Cornflower Hourly System | Page 37 | Forex Factory

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Cornflower Hourly System

  • #721
  • Jul 28, 2007 12:36pm Jul 28, 2007 12:36pm
Quoting sepak.orang
it is supposed to load a java chat module if your computer is installed with java runtime environment. no need to sign up. just fill in your name and click 'Connect' button when it is loaded.

u can also connect to the chatroom using any irc client.

this is what jafar told me yesterday

Server: irc.everywherechat.com port 7000
Room: Forex_Chat
Sorry about that

I did do an emergency chat upgrade earlier in the week and it only made the previous troubles worse, so I did another emergency upgrade and moved it offsite completely and changed to what I think everyone will agree is a better solution with no lag which is important when we are calling out our cornflower entries.

Hope to see you all there for the fun next week. And remember not to get tempted to enter any new trades on Sunday night open unless you are feeling reckless and use small volume.
  • #722
  • Jul 28, 2007 12:48pm Jul 28, 2007 12:48pm
Quoting jafar00
Sorry about that

I did do an emergency chat upgrade earlier in the week and it only made the previous troubles worse, so I did another emergency upgrade and moved it offsite completely and changed to what I think everyone will agree is a better solution with no lag which is important when we are calling out our cornflower entries.

Hope to see you all there for the fun next week. And remember not to get tempted to enter any new trades on Sunday night open unless you are feeling reckless and use small volume.
hehe.. im very sure it was a right decision to use irc. a lot better it is much easier to access as well. good job jafar!
  • #723
  • Jul 28, 2007 5:20pm Jul 28, 2007 5:20pm
I am new to Cornflower and very excited about learning it. It is the first time
since I started more than 6 months ago that something looks clear to me!!
Thanks Felicia for this system. I do have a question.....I don't understand how to join the chat room. What url do I use? and how do I find the name of the chat room? I've just tried it but dont get very far. Please help.
Thanks a million (pips that is)
trademeister
  • #724
  • Jul 28, 2007 9:21pm Jul 28, 2007 9:21pm
Quoting trademeister
I am new to Cornflower and very excited about learning it. It is the first time
since I started more than 6 months ago that something looks clear to me!!
Thanks Felicia for this system. I do have a question.....I don't understand how to join the chat room. What url do I use? and how do I find the name of the chat room? I've just tried it but dont get very far. Please help.
Thanks a million (pips that is)
trademeister
http://www.rebatefx.com/chat.php
  • #725
  • Jul 29, 2007 8:53am Jul 29, 2007 8:53am
hello!

can anybody please help me!

how to i set up the different timeframes in metatrade ( 5 minutes, 15 minutes, 30 minutes und 1 hourly ) for one curreny so that i can only see these four windows on my pc?
can i also save this and make this for more curreny?
i have tried it but it doesn´t really work

please look at the screenshot - for any advice i would be very happy - thanks
sweety 78901

p.s. sorry for my english
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.jpg Size: 112 KB
  • #726
  • Jul 29, 2007 10:07am Jul 29, 2007 10:07am
Quoting sweety78901
hello!

can anybody please help me!

how to i set up the different timeframes in metatrade ( 5 minutes, 15 minutes, 30 minutes und 1 hourly ) for one curreny so that i can only see these four windows on my pc?
can i also save this and make this for more curreny?
i have tried it but it doesn´t really work

please look at the screenshot - for any advice i would be very happy - thanks
sweety 78901

p.s. sorry for my english

If you want to set up multiple chart timeframes like that, you need to save each currency as a separate "profile". Then switch profiles when you want to see another chart. It's time consuming but it can be done.
  • #727
  • Jul 29, 2007 10:58am Jul 29, 2007 10:58am
Quoting sweety78901
hello!

can anybody please help me!

how to i set up the different timeframes in metatrade ( 5 minutes, 15 minutes, 30 minutes und 1 hourly ) for one curreny so that i can only see these four windows on my pc?
can i also save this and make this for more curreny?
i have tried it but it doesn´t really work

please look at the screenshot - for any advice i would be very happy - thanks
sweety 78901

p.s. sorry for my english
sweety 78901,

1. go to menu [on the top of your screen], click "window", then click "tile horizontally" or " tile vertically" from the drop-down sub-menu; all different time frame windows which are currently open for this currency pair, will appear in smaller size tiled next to each other in the main window.

2. minimize the small time frame windows, which you don't need to be tiled up [by clicking on the leftmost square in the top right of the small window; it has an underscore "_" displayed on it]; now you should have only m5, m15, m30 and h1 left open.

3. repeat the step 1 and you will have only these four time frames tiled in the main window the way you wanted it.

4. if you want to shift these 4 small windows around to change the order of their appearance in the main window, you need to drag their corresponding tabs [located at the bottom of the main screen] to position tabs from left to right, which will yield the counterclock-wise position of the small windows starting from the left top corner of the main window; then repeat step 1 to achieve desired positioning of the small windows.

5. go to menu [on the top of your screen], click "file", then click "profiles" from the drop-down sub-menu, then choose "save as"; in the pop-up dialog box type the name for this currency profile [for example, eur usd] and click ok. you should have this name appear at the bottom center of the main window.

6. repreat steps 1 through 5 for all currency pairs which you trade, and you will be able to flip through them by clicking f5 button on your keyboard to go to the next, and shft+f5 to go to the previous profile; you can also click on the profile name in the center bottom of the main window, and click on the profile names directly from the drop-up window which will appear; you will also be able to rename, save and delete profiles directly from there.

7. when you are done close the mt4 platform and open it again - this saves all the changes you have made.

i did not mean to insult you by sending such a detailed manual, just want you to set everything up error-free. however, in order to become fluent and proficient with the platform, i suggest you to experiment with mt4, push all the buttons and see what everything is and what it all does [while demo-trading of course ].

best wishes and good luck...
  • #728
  • Jul 29, 2007 1:00pm Jul 29, 2007 1:00pm
thank you very much for your help - now i´ve got it

best wishes
sweety78901
  • #729
  • Aug 1, 2007 5:59pm Aug 1, 2007 5:59pm
Elementary Cornflower, as I understand it!


http://www.forexfactory.com/attachme...1&d=1186009046
Attached Image (click to enlarge)
Click to Enlarge Name: CORNFLOWER_EUR_JPY.jpg Size: 35 KB
  • #730
  • Aug 1, 2007 7:11pm Aug 1, 2007 7:11pm
Kev-K has shown us why waiting for the 24 EMA is often a good thing. Almost every entry was proftable. One thing: you would have been in before that last arrow, with the pair going against you by a sizeable amount before it went in your favor. That's trading.

Once a given pair hits the +2 profit band, further entry attempts are risky. Use the shorter timeframes for confirmation.
  • #731
  • Aug 1, 2007 8:55pm Aug 1, 2007 8:55pm
If building wealth (freedom for family, friends, and self) takes time; I am inclined to wait for the 24-EMA to bend my way as well. And so, I will surely miss some very good trades . . . however, I will reach my goal (albeit a tad more slowly.)

My secondary and tertiary entry "arrows" were for illustrative purposes (I have learned my lesson in FOREX the hard way . . . never going to be stupid, eager, or greedy again!)

And yes, I am eagerly awaiting the arrival of your Cornflower PDF! Can't thank you enough for a beautifully simple "system" based on price movement!

Oh yes, when you have a moment . . . would you please expand upon your "profit band" observation/comment. Thank you!

Kevin
California-USA

+++++++++++++++++++++

Kev-K has shown us why waiting for the 24 EMA is often a good thing. Almost every entry was proftable. One thing: you would have been in before that last arrow, with the pair going against you by a sizeable amount before it went in your favor. That's trading.

Once a given pair hits the +2 profit band, further entry attempts are risky. Use the shorter timeframes for confirmation.[/quote]
  • #732
  • Aug 2, 2007 2:30am Aug 2, 2007 2:30am
Felicia,

I would like your opinion on a small quirk I'm trying to deal with. I'm creating a new Cornflower EA just as an alert, not for auto-trading, based on the angles of the ema's, the closeness of the price to the indivdual ema's and the spacing of the ema's to generate the alerts. As I'm sure you know, calculating the angle of MA's on MT4 is a very subjective thing. Because of the scaling the platform does to allow you to see all of the candles, you don't get a true representation of the actual angle of an MA. (See first chart below.) If you check the "Scale fix One to One" in the chart properties, then you can see something very close to the true angle. (Second chart below.)

Here's what I would like your opinion on. I've written a routine that calculates the angle pretty accurately. But what angle do we want? Do we want the true angle of the MA's based on scaling 1:1? Do we want angles based on what we're seeing on the screen even though the angle that's displayed is correct for what your seeing, it's not the true angle based on price. As an example, it's entirely possible to look at your chart and see the 72ema at something like 10 degrees. Then turn on "Scale fix One to One" and the angle changes to 30 degrees. Both are correct for what you're 'seeing', but that's two different angles for the same data. Which to use?

I can write it either way. It can be written so that the angles that you 'see' are what's calculated. Or I can write it so that the angle that's calculated and displayed is the 'true' angle based on 1:1 scaling, but not based on what you may be observing.

I posed this question to jafar00 over on the chat room, he suggested that I give the option for both, and suggested I ask you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 13 KB
Click to Enlarge Name: chart2.gif Size: 16 KB
  • #733
  • Aug 2, 2007 11:56am Aug 2, 2007 11:56am
Quoting lever70

Once a given pair hits the +2 profit band, further entry attempts are risky. Use the shorter timeframes for confirmation.
Lever70,

As I study your system, I am impressed by all the work that you have done to bring it this far ... Thanks! Now, on to the question -

In post #281 of this thread, you said "The 72 EMA excursion values for each pair are as follows:", and you go on to describe the P1 and P2 values for a variety of currency pairs.

What does "72 EMA excursion" mean? I don't want to guess/assume what you intended with this info. Thanks
  • #734
  • Aug 2, 2007 2:10pm Aug 2, 2007 2:10pm
After reading a "Lever70" posting about "good" cornflower setups, I started to look closely at this pairing. It seems to be, might be, perhaps is the case . . . that we may be seeing a new (deja vu) long trend developing in this pair (similar to the "good" mid-June setups referenced in her posting.)

Wanted to get some thoughts, ideas, etc. about this VERY early pattern (zoom in to both time frames.) Time will tell.

PS: won't hurt my feelings to be worng (or even be slammed!)

Regards, Kev-K
http://www.forexfactory.com/attachme...1&d=1186080007
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-JPY-dejavu.jpg Size: 48 KB
  • #735
  • Aug 2, 2007 3:08pm Aug 2, 2007 3:08pm
Quoting Kev-K
After reading a "Lever70" posting about "good" cornflower setups, I started to look closely at this pairing. It seems to be, might be, perhaps is the case . . . that we may be seeing a new (deja vu) long trend developing in this pair (similar to the "good" mid-June setups referenced in her posting.)

Wanted to get some thoughts, ideas, etc. about this VERY early pattern (zoom in to both time frames.) Time will tell.

PS: won't hurt my feelings to be worng (or even be slammed!)

Regards, Kev-K
I'm starting to see a swing back upwards on the dailies, so I think you're on the right track. This is why it's always good to pull back sometimes and check longer time frames just to get a clearer over-all picture. I think it's been said that taking the time to glance at a longer time frame to confirm your trades can do something like increase your profitable trade count by like 20-30%? I think it's in the Spudfyre thread.

Edit: It was indeed Spudfyre, though talking about his own personal trading strategy; but I feel that the concept of looking at multiple time frames holds, just the same.
http://www.forexfactory.com/showpost...12&postcount=4
Never underestimate the powers of the Force.
  • #736
  • Aug 2, 2007 5:05pm Aug 2, 2007 5:05pm
If you have profits, take them now. If you are not in the market, stay out until after NFP.

53 pips banked on GBPUSD move, which was a trade of the break:

http://img358.imageshack.us/img358/1...02aug07jr7.gif

I outlined this entry on page 3 of this thread, and it hasn't been discussed since. When the market is choppy, it is the most reliable way to enter, provided the EMAs are lined up.
  • #737
  • Aug 2, 2007 5:30pm Aug 2, 2007 5:30pm
Quoting ForexFred
Felicia,

I would like your opinion on a small quirk I'm trying to deal with[...]
Verticality is your friend. You want that chart close to twice as tall as it is wide. The wider the chart is, the less steep the angles will appear.
  • #738
  • Aug 2, 2007 5:32pm Aug 2, 2007 5:32pm
When EMA's flatten . . . TL's from recent high/low to most recent significant high/low . . . breakout in which direction can be expected ???

Lever, any advice gratefully accepted.

K
  • #739
  • Aug 2, 2007 5:34pm Aug 2, 2007 5:34pm
Quoting Paul Weber
What does "72 EMA excursion" mean?
It simply means the distance a given pair can be expected to travel from the value of the 72 EMA, measured in pips. For GBPUSD, for example, P1 is 70 pips from the value of the 72 EMA at the time of entry.

This is something I have been meaning to comment on. If you use the profit bands, it is safer to use the targets that are evident at the time you enter the market. While it is true that the bands move with price, you are better off taking your profit based on what the values of P1 and/or P2 are at the time you enter the trade, instead of revising your targets upward as the trade moves in your favor. Chances are the market will pull back to the 12 EMA, and you can enter again at a lower price after you have taken your band-based profits.
  • #740
  • Aug 2, 2007 5:39pm Aug 2, 2007 5:39pm
Quoting The Jedi
I'm starting to see a swing back upwards on the dailies, so I think you're on the right track. This is why it's always good to pull back sometimes and check longer time frames just to get a clearer over-all picture. I think it's been said that taking the time to glance at a longer time frame to confirm your trades can do something like increase your profitable trade count by like 20-30%? I think it's in the Spudfyre thread.

Edit: It was indeed Spudfyre, though talking about his own personal trading strategy; but I feel that the concept of looking at multiple time frames holds, just the same.
http://www.forexfactory.com/showpost...12&postcount=4
I also think Kev-K is on the right track, and have noticed the same pattern myself. But remember, we don't need to speculate on what the market might do. All we need to do is use CF to gauge what the market is doing, and then trade accordingly. Neat, eh? As traders, we are kings (and queens) of convenience.
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