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Thread: The Cornflower System

  1. #1
    Director of FXOpen Aus FXOjafar's Avatar
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    Default The Cornflower System

    This one seems to be all the rage at the moment. A lot of pips being made here. Rather than just being a simple MA crossover system, this one uses the MAs as trend indicators and pullback entry points.

    I will be open to discussion about cornflower entries in the chat room from this week on as it gives us more trades to take than just the breakout trades.

    Originator's thread is http://www.************.com/showthread.php?t=26205

    -----------------------------------------------------------------
    Construct a template according to the following settings:
    8 EMA (yellow, dotted)
    12 EMA (violet)
    24 EMA (cornflower blue, hence the name)
    72 EMA (khaki)

    Apply to H1 (conservative) or M30 (aggressive) chart only and remove the grid for clarity.

    System principles
    Cornflower is based on the principle that trades should be taken when the same trend presents itself on multiple timeframes. On an hourly chart, the 24 EMA obviously defines the daily trend. The 8 EMA, which is one-third the length, shows the intraday velocity of fast money. A 12 EMA shows the trend of the last half-day. Its value is a place at which price will typically find support when there is a dominant trend. To a lesser extent, this also applies to the 24 EMA. A long-term trend will sometimes catch a breather around this area, with big money accumulating on the opportunity to buy or sell at a substantial discount. Finally, the 72 EMA defines the dominant trend in the market. This trend will reassert itself as cumulative memory persuades traders to resume trading in its direction. If the three shorter-term averages are above the 72 EMA, we are in an uptrend and should not go short. The same applies in reverse for a downtrend.

    Cornflower can be used in a number of ways by all kinds of traders. When price pulls back to the area between the 12 and 24 EMAs, the opportunity for a short- to medium-term bounce presents itself. We can enter and set a profit target based on a number of criteria, be they support and resistance areas, pivot points, or a set pip amount. Or we can enter a longer-term trade, perhaps exiting when the 12 EMA crosses down below the 24 EMA. The longer-term setups in this system are powerful and can yield hundreds of pips on a single trade that will last for up to two weeks. Cornflower will catch every major move in the market, providing multiple opportunities to take advantage of a big trend and pretend that one is a bank trader.

    Basic System Rules
    There are two kinds of entries using this system: pullback (conservative) and initial (aggressive). The pullback entry, which is the heart of this system, enters the market when conditions are quiet and after price has settled into the area between the 8 and 24 EMAs. The timing of this entry can either be mechanical (using either the 12 or 24 EMA) or discretionary in accordance with the traders judgment on whether price is moving back in the direction of the trend.

    The initial entry aims to capitalize on the first movement of a new trend, defined by a thrust beyond the 72 EMA that is confirmed by a turnaround in the shorter EMAs. It is more risky because there is always the possibility of a reversal. For this reason, it is probably better to use the M30 chart for this type of entry. Moved up by 30 minutes, one has the opportunity to take a small profit or scratch a trade at or near break-even if a reversal presents itself.

    Only the H1 and M30 charts should be used with the Cornflower template. Shorter time periods will lead to whipsaws, whereas longer time periods lag behind the market too much.

    The following rules are valid no matter the time of day. The quiet of the Asian session actually provides some excellent opportunities for entry, which is a boon for the trader whose day job makes watching the market during London or New York an impossibility.

    Pullback (conservative) entry use hourly chart
    8, 12, and 24 EMAs are all above (long) or below (short) the 72 EMA
    Price has pulled back to the 12 or 24 EMA (the more aggressive the trend, the more shallow the pullback.
    Enter for 20 pips, or hold depending on traders judgment of the strength of the trend.

    Initial (aggressive) entry use M30 chart with identical indicators

    Price has moved with authority above or below the 72 EMA. By moved with authority, I mean a candle that has closed near the top of its range.
    8, 12, 24 EMAs are all pointed in the direction of price, and preferably already stacked in a perfect order (8 over 12 over 24 for long, 24 over 12 over 8 for short).
    Enter for 20 pips and hold if the thrust develops into a real trend.

    Using hourly and half-hourly charts, 20 pips is a realistic initial profit target, especially if one is trading GBPUSD, GBPJPY, or EURJPY. Even the other major pairs should yield this much on a properly gauged signal. By major, I mean EURUSD, USDCHF, AUDUSD, USDJPY, NZDUSD, and USDCAD. With the possible exception of EURGBP, any pair that involves two of the seven major currencies should be tradable with this system. Cornflower is particularly well-suited for entering long positions on the yen crosses (carry trades).
    Attached Thumbnails Attached Thumbnails cornflower.jpg  
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
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    AFSL:412871 ABN:61 143 678 719
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    Default

    good chat room I try it

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    Director of FXOpen Aus FXOjafar's Avatar
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    Default

    Lets get some discussion going about Cornflower. I'm making 100+ pips some days with this system. Learn it, trade it, profit, repeat.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
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    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Default

    so we just need moving average?
    i tried using 8, 12, 24... but sometimes it gave me a wrong or late signal...
    how did u managed to get such a big pips?
    please share with us...

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    Default

    One important thing to remember here. We ARE NOT trading MA crosses.

    You need to look at entering on pullbacks to the MA. 8ema if the trend is strong, 12ema if medium, 24 if weak. The MAs are there just to show trend direction and strength, not as trading signals.

    The following chart shows possible short and long entries on g/u (The pathetic little white arrows) at pullbacks to the MAs. Note, you are only entering in the direction the MAs are stacked.



    A bit clearer now?
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
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    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    In Profit 13thheaven's Avatar
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    Default

    oh, so we don't have to follow the signal asap right?
    we still have to wait for a better price... and with our own analysis too..
    is that right?

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    Default

    this is pretty interesting. I'll have to try it out.

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    Quote Originally Posted by 13thheaven View Post
    oh, so we don't have to follow the signal asap right?
    we still have to wait for a better price... and with our own analysis too..
    is that right?
    You must remember, the MA cross is not a signal at all. It is just an indication of trend change. The signal you get from this system is a pullback to the ema as indicated by the arrows on the chart I posted. This way you are entering long at the bottom of a small retrace (or short at the top of a small retrace in a downtrend chart) and you get a good entry that is most importantly in the direction of the prevailing trend.

    Remember the saying "Trend is your Friend"? Cornflower makes sure you are always trading with the trend, instead of against it.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Default

    Hey this corn flower strategy seems pretty clear now.
    Did you name it yourself cornflower.

    could you post each ema so I can set it up on mine and check how trades go?

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    Default

    It's a good system for making money

    I myself tested it

    It's technically correct

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    Default

    Quote Originally Posted by MAXpips View Post
    Hey this corn flower strategy seems pretty clear now.
    Did you name it yourself cornflower.

    could you post each ema so I can set it up on mine and check how trades go?
    It's not my system. I gave the link to the originator at forex factory and I recommend that you go and read that very long thread.

    I don't know what you mean by posting each ema. Just set them up on your chart as described and go from there.

    Meanwhile I have been trading this system live in my chatroom at http://www.rebatefx.com/chat.php . There isn't much left today to go on, but if you would like to join in the chat and learn the system, see you in there from Monday from about 1hour before London Open.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
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    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Intraday Master etrader's Avatar
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    Quote Originally Posted by MAXpips View Post
    Hey this corn flower strategy seems pretty clear now.
    Did you name it yourself cornflower.

    could you post each ema so I can set it up on mine and check how trades go?
    Cornflower is a pretty goof system, but remember that you cannot trust in it 100%, like any other forecasting system.

    But you can trust Jafar (RebateFX) 100%

    He is a really professional forex trader I know him for a long time

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    wow!! another system to try.. i hope i can find already a profitable system that really works for me.. thanks rebate for this one.. i will give it a try on my demo account..

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by dollar_earner View Post
    wow!! another system to try.. i hope i can find already a profitable system that really works for me.. thanks rebate for this one.. i will give it a try on my demo account..
    That's the correct professional attitude. Always have a demo account running so you can improve your trading.
    I demoed this for 2 weeks before going live with it. It took me that long just to feel comfortable with it.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
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    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    according my experience, ema 5/13/62 is the best number, you can try..

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