Cornflower Hourly System

Quoting taunted

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Thank u to felicia for posting nice system

just want to what do u think bout this trade, this is a loss trade, i know this system not a holy grail, just want to know what do u think

price already at 12-24 ema area

entry long at the opening candle yellow arrow, would u take this trade or not felicia?

Rgrds
Ernest -

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Quoting Gazmanfx

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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

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Quoting lever70

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Good question. I would say the following:

1) Flattening EMAs are never a good sign. It means price action is stalling. You want a well-oiled Jaguar, not a Dodge Dart.

2) A chart whose EMAs fit the criteria, yet whose pattern is sloppy and ill-defined. You want nice, steady movement.

3) Long wicks all over the place. Wicks pointing against the direction of your trade is a good thing; it indicates that price successfully repelled an area of potential supply, with ample buyers stepping in. Long wicks in both directions means that the market is undecided as to what the price should be, so you have traders buying and selling and scalping and generally passing the crack pipe. Crack is wack.

4) A strong candle close that causes the 8 and 12 EMAs to point opposite the direction of your trade. Stay out.

5) Short EMAs stacked opposite to the direction of the 72 EMA. Stay out.

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Quoting Clansman

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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?

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Quoting depictureboy

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Instead of a roth, why dont you sock it away into a 529 plan?

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Quoting Clansman

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It is my understanding that a 529 is geared more toward college expenses and not retirement. While the Roth is geared toward retirement. Our priority for our children is starting a retirement vehicle for them. We are working in another direction for their educational needs. Two of the four older children chose college, while the other two chose careers in the locksmithing industry. All four have started retirement plans. I believe formal education is important, however, I also believe being able to earn a good living (through whatever career a person chooses) and handle one's personal finances is key to living one's life free of dependence on others.

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