CHOROS System

There is a TON of stuff in the thread. Hence the reason I want to presever it somewhere, but 50 megs is alot of space!

I have nearly finished the thread and I can assure you, most of the questions you are goign to ask, have already been answers and it MASSIVE detail.

The thread has many many trades in it from everyone, Clay included and they are nearly ALL broken down and commented on.

If you have the time, I would HIGHLY suggest you read through it.

Regards

Lee

*EDIT*

I will preserve it. I'lll get it into a PDF at some point and 'host' it somewhere for people to download.... maybe a torrent or someting to that effect.

I will preserve it. I'lll get it into a PDF at some point and 'host' it somewhere for people to download.... maybe a torrent or someting to that effect.

Good idea Leemonk! I have a premium rapidshare account and will be happy to help you to host it there.

I'll do this from the office tomorrow and then bring it home on a memory stick.....

Just finished reading it all!

Any thoughts on the Trade What You See thread? It is super dense and seems to involve more risk than Dance trades. Preference?

I got half way through reading that thread.......... and its a long thread. THe main reason I stopped to be honest that the owner of the thread has not been on for a long time.

I dont want to speculate to much by I know he had similar issues with some other fools that wanted to tell him what he was doing was impossible.

There are some major similarities, but it is a fairly complex statergy. It uses around 15MA's across 3/4 timeframes.

That said, I know the likes of EO and Pippinole get around 1500 pips per week from it.

If you want a clearer breakdown of all the trades in there, there you should look no further than Kenneth Lee's thread - http://www.forexfactory.com/showthread.php?t=216241

He breaks down some of the trades outstandingly well and his manuals are outstanding.

To be honest, depending on your level of experience, it's incredibly indepth.

I would recomend two things. Either stick with this first..... as this is far far simpler or if you do want to have a look at it, pick out one or two trades and learn those before tring to master the lot as there are a serious amount of them!

Another thing, at first glance, and similar to this, it 'seems' as though its all about touches, bouncings, retraces etc etc, however it is just as much about PA around MA's as this strategy is.

Ask Endroute, it's similar to how he traded previously which was why he was an avid poster in the thread. You will also see lots of similarities with his MA's, Clay's MA's and EO's MA's.

Regards

Lee

*edit*

This last bit is 2nd hand information and has in no way been confirmed by EO. I had heard that EO was now taking a preference to trading just 30/40 pips per day at a significant risk rather than aiming for 250 pips per day. If that is the case and it certainly makes sense, then I would 'imagine' that it will boil down to a few key trades for him, thereby the stategy wouldnt be to differnt to this.

Endroute may be a better person to ask about it all as clearly he is far far more experienced in both methods..... hmmm by saying far far more experienced, I make it sound like I have some..... lets be clear.... I dont!

Thanks. I think I'll be sticking with the overall style. I visited another thread about the closing of Dance. Seems like even if there were some ulterior motives, the system concepts are solid, especially considering the existence of other similar systems like What You See.
I live right near where they were saying Clay's IP is located. Maybe I know him!

Hi all, I've got only one question to everybody: how do you prefer to exit from the dance trade? I can detect entry, but I can't detect good exit (and I don't like exits described in manual, or I don't understand it).

Alex,
According to the Dance you can follow the trade by following your SL at the previous 15M bar. So for a long trade your SL is 2-3 pips below the low of the previously closed 15M bar. Opposite for short (+spread).

What I have found to work for me is to grab quickly your profit before that (12-15 pips per trade usually). Obviously, in this way you may loose opportunities for many more pips but it has the advantage to give you higher winning% since even in a fake bounce you can almost always get 10-15 pips.

Kostas

Kostas

Alex,

Near the end of the original thread there is a post from Clay which has a script which opens two trades. With this you can close one off early as Kostas suggests and then set the other to either breakeven OR set the SL to where you have just closed the other one..... assuming of course that the price is no less that 5 pips (maybe more, maybe less) from the current price.

What this will acheive is 50% profits at a point where you want...... at this stage, I'd recomend you take a look at Kostas success's as this will be a great indication of when to take profit and then set and advanced SL ahead of behind that. If price moves back, it hits the SL which will already be in profit, if it continues forward, you are still in the trade and you can follow the PA with your stop losses.

Another thing to bear in mind, my broker allows me to close partial trades. So if I have a whole lot in (1.0) I can close an amount of that (in 1/10th's). So..... you could even close off partial trades of the trade that is continuing. It requires a little more involvement and is not 'by the rules', but it is an option.

I am not sure if ALL brokers offer this.

Regards

Lee

Here is an EA to do this that a good friend has shared with me. It was also used in the infamous C4 thread (hope I am not banned then...). The EA will move the SL to BE at any point you set it for and it will also take partial profit at any point you tell it to.

Kostas

P.S. A bird told me that Bluemaster may be preparing something good too

I have received the following files. The files contain the Dance thread in web archive form and were created by the thread's starter. You can download at:

.com/files/387146667/TheDancePartOne.zip
.com/files/387146670/TheDancePartTwo.zip

I am not sure if I am allowed to post links like that so I removed the first part, but you can use your rapid-imagination about what it is.

Useful to study the experience accumulated so far with this technique and then continue in the CHOROS thread.

Kostas

Anyone else get stopped out on the EJ when it hit the 50 with that large bar Then is goes down. ha ha. Not sure a 11 pip stop is big enough with this pair. DEMO only.

Just looking at the cable chart - I think (as this is new to me ) we had a one bar candle hit the 35 and would also of stopped you out then it hit the 50 which also would of stopped you out if you had taken it

Tough day by the looks of it.

Yea I'm not so sure about the dead end trade concept. That EURJPY one was only good for a few pips before it went to stop out, and as I re-read the PDF on Dance, it specifically says those trades may only be good for a few pips. The spinning top candle afterward was a good entry if you caught it before price went jetting down.

Caught it in the thread leemonk told me about.
http://www.forexfactory.com/showpost...&postcount=901

There is some posting of live trades over there. Would be great if we could do the same here. I didn't have any good ones today.

Hi,

Which candle time are you refering too?

If its the most recent touches (2.30 & 2.45 - gmt+2) then I would suggest that the 15min 10 had already 'scooped' up the price and was starting an uptrend. At least that's the way it looks to me.

There are earlier touches which also match your descruiption though, so I am unsure which you are refering too.

Regards

Lee

I like that scooped up price thingy - 15 min candle, time as you stated.

When do we decide that price has been scooped up, as the ej trade looks like price was on a uptrend as well - to be honest when price hits the 35 or 50 it must be scooped up. Unless we are looking for big 15 candles to get there which i suppose we must be.

Going to read and the re-read the manual this weekend and start all guns a blazing next week

Appreciate the comments and help lee

Just seen your picture Lee. The two bull candles you have marked are the ones I was referring to

I am not sure that the 'scoop' is in the manual. If you haven't already, I would HIGHLY suggest you read through the original thread or download the thread from the links provided by Kostas.

There is a SERIOUS amount of information in there that doesn not 'really' feature in the manual. The manual provides a base set of rules, but the thread breaks down a TON of charts, just like we are doing here.... but from guys FAR more experienced than me!

However, there are two other signals that price might have reversed.

There is a spinning top at the bottom of the drop and then a hammer/doji with a LONG LONG wick. Now normaly hammers need to be at the bottom of the move downwards to 'fully' count, but the length of the wick shows that there was a strong rejection of price there.

One thing I will say, is that Clay was spot on with some of his earlier comments. When others post and ask questions, you get better. Each time I looked at that chart and thought, I wouldn't have taken the trade, I see more reasons why.

Don't get me wrong, it can be all to easy to find reasons not to take trades, but the things I have listed have caught me a few times and these answers were similar to what I got at the time.

Regards

Lee

ps. I updated the chart with the new comments on spinning top and hammer/doji below

After reading all the ranting against Dance and MA trading in the Dance Ponzi thread, I want to reiterate that we should post a lot of charts next week to make sure we're trading successfully.
MCFly mentioned in there that with several other systems using MAs (Trade What You See, james16), there must be some worth to it.