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Cornflower Hourly System

  • #781
  • Aug 10, 2007 8:01am Aug 10, 2007 8:01am
Quoting WS168
Thats not your responsible, don't mention !
I myself should seek and learn more about this, its my responsible !
I can understand, you no need to change your GMT time.

Btw, how about your trading yesterday for USDJPY, with what stragegy & how you exit to TF ? Please share to us ! http://www.forexfactory.com/images/icons/icon12.gif

Cheer

WS168
Hi again, WS.
Thanks for understanding, my friend.
Re yesterday's trading..........I read earlier in this thread that Felicia (Cornflower's creator) was at heart a scalper, so I decided to try a bit of scalping with Cornflower on the 5m chart. You can see the results below. Of course, it helped having a really good trending market yesterday. If it was like that every day, we'd all be millionaires in no time at all!!

I didn't open my first trade until the first candle under the correct sequence of MA's, and my target was the Pivot Point, which, as you can see, it hit with no problem at all. 17 pips profit after spread.
I then waited for the next opportunity......a candle to find resistance at, or pierce, the 10 ema. If you look at how the price is coming down between the first yellow arrow and the 2nd yellow arrow, and see how it relates to the blue Pivot Point, it seems to take the shape of a descending triangle, so I didn't enter the trade until it had passed through the Pivot Point, reducing my profit to 9 points. I exited the trade after the spinning top, which is always a good place to exit!!
I entered the third trade as the candle passed back through the 10ema and ended up with 13 pips profit, as I exited at the opening of the "long" candle. Gotta be quick at this game, it seems!
The last trade was straightforward, and yielded 14 pips profit.
All profits quoted after the spread was taken away, leaving a total of 53 pips, which I'd rate as pretty good, seeing as it only took around an hour and three quarters to achieve.
I'd say it's a pretty good method if you have the time to sit and wait for each opportunity to come along. However, it doesn't suit everyone, but I have to say I enjoyed the experience. If nothing else, I've proved to myself that it can be done, which improves one's confidence no end.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy - scalp01.gif Size: 17 KB
  • #782
  • Aug 10, 2007 8:09am Aug 10, 2007 8:09am
I have absolutely NO idea why my last post was issued twice.

Gremlins, perhaps?
  • #783
  • Aug 10, 2007 9:20am Aug 10, 2007 9:20am
Good stuff Eyevoltage,

I started playing with Cornflower on the 5 minute this morning and also using Felicia's GUPPY on a 1 minute chart. Both charts give me the go ahead, I place the trade. Picked up AUD/JPY for 15 pips and GBP/JPY for 16.

Since my daily goal is 10 pips....I think I'll go to the golf course.

Thanks for the charts.

Have a great weekend.

MG
  • #784
  • Aug 10, 2007 2:10pm Aug 10, 2007 2:10pm
Quoting Matrixxdg
Good stuff Eyevoltage,

I started playing with Cornflower on the 5 minute this morning and also using Felicia's GUPPY on a 1 minute chart. Both charts give me the go ahead, I place the trade. Picked up AUD/JPY for 15 pips and GBP/JPY for 16.

Since my daily goal is 10 pips....I think I'll go to the golf course.

Thanks for the charts.

Have a great weekend.

MG
Enough is enough for one day. Your daily goal times 3? Nice one, son.
Enjoy your weekend also.
Cheers.
  • #785
  • Aug 11, 2007 10:02pm Aug 11, 2007 10:02pm
Eyevoltage.

I am new to MT4.... where do I find MultiPivotV2. I searched GOOG and only came up with your post.

Thanks... Mike G
  • #786
  • Aug 12, 2007 2:03am Aug 12, 2007 2:03am
Quoting Matrixxdg
Eyevoltage.

I am new to MT4.... where do I find MultiPivotV2. I searched GOOG and only came up with your post.

Thanks... Mike G
MultiPivotV2 attached
Attached File(s)
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 645 downloads
  • #787
  • Edited 5:42pm Aug 12, 2007 11:31am | Edited 5:42pm
Hello,

while backtesting CF to train my eye, I noticed many times the situation showed on screenshots I took from the backtesting platform.
When Im analyzing offline chart I can see many CF entry points i.e. a pullback to 24ema. Notice the perfect alignment of all three shorter emas.

http://www.cntrade.cz/files/forex/co...r/eurusd_a.gif
[offline chart analyse showing the CornFlower entry point as I understand it]

But in the real-time at the moment when the price is pulling back to the 24ema, the ema is almost always flat at the most recent candle or two and the 8 and 12 emas are almost always pointing the opposite direction. Also an intersection of a candle and 24ema often never occures in real-time, because the moving average is following the price movement and is also pulling back a little.

http://www.cntrade.cz/files/forex/co...r/eurusd_b.gif
[backtest situation showing the same CornFlower entry point at the moment of pullback]

By ignoring this fact and focusing on the direction of the 8, 12 and 24 emas of previous 3-4 candles I was able to take the profit consistently.

pta.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_a.jpg Size: 47 KB
Click to Enlarge Name: eurusd_b.jpg Size: 48 KB
-pta-
  • #788
  • Aug 12, 2007 11:47am Aug 12, 2007 11:47am
Thanks Orion
  • #789
  • Aug 12, 2007 9:37pm Aug 12, 2007 9:37pm
Quoting ptaczek
Hello,

while backtesting CF to train my eye, I noticed many times the situation showed on screenshots I took from the backtesting platform.
When Im analyzing offline chart I can see many CF entry points i.e. a pullback to 24ema. Notice the perfect alignment of all three shorter emas.

http://www.cntrade.cz/files/forex/co...r/eurusd_a.gif
[offline chart analyse showing the CornFlower entry point as I understand it]

But in the real-time at the moment when the price is pulling back to the 24ema, the ema is almost always flat at the most recent candle or two and the 8 and 12 emas are almost always pointing the opposite direction. Also an intersection of a candle and 24ema often never occures in real-time, because the moving average is following the price movement and is also pulling back a little.

http://www.cntrade.cz/files/forex/co...r/eurusd_b.gif
[backtest situation showing the same CornFlower entry point at the moment of pullback]

By ignoring this fact and focusing on the direction of the 8, 12 and 24 emas of previous 3-4 candles I was able to take the profit consistently.

pta.

That was a nice statement made regarding the moving averages in real time. There are some who would not regard that little important fact.
  • #790
  • Aug 12, 2007 10:38pm Aug 12, 2007 10:38pm
I have been reading this thread for a few days and did a trade following the method outlined and made 11 pips in AUD/JPY off the 30 min chart. I used a position size based off risk and so 4 lots were used. I could have made more profit if I set my limit with all 4 lots.. But as the author of this thread has stated a profit is a profit. I'm still a little perplexed by the 5min set up.
Check Mate GAME OVER
  • #791
  • Aug 13, 2007 5:59am Aug 13, 2007 5:59am
Quoting bunton
I have been reading this thread for a few days and did a trade following the method outlined and made 11 pips in AUD/JPY off the 30 min chart. I used a position size based off risk and so 4 lots were used. I could have made more profit if I set my limit with all 4 lots.. But as the author of this thread has stated a profit is a profit. I'm still a little perplexed by the 5min set up.
What perplexes you about the 5m set-up?
  • #792
  • Aug 13, 2007 4:49pm Aug 13, 2007 4:49pm
Hey Eyevoltage..

30Min on Cornflower...enter on the 5min. today. Shorted for 19 pip on CAD/JPY and 13 on CHF/JPY in 2 hours starting around 1900 gmt, 1400 lcl.

My daily is 10 pips but it just kept going like the "Energizer Bunny" so I kept taking. Sorry for not following the 10 pip rule Felicia

Felicia.....you are the BOMB (that's a good thing) ....thanks for a great system.

Mike G
  • #793
  • Aug 13, 2007 6:48pm Aug 13, 2007 6:48pm
Quoting eyevoltage
What perplexes you about the 5m set-up?
I have not figured how to use it for entry. I've been using 30/60 min charts and when looking at the 5 it gets a little overwhelming for me. Anyway most USD/CAD gave a 30 min signal and I missed it but I will be looking at the 1 hr to see if a trend change shall occur.
Check Mate GAME OVER
  • #794
  • Aug 14, 2007 4:46am Aug 14, 2007 4:46am
Quoting bunton
Anyway most USD/CAD gave a 30 min signal and I missed it but I will be looking at the 1 hr to see if a trend change shall occur.

The usd.cad trade is higher risk as of late. Sure you might banks some pips, but look at the recent history on the 1h and 4h. There are others that are a lot cleaner.

Just adding my 2 pips,
PH
  • #795
  • Aug 14, 2007 11:06am Aug 14, 2007 11:06am
Quoting pip_hunter
The usd.cad trade is higher risk as of late. Sure you might banks some pips, but look at the recent history on the 1h and 4h. There are others that are a lot cleaner.

Just adding my 2 pips,
PH
Took 17 off USD/CAD and now in USD/CHF looking for 10.
Check Mate GAME OVER
  • #796
  • Aug 14, 2007 11:10am Aug 14, 2007 11:10am
Got my ten and now done for the day..
Check Mate GAME OVER
  • #797
  • Aug 14, 2007 2:17pm Aug 14, 2007 2:17pm
Quoting bunton
Took 17 off USD/CAD and now in USD/CHF looking for 10.
Why are you attaching my post to your scalp trade?

I was simply pointing out that there were other trades available during the time posted with less risk that would have produced significant results.

If you would have paid attention to the rules, you would still be in the this trade and up 70+ pips per unit traded.

Thanks,
PH
  • #798
  • Aug 14, 2007 2:45pm Aug 14, 2007 2:45pm
Sorry dude, that trade was conducted while I was at work and so a 20 pip limit was set.
Check Mate GAME OVER
  • #799
  • Aug 14, 2007 2:47pm Aug 14, 2007 2:47pm
Quoting bunton
Sorry dude, that trade was conducted while I was at work and so a 20 pip limit was set.
Not sure about this posting on forums.. If your offended sorry as this was not my intent.
Check Mate GAME OVER
  • #800
  • Aug 14, 2007 2:48pm Aug 14, 2007 2:48pm
Quoting bunton
Sorry dude, that trade was conducted while I was at work and so a 20 pip limit was set.

Not what I meant?

Your trade had nothing to do with my post and if you think it didn't, you aren't reading what I posted.

Thank you,
PH
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