Im using Marketscope 2.0 has there been a EA or signal created for it to tell me when to trade?
Thanks
Iām a noob just like you, so please take all of what I have to say with a grain of salt. I was having trouble making this system profitable too, but now Iām starting to see charts a little differently.
Take a look at this image I have attachedā¦ itās of the current EURUSD pair where it is right now. All of the pink down arrows are sell indicators provided by Cowabunga.
The first arrow I circled is a trade that I wouldnāt have entered on (and this isnāt just looking in hindsight). To know why, look below on the MACD histogram; it looks like itās in a period of consolidation, and continues to be even after the sell indicator for over an hour.
The second sell indicator I circled is one that I planned on entering before I got busy with other things. Actually, Cowabunga triggered a sale earlier without the complete crossover, but the indicator went away following the close of the candle. I was planning on selling the pair following a MACD crossover and sure enough, another Cowabunga sell indicator came up following the crossover.
Just looking at the chart, it looks like now would be a good time to close the sale. If you look at where I put the āVā, you can see two hammers, which is a good indication that the pair is running out of sellers. Knowing me, I probably wouldāve told it to take profit around 1.2266 a little higher up on the chart, but oh well, itās still a win.
Again, Iām just a hobbyist like you trying share what has been working for me, so take it with a grain of salt. Hopefully some more experienced traders can analyze this more deeply.
Hi
Can any one guide me whats the EMA 5 and EMA 10, i am actually setting all the settings given in the cowabunga system, unable to set the moving averageā¦ what should be the numberings of EMAāS and whats 5 EMA & 10 EMA
Hi forexpipsindia,
On your charting software you should have an Indicator menu. Within that menu you can insert an EMA. It should ask you for the amount of periods you want it to calculate so for the first one you put in 5 and then you insert a second EMA and put in 10. (give them different colours so you donāt get confused 
)
What charting software are you using?
Im using the FXCM and Marketscope 2.0 software. I believe thats what the op uses in the youtube videos (which are amazing)
I was wondering, in the vid you use a signal which changes the colour of a candle to tell you when the EMA lines cross. I cant find anyway in marketscope to add this is. How to i load the same signal onto marketscope? It would just make it so much easier to see trend changes
Hi ,
Yups i got it
Thanks
Hello Everyone, Iām new to this site and just recently been backtesting this system. I have some results from my MT4 platform but Iām not sure how to read some of it. If you look at the attached picture of my results could someone tell me if this is good results. I tested this system from May 7th to May 28th and got a profit of $1105 with an initial $1000. I know the risk reward isnāt very good here but Iām more curious on what the DrawDown means and some of the other percentages if they are good or not. Iām not sure what traders are looking for in a system when it comes to percentages. Whatās good and whats bad. If someone could look at these results and clear up some of these things I would be much appreciated. Thanks
I have been trading this system for two weeks as well and i am loosing as well.
I think the system is profitable but for a beginner its not, for this reason its important to trade it demo, to get experience.
If you like we can compare our trades her in this forum. I am from Autria
UTC +2 hours i try to trade this system 8.00am to 18.00pm Austrian time, this includes London open and US/London session.
Hi Dan89
I started with this a few years ago, its good to look at a bigger time frame for directions.
The MA used in here is not the greatest, try this out.
Place a 200EMA on 4hour, then look for bucking of the EMA on 15min, then look for possible entries. You can use pivots, or my favourite the 1-2-3 reversals.
Cheers
Made +97 pips today
Entry short at 1,4502
Exit at 1,4405
after price breaks the 00 level i trailed the stop at 1.4405. little later price hit my sl.
Cowabunga 08.06.bmp (833 KB)
Hey guys I have been trading the cowabunga system for a while but my schedule is changing and I am not up from midnigh anymore so I need to have alerts sent to my phone.
OK here is the problem I am using the Cowabunga any pair V2 and I seem to have the emails set up well
My mt4 goes to my GMX account which is fwd to my gmail account which is then sent to my phone. (
I believe the snafu is in my mt4 sending an email cause andytime I get an email I get an alert I just dont always get emailsā¦)
However I have no patterns to when I have alerts sentā¦I reload the indicator I shut down and restart my MT4ā¦what is the secret to getting regular scheduled email alerts
Hopefully what I am talking about makes sense to someone cause I am pulling out my hair after missing the 90+pips today
thank you in advance
Trade from today: +43 pips
long @1,4599, sl@1,4558, target @1,4650, closed trade @1,4642
This trade was scary, cause i am not sure if i am correct with macd in this trade, because he was already positiv but increased value? should it be from negativ to positiv or is it ok positiv an increasing value for long?
any way +43 pips i am happy with that. since candle didnt break the 50 level i closed the trade manual with next candle.
No it was not a valid entry. Glad it worked out for you though. The macd needs to be negative and heading positive or neutral and just turn positive for a long entry and the opposite for a short.
Thereās a lot of information there.
long @1.4747, sl 1.4680, TP 1.4787 --> +40 Pips
i waited for a short retracment since the candle before valid signal looked like a pinbar.
Price didnt break the 00 level in first attempt so i closed the trade manual.
Ybop01, thank you for posting the indicator. Iāve downloaded it and put it in my MT4 but would you please give a step by step from there?
Jabba1:
Read the link in pipsurferās daily blog that says read this first and that will explain how to trade the indicator
Hi folks:
Just a quick question, is there anyone who is consistently profitable with this system, outside of Pipsurfer of course? Iāve had trouble with this system for the last six months, basically break even, and was wondering if anyone has had success. Also, do any of the indicators work, or are we better off just eyeballing the charts? Thanks for your time and good luck everyone.
Jim
Ive been backtesting this system and it is profitable most weeks. I did change one thing though. For every trade i had a stop loss of 20pips and target of 20pips.
Ive been looking at using this system on the GBP/JPY, its getting better results in back testing but im going to demo it next week to see.
Hi Mercia:
Thanks for the quick reply. Are you using any kind of indicator or just eyeballing the charts, thanks for your help.
Jim