So today I went through the last 150 days of trading on the Cowabunga system (Blog posts made in the "Pip My System" area of babypips). When I say 150 days of trading, I mean the last 150 posts made on the blog containing the results of the days trading. This is what I found.
****Please note this is not a total number of trades, rather a break down of all trades made in a calendar day over 150 days****
Gains - 52 days
Losses - 63 days
Break Even - 35 days
Gain Percentage - 42%
Loss Precentage (including break even, lets not forget the spread) - 48%
Loss Percentage (excluding break even) - 34.6%
Break Even percentage - (This excludes the spread, technicaly a loss) - 23.3%
Total pips gained - 2368
Total pips lost (excluding the spread) - 1606
Clearly not the best system, but something that needs to be worked on taking into account support levels, resistance points and so on. This reminds me on the OzFX system that used to be around until it turned out the guy that was posing about it was just trying to make some money off of it (which clearly isnt the case here, just a similar system).
Any ideas on how this can be improved to minimize the losses any further?
I've attacheed the spreadsheet I used to calcualte everything so everyone can have a look for them selves.