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Cornflower Hourly System

  • #1,661
  • Oct 31, 2008 11:35pm Oct 31, 2008 11:35pm
hitman,

I have put some blue circles around some pullbacks on this chart, Its up to you how neat you want the the bounce off the EMA to be... in trading you need to be flexible.

If you or anyone is new to trading babypips.com runs a free school to help people understand terms and the basics of trading

Hope this helps


Bob
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  • #1,662
  • Nov 1, 2008 6:38pm Nov 1, 2008 6:38pm
Quoting bob_inabottle
hitman,

I have put some blue circles around some pullbacks on this chart, Its up to you how neat you want the the bounce off the EMA to be... in trading you need to be flexible.

If you or anyone is new to trading babypips.com runs a free school to help people understand terms and the basics of trading

Hope this helps


Bob

Thanks Bob, appreciate your help.
Looking at the graph, it looks like there are so many pullbacks. Which one should we choose? So far, in my demo account, I go with the pullback which occurs when all EMAs (or more importantly the 24) cross the 72, indicating a very strong trend. However, such trends are few and infrequent. So, to make decent profits, you need position sizing. Is this what most people using this system do? Or am I missing something here.
  • #1,663
  • Nov 2, 2008 4:36am Nov 2, 2008 4:36am
Hitman,

If you read post one in this thread you will see that we need all the EMA's staked in the right order for us to trade cornflower, yes this can mean lots time sitting on the sidelines waiting for a trend.... but thats what this system is about.

then we take pullbacks after this....

hope this helps


Bob
  • #1,664
  • Nov 3, 2008 4:51pm Nov 3, 2008 4:51pm
Here's 2 trades I took recently using Icemans entries. The 2 red lines are the entry and stop(which wasn't hit) for the 2nd trade. I thought the 2nd one was going to get stopped but it worked out.
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FF journal: Peaks and Troffs
  • #1,665
  • Edited Nov 4, 2008 4:27pm Nov 3, 2008 9:20pm | Edited Nov 4, 2008 4:27pm
Look guys I use TL I use fibs when they look good. My strategy is never the same in the next. But this is an everchanging market. But when things that have worked for other people line up it is time to enter. This is the Euro/USD 4hr chart. I have a candle that bounces off my TL one that has been broken but bulls couldnt hold their territory. So once it goes back below I know that they couldnt pull hard enough to hold thier ground. So I took a short after I see that the bulls could not break the TL again. I caught my entry at the close of the previous candle of the close thinking that it would not make it back to the TL. At 2860, the high on the arrowed candle was 2881. Not much to risk but if you wait for the right close than you do not have to risk much. I waited till my charts showed my exit becasue I do not trade with my with my charts. I use separate companies, remember that if you are not an experienced trader.
  • #1,666
  • Edited 9:39pm Nov 3, 2008 9:22pm | Edited 9:39pm
h
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  • #1,667
  • Nov 3, 2008 10:55pm Nov 3, 2008 10:55pm
I agree with you and would also appreciate knowing how some real trades are working out, but I think trading still comes down to each individual. Even a husband and wife can disagree on a trade.
Here is an example. The EURJPY is already in a setup ( I missed it) but what is the next step? Do you wait for the pullback? Use Fibs? or wait for a reversal? There are already 250+pips since the setup.
Are you trading with 1 lot ? , multiple lots? ... what % of your capital

What I can recommend, is to have a plan that if the trade doesnt work out, you can still trade another day... I have been down the road of margin calls...
Is it better to say "I missed the 2000 pip run in the GBPJPY , or for the last 3 months I have made 30 pips a day and still have an account" ?
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  • #1,668
  • Nov 4, 2008 9:42pm Nov 4, 2008 9:42pm
Quoting ahmedradwan
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...
hey ahmedradwan,

Care to explain how you send yourself an sms? what software do you use? is it provided by your broker? if so, who's your broker?

i'm at work 9-5 and i'm not able to cash-in on the activity. a system that sends alerts/messages would definately help.
  • #1,669
  • Nov 5, 2008 11:22am Nov 5, 2008 11:22am
Iam a regular follower of this forum and i must say i use cornflower to the last detail. As regards sending sms, iwld really love to know how u do that.
the ROC is in d building
  • #1,670
  • Nov 6, 2008 3:20am Nov 6, 2008 3:20am
Quoting hitman047
hey ahmedradwan,

Care to explain how you send yourself an sms? what software do you use? is it provided by your broker? if so, who's your broker?

i'm at work 9-5 and i'm not able to cash-in on the activity. a system that sends alerts/messages would definately help.

It’s very simple from your indicator u can send email and from email to sms setup. You can do this by checking your mobile provider he should provide this service from email to sms or there are a lot of companies doing the same task around worldwide. If u want names send to me.
.
  • #1,671
  • Nov 6, 2008 9:21pm Nov 6, 2008 9:21pm
Caught this one here on EY 1hr sotchs were oversold in a downward trend and we have a bounce off of the 12. PSAR didnt hold but I am zeroed out on it right now so looking for it to make it to the TL for my exit.
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  • #1,672
  • Nov 9, 2008 12:38am Nov 9, 2008 12:38am
Hey flower power people!

The last few weeks have been a bit dead for me on the 4 hour charts ... but thats one thing about this system I have gotten a handle on over time, you wont trade everyday and thats fine because when you do trade you want to make it count! keep up the good work guys and girls.

Bob
  • #1,673
  • Nov 11, 2008 2:49am Nov 11, 2008 2:49am
Hello

Took a trade on the pound about an hour ago, the trend is not that fast at this stage and it might not work out but it has hit my free trade target so even if I get stopped now who cares .... I will take trades like that all day
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  • #1,674
  • Nov 11, 2008 6:26am Nov 11, 2008 6:26am
Hello everybody,

I just want to say thank you to felicia for this great system. I found this thread a few weeks ago and just finished reading every post in this thread. I am new to forex trading and I want to use this system for a start, for me its easy and simple to follow except for the M30.

Could anybody in this thread explain to me with a few sample charts how to use the initial (M30) TF?
  • #1,675
  • Nov 11, 2008 6:51am Nov 11, 2008 6:51am
Hi its me again,

I just wondering if anybody out there can setup cornflower setting in H1 TF and at the same time setup the M5 setting on the same chart in MT4? Its really tedious and messy to open several charts on the same currency in a single platform. Its really helpful and save a lot of time not just for me but for everybody in this thread.

Mind my english. thank you
  • #1,676
  • Nov 11, 2008 11:58am Nov 11, 2008 11:58am
Bob
if your stop held looks like another clean one for ya good job!
  • #1,677
  • Nov 11, 2008 12:05pm Nov 11, 2008 12:05pm
Thanks kod,

up 215 pips at the mo
  • #1,678
  • Nov 12, 2008 12:05pm Nov 12, 2008 12:05pm
That 4 hour trade from Tuesday worked out ok, hit profit while i was sleeping of 400 pips, also were a few good setups on the GBP 1 hour if anyone was lucky enough to grab them
  • #1,679
  • Nov 13, 2008 12:19am Nov 13, 2008 12:19am
R!n,

I really don't know about the the initial entry... it would seem not to be as popular as the pull back.

The way I find easy for the 1 hour and 5 min is to find a set up on the 1 hour, then forget about that chart and bring up the 5 min to time the entry, really as trading go's thats not a lot of work.

Hope this helps


Bob
  • #1,680
  • Nov 13, 2008 4:46am Nov 13, 2008 4:46am
Quoting bob_inabottle
R!n,

I really don't know about the the initial entry... it would seem not to be as popular as the pull back.

The way I find easy for the 1 hour and 5 min is to find a set up on the 1 hour, then forget about that chart and bring up the 5 min to time the entry, really as trading go's thats not a lot of work.

Hope this helps


Bob


Thanks bob for the ideas. I assume that there is no simple way to setup two different
cornflower settings in H1 and M5 in the same currency chart.
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