The Cowabunga System

Hotdog · January 12, 2009, 2:40pm

Hello,

I entered two times in the market last night Jan 11. First time at 20:00 PST and second time at 22:30 PST.

I would like to know if someone else got these trades with the Cowabunga system. Were they valid entries?

SELL GBP/USD 1.5081
SELL GBP/USD 1.5069

Diggity18 · January 13, 2009, 4:32am

I think everyone should come on here and communicate what trades they have entered just like above.

I entered the second trade and got stopped out for a loss of 43 pips. I wasnt at my computer at the time however because if i was i would have caught the big run that occured an hour later. The second one was definatly are correct trade.

As for your first trade, my stochastics were almost in a straight line so i didnt take the trade.

bulkbiz · January 15, 2009, 11:31am

Thanks for sharing, but I don’t let robot trade for me. I trade with my brain:)

chamane · January 15, 2009, 4:04pm

Hi all,

I know there are traders using [B]5ema close/8ema open[/B]:

It seems to generate signals 1 candle before the 5/10 ema crossover in many cases. Wouldn’t it better to use it in Cowabonga instead as long as the other conditions are still met?

Also, it would be nice to add to the Cowabonga template the 80/160 ema crossover to the 15 minute chart. They represent the 5/10 ema crossover of the 4 hr chart. It gives a more complete description of the situation trendwise.

Regards.

Chamane:)

Steve_Robinson · January 16, 2009, 8:16pm

Hi Chamane,

I am learning how to use the main indicators in FX trading, What Cowabonga is?

Thanks for your help!

bulkbiz · January 16, 2009, 8:38pm

Obviously this fellow did not read before posting. If you are newbie, please go to Forex Trading: Online Currency Trading in the Foreign Exchange Market, click on “school” tab and start learning.

chamane · January 17, 2009, 8:58pm

To help filteirng out bad trades, just add PSAR (0.03, 0.6) to the 15 min chart. That indicator alone should bring home some good pips if used only in the same direction of the 4hr EMA crossover. Also, be sure that the Bollinger bands (20, 0.2) are outside the Keltner Channel Bands (20, 1.5), thus indicating a trending market. A range market generates often bad whipsaws and a waste of time.

I know it is not advisable to change the original system, this one seems to work pretty well. But I am going to try Cowabunga for real starting this next week and I want to make sure all probabilities are on my side. Hope it helps.

Chamane:)

bulkbiz · January 17, 2009, 9:26pm

Thanks Chamane, make sure you post ur result here. Thax for sharing anyway.

r3iz · January 21, 2009, 12:16pm

Hey guys! i am new to this forum and i am very excited when i learnt about the cowabunga system!

Ive paid $$ to learn from classes out there but this system totally makes the whole trading system alot easier to understand and execute!

However i do have a problem… i cant seem to set my MACD settings to be the same as urs… mine only has 1 line … i am using MT4 and ive been playing arnd with the settings for MACD but i don’t seem to be able to set the same as you guys. Can anyone help me out here?

As of writing this post i short the cable according to the steps taught in the cowabunga system and made 38pips!!

great site, great place for everyone to learn!

DZMouloudia · January 22, 2009, 10:35am

If you are using the MT4 dont use the MACD, go to insert, Indicators, custom and pick OsMA this indicator is the real MACD.

r3iz · January 22, 2009, 10:39am

Hi! thanks for replying! but after i inserted the osMA. It only shows the bars and there are no moving averages at all?

r3iz · January 22, 2009, 10:42am

Sorry… just want to clarify about clean break. We should put a target profit on every trade right? so that when it hits our target we will automatically sell it off and lock in our profits right?

So… when clean break occurs… how are you still able to re-adjust your stop losses and profit targets? if by then the lot should have already been ‘sold’ away because of the auto profit target?

DZMouloudia · January 22, 2009, 10:43am

I did not have that problem, try to reinstall them again.

DZMouloudia · January 22, 2009, 10:47am

I am trying to use this system to trade all day, any suggestions about additional indicators that can be used after 12pm to help find new entry points after 12 pm or should i stick to the original indicators of the system.

r3iz · January 22, 2009, 10:55am

still doesnt work…

DZMouloudia · January 22, 2009, 11:21am

[QUOTE=r3iz;86529]still doesnt work… :([/QUOTE

did you try to close the application, an reopen it after that

420florida · January 23, 2009, 1:35pm

Okay, this is my first day trying this system, and so far I am 2 losses out of 2 trades. I am not sure what I am doing wrong?

Here’s my results:
GMT: 15:29 in / 17:19 out
EURUSD - Short - Entry: 1.2809 / SL: 1.2885 / TP: 1.2750
Stopped out: LOST 76 Pips

GMT: 17:34 in / 18:22 out
GBPUSD - Short - Entry: 1.3677 / SL: 1.3729 / TP: 1.3625
Stopped out: LOST 53 Pips

Did anybody see these setups and not take them? Why?

Any help is greatly appreciated!
Thanks!
Sean

420florida · January 23, 2009, 2:38pm

Okay, I have went over and over these trades to see if I can find my mistakes. From what I can tell, I should of waited until the MA went negative. Even though it was going lower, it never did go negative in either trade. If I would of waited for a negative, I wouldn’t of entered either trade.

Is that a correct assumption? Any comments?
Thanks!
Sean

Dow2 · January 24, 2009, 5:09am

420florida , There isn’a valid entry at 23 Jan, 2009. the last valid one was GMT 9:45 22th Jan. Are you using a indicator ?

sam111 · January 24, 2009, 6:05am

Friend thanks for the information you have given it will help me to work on MT4.