One of my trades today. The others were not this clear, so not worthy for a post.
I'm sharing so we all can keep learning.
1. All Higher Time Frames are pointing down (That is using 35 SMA and 50 EMA direction, that is what we use for a feel of the trend)
2. Confluence of the following levels: Weekly Pivot, Daily R1 and Round Number (They are reasonably close between them).
3. Confluence (close enough) of: H1 35SMA, H1 50EMA and H4 10EMA
4. H4 chart looked like a Scoop-Down setup were price went below H4 35/50 and then went up to touch H4 10EMA in confluence with H4 50EMA.
The entry point was almost at RN and I got +21 pips profit.
Hello, I am planning to create Choros system scanner. Means i will automate all the information that you are trading on the chart.
Im just too lazy to read 727 pages So i need someone who trading it profitably that will let me know the moments he taking trades and information he is looking to. This will not be an EA but lets say a full functional indicator that can scan 28 pairs in one window and show all the necessary information.
-Is it first touch of the day
-Slope of the MA
-Distance from the Ma
-whether there is a zone near by
-Consecutive candle count
So , I need the rules and conditions that you are looking for. You can send me private message
Sounds like a serious intension.
But I have large doubts it can work with a mechanical bot!
-Is it first touch of the day............ First touch of the move!
-Slope of the MA........................... okay.. around 45° angle
-Distance from the Ma..................... from pair to pair a bit different because the bahaviour of each instrument is different.
-whether there is a zone near by.......Round numbers.
-Consecutive candle count.................Two bar rule
You forgot timing, news before and after, higher timeframe confirmed and a good SL and TP for every pair what can differ around 100% in the same timeframe--
The rules of the strategy are well discribed in the manual in the original thread:
The M15 Dance Manual.pdf
Slope Of the MA 45 is a bit a lot. But we can find the slope with Pip distance difference between 2 points.. Then check how much % move its compare to day or week movement range. So higher the value , Higher the slope. I think i can add some nice stuff inside with 2-4-8 bar differences so we can make sure that is an increasing angle. Like 2 bar diff should be higher than 4 bar diff , then 8 bar diff etc , The other way would show the decrease of the move. Parabol.
First touch of the move , But which move , How you define move. Any simple math explanation ? Two bar rule is fine. I think that mean price should be away from the MA , Then come back and touch that with 2 big candles isn't it ? Round numbers are ok too. We will be able to see where is the price laying against those zones. Whether they hit or not. Timing and the rest are fine too, I just need an exact definition of each trade with one simple screenshot.
There can be several screens.. Just define your entry. Strictly in few screenshots and send me.
ps. Simple and strict rule out of subjectivity will work. Just document in small one page. If it differs for each pair then write me all.
Step by step
2*2 = 4 Rules.
Move defines X , Means LO Session should open and from that moment X pips up or Low defines move.
The touch defines X , Means 2 bar from Far away comes back faster to MA.
Don't worry about how complex they sound, I just need words such as , Its yellow , It's sour, It's fruit. So i call it Lemon.
The reason i don't go with documentation , I want it from traders mouth and his checklist right before he shoots the trade. So write me several rules in simplified words, I will code them.
I have only one short discription for a "new move"
It´s when the price breaks valid through the 35 sma and 50 ema -- and a first touch 10 Ema appeares.
Or even a 35sma or 50 Ema touch.. also first touches with enough empty space to reach a target and not wide seperated,
no higher Ma is in the way, they confirm the signal, propably with a DP or round number as a additional confirmation(confluence)
How about constrainments?
Or scoop trades?
I have my eyes and about 6 years experience with this system to differ between good trades and valid but bad setups.
But give me simple words like
If 35sma cross 50Ema for the first time and price goes x pip distance (Enough empty space) Then if it goes back and touches the 35 ma. While 35 ma and 50 ma gap is lower than X pips. Confluence so on can all followed with scores. I need definition.
Enough empty space isn't valid
But Atleast 20 pip space is valid explanation for me.
So give me 5 entry screenshots that were succesfull and includes all those rules. Take the variables of that moments and write down the each rule pass them to me. I will turn it to a signal. So clear rules with written and pointed that moments needed. Even if it differs for pairs , Just make the most common one. Later special input panels can given for other pairs
-- look the last 1453 pages and they are full of successful trades..
I´m sure you´ll find examples you like the last 5 pages or so.
As a definition for empty space I´d say --
in a M15 chart should be a empty space of 15 pips minimum to round numbers and higher timeframes or equivalent.
The behaviour of every instrument makes that difficult.
GCad for example will overshoot all lines and come back with a fast move.
Slower pairs run slowly but stable to TP without any retrace.
Can you see where is my entry?
1st EMA 10 touch after news, except 4 bars retrace, made it not a perfect entry. But all TFs pointed down.
I was hoping to break the last low very soon, but it hovered between +10 and -1 two hours, made me lost patient, managed to take 11 pips when price broke the last bar high and then price shooting up 17 pips in 5 minutes. And then price dropped another 200 pips without me.
The power of 1st touch!
After missing the train, and price dropped a lot, I don't want to chase the market for shorting, and looked for long.
Very hard to make 10 pips and 18 pips in two places.
Looking back the chart, it is very hard to make money in such trending market counter-trend trading.
Unless you have strong reason to enter and take fast profit.
Nope, you already managed the trade and you were done!
Sitting on your hands while the conditions aren t given is also a kind of being successful!!
Your 2nd trade was not by the rules in any kind, looks like gambling.
keep it simple and safe your money.
..as you said in the trade before..
..the power of first touches.
Hi guys, haven't been here for a while
Is the method still working for you? Did it change your life financially for better ?
Did you figure out why it was t productive for you?
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