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Cornflower Hourly System

  • #1,061
  • Oct 3, 2007 9:52am Oct 3, 2007 9:52am
Quoting lifegauge
Someone tell me if this could be another setup on the USD/CHF?

hello, isnt ur fibonacci drawn wrongly? arent u supposed to drag it low to high(up trend) and vice versa?
  • #1,062
  • Oct 3, 2007 8:45pm Oct 3, 2007 8:45pm
Well it has taken a while around work and life but I've managed to read the entire thread and pdf.

Thanks a heap Lever70 for sharing this. I like the simplicity and sound principle this system is based on. I will be using my simulator to manually backtest as many years worth of data as I can fit into 48 straight hours over the weekend! Then it's into "live" demo trading.

I look forward to joining the chat room as time permits too.

One question I do have. Being in Australia I mostly plan to trade the London session during my evenings. However I will have time occasionally to trade the Australian/Asian session during the day. You mention this system providing some strong set ups during the Asian session. Are there any particular pairs that work well during the Asian session and any that should be avoided?

Cheers,
PKFFW
  • #1,063
  • Oct 3, 2007 9:35pm Oct 3, 2007 9:35pm
Hi mates, i have been reading through this thread and have found it intersting, and have actually made sweet 35pips from the last usd/chf rally.Now my problem is i tried downloading the pdf file on the thread but i error message while trying to read it saying it is corrupt, also i read about using macd with the the cornflower set up, i will like to learn more about this. pls i will appreciate it of you mate can be of help. Thanks for your help in advance.
  • #1,064
  • Oct 4, 2007 12:51am Oct 4, 2007 12:51am
I'm thinking of going short the cable (GBP/USD) but am waiting for some confirmation for the pair to break its channel. Might be worth waiting for this even if we had to give up some pips, I think.

What do you think?
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  • #1,065
  • Oct 4, 2007 12:57am Oct 4, 2007 12:57am
On the other pair, USD/CHF... I am looking for a possible long again? It has started forming a new channel so maybe it's a better setup.

Need some comments...
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  • #1,066
  • Oct 4, 2007 1:07am Oct 4, 2007 1:07am
I went short the cable at 2.0309 but am now out at the res line you drew.Cornflower says down, but....it is in an uptrend. My gut says short, but I'm willing to pay for confirmation.I made some on the swissy long,and had another long order in but pulled it. reason being it is in a downtrend and I'd like to see a retest of the 72 on hourly.
FF journal: Peaks and Troffs
  • #1,067
  • Edited Oct 5, 2007 9:18am Oct 4, 2007 1:51pm | Edited Oct 5, 2007 9:18am
Quoting lever70
Still catching up on all of your posts. In the meantime, this is an ideal setup:

http://img528.imageshack.us/img528/8466/eurchfpd5.jpg

I've been looking throughout this thread for various examples of using multiple time frames in our decision to enter a trade (such as the above example). It seems like a really good idea, but the problem is that when the multiple time frames are aligned, will the price have move up too much to be touching the 12 or 24 ema? Therefore it seems that we would rarely - if ever - will be able to enter a true CF trade.

If, for example on a buy trade, the time frames are aligned and the price dips back down to the 12 or 24 ema, then wouldn't at least 1 or more of the time frames be pointing downward and be out of alignment? By using the idea of trading when multiple time frames are aligned, then we would not be able to take the trade if it dips back to touch the 12 or 24 ema. I've see here on this thread to wait until the time frames are aligned and then enter when the 5 min chart is pointing upwards (as in a buy trade). However, at that point when the 5 min chart is pointing upwards then it most likely is not touching the 12 or 24 ema anymore. Isn't that true?

It's a "Catch-22" situation. We'd like to buy when the various multiple time frames are pointing upward, but when they are pointing upward then that most likely means the price has already moved up and away from the 12 and 24 ema. Do you guys see the dilemma?
"Trading is a mental sport." - Ziad Masri
  • #1,068
  • Oct 5, 2007 3:51am Oct 5, 2007 3:51am
Well I've gone through data on the gbp/usd from 1/1/01 to 1/1/03 so far.....2 years!

I wont bother posting any specific details since being a manual backtest my results will differ significantly from what someone else may get. Further to that, I believe that with practice and more experience the results would be even better than what I achieved.

Suffice to say I have found this system to be very solid. A high % win rate and with proper MM will generate good returns.

The only thing I think worth mentioning is to beware when the market is ranging. I did find a period where I had a number of losing trades in a row. Far more than any other period. Upon closer inspection I realised the 4 hour chart was showing a ranging market for the entire period. Having said that, it still would have been a profitable period had I been more diligent in closing out any trade that had gone at least 15 pips into profit before turning around for a loss. I forgot about that tip a few times during my testing.

Once again thanks to Lever70 for sharing this great idea.

Cheers,
PKFFW
  • #1,069
  • Oct 5, 2007 5:17pm Oct 5, 2007 5:17pm
72 pages worth of reading today... No time to digest. Interesting how people have come in, become successful and intelligent about the system and then just disappeared out of the forum. I wionder why??
  • #1,070
  • Oct 5, 2007 6:28pm Oct 5, 2007 6:28pm
Quoting freed14
72 pages worth of reading today... No time to digest. Interesting how people have come in, become successful and intelligent about the system and then just disappeared out of the forum. I wionder why??
Because they're bad, bad people. That's why. :
  • #1,071
  • Oct 5, 2007 7:19pm Oct 5, 2007 7:19pm
Quoting freed14
72 pages worth of reading today... No time to digest. Interesting how people have come in, become successful and intelligent about the system and then just disappeared out of the forum. I wionder why??
lever70 has put together an awesome system. I was just getting messed up with even looking at the ema's and candles.. I know this sounds crazy but it is true. I have never used indicators or candles and so now I'm doing the only thing I know. I've messed around with rsi,cci,macd, and whatever and just get lost.

Just because many do not post does not mean they are not doing well. I know this system will work for many and in fact it has. The rules are spelled out simply.
I look at about 2k charts per day in equity market and give each one about 1-2 sec view time and this candle and ema thing just will not register. I also have never traded anything under a daily chart and that is another challenge for me.

Nothing wrong with taking the CF system and specializing it to your likings. I've seen many who add macd's and other stuff. What is important is you find sumfin your comfortable with and fits.
Check Mate GAME OVER
  • #1,072
  • Oct 6, 2007 1:34pm Oct 6, 2007 1:34pm
So are you saying tha tyou dont use the CF?? And that many charts... Why?? The 14 pairs in the forex are enough for me.


Quoting bunton
lever70 has put together an awesome system. I was just getting messed up with even looking at the ema's and candles.. I know this sounds crazy but it is true. I have never used indicators or candles and so now I'm doing the only thing I know. I've messed around with rsi,cci,macd, and whatever and just get lost.

Just because many do not post does not mean they are not doing well. I know this system will work for many and in fact it has. The rules are spelled out simply.
I look at about 2k charts per day in equity market and give each one about 1-2 sec view time and this candle and ema thing just will not register. I also have never traded anything under a daily chart and that is another challenge for me.

Nothing wrong with taking the CF system and specializing it to your likings. I've seen many who add macd's and other stuff. What is important is you find sumfin your comfortable with and fits.
  • #1,073
  • Oct 6, 2007 4:13pm Oct 6, 2007 4:13pm
Quoting freed14
72 pages worth of reading today... No time to digest. Interesting how people have come in, become successful and intelligent about the system and then just disappeared out of the forum. I wionder why??
I only post when I have something to say (though I check the thread daily.)

I trade for a living, and I incorporated Cornflower into my trading methodology because it is a solid dependable system. The few losses I have had using the system are due to my interpretation of the charts, or to paraphrase Shakespeare, the fault dear traders is not in our charts, but in ourselves (yeah I know,...I'm going to English lit hell for that.)

The real beauty of Cornflower is it is simple to understand. I am using it to teach my three youngest children (8, 10, and 12 years old) how to trade. The older four are already out, and on with their careers and currently not interested in the markets.

Each one of the children has a demo account and when they become proficient trading on the demos, I will open a $300.00 mini account for each child. The rules are simple. At the end of each month, 50% of the profit goes into a savings account (to be rolled into a Roth IRA when large enough to do so) 25% is theirs to spend as they like, and the last 25% stays in the account (in order to increase the number of lots per trade.) If they make bad trades and lose the account, a portion of their allowance will be held back to rebuild the account.

Watching the children working with Cornflower has been an enlightening experience. They follow the rules and wait for the pull back to trade (they misread the charts at times, however, they are getting better with experience.) They do not try to push the trade or jump early. They just follow the rules...The way we all do,....right?
  • #1,074
  • Oct 6, 2007 5:36pm Oct 6, 2007 5:36pm
Quoting Clansman
I only post when I have something to say (though I check the thread daily.)

I trade for a living, and I incorporated Cornflower into my trading methodology because it is a solid dependable system. The few losses I have had using the system are due to my interpretation of the charts, or to paraphrase Shakespeare, the fault dear traders is not in our charts, but in ourselves (yeah I know,...I'm going to English lit hell for that.)

The real beauty of Cornflower is it is simple to understand. I am using it to teach my three youngest children (8, 10, and 12 years old) how to trade. The older four are already out, and on with their careers and currently not interested in the markets.

Each one of the children has a demo account and when they become proficient trading on the demos, I will open a $300.00 mini account for each child. The rules are simple. At the end of each month, 50% of the profit goes into a savings account (to be rolled into a Roth IRA when large enough to do so) 25% is theirs to spend as they like, and the last 25% stays in the account (in order to increase the number of lots per trade.) If they make bad trades and lose the account, a portion of their allowance will be held back to rebuild the account.

Watching the children working with Cornflower has been an enlightening experience. They follow the rules and wait for the pull back to trade (they misread the charts at times, however, they are getting better with experience.) They do not try to push the trade or jump early. They just follow the rules...The way we all do,....right?
Clansman.... You are great dad to give your kids such a gift. Are you adopting?
  • #1,075
  • Oct 7, 2007 12:34am Oct 7, 2007 12:34am
I definetly understand that once you move into the area of a knowledgable trader you dont need to post as much unless you are conducting the forum. But thanks for your reply. I was hoping you were still associated to the forum. ANyway that is brilliant about you teaching your kids at such a young age. Simple brilliant. anyway you should keep us informed on how they do and hopefully I can start to do as well as your 8 year old!!! SHEESH!!!

Quoting Clansman
I only post when I have something to say (though I check the thread daily.)

I trade for a living, and I incorporated Cornflower into my trading methodology because it is a solid dependable system. The few losses I have had using the system are due to my interpretation of the charts, or to paraphrase Shakespeare, the fault dear traders is not in our charts, but in ourselves (yeah I know,...I'm going to English lit hell for that.)

The real beauty of Cornflower is it is simple to understand. I am using it to teach my three youngest children (8, 10, and 12 years old) how to trade. The older four are already out, and on with their careers and currently not interested in the markets.

Each one of the children has a demo account and when they become proficient trading on the demos, I will open a $300.00 mini account for each child. The rules are simple. At the end of each month, 50% of the profit goes into a savings account (to be rolled into a Roth IRA when large enough to do so) 25% is theirs to spend as they like, and the last 25% stays in the account (in order to increase the number of lots per trade.) If they make bad trades and lose the account, a portion of their allowance will be held back to rebuild the account.

Watching the children working with Cornflower has been an enlightening experience. They follow the rules and wait for the pull back to trade (they misread the charts at times, however, they are getting better with experience.) They do not try to push the trade or jump early. They just follow the rules...The way we all do,....right?
  • #1,076
  • Oct 7, 2007 3:31am Oct 7, 2007 3:31am
Quoting Skygod
Clansman.... You are great dad to give your kids such a gift. Are you adopting?
Thanks. I have great children,...even when they are driving me nuts. As for adopting,...well,...do you have references, and can you cut the lawn in a straighter pattern than my 10 year old?
  • #1,077
  • Oct 7, 2007 5:03am Oct 7, 2007 5:03am
Quoting freed14
I definetly understand that once you move into the area of a knowledgable trader you dont need to post as much unless you are conducting the forum. But thanks for your reply. I was hoping you were still associated to the forum. ANyway that is brilliant about you teaching your kids at such a young age. Simple brilliant. anyway you should keep us informed on how they do and hopefully I can start to do as well as your 8 year old!!! SHEESH!!!
Thanks, but I can't take credit for coming up with the idea. It was my 8 year old! He and his siblings have been watching me trade for some time now. One day he asked me when he could start trading. He had his first demo account that day. I will keep you apprised of their progress,...and pass on the lessons I learn from them. Of course they have an advantage over us. To them a chart goes up, down, or sideways because that's what charts do. While we adults tend to over analyze why the charts go up, down, or sideways.
  • #1,078
  • Oct 7, 2007 5:14am Oct 7, 2007 5:14am
Quoting Clansman
I only post when I have something to say (though I check the thread daily.)

I trade for a living, and I incorporated Cornflower into my trading methodology because it is a solid dependable system. The few losses I have had using the system are due to my interpretation of the charts, or to paraphrase Shakespeare, the fault dear traders is not in our charts, but in ourselves (yeah I know,...I'm going to English lit hell for that.)

The real beauty of Cornflower is it is simple to understand. I am using it to teach my three youngest children (8, 10, and 12 years old) how to trade. The older four are already out, and on with their careers and currently not interested in the markets.

Each one of the children has a demo account and when they become proficient trading on the demos, I will open a $300.00 mini account for each child. The rules are simple. At the end of each month, 50% of the profit goes into a savings account (to be rolled into a Roth IRA when large enough to do so) 25% is theirs to spend as they like, and the last 25% stays in the account (in order to increase the number of lots per trade.) If they make bad trades and lose the account, a portion of their allowance will be held back to rebuild the account.

Watching the children working with Cornflower has been an enlightening experience. They follow the rules and wait for the pull back to trade (they misread the charts at times, however, they are getting better with experience.) They do not try to push the trade or jump early. They just follow the rules...The way we all do,....right?
Hey Clansman,

It's fantastic to hear you are still enjoying success with the cornflower system. Your posts and ideas have been particularly enlightening. I would be most interested to hear from time to time how your children progress with the system. It's great to think that an 8, 10 or 12 year old could make money by following a well thought out and sound system. Gives hope to me!

Cheers,
PKFFW
  • #1,079
  • Oct 7, 2007 10:27pm Oct 7, 2007 10:27pm
Inserted Code
72 pages worth of reading today... No time to digest. Interesting how people have come in, become successful and intelligent about the system and then just disappeared out of the forum. I wionder why??

To get the answer to that question have a look at as many of these threads as you can. They all start out as great ideas and end up with everyone going onto the next big thing with one solitary voice inquiring "hello? Does anyone still trade this system?"

People like to think that they are smart and have made a discovery that will change the world. This is why 99% of Forex traders are simply losers.
Trading is not about finding the ultimate system that makes you heaps of cash. It is about being married to a boring screen day in day out making sure you are as strict as a catholic monk. Following your lame plan to the letter.

Then and only then will you make money. The smart ones get as far away from trading whenever they can and simply get it out of the way. Their a hundreds of systems that work out there. Do the backtests. But when you go to trade them live they don't work. Why?

Because they bore the pants off you! If you want to make money trading. Find a plan. Stick to it. Follow your trading plan to the letter. Stay away from Forums. They are full of losers that treat Trading more like playing poker machines than seriously making money. That's why they lose.

Find a system you like. Write a plan that calculates how much you need to invest to make so much a week based on a backtest. Don't be surprised when you make money. Expect it. Follow your plan and instead of hanging out with losers in forums. Sell it. You'll have much more fun than trading. I guarantee it
  • #1,080
  • Oct 8, 2007 1:24am Oct 8, 2007 1:24am
Quoting Pkffw
Hey Clansman,

It's fantastic to hear you are still enjoying success with the cornflower system. Your posts and ideas have been particularly enlightening. I would be most interested to hear from time to time how your children progress with the system. It's great to think that an 8, 10 or 12 year old could make money by following a well thought out and sound system. Gives hope to me!

Cheers,
PKFFW
Thanks PKFFW. I hope some of those ideas are helping put money in your account.

Children see the simplicity in trading, and while it may not be easy,...it is simple. Plan the trade, and trade the plan,...simple, however, waiting for the set up to enter is where the difficulty comes in to play. They accept they have to wait for the charts. They try to check the charts every hour, if they see a possible set up, I have them explain to me what they see and why they should trade or not. Some of the reasoning is interesting to say the least.
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