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Inside Bob's bottle

  • #1
  • First Post: Edited Nov 3, 2009 3:42am Mar 19, 2009 3:25am | Edited Nov 3, 2009 3:42am
Hello, welcome to my journal!

I have been using The Cornflower system for some time now, if you are not sure about cornflower you should look at this thread http://www.forexfactory.com/showthread.php?t=26205, it's a great system and many thanks must go to Lever 70 for showing the world how to use it.

A guy called Iceman777 has been using this method on 5 min charts (well almost the same just differnt EMA's) so I have decided to take the challange to see if I too can turn a profit trading this way. Having been a 1 hour and up timeframe man in my trading life I know this will be tough. I really have respect for people that are able to trade short timeframes and make pips! .



Hope you enjoy reading and If you have a question please ask.... we are all here to help each other!
  • #2
  • Mar 19, 2009 6:17am Mar 19, 2009 6:17am
Well after sitting around for a while the market showed my first trade for the journal!

But it was a 13 pip loss, so I will come back next Monday to give it a R.H.G. (red hot go)

Have a good day trading!

Bob
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 112 KB
  • #3
  • Mar 20, 2009 3:58am Mar 20, 2009 3:58am
Well 1st trade today went short @ 1.3637 and was stopped out for 15 pips

2nd trade was a bit more positive with a 30 pip gain entry @ 1.3666, + 15 on the day! off to bed now for Bob.

Have good weekend traders

PS I don't know why but I am not able to post a chart at this time ... will try over the weekend or Monday
  • #4
  • Mar 21, 2009 6:15am Mar 21, 2009 6:15am
Hello Bob, just want to say hi to another cornflowerist btw, are you going to play with the Cornflower EA? good luck and happy pipping Bob
  • #5
  • Mar 21, 2009 6:04pm Mar 21, 2009 6:04pm
Chart from Friday
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 106 KB
  • #6
  • Mar 23, 2009 3:14am Mar 23, 2009 3:14am
Quoting hartnet
Hello Bob, just want to say hi to another cornflowerist btw, are you going to play with the Cornflower EA? good luck and happy pipping Bob
Hey Hartnet!

Thanks for dropping in, It will be good to see how the EA works out, the main reason I wont be using it is because I dont enter on every bounce (so far in my 5 min trading I have been setting a stop order on top/bottom of the bounce candle) Im also not with an mt4 broker so I guess I will just have to see how you guys and girls go with it all.

Good luck and stop in again wont you?!

Bob
  • #7
  • Mar 23, 2009 4:40am Mar 23, 2009 4:40am
Sure Bob, i will drop in from time to time

I will be trading EU 5 minutes using Iceman's EMAs (43,24 &16). It looks smoother on EU. But I am still figuring out the take profit and stoploss management on this.
  • #8
  • Mar 23, 2009 5:48am Mar 23, 2009 5:48am
Hey

Today the market showed me (as it always will) why I need to just stick to the rules! The rule I broke was only take trades off 12 or 24 bounces ... I got in off a 72 bounce (the 3rd circle) because I thought the 3 other 72 bounces today (the blue arrows) were good trades so .... I broke my rule -15 pips on that one!

1st circle was a sweet trade +30
2nd circle was good setup but not to be - 15
4th cricle again looked the goods but what can you do? so today should have been a breakeven day but because im a bimbo its -15

Well now better for having been shown how the market works agin ... ill be back tom .... ready to stick to what I know works

Trade well


Bob
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 105 KB
  • #9
  • Mar 24, 2009 6:43am Mar 24, 2009 6:43am
Hello!

Well today I was unlucky to be out for the 1st few hours of the EUR session because i missed some great trades

The 1st circle is a loss started out well but -15

2nd circle is also a loss, really was to close to the GBP fundy so got smacked around like i should!

3rd circle looks like it might be a breakeven (I moved my stop after that nice long wick formed) stop is:1.3545 and Profit is 1.3515, will have to see how works out tom, i'm off to bed!

Happy Trading

Bob
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 104 KB
  • #10
  • Mar 24, 2009 11:52pm Mar 24, 2009 11:52pm
I'll be following your trades Bob. I always look forward to your analysis.Good luck.
FF journal: Peaks and Troffs
  • #11
  • Edited 3:17pm Mar 25, 2009 6:32am | Edited 3:17pm
Hello!

Thanks Bogus for dropping by!

1st circle was a good trade, I set my Stop for 15 pips and take profit for 30, moved Stop to breakeven after 20... and was stopped out for 0.

2nd circle played out same way as the 1st, same stop,profit and breakeven target and was stopped for 0 again.

The one thing about this is that had I not moved my Stop on the first trade it would have found its profit target, this would mean not taking the second trade as I would still have been in first.
Also if I was using Icemans target of 25 pips and not 30 then both trades would have taken profit and thats an even better result, I will stay as I am for now and if I find a patten forming then ill have to look at changing wont I?!

Bob

P.S having problem with pic loading again.. getting 500 error message, will load tom!
Attached Image (click to enlarge)
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  • #12
  • Edited 2:26pm Mar 26, 2009 5:22am | Edited 2:26pm
I know Bogus will like my title...

Ok well first things first, I took a trade on the EUR going short as the circle shows the EMAs were all at the point of crossing over, my thought was that this would be a strong point (Iceman uses things like this in his trading) for a bounce and well it was not! so -15 pip there.

I really got sick of the Yo Yo factory effect that the EUR was having so I thought I might pull up a chart of the Oz and NZ just to see what was doing, and the Oz looked ok but man the Kiwi was in what looked like a good tend.

Took a long off the 24 bounce and set my target for 30 pips (sounds alot to ask of the NZD to me) moved my stop to breakeven after going +15 and almost hit +30 but was stopped out at 0.

Now I really think I need to get over this 30 pip (2:1) thing, had I used 25 pip profit targets last night and tonight I would be +60 for the 2 nights.

All in all tho the NZ might have legs ... will keep an eye and mind open

Trade well

Bob
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: NZD.jpg Size: 89 KB
  • #13
  • Mar 26, 2009 7:31pm Mar 26, 2009 7:31pm
Hi,

Can you post some of your H1 trade? So far, your 5 minutes trade has been educational to me. I noticed that in 5 minutes 10pips take profit will be achieved most of the times. But the stoploss placement is just problematic to me. Too tight, i.e 10pips (if you are thinking in terms of 1:1 risk ratio) and it will be hit before the trade goes your way. In the end, you have what is called famously " death by thousands stops"

Have a good pipping day, Bob
  • #14
  • Mar 27, 2009 1:21am Mar 27, 2009 1:21am
Quoting bob_inabottle
I know Bogus will like my title...

Ok well first things first, I took a trade on the EUR going short as the circle shows the EMAs were all at the point of crossing over, my thought was that this would be a strong point (Iceman uses things like this in his trading) for a bounce and well it was not! so -15 pip there.

I really got sick of the Yo Yo factory effect that the EUR was having so I thought I might pull up a chart of the Oz and NZ just to see what was doing, and the Oz looked ok but man the Kiwi was in what looked like a...
Mate, even I don't trade the Kiwi usually. Its a bit too skittish for my liking but I took one the other day that worked out. Stop placement is my worry when trading it, it's just got no respect
FF journal: Peaks and Troffs
  • #15
  • Mar 27, 2009 9:03am Mar 27, 2009 9:03am
Hello!

Ok well Friday in the past has been a bad day for me, but when I got home after dinner just saw this setup so I took it and because of this I am up 25 pips today (maybe if I am going to keep this 5 min stuff up I should go out for dinner more often) Will try and post higher T/F charts on Sunday ... no higher T/F trades this week but still might show something from last week.

Trade well

Bob

P.S go the swans on Sat night!
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 91 KB
  • #16
  • Mar 27, 2009 9:06am Mar 27, 2009 9:06am
Quoting bogus
Mate, even I don't trade the Kiwi usually. Its a bit too skittish for my liking but I took one the other day that worked out. Stop placement is my worry when trading it, it's just got no respect
Well Bogus one thing about kiwis is they know respect... Even if their dollar wont!
  • #17
  • Mar 27, 2009 5:43pm Mar 27, 2009 5:43pm
Quoting hartnet
Hi,

I noticed that in 5 minutes 10pips take profit will be achieved most of the times. But the stoploss placement is just problematic to me. Too tight, i.e 10pips (if you are thinking in terms of 1:1 risk ratio) and it will be hit before the trade goes your way. In the end, you have what is called famously " death by thousands stops"
I know what you mean Hartnet, So far I have been using a 15 pip stop on every trade and have been happy... not to many stopped by just 1 or 2 pips, because we are looking for is a turn around back to the direction of the trend at the EMA in my mind a big stop is not needed... if it was then its not a cornflower trade

Sometimes price will retest the EMA, to try and get around this I place my entry 2 pips beyond the bounce candle, just a differnt way to check that price really is moving in my direction... but remember I am no master ... even less so with 5 min candles

If a 1:1 ratio can make you sleep well at night then maybe 15 pip targets can work for you on the EUR, I need 1:1.5 to get right amount of shut eye
  • #18
  • Mar 30, 2009 2:52am Mar 30, 2009 2:52am
Well some good trades went down in the asian session today and those trends look at this stage to be rocking on into the Euro time slot

1st trade I took was on the EUR with a good candle right in the 12/24 EMA area... +25 pips

2nd trade was on the JPY and at first the wick just got over the 8 but as a few more candles formed price moved a bit more sidways and bounced off the 12 EMA, +25 pips too

hope you all had a good day trading!

Bob
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Eur.jpg Size: 111 KB
Click to Enlarge Name: JPY.jpg Size: 103 KB
  • #19
  • Mar 31, 2009 5:46am Mar 31, 2009 5:46am
Hello

Today worked out well after a scary start

Circle 1 shows a trade I took that was 40 min before a major fundy, 10 min after the fundy I was stopped out -15 pips as I should have been

Circle 2 is another trade with a good reason not to take it (whole number 1.3300) but as the trend looked strong... things worked out for +25

+10 pips for the day.

Trade well

Bob
Attached Image (click to enlarge)
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  • #20
  • Apr 1, 2009 3:14am Apr 1, 2009 3:14am
Today I did some more late asian trading

1st on the AUD this one set up almost as the 1st trade in a new trend, got stopped out pretty quick and even tho price kinda went my way after... it did not reach my profit target. Just as a side note, NZD had a trade at the same time that would have taken profit and not stopped out

2nd chart is the Eur. 1st circle was pretty soon after my OZ trade and took profit, 2nd Circle went 19 pips up ... so when it started to turn bad I moved the stop so at least it would make the day breakeven. Might take another look after dinner... or get some Z's

Happy trading

Bob
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Eur.jpg Size: 107 KB
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