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CHOROS System

  • #11,841
  • Apr 28, 2015 10:43am Apr 28, 2015 10:43am
Quoting Sagramor
EU M1 trade, constrainment above M1 50EMA, steep MAs all timeframes... -10 pips (then it turned around right after! -- classic) I was in the same move on GU at the same time and made the same loss... I think these are just normal Choros losses -- anyone see reasons i should have stayed out? Thanks! {image}
If you look on both EU, GU it was a normal (successful) 2nd bounce from M15 EMA 10. On strong trends the 2nd bounce is fine but the best trade is the first M15 EMA 10 bounce. After that I look for a possible M15 35/50 bounce :nerd:
If you are a new trader, I would recommend using the classic M15 trading and later you could try the M5. Personally, I find the M1 stressful and not very reliable. I use it only to fine tune entry&exit but my signals come from either M5 or M15.
  • #11,842
  • Apr 28, 2015 10:54am Apr 28, 2015 10:54am
Quoting kostas1
{quote} If you look on both EU, GU it was a normal (successful) 2nd bounce from M15 EMA 10. On strong trends the 2nd bounce is fine but the best trade is the first M15 EMA 10 bounce. After that I look for a possible M15 35/50 bounce :nerd: If you are a new trader, I would recommend using the classic M15 trading and later you could try the M5. Personally, I find the M1 stressful and not very reliable. I use it only to fine tune entry&exit but my signals come from either M5 or M15.
Thanks kostas!

I'm not an entirely new trader, been at it a couple years... I've been following Choros since about July last year and have been testing it on and off. I've been experimenting for most of that time with my own strategy (countertrend style on M1/M5) with decent success. Unfortunately, I couldn't quite fine tune the system enough to be as consistent as I would like and I'm back at Choros since I've had decent success everytime I've used it.

I have a decent feel for PA on M1 and M5, but I agree that they can be misleading, frustrating, and disheartening.

The only issue I often have had with M15 is I can wait all week looking for a setup and then miss it. Seems like the nice first touches often happen during the European session, and I am on US mountain time, so I can only really trade the first couple hours of the US open.

I'll keep at it and thanks for the input.
Remember that guy who gave up? Neither does anyone else.
  • #11,843
  • Apr 28, 2015 10:57am Apr 28, 2015 10:57am
Quoting kostas1
{quote} If you look on both EU, GU it was a normal (successful) 2nd bounce from M15 EMA 10. On strong trends the 2nd bounce is fine but the best trade is the first M15 EMA 10 bounce. After that I look for a possible M15 35/50 bounce :nerd: If you are a new trader, I would recommend using the classic M15 trading and later you could try the M5. Personally, I find the M1 stressful and not very reliable. I use it only to fine tune entry&exit but my signals come from either M5 or M15.

Also, I wanted to say thanks for this great thread (and for keeping alive an old one) -- there is a WEALTH of awesome information here and it seems to have helped a countless number of people!
Remember that guy who gave up? Neither does anyone else.
  • #11,844
  • Apr 28, 2015 11:04am Apr 28, 2015 11:04am
Quoting Sagramor
{quote} Also, I wanted to say thanks for this great thread (and for keeping alive an old one) -- there is a WEALTH of awesome information here and it seems to have helped a countless number of people!
You're welcome.

Since you have experience like that you may want to try the M5 12 or 23 bounces for more action and just keep an eye on M1 for getting a better feel.
  • #11,845
  • Apr 28, 2015 11:19am Apr 28, 2015 11:19am
Quoting kostas1
{quote} You're welcome. Since you have experience like that you may want to try the M5 12 or 23 bounces for more action and just keep an eye on M1 for getting a better feel.
Great advice - I'll have a look at that!

When I get where I want to be with my trading, I'd like to take a trip to Europe to buy you a beer... and Guido if he's reading this!
Remember that guy who gave up? Neither does anyone else.
  • #11,846
  • Edited Apr 29, 2015 2:49am Apr 28, 2015 11:42am | Edited Apr 29, 2015 2:49am
Quoting Sagramor
{quote} Great advice - I'll have a look at that! When I get where I want to be with my trading, I'd like to take a trip to Europe to buy you a beer... and Guido if he's reading this!
Hey buddy ,if you come the long way to Europe .......
.................Ill pay the beer .
Guido

Quoting Sagramor
EU M1 trade, constrainment above M1 50EMA, steep MAs all timeframes... -10 pips (then it turned around right after! -- classic) I was in the same move on GU at the same time and made the same loss... I think these are just normal Choros losses -- anyone see reasons i should have stayed out? Thanks! {image}
EU M1
I was exactly in the same trade should be a counce trade , just cutted it a little earlier .
Sometimes it just don t work .
And specially the M1 is very hard , sometimes it makes a bunch of profits , sometimes its killing !
I stop after 3 red trades in a row for the day .
Not every day is a trading day for me !!
Guido
Attached Image (click to enlarge)
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Risiko birgt immer auch die Chance.
  • #11,847
  • Apr 29, 2015 7:40am Apr 29, 2015 7:40am
My entry was at M15 10EMA but this one was a perfect M15 35/50.
Any way, it gave me 30 pips
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  • #11,848
  • Apr 29, 2015 10:10am Apr 29, 2015 10:10am
Quoting Sesamstrasse
{quote} Hey buddy ,if you come the long way to Europe ....... .................Ill pay the beer . Guido {quote} EU M1 I was exactly in the same trade should be a counce trade , just cutted it a little earlier . Sometimes it just don t work . And specially the M1 is very hard , sometimes it makes a bunch of profits , sometimes its killing ! I stop after 3 red trades in a row for the day . Not every day is a trading day for me !! Guido {image}
Sounds great and nice to know you were in that one Guido -- I was trying to go off your advice for M1 movement.

also, nice grab Haydel! 30 pips is great!

now for my day today... all on EU -- 2 losses 10 pips each, a 20 pip grab back and then this final trade for the day for 25 pips: M1 constrainment above EMA50, M5 EMA12. Bit risky as its a bit over extended for the day, but there have been some huge mid-week EU moves during US open lately. Total +25 pips and I'm done! no need to spoil a good feeling.

I moved to BE fast and let it ride a bit... it was really moving today!
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Remember that guy who gave up? Neither does anyone else.
  • #11,849
  • Apr 30, 2015 11:18am Apr 30, 2015 11:18am
Hi o/

I'm new here.

That is a good setup ?

Ty
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  • #11,850
  • Edited 1:11pm Apr 30, 2015 12:47pm | Edited 1:11pm
Quoting imperatorfr
Hi o/ I'm new here. That is a good setup ? Ty {image}
Welcome here !
No reason : 5th , 6..7th touch is too risky.. look for first touches if you nwant stable profits .
Have a nice weekend .
Guido
Risiko birgt immer auch die Chance.
  • #11,851
  • Edited 4:20pm Apr 30, 2015 1:47pm | Edited 4:20pm
Quoting Sesamstrasse
{quote} Welcome here ! No reason : 5th , 6..7th touch is too risky.. look for first touches if you want stable profits . Have a nice weekend . Guido
Thanks you for your feedback.
I work the pdf for next weak

bye++

EDIT : http://www.forexfactory.com/showthre...63#post4191963
Ok, I realized my mistake, just first bounce is good.
  • #11,852
  • May 10, 2015 7:48am May 10, 2015 7:48am
When I did my weekly performance analysis today I found something interesting that I wanted to share, since I think many experience the same thing.

The picture below shows the balance of one of my trading accounts for a certain period of time. This is the standard Metatrader report, the x-axis shows the trades, not days. There are many things one can learn from this chart, here I would like to focus on one:

The interesting thing is that my performance shows three clear phases, which I have labelled A - C.

Phase A: I did not really know how to trade in this period. The account balance shows a clear downtrend, the vertical lines are mostly not successful trades but me adding more money to the account. Whenever I traded, I lost money on average.

Phase B: I started trading Choros and slowly got a feeling for this kind of trading. From this time on, the account balance is rising in principle for many trades in a row, but I messed up repeatedly and got my account into deep drawdowns quickly, after which I added more money to the account (vertical lines). This phase can be summarized as "I knew how to trade in principle, but I had mental shortcomings like problems with discipline or my system still had a flaw".

I realized what was happening and worked hard to eliminate it, which brought me to

Phase C: Rising balance, making money from trading, being profitable. Once I had eliminated the problem from phase B, my trading improved greatly, and so did my account balance. There were still three times when I reverted to my old habits, but I was able to trade my way out of the drawdown without having to add money to the account. You can see from the slope of the lines after drawdown that this was done with a high-risk style of trading - still not the best way possible.

Whether you are profitable or not, I think analyzing your account history is the most important thing you can do in order to increase your trading performance! This is true for all trading systems of course, I am just sharing this here because I became profitable using Choros and adapting / customizing it.

What I wrote above - indentifying your shortcomings and eliminating them - sounds very simple when written in just a few lines. In reality, it was a rather long, sometimes painful and demotivating process for me. In the end it was worth it, but I also know in hindsight that I could have gotten to where I am now - profitable trading - much easier. I hope this post can help some of you to get there quicker than I did.

Thank you Kostas for all your work and efforts to help others with this thread, I know it has helped me greatly!
Attached Image (click to enlarge)
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  • #11,853
  • May 14, 2015 6:05pm May 14, 2015 6:05pm
great article that guy
  • #11,854
  • May 15, 2015 1:08am May 15, 2015 1:08am
Long time wach this thread, and i think its nice thread. But i cant make profitable trade and don't understand why( Its great when someone have succes!
  • #11,855
  • May 15, 2015 2:05am May 15, 2015 2:05am
Hi guys one more time! I want to ask you if second touch of 35-50 ema are good for trading?
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  • #11,856
  • May 15, 2015 2:08am May 15, 2015 2:08am
Quoting maxtill
Hi guys one more time! I want to ask you if second touch of 35-50 ema are good for trading? {image}

Your chart shows not a " clear " picture.
Its a flat trend , seperated MAs = better stay out and wait for a good setup.
Patience is what makes it work and youll get some nice entries for sure .
Guido
Risiko birgt immer auch die Chance.
  • #11,857
  • May 15, 2015 2:31am May 15, 2015 2:31am
Ok i understand and thx,i will wait the trend! but my question was if we have second consecutive touch of 30-50 ema-s we open trade or not!?
  • #11,858
  • Edited 2:59am May 15, 2015 2:45am | Edited 2:59am
Quoting maxtill
Ok i understand and thx,i will wait the trend! but my question was if we have second consecutive touch of 30-50 ema-s we open trade or not!?
Hey Maxtill , welcome here.
We use 10 ema 35Sma 50 ema .

The first touches are the most safest touches!
second ,third,.. eleventh .. I don t care .

But its not new what you asked , its all in this thread , last time answered by Kostas only 2 weeks ago .
http://www.forexfactory.com/showthre...70#post8232770



The only way to make stable profits is to take good trades ( of course , everybody knows ) .
the good trades are the results from :
1: good entries
2: good exits
.....................if one of these 2 points is violated , it wont work and you have to pay for it with red pips .
Guido
Risiko birgt immer auch die Chance.
  • #11,859
  • May 15, 2015 4:52am May 15, 2015 4:52am
One more question, the following signals are also considered first or second?
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  • #11,860
  • Edited 6:33am May 15, 2015 6:15am | Edited 6:33am
Quoting maxtill
One more question, the following signals are also considered first or second? {image}
As first , your chart isn t nice !


Reason :

The MAs are toooooooo seperated , speciallya 35sma 50 ema! and 10 Ema too tight , you ll find better , clear entries easy every day!!!



First 1/arrow is in a sideways of the candles,
second 1/arrow shows not a signal in a clear trend , the mas are not steep enough for my taste
third 1/arrow is one candle too late, it should be exactly at the touch 50 BUT I HADN T TAKEN IT !!!
that are nice ones:
http://www.forexfactory.com/showthre...87#post7482787
http://www.forexfactory.com/showthre...86#post7473686
http://www.forexfactory.com/showthre...85#post7465785
Please read the original thread , Eclayf explains it best !
http://www.forexfactory.com/showthread.php?t=224697
He is the developer of this strategy and he did a great work , I really can t explain it better .
The only difference is: we kicked the 5 Ema out of the template there were too many bad signals .
Thats it !
Guido
Risiko birgt immer auch die Chance.
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