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Cornflower Hourly System

  • #1,761
  • Mar 7, 2009 5:17pm Mar 7, 2009 5:17pm
Quoting hartnet
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.

Attachment

What ya guys say?
Looks the goods to me , I like to get my trades to b/e ASAP but your plan sounds fine, maybe you can post a chart on monday or tuesday and let us know how the trade works out
  • #1,762
  • Mar 7, 2009 5:21pm Mar 7, 2009 5:21pm
Quoting esnanas
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??
keep it open! Let's see what happens.
Let us know.
  • #1,763
  • Mar 8, 2009 4:07am Mar 8, 2009 4:07am
Quoting esnanas
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??
I dont want to be a trade during big fundys, at the very least keep stops tight, some brokers wont always pay your limits and stops in times like that, if unsure stay out!
  • #1,764
  • Mar 9, 2009 9:48pm Mar 9, 2009 9:48pm
So how are all the flower people found this one on the CAD. Have been looking for a breakdown the past couple of days but the market had other thoughts. So we will see how this turns out hope all are doing well out there.
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  • #1,765
  • Mar 12, 2009 1:10pm Mar 12, 2009 1:10pm
Hello all, I was posting a lost of charts from live trades back in october but had a lot happen in life since then. I really don't have the time to be posting like I was then but I wanted to drop by.

I see things are still going well for many and they are for me still to this day. Bobinabottle, I do remember you. Some new faces, eh?

Just for those that don't know/remember me... I have been trading this system live since early october I believe. I have changed just the periods of the ema's and use pivots/ support and resistance for exit points. The entry is the classic pullback entry and I trade on the 5min time frame.

I have been averaging 100-200 pips per week on good conservative setups. Probably closer to 100 per week than 200. I got for 15-30pips per trade and usually match it with the same to a little bit less on the stop.

I am mainly opening up dialogue for anyone with questions and just a good place to talk trading!

God Bless.
Chance favors the prepared mind.
  • #1,766
  • Mar 12, 2009 1:50pm Mar 12, 2009 1:50pm
Welcome back, look forward to seeing some of your charts with a brief explanation. I look at the Cornflower and the Guppy setups every day, as taught to me by Lever 70.

regards all
  • #1,767
  • Mar 14, 2009 3:37am Mar 14, 2009 3:37am
Quoting iceman777
.................................

Just for those that don't know/remember me... I have been trading this system live since early october I believe. I have changed just the periods of the ema's and use pivots/ support and resistance for exit points. The entry is the classic pullback entry and I trade on the 5min time frame.

...................................
Hi iceman777,

Do you mind to share your system? Maybe with a chart or two?
  • #1,768
  • Mar 14, 2009 4:01am Mar 14, 2009 4:01am
Attached Image (click to enlarge)
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Price has pulled back to the 12/24 area. I am thinking of a buy sometime in the Asia session next week with stoploss and take profit as marked in blue.

Any comments,,,cf traders??
  • #1,769
  • Mar 16, 2009 1:49pm Mar 16, 2009 1:49pm
Hartnet,

I am trading the 5min charts on the EUR/USD mainly but also taking some GBPUSD trades. I have noticed that the EURUSD is the best moving currency for this type of trading. I use a 16, 24, and 43 EMA setup for my entries.

Those seem to be the best that have worked for me after much backtesting and now live trading since september 2008.

Below is a chart with my trades since last night. Some of those I took and some I wasn't awake for but it gives you a good example of what I look for. Oh, and I also include the pivot points for exit points sometimes. More often than not I take 25pips profit though for simplicity sake.

The first two boxes I did not take those trades. The 3rd box and forward I did take and they went as follows - 3rd-+25, 4th-+25, 5th--20, 6th-+25, 7th-+25 (missed stop of 25 by 1 pip and then went down)

Hope this helps.

God Bless.
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower eurusd 5min 3-16-09.jpg Size: 115 KB
Chance favors the prepared mind.
  • #1,770
  • Mar 18, 2009 4:46am Mar 18, 2009 4:46am
Hello!

Great to see you round Ice, you guys and girls that trade low timeframes really get my respect . Ice I have posted a Eur 5 min chart with what I see as set ups over the early eur/ldn session today. Circles 1,2 and 4 are nice setups that would bring in 20 pips with a 10 pip stop (nice work if you can get it) circle 3 is where the ma's are crossing the 72.... I don't take trades like that but what do you think?

I am still a large timeframe cornflower user... but i have a few "spare" hours each night, so if the setups are there I might play around (will post charts if i do)

Bob
Attached Image (click to enlarge)
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  • #1,771
  • Mar 18, 2009 8:43am Mar 18, 2009 8:43am
Hey Bob!

Good eye for the charts. You might just be converted someday to the lower times frames. My setups are a little bit different because of the different time period ema's but all in all it is very close.

I wanted to comment on the comment that you made concerning the crossing of the 72 or in my case the 43ema...

I have personally found that there is a losing trade that preceeds this happening (obviously because price broke down and did not continue on the trend). When price breaks through the 43ema, the shorter ema's are typically stacked correctly on the downside (in this case) and then what I have found is a high probability trade when price FIRST retraces to the 43ema.

Typically the shorter term ema's are close to the longer term ema when this happens so you have a ton of resistance from 3 ema's all at once.

This chart I posted gives 2 examples:
Box #1 is a failure and a losing trade. But Box #2 is a retrace afterward that does end in a profitable trade atleast for me. Notice the ema's are all at one place. Not real text book because of all that volatility but it got the job done.

Box #3 is a losing trade that was quite the nice setup. Box #4 is a trade that I took on the short side and gave plenty of pips. This example is more textbook because I don't like too many bars to print before this retracement happens or I feel like it is more like violent whipsaw action than anything. (that statement relating back to boxes #1 and #2)

I hope this helps and it will get you in on some early trend reversals from a true trend retracement.

God Bless.




Quoting bob_inabottle
Hello!

Great to see you round Ice, you guys and girls that trade low timeframes really get my respect . Ice I have posted a Eur 5 min chart with what I see as set ups over the early eur/ldn session today. Circles 1,2 and 4 are nice setups that would bring in 20 pips with a 10 pip stop (nice work if you can get it) circle 3 is where the ma's are crossing the 72.... I don't take trades like that but what do you think?

I am still a large timeframe cornflower user... but i have a few "spare" hours each night, so if the setups are there...
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower eurusd 5min 3-17-09 #2.jpg Size: 117 KB
Chance favors the prepared mind.
  • #1,772
  • Edited 3:22pm Mar 20, 2009 2:43pm | Edited 3:22pm

Hi everyone, I have some good news! A Cornflower EA has finally been created! I think this is the very first Cornflower EA posted in this thread that automatically takes the trades for us! I did see another EA here, but it just gave arrows and audio alerts of trade setups, but it did not take the trades automatically...it required the trades to be taken manually. However, this EA takes trades automatically.


Earlier this week I posted in the "Programming Discussion" section of FF a thread requesting someone to make an EA for our wonderful Cornflower system. Only one person was kind enough to agree to make the EA for us ... and he was nice enough to do it for free. His name is Postrock and I want to thank him for making this EA for us. Thanks Postrock!

I will say, however, that I have not yet tested it ... so I hope I'm not being too premature in posting it here right now. I just want to let everyone know that an EA is available right now and I wanted to give everyone an early chance to test it.

With this EA you have to set your own stops and targets. You also have to set your own timeframe and your number of lots you want to trade. You can also choose any of the Cornflower ema's you want as the trigger ema (the ema you want a trade to enter on when it touches).

Even though I still think trading manually is probably the best way to trade this system (or any system for that matter), I think it is worth a try to see if an EA can actually be profitable. I figure there's no harm in trying (just be sure to test it thoroughly with a demo account before using a live account).

Here is the link to Postrock's post of the EA. In his post he explains in more detail about the EA and the settings. Without further delay, here the link the the message by Postrock that has the EA:

http://www.forexfactory.com/showpost...3&postcount=13

Happy Trading!


Topgun
"Success is not a fantasy, it's a formula." - MTI
  • #1,773
  • Mar 23, 2009 8:17am Mar 23, 2009 8:17am
Well after seeing so much shake I decided to try some of the 4hr got this set up lsat night. I ended up falling asleep but woke up and saw that it was a couple of hours and only a few pips in profit 38-40 so I ended up taking the profit it just wasnt moving like it needed to and went back to bed. Hope everyone is trading well.
Attached Image (click to enlarge)
Click to Enlarge Name: cornflower1.JPG Size: 112 KB
  • #1,774
  • Mar 23, 2009 1:57pm Mar 23, 2009 1:57pm
i am wondering if it is get ready to buy eur/usd?
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{Promotion Removed}
  • #1,775
  • Edited 7:46pm Mar 24, 2009 6:42pm | Edited 7:46pm
Quoting Topgun_1
Hi everyone, I have some good news! A Cornflower EA has finally been created! I think this is the very first Cornflower EA posted in this thread that automatically takes the trades for us!
I'm really suprised nobody here has not said anything at all about the Cornflower EA that has finally been developed.

As I remember, throughout this thread there were several people asking for an EA to be used for the Cornflower system. Now we got one and nobody seems to care.

For those that care about it, here is some info about it and how I am using it:

I am currently trading on 2 demo accounts – FXDD and Interbank. I was using Alpari but I decided to drop it and focus on the other 2 demo accounts.

(I am editing in the below part because for some reason it did not go through when I originally posted this message).

I am trading the 5 min chart on FXDD. I am trading only with the eur/usd with the 5 mn chart. I am testing a 15 pip SL and 30 pip target. I am using the 12 ema for the trigger (entry).

WIth the Interbank platform I am trading the Cornflower on the 1 hr chart. I am testing a 30 SL and 60 target with most currencies. With the gbp/jpy I am using a 40 SL and 80 target. I decided to use the 8 ema (instead of the 12 ema) as a trigger for the 1 hr trades. Since the EA will currently take only 1 trade at a time, I have several currencies set up with the EA. This gives me better odds that it will almost always be in a trade. Because when one trade ends, hopefully another will happen very quickly.

Currently we have 2 minor problems with the EA:

1. The rules state the ema's need to be in an angle for the best results for a trade. RIght now the EA wil enter all Cornflower set-ups whether or not they are in an angle. Last week I asked Postrock (the developer of the Cornflower EA) if he can make it for the ema's to be in a 20 degree angle for the trades. He said maybe he can do it this week.

2. It looks like the EA will take no more than 1 Buy trade and no more than 1 Sell trade at a time. This basically means it won't take more than 1 trade at a time (unless you are trading with more than 1 demo account ... as I am doing. Then you can take 1 trade on each demo account). Postrock said he plans on fixing it so we can trade with several currencies instead of just one.

I hope he can get these problems fixed. Postrock has done a good job making the Cornflower EA. If he can fix these problems, then I will really be excited about it.


Topgun
"Success is not a fantasy, it's a formula." - MTI
  • #1,776
  • Mar 24, 2009 6:45pm Mar 24, 2009 6:45pm
I appreciate your work Topgun. I'll be watching with interest.
FF journal: Peaks and Troffs
  • #1,777
  • Mar 25, 2009 12:34am Mar 25, 2009 12:34am
Top Gun,

Everything sounds awesome. I am not too particular to EA's so I didn't have much to say about this one BUT there are many times when I wake up or get to a chart and realize that I missed 3 good trades in a row!

Very frustrating and if this EA could get the business done that it needs to then I will surely give it a try.

Thanks for your efforts and God Bless.
Chance favors the prepared mind.
  • #1,778
  • Mar 25, 2009 12:50am Mar 25, 2009 12:50am
Topgun

I care.... I am not with an mt4 broker and so even if I wanted to I can not use it.

To often when someone makes an EA for free people will say but it wont do this or can you change it to do that?
I am not asking for these things to be changed or for any new EA to be made but just saying what I see as problems with it for me.

The angle thing may be something people use but by the nature of how Cornflower works when the EMAs are lined up the market will have been running and some angle will be present, I know they can flatten out when things are quite but often that will mean they are jumbled up and I'm not looking to trade in that situation anyway.

Also one of the ways I enter a trade is by using the high/low of the bounce candle to enter, this means (at least some of the time) that trend has resumed and the market is showing this by moving back away from the bounce EMA, having this filter means not always getting in at the best price but also not getting stopped out every time price just keeps going the other way.

Also what about Lever's 5min entry, also a good filter?

Hope this helps


Bob
  • #1,779
  • Mar 25, 2009 6:37am Mar 25, 2009 6:37am
Hi TopGun,

Thank You . You too, PostRock

I will test this on 8 pairs (EU,UJ,Uchf,Ucad,GU,Eaud,EJ and GJ). For now , I am thinking of a risk to reward ratio of 1:1. But who knows in future, it may change.

Once again, thanks to TopGUn and PostRock. Both of you
  • #1,780
  • Mar 25, 2009 7:48am Mar 25, 2009 7:48am
Quoting lever70

I say we start a new Cornflower EA thread. That way we can keep discussions about the system and EA discrete.
hi TopGun..this was posted earlier by lever70...what do you think?
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