Cornflower Hourly System

Fair call. I only put half my usual size on these 2. If it works out I'm hoping to build a position and add to it. Not overly optimistic, but worth the risk.

I pulled my stops up and got stopped out. Ive made up the loss scalping on the 5 minute chart. You win some , you loose some.

Way to end the week for me saw a great set up happening on EY and EU and I had to go to work unfortunately so I set up a modest stop and a trail on both worked out great. I had to grab these about 15 minutes before the close which I try not to do but I had no time. All my entries are in the pics as well as stops and TP's

Found another opportunity on the pound not agzactly what cornflower looks for. So we have a good sized wick on the hourly close where the red line is and we have a close right below the 24 these are the formations that I love. Got in and the price action never really showed much follow through, so after I saw it go 30 pips into profit it stopped and started bouncing between +20-+30 and I ended up getting out with 23 so good trade

Its been real choppy today but finally got something that looks promising all tp's and stops are in the pic not looking for much on this one but I figure 20 pips should come.

Nice job on the 20 pips, that was gutsy but well-timed. Always better to enter after a green candle.

Thanks there Lever but that was just where I was expecting it to go I ended seeing some hesitation at the 1.3000 point and snagged that for an exit. This system is great I appreciate you sharing it with all of us.

lever

I havent seen a chart from you in a while any reason for that? Im guessing but this is your style or maybe a take off of someone elses, but show us some of your magic!

I just don't have a lot of time these days to post. If I see something worth commenting on, though, I'll do it. But when I'm not enmeshed in my usual non-trading activities, I'm trying to focus on actual trading (which is going quite well, I'm happy to report).

Sometimes it's good to lay low...

Although I haven't posted here, I've been secretly trading cornflower for 7 months now. It took a while to get the discretionary part down but then it became a very consistent pip-earner and one of my more reliable tools. For the past 3 weeks, however, with all the endless "bailout" yak-yaking, I can't seem to be able to buy a pip and doubts are creeping in.

So, rather than look for "refinements" to an otherwise reliable system, I thought I'd post first and see if you guys are having same trouble or is cornflower still working for you and it's ME and my psychology that needs checking. Thanks.

Optik
There have been plenty of opportunity Ive been missing them been a little busy lately and looking at a couple of other strategies but here are a couple that I found just after reading

For people wanting to know if others are still going strong with cornflower.... I found this http://www.forexfactory.com/showthread.php?t=146461

They use other things as well but cornflower is one of the tools used.

Hi bob Thanks for mentioning my journal. Yea...something interesting is going on in there. A guy, Jwentro is his name is coming up with automation of cornflower trade, which according to my understanding of cornflower would be very complex to make. So, I am waiting with much interest on this one.

Now, for the last week, I was looking at GU which is where my trades are mostly done. Now on hindsight, I should have been looking at UJ too. I would say UJ gave the best cf trades last week but of course, I missed it all

I post two charts, i.e on GU and UJ , after all pics is worth a thousands words

<<<<very choopy movements
<<<< smooth movements

Happy Pipping to all

This has come up again here and in other places. Regarding a Cornflower EA, I devised Cornflower as a discretionary system, and I think it's best traded that way. No computer can replicate the judgment of an experienced, disciplined trader. There have been a number of attempts to automate Cornflower but no one has yet succeeded in devising an EA that is truly workable. The problem with Cornflower is that it's a trend-following system, and if every entry is taken there are going to be periods of drawdown in ranging markets. There is no way around it. Sure, we can write an EA with fixed profit targets of 20 or 50 pips, but the profits that result will mostly be eaten away by the inevitable losses in unfavorable market conditions. It's not the fault of the system. The market is unstructured and does not obey one set of rules at all times. As traders, we have to adapt to prevailing conditions, and adjust our decisions accordingly.

That said, I encourage further work for those up to the task. I think any EA that incorporates Cornflower would need to be adaptive to market conditions, taking into account short- to mid-term fluctuations in volatility, average daily range, and multi-currency correlations. We'd also need to take into account support and resistance on multiple time frames, which is difficult to code with reliability. Pivot points are often cited as a solution to this problem, but I have found their usefulness illusory.

I'm glad interest in the system is still strong after all this time. February was a frustrating month for those trading the USD pairs, but rewarding to those who traded long XXXJPY. The market will find its bearings before too long.

In all truth and reality has anyone found an ea that works consistently anyways. You always hear about the marketing make 20% every month Ive bought a total of two got my money back on one and trading another for 3 more weeks then I should get my money back on that one because it doesnt work. It takes a human mind to make consistent money.

hi all
i'm a new cornflower user
and i think it's the best system I've ever tried up until now
but there are a few questions about the system

if I have an OPEN POSITION with unrealized profit and there's a HIGH IMPACT news coming, what should I do??
should I close it?? or I keep it open??

there isn't a right answer. make your own mind up what you want to happen to your account.

GbpChf is a good candidate for a cf trade when market reopens next week. We have a strong move downwards and now price is retracing, and if I see a reversal candle off the 12 or 24 ema, most likely I will take a sell with the previous low as the initial target and a stoploss few pips above the reversal candle.



What ya guys say?

hi bro
sorry, i am a noob cornflower user
maybe the question is kinda silly
how do u know that the price will go downward after the reversal candle?? what if the price continue to move upward??

I dont know..... I am taking a calculated risk