Cornflower Hourly System | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Cornflower EA 69 replies

Simple Hourly System 4 replies

Special request: Can someone make a Cornflower EA for us? 24 replies

cornflower mq4 request. 1 reply

"Bagovino Method" VS "Cornflower Hourly System" 16 replies

Attachments: Cornflower Hourly System
Exit Attachments

Cornflower Hourly System

  • #181
  • May 15, 2007 2:09pm May 15, 2007 2:09pm
That was Great!!! If you keep this up, the rating meter will burst. I dont think it can handle a 10-star rating. I was reviewing the cadusd and you know what I feel like....I feel like you caught a nice wave and started surfing it.

You sure watch alot of pairs. Anyway, you take care and don't forget to get some rest.

Thanks, again, Felicia.

James "stickers"
  • #182
  • May 15, 2007 3:32pm May 15, 2007 3:32pm
Hi Felicia, is the Cornflower system similar to a system from Dr. Alexander Elder. I have heard alot of great things about him...I hear he is a genius. Have you ever heard of him? He wrote a book called trading for a Living I think.

Also how often do you follow the news with all the different pairs you trade and how does that impact your decisions to enter a trade or not?

Thank you in advace for your efforts.....Joe
  • #183
  • May 15, 2007 3:43pm May 15, 2007 3:43pm
Quoting jcarrier
Hi Felicia, is the Cornflower system similar to a system from Dr. Alexander Elder. I have heard alot of great things about him...I hear he is a genius. Have you ever heard of him? He wrote a book called trading for a Living I think.

Also how often do you follow the news with all the different pairs you trade and how does that impact your decisions to enter a trade or not?

Thank you in advace for your efforts.....Joe
Elder's books are excellent. I suppose there is a passing resemblance between the systems in that I wait for the 5m to match up with the hourly. But again, I stress that this is not necessary. You can trade the hourly by itself.

News plays a big role in my trading. I do not take a new position right before a red-colored announcement. Even the orange-colored ones can move the market on a substantial deviation from consensus. News is only a factor for GBP, USD, AUD, CAD, and occasionally NZD. JPY news doesn't really impact the market much, and EUR news doesn't impact it at all. GBP and USD are the two currencies most affected by news.
  • #184
  • May 15, 2007 3:49pm May 15, 2007 3:49pm
Hi felicia,

Great thread. I was wondering if you could list the generic conditions of price action that gives the higher potential for trades to backfire? I want to be clear in my thought processes on trade entry and want to have every possible scenario covered.
Thanks
Pete
  • #185
  • May 15, 2007 4:32pm May 15, 2007 4:32pm
Quoting Porkpie
Hi felicia,

Great thread. I was wondering if you could list the generic conditions of price action that gives the higher potential for trades to backfire? I want to be clear in my thought processes on trade entry and want to have every possible scenario covered.
Thanks
Pete
Good question. I would say the following:

1) Flattening EMAs are never a good sign. It means price action is stalling. You want a well-oiled Jaguar, not a Dodge Dart.

2) A chart whose EMAs fit the criteria, yet whose pattern is sloppy and ill-defined. You want nice, steady movement.

3) Long wicks all over the place. Wicks pointing against the direction of your trade is a good thing; it indicates that price successfully repelled an area of potential supply, with ample buyers stepping in. Long wicks in both directions means that the market is undecided as to what the price should be, so you have traders buying and selling and scalping and generally passing the crack pipe. Crack is wack.

4) A strong candle close that causes the 8 and 12 EMAs to point opposite the direction of your trade. Stay out.

5) Short EMAs stacked opposite to the direction of the 72 EMA. Stay out.
  • #186
  • May 16, 2007 6:45am May 16, 2007 6:45am
Terrible day for this method., but all systems have bad days.
  • #187
  • May 16, 2007 10:16am May 16, 2007 10:16am
Not so terrible........
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 75 KB
  • #188
  • May 16, 2007 7:30pm May 16, 2007 7:30pm
Hi, I'm approximating that the eurusd price will pullback to the cornflower blue line at around 1.3540-50. If you don't mind looking at the setup if setup is "sweet" for a short or just ok. And because of that strong force, the price may not pullback all the way to the cornflower blue. This is base on your explanation, if I interpret it correctly. I had to re-read your statements 10x or more. I keep coming back to your threads and use it as a reference until I can remember it.

Hope to hear your comment. And it is greatly appreciated Thank you, Felicia.

You have a good evening.

James "stickers"
Attached Image
  • #189
  • May 16, 2007 7:42pm May 16, 2007 7:42pm
Quoting Sejake
Not so terrible........
I want to say this system is indeed a precious tool for traders, just had some bad runs yesterday. Glad you catched a good one
Felicia i voted 5 stars for this thread some time ago, because the idea of making MA's S&R is a precious thing we can take advantage.
  • #190
  • May 17, 2007 7:31am May 17, 2007 7:31am
Hey Miguel, yep not all roses. Was stopped out for small eurjpy short yesterday but re-entered on 30 min cross (long) and so far am up a bit ....hopefully it turns out ok.

Regards,

Sejake
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 27 KB
  • #191
  • May 21, 2007 3:03am May 21, 2007 3:03am
I thought this graph is like a masterpiece. I don't think it happens very often. This is a chart(H1) of usdcad -- May 17th to 21st, 2007. First pullback, it touches 24 ema(point A). Second pullback, it touches 12 ema(point B). Third pullback before falling, it touches 24 ema(point C).

Thought I'd share it.

James "stickers"
Attached Image
  • #192
  • May 22, 2007 3:28pm May 22, 2007 3:28pm
From what I've seen, this Cornflower system has great potential to earn consistent profits on a daily basis. What makes it really good is that it is so simple.

If you don't mind my asking you Felicia, what is your highest record of profitable trades using this system before encountering a loss?
  • #193
  • May 22, 2007 4:03pm May 22, 2007 4:03pm
Quoting southernmind
From what I've seen, this Cornflower system has great potential to earn consistent profits on a daily basis. What makes it really good is that it is so simple.

If you don't mind my asking you Felicia, what is your highest record of profitable trades using this system before encountering a loss?
I have only been trading the system for the last couple of months, so I don't have that kind of track record. Properly gauged entries have usually been profitable for me. It helps if you use the 5m template in conjunction with Cornflower proper. That way you are not going short when the pair looks like it's going up.

I recently discovered something. If the 5m is too much to deal with, but you want to time your entries better, pull up a 15m chart and put just the 8 and 24 EMAs on it. When they cross, and the cross is in line with the hourly, enter. The 15 minute crosses look very promising.

My 100th post. Hurrah!
  • #194
  • May 22, 2007 4:11pm May 22, 2007 4:11pm
This week so far has been ridiculously quiet. When there is no major news, the FX market goes to sleep as the big money stays on the sidelines. Not until Thursday do we have any potential market-moving news, so expect another day of little movement. I've only made about 20 pips this week, but 10 a day will still make you rich (see my Rules PDF).

GBPUSD may be trying to go back up, but there has not been a definitive break of the hourly trendline and there is resistance at 1.9780 to contend with. Major support is the trendline on the daily around 1.9500.
  • #195
  • May 22, 2007 4:45pm May 22, 2007 4:45pm
Hi lever 70, I'm impressing about your system. I had read it carefully a lot of time.

I am conservative. This morning, I use your system to trade EUR/USD on the hourly chart. Price retrace above 24 EMA. I enter a trade after trend line breaks confirm by stochastic cross down, rsi turns down below 40% and MACD histogramme diminish. I got 10 pips then close because Macd is not crossing down to its signal convincely.
Can you give me the way you enter a trade with more details. Do you confirm your trade with an indicator like stochastic, RSI or MACD? OR, you enter a trade when price retrace to 12 EMA or 24 EMA ?
I would like to hear from you about the entry point.

Excuse me for my English. I come from Cambodia
I thank you in advance.

God bless you.

Sri loba
Attached File(s)
File Type: doc eurusd.doc   651 KB | 1,105 downloads
Being a fxtrader is not easy. Ones must working hard.
  • #196
  • May 22, 2007 5:10pm May 22, 2007 5:10pm
Quoting sriloba
Hi lever 70, I'm impressing about your system. I had read it carefully a lot of time.

I am conservative. This morning, I use your system to trade EUR/USD on the hourly chart. Price retrace above 24 EMA. I enter a trade after trend line breaks confirm by stochastic cross down, rsi turns down below 40% and MACD histogramme diminish. I got 10 pips then close because Macd is not crossing down to its signal convincely.
Can you give me the way you enter a trade with more details. Do you confirm your trade with an indicator like stochastic, RSI or MACD? OR, you enter a trade when price retrace to 12 EMA or 24 EMA ?
I would like to hear from you about the entry point.

Excuse me for my English. I come from Cambodia
I thank you in advance.

God bless you.

Sri loba
Nice trade. Your identification of support at around 1.3436 was more significant than any single indicator on your chart. As I have said repeatedly, I don't use these indicators, and having three of them on your chart is not going to give you any more certainty than having none. They do nothing except trace a line in accordance with a mathematical formula derived from price. When they appear to predict a move, it is merely coincidental.

What I do do is time my entries in accordance with a 5m or 15m chart. See posts 71, 89, 97, and 193.

Indicators are a crutch. Kick them to the curb.
  • #197
  • May 23, 2007 6:01am May 23, 2007 6:01am
Quoting lever70
This week so far has been ridiculously quiet. When there is no major news, the FX market goes to sleep as the big money stays on the sidelines. Not until Thursday do we have any potential market-moving news, so expect another day of little movement. I've only made about 20 pips this week, but 10 a day will still make you rich (see my Rules PDF).

GBPUSD may be trying to go back up, but there has not been a definitive break of the hourly trendline and there is resistance at 1.9780 to contend with. Major support is the trendline on the daily around 1.9500.
Hi Felicio,

I was pleased to read this because as a brand new trader I was beginning to wonder whether I just lacked the bottle to get in there. Your rules of trading are a real eye opener and have given me a new perspective on trading. In particular the effect of compounding a small daily gain is a revelation and something which I feel may be in my grasp when I know litttle more than I know now.
A word of advice please. If I am to follow the path of the small daily gain is the best tactic to monitor as many pairs as possible or to focus on one or two pairs and gain a better understanding of their movement.

(BTW I would like to follow my messages with with one of those clever lttle quotes that make me look more intelligent than I really am. The trouble is I'm not intelligent enough to work out how to do it. Is it something that's you do manually every time you come on or is it done automatically for you and if so how ?
  • #198
  • May 23, 2007 6:03am May 23, 2007 6:03am
Quoting lever70
I have only been trading the system for the last couple of months, so I don't have that kind of track record. Properly gauged entries have usually been profitable for me. It helps if you use the 5m template in conjunction with Cornflower proper. That way you are not going short when the pair looks like it's going up.

I recently discovered something. If the 5m is too much to deal with, but you want to time your entries better, pull up a 15m chart and put just the 8 and 24 EMAs on it. When they cross, and the cross is in line with the hourly, enter. The 15 minute crosses look very promising.

My 100th post. Hurrah!
I have been using the 15M chart for a while now (see post #134) using all 4 of the ema's on the chart. I tried using the 8/24 cross tonight. I went short on the EUR/USD and GBP/USD. Made 23 pips on the EUR and 12 pips on the GBP. I went long on the USD/CHF, but my timing was off, and I ended up taking a 7 pip loss on that trade. The 8/24 cross looks like a good combination for the 15M chart.

Thanks again for this great system.
  • #199
  • May 23, 2007 8:05pm May 23, 2007 8:05pm
Well , I see after I took my pips and left, the EUR and GBP turned around and made two good runs. The Cornflower 15M charts with the 8/24 cross gave clear entry signals for both currencies. One would have made a bit over 150 pips by trading those runs.

Trades are like buses,...if you miss one, there is always another one coming.
  • #200
  • May 26, 2007 3:51pm May 26, 2007 3:51pm
Hi folks. I've been very busy with non-trading committments and haven't been able to focus on the market. How's everyone's trading going?
0 traders viewing now