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CHOROS System

  • #7,341
  • Mar 10, 2012 2:39pm Mar 10, 2012 2:39pm
Quoting metrilbg
It is very strange how the people are expecting the indicator to tell them the way the market will move. Every time someone says something or post a new indicator a lot of people look for it and study it... Hey guys it is not the holly grail.

P.S. the holly grail is in your heads not infront of your eyes...
Just had to share this

SMcGuire45 it is free, so download it, put it in your MT4 folder and try it ! Unless you do your own homework you wont get "there"!
I apologize...not trying to appear to be lazy at all. I just like to see images of indicators and how the programmer is "using" it that's all. I tend to do too much "homework" and over analyze everything!
  • #7,342
  • Mar 13, 2012 7:52am Mar 13, 2012 7:52am
Hi all, nice to see this thread still going. I spent a bit of time lurking on the original "Dance" thread. I was wondering how alot of you that have spent a fair amount of time on this thread have fared with the 15 min TF. Most of the advice i seem to get is you get chopped up in the shorter TF's. Happy trading!
  • #7,343
  • Mar 13, 2012 9:56am Mar 13, 2012 9:56am
Man, I've came here from EO's thread, since i've felt i needed something simpler to understand, and CHOROS looked like a perfect fit, but man, I'm really struggling to "SEE" the setups, currently Im just spending some screentime on the ForexTester software but with ZERO success, seens like the moving averages don't get respected at all
Any tips and hints for a newbie??



best regards
  • #7,344
  • Mar 13, 2012 11:21am Mar 13, 2012 11:21am
Quoting ForexForce
Man, I've came here from EO's thread, since i've felt i needed something simpler to understand, and CHOROS looked like a perfect fit, but man, I'm really struggling to "SEE" the setups, currently Im just spending some screentime on the ForexTester software but with ZERO success, seens like the moving averages don't get respected at all
Any tips and hints for a newbie??
best regards
I dont know whether my advice can help but I find the sim useful only to the point of enabling me to recognize the setups that are unfolding in real time. I can't see much value with the sim when it comes to studying the market to learn how they move and to know what works and what don't.

To do that I use a spreadsheet and MT4 to write notes and backtest systematically. Treat it like some serious research. I mean think about it, we can only get out so much from the sim partly because we don't have time to write notes and gather our thought for each setups, hence we are not learning anything much with the sim. My 2 cents worth.
Riding the order flow
  • #7,345
  • Mar 13, 2012 11:25am Mar 13, 2012 11:25am
Quoting Brifx
Hi all, nice to see this thread still going. I spent a bit of time lurking on the original "Dance" thread. I was wondering how alot of you that have spent a fair amount of time on this thread have fared with the 15 min TF. Most of the advice i seem to get is you get chopped up in the shorter TF's. Happy trading!
I have been faring pretty well with the 15M 10 and H1 10. Thinking of it, those are probably 70% of my trades this year. But 15M 10 and H1 10 are just a part of my setup there are a bit more to consider before pulling the trigger.
Riding the order flow
  • #7,346
  • Mar 14, 2012 1:18pm Mar 14, 2012 1:18pm
Noob question, the 2bar rule is only valid for 10MA touch trades or also for the 35/50 MAs ???
  • #7,347
  • Mar 14, 2012 3:05pm Mar 14, 2012 3:05pm
Quoting ForexForce
Noob question, the 2bar rule is only valid for 10MA touch trades or also for the 35/50 MAs ???
35/50 also.

I took this trade on g/u. missed it by a little because i had my attention away from the charts for a while. 35SMA, 1.57RN

I took half of position off the table already. trailing the rest
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  • #7,348
  • Mar 14, 2012 5:38pm Mar 14, 2012 5:38pm
Quoting biDc
35/50 also.

I took this trade on g/u. missed it by a little because i had my attention away from the charts for a while. 35SMA, 1.57RN

I took half of position off the table already. trailing the rest
Careful there when the 35/50 lines are flat. The best trades are when 35/50 are angled and parallel. In any case, good call......
  • #7,349
  • Mar 14, 2012 8:33pm Mar 14, 2012 8:33pm
Quoting kostas1
Careful there when the 35/50 lines are flat. The best trades are when 35/50 are angled and parallel. In any case, good call......
Ah duely noted!

Here's another one. This time, its more angled :>

I actually had a trade from a higher price but I moved stop too tight and it was stopped out. This current trade that is on is actually an add on trade

M5 35/50 *almost dead end* shot past the MA a little
M15 10/35

Took half out here and will be trailing stop
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  • #7,350
  • Mar 15, 2012 7:41am Mar 15, 2012 7:41am
Quoting biDc
35/50 also.

I took this trade on g/u. missed it by a little because i had my attention away from the charts for a while. 35SMA, 1.57RN

I took half of position off the table already. trailing the rest
Thanks mate!
  • #7,351
  • Mar 15, 2012 8:05am Mar 15, 2012 8:05am
Thanks for the reply binyamin. i have just gotten back into trading and so far seem to be doing ok on the 15 min TF. Was just wondering how others have fared over the long term on this TF. cheers

Quoting Binyamin
I have been faring pretty well with the 15M 10 and H1 10. Thinking of it, those are probably 70% of my trades this year. But 15M 10 and H1 10 are just a part of my setup there are a bit more to consider before pulling the trigger.
  • #7,352
  • Edited 1:36pm Mar 15, 2012 1:01pm | Edited 1:36pm
Hello every one.

Is nice to see many dancers trading on LFT, I would like to do that but I canīt change my trading style to trade on LTF because I canīt be in front of the screen long enough to be able to trade like that. January was not a great month for me, but March is going very well with a little adjustment on my trading style, risking more percentage, targeting little pips and moving to BE+1 ASAP.

Take a look at the attached H1 Chart, this was a really nice CHOROS Setup that ended as BE+1. It was an H1 10ema trade. H4 and D1 were in UP trend; there was also confluence with Daly R1. M15 35/50 were also in a clear UP trend. As you can see, the entry point was at the H1 10ema “projection”. I moved to BE+1 when I was +6 pips in profit before price retraced, so it wasnīt bad, but why this CHOROS setup didn’t give more pips?

The answer is in a bigger picture. Take a look at the attached H4 Chart. You can see that price has reached a Supply Area, and you can also see that price reacted in a D1 PPA in confluence with RN at 88.

Supply Areas and Strong D1 PPAs like this ones can change the current trend, or at least make the price retrace a lot, so that is why this setup gave less than 10 pips. But the truth is that CHOROS setups works, it even worked on this situation for at least 6 pips.

Iīm still trading H1 10ema and H4 10ema setups with decent success but as I said I made some adjustments on my lot size and targets, lately Iīm targeting 10 pips only per trade and moving to BE+1 when Iīm at 6 pips in profit.

I made 4 trades today, all of them ended at BE+1 and where very similar to the one Iīm showing here, I made only 4 pips today for almost 0.8% account growth (Could have been 24 pips closing at +6). CHOROS works very well on any pair, I feel that targeting little on every trade is the way to go these days.

Happy trading
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  • #7,353
  • Mar 15, 2012 2:16pm Mar 15, 2012 2:16pm
Quoting Haydel
Hello every one.

Is nice to see many dancers trading on LFT, I would like to do that but I canīt change my trading style to trade on LTF because I canīt be in front of the screen long enough to be able to trade like that. January was not a great month for me, but March is going very well with a little adjustment on my trading style, risking more percentage, targeting little pips and moving to BE+1 ASAP.

Take a look at the attached H1 Chart, this was a really nice CHOROS Setup that ended as BE+1. It was an H1 10ema trade. H4 and D1 were in UP...
Nice Haydel,

I've been doing this a lot lately also, scalping the HTF setups.
Swedish steel!
  • #7,354
  • Edited 8:54am Mar 16, 2012 6:41am | Edited 8:54am
Hi guys! I collected all Kostas posts with pictures in word document! Here is it! I think it will be very useful for us!! Happy learning and trading!

http://depositfiles.com/files/5t0jpdlmx DOC
http://depositfiles.com/files/e8nh6qjv2 PDF
  • #7,355
  • Mar 16, 2012 10:21am Mar 16, 2012 10:21am
Quoting makron
Hi guys! I collected all Kostas posts with pictures in word document! Here is it! I think it will be very useful for us!! Happy learning and trading!

http://depositfiles.com/files/5t0jpdlmx DOC
http://depositfiles.com/files/e8nh6qjv2 PDF
Thanks for completing this work my friend. I can actually use this myself.....
  • #7,356
  • Mar 16, 2012 10:30am Mar 16, 2012 10:30am
Quoting kostas1
Thanks for completing this work my friend. I can actually use this myself.....
Hello Dancers,

For a couple of months, i've been reading the original Dance thread - thx Clay et all so far! Almost there, with some simulator et all.

CHOROS for what i've seen the continuation of The Dance, with some general adaptations, mainly because of market conditions (?), but didn't managed to start reading it yet.

duffypratt's table of contents given by kostas on main post and this makron's collection is certainly a powerfull complement to the info - it may be needed a shortcut to avoid reading 491 thread pages (7355 posts...)

We'll be seing more often is the next weeks

Regards
Diogo
  • #7,357
  • Mar 16, 2012 1:14pm Mar 16, 2012 1:14pm
[quote=Binyamin;5445688]As for myself, last year since late September I have been consistently profitable every week with HTF setups thanks to Haydel. This year the same HTF setup are a disaster.(after 4 straight losses in a row) So I switched to trading the M5 and M1 charts and I have been consistent with making pips every week (though not every day but most days) since the last week of january till now thanks to Kostas.

Binyamin could you please explain the set ups you are using for the M5 & M1 charts? Are they exactly the Dance set ups or have you made any adjustments??
Also how many hours per day do you trade these charts??
I am asking because I can't trade more than 3-4 hours every day and M5-M1 seem to give more opportunities to someone like me (you get to see more candles in a short period of time)
thank you
  • #7,358
  • Mar 16, 2012 2:18pm Mar 16, 2012 2:18pm
makron you are the best.

You did your homework that is way you are profitable

And you just saved me a lot of time and work

Many pips to you
  • #7,359
  • Mar 17, 2012 6:08am Mar 17, 2012 6:08am
Thank you Makron
  • #7,360
  • Mar 17, 2012 10:17am Mar 17, 2012 10:17am
Thanks mackron. Great effort.
Riding the order flow
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