Sorry craig, didn’t mean to get too math-y, I’m just trying to get a handle on how to gague the performance of trading systems.
You could have a system that netted you 5000 pips, but only had like 20 trades (19 winners of 200 pips and 1 loser of 1000 pips, which would be a ridiculous system, this is just an example). Then one would imagine “oh I’m going to trade the 5000 pip system in 2008 instead of the 2600 pip system!” When really the 2600 pip system might be a safer bet.
Thanks Jeff
I see what your getting at. I would say this system is not a get rich quick plan but does consistently captures portions of the market over time, sometimes little gains sometimes larger. I have been very pleased with the system I only wish I lived in another time zone and didn’t have to get up during the night to trade. But that is a small price to pay in my opinion. Good-Luck 
i am new here and i want to know how i can to open a *.ex4 files on any program i can edite it
thx…
…will we see a continuation of the cable down trend from last week, or do we need to see higher prices than this morning’s efforts before the next leg down? 
Lost 40 pips on the earlier short and currently short again, with one lot off and a second trailing…
Hi evryone,
In the Cowabunga system, do you consider the trend to still be in existance as long as, on the 4-hr chart, the EMA(5) doesn’t cross the EMA(10) in the opposite direction to the trend?
If this is not the case, what are the things one needs to monitor on the 4-hr chart to determine that a trend one had been working from no longer exists?
Thank you for your input.
As I understand this, the 4hr trend is intact until the MAs cross in the opposite direction. The MA crosses take precedence in trend change and trade direction decision making. The stoch and RSI indicators are referred to on the 4hr at the point the MAs cross, to determine whether the MA cross is a valid cowabunga trend change.
Thank you, Cowaboi.
Hi, has anyone tried using the Cowabunga system on any other pairs other than GBP/USD, and if so what results did you get?
Thanks
Shrude
Suggest you look at the thread dedicated to Cowabunga on GY
Hi everyone,
After reading this thread, I still have few questions regarding how to handle the take-profit part of a trade: 
Do you enter the trades without take-profit orders and glue yourself to the screen watching price action until you manually close the trades at the appropriate time for you?
Do you place a take-profit order when you enter the trade instead? If so, and the trade is a winner, what do you do to ride the favorable wave and collect as many PIPs as the momentum gives?
Any other things you do? If this is the case, your detailed explanation will be much appreciated.
Thank you in advance for your input.
I use multiple lots, setting sl and tp orders upon entry. Some profit is locked in at the target (as per PipSurfer’s rules) and unless there’s a ‘clean break’ of the target (price closing above/below target), the rest will be taken off. If price breaks and closes beyond the target, the rules state moving the target to the next 00 or 50 level (whichever is closest).
I will also use fib extensions for targets occasionally.
I just sold the GBP/USD at 1.9748 with a SP at 1.9760 and a Limit at 1.9720!
My reason for this is because the 4hr chart has a strong downtrend while the 15min chart showed the 5 EMA downcross the 10 EMA. Additionally the RSI just dropped below th 50 mark and the Stochastics is not oversold but dropping. The MACD is negative (barely) but has been flatly negative for some time now.
I’m new to FOREX and, if I’m reading the “rules” of the Cowabunga System I think I did just as they say to do.
Any comment/suggestions to my thinking here?
I know I’m not to get emotional about this but literally just as I clicked order the price dropped to 1.9738! It feels good to at least appear to make the correct decision. Now to let the system run its course.
Do you think I might have put my SP/Limits too tight/loose?
The long term trends are very choppy at the moment but the 1hr is crossed to the upside according to me (MT4, Interbank feed) therefore we are looking for long trades only according to the system
Interesting. I wasn’t looking to hold this too long. I would expect to be stopped out today. Maybe my stops are too wide then?
Also, I know you are looking at the 1hr chart but I’m trying to “follow the rules” as I am learning and I used the 4hr and 15min charts to draw my conclusions. I just refreshed my 15min chart as a 1hr chart and I still see the 5EMA downcrossing the 10EMA, the RSI dropping below 50, the Stoch dropping but not oversold (in fact just below overbought), and the MACD is basically flat.
What am I missing here. I think I’m not reading the charts correctly then if you see long and I see all the indications of short. Argh!
Hi Daxm,
My 4hr chart this morning tells me to look for long entries only at the moment as the MAs are crossed long. Re the MACD histogram, for shorts the bars need to be descending from the +ve side (ie from above it’s zero line), if the bars are already -ve when the 15min MA cross, then the set up is invalid.
Go to PipSurfer’s blog and click the link on the left to make sure you know his exact rules.
All the best.
Sorry daxm didnt mean to mislead you, I meant the 4H MAs are crossed long as confirmed by Cowaboi, see my chart
Thanks for the reply. I did misread the MACD reading of the rules.
We are talking about the GBP/USD chart though right? At this moment I have the 5EMA at 1.9733 and the 10EMA at 1.9739. Assuming their values were on opposite sides of each other a few moments ago, wouldn’t that indicate a downcross? I fail to see any long indications here.
Sorry for the ongoingness of my posts. I’m really trying to learn this down pat so I can see the correct trends for this system quickly (and accurately).
Must reread the rules DAXM. Trend direction is set by the 4H and confirmed with a cross in that direction on the 15 min
