The Cowabunga System

[MikeMcGlen]

Can someone please educate me as to what cowabunga is. I’m a newbie and still learning every aspect of forex. Thank you.

I agree, please let us know what is cowabunga and how it works.
Thanks in advance.:o

[fxray]

Hi, I have been using a similar 15min strategy to your Cowabunga method for about the past 9 months prior to discovering Babypips.

The addition of using the stochastics and MacD as you recommend on a 15min chart has helped improve my winning pip rate a lot - thank you. I used to only follow a Daily trend and have now moved to 4 hour which sometimes provides an extra opportunity.

I also have a 50 simple moving average on the 15min chart and trade when I have the cross over of the 5 & 10ema through the 50sma. This does seem to help reduce getting caught by head fakes. I take the trade when a candle closes through the 50 and the next candle then retests the 50sma before continuing in the direction of the trend.

I hope this may help some traders

[ziki]

I am a newbie and new to this forum.

Please what is this trading system called cowabunga and where can I download it and use it to trade?

Please help me out.

[fxray]

Hi Ziki

As I understand it the cowabunga system is designed for new traders to try once they have been through the Babypip school. This is the link to the rules on how to trade with it…

So You’ve Finished The School Of Pipsology…Now What? - Pip My System - Beginner’s Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

Hope this helps
FxRay

[wuzupeverybody]

wuzupeverybody

trying out this system

so far
so good

[tonymand]

Thanks, I realize there will be subtle differences bewteen platforms, but the differences are substantial. Looking at the 5/7/07 Cowabunga Daily update 15 min chart, the signal line does not represent a time period of 9, does it?

While the 15 minute chart on the Update is negative and fairly active, the MACD on my 15 minute chart is on the positive side and quite a bit less active. Am I missing something? Any help is greatly appreciated.

Its important to realise MT4 uses a 9 SMA (not EMA) as its default which is why your charts look different regarding the MACD Histogram. Not aware how this can be changed

[hlnchoo]

sounds logic, 2, 3 failure will wipe off our effort.

[hlnchoo]

hi guys,

Cowabunga system is pretty much straight forward and easy to implement, but somehow not everyone can stay online whole day watching the screen.

hence, this thread is good for those traders who cant spend too much time in trading.

i personally use H4 to trade ( seldom switch to H1, or M15).

1. applied the entry strategy designed in cowabunga ( 5 EMA 10 EMA crosses, the slow stoc, the rsi…etc)

2. the stop loss should be the previous swing hi or low

3. most interesting … the profit taking part… i had received a detail report regarding the maximum pips you might getting for each day. ( note it down, it helps a lot)

if you’re trading on these days… the maximum range will be

monday = 110 pips
tuesday = 121
wednesday = 115
thursday = 147
friday = 107

and of course, we don’t expect to take 100% of the total possible pips for the day. ( you may take 70 - 80 % )

let’s code a real example:

look at 29 / 08 / 2007 08:00 GMT, H4 chart. We saw the 5 EMA cross above 10 EMA and with all condition fulfill ( slow stoc heading up, RSI > 50) at market price 2.0069.

this is a valid long signal.

buy entry set at 2.0069, stop loss = 1.9959 (previous swing low)

total possible pip on wed = 115

we take 70% of it = 81 pips

so TP = 2.0069 + 0.0081 = 2.0150

if you really observe, then you’ll notice actually you only spend about 4 hours to achieve your 81 pips.

[Igy]

Hi, I’ve just unzipped cowabunga fles to folder “FX Trader 4\experts”, and cowabunga showed on my expert advisor list, but nothing is happening on double click. Am I wrong? Can anyone tell me why?
Thank you

[tonymand]

So on MT4 it is in your custom indicator list. ie you go insert - indicator - custom - cowabunga?

[adelimbaby]

Can anybody tell me How I can download Cowabunga

[lordginger]

I’ve rewritten the MT4 indicator so it should be a lot easier to use. The 4 hour trend is indicated on the 15 minute chart and the triggers now appear as arrows. You can configure it to send you and email when a valid trigger occurs but I’m not sure how useful that will be due to the inevitable delay in getting the email.

Strongly urge to display all indicators on chart and check validity of my indicator signal. Not guaranteed to be bug free but let me know if you find anything amiss.

I’m really sorry to disturb you, but I can’t read this indicator created by you on what you said we can see the H4 chart on the M15 chart, please if you can explain a little bit how can we read this indicator constituted of the blue line and the red one ! thank you.

[tonymand]

Can anybody tell me How I can download Cowabunga

There is nothing to download or do you mean the indicator?

[tonymand]

@lordginger

I’m really sorry to disturb you, but I can’t read this indicator created by you on what you said we can see the H4 chart on the M15 chart, please if you can explain a little bit how can we read this indicator constituted of the blue line and the red one ! thank you.

Here it is loaded onto a 4hr and 15 min chart on MT4. I dont actually find it that useful especially since it occasionally seems to miss an entry. Its much more efficient to set up an alert to your phone using the 15 min MA cross

[lordginger]

Here it is loaded onto a 4hr and 15 min chart on MT4. I dont actually find it that useful especially since it occasionally seems to miss an entry. Its much more efficient to set up an alert to your phone using the 15 min MA cross

Thank you anyway

[aksultra]

Thinking of getting back into the trading groove. Can anyone explain if I have to follow the blog by revisting every 10 mins to see if there is a trade that big pippoin executed on the chart or is there some sort of alert that calls you to the blog so you can tell when its “go time”. I ask this becuase the only indication I’m getting is ting like :“well guys, looks like a good weeks today” or "well guys we lost 14 pips on this one."
Am I doing something wrong…let me know fellas why dont yah…thanks…

[tonymand]

Thinking of getting back into the trading groove. Can anyone explain if I have to follow the blog by revisting every 10 mins to see if there is a trade that big pippoin executed on the chart or is there some sort of alert that calls you to the blog so you can tell when its “go time”. I ask this becuase the only indication I’m getting is ting like :“well guys, looks like a good weeks today” or "well guys we lost 14 pips on this one."
Am I doing something wrong…let me know fellas why dont yah…thanks…

Use alert fx which you can programme to send an alert to your mobile when you get an MA cross on your 15 min chart

[celticheart]

Hi… I’ve download the cowabunga zip file (found it near the beginning of this thread), but cannot unzip it. The Windows Vista unzip utility said it was an invalid zip file, and I tried getting another unzip utility, and it said “corrupted header” and would not unzip it, either.

Is there an updated file somewhere?

thanks,
Deanna

[ChowClown]

Thinking of getting back into the trading groove. Can anyone explain if I have to follow the blog by revisting every 10 mins to see if there is a trade that big pippoin executed on the chart or is there some sort of alert that calls you to the blog so you can tell when its “go time”. I ask this becuase the only indication I’m getting is ting like :“well guys, looks like a good weeks today” or "well guys we lost 14 pips on this one."
Am I doing something wrong…let me know fellas why dont yah…thanks…

Hi, the blog is updated at the end of the NY session, so no realtime alerts - i think it would be useful to see some charts posted here as entries line up, to demonstrate the differences charting packages/feeds have on signal timing and also to prompt discussion on the money management around each trade, as well as to alleviate trading boredom!

I’ll post a chart or two during the UK session when i’m able to.

Scrappy day for Cowa so far (i use Oanda for charting and execution) - looking for shorts only so far…in fact a short may be set up at the close of the current 15min candle (17:30 UK time)…back in 10mins…edit: didn’t signal afterall.

[dantom]

Hi, I have been using a similar 15min strategy to your Cowabunga method for about the past 9 months prior to discovering Babypips.

The addition of using the stochastics and MacD as you recommend on a 15min chart has helped improve my winning pip rate a lot - thank you. I used to only follow a Daily trend and have now moved to 4 hour which sometimes provides an extra opportunity.

I also have a 50 simple moving average on the 15min chart and trade when I have the cross over of the 5 & 10ema through the 50sma. This does seem to help reduce getting caught by head fakes. I take the trade when a candle closes through the 50 and the next candle then retests the 50sma before continuing in the direction of the trend.

I hope this may help some traders

Hello Fxray,

I use MT4 and I notice that the 5 and 10 ma’s are called sma’s (slow moving average?) instead of ema’s (exponential moving average?). Does this matter? and if so how do I get 5 and 10 ema’s on MT4. I also notice that you mentioned 50 sma above instead of ema. Is that what you meant?

Thanks.