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kostas1 May 12, 2010 4:36am | Post# 1

CHOROS System
 
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Hi all,

CHOROS (pronounced ho-roh-sh) means Dance in Greek.
Since that's where I am from, I thought I could use this as a name since anything else could be considered dangerous. My name doesn't start from "e" which is also considered dangerous in FF.

Anyway, I am posting this just to have a home for those who want to continue discussing the Dance strategy which has been moved by the admins. My experience with the strategy is very positive so far and I will continue trading this way since it has changed my results dramatically. Original rules here: http://www.forexfactory.com/showthread.php?t=224697
(EDIT) Clay decided to offer even more help by updating his manual and allowing us to post in the CHOROS thread:
http://www.forexfactory.com/showpost...postcount=2591
Reposted here: http://www.forexfactory.com/showthre...36#post5920136


I would like to keep this place clean with the same strict rules that the original thread had. I will not be able to post as often as Clay but feel free to help each other in here. Also this thread is not to argue about if the ban of the original thread is fair or not. There is a thread for that already in the Member's Lounge. This thread is only for the original strategy.

For now I leave you with a picture of my account BD and AD (Before Dance and After Dance).

Kostas.

EDIT: MM rules on page 72, post 1080

ADDED 31/03/2011: duffypratt has done some excellent work creating a table of contents for the thread. A big thanks to him from the rest of us. The TOC is attached as a Word document below (for those of you that don't already know, if you hold "CTRL" and click on the link, your browser will get you to that post.





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Chicopips May 12, 2010 4:51am | Post# 2

Please be careful to be inelegant in your writing style, apparently certain styles are frowned upon if they infringe on the style of other members in certain standing in the Forex Factory forum.

Glad to see a thread to support this simple yet effective trading style.

Trotty May 12, 2010 4:54am | Post# 3

Top man Kosta! That really made me chuckle.

The real shame of what happened here is that we had such a positive and friendly vibe on our thread that those with intentions to remove it, probably never saw.

I think you should kick things off with a summary of how you have traded it and how you have used it with your own little spin. It is a great way to use this strategy to steadily grown an account.

It's a shame you can't access the chat mate, your input is sorely missed

kostas1 May 12, 2010 5:03am | Post# 4

Top man Kosta! That really made me chuckle.

The real shame of what happened here is that we had such a positive and friendly vibe on our thread that those with intentions to remove it, probably never saw.

I think you should kick things off with a summary of how you have traded it and how you have used it with your own little spin. It is a great way to use this strategy to steadily grown an account.

It's a shame you can't access the chat mate, your input is sorely missed
Trotty,

I am trading from work through a firewall which doesn't like the chat software. I miss you guys too.

The twist that I added to this method can be described by the following:

1. I have always open a M1 chart during trading which helps me fine tune my entries & exits.
2. I tend to take quick profits. My daily target is 30-40 pips with 3% risk. So usually using the Dance rules I can achieve this in 3-4 trades (each from 8-15 pips). My SL is no more than 15-19 pips. If I judge from M1 that action doesn't like me I stop the trade earlier than 19 pips.
3. Other than that the name of the game is to react quickly during the normal Dance bounces (MA, RN, etc.). IF you reach daily target then you immediately quit for the day. If you reach daily loss you also quit.

In time I will mention a couple of other things that I found to be helpful in getting higher winning %.

Kostas

Trotty May 12, 2010 5:18am | Post# 5

Trotty,

I am trading from work through a firewall which doesn't like the chat software. I miss you guys too.

The twist that I added to this method can be described by the following:

1. I have always open a M1 chart during trading which helps me fine tune my entries & exits.
2. I tend to take quick profits. My daily target is 30-40 pips with 3% risk. So usually using the Dance rules I can achieve this in 3-4 trades (each from 8-15 pips). My SL is no more than 15-19 pips. If I judge from M1 that action doesn't like me I stop the trade earlier...
Great stuff, cheers Kosta

leemonk May 12, 2010 5:34am | Post# 6

Hi Guys,

I am here.

Not that I am a whole heap of help to anyone presently!

Good job EKOstas.

Funnily enough, I had a great question for you this morning and I can't bloody recall it now.

I am sure it will come.

Regards

Lee

ps. Can/Will you include any of the original material or is this simply a continuation?

I only ask as newer people won't know what the hell is going on. May be we can post the MA's or something? I dont want to mess with your thread especially gven the sensative nature of it all.

Regards

Trotty May 12, 2010 6:00am | Post# 7

Trotty,

I am trading from work through a firewall which doesn't like the chat software. I miss you guys too.

The twist that I added to this method can be described by the following:

1. I have always open a M1 chart during trading which helps me fine tune my entries & exits.
2. I tend to take quick profits. My daily target is 30-40 pips with 3% risk. So usually using the Dance rules I can achieve this in 3-4 trades (each from 8-15 pips). My SL is no more than 15-19 pips. If I judge from M1 that action doesn't like me I stop the trade earlier...
Kosta,

Juneman has asked me to tell you that if you go onto the site now and download flash 9 from the front page, you should be able to get access from work. If you are still struggling, he will get in touch with you if you send me a PM with contact details and he will sort it out for you. He reckons it's easy to sort out.

In the meantime, do you mind if I put a link to chat room here? Therre is now no charge for anything and Juneman has said that he will not accept any donations from anyone either. This should hopefully prevent admin making me a commercial memebr for putting the link up (this is why Juneman can't post now)!!

Cheers mate

Trotty

shz41 May 12, 2010 6:07am | Post# 8

So what is the system???
 
??

kostas1 May 12, 2010 6:11am | Post# 9


ps. Can/Will you include any of the original material or is this simply a continuation?

I only ask as newer people won't know what the hell is going on. May be we can post the MA's or something? I dont want to mess with your thread especially gven the sensative nature of it all.

Regards

Lee,
You are correct. I have updated the first post with an appropriate link.

In my opinion, what's described there is a great start, but if we find in this thread that we can evolve the system we certainly can do that. I for one will add some observations later on.

Kostas

kostas1 May 12, 2010 6:15am | Post# 10

Kosta,...
Thanks for the effort mate.
I have personally experienced the chat and I can vouch for it. In short, a great bunch of guys that are honing their trading style by using predominantly the Dance strategy. Since there is no charge I have no problem if you post the link here.
Oh, before I forget if you get in the chat be ready to experience some good laughs too.... (humor is abundant in there).

Kostas

leemonk May 12, 2010 6:18am | Post# 11

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Lee,
You are correct. I have updated the first post with an appropriate link.

In my opinion, what's described there is a great start, but if we find in this thread that we can evolve the system we certainly can do that. I for one will add some observations later on.

Kostas
I was going to post a template with the following MA's on if its okay with you?

The second set in the 15m and the 1hr are the 1hr and the daily equivalents. I was going to put this on one template and then people can add to it at their end with which ever other indicators they wish and save the relevant TF's

15m

10 ema
35 sma
50 ema

40 ema
140 sma
200 ema
248 ema

1Hr

10 ema
35 sma
50 ema
62 ema

120 ema
420 sma
600 eam

D1

10 ema
35 sam
50 ema

*EDIT*

Please note that this template reflects where I currently am in the original thread. Endroute, I beleive had added the 1hr 62ema, which Clay was happy with and at this stage I am looking at charts which now contain the 1hr equivalents on the 15minute. I have just added the Daily equivalents to the 1hr chart.

This template does not include the following indicators: Candle time, Spread, Clock and Round Numbers (RN). RN is important to this method so please ensure you download it from Kostas' link.

Please remove as nessesary.
dancealltf.tpl

leemonk May 12, 2010 7:03am | Post# 12

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Kinda sad to post here knowing Clay isn't going to comment on it.

Regards

Lee
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leemonk May 12, 2010 7:09am | Post# 13

Kostas,

Can I ask where you get that information from, ie your charts that show your equity curve?

Suranga,

We might be able to quote from the original thread, so we can preserve key information that way too.

Lee

kostas1 May 12, 2010 7:14am | Post# 14

Kinda sad to post here knowing Clay isn't going to comment on it.

Regards

Lee
Lee,
In my experience it's best to take the first touch on the M15 scale. The second may be an attempt to cross.
On the other hand, I have found that on the M1 scale most times is better to take the 2nd touch. This means that while the M15 bar touches for the first time, the M1 will touch fake you up and then come back down to take your small SL. It will then go back up in the right direction. I call this head-fake and has helped me a lot to avoid some bad trades.

Kostas

kamardinho May 12, 2010 7:33am | Post# 15

Lee,
In my experience it's best to take the first touch on the M15 scale. The second may be an attempt to cross.
On the other hand, I have found that on the M1 scale most times is better to take the 2nd touch. This means that while the M15 bar touches for the first time, the M1 will touch fake you up and then come back down to take your small SL. It will then go back up in the right direction. I call this head-fake and has helped me a lot to avoid some bad trades.

Kostas



i wont mind an example to explain this better because i don't get it, i think it will help. please kindly reply this.


thank you all and God bless everyone

mistersimple May 12, 2010 8:23am | Post# 16

btw thanks to the original author for books in the package (napoleon's is a must!)

leemonk May 12, 2010 9:01am | Post# 17

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Not sure if this one is with the rules or not. It seemed so at the time, but looking at it now I am not so sure.

It does matter to me if its with the rules or not as I need to get to a point where I have a solid foundation in my trading before I start branching out.

COmments are welcome, infact are encouraged
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messiahua May 12, 2010 9:06am | Post# 18

COmments are welcome, infact are encouraged
I guess you should have waited at least till COB. This candle could have quickly reversed. Now it's going down fast... I guess it's better to wait for some confirmation in such cases (at least 3 bars?), but the best for me here is to not do anything and wait for a better by the rules setup.

Milton May 12, 2010 9:44am | Post# 19

Not sure if this one is with the rules or not. It seemed so at the time, but looking at it now I am not so sure.

It does matter to me if its with the rules or not as I need to get to a point where I have a solid foundation in my trading before I start branching out.

COmments are welcome, infact are encouraged
In all three charts, you have big red down momentum bars. There was no buying. That's my opinion.

leemonk May 12, 2010 10:38am | Post# 20

Thanks for the feedback. I beleive there was a trade there because had I set my SL where I say I should then I would have bagged 20 pips.

Was it against the rules? Almost certainly now that I look at it. I think I may still have to much of another system in my head at this stage. That trade was straight out of EOhaters thread, where 20 pips was an almost perfect trade.

Don't get me wrong, I would have been happy with 20pips, but I WANT, I MUST get back to..... I was going to say basics, but I realise that I dont even have that at this stage.

I just read this from Clays thread and have taken the liberty of posting it here. I'll try and 'quote' it but I tend to lose most of the message when I do that.

*edit*

The quote thing didnt work, it cut most of the message. This was a message from Earret: http://www.forexfactory.com/showpost...&postcount=479

-----------------------------------------------------------------------------------------------

...........Clay has provided a strategy that if followed overtime can provide some serious results. I have been following this thread from the begining and will admit that on paper looks very easy to implement. For whatever reasons (all of which i believe are emotional) my results have not been that stellar...until last night. I had been taking many losses (very small losses) last night I noticed a setup that looked exactly like one of the setups that are in the manual...I took it!!!

Needless to say that one trade has wiped out all of my losses and then some. After I closed out that trade I sat back and thought about what had just happened and realized that this is exactly what Clay has been telling us. I asked myself why cant i just look for these kinds of trades? why do i get too anxious and force trades that do not work out? Although I had followed the rules on all of the trades the losses were not A+ setups and probably should have been disregarded, but they were not huge losses and were all recouped after one A+ trade.

This had done something for my confidence that no other trading strategy has accomplished in the past...i guess you could say it was my...ah ha...moment.


Sorry for the long post but i wanted to say thank you to clay for everything you have provided and your on going input and support to the benefit of others, it is truley inspirational.

One other thing...for those of you who have not read "Think and Grow Rich" I highly recommend. I read the book a long time ago and just finished it again...and in my opinion the principles of that book are at work right here in this thread.

Good job Clay you are living proof, on a daily basis of the principles that Napoleon Hill laid out in the book.

Thanks again
Mike[/quote]


-----------------------------------------------------------------------------------------

Sorry for the long post, but it hit a key note with me. This is where I am at. I want to take everything and am finding it hard NOT to. I take poor trades and then miss good ones that I was waiting for.

If that didn't work then I will repost in italics.

Regards

Lee

kostas1 May 12, 2010 11:39am | Post# 21

Thanks for the feedback. I beleive there was a trade there because had I set my SL where I say I should then I would have bagged 20 pips.

Lee
Lee,
As I said before, IMO be quick to grab your pips with this method. Otherwise, use partial lots so that you grab quick profit with one part and let the rest ride with BE.

Kostas

leemonk May 12, 2010 1:28pm | Post# 22

Lee,
As I said before, IMO be quick to grab your pips with this method. Otherwise, use partial lots so that you grab quick profit with one part and let the rest ride with BE.

Kostas
Do you mean the whole system or the particular trade I took?

thanks for the reply

Piotr1 May 12, 2010 1:58pm | Post# 23

Keith.......... you must be joking. How do you know that he is Keith...Please explain...This is the burning question we as his system follower require to clear. Next thing please dont bring this discussion to here.

Regards.
I also want to know what are you goal here? You didn't come here to learn... Really... If you the one of those who removed Clay and make process on learning from his method more difficult for as now, then (please understand) you can't get our respect here.

kostas1 May 12, 2010 4:27pm | Post# 24

Do you mean the whole system or the particular trade I took?

thanks for the reply

Lee,

I mean the whole system. This is my twist to this strategy and Clay adopted it partially by getting quickly half profit at 15 pips and letting the rest of the trade to ride longer.

Kostas.

kostas1 May 12, 2010 4:31pm | Post# 25

I will reiterate something for the benefit of the new guys that see this thread so they don't waste their time.

If you are looking for an automated system that is fire-and-forget, this is NOT it. With the Dance strategy you will be involved in the trade and need to build your experience with good amount of screen time. So either Demo or live DO spend time in front of the charts and see how price reacts at the MAs and the round numbers.

Kostas.

ozmacca May 12, 2010 7:36pm | Post# 26

Hi,

I have been reading the old thread and have noticed that the areas described as flatlining are good set up areas.

Did anyone ever create an indicator to draw a box or highlight in some way when this happens. For example " if Highest High Value of last (x) (5?) closed bars is within (y)(20?) pips of Lowest Low value then draw a box or star or something near those bars. If the values are adjustable then it could be used for different time frames.

Just an indi to highlight a period of indecision, obviously we then look for a break of that area.

Thanks

3xtrader May 12, 2010 9:05pm | Post# 27

Trotty,

I am trading from work through a firewall which doesn't like the chat software. I miss you guys too.

The twist that I added to this method can be described by the following:

1. I have always open a M1 chart during trading which helps me fine tune my entries & exits.
2. I tend to take quick profits. My daily target is 30-40 pips with 3% risk. So usually using the Dance rules I can achieve this in 3-4 trades (each from 8-15 pips). My SL is no more than 15-19 pips. If I judge from M1 that action doesn't like me I stop the trade earlier...
Hi Kostas, do you also use the H1 and D1 charts or just the M15 and M1?
thanks

Piotr1 May 12, 2010 11:05pm | Post# 28

The best fine tune system for entry that i know is Tkpower8 ATM . (here on ff)

kostas1 May 13, 2010 12:52am | Post# 29

Hi,

I have been reading the old thread and have noticed that the areas described as flatlining are good set up areas.

Did anyone ever create an indicator to draw a box or highlight in some way when this happens. For example " if Highest High Value of last (x) (5?) closed bars is within (y)(20?) pips of Lowest Low value then draw a box or star or something near those...
Ozmacca,
We try to keep this strategy clean from indicators. But feel free to ask in the Programming Section and if something pans out we can test it.
But I will stay at your comment that flat areas are good setups. I have observed some of these but the problem with these areas is that you don't now where price will go. More chances for fake movements there (unless you refer to constrainment areas).

Kostas

kostas1 May 13, 2010 12:54am | Post# 30

Hi Kostas, do you also use the H1 and D1 charts or just the M15 and M1?
thanks
3xtrader,

Yes I do use all these charts and M5 too. So I focus only on one currency (GU) and my screen is divided in H1, M15, M5, M1. Then when I need to, I change my H1 to H4 and D1.

Kostas

3xtrader May 13, 2010 1:40am | Post# 31

3xtrader,

Yes I do use all these charts and M5 too. So I focus only on one currency (GU) and my screen is divided in H1, M15, M5, M1. Then when I need to, I change my H1 to H4 and D1.

Kostas
Thanks Kostas,

And you trade the strictly the London Session?

Focusing on one pair seems to be a good strategy with the Dance. One pair is enough.
Hope to start making the cash...
cheers

kostas1 May 13, 2010 2:14am | Post# 32

Thanks Kostas,

And you trade the strictly the London Session?

Focusing on one pair seems to be a good strategy with the Dance. One pair is enough.
Hope to start making the cash...
cheers
London and early US.
For newbies, I will underscore the importance of focusing on one pair. In my experience this fine-tunes your reactions since you develop a feeling about how a currency moves and still provides plenty of opportunities to hit your daily target.

ozmacca May 13, 2010 2:54am | Post# 33

Ozmacca,
We try to keep this strategy clean from indicators. But feel free to ask in the Programming Section and if something pans out we can test it.
But I will stay at your comment that flat areas are good setups. I have observed some of these but the problem with these areas is that you don't now where price will go. More chances for fake movements there (unless you refer to constrainment areas).

Kostas
Hi Kostas,

I can understand the resistance to indicators like MACD RSI etc but I thought something that simply highlighted price action flatlining would be of assistance in reminding us to be aware that it was happening.

Sorry about that

kostas1 May 13, 2010 3:08am | Post# 34

Hi Kostas,

I can understand the resistance to indicators like MACD RSI etc but I thought something that simply highlighted price action flatlining would be of assistance in reminding us to be aware that it was happening.

Sorry about that
No problem. I still think you should follow your idea at the programming section and if you see something interesting we can try to see how to use it here.

messiahua May 13, 2010 5:06am | Post# 35

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Not a bad ride. Took at touch of 35/50 confluence, RN near.

Edit: added second screen where I closed it, because price was hesitating too much, so I decided, that's the bottom. +75 pips.
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agent6488 May 13, 2010 5:39am | Post# 36

I saw that EURUSD opening after the fact; missed it. I was watching EURJPY which just dropped like a stone. The problem I have with this system and many others is that I can't see entries for these huge moves.
There was a possible constrainment entry at the top of EURJPY's drop, but the 10 MA was above the other MAs. Any ideas for dealing with this? Wait for a retrace?

kostas1 May 13, 2010 6:10am | Post# 37

Not a bad ride. Took at touch of 35/50 confluence, RN near.
Nice Messiahua,
Please update your post with TP when the trade is done (to keep the thread readable I prefer that people edit/update their original trade post when the trade ends)

Kostas

P.S. I got 26 pips from the same trade but on GU. If you look at M1 GMT 7:54 and 8:00 you will see a case of double head-fake. I took the 8:00 trade short but it made one more fake move up at 8:09 to take out small SLs. My SL kept me in the trade and I got out with 26 pips

agent6488 May 13, 2010 6:46am | Post# 38

Wait for a retrace?
Did end up giving a retrace pinbar entry... would still like to know if there are any tips to catch huge moves at first with this system.

kostas1 May 13, 2010 6:48am | Post# 39

Did end up giving a retrace pinbar entry... would still like to know if there are any tips to catch huge moves at first with this system.
So far I have used this system mostly to catch re-entries on a move that has already established itself since price being above/below 35/50 means already a strong trend. Nevertheless, the contstrainments many times offer opportunities to catch big moves in the beginning.

Kostas

leemonk May 13, 2010 6:52am | Post# 40

Two Bar Rule Clarification
 
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Hi all,

I was wondering if I can get some clarity on the above in accordance to the rules.
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