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Cornflower Hourly System

  • #921
  • Aug 24, 2007 7:07am Aug 24, 2007 7:07am
Many thanks indeed for your most interesting and informative reply to my query regarding your AUD/JPY trade yesterday.

I hope you don't mind, but I've saved your reply, along with your equally interesting response to Apuma, to a separate file so that I can peruse it at my leisure.

Thanks again, mate. Honestly, the kindness and willingness to help the less knowledgeable on these forums sometimes takes my breath away.

Cheers
  • #922
  • Aug 24, 2007 7:21am Aug 24, 2007 7:21am
Quoting Clansman
Hey Bunton,

I use the Cornflower 8,12,24,and 72 ema's on my 5M chart. Retracements start to happen on the lower time frame charts. I use the 15M charts for trade entries and exits (less whipsaws.) I use the 5M charts to clarify any rapid price action on the 15M charts. One of the things I look for is a consistency of the ema's between the Hourly, 30M, 15M, and 5M charts. I also use my pivot points to see where price is on the charts (pivot points are like working with a topo map...it lets you see the terrain in advance.)

Hope that helps.
Clansman, thank you sir..
Check Mate GAME OVER
  • #923
  • Aug 24, 2007 1:27pm Aug 24, 2007 1:27pm
Thanks a ton maite!
Really appreciate your responses

BTW, I got ma first major demo pipfall (like rainfall, snowfall, etc.) ... as I write this, I am +77 pips on EUR/USD.

I am thinking that I will let it remain with an SL of (Price - 25) over the weekend and see what happens as the new week starts. How has the week been for others around here?

Thanks everyone, have a great weekend!
-A.


Quoting Clansman
When I started trading, I had a day job (one that required I work a 12 hour day and be on call 24/7 to handle any client problems) and was only able to do one trade a day. I now trade full time. Yes I am a day trader now, however, I have been looking into switching into long term trades.

I live on the West Coast as well. I trade the Asian and London sessions. Tokyo opens at 1600 PT and London at 0000 PT. The Asian session is not as volatile as the London session. There is action around the London session opening most days (usually around 2300 PT to 0100 PT.) Another active time is between 0500 PT and 0900 PT.

The markets are going to be a little squirrelly now (I have attached a couple of links from the forum that give analysis on what is expected in the markets.)

http://www.forexfactory.com/news.php?do=news&id=43992

http://www.forexfactory.com/news.php?do=news&id=4397

http://www.forexfactory.com/news.php?do=news&id=44009

These are located on the Forex Factory calendar page.

I hope this helps.
  • #924
  • Aug 24, 2007 2:26pm Aug 24, 2007 2:26pm
Hi ya everyone,

I was wondering if there was a template for this method that i could load onto MT4 or if someone could please load one up for me it would be much appreciated thank you..

Adrian
  • #925
  • Aug 24, 2007 3:15pm Aug 24, 2007 3:15pm
Hello buddy,

While there may be other templates for CF around, here is what I use... feel free to load it to MT4 and play around with it...

Enjoy!
-A.


Quoting aarangio
Hi ya everyone,

I was wondering if there was a template for this method that i could load onto MT4 or if someone could please load one up for me it would be much appreciated thank you..

Adrian
Attached File(s)
File Type: tpl cornflower.tpl   2 KB | 1,206 downloads
  • #926
  • Aug 24, 2007 3:24pm Aug 24, 2007 3:24pm
Quoting apume
Thanks a ton maite!
Really appreciate your responses

BTW, I got ma first major demo pipfall (like rainfall, snowfall, etc.) ... as I write this, I am +77 pips on EUR/USD.

I am thinking that I will let it remain with an SL of (Price - 25) over the weekend and see what happens as the new week starts. How has the week been for others around here?

Thanks everyone, have a great weekend!
-A.
apume, that is awesome. I only took one trade late last night in USD/CAD for 27. WOW those JPY pairs have been on fire.. I'm in caution mode on the JPY's right now. Daily shows retrace and not sure if another leg down is looming. Anyone care to comment on the JPY pairs?
Check Mate GAME OVER
  • #927
  • Aug 24, 2007 3:29pm Aug 24, 2007 3:29pm
Hi ya Apume,

Brilliant thanks for that ....

Just wondering do you add any thing else to the chart when you trade or do you leave it nice and simple like that and trade only from that information on the chart? also would you change the time frame on that chart to a 15min etc.. before you trade from that or stick to the 1 hour only for every thing?

BIG thanks,
Adrian
  • #928
  • Aug 24, 2007 3:34pm Aug 24, 2007 3:34pm
Hmmm... looked at it and you are right! They are just going crazy... from the little reading that I have done ... I can notice one thing which is - the downtrends are big and sudden whereas the uptrends are gradual and taking some effort!

Someone had suggested that during this kind of behavior it is better to trade the trend which shows a stronger behavior (downtrend in this case). Experts out there - any comments? Folks who are good at fundamentals - any comments?

I still think that as best practice dictates, we can make some pips out of the daily trends and going to shorter TFs... what say guys?

-A.


Quoting bunton
apume, that is awesome. I only took one trade late last night in USD/CAD for 27. WOW those JPY pairs have been on fire.. I'm in caution mode on the JPY's right now. Daily shows retrace and not sure if another leg down is looming. Anyone care to comment on the JPY pairs?
  • #929
  • Edited 3:44pm Aug 24, 2007 3:41pm | Edited 3:44pm
Maite,

Go up a few posts and follow Clansman's advice - that sounds very logical and promising.

Although I should not be polluting this thread with my experiments ... for this particular EUR/USD trade that I took - I looked at the daily, 4H, 1H, 30M, 15M and 5M charts... Long'ed at a pullback and put a big enough SL and let it run through the night... the morning was demo-happy!

I should tell you one thing though - like most experts leave their computer (or so it seems to me) and are confident that CF will work - I was watching the price action like every hour or so and for quite some time the price was just dilly dallying around a certain point during Asian session... before and during the London session the EUR/USD shot up! So while you may be seeing the price go down a bit, go up a bit and do that salsa dance - it could be readying up for some acrobatics!

Although I see the EUR/USD coming down, I still have the urge to wait it out over the weekend and see what happens to it, which I should not be doing even if its a demo account - but sometimes, I break rules .

More ranting when I gain/lose some more pips
Take care,
-A.

PS: To answer your question - I do look at all possible TFs leaving the chart clean like that for all of them. The only one additional thing that I sometimes put in is the Zigzag indicator which kinda gives you some visual direction of the trend flow, but that is not prescribed by CF.


Quoting aarangio
Hi ya Apume,

Brilliant thanks for that ....

Just wondering do you add any thing else to the chart when you trade or do you leave it nice and simple like that and trade only from that information on the chart? also would you change the time frame on that chart to a 15min etc.. before you trade from that or stick to the 1 hour only for every thing?

BIG thanks,
Adrian
  • #930
  • Aug 24, 2007 8:37pm Aug 24, 2007 8:37pm
Hi ya Apume,

Thank you very much once again for your help and advice ,

Adrian
  • #931
  • Aug 24, 2007 9:46pm Aug 24, 2007 9:46pm
Quoting eyevoltage
Many thanks indeed for your most interesting and informative reply to my query regarding your AUD/JPY trade yesterday.

I hope you don't mind, but I've saved your reply, along with your equally interesting response to Apuma, to a separate file so that I can peruse it at my leisure.

Thanks again, mate. Honestly, the kindness and willingness to help the less knowledgeable on these forums sometimes takes my breath away.

Cheers
Your welcome eyevoltage.

Anything I say on this forum becomes public property. If you want to save a post for your own use, go ahead,...after all, it belongs to you.

As the man said...."Cast your bread upon the waters, and it will come back a thousand fold." Most people don't understand...he wasn't talking about soggy bread.
  • #932
  • Aug 24, 2007 9:50pm Aug 24, 2007 9:50pm
I am learning too... so chip in and we all will together grow our learning. To be honest with you... I started into FX with the intention of earning money (am sure others do so too)... but as I started reading more about the "life" that a pair has, its movements, its habits, its quirks, its choices, its everything - I got more interested in the math, in the context of the pair and in the beauty of the game more than anything else...

I haven't earned any real money... only gained and lost some demo pips, but nevertheless, I am intrigued by the liveliness of these supposedly non-living currency pairs!

Lets get into the world of these pairs, understand them and then I am sure - they will certainly be friendlier to you than ever before .

Take care buddy, have a good weekend!
-A.



Quoting aarangio
Hi ya Apume,

Thank you very much once again for your help and advice ,

Adrian
  • #933
  • Aug 24, 2007 9:53pm Aug 24, 2007 9:53pm
Quoting apume
I am learning too... so chip in and we all will together grow our learning. To be honest with you... I started into FX with the intention of earning money (am sure others do so too)... but as I started reading more about the "life" that a pair has, its movements, its habits, its quirks, its choices, its everything - I got more interested in the math, in the context of the pair and in the beauty of the game more than anything else...

I haven't earned any real money... only gained and lost some demo pips, but nevertheless, I am intrigued by the liveliness of these supposedly non-living currency pairs!

Lets get into the world of these pairs, understand them and then I am sure - they will certainly be friendlier to you than ever before .

Take care buddy, have a good weekend!
-A.
Well said!
  • #934
  • Edited 11:13am Aug 25, 2007 4:14am | Edited 11:13am
Hi,

I realy enjoyed going through this excellent thread with all the valuable inputs. Thank you Lever for sharing your strategy.

Just wanted to add my small input which I use with this setup just to give me exit and re-enter points to gain the most of a trend.

I added the "Signal Line" indecator. I enter with the rules of the CF on the Hour and keep an eye on the "Signal Line" on the 30min for any change in direction. When in a Long trade, I'll TP and exit at the change in direction on the signal line on 30min (color change should stay for at least one candle).

I'll wait until price bounces from any EMA and "re-enter" again.

Chart with explanation attached.

http://i6.photobucket.com/albums/y23...g?t=1188057928


Happy pipping.
TS
Attached File(s)
File Type: mq4 Signal Line.mq4   4 KB | 1,072 downloads
  • #935
  • Aug 25, 2007 2:44pm Aug 25, 2007 2:44pm
Hello

I am newbie and am thru page 15 reading ur thread. I think this is the system that i'm going to learn till i'm good enough at it. No more looking or trying evry system that i came across out there.

Sorry English is not my mother tongue. Good work and keep up the good work
  • #936
  • Aug 25, 2007 3:02pm Aug 25, 2007 3:02pm
Quoting arhemsi
Hello

I am newbie and am thru page 15 reading ur thread. I think this is the system that i'm going to learn till i'm good enough at it. No more looking or trying evry system that i came across out there.

Sorry English is not my mother tongue. Good work and keep up the good work
Welcome arhemsi,

That is wise of you to settle on a system and study it until you are comfortable trading with it. Once you have mastered one system and made it part of you, then you can add or take away from it as suits your trading style.

Lever70's Cornflower system is very good system for trending and ranging markets. It is simple and very clean in its approach to trading.

Good luck with your studies.
  • #937
  • Aug 26, 2007 3:24am Aug 26, 2007 3:24am
Nice to see everybody taking benefit of this strategy.i shall like to learn it too.

Going thru this thread i have found things very jumbled up.The things whichi have been able to make out is as follows

1) if all ema's cross 72ema down take short and if they cross above take long (though i am not still clear of exit when to exit or where to place tp limit)

2)if trend is up and price line falls to 12 or 24ema take long too or vice versa in case of short but here too exit strategy maybe seeing when peice has reached to 8ema is exit.

signal line indicator looks great( to trendspider) does it alone encompasses all aspects of this strategy ?

I certainly like to learn if anybody can summarize in one post i will be obliged

thanks in advance
  • #938
  • Aug 26, 2007 2:32pm Aug 26, 2007 2:32pm
Slow weekend... kind of bored, so I'll stop lurking and come out of the bushes and I'll try taking a crack at this question...

Quoting mansaf6
1) if all ema's cross 72ema down take short and if they cross above take long (though i am not still clear of exit when to exit or where to place tp limit)
This system doesn't react to EMA crosses. It reacts to price action in relation to EMAs and uses EMA position to dictate trend. While it's true that short EMAs crossing up through the 72 EMA would signal the beginning of an uptrend, nothing is done unless price action confirms a bullish move (i.e. a strong bull candle on the 30 min chart piercing the 72 EMA with the other EMAs above the 72 EMA would be an aggressive buy signal)

Quoting mansaf6

signal line indicator looks great( to trendspider) does it alone encompasses all aspects of this strategy ?

I certainly like to learn if anybody can summarize in one post i will be obliged

thanks in advance
As I interpret it, there is no "indicator" that encompasses this system. In fact, this system is an indicator free system that is controlled by price action and trend, with all signals being based on price action alone. I have no idea what the "signal line indicator" is, so I could be wrong, but you really don't need an indicator to make this system work for you.

If you're still not getting this, I suggest you reread the posts again... slowly... (especially the ones written by Felicia) because I think they are VERY clearly written.

That aside, I'd like to thank Felicia for reintroducing me to a slightly more "purist" method of trading. It's been years since I've started trading and somewhere along the way, I found a path that led me away from my "purist" trading methods and started relying on indicators to make decisions for me. After finding this thread, I've regained my interest in watching price bars and am going back to my old ways. Cheers!
  • #939
  • Aug 26, 2007 5:56pm Aug 26, 2007 5:56pm
Quoting mansaf6
Nice to see everybody taking benefit of this strategy.i shall like to learn it too.

Going thru this thread i have found things very jumbled up.The things whichi have been able to make out is as follows

1) if all ema's cross 72ema down take short and if they cross above take long (though i am not still clear of exit when to exit or where to place tp limit)

2)if trend is up and price line falls to 12 or 24ema take long too or vice versa in case of short but here too exit strategy maybe seeing when peice has reached to 8ema is exit.

signal line indicator looks great( to trendspider) does it alone encompasses all aspects of this strategy ?

I certainly like to learn if anybody can summarize in one post i will be obliged

thanks in advance
Hello mansaf6,

I would suggest downloading the PDF document BStar compiled from the writings on this thread. It does an excellent job of explaining the Cornflower system (complete with charts.) The Document can be found on page 50 in Lever70's post #746, and jafar00's post #747. I have linked the page below.


http://www.forexfactory.com/showthre...=26205&page=50
  • #940
  • Aug 27, 2007 10:03pm Aug 27, 2007 10:03pm
Hope all is well with everyone. I'm looking at a possible CF trying to forum on USD/CAD.
Check Mate GAME OVER
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