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Cornflower Hourly System

  • #1,021
  • Sep 20, 2007 4:08pm Sep 20, 2007 4:08pm
Hi lever,
Maybe you can share with us the s/l and p/t you use on 1 H chart?
would be a big help , even something approximate,
thank you very much,
Vanupips
  • #1,022
  • Sep 20, 2007 8:43pm Sep 20, 2007 8:43pm
Protraderfx and Vanupips, welcome to Cornflowerland. There's already a PDF that will answer your questions:

http://www.divshare.com/download/2049791-011

This is a permanent link.
  • #1,023
  • Sep 21, 2007 5:21am Sep 21, 2007 5:21am
Quoting jafar00
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.
Hi Jafar00 could you please tell me which brokers/platform have these pairs

With many thanks
David-T
  • #1,024
  • Sep 21, 2007 10:37am Sep 21, 2007 10:37am
Quoting David-T
Hi Jafar00 could you please tell me which brokers/platform have these pairs

With many thanks
David-T
I use FxEgypt. Most brokers carry at least one of them, but you have to look around to find them, and with 1/2 decent spreads as they can vary a lot.
  • #1,025
  • Sep 22, 2007 11:16pm Sep 22, 2007 11:16pm
Has anyone tried scalping with the Cornflower system using a one minute chart? You can set a 10 pip stop and go for a target of 10 - 20 pips. Or set a 15 pip stop and go for 15 - 20 pips.

One minute scalping with the CF certainly seems do-able. (Or is it "doable"? It's times like these I wish I'd stayed awake in English class...)
"Trading is a mental sport." - Ziad Masri
  • #1,026
  • Sep 23, 2007 5:15am Sep 23, 2007 5:15am
Quoting Quickdraw
Has anyone tried scalping with the Cornflower system using a one minute chart? You can set a 10 pip stop and go for a target of 10 - 20 pips. Or set a 15 pip stop and go for 15 - 20 pips.

One minute scalping with the CF certainly seems do-able. (Or is it "doable"? It's times like these I wish I'd stayed awake in English class...)
If you read thru this thread you will see that Lever70 mention scalping. She also says that she will never ever talk about sclaping anymore in this thread.

But you will see this once you read the thread.

/ JoLi
  • #1,027
  • Sep 23, 2007 8:03am Sep 23, 2007 8:03am
hey all
it's my first time to read this thread
do u recommend the Cornflower method in trading
if so tell me plz to begine studying it
and thx
  • #1,028
  • Sep 23, 2007 9:24am Sep 23, 2007 9:24am
Quoting lever70
Protraderfx and Vanupips, welcome to Cornflowerland. There's already a PDF that will answer your questions:

http://www.divshare.com/download/2049791-011

This is a permanent link.
Hi lever,
I did read carefully all those post, but the only advise you give regarding S/L is that the cross of 12/24 is a sure sign to back out ,and that one should go for a 20 pips profit, and then hold on longer depending on how trade is moving. I understand that there is no fixed rule and it depends on trader, trade, experience... but as you have the most experience from all of us it would help to know what your average s/l and t/p are .
thanks
  • #1,029
  • Sep 23, 2007 3:06pm Sep 23, 2007 3:06pm
Felicia, this is an excellent system. THANK YOU.

Have you tried this system on the e-minis? If so, on which time frame?
Do you need to modify the ema periods?

regards,

Unicorn.
  • #1,030
  • Sep 23, 2007 3:31pm Sep 23, 2007 3:31pm
Quoting eng_forex171
hey all
it's my first time to read this thread
do u recommend the Cornflower method in trading
if so tell me plz to begine studying it
and thx
I have integrated the Cornflower system into my trading methodology. It works for my style of trading. Whether you will find it beneficial or not is dependent on you. I would suggest reading Lever70's rules for trading, as well as the PDF compiled by Bstar. Since the PDF is based in part on postings in this thread, it will save you some time in learning the system. Then read the thread.
  • #1,031
  • Edited 6:06pm Sep 23, 2007 6:03pm | Edited 6:06pm
Quoting Quickdraw
Has anyone tried scalping with the Cornflower system using a one minute chart? You can set a 10 pip stop and go for a target of 10 - 20 pips. Or set a 15 pip stop and go for 15 - 20 pips.

One minute scalping with the CF certainly seems do-able. (Or is it "doable"? It's times like these I wish I'd stayed awake in English class...)
Hey Quickdraw.
In answer to your scalping question, I have been watching and demo-ing both 1m and 5m charts with Cornflower and found them to be very much "do-able"!

The MA's are different from the longer TF's, but I have found that they lend themselves very nicely to scalping. Felicia, by her own admission, likes scalping, but says that Cornflower is intended primarily to be used with the 30m chart (trading breakouts), and the 1H chart (trading pull-backs). At least, that's how I've interpreted her instructions.

To be honest, I've been using both the above ways of trading on the 1m and the 5m charts, usually aiming for around 10 pips at a time, or aiming for the next Pivot line. As with most trading, it's not just taking any trade that comes along, but watching for what could be identified as a high-probability trades. In other words, stick to the basic Cornflower rules, even on these smaller TF's and you'll soon spot the opportunities if you have the patience. These results, by the way, are from trading Cable, as I've found it to be ideal for this type of trading. Even on a quiet day, Cable usually supplies some nice scalping trades.

Anyway, the only way you're going to find out if it's for you, is to jump in and try it, mate. Best of luck.

Cheers
  • #1,032
  • Sep 24, 2007 4:05am Sep 24, 2007 4:05am
i just longed eur/usd at 1.4100 and shorted usd/chf at 1.1719
time now is 0909 GMT

20 pips stop open target.
  • #1,033
  • Sep 25, 2007 6:55am Sep 25, 2007 6:55am
Quoting vanupips
Hi lever,
I did read carefully all those post, but the only advise you give regarding S/L is that the cross of 12/24 is a sure sign to back out ,and that one should go for a 20 pips profit, and then hold on longer depending on how trade is moving. I understand that there is no fixed rule and it depends on trader, trade, experience... but as you have the most experience from all of us it would help to know what your average s/l and t/p are .
thanks
If you have a strong entry, it should never even get near a 15 pip stop loss. I generally use 15 pips, or depending on price action, above/below a res/supp level determined by my own appraisal.
  • #1,034
  • Sep 26, 2007 2:40pm Sep 26, 2007 2:40pm
Quoting vanupips
Hi lever,
I did read carefully all those post, but the only advise you give regarding S/L is that the cross of 12/24 is a sure sign to back out ,and that one should go for a 20 pips profit, and then hold on longer depending on how trade is moving. I understand that there is no fixed rule and it depends on trader, trade, experience... but as you have the most experience from all of us it would help to know what your average s/l and t/p are .
thanks
In post 97, I wrote the following: "if you are trading longer term, 50 pips for cable, 70 for EURJPY and USDJPY, 100 for GBPJPY and GBPCHF, and perhaps 40 pips for the other pairs. When trading longer term, your lot sizes must be smaller to account for the wider stops. The small trade size is compensated by larger pip gains. Preserve your capital."

Though they may seem like large stops, you can't have large gains without attendant risk. And position-sizing and money management are very important.
  • #1,035
  • Sep 28, 2007 8:10am Sep 28, 2007 8:10am
Hello everyone,

I have been reading this thread for a while, and trading this method. I also use phil neal?? macd signal to help me filter good trades from bad. I just did 65 pips from cad/jpy and 45 pips from usd/cad, the news just accelerated the move!

i usually place a few trades after noram close, once things settle down, but beware of placing jpy nzd pairs as i often find u get big position trade movements to knock out your stops, just hold onto your buttocks sometimes!!! Most of my trading is when i get up GMT. I hit my pip target, then off i go to live. If the wife wants a new sofa, i will trade the extra few pips till i get that. Mostly, I compund my account, only taking very little from it. Remember, its not how many pips you get, its the pips value.

I trade for a living so am able to watch my screens throughout the day, thus i dont put limits on, and usually stops of no more than 50. if you get hit on a 50 stop, your either braindead or very unlucky. i use the cornflower method as prescribed by our leader, the hon. vagrant, on a 1 hour chart. i also use a macd (5.13.1). Enter a trade only if a) cornflower rules met, b) macd close higher/lower. Perfect long set up on a pullback is macd below 0.15 -0.30, curved with maybe 5 bars then a higher close, loads of pips as you catch the start of the move, not just a little pullback. Works perfectly with cornflower. For a riskier trade, look for a slight pullback as per cornflower and a continuation on macd, not as many pips but better than a kick in the balls.

Anyway, just did another 30 pips on eur/usd, oh, life is sweet xxx

http://forexfactory.com/images/misc/progress.gif

Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #1,036
  • Sep 28, 2007 2:44pm Sep 28, 2007 2:44pm
Quoting lever70
Protraderfx and Vanupips, welcome to Cornflowerland. There's already a PDF that will answer your questions:

http://www.divshare.com/download/2049791-011

This is a permanent link.
Hi lever,

Thanks for the kind welcome to Cornflowerland and thanks for the link to the PDF file.

Protraderfx
  • #1,037
  • Sep 28, 2007 10:19pm Sep 28, 2007 10:19pm
Awesome simply awesome.
What more could you need.

a touch and bounce off of the 72, if you needed more its also the M2 pivot area, Oh yeah and look at that wick, a great indication which direction its headed.

Wish I could say I caught it all, but I got my pips and was happy.

thx lever70
Attached Image
  • #1,038
  • Sep 29, 2007 12:17am Sep 29, 2007 12:17am
Quoting lever70
Protraderfx and Vanupips, welcome to Cornflowerland.
Hey, Lever, ... I believe I hold the copyright to the word, "Cornflowerland".

I charge 5 pips per use of the word.
"Trading is a mental sport." - Ziad Masri
  • #1,039
  • Edited 2:25pm Oct 1, 2007 2:07pm | Edited 2:25pm
Hi shinny,

Very interesting mod. I know quite a few people use some indicators on this system - in some cases they are very helpful. In this case, would you be willing to post a chart to show an example of the ideal entry signal? Also, I'm not sure your description of the pb macd range is accurate. Even at the extremes my macd settings rarely exceed even .0060 or -.0060...yet you have said that for a long you'll wait for a pb of around .15-.30. Does that mean .0015 - .0030? Perhaps an illustration will save lots of typing... thanks in advance for your help.

EDIT- I think I figured out what you're referreing to shinny. Its the range of the retracement measured using the cursor... correct? A chart would still help... hehe.

Joe


Quoting shinny
Hello everyone,

I have been reading this thread for a while, and trading this method. I also use phil neal?? macd signal to help me filter good trades from bad. I just did 65 pips from cad/jpy and 45 pips from usd/cad, the news just accelerated the move!

i usually place a few trades after noram close, once things settle down, but beware of placing jpy nzd pairs as i often find u get big position trade movements to knock out your stops, just hold onto your buttocks sometimes!!! Most of my trading is when i get up GMT. I hit my pip target, then off i go to live. If the wife wants a new sofa, i will trade the extra few pips till i get that. Mostly, I compund my account, only taking very little from it. Remember, its not how many pips you get, its the pips value.

I trade for a living so am able to watch my screens throughout the day, thus i dont put limits on, and usually stops of no more than 50. if you get hit on a 50 stop, your either braindead or very unlucky. i use the cornflower method as prescribed by our leader, the hon. vagrant, on a 1 hour chart. i also use a macd (5.13.1). Enter a trade only if a) cornflower rules met, b) macd close higher/lower. Perfect long set up on a pullback is macd below 0.15 -0.30, curved with maybe 5 bars then a higher close, loads of pips as you catch the start of the move, not just a little pullback. Works perfectly with cornflower. For a riskier trade, look for a slight pullback as per cornflower and a continuation on macd, not as many pips but better than a kick in the balls.



Anyway, just did another 30 pips on eur/usd, oh, life is sweet xxx

http://forexfactory.com/images/misc/progress.gif

  • #1,040
  • Oct 1, 2007 2:46pm Oct 1, 2007 2:46pm
Quoting jsmanuse
Hi shinny,

Very interesting mod. I know quite a few people use some indicators on this system - in some cases they are very helpful. In this case, would you be willing to post a chart to show an example of the ideal entry signal? Also, I'm not sure your description of the pb macd range is accurate. Even at the extremes my macd settings rarely exceed even .0060 or -.0060...yet you have said that for a long you'll wait for a pb of around .15-.30. Does that mean .0015 - .0030? Perhaps an illustration will save lots of typing... thanks in advance for your help.

EDIT- I think I figured out what you're referreing to shinny. Its the range of the retracement measured using the cursor... correct? A chart would still help... hehe.

Joe
Hi Joe, Yes you have it. Look at Philip Nel's thread on macd entry, i think combining that with the cornflower is as near to perfection as you will get. I dont normally trade too much on a monday, but had 70 pips of nzd/usd and 35 pips of eurchf and 25 pips of euraud today. Not a bad day!

The age old saying of buy dips and sell rallies fith perfectly with this system and my style. The MACD just helps with confirmation of a resumption in the trend after a dip or rally. I scan the hourly charts, looking for a reversal, then use 5 and 15 minute charts to time my entry (i find the 15 min better). If timed right, you rarely get more than 15 pips against you, and i dont think I have had more than 20, which is nice.

How do I post a chart??

Cheers and long live the pips!!!

Shinny
Nobody can be told what The Matrix is. You'll have to see it yourself.
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