Hi every one,
I live in the Uk and I am new to trading I have been paper trading the “cowabunga system” to the Eur/USD
Today the Ema lines crossed at 1.00pm (long signal against trend),2.00pm (short signal with the trend), 3.00pm (long signal against the trend)
GMT timezone.
All other indicators (MAC D, RSI, Stochastics),gave the correct signal.
If I had went with the trend at 2.00pm signal I would have lossed money!!
any one any suggestions as to what i should have done
Cheers
First this question should be asked in the “cowabunga” section in
http://forums.babypips.com/free-forex-trading-systems/
next when you get there read the statement below.
Remember, this is not a holy grail. The system has its flaws, but it does work pretty well. Also, this system is NOT for everyone. If this doesn’t fit your trading style, then don’t force yourself to trade it. You’ll be miserable and it just won’t be fun. I’ve tried doing that before and I hated it. The Cowabunga system is meant for educational purposes and is simply a way to show you that a simple system can be effective in the Forex market if you stick to your rules and stay diligent. Have fun with it, and maybe it will inspire you to come up with a system of your own.
“Remember, this is not a holy grail. The system has its flaws”
In addition to Daydreamers points the cowabunga is for GU not EU. Look at its historical performance and you will see that only about 55% of trades are successful