The Cowabunga System

[asyidiq73]

I see no signal when i check 23/01/2009 at 1734 for GBPUSD and furthermore the trend in H4 chart is down therefore only look for short trade… from my chart the last valid entry was on 22/01/2009 at 1145… it went down up to +140 pips

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]

@asyidiq73

I see no signal when i check 23/01/2009 at 1734 for GBPUSD and furthermore the trend in H4 chart is down therefore only look for short trade… from my chart the last valid entry was on 22/01/2009 at 1145… it went down up to +140 pips

Okay, that is odd. I am attaching a pic of my chart. I am using the cowabunga indicator, and as you can see, there are actually three triggers. And, yes, I was entering short.

Do I have something setup incorrectly?

Thanks!
Sean

[asyidiq73]

check out my chart … EMA5 (red)/ EMA10 (blue), indicator i use is Cowabunga - any pair V2 - no crossover at 1735 onwards…

@420florida

Okay, that is odd. I am attaching a pic of my chart. I am using the cowabunga indicator, and as you can see, there are actually three triggers. And, yes, I was entering short.

Do I have something setup incorrectly?

Thanks!
Sean

[asyidiq73]

is that xtick that you are using for your chart? if not please tell me what it is… looks similar to pipsurfer’s chart…

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.

[420florida]

check out my chart … EMA5 (red)/ EMA10 (blue), indicator i use is Cowabunga - any pair V2 - no crossover at 1735 onwards…

Okay, I think the indicator had a false alert (3 times). Looking at my chart very closely, there was no crossover, either. But the indicator popped three times in a row. The strange thing is, when I flipped over to the 4 hour, then flipped back to the 15 min, all 3 indicators disappeared. The one from the 22nd is still there, but the 3 from the 23rd are gone.

BUT, on my EurUsd chart, there is DEFINITELY a crossover, but the same thing happened as far as a reversal. For now I’ll stick to the GbpUsd pair and next time I am gonna wait till MA hits negative before doing an order and watch for a CLEAR crossover.

Thanks for your help!
Sean

[Dow2]

Just curious if anyone watching the screen now ? looks like a valid entry is forming in next bar.

[Dow2]

It formed, see attachment, interested how many traders are exec orders due to this now.

[420florida]

It formed, see attachment, interested how many traders are exec orders due to this now.

Looks like there is one on EurUsd, too. Seems they follow each other closely. I have an order on EurUsd and also the one on GbpUsd. Let’s see what happens. Glad others see what I am seeing this time.

Good luck!
Sean

[pipshady]

Im looking at the H4 GU chart and im curious when does the general trend change from being down to up?
Would i be correct in saying that a bottom seems to be forming and we might be looking at long trades in the NY session?
im a newbie…

[pipshady]

1315 GMT GU 15min

5 EMA about to cross 10 EMA
MACD crosses to negative
both RSI and stochastic go below 50

entry-1.38

TP-50
SL-110

[420florida]

1315 GMT GU 15min

5 EMA about to cross 10 EMA
MACD crosses to negative
both RSI and stochastic go below 50

entry-1.38

TP-50
SL-110

Looking at my chart, there was no cross. Close, but not enough.

Good luck!
Sean

[420florida]

Im looking at the H4 GU chart and im curious when does the general trend change from being down to up?
Would i be correct in saying that a bottom seems to be forming and we might be looking at long trades in the NY session?
im a newbie…

Looking at my 4 hour, it still appears it is in a downtrend. If you use the Cowabunga indicator, it is very clear what the trends are. (Thick red line on top.)

Good luck!
Sean

[420florida]

It formed, see attachment, interested how many traders are exec orders due to this now.

I took them, one on GbpUsd and the other on EurUsd. Closed them out quickly as it appeared it was going to reverse - and I was right.

Got lucky and pulled out of GbpUsd with a 20 pip profit and EurUsd with a 5 pip profit.

Cool!
Sean

[pipshady]

1800 GMT
Ok :o got stopped out on the last one but now the 5 has definatly crossed.
stot is in oversold territory though…
what to do?enter or wait to fight another day??

[420florida]

1800 GMT
Ok :o got stopped out on the last one but now the 5 has definatly crossed.
stot is in oversold territory though…
what to do?enter or wait to fight another day??

Stick to the system. Don’t trade it cuz the MA was WAY into the negative already.

Happy Trading!
Sean

[Dow2]

@pipshady

1800 GMT
Ok :o got stopped out on the last one but now the 5 has definatly crossed.
stot is in oversold territory though…
what to do?enter or wait to fight another day??

Not sure I follow, there isn’t any valid entry before 1800 GMT today.

Today GBPUSD has three valid entry, if you in those three them , together should be around 100 PIPs now. see attachment chart 15M GBPUSD Jan 26th

[r3iz]

Hey guys! i really love the Cowabunga system as it is easy to understand and execute! but i haf a question…

Can i use this system for continuation of trends? This is the rules of the Cowabunga system:
* 5 EMA must cross above the 10 EMA (Indicated on my chart by a black candle)
* RSI must be greater than 50
* Stochastics must be headed up and not in overbought territory
* MACD histogram must go from negative to positive OR be negative and start to increase value. (We want to catch trends early so the MACD histogram must be negative)

But i was wondering… if there is no crossover between the 5EMA and 10EMA. But both EMAs are still going bullish with the 5EMA above the 10EMA. And the MACD is already positive but still increasing in value.

is this a valid trade???

Or… the essence of the Cowabunga system is to trade the cable only when it swings from bearish to bullish?? Someone please enlighten me

[pipshady]

EUREKA

I finally get it…
0645 GMT 5 crosses 10 i enter long at 1.4060 and exit at 1.4160
100 pips:cool:

[pipshady]

Hey guys! i really love the Cowabunga system as it is easy to understand and execute! but i haf a question…

Can i use this system for continuation of trends? This is the rules of the Cowabunga system:
* 5 EMA must cross above the 10 EMA (Indicated on my chart by a black candle)
* RSI must be greater than 50
* Stochastics must be headed up and not in overbought territory
* MACD histogram must go from negative to positive OR be negative and start to increase value. (We want to catch trends early so the MACD histogram must be negative)

But i was wondering… if there is no crossover between the 5EMA and 10EMA. But both EMAs are still going bullish with the 5EMA above the 10EMA. And the MACD is already positive but still increasing in value.

is this a valid trade???

Or… the essence of the Cowabunga system is to trade the cable only when it swings from bearish to bullish?? Someone please enlighten me

Im new to this but from my short experience i would say you have a better chance of a win if 5 crosses 10 in the H4 then wait for the same in the 15min(subject to indicators off course)

[pipshady]

1515 GMT
perfect conditions…entered long at 1.41
collected 50 pips