Almighty GBP/JPY versus Cowabunga system

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62

Tega,

Did you place any trades today.

63

Yes I did but have not been able to exit yet… still glued to my PC cos today is very volatile:D anything can happen… I will edit and post probably tmrw:)

64

Hi i’m caught in between the GBP/JPY i entered short when i think there was a reversal, the reversal went just abot 17 pips and has since gone up to 225 down to 215 now. My problem now is that i cannot exit now, i want to wait untill it reverses, but how long will i need to wait?? somebody help me.

65

Hey there,

Take note, please stay away from currency trading every 1st Friday of the month��� if you must trade, then you must be by your system all through the trade session because anything can happen� its just a piece of advice.
I was lucky to get out just 177 pips from two trades.

I see the main trend as up as long as the blue MA line is above the red MA line and the RSI remains above 50 (irrespective of the direction of the STOCH) in the H4 chart. This means that I always look for a long position in the M15 chart.

I made the first entry at 237.27 after the cowabunga setup���. But I had to exit at 237.59 before the announcement of Nonfarm by 8:30 EST.
I made another entry at 237.35��� now don�t ask me why because I don�t know much about this fundamental stuff�� at times I trade with sentiments, so I only joined the bandwagon and for that I had to stay by my system to manually exit the trade at 238.80 when I was satisfied with what I have gotten for the day��… Yes I was not scared to exit my trade as long as the RSI in the M15 remains above 50.

Hope you learnt something from this.

66

Sorry, I was unable to make a post for yesterday cos been very busy… though I was unable to make much yesterday (31pips):smiley: atleast i did not get a loss… thanks to my trailing stop facility.:eek:
Happy trading

67

The pair happens to be very aggressive yesterday… so I had to stay out of trade:p But if it suceeds to break the resistance line 239.70, our up trend will continue:cool:
Happy trading.

68

Hi Tega

Been going through this whole thread today - many thanks for sharing your expertise here - I found it very useful. Two questions please:

  1. What are your MACD settings, and

  2. What is the reason for your preference for the GBP/JPY pair generally?

Thanks

Houmous:)

70

Hi Tega,

Long time no update from your side. Is everything OK. I see you online but you dont post your trades.

Take care buddy.

Siddharth.

71

Yes, everything is perfectly well and I am always online busy… working:D… maybe by the time I start trading for a living then I will be able to contribute to this forum consistently but not sure yet if I will be able to continue posting my trades in this thread.
Though I was able to show with few posts that cowabunga is very effective, it requires you to stay glued to your screen for you to get entry and exit signals:( This is really demanding… will really depend on your trading personality.

Hope you have started demo trading?

72

Thanks for the compliment… sorry I have been very busy lately.
I use the default MACD settings: 9 SMA, 12 EMA and 26 EMA.
The reason for this pair is because of its trending and volatile nature… which allows you to capture as much pips as you can in a very short time if there is a signal.:smiley:

73

Hi tegasite.

I have been reading this post and found it quite interesting as I myself love to trade the GBP/JPY pair.

My question is as I could not find an answer anywhere, could you please list exactly which indicators you use and how entry/exit is decided? I am curious to test out this system.

Thanks,
Mark

74

I’m also trading this pair (live trade). Incorporating Cowabunga makes me rake in more pips. Thanks to Cowabunga!

75

Hi,

Just a couple of questions for you on this, whats your win loss ratio?
and
Whats your risk to reward ratio?

and is anybody trading this live?

Thanks

Naeem

76

I trade this pair using the standard settings on the indicator, which is posted on another thread. It tend to do OK but I have had 6 in a row wrong in backtesting. I guess any system will do this though. Nice short signal today (2 of them)

77

this would have caught a massive move today!

78

Hi Tegasite

I am new to this forum and would like to ask a few questions?

Original cowabunga system use 9 RSI and 5 - 10 EMA and your modification system use 14 RSI and 4 - 8 EMA.
Is there any reason why you use it?

Do you apply the 14 RSI and 4-8 EMA on both time frames (4 hours and 15 minutes)?

Thank you

79

Hi there,

Finally finished reading all the posts. Thanks for selflessly sharing your method Tega.

Just wondering, any updates on the live mentoring/trading sessions? That way, we certainly could learn much faster as to why trades were taken or not taken etc.

Thanks again for the sharing. We need more people like you to help the newbies through the not so kind world of forex learning.

80

Hi, is anyone still trading this system?

Regards.

81

Tega,

Have you continued to trade this pair with Cowabunga? If so, have you continued to have success with it? Live account or demo?

82

it seems you have few indicator in your chart… and your MACD has those 2 lines difference… HOW DID YOU DO THIS? Please help me how to configure those 2 lines in MACD?