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Attachments: Cornflower Hourly System
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Cornflower Hourly System

  • #1,701
  • Dec 10, 2008 11:28pm Dec 10, 2008 11:28pm
Simple...... Hope others got some pips too!
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  • #1,702
  • Dec 11, 2008 8:03pm Dec 11, 2008 8:03pm
Quoting hitman047
So, if I'm using the 30-min timeframe, my values will be 16, 24, 48, 144 .. correct?

Also, what would be the advantage of moving to a smaller timeframe, because now you've adjusted your EMAs accordingly? The relative increase in volatility by moving to a smaller timeframe is counter balanced by your adjusted values.
I didn't say anything about adjusting the EMAs for the 30-min. I only said I'm no longer using the aggressive entry as defined in the first post. That said, if you want to experiment, by all means. But I've never tried doubling the EMAs on the 30-min myself.

EURUSD is going to but up against the weekly trendline around 1.3450. Careful.
  • #1,703
  • Dec 14, 2008 8:07pm Dec 14, 2008 8:07pm
Hi Felicia,

I've been studying this system for quite some time now and i've been having good results. But, one thing that always crosses my mind is, aren't we missing the big swings? We only trade the "pullbacks", so we essentially watch the swings go by and as they pullback, we enter .. hoping for a bounce off.

What if we simply trade off the 12/24 EMAs instead of the price? it'll require you to hold onto trades for days, but the pip run will be HUGE. The 12 EMA follows the price very closely, within a max. 100 pip range. Exits and entry will be based on EMA crossing. Your thoughts?
  • #1,704
  • Dec 14, 2008 8:54pm Dec 14, 2008 8:54pm
Quoting hitman047
Hi Felicia,

I've been studying this system for quite some time now and i've been having good results. But, one thing that always crosses my mind is, aren't we missing the big swings? We only trade the "pullbacks", so we essentially watch the swings go by and as they pullback, we enter .. hoping for a bounce off.

What if we simply trade off the 12/24 EMAs instead of the price? it'll require you to hold onto trades for days, but the pip run will be HUGE. The 12 EMA follows the price very closely, within a max. 100 pip range. Exits and...
Here is why:

http://img526.imageshack.us/img526/5571/whipgw9.gif

I'll leave the exposition to you.
  • #1,705
  • Dec 15, 2008 8:56am Dec 15, 2008 8:56am
Quoting lever70
Here is why:

http://img526.imageshack.us/img526/5571/whipgw9.gif

I'll leave the exposition to you.
Yes, I realize that the drawdown in this case will be around 150 pips. You can use good money management to minimize its effect. Also, when you see the price to be deviating too much, you can downsize your positionor exit position to be completely safe. In general, the price WILL return to the 12/24 EMA, will it not? My only concern is, how badly do the indicators lag.
  • #1,706
  • Dec 15, 2008 10:01pm Dec 15, 2008 10:01pm
Lever
You talked about other short term strategies can you share some of these?
  • #1,707
  • Dec 22, 2008 12:24am Dec 22, 2008 12:24am
Quoting hitman047
Yes, I realize that the drawdown in this case will be around 150 pips. You can use good money management to minimize its effect. Also, when you see the price to be deviating too much, you can downsize your positionor exit position to be completely safe. In general, the price WILL return to the 12/24 EMA, will it not? My only concern is, how badly do the indicators lag.
I understand the points you raise in this and the other post you made. The thing is, adjusting Cornflower to be more responsive to quickly changing market conditions would result in a different system altogether. I would prefer to simply leave this one as it is, with its close to two years of history. Corrnflower is a pure retracement system, and yes, you ARE going to miss the beginnings of some moves. However, Cornflower will catch every major move in the market. If you wish you trade on momentum, you should find another system more suitable to your trading style, perhaps combining it with Cornflower. I do this myself, and my 1-minute modified guppy and 5 minute "5/10" are both suitable for this purpose. Both are detailed early on in the thread prior to post 100. (Kodflakes, this should answer your question.)

So, did anyone use Cornflower to catch some of the 1700 pip up move on EURUSD?
  • #1,708
  • Edited 10:02pm Dec 22, 2008 9:35pm | Edited 10:02pm
Wow, interest in this system really seems to have waned. I suppose I am partly to blame, being away from the forums for so long. But I would really like to hear how people are doing, even if you are no longer trading Cornflower. I am especially curious to hear from folks who may have altered the system in some way to their liking.

In the past I have discouraged the use of indicators because I wanted the emphasis to be on the Cornflower rules, and also because they are far too often used as crutches by newbies. However, in the right hands they might have some value. I realize that this system has always been discretionary in that exits (and to some extent, entries) are left up to the trader, so perhaps it is natural for people to seek something beyond the EMA entries. I personally use simple support and resistance as targets, but I'm curious to hear from others regarding what has and hasn't worked.
  • #1,709
  • Dec 23, 2008 1:56am Dec 23, 2008 1:56am
Hey Lever

I dont think it's a case of people not having interest in cornflower, a little while before your return I was posting my trades and a few others were doing the same, things seem to have been rolling along then. More a case of nothing changing ... I can post more of my trades but nothing new to see, thats the great part about cornflower (and other top systems) things don't get changed often because they work.... as anyone who really can trade knows its simple once you Know How.... getting the mindset to use the Know How is the hard part.

Also people think trading has to be a job (like 9-5) and if I am not trading then im not making money, with cornflower I have had weeks without a trade... then on the other hand I have had cornflower trades that last weeks.

Not to say others dont add things that may help (them) but I don't want people getting the idea that things need changing

Buy in the dips.... you know the rest


Hope this helps

Bob
  • #1,710
  • Dec 23, 2008 1:59am Dec 23, 2008 1:59am
thanks already download just now,
need to practice this conrflower system
  • #1,711
  • Dec 23, 2008 2:00am Dec 23, 2008 2:00am
Quoting lever70
So, did anyone use Cornflower to catch some of the 1700 pip up move on EURUSD?
Post 1701 just up on the page before this one.... not that I am one to brag
  • #1,712
  • Dec 23, 2008 2:05am Dec 23, 2008 2:05am
4hr Cable .... (need to be brave)
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  • #1,713
  • Dec 23, 2008 11:26am Dec 23, 2008 11:26am
I use the 1 hour Cornflower with support and resistance and a 200 ema. I start off on the monthly candle stick chart with nothing on it and work my way down, just putting major sup/res on and then switch to 1 hour CF and see if any of the ema's line up with sup/res, major fibs or pivots. I try to time my way in on a 1 or 5 minute chart.
Next year I want to trade less and just pick the A+++ trades and let them run. I want to work on exits. I've been testing using a 2 bar stop instead of picking a level to get out on.i.e. the E/$ trade last week, the 32 fib level as an exit would have left too much on the table.
Good to see you back Lever. I agree with Bobs post yesterday about the simplicity but getting our heads right.
Merry Christmas to all. See you next year.
Bogus
FF journal: Peaks and Troffs
  • #1,714
  • Dec 23, 2008 11:29am Dec 23, 2008 11:29am
Quoting lever70
I am especially curious to hear from folks who may have altered the system in some way to their liking.
.

Hello Lever, I've been lurking for the past several months and have been playing with my demo account using the basic 1hr CF method.

So far, I've been very sucessful WHEN I follow the CF rules. The only time I get into trouble is when I try to predict a CF set up and get in a bit too early.

One of the more challenging aspects is finding a good exit strategy. I think paying attention the the daily/weekly support and resistance levels, pivot points..etc.. is key, but being a FX newbie...I'm still trying to understand what they really mean...

I think what this CF system has really shown me is that along with understanding the technical aspects of FX trading...you need to work on your emotional side as well.

- don't get angry at the market
- don't see a good CF set-up - don't make a trade - walk away.
- patience will be rewarded
- indicators = noise

Finally, thank you Lever and the rest of the regular posters for sharing.

Happy Holidays
  • #1,715
  • Dec 23, 2008 12:28pm Dec 23, 2008 12:28pm
sme 1 please tell me how i paste a print screen picture showing a chart on the reply thread, what do i once i print screen because i cant paste it directly
  • #1,716
  • Dec 26, 2008 3:16am Dec 26, 2008 3:16am
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Break even now
  • #1,717
  • Edited 5:40am Dec 26, 2008 4:57am | Edited 5:40am
Quoting lever70
Wow, interest in this system really seems to have waned. I suppose I am partly to blame, being away from the forums for so long. But I would really like to hear how people are doing, even if you are no longer trading Cornflower. I am especially curious to hear from folks who may have altered the system in some way to their liking.

In the past I have discouraged the use of indicators because I wanted the emphasis to be on the Cornflower rules, and also because they are far too often used as crutches by newbies. However, in the right hands they...
I have been using the CF H1 MA settings on H1 and M30 TFs and the M5 MA settings on M5 only. I have added STARC bands and Fractals (for a bit of convinience) and ZigZag. I like mutlitimeframes gearing, since M5 to M30 is a 1 to 6 time ratio. I also use Cf as originally designed to H1 TF, and pay attention to the performance of the 72EMA. I trade only GBP/USD and it is possible to scalp both ways in relation to the direction of the EMA72 on H1, but going against it demands a tighter SL and taking smaller profits. Going in the direction of this 72EMA on H1 allows one to miss the smaller cycle/s and still come out with profits, as the trend on a larger TF is less likely to change.
Best wishes to all and many good trades,
2be
Make sure losses are small and profits are bigger!
  • #1,718
  • Jan 4, 2009 10:08am Jan 4, 2009 10:08am
Well Cornflower people Ive been seeing a lot of opportunity lately just been missing the entry so havent had a trade lately just wanted say hello
  • #1,719
  • Jan 4, 2009 9:22pm Jan 4, 2009 9:22pm
Kod,

Great to see your around, I know you said you have been missing entrys but what do you think about the question Lever posted on exits? any thoughts?

Bob
  • #1,720
  • Jan 9, 2009 10:05am Jan 9, 2009 10:05am
I have been trading for many years...stocks, commodities, options and now fx for 3 years. I want to stress that simplicity is the key to trading and cornflower is an excellent way to look at and trade the markets.

If one has patience and gets rid of the gunslinger attitude you will make great money with this simple approach. Watch the weekly/daily and use the 4 hr as your template and your life will become so much easier.

I feel with the correct money management rules...not over trading and let your winners run you will become a very successful investor.

Just my 2 cents.
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