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Cornflower Hourly System

  • #421
  • Jun 22, 2007 4:50pm Jun 22, 2007 4:50pm
Hey all, newbie here. Just finished reading all 28 pages. Whew. And now its friday at like 7:45 EST so no demoing for tonight. I love the system, thank you so much felicia for sharing it. Its simple, its easy, and its.. right!

My problem with almost every system I've tried has been missing the entrys because I'm just not at the PC when they happen. So I end up getting in late, making less money than I should, and often getting in at the end of the run.

Guess theres nothing I can do about that except wake up earlier, go to bed later, and stay glued to the laptop.

Anyway, just wanted to say hi and thanks :]
  • #422
  • Jun 22, 2007 7:40pm Jun 22, 2007 7:40pm
Quoting yen44x
Hey MizZu,

I ended the week with 481 pips on the demo account, with a win pct. of about 60%. A summary of the closed trades is attached.

As I experiment with the demo account, I've been placing 2 entries for each trade, one with a fairly small target of 20-30 pips, and the other with a larger target of 40-60 pips.

Now I'm looking forward to next week to see if it was just beginner's luck.
Wow, that's amazing trades u've got yen44x ... +481 pips in this week is very impresive i'm still experiment too in order to get trading style that best suited to me ...

Correct me if i'm wrong, u always placing 2 entries for each trade, 1st entries TP = 20 -30 pips and 2nd entries TP =40-60 pips .Is that mean for each trade u use 1 lot in 1st trade & 1 lot in 2nd trade OR 1/2 lot in 1st trade & 1/2 lot in 2nd trade ? and how about SL for each trade ? is it 50+spread ? or u have u'r own rules about SL ?

Great thx ...
Keep up a good work yen44x
  • #423
  • Jun 22, 2007 7:46pm Jun 22, 2007 7:46pm
Quoting euphoricism
Hey all, newbie here. Just finished reading all 28 pages. Whew. And now its friday at like 7:45 EST so no demoing for tonight. I love the system, thank you so much felicia for sharing it. Its simple, its easy, and its.. right!

My problem with almost every system I've tried has been missing the entrys because I'm just not at the PC when they happen. So I end up getting in late, making less money than I should, and often getting in at the end of the run.

Guess theres nothing I can do about that except wake up earlier, go to bed later, and stay glued to the laptop.

Anyway, just wanted to say hi and thanks :]
You have 2 days to back test with no market interuption.... Clock started when New York closed. Get busy...

PH.
  • #424
  • Jun 22, 2007 10:27pm Jun 22, 2007 10:27pm
Quoting MizZu_X7
Wow, that's amazing trades u've got yen44x ... +481 pips in this week is very impresive i'm still experiment too in order to get trading style that best suited to me ...

Correct me if i'm wrong, u always placing 2 entries for each trade, 1st entries TP = 20 -30 pips and 2nd entries TP =40-60 pips .Is that mean for each trade u use 1 lot in 1st trade & 1 lot in 2nd trade OR 1/2 lot in 1st trade & 1/2 lot in 2nd trade ? and how about SL for each trade ? is it 50+spread ? or u have u'r own rules about SL ?

Great thx ...
Keep up a good work yen44x
Since it's a demo account, I'm just using 1 mini-lot for each trade. I used two targets this week to see how often I reached the first target but missed the higher target. This week, though, both targets were always hit on the winning trades. I'll probably continue to experiment with that for a while to see if there's any value in having a lower first target.

I'm still working on stop loss placement. What I did this week was to use the 72-EMA reading on the 30-min chart as a stop loss. That usually meant a stop loss of 25 to 50 pips, which seemed to work well, and then I would adjust it as the trade moved in my favor to reduce potential risk.
Greetings from Guanajuato, Mexico
  • #425
  • Jun 23, 2007 5:51am Jun 23, 2007 5:51am
Quoting yen44x
I'm still working on stop loss placement. What I did this week was to use the 72-EMA reading on the 30-min chart as a stop loss. That usually meant a stop loss of 25 to 50 pips, which seemed to work well, and then I would adjust it as the trade moved in my favor to reduce potential risk.
Hi Yen44x,

Was your step set up to touch the 72ema or close below?


PH
  • #426
  • Jun 23, 2007 6:13am Jun 23, 2007 6:13am
Quoting yen44x
Since it's a demo account, I'm just using 1 mini-lot for each trade. I used two targets this week to see how often I reached the first target but missed the higher target. This week, though, both targets were always hit on the winning trades. I'll probably continue to experiment with that for a while to see if there's any value in having a lower first target.

I'm still working on stop loss placement. What I did this week was to use the 72-EMA reading on the 30-min chart as a stop loss. That usually meant a stop loss of 25 to 50 pips, which seemed to work well, and then I would adjust it as the trade moved in my favor to reduce potential risk.
well done yen44x about SL, this week i used that Ema's 72 on 30M too maybe i'll experiment again about TP next week , hope get more better pips ...

we'll discuss it later ...
Happy Weekend ...
  • #427
  • Jun 23, 2007 6:18am Jun 23, 2007 6:18am
Quoting MizZu_X7
i used that Ema's 72 on 30M too

Hi MizZu_X7,

Did you wait for a close below 72 to exit or a touch of the 72?

Thanks,
PH
  • #428
  • Jun 23, 2007 8:11am Jun 23, 2007 8:11am
Doing some backtesting and I'm noticing that I'm missing a bunch of entries by waiting for pullbacks on the 1H chart. Am I misunderstanding something?

Picture 1:

8, 12, 24 cross above the 72.. no pullback into the 8-12 zone until point B. Lots of missed pips (shouldn't have cut the scale out of my picture, oh well.)

Then another pullback at point C, which is a fine trigger between the 12 and 24.

Out of all of them at the cross at point D.

But point A... where do you get in?
Attached Image
  • #429
  • Jun 23, 2007 8:19am Jun 23, 2007 8:19am
And now the same area on the 30m chart...

We dont play pullbacks on the 30m, so coming in a little before point A is fine, or at point A.

B is confusing me. Strong trendline at 72ema, would you consider B as a rather large amount of support for the trend and buy or would you sit out?

8ema crosses 12 at point C so we're closing trades there.But then it comes back up. Buy or sit out?

8ema crosses 12 at point D, closing all trades.

Something tells me I'm missing some fundamental stuff here.


Edit: and I missed that between B and C theres signals all over the place... and nothing really comes of it.
Attached Image (click to enlarge)
Click to Enlarge Name: forex1.jpg Size: 37 KB
  • #430
  • Jun 23, 2007 9:15am Jun 23, 2007 9:15am
Quoting pip_hunter
Hi MizZu_X7,

Did you wait for a close below 72 to exit or a touch of the 72?

Thanks,
PH
For example, i place my SL 20pt below ema's 72 on 30M chart , if today the price hit ema's 72 on 30M but didn't hit SL, then i'll closed my trades tomorrow. but if the price didn't hit SL & didn't hit ema's 72 on 30M, then i'll still in trade tomorrow ....

Here's Example on 30M GBP USD :
Attached Image (click to enlarge)
Click to Enlarge Name: examples.jpg Size: 55 KB
  • #431
  • Jun 23, 2007 12:07pm Jun 23, 2007 12:07pm
Quoting pip_hunter
Hi Yen44x,

Was your step set up to touch the 72ema or close below?


PH
Pip Hunter,

MizZu and I seem to have adopted similar strategies on the stop loss. I've been placing the stop 10 to 20 pips below the 72EMA on the 30-min chart.
Greetings from Guanajuato, Mexico
  • #432
  • Jun 23, 2007 12:24pm Jun 23, 2007 12:24pm
Quoting euphoricism
Doing some backtesting and I'm noticing that I'm missing a bunch of entries by waiting for pullbacks on the 1H chart. Am I misunderstanding something?

Picture 1:

8, 12, 24 cross above the 72.. no pullback into the 8-12 zone until point B. Lots of missed pips (shouldn't have cut the scale out of my picture, oh well.)

Then another pullback at point C, which is a fine trigger between the 12 and 24.

Out of all of them at the cross at point D.

But point A... where do you get in?
I didn't develop the system, so perhaps Felicia will want to reply to this when she returns, but the whole point of a trend retracement system is to allow a trend to develop and then take advantage of the inevitable pullback.

If any of us could consistently predict when "point A" would develop on any chart, we'd have the holy grail. Since we usually can't do that, the Cornflower system allows us to do the next best thing: Recognize that a trend has developed, and then enter at the pullback. The adage in trading is "buy the dips and sell the rallies". The Cornflower system gives you a predictable way to put that into action.

Did you lose some potential pips my missing the entry at "point A"? Yes, but it appears to me that both your "point B" and "point C" entries offered nice pip potential and definitely would have been winnable trades.

In regard to your next post (#429), I may have missed it, but I didn't see where Felicia ever suggested closing a trade when the 8 EMA crossed the 12 EMA on the 30 min chart.

Good luck in your trading.
Greetings from Guanajuato, Mexico
  • #433
  • Jun 23, 2007 1:07pm Jun 23, 2007 1:07pm
Crap, that means I'm confusing all the different systems.
  • #434
  • Jun 23, 2007 1:12pm Jun 23, 2007 1:12pm
Quoting euphoricism
Crap, that means I'm confusing all the different systems.
Not necessarily . . . You recognized the important elements of the 60-min chart, i.e. the entries at point B & C.

In regard to the other nuances, my suggestion would be to go back to the first post, click on Lever70 (Felicia's handle), and it will give you the option to read all her posts. That will allow you to review the highlights of the system very quickly.
Greetings from Guanajuato, Mexico
  • #435
  • Jun 23, 2007 1:16pm Jun 23, 2007 1:16pm
Quoting yen44x
Pip Hunter,

MizZu and I seem to have adopted similar strategies on the stop loss. I've been placing the stop 10 to 20 pips below the 72EMA on the 30-min chart.

Ok, Thank you. From what you are telling me the actual stop is 20 or so pips below the 72 ema on the 30 minute time frame. If it closes below you exit and the set stop below that is the fail safe? Is that correct?

Thanks,
PH
  • #436
  • Jun 23, 2007 1:25pm Jun 23, 2007 1:25pm
Quoting pip_hunter
Ok, Thank you. From what you are telling me the actual stop is 20 or so pips below the 72 ema on the 30 minute time frame. If it closes below you exit and the set stop below that is the fail safe? Is that correct?

Thanks,
PH
Not exactly. I may not have been clear in my first post. I will usually set my stop 10-20 pips below the 72 EMA on the 30-min chart. Once that's done, I'm don't often look at the charts again for several hours. So, I'm not concerned about where the candle closes. When I return to the charts, if my stop has been hit, that trade's history. If it's moved up but has not hit my target, I'll adjust the stop loss again so it continues 10-20 pips below the 72 EMA, thereby reducing my potential loss.

Most importantly, keep in mind that these are NOT Felicia's rules. She may return and say that I'm dumber than rocks. At this point, I'm just experimenting on a demo account and that stop loss method worked well this week.
Greetings from Guanajuato, Mexico
  • #437
  • Jun 24, 2007 1:14am Jun 24, 2007 1:14am
relooking at point A on the hourly chart (sorry to make you jump back a page) it looks like there is indeed a single candle between 8 and 12... but not by much.

I cant decide if I would have taken it there or not. Thoughts?
  • #438
  • Jun 24, 2007 6:14am Jun 24, 2007 6:14am
Quoting yen44x
Most importantly, keep in mind that these are NOT Felicia's rules. She may return and say that I'm dumber than rocks. At this point, I'm just experimenting on a demo account and that stop loss method worked well this week.
That alright, I just wanted feed back from the group. In my opinion, stops are always an area of "Art over Science".

Since you are off to a good start I am just interested in the brushes you are using.

PH
  • #439
  • Jun 24, 2007 7:31am Jun 24, 2007 7:31am
Quoting euphoricism
relooking at point A on the hourly chart (sorry to make you jump back a page) it looks like there is indeed a single candle between 8 and 12... but not by much.

I cant decide if I would have taken it there or not. Thoughts?
What does a single candle between 8 & 12 signify to you? Unless I'm totally misunderstanding your question, it has nothing to do with this system as far as I know.

Just looking at the chart, there's no trend in place at Point A, no retracement to between the 12 & 24 EMA, and therefore no trigger for a trade entry.
Greetings from Guanajuato, Mexico
  • #440
  • Jun 24, 2007 8:01am Jun 24, 2007 8:01am
Quoting euphoricism
relooking at point A on the hourly chart (sorry to make you jump back a page) it looks like there is indeed a single candle between 8 and 12... but not by much.

I cant decide if I would have taken it there or not. Thoughts?
Euphoricism,

Here's the GBP-USD 60-min chart from this week that might help.

There's a definite trend established that offers several opportunities to enter at a pullback to between the 12 & 24 EMA, all of which appear to be winnable trades.
Attached Image
Greetings from Guanajuato, Mexico
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