Cornflower Hourly System

Quoting ghous

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ok i have another qs, if somebody can answer...

i was studying the long term entry, so called the initial entry, but i am just a bit confused, Lever70 earlier mentioned that it's best worked on the 30 min, the exit is very clear to me i am confused on the entry... do i take it when the candle moved above or below the 72 ema with authority or do i enter when the 12 and the 24 ema cross?? on many occasions i saw that the ema's will cross but the trend won't develop but retrace all the way back to the 72 ema...if somebody trades the longer term trades (aiming for three figure pips) can you assist me?

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Quoting Clansman

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I wait until the candle closes after crossing the 72 ema. I prefer to see it close with at least 25% of the body of the candle on the closure side of the ema.

The direction and separation of the ema's are as important as the retracement. If the ema's are lined up and headed in the same direction, then there is a better chance of the trend continuing. If the ema's are bunched up and running flat or crossing over, the trend is not as strong. The steeper the angle of the ema's the stronger the trend. Also, the steeper the angle, the less the retracement.

When I first started looking at the Cornflower system, I put four charts up side-by-side (Hourly, 30M, 15M, and 5M.) Each with the four ema's. I then studied the charts and their relation to price action. Patterns start to stand out after a bit of study.

I hope the above was of help to you.

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Quoting ghous

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i understand your question dpfuller, this was my problem when i first started off with this system, it has something to do with your "feel" for the system which you tend to attain once you have spent some time with this system. for now you just need to know that you want the price to "settle" between the 8 and the 24 ema's which means it could be somewhere between 8 and 12, or maybe on the 12 or right at the 24 ema.

let me give you a few hints that will help you on your way

1) newly build trends will tend to pull back right off the 8 ema if the trned is strong and showing good signs of staying for some time.

2) mature trends will often find the support at the 12 ema or somewhere between the 12 and the 24 ema

3) exhausted trends will often look to sneak right through the 24 ema (represented by long wicks below the 24 ema by a candle or an actual close below it...note: the pull back mgith still occur but an entry at this stage will be riskier)

4) always enter at the start of the new candle don't be greedy, if you have missed the pullback candle look for other pairs, don't try to force your pips and squeeze them in your palm...they will work like fine sand, the more you press the more it slips through you fingers...

5) right so we enter at 00:00 of the new candle...?? wrong. you wait for atleast 5 mins of the 1 hour candle to see where the orice wants to go, again that helps in filtering some of the bad trades...if within 5 minutes you don't see a positve pullback sign wait further which will sometimes last the entire candle and we enter on the next candle

6) as a beginner keep the aggressive entry of this system out of your head, this is how i made majority of my losses when i first started off with this system....note: by new i mean new to the system and not to forex trading necessarily...

7) Look at multiple Time Frames pleeeeze!!!!! this may seem tiring, but it is very very important, you need to have all the four ema's on more then just the 30 min and the 1H Tf. i use it on the 4H and the daily too. once you do it you'll notice that all of these pullbacks and CF features also occur on these larger TF's....sometimes you see a clear trend on the 30 min and the 1H yet the price goes against you...why? many a times the price found the 72 ema on the 4H which was nowheer near the price in the lower TF's!!! there are many other times when you'll see that the price actually wants to follow the larger TF's as well so do use them.

8) if possible just do place another ema which is the 365 ema (applied to close) on all of these TF's....the reason is the price will "always" and no that's not an exaggeration...the price will always show respect to it, no matter what, if not right on it somewhere around it...it's very veryt powerful so do have this special ema to complement your 4 CF ema's too

i think that's it, as you go deeper into the system you'll see how good it is, and it has much more to it then just this....i.e the pullback entry and the aggressive entry. you can use it in many other ways and in every system!

Regards,
Ghous

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Quoting emt2ed1

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Hi all. I like this system. On the picture attached, would this be considered a valid sell signal.

thanks, and excellent job on this
Ed

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Quoting shaltrade

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Hello All -

I have been reading through the Cornflower H1 system for the past month. Went through the whole thread and backtested results on various currency pairs.

I used a sample $600 account for backtesting
Here are my results:

EURUSD : Consistently good results, doubled the account in some months. 75%-85% winning ratio

GBPUSD: Drove account to zero by just following the rules. Only 35% winnign ratio
But - but when I looked for confirmation on multiple timeframes (M1,5,15 & 30) before entering, the results turned quite positive. 65% winning ratio

USDCHF: Fairly good results, though drawdowns can be as much as 50%. 45%-50% winning ratio

USDJPY &GBPJPY : No matter what I do, it always drives my account to zero. (

Now the question is - what can I do to improve on the yen pairs - so that CF gives uniformly positive results across the board?
Does anyone have similar experience?
How do If I play around with the EMA's specifically for the yen pairs - without getting into the curve fitting world?

Overall - I found the CF much more consistent than many other systems. How does one improve on it?

Best - shaltradeR

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Quoting ghous

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there has to be some problem with the way you're using the CF this system deserves to give you better than that..for how long have you been using it shaltrade?

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Quoting Clansman

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I currently use FX Solutions. I switched to them after my previous broker started to miss my entries and stops with regularity. They do not use Metatrader, but since I prefer to trade manually, this is not an issue for me.

Good luck in your trading.

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Quoting shaltrade

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Hi Clansman - Who was your previous broker? I have been using IBFX - and they have 2 pips spreads on the EURUSD as opposed to FXS's 3 pips. Haven't had the problem you mentioned (yet!).

Best - shaltrade

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