Does anyone have the Cawabunga indicator for FXCM Trading Station? I believe it needs to be “Lua” file.
Thank you.
Hello,
attached you can find a screenshot of MetaTrader Mobile running on my smartphone.
Do you think that the quality of the chart and indicator lines is good enough to get valid Cowabunga entries?
Quality on my phone is even a little bit better than it is on the screenshot.
Thank you!
Hi, Are you going for a fixed TP of 30pips, instead of targets at nearest 00 or 50 levels for each trade, or just a total of 30pips for the day? Thanks
Hi Craigfx,
My broker is Fxsolution and they don’t have SL and TP. Everyday, my objectif is 30 pips with full lots ($100 per pip). I trade 2 accounts one for compounding and the other to withdraw every week.
Thanks:)
Looks good to me. Just make sure your MACD is lining up close enough to what is being shown here. 
hi cowabunga dudes and dudets?..iam a newbie and i was wondering, according to the software that you ue to trade, when the MAs cross each other, do the colours change automatically? is there a way that you can set the systems that when there is a cros-over, the candle-sticks colour change?
Can anyone provide more clarity on the clean break aspect. I have major reservations about report results by PS.
I often monitor the trades and get identical results to PS with the exception of clean breaks. Today was a prime example. At 630am BST there was a short signal. Entry was at 14964 and target 14945. At 701am the target was hit. The price made a clean break and moved to 14930 by 702am. I moved my stop down to target 14945 and by 712am the price hit 14945 meaning we would have been stopped out. PS on the other hand records a sizeable gain. He said that price made a clean break and he reset his target to 14900 which was hit.
Only last week, I was in a trade and when it hit my target, I waited to see if it passed my target and made a clean break. The price passed my target by about 2 pips and then retraced. I did not lock in profit on this occasion and I was stopped out. When I checked PS’s record, he reported getting out at near target level.
There was little difference in these 2 trades. If you lock in early you get stopped out. If you don’t lock in or close early there is a risk of it retracing. The results appear to have been reported to suit the most favourable result. I am confused.
My question is, at what point do we move the stop to lock in profit. Do we wait for a close of the candle to do this. If so, what if the target is hit by a pip or so and then it retraces before close. Do we then exit?
Wait for the close of the candle to determine a clean break. If it retraces back below your target before the close then it would not be a clean break and time to get out.
Cheers Craig
So there is absolutely no point exiting a trade before the candle closes. I.e. the price passes target at say 5 minutes into the candle and then retraces. Presumably, we let the candle ride until the end of the 15 minutes. If we are past the target at the close, we more the stop. If the price has retraced before the expiry of the candle, we take the hit and exit on the close of the candle.
I see that Pip Surfer recorded a profit on the 315 GMT trade. I can’t see why he put his target at the 50 level. On all other trades (which I have logged) anything less than 20 pips and he goes for the same amount as he has risked. More than 20 and he sets to the nearest 50 or 00 level.
I have been back and tracked all trades since the system was reported. A £5000 account over 2.5 years would have yielded £433,000 trading 2.5% of the account each trade and compounding. I was able to log the trades specifically as per xtick for the last 6 months I believe. Otherwise I was relying on Pip Surfers report. I am a little concerned now how accurate they are since there is inconsistency about how he reports a clean break and setting his profit targets.
I haven’t been watching this system very long, since last week and I am very new to all of this. But to answer your question, it seems to me that he lets most of his trades stop out.
It would be nice to watch the live trade as he does it, not a reproduced walkthru, once in a while. (Not complaining at all, I totally appreciate the work that has gone into this system, it is awesome.)
One another note, I struggle with switching from long - short trades on the 15 minute before the 4hr Candle has formed showing a crossover. This week has been a good example of this where all the profit is to be made on long trades, even though the 4hr candle is still showing short trades.
But as Pipsurfer would say, tomorrow’s another trade.
I am wondering if anyone is actually trading this system and able to get the same results as PipSurfer?
Just testing the system both manually and the EA simultaneously on 2 different charts and want to check something about entry points. On Friday the EMAs crossed at the start of the 15.45 (gmt) bar, I received my email (buy trigger) alert at 15.45, and the blue buy Arrow appears above the candle. So I entered the trade now (15.50 gmt) but noticed the EA on the other chart didn’t open trade until this candle closed at 16.00. Did I enter too early and should wait for the signal candle to close or did the EA open too late? Both successful trades but I made 15 more pips manual than the EA because I entered a bar earlier, I have had a look through the rules and some pages of this thread but there is no mention of waiting for the signal candle to close before entering?
Hi PipSmash, The official entry per rules of the system was at 16:00 GMT i.e. you wait until the candle is closed to ensure that the signal is still valid at the close of the candle.
Ok that makes sense, thanks
does this really work?
This system would work with any currency as long as there is a trend in progress.
- The Forex Oracle
So does the system really work with all currencies? If so why dont we broaden our approach to include alle the major pairs? It would seem that that would give us a whole lot more trading opportunities then just focusing on gbp/usd. Seeing as its a pretty basic and simple system it shouldnt be a problem monitoring several currencies. Am I totally off here?
hi, i am starting to follow the cowabunga system just so i can shadow how a simple system works, so i would like to know how to colour my candles when the emas cross. is this possible with mt4??
also, i would like to have signals/notifications/alarms sent to my iphone, is this possible? and if so can someone guide me through the process or point me to any threads on this finest of forex sites, cheers
elguapo
Well it is not easy my friend. I subscribe to Xtick to completely replicate pip surfer. The candles automatically paint to confirm the signal. I am not sure if you can do it in MT4.
As for signals to your mobile. I had so much trouble trying to get it to work. I am on an O2 network in the UK and I could not get an alert cost effectively. The O2 email to SMS gateway did not work and if it did I would pay 15 pence per sms.
In the end I found aql.com
They sorted it out and the moment I get an alert I get an immediate SMS. You have to buy credits and it works out at around £20 for 200 message credits.
With xtick, SMS and mobile broadband, I am paying around £85 a month but when the system takes off again, it will be well worth it (I hope)
So i have been catching up on this forum over the past week or two even though i have already been trading this system for a couple months and i noticed someone suggest using iOsMa 12,26,9 instead of iMACD 12,26,9 on MT4? Is this correct should i be using OSMA.