Currently its 6:30 pm AESDT and there is a cross down on the 15min GBP chart. Just waiting on a cross upwards and we will have a trading opportunity hopefully.
7:30pm AESDT 15min EMA cross up. MACD was negative and gaining value, stochastic moving upwards and rsi above 50. A valid trade.
Entry 1.4266
Stop 1.4209
Limit 1 1.4300
Limit was hit but there was no clean break.
Result: +36pips
Cool, same here.
Hi,
Tough day it seems. The last three trades shown on the attached file were all losers. The arrows are given by the Cowabunga - any pair indicator, specially the first and last one of the three with a last swing low way down and so the stop loss. What do you think? What is the best way to manage those situations?
Chamane:confused:
Hi,
Based on your trade, with SL=57pips and P=34pips; your reward ratio=34/57 or 0.60. Thus unless your winning to losing ratio is very good - at least 1.66 to be break even. Pls advise!
Regards,
Toyogo
The 1st one of the last 3 trades was a winnign trade (see cowabunga system) and took 10 pips or so.
The 2nd trade is not a valid trade as its when a news candle is coming out so you dont trade.
The 3rd one I think is outside the recommended trading period.
If you follow the system to the letter, you will win more than you lose, and some of those winning trades will be very profitable. If you go back and read all the daily updates for January 09 you will see the Pip Surfer has over +200 pips in the bank. So all though the win/loss ratio will be low sometimes, if you trade consitently and follow the rules you too will have positive pips.
Not a bad january for pip surfer in 09. January 08 saw pip surfer with positive +100 pips while January 07 had pip surfer up +400pips.
Diggity18,
Thanks. For the first trade, a profit of 10 pips is not much considering the low risk to reward ratio. I usually put my stop loss to the last swing high/low and with the 00 50 levels, it often brings me at least 25 pips.
For the second one, I forgot to watch the news. My fault. For the third one, it is recommended to trade from 2 am ET to 11-12 am or so. So I would conclude it is NOT recommended to trade other time?
Chamane
Last three trade,
1, first trade you are right, itâs a loss trade.
2, second trade, itâs new bar, should not entry. look the news section of this website please.
3, the last trade, it already passed 21:00 GMT, no trade after 21:00 GMT before 5:00 GMT.
so you could save at least two loss here .
First of all hi everybody, first post here but hopefull it wonât be the last! 
So I have been trying Cowabungaâs system for a couple of weeks now and it seems quite promising, however I would like your opinion in order to tweak the system. My main problem so far is that my average number of pips in my wins and my losses are about the same (between 20 and 30 pips most times). Seeing the stats that Cowabunga provided I saw that the average pips he gets on his winning trades is quite higher than his average losses, but with the guidelines provided (setting stop losses at the most recent swing high/low) I find that the losses can be quite significant. On the other hand, I cannot seem to raise the average pips I obtain on my winning trades, so with a 1 to 1 reward to risk ratio, I am finding myself basically breaking even with this system so far.
So I would really appreciate if any of you guys has any advice on how to either increase the average number of pips on the winning trades or reducing that figure on the losing ones, if you use any specific method or just stick to the rules 100%.
Thanks a lot!
Tenshi28, thank you for sharing your experience.
let me share experience with the back testing with EA. Note, I code the EA myself, and already make sure the EA use exact entry as the blog does. only trade between GMT 5 and GMT 21.
Back testing with a EA base on this system, the EA does not know news bar. the rest are stricutly follow the rule 100%, inlcuding SL and SP. Cross Break and Moving SP.
The result
2008-2009 is around -76 pips. 397 trade
2007-2008 is around -900 pips. 373 trade
Compare to the blog record, looks like the news bar impact a lot , if my EAâs extra trade are all news bar.
1215 GMT
Perfect conditions,
entered long at 1.44 and collected 50 pips there being no clear break in priceâŚ
Hi guys, did anyone trade the 11AM ET candle yesterday? (Monday 9th Feb).
Cheers.
hi guys ive been trying my hands on the forex for a while and have been learning and putting the cowabunga into practice with my live account. so far so good. i have slowly increased my portfolio with minimum loss with tight stop losses. i sometimes feel greedy to win big money fast by placing 10pips a point, but ive learnt quickly that that i once blown my account (and its not a good feeling) so now i stick to 50p/�1 a point, as a learning curve till im confident.
My question was being new to the forex market, ive noticed that if you apply the same rules for the 4 hour/ 15min chart to the 10min/1min chart, you to tend to get lot more valid long and short entrys point. they all follow the same parameters for the 5/10 MA, RSI and MACD. would this be not a good wayto make more quicker profits. i may sound silly, but just wanted to kow if anyone of you more experienced traders noticed this and actually place trades.
Hey, can someone help me get started with the cowabunga ea in MT4? Iâm new to metatrader, and wanted to try it out there to see if i like it. Iâve seen a few different .zip files, and am not sure which to DL and what to do with them. Can i get a little help!?
I havenât tried the system in the 10m/1m timeframe but just by definition you will get a lot more entry signals, however you will also get a ton of false signals. I am using the normal 4h/15m and I already feel the 15m timeframe is way too volatile sometimes, I cannot even imagine with the 1m frame! youâre probably having the 5EMA and the 10EMA lines crossing in different directions every 10 seconds or so!
If it works for you Iâd say go ahead, but it does sound a bit too risky for me to be profitable in the long run.
Hi guys,
what is the last time when I can take trade according to Pip surfer rules? 14:00 pm ET?
HI Guys
I have been following the Cowabunga system and this forum silently in the background for some time.
Kudos to pipsurfer for a job well done.
There is still a very important question still not answered, in regards to MACD and OSMA.
Let me use the most recent exmapleâŚ
According to pipsurfers daily report for 17th January 2009, he enters at 00:15 for a profitable trade. You can see on his screenshot that he is using the MACD of MT4. As we all know MACD of MT4 is buggy and doesnt show correct detail.
Furthermore, OSMA (the preferred) shows [U][B]already in the negative and already heading done[/B][/U]. This would have resulted in [U][B]DO NOT ENTER[/B][/U].
So which is it?
Pipsurfer he is still using the MACD of MT4 but we here on the forum follow OSMA??
We need to clairify this because there are far too many signals that show positive on MACD really a negative signal on OSMA.
Looking forward to your replies
Regards,
Topspy007
He does not use MT4 period and OsMA is not the same as MACD on other platforms
Tony is correct. Pipsurferâs charts are not MT4. When I originally posted the discovery that MT4 users must use OsMA (not MACD), Pipsurfer was using the broker FXCM and X-Tick charting software. I presume that he still uses the same.
The reason that some people find OsMA does not always match Pipsurferâs MACD is that those people are using a different broker to Pipsurfer (hence with slightly different price feeds). It doesnât really matter, I just follow the signals that I get on my broker, most are the same as Pipsurferâs signals but a few signals he gets but I donât, or I get but he doesnât. In the long run it all works out.
Regards,
Pipalot