Hey guys, i have been looking for a good strategy, have come across a few but they dont really fit into my time scales or trading mentality so to speak, i came across the cowabunga system, looks kinda easy (ish) and quite low risk… anyone tried this out ? any feedback as to whether its worth it. Cheers
Cowabunga sys is among of the best forex systems out there…but to ensure that you do not wipe away your account,trade only one currency pair at a time.You might want to open the chosen currency pair on different time frames eg. 15 mins , 1 hr ,4hrs, and daily.
Use 15/5 mins to enter the trade in the direction of the trend and set stop loss at the last high that formed before the MA crossover and take profit of 40-60 pips.
Even if your stop loss is hit, you should be happy that you are a disciplined trader, [B][U]AND WAIT FOR ANOTHER OPPORTUNITY[/U][/B],so you don’t go looking for another strategy bcos you’ll spend countless hours on the internet downloading and testing different strategies for years without witnessing any significant profit.
The best practice is when you enter a trade, wait until your account is +ve, and the 2 EMAS expanded enough for you to leave your pc ,THEN expect your take profit to be hit.
As you may know,fx trends may last from 4 - 6 months…so you’ll have countless opportunities with this strategy.Maybe with experience ,you’ll get to trust the chosen currency pair that you’ll know when to use higher lots(>5.0) to get that private jet or Porshe that you’ve always dreamed of.
I hope I have clarified some things with this post…
So Long and enjoy the beautiful world of forex.
What you’ve explained here is not the original cowabunga system?
As far as the one which pipsurfer blogs each day on, there is a thread on here discussing it- it’s under the trading methods bit.
REally appreciate that. Thanks. Always hard to find one which suits the self as there are so many out there.
Dont worry, it takes time and effort. Treat forex like business and you will succeed in the long term. Think always in long term, 2, 3 years. Dont try to find it now because you will get frustrated.
happy trading…