Cowabunga crypto pitfalls

So I’ve been trading the cowabunga system on ETHBTC over on Binance. I’ve tweaked the take profit rules and don’t close trades until they hit SL or TP. I’m also only taking long trades. I’m in the process of adding various coins to my watchlist from a variety of sectors and will look for buy signals on each every day.

What are the major pitfalls of this system? Obviously it doesn’t fair well in ranging markets and I’ve also noticed it doesn’t perform so well after big price moves. Anyone any experience trading this system in crypto and can share their thoughts?

@t33np0k3r

the “COWABUNGA SYSTEM” huh hehe
well… it sounds totally legit and certainly not a name that any marketing company would make up
to hype up the product

i can’t see how you could go wrong with this :stuck_out_tongue:

It’s the one Pipsurfer has been posting updates about for years, free obviously, seems to work pretty well. Pip Surfer - BabyPips.com

I backtested it over 12 months on ETHBTC and it worked very well, even during the huge sell off which started in Jan.

Anyway, same question, anyone used/using this and have any useful observations/noticed problems?

don’t get me wrong, i’m a simpson’s fan… No Question about it.

but you can understand my paranoia and suspicion on this… right ?
if it works for you… hey… roll with it
all the best

i got my thing,
you do your thing

my thing works for me

How about you show me yours? :wink:

@anon81929759 The Cowabunga System is a system developed by Pip Surfer, one of the FX-Men.

Hence, the name, Cowabunga System. The system has never been hyped. He’s simply a surfer who enjoys saying “Cowabunga!” Nothing necessarily wrong with that.

All system rules are fully disclosed and it’s up to the trader to determine whether the system suits him/her.

You can read more about his system here:

He also provides FAQs:

And you can follow his trading adventures as well:

https://www.babypips.com/authors/pipsurfer

@t33np0k3r, like you mentioned, the system isn’t optimal for ranging markets.

Also, going short in a crypto exchange is either not available or ridiculously expensive so not being able to take both long and short positions is kind of a bummer.

Currently on an exchange which only deals in crypto/crypto pairs and has hefty withdrawal fees.

Do you know any exchanges that offer crpto/crypto and crypto/usd pairs?

In an ideal world I’d have a BTC ‘denominated’ account and place long trades on ETH/BTC and short trades on BTC/USD so I don’t have to ride the enormous sell-off waves! I don’t want to use USDT for obvious reasons.

There aren’t many. GDAX is the most well-known. Bittrex is rumored to launch USD pairings soon.

USDT is great…if you’re part of Bitfinex. :grimacing:

One way to do this is short BTC/USD via CFDs. But you’ll have to factor in overnight financing costs depending on how long you hold your trades.

Hello Forex Gump

No No, that’s fine

firstly, i was not aware of this system and given this industry and all the crap in it and all the systems that have fancy names , my little suspicion antenna’s went up hehe

i wasn’t discrediting him
i was just saying, FOR FACE VALUE, it looked questionable

but again… everything is not face value
i’m a big fan of testing things
so… if it’s tested and it works… ok cool

now as you said as well

so… to a degree i was correct
the name was made up to sound cool
and that’s fine, as long as the system works

and i’m sure , given that he’s a babypips mod
he has to give it a name THAT APPEALS TO THE MEMBERS and to HIS PERSONALITY or Avatar personality. let’s be honest

each one of you have a personality to uphold here… right, hence the avatar’s

so all i was saying was…
it was a marketing name designed to sound cool
and it is

but the system itself , needs to be questioned and useful or otherwise before people jump in
now…
it has been mentioned that that has been done

so… .all good
either way, i’m not using it, i have my own system
so, it doesn’t really affect me
but, i wasn’t bagging it, i was just giving an opinion.

take care

Based on your initial post, it’s pretty obvious you were trying to discredit him. What’s sad is that you admitted at “face value”, it looked questionable which means you didn’t even bother to do any homework before bashing someone else’s system.

How does criticizing something at face value help the community? @t33np0k3r was asking for feedback from someone who has experience using the system.

This obviously is not you.

Why can’t you just apologize and admit that you were wrong here?

Popcorn anyone ? Ice cream ? Coke ? :slight_smile:

NO, that’s not what it means
and if you have to tell me what it means. IT MEANS that it’s your interpretation and you need to explain it

Mate, I SAID IT… I know what i meant ok
we all talk differently and when I SAY SOMETHING LIKE “AT FACE VALUE IT LOOKS QUESTIONABLE”
it means… i Question it…
beyond this you can assign any meaning you want to it, it doesn’t mean it’s what i meant
all it means is… IT’S WHAT YOU THINK I MEANT

because it’s not what i meant
Why should i apologize when you REASSIGNED THE MEANING OF WHAT I SAID

that would be like me re defining what you say and then giving it a negative meaning and saying to you to apologize
that’s not right… is it ?

I’m TELLING YOU what i meant
You’re refusing to accept it
that’s not my fault. ok

here is a summary

I SAID THIS…

Now… can you really not understand the direction i was going in here?

AS A FACT : this is a name that was made for marketing reasons
You are on a site that is TARGETED AT NEWBIES
the site NEEDS TO LOOK ATTRACTIVE AND APPEALING, SO DO THE SYSTEMS

WHY DO YOU THINK THE MODS HAVE COOL LITTLE THEME NAMES, do think their mums gave them that name
No mate, THIS IS MARKETING
and there systems have to have COOL LITTLE MARKETING NAMES AS WELL that’s how marketing works… ok

so what i said here was not false nor was it bashing THIS IS YOU WORD not mine.

YOUR POINT WAS …

Why would i ?
it was called the COWABUNGA SYSTEM

Mate, if i made a trading system called THE WIGGLES SYSTEM or the SESAME STREET SYSTEM or THE DORA THE EXPLORER SYSTEM

WOULD YOU REALLY TAKE IT SERIOUSLY ?
let alone do deep research

so yeah FOR FACE VALUE it looked like Absolute BS THIS IS MY OPINION (WAS, my opinion)

then you said

well. firstly, it’s CRITIQUE not criticizing , there’s a difference
Secondly, i did give feedback the FEEDBACK AND OPINION OF ONE WHO HAS TRADED FOR 7 YEARS AND BEEN SUCCESSFUL FOR 4 YEARS APPROX
so… My opinion counts for something

it’s like if you show me a computer for a few seconds and i give you an opinion as to whether it’s crap or not
it would be a different opinion and hold more weight as opposed to you if you made the opinion… see my point.

I WASN’T BASHING HIM MATE
he had a childish name attached to his system, can you really not understand why i didn’t take it seriously for face value

Why would i research it… mate
i have a system that works, i don’t need to research others

NOW… RE APOLOGIES

IF YOU READ WHAT I SAID CORRECTLY YOU SHOULD HAVE INTERPRETED THIS LIKE THIS…

so next
@t33np0k3r said this


and my opinion at the time was… “Ok, i guess if it’s working pretty well, then… good” i don’t need the system personally , but if it works for others, good for you guys then.
i accepted his input for what it is . simple as that

then…
i said this

i would think that AT THIS POINT, you should be assuming that i’m being proven wrong and i’m accepting it and i’m not arguing AM I ?
and i’m giving an explanation of my actions AND RIGHTFULLY SO. with a name like COWABUNGA SYSTEM i mean… do you really not get it or what ?

then this was said (i actually missed this because it wasn’t addressed to me and am seeing this for the first time now )

my response is… NO I’M NOT GOING TO SHOW IT… I don’t have to
and Not showing it does not mean i have an inferior system
i don’t care to show it … simple as that (take that as you will)
i mean given the “HOW ABOUT you show me yours” and the tone of the response
i would have to be stupid to show it, because WE ALL KNOW that all that is going to come from it is an argument

I’m not against pipsurfer, i dont’ even know him… good luck to the guy as far as i’m concerned, i’m not here to compare with him who’s system is the best, i don’t care
nor am i here to prove anything to newbies

MY SYSTEM WORKS FOR ME… END OF STORY
his system had a cool fancy marketing name that suited his avatar THAT’S MARKETING… end of story

then… @forexgump popped in with some clarification
ok… i respected his opinion and input as he clarified this system to me that i have never heard of before this

he said

well NO. not the system itself as far as i know
but THE NAME OF THE SYSTEM … definitely yes
and his name… yes
and FX MEN yes
and FOREX GUMP yes
and PIPNOMICS DUDE… yes
everything here is a PLAY ON WORDS THAT’S MARKETING… ok that’s not bashing , IT’S A FACT

then he said

and i totally agree
so i then came to the conclusion that, since forex gump told me this that

  • IT’S PROBABLY A SYSTEM THAT WORKS based on what people have said
  • but it’s been given a name that makes it look questionable

simple as that
WHY DOESN’T HE CHANGE THE NAME to make it look more professional… OH YEAH… BECAUSE HE’S A SURFER DUDE AND THIS IS THE IMAGE THAT HE PORTRAYS

ok… i can also respect that
but, again, i wasn’t bashing
I INTERPRETED WHAT WAS PRESENTED BEFORE ME and i think it’s a fair interpretation
my interpretation was not based on hate at all, so it’s not bashing

i then responded to forex gump CLARIFYING that i was not aware of this system
and i clarified this as well

Now… YOU HAVE TAKEN WHAT I SAID HERE …OUT OF CONTEXT
and decided to paint me as the bad guy

i have done everything i can reasonably do to make sure there were no bad feelings
i did what i did because it was a name that was not to be taken seriously
i’ts a surfer name, it’s a simpsons name WHY WOULD ANYONE TAKE IT SERIOUSLY ?

the purpose of the name is to create a relaxed… CHILLED, laid back kind of feeling
i’ts not a serious name BY DEFINITION and the intent when it was created CERTAINLY WAS NOT TO CREATE SERIOUSNESS, in fact , i would imagine it would be quite the opposite

a surfer dude does not inspire seriousness in people
a surfer dude inspires CHILLED FEELINGS in people ,hence the name of the system WAS NOT DESIGNED TO BE TAKEN SERIOUSLY

Whether the system works or not is a separate discussion

so… why is there no apology

well. if you read this correctly , there is
the words I’M SORRY are not there, but if you read it correctly (As we SO LOVE to mention “THE TONE” of the conversation)

IF YOU LISTEN TO THE OVERALL TONE YOU WILL HEAR AN APOLOGY
IF YOU DON’T HEAR IT , YOU ARE NOT LISTENING CORRECTLY

because my response to forexgump was basically just that
it was a response of respect which had an apologetic tone to it

Whether you can hear it or not is another matter

then you came in saying that i was bagging him

Mate, i was not
but how you interpret what i say is another issue altogether

PS… i’m trying to shorten my posts… YOU ARE NOT HELPING THAT ISSUE
see… because i now have to extensively explain myself, this post now becomes this long

and even though you can’t see that

@falstaff clearly did

let’s all go the lobby to buy ourselves a drink :stuck_out_tongue:

does that clear it up now