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Cornflower Hourly System

  • #1,001
  • Sep 18, 2007 10:37pm Sep 18, 2007 10:37pm
Quoting bunton
Clansman, great link and explanation of the macd.. thanks for posting it. I have herd about a macd but never set it up on my charts. I swing trade equities and don't use any indicators or moving averages. But this is all done from a daily chart and so working with anything less then a daily has been a challenge for me.

Tonight I've done 3 trades AUD/JPY closes with a profit. Current open trades are EUR/USD long and USD/CHF short. They did not pull back as much as I'd like but the 5 min chart was telling me a trend my be resuming. We shall see what happens
bunton,

I'm glad to hear you closed a profitable trade and have two more on the way. Looking at the charts I posted earlier today, you will see the trend does start on the 5M chart and builds from there. I used the 5M, 15M, and the 30M charts to confirm my position on the 1H chart.

Good luck with your trades tonight.

Remember,...the early bird may catch the worm,....but it's the second mouse that gets the cheese!
  • #1,002
  • Sep 18, 2007 10:42pm Sep 18, 2007 10:42pm
Quoting Clansman
bunton,

I'm glad to hear you closed a profitable trade and have two more on the way. Looking at the charts I posted earlier today, you will see the trend does start on the 5M chart and builds from there. I used the 5M, 15M, and the 30M charts to confirm my position on the 1H chart.

Good luck with your trades tonight.

Remember,...the early bird may catch the worm,....but it's the second mouse that gets the cheese!
Clansmen, thanks for your kind words. I've got limits set on both at 15 points and then should this happen I'll move the rest to B/E. I wish not too push me luck!! lol
Check Mate GAME OVER
  • #1,003
  • Sep 18, 2007 10:52pm Sep 18, 2007 10:52pm
Quoting bunton
Clansmen, thanks for your kind words. I've got limits set on both at 15 points and then should this happen I'll move the rest to B/E. I wish not too push me luck!! lol
Your welcome. Let us know how your trades went.
  • #1,004
  • Sep 19, 2007 7:09am Sep 19, 2007 7:09am
Quoting Clansman
Your welcome. Let us know how your trades went.
Clansmen, my target got hit in the overnight and USD/CHF still open. I just entered EUR/USD long again in a P/B as per CF-Zone.
Check Mate GAME OVER
  • #1,005
  • Sep 19, 2007 8:25am Sep 19, 2007 8:25am
Quoting bunton
Clansmen, my target got hit in the overnight and USD/CHF still open. I just entered EUR/USD long again in a P/B as per CF-Zone.
Cool...sounds like your back on the horse.
  • #1,006
  • Sep 19, 2007 9:35am Sep 19, 2007 9:35am
Thank you Felicia for sharing CF. I'm in the process of opening an live account as I have been paper trading this for the last two months, mostly EUR/USD. Feels like I've taken a cram semester in learning forex since the end of April when I was laid off my job and took a part time position...which allowed me the time to cram.
Not until I found CF did I feel like I found a home with forex, even after trying Phillip Nels system before I found CF.
Thanks to everyone who has posted here for it has definitely shortened my learning curve.
The only indicator I use with this is the stochs just for overbought/sold area but the main thing that has really helped me is learning to read the ins and outs of the candlesticks and S/R, not to mention patience.
My plan now is to be successful at this and quit my part time job, then be able to get back to my art, writing, and maybe even some golf. With everyones help here I see it happening. OK,OK enough of the testimonial, if I have anything I can contribute to help anyone I will definitely do so. To be honest though, the simplicity is what attracted me to CF so adding anything to CF kind of defeats its beauty.

BTW Clansman I absolutely love your quote...when people ask me about forex that's how I describe it.
  • #1,007
  • Sep 19, 2007 12:42pm Sep 19, 2007 12:42pm
I've been noticing sumfin with this pattern that appears time and time again. I think it might be worth studying. Notice the red circles on my chart. This price action tells me price has been rejected 2 times and failed to get back to prior highs the 3rd. One could simply beware of double tops or other ta chart patterns.

Price did offer a CF trade off the 24ema. I took this trade and my limit was missed by a few pips because it never got back too the prior top. Be cautious anytime price stalls at highs. Sumfin I contemplating is setting my limit just under highs.. Not sure if this helps but just wanted too post it..

http://img406.imageshack.us/img406/6221/eurusdsc2.png
Check Mate GAME OVER
  • #1,008
  • Sep 19, 2007 12:58pm Sep 19, 2007 12:58pm
Quoting Quickdraw
Hi lever,

The point of my previous post was to point out how nobody lately - for a while now - has talked about their successes with the Cornflower. I see a lot of posts of people trying to make the Cornflower better (by using various indicators, ect.), but very, very few posts of late telling of any successes they've had with the CF system. I had found that odd because I figured people would be happily posting their successes, instead of posting of ways to make the CF work better.

I'm not making any allegations that the CF doesn't work, I'm just curious for the reasons I've stated.
I guess we are all too busy making money

In reality, the system needs no additions to work. All you need to do is develop the patience, and the willpower to trade only strong setups and avoid the weak ones or making trades, just to be in the market.

In recent weeks, I have discovered 2 nice pairs to trade CF with.

First is GBP/NZD. Despite the usually horrendous spread of around 30-35 pips at most brokers that even carry this pair, the results can be enormous.

Use a 100pip stop, targets 300-500 pips, move stop to break even at +70-+80, trail 120pips or greater. This is a fantastic pair to trade and in my opinion, the only way to trade NZD.

The second pair is GBP/CAD. With a much nicer spread of 10 pips, this one can also pick up a great number of pips. Also, with CAD being such a nice trending currency, you can pick up long runs using Cornflower. Anywhere from 100-300 pips per day is possible with this pair.

Try both pairs on demo for a couple of weeks to get a feel for them. I think you will agree they are quite remarkable.
  • #1,009
  • Sep 19, 2007 1:57pm Sep 19, 2007 1:57pm
jafar00, wrote>>>> "In reality, the system needs no additions to work. All you need to do is develop the patience, and the willpower to trade only strong setups and avoid the weak ones or making trades, just to be in the market."<<<<<

I'm doing a study of what I think might be a higher probability trade with the CF. It is simple. Just take the first P/B into the zone. It seems this gives a higher probability. Once it founders and flops around the probability is reduced.

I'm long AUD/JPY out of the CF it is up 20 points as of typing this. My target is shy of last high..
Check Mate GAME OVER
  • #1,010
  • Sep 19, 2007 2:09pm Sep 19, 2007 2:09pm
I'm thinking GBP/USD is in a first P/B for a short. Only thing I don't like the action of the ema's. I'll let this one go but will watch it..
Check Mate GAME OVER
  • #1,011
  • Sep 19, 2007 3:30pm Sep 19, 2007 3:30pm
Me CF trade on AUD/JPY has met my target and so I closed it with a nice little profit. As per my chart above even though EUR/USD is a CF set up I don't like the lower highs and so passed on the signal.
Check Mate GAME OVER
  • #1,012
  • Sep 19, 2007 3:50pm Sep 19, 2007 3:50pm
http://img119.imageshack.us/img119/3862/audjpyur0.png

We had 2 signals in AUD/JPY. The 99.09 area was the first zone that needed to get breached for da bulls. Price did break through and this trade would have booked some nice gains.

The next set up shows that the bull task is to bust through 99.65. Bear task is to take it under 99.09. Caution needs to be in place for a stall prior to highs. In this example the highest probability setup was the first P/B into the zone. The 2nd setup is valid and this is the one I took as I missed the first one.
Check Mate GAME OVER
  • #1,013
  • Sep 19, 2007 5:50pm Sep 19, 2007 5:50pm
I'm thinking NZD/USD may be worth keeping an eye on too see if we get a trend resumption. It is currently in the CF Zone..
Check Mate GAME OVER
  • #1,014
  • Sep 19, 2007 6:33pm Sep 19, 2007 6:33pm
Somebody had posted the cf value for the 4H time frame. Cant find it now? would anybody post them again please? Thanks
  • #1,015
  • Sep 19, 2007 7:32pm Sep 19, 2007 7:32pm
Quoting rck66
Somebody had posted the cf value for the 4H time frame. Cant find it now? would anybody post them again please? Thanks
The ema's are 10, 15, 30, and 90. Bullrock calculated these figures. I have been forward testing them and they appear to have very good potential.
  • #1,016
  • Sep 19, 2007 7:33pm Sep 19, 2007 7:33pm
Quoting jagline
BTW Clansman I absolutely love your quote...when people ask me about forex that's how I describe it.
Thanks,...welcome to the dance.
  • #1,017
  • Sep 19, 2007 7:37pm Sep 19, 2007 7:37pm
Quoting bunton
Me CF trade on AUD/JPY has met my target and so I closed it with a nice little profit. As per my chart above even though EUR/USD is a CF set up I don't like the lower highs and so passed on the signal.
Well,...it not only looks like you got back on the horse,...but you are starting to gallop.
  • #1,018
  • Sep 19, 2007 7:45pm Sep 19, 2007 7:45pm
Quoting Clansman
Well,...it not only looks like you got back on the horse,...but you are starting to gallop.
Well Clansmen not sure about that but this week has been better since i stopped forcing the trades and trading purely off a 5m chart. Like Lever said, 5m charts are for the more experienced traders. I closed out my last trade in NZD/USD for a little profit and so I'm done for the day. It seems like most pairs I watch all the ema's are converging and so I'll keep an eye on things..
Check Mate GAME OVER
  • #1,019
  • Sep 19, 2007 8:04pm Sep 19, 2007 8:04pm
Quoting bunton
Well Clansmen not sure about that but this week has been better since i stopped forcing the trades and trading purely off a 5m chart. Like Lever said, 5m charts are for the more experienced traders. I closed out my last trade in NZD/USD for a little profit and so I'm done for the day. It seems like most pairs I watch all the ema's are converging and so I'll keep an eye on things..
Ending the day on a profit is always a good way to end the day!
  • #1,020
  • Sep 20, 2007 1:16pm Sep 20, 2007 1:16pm
Hi lever,

You've done a great job in introducing the Cornflower trading system to this forum.

I'm very new to trading. Only two months familiarity with MetaTrader4.

If you have the time available, could you create a PDF document that describes in very simple language how the CF system works? A simple step-by-step reference guide with illustrated chart examples would be very helpful for newbies such as myself.

Please let me know what you think.

Keep up your excellent work.

Regards,
David

Quoting lever70
Hi everyone. Clansman is right; the start of a new term is always a very busy time for me, and I have not been paying much attention to the thread or the markets in general. There's nothing wrong with Cornflower. The system is sound and has continued to yield consistent profits. I will try and chime in more frequently. However, I have not felt a need to post regularly of late because of the excellent contributions that many of you continue to make. Please keep up your good work.

One thing: please try and avoid sending me PMs. It is hard enough to keep up with the thread, and there really isn't anything that can't be shared publicly.
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