it would be greatly appreciated.Thanks.
I am new to Forex, but wanted to share my thoughts after a month of live trading (didn’t make much, but didn’t loose much either :-)).
Seems like pretty much any combination of tech. indicators work on trending markets, so pick up your set of indicators call it a system and here you go. Unfortunately most of techs do not work in ranging markets at all, and that’s what we have most of the time.
As to the Cowabunga System seems it’s no worse or better than any other, btw it’s performance (63% wins is it?) is awfully close to 50/50 which is pretty much like flipping a coin.
Excellent appreciation for a newbie, and I’m totally agree with you Pauldig. What I’ve learned in my 1.5 years of experience in this market tells me that every strategy is ultimately the same, the difference lies in money management which is for me 95% of success/failure responsible in this market.
I am a newbie about to try the Cowabunga system and would really appreciate if someone could answer my questions:
I am using Oanda with 1:50 leverage. I want to start out making $1/pip so I would need to be trading $200. How much extra margin would you recommend I have in my account to be safe with the stop-loss risk in the cowabunga system?
I haven’t tested it, but just visually looking at recent cowabunga trades, it seems that getting out of the trade when all the indicators reverse (RSI, Stoch, MACD) can save you quite a few pips instead of waiting til you hit your most recent swing-high/low. From what I saw, it’s been pretty reliable as to where to end the trade i.e. - usually after that it does reverse.
Has anyone tried using indicators as an exit point?
I agree with your risk management rules - however I want to make $1 a pip, so I would rather increase the margin in my account than lower my leverage. My question is how much margin do I need to be safe with this system?
Another question: I’m a bit confused about the good times for trading this system. In the system description, he writes that he stops all trades between 4pm -12am ET. However, in the FAQ he writes
"I usually start looking for signals after 6pm ET."
This is an answer for the same question that was posted 2 days ago on the Pip My System section. I hope it helps you:
Extract from So You’ve Finished The School Of Pipsology…Now What? | Forex Blog: Pip My System
Signals that occur before 12 midnight ET should be taken with caution. While you can still take them, you should be cautious because market volume is very quiet before the Euro session. As of 3/5/07 I am only taking signals that occur after 12 midnight ET. I will close my trade whether I’m in the money or not at 4pm ET because market volume is very low at this time. Trade signals that you see before 12 am ET (midnight) should be taken with discretion because market volume is also low at this time. Optimal signals usually come after 1am ET.
can i ask if lets say the stochastic cross over then follow by the MACd after 3 or 4 bars. can i still take the trade or all indicators should coincide then i will take the trade?
I am a bit curious in regards to the MACD indicator. In order to go short it is mentioned that it must be positive and moving into negative or be positive and start to go down in order for that indicator to match up.
Does this mean that you you may not go short if the MACD is already negative? I only ask, because the Cowabunga custom indicator showed that there was an entry point to go short today, but the MACD was already in the negative range and becoming more negative.
I liked this system before I discovered the “Cowabunga” version. When I read about it in the school of pipsology, minus the MACD and trend rule, I was excited about it, because it all made sense to me. I do value that the Cowabunga system has added the trend and MACD rules, but I want to make sure I understand the actual requirements for the MACD.
