Cornflower Hourly System

We had nice retracement , but once it broke the 23.6% retracement, signals were crossed and it would be hard to hold on to this trade unless you are willing to have your SL set at 72EMA or enter in at this point also. I like to trade 3 lots for this very reason. As it looks now, it is working out good.

I have not been around as much of late so have been looking at the 4hr charts and got in off a 24 bounce so im with you Brent

Rookie Q?s (of the subject,... Sorry!) I keep coming across Raging Market... Can some one pls explain what that means???? Thanks

Here's a daily chart with the CF ma's. The red ma is a 200ema. I use it for trend tracking. I hope it's helpful.

Jrex,

The short answer to you question is: The market only moves in 3 directions, up, down and sideways.

When the market is moving up or down thats a trend, cornflower is good at showing this because when the EMA's are lined up in the right order this shows a trend.

Sideways is when the market is range bound or not doing much trending.... in cornflowe thats when the EMA's are all bunched up and not showing a trend.


There is a lot more to this subject that you can (should) learn... a great place to start is babypips.com, they have a school system that shows all the basics of trading, a great place to fill in the blanks for people starting out.

Hope i have helped

Bob

4H GBP looking good at the mo

Thanks Bob.....

Hello!

Just a pic to show how my 4 hr cable trade is playing out, the red line is my s/l

The GBP trade i have been posting about is still going strong after a week and over 450 pips

I ve been reading about a bunch people trying to pick bottoms and this is one of those strat's that really help you from going against the trend I just wanted to compliment who ever came up with it.

Great job Bob:
Congratulations on your 450 pips, way to go. I was wondering if you are using 1 hr and 4 hr charts now or just one or the other. Keep up the good work, I'm starting on the 1 hr charts, but if you think 4 hr are worth the look, i'll start to follow them also.

Jim

Hey Jim,

I have been pretty busy with life of late, thats what got me looking at the 4hr charts, i do plan to go back to the 1hr when i can.

I really find it hard to to switch between timeframes, if i do switch from one timeframe to another often I tend to just be shopping for a trade .... what I should be doing is letting the trade come to me, thats why i think it helps just to stick with one plan... hope that makes sense

Bob

wondering if I am getting this right I took a short on the close of the boxed candle and closed it on the end of the next candle as I was just experimenting. Just wondering if I am following correctly.

I can't believe nobody has noticed this thread has reached the milestone of 100 pages!

Congratulations to the Cornflower System and the lady that brought it to us, Felicia. I know there are several other threads here in the "Trading Systems" section of FF with more pages, but 100 pages is still a nice milestone to reach. I've looked at other systems but the Cornflower continues to be my favorite.

I celebrated yesterday the 100 pages of this thread by netting +55 pips (+25 on eur/usd, and +30 on gbp/usd). I know it's not +450, such as Bob has scored (Bob, great job!), but I'll take +55 pips anyday!

I'm really glad to see this thread going strong again after hitting a dry spell recently. Here's to another 100 pages!!


Topgun

Congratulations for your great results Bob. I think,that Cornflower is the best system on the Forexfactory. The system just should not be used on timeframes lower than 1H. Cheers,

Thanks for your kind words, nice work Topgun and nice to see your still around lite. I hope people don't think I'm trying to brag but i think it is always good for people to post results, this can help out the people starting out and show it can be done!

The trade on the pound is up over 800 pips right now
I took trade on the AUD last night (will post a chart below) and its up over 200 pips now too, i really don't expect to be able to close these trades at the full profit level they reach, some rebound will need to happen for me to close them out.

Keep on Cornflowering people!

kodflakes,

Thats not really the way cornflower works, when we see the EMA's cross over and start to spread out (where you took your entry) that is when we start looking and watching for the market to retrace back to one of the EMA's, once this has taken place and the market has started moving back in the direction we want to trade.. we enter.

take a look at the chart of an AUD trade i took last night, notice the green tick is where the trend restarts and the red arrow is the candle that bounced almost on the 24 EMA, giving me my entry.

I think it's very good if people read post 1 again from time to time, i know i do and it keeps it all clear in my head, also the whole thread is a good read with lots of examples of how to trade cornflower.

kodflakes feel free to come back and ask any questions, a wise man once said to me "the only dumb question is the one you don't ask"

Hope this helps

Bob

Well said Bob. Great stuff on your latest trades.

OK I thought that was the conservative approach used on the hourly the chart I put up was 30m which I thought was more aggressive and went for the initial move. Now Ive used this a couple times over the past week, is the pull back that your looking for for markets that aren't trending or just a safer approach. But great system and I havent had a chance to read all these pages yet.

Kodflakes, I use the Cornflower on 1 hour as my main trend. Like Bob says, wait for a pullback into the trend. If you have to look to hard for a trend...it's not there. I trade off the 15 minute charts. I use a 12 and 48 ema as my trend direction and don't trade against it. I mainly trade E/J. Check out E/J and G/$ lately, strong trends. I wait for a pullback into the 1 hr CF trend and wait for the 15 min 12/48 cross to line up in the same direction. Ideally I wait for a small pullback to be safe and wait for the break of support or resistance. The reason I chose to wait for a cross on 15 min was because I was getting burnt placing an order at the 24 hourly. I asked myself why do some stop there and others don't. Answer: I don't know. So I came up with the 12/48 and it seems to work for me.
Hope this helps.