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Cornflower Hourly System

  • #1,621
  • Oct 17, 2008 1:41pm Oct 17, 2008 1:41pm
Well another day another dollar or should I saw Euro? Hey Bob, great trade but I can't tell you what is going to happen since the euro has already fallen almost 3000 pips from 1.60.

This is a day where patience pays off and diligently sticking to the system.

Box #1 is a trade that techincally would have been profitable but I took a good entry on basically the same trade at Box #2. I got +25 and +0 because of the return back to the EMA's. Box #3 could have been another entry but that is where I took the breakeven trade. That would have been an obvious loser.

Box #4 was a perfect setup but I had no clue where to take the second profit so I took +25 and +25. Box #5 was another great short at 3442 almost exactly. I took +25 and +31 from the most recent low just a half hour before.

Box #6 was not a trade that I really wanted to take because of it being the 3rd retracement and wishing I had held on much longer with the previous two trades. Profit target was missed by only a few pips and ended -25 and -25.

Box #7 was the breakout/retracement of the longer term EMA that I have been speaking about. Very nice trade but I missed it and was regretting that one more than anything.

Box #8 was pretty crazy. I did not get stopped but came within about 3 pips I think. The market then rallied like crazy and I took +25 and then missed my next profit target at 3497 but .9 of a pip! So that one went breakeven.

Box #9 was the one I was hoping to rally to higher highs for the day but then I remembered it was friday with no serious econ news. I ended up taking -25 and -25 on the spike down before the little rally. Frustrating.

I ended the day at +51 pips. I am plenty happy with that but need to learn to stop sleeping so I can get more trades.
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Click to Enlarge Name: cornflower eurusd 5min 10-17-08.jpg Size: 126 KB
Chance favors the prepared mind.
  • #1,622
  • Edited 4:30am Oct 19, 2008 3:31am | Edited 4:30am
Hi ya Iceman777

Quoting iceman777
Aarangio,

It is funny that you mention the bagovino method. I was sort of mixing the two at one point as well! I loved it but I wanted to focus on one method and this turned out to be the one that I was most comfortable with.
I know what you mean about this and I am very happy with this as i have had a lot of excellent help from Strada on the Bagavino method and have had very good success with it and I'm now looking for ways to improve it and myself and I think it's good to have a look around at new ideas as long as it's focused..

If you are getting tossed around (meaning losing money) remember this: risk is the only thing that a trader can control. You know what you can lose if you set a stop. Keep trading until the probabilities of your edge take a hold.Thanks for great advice ..

Seems like some good movement earlier that was missed on the EUR. GBP has been very choppy yesterday and somewhat today. If both get back into a trend then we can expect things to be nice to us again. I don't know if that will happen though with how much correction we have had recently. Just my two cents. Yes, it's crazy out there with these wild moves, i'll be glad as well when it starts to settle..at the moment i'm happy this week to at least come out in a positive ..

God Bless you, friend.
Adrian
  • #1,623
  • Oct 19, 2008 3:42am Oct 19, 2008 3:42am
Hi Iceman777,

Could you please clarify some things for me?

Looking through your messages am I right in saying you use an automatic 25pip stop?

Do you actually trade with 2 lots?..take the first 25pips profit target and the 2nd?

You only trade Euro at the moment and sometimes £?

On post #1621 box #8 could you tell me exactly at what price you bought in at and was it a case of bouncing of the 43 or 24 MA?

Also do you use a special method of waiting for the bar to go above the bar before when going long and the opposite going short before buying in?

Sorry for all the questions Iceman777 ..

Many thanks,
Adrian
  • #1,624
  • Oct 19, 2008 11:48am Oct 19, 2008 11:48am
http://www.skype.com/go/joinpublicch...NWvQl5yHNEYCil


Cornflower Skype discussion room. Anyone who wants to join is welcome Already 8 members and growing.
  • #1,625
  • Oct 19, 2008 4:50pm Oct 19, 2008 4:50pm
i get this from indonesian forum
is it the same?

http://www.ziddu.com/download/244308...Tools.rar.html
  • #1,626
  • Oct 19, 2008 6:22pm Oct 19, 2008 6:22pm
Quoting aarangio
Hi Iceman777,

Could you please clarify some things for me?

Looking through your messages am I right in saying you use an automatic 25pip stop?

Do you actually trade with 2 lots?..take the first 25pips profit target and the 2nd?

You only trade Euro at the moment and sometimes £?

On post #1621 box #8 could you tell me exactly at what price you bought in at and was it a case of bouncing of the 43 or 24 MA?

Also do you use a special method of waiting for the bar to go above the bar before when going long and the opposite going short before buying in?

Sorry for all the questions Iceman777 ..

Many thanks,
Adrian
Aarangio,

No problem with the questions...the more we ask the better we all become!

Yes, I use a 25pip stop on all positions. It is what has worked for me on the 5min chart. Just enough room for volatility, tight enough to keep losses to a minimum, and easy to remember.

I do trade with 2 lots. I always take the initialy profit at +25 and then move my stop to break even for the other position. At that point I decide on recent S/R, pivots, and sometimes just an eye for the chart for my exit. The big negative with 2 lots is the double loss when you do take a loss. So you need to be adjusting your money management for a 50 pip loss and not 25.

I cut my trade equity in half so that I was trading the same amount but in a dual entry format. I have been contemplating going back to a single position for some time but I have too much regret when I see a nice move for 50 or more pips after my entry. Personal preference is very important and the ability to self-analyze so that you can reach a positive conclusion is what each individual trader needs to do.

I only trade the EUR but I do trade the GBP on mondays because I recognized there seems to always be a nice trend on monday.

Box #8 I entered at 1.34381 and placed my stop at 1.34131. The low was 1.34154. I took initial profit at 1.34631 and my second take profit was at 1.34970. That missed by .9 of a pip. I cannot remember exactly why I chose 1.34970 but there must have been some justification!

I enter at the 24EMA at all times EXCEPT when the GBP hasn't retraced at all yet. Then I sometimes will wait for the EUR to go to the 43 and that is usually when the GBP is reaching the 43. Vice versa - Sometimes the GBP is already at the 43 so I know the enter immediately at the 24. That is not set in stone because both operate fairly independently.

The only time I would trade with a confirmation style is if there is a strong trend and I want to find a way to enter. I will wait for a retrace to the 16. Place a stop entry on the opposite side of the candle that touched and see if I get filled. For a short I would place a sell stop below the low of the candle that touched the 16. I dont really do that anymore becaues there are enough retraces for good trades at the 24 and 43.

I hope this answers all of your questions!

God Bless.
Chance favors the prepared mind.
  • #1,627
  • Oct 20, 2008 1:20am Oct 20, 2008 1:20am
Well said Mr Ice!
Got stopped at B/E on my EUR trade from friday
  • #1,628
  • Oct 20, 2008 5:38am Oct 20, 2008 5:38am
Hi ya Iceman777,

Thanx muchly for all the answers and help on this you've been a great help..

Just wondering on the 5min you found that the 43 was a better signal than the 50 on the 5min TF?

Sorry, also just wondering if you use Pin bars as I see that they give very potent moves on the CF system?

thanx muchly,
Adrian
  • #1,629
  • Oct 20, 2008 12:02pm Oct 20, 2008 12:02pm
Quoting aarangio
Hi ya Iceman777,

Thanx muchly for all the answers and help on this you've been a great help..

Just wondering on the 5min you found that the 43 was a better signal than the 50 on the 5min TF?

Sorry, also just wondering if you use Pin bars as I see that they give very potent moves on the CF system?

thanx muchly,
Adrian
Aarangio,

The 43 seemed to hold price better than the 50. I was fooling around with different # EMA's to see which looked the best. 43, 24, and 16 looked the most legit on the 5min TF.

I am not sure what a Pin Bar is...could you clarify for me?

Thanks.
Chance favors the prepared mind.
  • #1,630
  • Oct 21, 2008 12:43am Oct 21, 2008 12:43am
Hey everyone sorry Ive been a bit misguided over the past few nights I can post what I missed and took on demo because it left me wondering too much about things, and I made my weekly target in one trade on it. I think we should form an IM group as well as the skype. Skype eats my internet up and kills my broker and charts. If anyone is interested post on the forum or pm me and I will create a list of people. Unfortunatley Bob, and Iceman are the only ones posting results lately Ive missed on over 300 pips this week and we are in tuesday night my time I think with a few minds together we can make 500-600 a week that is major profit no matter what leverage you use. I have been choking simply because of my daily life at the moment. Bob, Iceman, and aber excuse me I do not remember your name at the moment. Lets run with this system it works even in ranging markets as we have experienced over this week and some of last. The trade I want to bring in to mention is the highlighted one in both charts. I sat on this with at least one clear mind I think I would have taken this trade. Trading is about psychology we wouldnt have all this volitlity if people were not scared they say trade when people are scared and be greedy when people are scared.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: demo ey 4hr taken on daily time listed.JPG Size: 124 KB
Click to Enlarge Name: demo ey dailyt taken on daily time listed same as 4hr.JPG Size: 115 KB
  • #1,631
  • Oct 21, 2008 4:47am Oct 21, 2008 4:47am
kodflakes,

I missed an EUR entry last night because i went to bed early... would be up over 200 pips as i speak, I love that old saying "I would rather be out of a good trade wishing I was in, than in a bad trade wishing i was out"
  • #1,632
  • Oct 21, 2008 5:32am Oct 21, 2008 5:32am
Hi all,

I just wanna share my indicators that i have.. it's base on Cornflower system but i modified a little bit. I'm using EMA 4,8,16,24,72,120,360 & 480. The indicator need BB_MULTI_EMA for calculating the trend on each EMA... Use KG Weekly StdDev Channel to help find where is the pullback will starting...

Enjoy..

KG
Attached File(s)
File Type: ex4 Cornflower System Mod.ex4   128 KB | 1,220 downloads
File Type: mq4 BB_MULTI_MA.mq4   3 KB | 874 downloads
File Type: ex4 KG Weekly StdDev Regression Channel.ex4   9 KB | 735 downloads
  • #1,633
  • Oct 21, 2008 8:46am Oct 21, 2008 8:46am
It was a great day yesterday, don't you agree? Cornflower gave us some great presents. Look forward for such days in the future as well
  • #1,634
  • Oct 21, 2008 2:09pm Oct 21, 2008 2:09pm
Quoting iceman777
Aarangio,

The 43 seemed to hold price better than the 50. I was fooling around with different # EMA's to see which looked the best. 43, 24, and 16 looked the most legit on the 5min TF.

I am not sure what a Pin Bar is...could you clarify for me?

Thanks.
Hi ya Iceman777,

Here's a couple of articles about pin bars courtesy of the James16 thread...they have a lot of great information in there about Pin bars and Inside bars.... along with the Dib's thread they are both excellent threads worth reading information on trading..

Also i've attached another document about 7 habits of a trader for any newbies out there..i think they should all read this document maybe even print it out and read it often....why not ..I am!! .. as I feel these are all essential elements to becoming a professional trader..

Enjoy, I hope this is of use to some one..
Adrian
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   175 KB | 712 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 641 downloads
File Type: pdf 7HabitsTrader.pdf   61 KB | 688 downloads
  • #1,635
  • Oct 21, 2008 5:37pm Oct 21, 2008 5:37pm
I had followed CF for 4H since 1 month with great success with help of 15 min chart.
I found the best solution to follow the market with this method is to look to charts for 6 currency at each 4 hours periodically and when u will found one chart with good CF setup u have to put your email alarm on this chart and u can get this alarm at your mobile if u are not fulltime trader.
This sample of my trade at 16-Oct- when the candle 12 GMT reach 12 EMA area.
Attached Image(s) (click to enlarge)
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  • #1,636
  • Oct 21, 2008 10:21pm Oct 21, 2008 10:21pm
I've been following your system and quite like it. I've been a dyed in the wool 1-2-3 man (when price breaks point 2, I enter). I've been demo-ing on E/U and it seems to work well. I like E/Y and have been testing entering on a pull back to the 12 ema on the 5 minute chart. It seems to be ok. I dropped down to the 1 minute chart but have mixed feelings on that timeframe. I've been testing entering on a 1-2-3 break on the 1 min, in line with the 5 min as the master timeframe and all seems good.Just fine tuning at the moment.I'm still staying with the 1-2-3 for live trades, but yesterday I had a few loses in the Asian session which I made up for in London, BUT, if I'd have been scalping with a pullback method I wouldn't have had those loses. Keeps the examples coming, Cheers, Bogus
FF journal: Peaks and Troffs
  • #1,637
  • Oct 23, 2008 10:50pm Oct 23, 2008 10:50pm
This thread needs to be back up top because this is one of the most powerful threads in all of Forex Factory. Felicia is a brilliant woman with powerful insights into the market. This system is still pure gold, as laid out in post number one. The method is as powerful as it gets.

My advice to you is POSITION SIZE!!!! This is what works for me... 100 pip loss=2% of your capital. For a $5000 dollar account you trade 1 mini-lot. DO NOT VIOLATE THIS RULE.

Also, what I use for a stop is a visual one. I do not use a pre-set stop-loss (aka 'target for your broker to take out'). My stop-loss is: if there is a 1HR bar close past the 72EMA against my position, it is a loss. You will notice in Cornflower that after a big move, the first return to the 72EMA is a very strong support. The 72 is the line in the sand. If it closes past it, you lost this trade, look for your quickest exit. LET THE BAR CLOSE and then make a decision. It is an emotionless process.

For PROFIT, I look for recent lows/highs and I also use Bollinger Bands for reasonable exits. DO NOT BE GREEDY!!! Leave the top and bottom 15% for the risk-takers. We don't need that, just take the meat off the bone and go home.

Another huge thing is this... jump up to the 4HR chart and use the same EMA's as the 1HR and determine the 4HR trend. Your 1 HR Cornflower entries must match the 4HR trend! NO EXCEPTIONS!! If the 1HR says go long, but the 4HR is short, you have NO TRADE.

I will be lurking around for awhile, so if there are any Cornflower specific questions you have, I would be glad to help anyone attempting to learn the finer points of what has been presented so far.
  • #1,638
  • Oct 24, 2008 9:48am Oct 24, 2008 9:48am
Quoting Kang_Gun
Hi all,

I just wanna share my indicators that i have.. it's base on Cornflower system but i modified a little bit. I'm using EMA 4,8,16,24,72,120,360 & 480. The indicator need BB_MULTI_EMA for calculating the trend on each EMA... Use KG Weekly StdDev Channel to help find where is the pullback will starting...

Enjoy..

KG
Hello Kang, nice to see you in this thread and thanks for sharing all the cool indicators. Here is my EU chart employing the indicators that you posted. Great chart!!

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 28 KB
  • #1,639
  • Oct 24, 2008 3:43pm Oct 24, 2008 3:43pm
Quoting Repipula
This thread needs to be back up top because this is one of the most powerful threads in all of Forex Factory. Felicia is a brilliant woman with powerful insights into the market. This system is still pure gold, as laid out in post number one. The method is as powerful as it gets.

My advice to you is POSITION SIZE!!!! This is what works for me... 100 pip loss=2% of your capital. For a $5000 dollar account you trade 1 mini-lot. DO NOT VIOLATE THIS RULE.

Also, what I use for a stop is a visual one. I do not use a pre-set stop-loss (aka 'target for your broker to take out'). My stop-loss is: if there is a 1HR bar close past the 72EMA against my position, it is a loss. You will notice in Cornflower that after a big move, the first return to the 72EMA is a very strong support. The 72 is the line in the sand. If it closes past it, you lost this trade, look for your quickest exit. LET THE BAR CLOSE and then make a decision. It is an emotionless process.

For PROFIT, I look for recent lows/highs and I also use Bollinger Bands for reasonable exits. DO NOT BE GREEDY!!! Leave the top and bottom 15% for the risk-takers. We don't need that, just take the meat off the bone and go home.

Another huge thing is this... jump up to the 4HR chart and use the same EMA's as the 1HR and determine the 4HR trend. Your 1 HR Cornflower entries must match the 4HR trend! NO EXCEPTIONS!! If the 1HR says go long, but the 4HR is short, you have NO TRADE.

I will be lurking around for awhile, so if there are any Cornflower specific questions you have, I would be glad to help anyone attempting to learn the finer points of what has been presented so far.
i am trading CF 4H only when the price reach 12EMA zone i will wait for pullback signal by follow-up Felicia 15 Min Chart " the setup with BB" I will wait until cross EMA 5/10 and then they aligned on the same direction on 4H chart. i have followed up this way since around 1 month with success.
the one disadvantage is the signal can come any time while i am at work or while i am sleeping . so i have followed the next scenario
1-each 4 hour i am looking to 8 currency chart and select the one which is good setup for CF.i just adjust my indicator for those are good setup
2-when indicator indicate the price reach 12 EMA zone on 4hour chat it will send sms to my mobile.
3-manually i confirm the signal and put other indicator online for 15 minute chart
4- when the 15 min chart indicator found a chance it will also send sms
then manually enter trade.
i am looking to other CF team member to join my work and divide the manual work to be 24 hours. if any interested please email me
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdusd-cf15.gif Size: 18 KB
  • #1,640
  • Oct 24, 2008 7:04pm Oct 24, 2008 7:04pm
Hello!

Have not been able to trade much this week but glad people are having fun with cornflower... this was one 4 hour set up late this week on the EUR but at the same time some good setups went down on the AUD, GBP, JPY and EUR/JPY (and maybe others i don't know about)

Where is Ice?
Attached Image (click to enlarge)
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