The Cowabunga System

Trading Systems Free Forex Trading Systems
1249

Cool, just tried this on GBPUSD and got 28 pips. It’s still downtrend, can I enter again on the second cross?

1250

I have done quite a bit of research, and trade options. I started doing average crossover trades…and found them to be quite profitable. Is there a link or a forum post I missed that clearly explains the Cowabunga System?
Spud

1251

Go to the Blogs tab at the top, then “Pip My System” on the left side of the screen. Scroll down and click on “read this first”

Here is the link

So You’ve Finished The School Of Pipsology…Now What? | Forex Blog: Pip My System

1252

Thank you!

1271

Hi all,

Currently going through past blogs from the start of the year, testing the system for myself and seem to be getting some differences when it comes to the main trend for the day.

On this system it seems to hinge on a trend change candle, is there a pacific type of candle used in this system? Or is it any candle which is typically perceived as a trend change candle?

Thanks in advance

1272

When the 5 EMA crosses above or below the 10 ema on the 4 hour chart. If the 5 ema is above the 10, trend is up, if it is below, trend is down.

1273

Thanks Pete

1274

Hi All

I haven’t looked thru the entire forum so this may have been covered.

Rather than closing a trade 15 mins before “news” wouldn’t it be valid to move the stop loss close in to the level just before the news is released, thus giving you a 50% chance of picking up the windfall if the news goes your way. Worst case would be that you stop out on the reversal. You still have the initial profit.

Comments??

Peter

1275

Hi,

I imagine the issue with this is that if the news goes against you, there is no guarantee your stop loss would fill without slippage, resulting in lost pips. I would imagine any alterations to the system would need thoroughly tested to see if they adversely affect the system’s profitability?

Cheers

1276

Hi!

I am sorry I haven’t read all the 120 pages of this thread. Here are some basic questions to the original system:

  • What is your average risk/reward ratio?

  • What is your average win to lose ratio?

  • How many trades do you usually take in a week?

  • For how long an average trade is open?

  • Is there any exit strategy? I didn’t find it on the School’s page.

  • Do you use a 30 pip stop loss for all pairs?

  • Do you trade all possible pairs which are available on your broker’s platform or only a few selected ones?

That’s all! :slight_smile:

1277

Come on now, you’re not really trying…

Most of these questions can be answered by looking at the original rules of the system and seeing a few random vids at the pip my system blog.

1278

Not bad at all. I wish there was a thanks button. But I’m going to try this out on my play account, I’m pretty excited to finally get into it.

1279

thanks for the new post

1280

Yeppie!!! Got my first pips from Cowbunga…I’m going to continue testing on demo before going live in October.

1282

thanks for the new post

1283

Hi all,

Just a quick question to try and guage some opinion, or even to find out if there is a definitive answer:

When before a news event, is it deemed too late to get into a new trade? At the minute I will not enter a new trade if the indicators line up an hour beforehand. Is anybody taking longer or shorter than this?

Thanks

1284

I read the school and read the FAQ on the blog. I still have the above questions because I haven’t found a definite answer.

It would be cool if someone so familiar with the system would summarize these point on here.

1285

1- With this system it completely varies but normally isn’t very high
2- Again varies from month to months to yearly- check out his profile on meetpips.com to see his ratio over different time periods
3- I would say roughly 1-2 trades a day
4- Normally couple/few hours
5- Exit strategy is on the FAQ section- the 00 and 50s level or the same pips as SL
6- no
7- no

I don’t think you’ve properly read and understand the system as a few of the questions are answered explicitly on the FAQ or ‘things to read before you start’ sections.

Cheers

1286

@WildChancer
Thanks for the correct summary man.

@piptarts
You are right, I haven’t dug myself so deeply into Cowabunga yet… I am actually in the process of finding my true style here.

1288

Trying to put the cowabunga files onto my mt4 software is a nightmare, can anyone run me through the process ?? cheers people