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Cornflower Hourly System

  • #1,281
  • Apr 28, 2008 2:43pm Apr 28, 2008 2:43pm
Hi,

I am a fairly new Forex trader and this is my first reply to this topic. I have read all the pages related to this topic and have learned every single aspect to this system. To be quite honest, I have been very successfull trading with Lever's setup.

From what I have observed and experienced, this system became very popular and all of a sudden people began to walk away from it. I truly believe that the reason for this is that people are always in search for a Holy-Grail for whatever reasons or aspects of life there might be. There is a distorted notion that there's always a free ticket or an easy way out.

The truth is straight and simple: there's absolutely no free lunch!

Therefore, I must conclude that, from what I have experienced so far, this system works! You just have to be very patient and have the nerves to make it work! Not only this, but you will have to get your stuff together and do some studying behind it in order to combine this wonderful system with a couple of other useful data/information (deMarker - hint.) that will all work for you ultimately.

As for Lever, I truly don't know her. I might say that she is my greatest inspiration in Forex trading. Once I saw her system, and understood her approach to life (and trading itself), I understood that even in financial trading, we need some kind of muse or inspiration. Lever (or Felicia for all I know) became my first inspiration in Forex trading. I thank her very much for this... Although its been an absolutely unconscious move.

I believe she became a bit frustrated with people's lack of understanding of her system coupled with a misguided approach to trading. It can be quite exaustive trying to swim against a Tsunami... If you know what I mean...

Or maybe she fell in love with someone and married... Lets always hope for the good.

I also hope that she still keeps up with this thread.

If so, she would be very happy to know that some people did learn her system and took her approach to trading for granted!

Below, there are two good examples from a determined "student".

Best,

Jupiter.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad_1h_25_04_2008.gif Size: 22 KB
Click to Enlarge Name: usdjpy_1h_25_04_2008.gif Size: 22 KB
  • #1,282
  • Apr 28, 2008 4:10pm Apr 28, 2008 4:10pm
Jupiter,

Thank you very much for all your information and the charts were very nice as well, I hope to see many more people on this site, I think this could be a very good system to work and make some good pips.
Hlass
  • #1,283
  • Edited 5:00pm May 5, 2008 4:59pm | Edited 5:00pm
Quoting jupiter_peak
Hi,

I am a fairly new Forex trader and this is my first reply to this topic. I have read all the pages related to this topic and have learned every single aspect to this system. To be quite honest, I have been very successfull trading with Lever's setup.

From what I have observed and experienced, this system became very popular and all of a sudden people began to walk away from it. I truly believe that the reason for this is that people are always in search for a Holy-Grail for whatever reasons or aspects of life there might be. There is a distorted notion that there's always a free ticket or an easy way out.

The truth is straight and simple: there's absolutely no free lunch!

Therefore, I must conclude that, from what I have experienced so far, this system works! You just have to be very patient and have the nerves to make it work! Not only this, but you will have to get your stuff together and do some studying behind it in order to combine this wonderful system with a couple of other useful data/information (deMarker - hint.) that will all work for you ultimately.

As for Lever, I truly don't know her. I might say that she is my greatest inspiration in Forex trading. Once I saw her system, and understood her approach to life (and trading itself), I understood that even in financial trading, we need some kind of muse or inspiration. Lever (or Felicia for all I know) became my first inspiration in Forex trading. I thank her very much for this... Although its been an absolutely unconscious move.

I believe she became a bit frustrated with people's lack of understanding of her system coupled with a misguided approach to trading. It can be quite exaustive trying to swim against a Tsunami... If you know what I mean...

Or maybe she fell in love with someone and married... Lets always hope for the good.

I also hope that she still keeps up with this thread.

If so, she would be very happy to know that some people did learn her system and took her approach to trading for granted!

Below, there are two good examples from a determined "student".

Best,

Jupiter.

I have integrated Lever's system into my trading style. I use it mainly on the 4H time frame to confirm entries.

Since Lever is a college prof., I would suspect that the demands of the school schedule this time of year are taking precedence over the forum.

As for the slowdown of posts, speaking for myself, I only post when I have something to say.
  • #1,284
  • May 6, 2008 12:11pm May 6, 2008 12:11pm
I've started to follow the markets again after a long absence due to personal (and yes, academic) reasons. I'm ok, so no worries. And I'm glad to see this thread active.

More to follow.
  • #1,285
  • May 6, 2008 1:58pm May 6, 2008 1:58pm
Hi Lever,

Thanks for your feedback! I guess we are all glad that you are ok!!

Hope everything is fine and kicking! Welcome back and I would like to wish you the very best from beautiful Rio de Janeiro, Brazil!!!

Now, back to trading...

I know there's a lot of helpfull information about trading and so many different indicators, oscilators and systems. But from my short experience as an FX trader, I find that no other instrument is as helpfull as correctly drawing Support and Resistance lines.


"I have seen people draw trend-lines from about anywhere on a chart from different threads here @ FF.

So, allow me to put one strategy that might improve some of your drawings.

An uptrend is when demand exceed supply, and bearish visa versa.

So, how can we spot this events on our charts ?

A strong support (demand-line) is when you have 2 bars to the left (bear-bars) and 2 bars to the right (bull-bars) and resistance the other way around. Look for this to occur for the second time and apply a line between this 2 points you have. Candlestick pattern like hammer / invert hammer would help the creditability of your lines too.

Also correlate with different timeframes, don't get glued with only one timeframe !"

Drawing correct support/resistance lines, will you help you very much. This combined with the trend indicator (Cornflower is great for this), will expand your chances of trading the brake in a successful way. As the pull back "hits" one of the EMAs (considering the "maturity" of the trend) and it rebounds to resume the trend, once it breakes either the resistance or the support lines, go for the trade. It will resume strong and the break will provide for a good ammount of pips. Just be carefull when you leave the trade... Don't get over exciited because it will be tempting! The pressure is high once it goes your way.

Having said, I always look to place trades over the support/resistance lines that are in favor of the trend and specially after a pull-back. About an hour ago (13:00 EST) There was a strong pull back at CADJPY that came all the way from the 72 EMA! It was stong. I was a bit afraid of a turnaround, but once the pullback broke the resistance line... I knew I was in business. I went for 25 pips easily.

I find that Tom DeMark Trendline is a very helpfull tool. I also know that Lever mentioned this before... So I will attach an indicator that will suit all of you that wish to trade the break along with cornflower. Hope it helps.

Wish you all the Best.

Jupiter.
Attached File(s)
File Type: mq4 DeMark Trendline Trader.mq4   22 KB | 837 downloads
  • #1,286
  • May 6, 2008 9:02pm May 6, 2008 9:02pm
Hi Lever:
What a great surprise to have you back. I was just starting to learn your system when you stopped posting. I also am not a banker or any other kind of math wizard. Like you, just wanted to make money to do some good in the world. I'm excited and looking forward to hearing your insights into trading and life.

Jim
  • #1,287
  • May 7, 2008 6:30am May 7, 2008 6:30am
I have followed your system since nov 07 and I wanted to thank you for this great contribution.

You have been a great inspiration to me in Forex trading. I have had your system on my charts and love the 72ema-it has kept me out of bad moves and clued me into great moves in the market. Most people talk about the 50ema or 200 ema but in my exp the 72ema has been spot on at least 85% of the time-what more can one ask for!

Finally, I agree that small bites of the apple on a consistent basis will get the job done faster then always shooting for that homerun-thanks
  • #1,288
  • May 7, 2008 7:04am May 7, 2008 7:04am
Attached follows an example of trading the break accordingly...

By the way, there's a classic example of the Cornflower coming up on EURCHF.

It will pullback from th 72 EMA when it hits the H4 support line...

Let's see how it plays out.

Best,
Jupiter.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy_1h_05_05_2008.gif Size: 22 KB
  • #1,289
  • May 7, 2008 8:26pm May 7, 2008 8:26pm
Sorry mate, but I have to disagree. in your example price did not respect the 72 ema and bounce off it. It went way through it and closer to the 200 ema. I personally wouldn't have taken it as it was too random. I don't see how you can have your trendline there until after the fact as there are only 2 points, where a trend needs 3.I agree on support and resistance with cornflower laid over the top, with price action being the key.I'll post a couple of charts. Sorry if this sounds harsh. .
Quoting jupiter_peak
Attached follows an example of trading the break accordingly...

By the way, there's a classic example of the Cornflower coming up on EURCHF.

It will pullback from th 72 EMA when it hits the H4 support line...

Let's see how it plays out.

Best,
Jupiter.
Attached Image (click to enlarge)
Click to Enlarge Name: kkkkkkk.gif Size: 35 KB
FF journal: Peaks and Troffs
  • #1,290
  • May 7, 2008 8:32pm May 7, 2008 8:32pm
This is my version of an ideal setup i took recently. The ema's were stacked in order on the right side of the 200.Price had made a nice little bounce for the emas to condense together before fanning out beautifully.I wait for the good setups, there has to be confluence to take the trade, sup/res and higher timeframes, fibs. I wish trades like this came along more often.
Attached Image (click to enlarge)
Click to Enlarge Name: hhhhhh.gif Size: 32 KB
FF journal: Peaks and Troffs
  • #1,291
  • Edited 3:39am May 8, 2008 3:18am | Edited 3:39am
I did not take the other example. Especially with news coming. When I noticed the news, it never came... Otherwise, I truly believe it would of been a nice bounce...

It actually became a full reversal. It actually broke the 4H resistance line.
Jupiter.
  • #1,292
  • Edited 3:41am May 8, 2008 3:29am | Edited 3:41am
Quoting bogus
Sorry mate, but I have to disagree. in your example price did not respect the 72 ema and bounce off it. It went way through it and closer to the 200 ema. I personally wouldn't have taken it as it was too random. I don't see how you can have your trendline there until after the fact as there are only 2 points, where a trend needs 3.I agree on support and resistance with cornflower laid over the top, with price action being the key.I'll post a couple of charts. Sorry if this sounds harsh. .
I don't know if you read my post correctly... I only took the trade after the RESISTANCE break. The resistance that is showing up on this example, is not the original resistance. This is a new resistance after the originl break. The support line is fine. As you might observe, price hit SUPPORT and bounced back up. So this would explain your 200 ema... Not that it's magic or something like that.

Oh, and by the way, trendlines just need 2 points...

Jupiter.
  • #1,293
  • May 8, 2008 10:13am May 8, 2008 10:13am
Hi Everyone,

I just came across this thread and I see that there have been alot of postings and I was wondering if anyone could point me in the right direction as to where I should begin my reading of this thread. I know that over time rules change and things may be modified. I just dont want to start at the beginning only to find out midway through it has completly changed. I greatly appreciate any help you can give me. Thanks
Live today as if you will stand before God tomorrow.
  • #1,294
  • May 8, 2008 6:52pm May 8, 2008 6:52pm
Quoting Pippy Cent
Hi Everyone,

I just came across this thread and I see that there have been alot of postings and I was wondering if anyone could point me in the right direction as to where I should begin my reading of this thread. I know that over time rules change and things may be modified. I just dont want to start at the beginning only to find out midway through it has completly changed. I greatly appreciate any help you can give me. Thanks
Post #1 is still valid, though I'm no longer sure about the 30M rules. BStar's PDF document collects the most relevant posts. Here is the link: http://www.mediafire.com/?dojytmjnxn0

It's been quite a while since I've followed the markets. I need to spend time digesting what has happened before I post further. Stay tuned.
  • #1,295
  • May 9, 2008 3:29am May 9, 2008 3:29am
I don't see how your red trendline on the cad/yen example can be there as it is point 2 where it bounced, the bounce created point 2, then you could use the trendline in future, I don't see how you can say it bounced off it. Is it an automated trendline? With regard to "Cornflower", i don't see it bouncing off any of the emas.Price went straight through them.
Quoting jupiter_peak
I don't know if you read my post correctly... I only took the trade after the RESISTANCE break. The resistance that is showing up on this example, is not the original resistance. This is a new resistance after the originl break. The support line is fine. As you might observe, price hit SUPPORT and bounced back up. So this would explain your 200 ema... Not that it's magic or something like that.

Oh, and by the way, trendlines just need 2 points...

Jupiter.
FF journal: Peaks and Troffs
  • #1,296
  • May 9, 2008 3:09pm May 9, 2008 3:09pm
Quoting lever70
Post #1 is still valid, though I'm no longer sure about the 30M rules. BStar's PDF document collects the most relevant posts. Here is the link: http://www.mediafire.com/?dojytmjnxn0

It's been quite a while since I've followed the markets. I need to spend time digesting what has happened before I post further. Stay tuned.
Hi,
Thanks for the link. Hope you start posting soon to help the newbies confidence.
Alnames
  • #1,297
  • May 10, 2008 4:55pm May 10, 2008 4:55pm
Hello ladys and gents

First up i just want to let you all know how big of a fan i am of this system, so thankyou to lever for teaching us all, also thanks are needed to the other people that posted and have shown that we need not go around trying this indicator or maybe lets change that setting.... because it all works fine. Having read the whole thread and used the system with positive results its great to see new traders finding out about it, i love the fact if i ever need my head reset i just go to post one and almost all i need to know is there, by using the retracement plan on a 1 hour chart and then switching to Lever's 5min chart for entry i have all i need. When used with the right trading head space there is no holding back me. Thanks again Lever , i hope life treats you well because you and your thread have helped me more than i can say!
  • #1,298
  • May 10, 2008 5:12pm May 10, 2008 5:12pm
This system is profitable. It makes money slow, but it makes money
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,299
  • May 11, 2008 11:59pm May 11, 2008 11:59pm
one to watch for a short
Attached Image (click to enlarge)
Click to Enlarge Name: sssssssss.gif Size: 36 KB
FF journal: Peaks and Troffs
  • #1,300
  • May 14, 2008 1:30am May 14, 2008 1:30am
First of all, I'm only trading EURUSD at the moment. An excellent pair for noobs and non-noobs alike, with a small spread and relatively stable and predictable price action. I quite like it, being a former cable junkie. And it's really good for short-termers, too. Unfortunately, the cornflower chart for EURUSD is a mess right now. In times like these, the shorter-term strategies I outlined come in real handy, and I have made a lot of pips in the last two weeks using them. It's been nice rediscovering trading. Apparently, I still know a thing or two about it.

The intermediate trend is down on EURUSD, i.e., dollar-positive. As you know, I am not big on predictions. But I think this trend will continue, and then accelerate. I've been reading a lot of news and looking over long-term charts. My conclusion is that the end of dollar depreciation is near, if not already at hand. I will comment more on this soon. But the GBPUSD daily chart tells the story, soon to be replicated by EURUSD and then the other dollar currencies. (The parity party on USDCAD is done too.) There is a lot of chatter amongst government ministers in both the USA and EU, all of which amounts to a desire to see the dollar move higher.

Watch your dollar shorts closely; they are likely to be reaction moves. Of course, your charts should be the basis for taking trades. But I suspect our money this year will be made on dollar longs. Of course, to quote Jacko, "I could be wrong!"
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