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CHOROS System

  • #6,001
  • Aug 17, 2011 10:54am Aug 17, 2011 10:54am
Quoting Anthar
Hi KK, well it is not a typical by the rules entry in the way that it is not a signal from M15. It was an entry from M5 10ema touch, and it was a one bar retracement to the ema, I just waited to enter after the break of Daily Pivot.
ok ok... M5 E10 touch, yes... one-bar retracement rule as Endroute mentioned. Thanks
  • #6,002
  • Aug 17, 2011 10:54am Aug 17, 2011 10:54am
Quoting tonny47
speaking of volatility - i found this website extremely informative. you can change the number of weeks there. i found this link somewhere on forexfactory.(i wouldnt be surprised if it was on this thread lol)

http://www.forexticket.co.uk/en/tools/02-01-volatility
Yes it was posted before, but it won't do any harm to post it again. Thanks!
Flp. 4:13
  • #6,003
  • Aug 17, 2011 11:16am Aug 17, 2011 11:16am
So kostas, talking about good signals on GU... this one just occured, I wanted to post the chart and ask you mate: would you enter this kind of signals considering:

PA was consolidating before M15 10ema touch, so it wasn't a clean 2bar retracement.
Nice confluence with 35/50.

Do you have any comments?
Attached Image (click to enlarge)
Click to Enlarge Name: GU_m15M5conf.jpg Size: 127 KB
Flp. 4:13
  • #6,004
  • Aug 17, 2011 11:26am Aug 17, 2011 11:26am
Good example/question, I would also like to see what kostas would say about the M5 PA.

Quoting Anthar
So kostas, talking about good signals on GU... this one just occured, I wanted to post the chart and ask you mate: would you enter this kind of signals considering:

PA was consolidating before M15 10ema touch, so it wasn't a clean 2bar retracement.
Nice confluence with 35/50.

Do you have any comments?
  • #6,005
  • Aug 17, 2011 1:13pm Aug 17, 2011 1:13pm
Quoting Anthar
So kostas, talking about good signals on GU... this one just occured, I wanted to post the chart and ask you mate: would you enter this kind of signals considering:

PA was consolidating before M15 10ema touch, so it wasn't a clean 2bar retracement.
Nice confluence with 35/50.

Do you have any comments?
Within this M15 trend, it was the third touch. I usually take only 1st and take the 2nd if it looks good on M5. I prefer not to take the 3rd like this one.
  • #6,006
  • Aug 17, 2011 1:23pm Aug 17, 2011 1:23pm
Quoting kostas1
Within this M15 trend, it was the third touch. I usually take only 1st and take the 2nd if it looks good on M5. I prefer not to take the 3rd like this one.
Yes you're right, it is a third touch of the 10 ema, which weakens the signal... I guess it's a little more risk than needed
Flp. 4:13
  • #6,007
  • Aug 17, 2011 10:51pm Aug 17, 2011 10:51pm
Quoting Binyamin
Sure, List of topics from this thread

http://www.forexfactory.com/showthre...83#post4515983

Old dance thread,

http://www.forexfactory.com/showthread.php?t=224697
The pros here will tell you to read everything.

Do ask more questions should you need to. There are quite some legendary traders here.


Thanks a lot Binyamin. Our names are quite similar.

Foremost, I must SALUTE the person(s), who has spent so much of time writing and explaining things clearly and quite in detail. Oh man, this strategy must be generating lot of money for most of us, just a matter of some good practise with lot of patience along with good understand!!!

Wow, there is plenty of stuff to read.

It would be nice, if somone clarify the abbreviations used in the manual, correct me, if i'm wrong:

H1 - Hour 1 (hourly chart)
D1 – Daily chart
S/R – Support and resistance
M15 – 15 minutes chart
M5 – 5 minutes chart
TF – Time frame
SMA – Simple Moving Average
EMA – Exponential Moving Average
SL – Stop Loss
TP – Target Profit
BE - ????
P/A - ????

Cheers
YFx
Prefer Price Action Method!
  • #6,008
  • Aug 18, 2011 12:48am Aug 18, 2011 12:48am
BE - Breakeven
P/A - Price Action

All other correct; you pass this test with 83 marks!


Quoting yameen.forex
Thanks a lot Binyamin. Our names are quite similar.

Foremost, I must SALUTE the person(s), who has spent so much of time writing and explaining things clearly and quite in detail. Oh man, this strategy must be generating lot of money for most of us, just a matter of some good practise with lot of patience along with good understand!!!

Wow, there is plenty of stuff to read.

[color=black][font=Verdana]It...
  • #6,009
  • Aug 18, 2011 1:36am Aug 18, 2011 1:36am
good morning guys!

my goal today is to be selective and hopefully very consistent

my first trade today - price was rejected from daily pivot and went below RN, bounced of SMA35 on 5 min. went long below RN. good for +12 pips. even though i am bullish looking on longer timeframes 1h/ 4h; the 15 min chart was confusing me a little.

5 min euro chart
Attached Image
  • #6,010
  • Aug 18, 2011 1:44am Aug 18, 2011 1:44am
Hi Kostas,

could I please ask you - when you are entering trade, do you mostly use pending orders (buy limit, buy stop orders) or do you hover over the buy button to get in a trade at the market price?
  • #6,011
  • Aug 18, 2011 1:46am Aug 18, 2011 1:46am
Quoting yameen.forex
Thanks a lot Binyamin. Our names are quite similar. ...

BE - ????
P/A - ????
BE - Break even.
P/A- Price action.

Binyamin is my jewish name, the english counterpart in Benjamin.(Call me Ben or Bin I can care less) Yamin is also jewish which makes me guess you are jew too?

PS: I am not some mega rich, power hungry jew you might hear about. I am just an average fella.
Riding the order flow
  • #6,012
  • Aug 18, 2011 2:28am Aug 18, 2011 2:28am
Quoting tonny47
hover over the buy button to get in a trade at the market price
  • #6,013
  • Aug 18, 2011 2:35am Aug 18, 2011 2:35am
Quoting kostas1
thanks!

all the time?! you like adrenaline
  • #6,014
  • Aug 18, 2011 2:42am Aug 18, 2011 2:42am
Quoting tonny47
thanks!

all the time?! you like adrenaline
I like CONTROL of my trades. I am using M1 to fine-tune entries/exits. In those cases the pending orders will often get you in a trade that you shouldn't be in, or get you out of a trade that you should have stayed longer....
  • #6,015
  • Aug 18, 2011 2:49am Aug 18, 2011 2:49am
i see what you mean - i just dont like when price moves fast the way i expected it to go and i need to get in at worse price than i planned (or pass on the trade completely). but on the other side i sometimes paid up when i had pending orders at place lol.

will do it your way - i bet it will help me to gain better feel for the market
  • #6,016
  • Aug 18, 2011 3:00am Aug 18, 2011 3:00am
The daily TL seem to keep for the moment.
News on GU in about half an hour.
I am in this H1 apparent constrainment short.
Let's see....
  • #6,017
  • Aug 18, 2011 3:01am Aug 18, 2011 3:01am
Quoting Whenever
The daily TL seem to keep for the moment.
News on GU in about half an hour.
I am in this H1 apparent constrainment short.
Let's see....
I forgot the attachment

here we go :
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 135 KB
  • #6,018
  • Aug 18, 2011 3:03am Aug 18, 2011 3:03am
Quoting tonny47
will do it your way - i bet it will help me to gain better feel for the market
Do it whatever way makes you more comfortable. Both approaches have advantages and disadvantages. If you trade longer term with bigger SL, then pending order is better. The way I trade, taking shorter term profits, the market order serves me better.
  • #6,019
  • Aug 18, 2011 3:09am Aug 18, 2011 3:09am
Quoting kostas1
Do it whatever way makes you more comfortable. Both approaches have advantages and disadvantages. If you trade longer term with bigger SL, then pending order is better. The way I trade, taking shorter term profits, the market order serves me better.

i am only aiming for 10-15 pips per trade. so market order it is

haha speaking of a devil - missed the long trade on euro as it was strongly rejected at 00 and MA 35/50 on 5 min. i just hesitated for too long
  • #6,020
  • Aug 18, 2011 3:17am Aug 18, 2011 3:17am
Chart setup:-
- 2-bar H1 retracement, and
- PA "Dead end" M15/H1 bar at H1.E10 on top of each other

Consequence:-
+10pip in CHF...
Attached Image
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