The Cowabunga System

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1085

I did not see it when it came in live, but I just looked back to that point and I can see where there wasn’t much movement on the Stoch at the time. I think in those situations it may just be better to skip out on the trade.

Also, take note that the MACD did not show a decline at the close of that candle, so that would be one indicator that did not pass the rules completely.

In general, if any rule can not be satisfied, then the there is no trade.

1086

Hi Charrell, if it’s already in the negative and becoming more negative, then there is no entry.

Good luck!

1087

Hi charrell, i believe the reason we do not go short is because in this scenario this implies that the down trend has already been ongoing for a while. Therefore by jumping into the trade would probably cause you to be catching the tail-end of the trend, which may not be desirable. Hence with the MACD rules, the Cowabunga system is trying to catch ‘early’ trends. :smiley:

1089

Hi there,

Dear Mr “Cowabunga”,

Thank you for this generous site.

I just started to apply the cowabunga system, and do like the simplicity of it.

I would like to know how could we get back into a trade after the trend has been estbl.?

Eg., The trend is down and has been goling on for about 4-6 candles and in the 15 mins charts there will be points when it retraces and then resumes the main trend , could we get into the trade if all the indicators on the 15 mins lines up as well, after the retracement?

or is this system all valid for the start of the main trend?

Thanks very much for the answer.

1090

Hi Rufino, i’ve tried what you said and the trade was profitable as long as it matches the entry criteria. However that being said, do monitor and trade with caution as every trade is always different.

Nothing is guaranteed in the markets :smiley:

1091

Hi Rufino,

When you talk about the “trend” - are you referring to the 4 hr chart? If so, you can always look for cowabunga signals on the 15 chart - no matter how far into the trend the 4 hr chart is. You look at the 4hr chart for the direction of the general trend - what was the most recent trend-change candle? If up, then from now on, you are looking for up trades until there is a trend-change to the downside and v.v.

If you are referring to getting back after a retracement in the 15 min chart, then I do not know what the results of that would be, but the rules of the system are that there has to be an ema crossover along with all the other indicators - so if there was a retracement and then the price starts moving back in line with the trend and you have all the indicator requirements and ema crossover, then of course it’s valid.

Sorry if I misunderstood your question and hope this helps.

1092

Hey guys. I was wondering how much on the average the cowabunga was able to give in profits in 2009.
I would be most happy if some of you guys can tell me how much in percent you were able to make last year. Thanks

1093

I have been reading this tread for some time. Could someone please post the most update ea for this sytem.

I enjoy this thread very much and would now like to start trading this system on a demo account. Does it work differently depending on the MT4 platform or does it not make any difference.

Any information would be greatly appreciated.

1 Like
1094

That’s also a hugely bearish pin formation on that candle. I know the system does not talk about candle patterns but they can add extra confidence to taking trades. The pin formation plus the largely sideways market (in addition to the fact the system did not offer a valid signal - MACD already positive etc) would have kept me out

1095

Can anybody tell me whether when determining the trend on the 4H chart, whether we need to consider RSI and Stochastics and their relative position or are we just looking at the direction of the most recent crossover?

Today for example, the trend was clearly down following the 5 EMA crossing beneath the 10EMA, BUT on the 4H chart, Stochastics were in an oversold position. Does this matter on the 4H chart when determining trend?

I’m fine with entries and exists on the 15M chart, but have noticed a few occassions where on the 4H chart, the indicators looked oversold and this may have led to incorrectly shorting on the 15M chart, where the trend may be due a reversal?

Huge thanks
Daxter

1096

Is anybody using the cowabunga system to trade other currencies other than GBP/USD, and how is it working out?

1097

I am having trouble getting the cowabunga indicator to send email. I have set up my MT4 to correctly send the test email. Is there something that needs to be edited within to cowabunga indicator to get it to trigger the sending of email upon a signal? Thanks.

1098

Hi!

I trade aud/usd everyday with cowabunga system. It is fine. Did a lot of pips.

This week, I will try others majors.

Thanks

1099

Hi all!

Today, I short aud/usd at 7:30 EST at 0.9063 for 30 pips with cowabunga strategy. My objectif is 30 pips a day.

Just to say that the cowabunga system can apply on any pairs of currencies.
What you have to do is knowing very well the rules of the system and tools like pivot point, looking closely the previous day/week or month high and low. Price mays retest and fell or pass through those levels of R/S.

May God bless all traders

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1100

Thanks, I only came across Cowabunga last week and believe this should work on any pair from a technical perspective. Obviously the lower liquidity of a pair the less movement you can expect so some adjustments should be made for that. But any of the majors or commodity pairs should work - all in the execution of the strategy.

How long have you been trading Cowabunga and do you have any results to share? especially on the non-Cowabunga pairs?

1101

Hi Daxter22!

Welcome to Cowabunga system.
I have been trading with Cowabunga system more than 2 years.
First of all, I like the moving average used to determine the trend in the 4 hour chart because the hedge funds also like to enter their trades on that time frame too. If we go in the same direction of the big boys then we expect to get more pips.

Thanks

1102

Hi Daxter,

I trade most of the time gbp/usd. Recently, I trade aud/usd with the Cowabunga system and the results are goods but you have to adjust your expectation. But the Cowabunga strategy can apply on any currencies pairs effectively.

This is the only 2 pairs that I check everyday.

Thanks

1103

And you apply daily pivot points and previous support & resistance lines onto your charts to help give confidence of direction and also achievable profit targets?

1104

Hi!

I have some modification about cowabunga system on 4h chart:
I add 30/60 EMA ( 5/10 ema on the daily chart) and macd (21,55,8).

The cross of 30/60 ema gives me an idea of the momentum on the daily chart and macd shows me the bias or the early trend in 4h chart before the 5/10 cross. I use macd(21,55,8) instead of macd(12,26,9) to show me only the trend because I don’t want it cross often.

I use daily pivot point bases on midnight EST to enter or exit a trade and also to see M1/M3 or M2/M4 day.

The previous day/week/month high and low of S/R give a range of trading.
I like to use the fib studies based on the previous range.

Thanks

1105

hi guys,
i’m new here although i have been demo trading for the abt 2 mths. i’ve been using quite a similar method with Cowanbunga except i’m not using MACD. i’m jz simply using ema 5-12 crossover and 12 rsi. Lots of false entry though. my earning was 22% but then on losing streak for the last few days and now ended abt 10% profit. i’m just curious what is your target each week? i know each day’s target would be difficult to reach? (is it?)
i hope i can read all posts in this thread to really understand the cowanbunga system…
cheers,