The Cowabunga System

Trading Systems Free Forex Trading Systems
693

Does anyone know if PipSurfer uses just the ema crossover on the 4 hr to determine a trend change, or does the candle change color because of the cross and then he looks to see if the other indicators change. Also, has anyone found a way other than X-tick to have candles change color or some other notification in MT4. thanks

Jim

694

Any system will fail if you have lack of discipline in using it. Every traders are looking for precision and most often they are trying hard to seek the right time when the market will move. Unfortunately time always tell nobody knows exactly when the market move until today.

695

Hi everybody,

I am completely new to the trading and I have been trying to practice cowabunga system.

Last week Instead of EMA indicators I have accidently used DEMA (doubleEMA) and while I was looking at the todays video I have realized that my main trend direction was long and his main trend was Short.

Now I am a little puzzled.

Shall I stay with DEMA or should I switch it to EMA?

THANKS
and happy trades…

P.S:The DEMA indicator seems to give good indication as well but it contradicts with the main trend of the creator of this system which worries me a little bit.

696

Hello!

I have attached my FIRST screenshot of my FIRST time testing the Cowabunga system! WOW! This thing is awesome!

I have circled the entry points in red and the exit points following in blue. Great system!

The exit points were created by when the Stoch lines began to change direction.

Cowabunga.jpg700×438 70.5 KB

697

Well if there can only be one person in this forum that deserves to be named the sexiest member and at the same time seems to have some good advises and an effective trading system, you have to be a god around here. Just kidding. Now my actual question here is about the alarm system, that seems to be for day traders like me, one of the most important benefits anybody can get with cowabunga trading system Xtick, but what happens as ybop said if you don�t get to check the alarm on time?, Does it mean you are screwed?. I also want to ask about the difference between Xtick and MT4 in terms of trading. Have a good one!!!

698

Hi everyone, I am interested in this trading system. I just opened a small Micro account to trade this system only. I have a question regarding it, does the system usually have a huge risk to reward ratio??? I noticed that on certain trades, we start by risking about 50 to 100+ pips to gain 30 or more.

Thanks
Chady

699

Hi Chady,

The system usually has more reward than risk, but because of the current economic condition the markets are a little funny right now. Remember you don’t have to take every trade that the system offers you. If the ratio is out of wack you can always skip that trade and wait for the next.

If you look on Pip Surfer’s blog he has stats for all of his trades in 2007 and the first half of 2008. They list the average win and loss for each month. In 2007 the average win was 46 and average loss was 25, which is a little less than a 2:1 win/loss ratio.

Phil

700

I see, that is very true, it just seems odd to risk 200 pips to gain 26ish pips on thursdays trade. I will begin trading the system later tonight but I believe I wil avoid any high risk situation such as last thursdays trade. Thanks for the advice by the way :slight_smile:

701

Hello Phil,

Here you described about Cowabunga trading system. Here you have told about pips with same pips i am trading with AVAFX then what is different between Cowabuga and AVAFX.

702

Martin,

I think the problem is that you’re confused about what Cowabunga is. It’s a trading system that helps tell you when to enter and exit trades. You can learn about it by clicking BLOGS at the top of the page and reading Pip Surfer’s “Pip my System” blog.

AVAFX is a forex broker, and you should be able to trade the Cowabunga system using their platform just fine.

Hope that helps. Let me know if you still have questions.

703

Hello Friend,

I have been with forex market since 2004, but due to some family reasons i was away from the market. Now again i am willing to enter this market. I have been searching on the net for various forex brokers. I found broker with whom i was trading before with so many changes i could not believe it. I have also seen the brokers also with so many changes.

Friend you have told here about (Pip My System) what is it please educate me more about it. At my beginning stages i was only working with my broker and nothing else and made my own trading strategies. I used my AVAFX broker only for trading and didn’t search any thing about forex. After coming back to this market i have found this market changed.

704

Thanks for the awesome Blog and system Bigpippin! I am a newbie and have been enjoying trying out your system for the last week.

I have one question if anyone can help: when we are looking to exit a short trade, for instance, do we just look at the RSI and crossover readings after the candle closes? Or do we exit if the RSI is over 50 (or EMAs recross) at any time during the candle?

Thanks again for your great help and ideas!

705

I have one question if anyone can help: when we are looking to exit a short trade, for instance, do we just look at the RSI and crossover readings after the candle closes? Or do we exit if the RSI is over 50 (or EMAs recross) at any time during the candle?

For exits you usually look for the next price level ending in 00 or 50. For example, if you went short at 1.2083 your exit would be at 1.2050. The exception to this is if the next 00 or 50 is only a few pips away from your entry, in that case you go for the same amount of pips as you’re risking.

706

Thanks for your reply Phil.

So are we not concerned about looking at out indicators at all to exit? Does this mean we remain in our trade until either a stop or limit is hit, regardless of RSI, stoch and MACD?

Thanks again.

707

GBP/USD

I have taken a long trade at 11:30 GMT using cowabunga system.

Got in at 15033, stop loss at 14955, target at 15055.

Anyone else taken this trade?

EDIT: I just realised I should’t have taken this trade as it is out of the recommended trading hours! I am trading in GMT+10, need to remember to keep an eye on the clock!

708

I took this trade. I think it was a valid trade. Are you trading from australia (GMT +10). Im trading from australia and entered the trade here at 11:30pm. Which is half hour before the american market opens so it meets the cowabunga time frame.

If im wrong please let me know

709

EMAs recrossed at 13:15 GMT so I exited the trade at 15001: -32 Pips

Hi diggity, I am trading from Melbourne. As I understand it, the cowabunga system is traded between 1am and 4pm ET which I believe is 5am to 9pm AEST(Melb)?

Please correct me if I’m wrong!

710

The trading time is 5:00pm to 9:00am. 5:00pm is when euro opens, so he trades through euro / Pound / America.

711

Thanks for clearing that up for me.

712

For the cowabunga system do we set the Stoch limits for overbought and oversold conditions to 70 and 30 respectively? Or is it 80 and 20?

Also, to consider a position overbought or oversold, do both Stoch lines need to be in these areas or does one line in overbought/over sold territory make an entry invalid?

Thanks!