Please help
unzip file. open your mt4 folderāopen mql4 folder-- there you have to save unziped files to INDICATORS folder. I hope i made it clear. Sorry for my english
Whatās the best time frame for this indicator?
Mityukovās system is the best!
Hi all. Am I right in saying that this system doesnāt trade on Mondays and Fridays and that a new trade will not be accepted after around 10:30am east (though an existing position may stay open until 4pm ? Thanks in advance to anyone familiar with this.
Looking closer it appears that we get out at 11:45am est which is nice as thatās nearly midnight here and forces me to bed.
I must say that following a system like this really helps me to establish discipline in my trading. I know that whatever trades I take up or donāt take up will have to tally with Pip Surferās report when it appears. If I were to do something a bit different and take a loss Iād be kicking my butt around the house!
If I see something that looks okay to me but doesnāt quite stack with the rules I have to stay out, likewise if I donāt really feel too confident about a trade that matches the requirements to go in, I still take it as Iām a noob and pip has been around for so long :). So yes, thanks for helping me to learn to discipline myself pip.
One thing I do a little differently is trade on Mondays and Fridays also. This doesnāt seem to be against the rules but pip doesnāt report Mondays and Fridays.
Does anyone makes a steady long term profit using this system or at least knows someone for sure who does? Iām suspecting the author of this system is not playing it fair in his blogs posts, therefore gives it a fake edge. I have some hard evidence to back up those claims and Iāll be making a thread about it in the coming days, exposing the Cowabunga system.
Have to disagree here. I have found the reports to be very accurate as I have been trying to mirror them. Let us know of any dates you have a query on and I will look over them (last 2 months better). Iām using same charts so pretty accurate. One thing I would say is that cable isnāt exactly behaving like cable usually does at the moment so I am going to let it settle back into a more normal trading pattern.
From post #1
"The Cowabunga system is meant for educational purposes and is simply a way to show you that a simple system can be effective in the Forex market if you stick to your rules and stay diligent. Have fun with it, and maybe it will inspire you to come up with a system of your own."
Jut a question, Michael, but have you used any backtesting software, checked out the method over a few thousand trades and seen whether it makes a profit or a loss?
Eddieās post above quotes the purpose and function of the system very clearly. Iām not aware that anyoneās trading it long-term with a funded account and regularly making profits from it. I may be wrong, of course, but Iād be extremely interested to see their records, if they are (but not just over a small number of trades, of course: even a simple moving average crossover with nothing else might happen to show profits over a couple of hundred trades, but that clearly doesnāt make it a sound, valid or reasonable method, does it?).
Yes, this system has been proven successful over a very long period of time. Itās a system that has been better documented and followed up than any other on the forum. The educational thing is a disclaimer as much as anything else. Traderās who have gone on to make better systems themselves will certainly be profitable and experienced. I still need much more time before I can really compete with this.
Hi lex
I think i was posting at the same time as you. Backtested, no because of all the things that are done manually during the management of the trades. There is always a little discretion and Iām not up to programming something that will be able to match that. Seems that it would be like trying to write something to win at chess ! I did over a few months look bar by bar and applied strict rules to what I would have done. The months I looked at were all profitable and very close to what was reported in the blog. I went as far as paying for the same charts to work from. The years that were documented here were proven profitable and I have no reason to doubt the numbers. I have also verified for my own purposes the reports over the past few months with very few discrepancies. the reported figures add up to profitability. I would look back over the forum history for more references to itās profitability which I believe are fair. I havenāt found another thread on babypips that has been followed up with actual trade reports on a system as well as this has been. For me the challenge has been matching the authors results with my own trading. The only thing that I would add and mentioned before is that the system was designed for cable only and as we all know thatās behaving slightly differently at the moment. More volatile and therefor needing further discretion. Personally Iām waiting for cable to return to something like itās normal self in terms of volatility. 
Ok: thanks. If you have, you have. Please excuse my mentioning that your conclusion from having done so is strikingly different from my own, and from those of the only two other people I know who have also done so and shown me their results.
Looks like we crossed again. Anyway, perhaps as you have a better system you could start a thread of your own and show us how itās done. Perhaps there is one already. pls provide a link if so !
Ah, ok - sorry, I was replying to post #1413 without having seen post #1414 (as you say, we were posting at the same time!).
Lol, nothing so complicated, really: I canāt ācodeā at all, but managed to use software called āForexTester2ā to check this out. My perspective on this subject is that while favourable-outcome backtested results over a large, statistically significant sample-size donāt necessarily mean that a system will continue to be profitable moving forward, loss-making backtests over the same sample-size will certainly dissuade me from using it.
I do need to improve my backtesting writing I always think that the program is not working as I would be
This is from the q and a.
QuoteāHow come you donāt update your trade record anymore?
I have updated my track record religiously for about 4 years now. Publicly, Iāve updated it for about a year and half. The reason I stopped updating it was because it became pointless. The purpose of it in the first place was just to show the efficiency of the system. I believe I have accomplished that and have had enough evidence to know that this system works! I encourage you to keep a track record for yourself to monitor your trading, but as for the Cowabunga System goes, the trade record will stop being updated.
Here are the links to the Cowabunga Track Record when I kept track of it:
2007
2008
For current track records, I am using MeetPips.com to log my trades. The site automatically keeps my track record for me. You can see my current track record here:
MeetPips.com Cowabunga Track Record
Read more: Cowabunga System FAQā end quote.
I donāt know how many hours have gone into maintaining this thread over the years. My gut feeling is that the years mentioned above 2007 and 2008 were indeed profitable as were every year after that. I doubt if a backtesting program could match an actual traderās decisions without being really well written. I would like to see more blogs managed as professionally as this has been. I think there are some good ideas out here though. I would also be very interested in hearing any mods that make this idea better or indeed any better systems.
The MACD in particular needs to match that of the author. Iām not sure the one on MT4 displays the same thing or if it can do it may not be a standard setting. This is something from which many of the trades are taken or declined. I think this system provides approximately 1 valid call per day as a ball park figure.
I will also update people on what else I am doing although admittedly this may not be the place to do it :). I also like Maryoā¦though his thread is a different style and the trade execution and management is not documented as it is here. I have also reviewed tons of signal providers and found 1 which I am happy to work with. Iām loathed to mention it here for fears of people saying that iām marketing when in fact Iām sharing the results of my research. Anyway forum watchers will know what Iām talking about. Among other signal providers I detected a common cheat in reporting performance. Basically one could toss a coin to determine buy or sell and show profitability based on this common reporting practice :). Thatās my research input, pls help me if you can ! And yes, Iām also working on being profitable from my own ideas and will share anything I come up with. (donāt expect anything soon lol).
Lexys, did you backtest this system manually, taking into consideration new releases?
I just finished backtesting it throughout May and June using tradingview.comās charting software and that took me bloody 4 hours, I canāt imagine how long would it take to backtest years worth of trades. And I wasnāt very picky about my exits, just used the close price of 15 minutes candles. The results are +60 pips (21 trades) in June, and about +300 pips (20 trades) in May. Spread not included. Of course 40 trades are too little to draw any real conclusions, but at least it gives me some hope that this system might not be a total bogus.
Also as Michael already mentioned using proper MACD is vital, I was really surprised to see how many times it did prevent me from taking a loosing trade.
No; I backtested it using automated software and over 10 years of data.
The other two people I mentioned did the same (in their case, using privately owned software which belongs to their financial-institution employer).