The Cowabunga System

domdom · May 31, 2013, 9:31am

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domdom · May 31, 2013, 9:32am

Are you “the Thomas” friends of (skovtroldene)

Matthgm · June 10, 2013, 3:23am

Hi Elroch - I realise this is a while after your original post (2008) but I wondered if you still had a copy of the Ensign template for the Cowabunga strategy. Unfortunately (and understandably given the time passed!!) the link to the template no longer works.

I’m just starting out and have built one myself but it doesn’t include all the features that you have included, it would be greatly appreciated if you still had a copy available.

Many Thanks

Matthgm · June 12, 2013, 3:13pm

Is anyone actively using this strategy? I’m starting to and wouldn’t mind bouncing some ideas around during the course of the day. I’ve only placed a few trades in the last week (patiently waiting for the right signals) but it seems to be going well: -

7th June -6.8 pips (closed early ahead of news)
7th June +14.3 pips
10th June +13.4 pips
10th June + 18.4 pips
12th June + 32.6 pips

SmallersCY · June 12, 2013, 4:34pm

Hi Matt, I am using this strategy, and I am a rank novice trader - its my first demo day officially but I’ve been studying for about 2 months and just watching the market.
For what its worth, when I waited for ALL of the criteria to be covered, I nailed my +20 pips targets. When I ignored one or more criteria, just to see how they would play out, covered other markets than the GBPUSD and the like, they failed or didn’t quite make it to the target TP so I just exited manually as its time for bed. They are actually fairly rare to have all of the criteria covered, usually its been MACD not there or RSI ranging at 50 rather than less or more.

gsbharaj · June 12, 2013, 5:07pm

guys i use oanda broker. where can i find Stochastic (10,3,3) (Use slow and simple settings)?

there are only stochastic rsi, full stochastic, full stochastic and full stochastic. so which one to use?

Matthgm · June 13, 2013, 1:52am

Hi Smallers, thanks for the reply. I’m training it on a live account with small sizes to keep my interest. I struggle with trading on a demo account so prefer to trade small sizes live than demo.

I’ve found the target areas defined in the system (00 & 50) to be pretty solid in terms of resistance, so am comfortable using them as TP (rather than a fixed amount of pips) as long as there’s at least a 1:1 risk / reward ratio.

So far I would say I’m getting between 0 and 3 valid entry points a day using the full criteria defined in the system, which makes it easy to keep an eye on, especially as you can see the trade potentially setting up from a while beforehand.

There’s a couple of things I’d like to do with this strategy: -

Build me journal to about 30 trades and look back at them to see if I could adapt in anyway to enhance my returns.
Understand what it is about GBP/USD that makes this system successful and see if there are other markets this could apply to (forex, indices, commodities)

Happy to share ideas and research as I go forward.

Just for info I’m also looking at the ‘3 ducks’ and the ‘Trend Runner’ strategies but I’m further forward with this one. I’m also a newbie to day trading after spending the last year successfully as a boy and hold investor

SmallersCY · June 13, 2013, 8:50am

I am a novice here but what I think makes the GBP and USD such a solid pair for this system is that they are rarely ranging. Now why the USDCHF or USDEUR wouldn’t work similarly I don’t know. I’ve had two good successes with the AUDUSD with the same criteria.

What time frame are you trading it on? I have had a big wins on the 4h frame but a good amount of people said it flat out doesn’t work in the long run on the higher frames.

One thing I have noticed is that you have to cover ALL the criteria, especially the ongoing trend. If something is lacking it bites you in the ass even if it looks good. And when the criteria are ALL being covered, the move happens FAST.

Matthgm · June 13, 2013, 4:43pm

I’m using the 4h for trend identification and 15m for entry.

I set up some screens to watch the Dax and see how it reacts in comparison, and also wonder if gold is worth a look at.

guardian09 · June 19, 2013, 4:07am

Hi all,

I’m not sure if this has been answered before. But I am new to this system and would like to clarify one thing.

On the 4H chart, what defines it as a trend?eg for an uptrend, the general “big picture” of the prices going up? or just by looking at the 5EMA being above the 10EMA? and contrary for the downtrend.

Hope my query has been phrased understandably.

thanks in advance for advice! =)

Matthgm · June 19, 2013, 6:30pm

[QUOTE=“guardian09;501565”]
On the 4H chart, what defines it as a trend?eg for an uptrend, the general “big picture” of the prices going up? or just by looking at the 5EMA being above the 10EMA? and contrary for the downtrend.
[/QUOTE]

Yes, my understanding is 5ema above/below 10ema. Not sure why the other indicators are added to the 4h chart

I have a question related to the entry chart. Do you wait for the entry candle to close to confirm the indicators are in line or do you enter on advance of that

guardian09 · June 20, 2013, 12:13am

Thanks for your reply.

For me, I would enter after the candle close to confirm. There are quite a few instances when I enter in advance, the lines did not cross in the end. Although it appears to have crossed.

mistermappy · August 23, 2013, 10:13pm

Hey guys,

How is your experience in using the Cowabunga system? What times and pairs worked for you? Happy trading!

force199 · September 17, 2013, 3:23pm

Personally Cowabunga didn’t work for me, but I tried it last year, and with all systems the effectiveness depends on market volatility at time, so it might be working again.

I am now trying out forex trade copy from this signal provider.

Home

So far I’ve made about £150 in two weeks, which is more than I’ve made with other systems.

Hopefully it will keep on going like this as other systems have let me down.

srhn · September 22, 2013, 8:18am

Hi gays,

First of all, I must appreciate all of you for yours constructive posts in this and other forums which are related to this system. Also, I say my spatial thanks to Big Pippin and Pip Surfer for sharing the Cowabunga system.

I have prepared an EA according to the idea which is firstly introduced by ybop01. It is for MT4 platform and contain nearly all system rules except which are related to news and clean break. It also used modified MACD which is same as original one.

I have checked accordance of its signals to Pip Surfer Daily Update for last several months and found those were nearly 100% as same as each others. The picture below is a snapshot of its signals at 2013.9.11, which could be compared with Pip Surfer Daily Update (Cowabunga System Daily Update: Wednesday, 09/11/2013). (Time is GMT)

Finally, I feel that all of you, who guide me with their posts or indicators, have contribution in it. Therefore, I decide to share it with you after more test and adjustment during following month. So I’m looking forward eagerly for your idea and suggestion for EA initial version:60:

Beast wishes,
SRHN

Fxjst · September 23, 2013, 11:18am

Is it possible to trade the cowabunga system using the daily chart and weekly chart?

srhn · September 25, 2013, 5:29am

Hi,

Woowwoo,I have notice that my EA, which is still in testing period, send a valid and profitable signal at 8am GMT (4am EST) 09/24/2013 which Pip Surfer didn’t get it (Cowabunga System Daily Update: Tuesday, 09/24/2013). Hear it is:

Fxjst · September 25, 2013, 10:14am

Hi srhn, is your EA already available for download ?

force199 · September 25, 2013, 12:54pm

Congratulations, well done chappie

srhn · September 25, 2013, 5:12pm

Hello Fxjst
It is in testing phase, but I would share it as soon as possible.