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CHOROS System

  • #13,201
  • Jul 18, 2017 1:05pm Jul 18, 2017 1:05pm
Quoting Sesamstrasse
Its always nice to see wonderful trades ending up hitting target.. Sry to disappoint you... ... and a bad one... With really large lots for my account size. ..I missed the round number in my way and didn t have enough balls to keep the sl.. Stay tuned Guido {image}
I thought it was kind of strange that price was disrespecting the 15 minute moving averages. I wanted to get a closer look so I pulled up your chart on my computer and my impression is because the 1 hour chart had dominance. I don't have enough experience to know why, but my best guess would be it was because of the recent change of trend.

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  • #13,202
  • Jul 18, 2017 2:26pm Jul 18, 2017 2:26pm
Quoting BermeoFX
Hi, some trades from today. For now I am in profit, not bad. Maybe too much trades, I thinK I have to be more selective. Mainly good entries but bad exits, letf a lot on the table. Get a little bit nervous when price don't reject fast from MAs. I have share a Choros explorer, I hope this make me trade better. Any feedback are welcome. E/J M15 35/50 + H1 10 + WP + S/R {image} U/J M15 35/50 + H1 10 + D S1 + S/R {image} U/C M15 35/50 + H1 10 + WP + S/R ( Now I see one was a second touch ) {image}
Hi Bermeo.

The explorer points in the right direction..

Congrats for the first steps.. looks promising..

The first UCAD and the first UJ trade.. :
Id try to keep them longer (as long as they move in the right direction).

For these slow pairs a tp around 10 pips in a m15 chart isnīt that bad.

Stay green
Guido
Risiko birgt immer auch die Chance.
  • #13,203
  • Jul 18, 2017 3:18pm Jul 18, 2017 3:18pm
Quoting kostas1
I very rarely trade this pair, but it was a classic M15 10 bounce and my other pairs looked tricky. It was good for 12p. {image}
Hi Kostas. Is the trade you posted above really a classic 10 bounce? It doesn't obey the two-bar rule. Have you dropped the two-bar rule in 10 trades?
Also, do you still trigger your trades with PA from the 5min chart?
I exclusively trade Choros, but a little confused as to the definition of a classic 10 DANCE trade, which i think the below trade(arrow) is...thanks
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  • #13,204
  • Jul 18, 2017 3:38pm Jul 18, 2017 3:38pm
Quoting Wahnone
{quote} Hi Kostas. Is the trade you posted above really a classic 10 bounce? It doesn't obey the two-bar rule. Have you dropped the two-bar rule in 10 trades? Also, do you still trigger your trades with PA from the 5min chart? I exclusively trade Choros, but a little confused as to the definition of a classic 10 DANCE trade, which i think the below trade(arrow) is...thanks {image}
You are correct, NOT classic by the Dance method. Nevertheless, trades like this are classic for me and I usually take them. I usually pay attention to the two-bar rule but if it looks that it may bounce in 3 or 4 bars I may take them. More than 4-5 bars better to wait for the 35/50.
  • #13,205
  • Jul 18, 2017 3:46pm Jul 18, 2017 3:46pm
Quoting BermeoFX
Hi, some trades from today. For now I am in profit, not bad. Maybe too much trades, I thinK I have to be more selective. Mainly good entries but bad exits, letf a lot on the table. Get a little bit nervous when price don't reject fast from MAs. I have share a Choros explorer, I hope this make me trade better. Any feedback are welcome. E/J M15 35/50 + H1 10 + WP + S/R {image} U/J M15 35/50 + H1 10 + D S1 + S/R {image} U/C M15 35/50 + H1 10 + WP + S/R ( Now I see one was a second touch ) {image}
Hola
Hope your Choros explorer will start to look like
  • #13,206
  • Jul 19, 2017 3:15pm Jul 19, 2017 3:15pm
The Dance gives us the tools necessary to trade profitably, but sometimes human nature takes over and we mess up. Here is an absolutely beautiful trade I missed out on because I panicked, closed my position prematurely, and stopped analyzing the charts. I entered after observing price was semi-constrained by the SMA-35 and that the daily pivot line was being respected. My entry wasn't perfect, but it was alright. Had I closed my charts and let the trade work itself out I would have won. However, fear grabbed me two bars later when we briefly fell below the 35-SMA. With a fear clouded mind, I wasn't analyzing the charts properly. There were still opportunities to enter after I had exited the trade. In hindsight, I exited on a two bar touch trade...which is a valid Dance signal. I also overlooked a constrainment signal immediately after the two bar touch signal. Hope you guys had better trades.
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  • #13,207
  • Jul 20, 2017 3:23am Jul 20, 2017 3:23am
EURUSD = +15.4 pips

The markets have been lacking a clear direction today and I wasn't sure when or where to enter. I want to scalp, so I can trade anytime during the day but I haven't developed the skills for it yet. Following the rules, I waited for the 35/50 MAs to tell me which direction to trade. I proceeded to enter a semi-touch trade off the 50-EMA. While this isn't a strictly a Dance trade, I entered the trade because I saw a confluence of resistance that would help push price down. Within that area was the 1 hour 50-EMA, the 15 minute 35/50 MAs, the 1.15200 round number and a pivot point. The higher time frame charts also indicated a downward trend, so I decided to take the risk. The price I paid was a 7 pip drawdown. My stop loss was at 11.5 pips or just above the 1 hour 35-SMA. My exit was at the next pivot, which I find is a good place to take profits.

* In regards to my chart setup, I've changed the round numbers and pivot lines to a gray color because I was getting distracted by them. They serve as confluence and not trade signals. I've also removed my 5 pip keltner channel because while it is useful for knowing when the markets are ranging or in consolidation, it was producing false signals. In my mind type 2 errors (failure to detect signals) are better than type 1 errors (false signals) because I need to trust that the trading strategy will do right by me.

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  • #13,208
  • Jul 20, 2017 3:42am Jul 20, 2017 3:42am
In my opinion you were just lucky.

1) The 35 and 50 moving averages were flat.

2) 1.1520 is not a round number.

3) You traded just before London open.

It could go either way.
  • #13,209
  • Edited 5:21am Jul 20, 2017 4:55am | Edited 5:21am
Quoting FrankBlack
In my opinion you were just lucky. 1) The 35 and 50 moving averages were flat. 2) 1.1520 is not a round number. 3) You traded just before London open. It could go either way.
Thanks for your input. I'm still relatively new to the system and I did admit that it wasn't a pure-Dance trade. Nonetheless, I felt the probabilities were in my favor (hindsight eh?)

1) The 15 minute moving averages (MAs) were flat. However, the hour MAs had diverged and were in the process of converging. When the 15 minute MAs are near the hour moving averages, I defer to the higher timeframe's MAs. For basically the entire previous day I avoided trading because the MAs were far apart and I saw an opportunity when they had been converging consistently for the past 10 hours. Approximately an hour before my trade, the 15 minute MAs had fallen below the hour MAs.

2) Am I plotting my round numbers wrong? I trade on a 5 digit broker and have my numbers plotted every 10 pips.*

3) it would seem that if I had traded at the London open, I would have had almost 0 draw down instead of a 7 pip draw down.

* EDIT: If it is supposed to be every 50 pips, you'll understand my confusion because price finds support at 10 pips as well (see graphic)
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  • #13,210
  • Jul 20, 2017 5:42am Jul 20, 2017 5:42am
Quoting Tremulous
{quote} Thanks for your input. I'm still relatively new to the system and I did admit that it wasn't a pure-Dance trade. Nonetheless, I felt the probabilities were in my favor (hindsight eh?) 1) The 15 minute moving averages (MAs) were flat. However, the hour MAs had diverged and were in the process of converging. When the 15 minute MAs are near the hour moving averages, I defer to the higher timeframe's MAs. For basically the entire previous day I avoided trading because the MAs were far apart and I saw an opportunity when they had been converging...
RN every 50 pips.
  • #13,211
  • Jul 20, 2017 11:17am Jul 20, 2017 11:17am
Quoting Tremulous
{quote} Thanks for your input. I'm still relatively new to the system and I did admit that it wasn't a pure-Dance trade. Nonetheless, I felt the probabilities were in my favor (hindsight eh?) 1) The 15 minute moving averages (MAs) were flat. However, the hour MAs had diverged and were in the process of converging. When the 15 minute MAs are near the hour moving averages, I defer to the higher timeframe's MAs. For basically the entire previous day I avoided trading because the MAs were far apart and I saw an opportunity when they had been converging...
you are right that 10 pips is a S&R, but RN like 50 and 100 are stronger S&R we follow here.
if you want to learn something about 10pips S&R try these threads:
https://www.forexfactory.com/showthr...1#post10105811
https://www.forexfactory.com/showthread.php?t=487923
and google also after "TRO forex"
trading is like dancing, don't think and just listen to the music!
  • #13,212
  • Edited 1:30pm Jul 20, 2017 12:52pm | Edited 1:30pm
I want to learning this system where I should start. from page 1 of "The dance"?

Sorry if question like this now allow on here.
  • #13,213
  • Jul 20, 2017 3:29pm Jul 20, 2017 3:29pm
Quoting kaimot
I want to learning this system where I should start. from page 1 of "The dance"? Sorry if question like this now allow on here.
Yep page 1 is the best place to start.
  • #13,214
  • Jul 21, 2017 3:21am Jul 21, 2017 3:21am
Quoting kaimot
I want to learning this system where I should start. from page 1 of "The dance"? Sorry if question like this now allow on here.
page 1, and clays pdf
trading is like dancing, don't think and just listen to the music!
  • #13,215
  • Jul 21, 2017 5:41am Jul 21, 2017 5:41am
this weeks trade:
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trading is like dancing, don't think and just listen to the music!
  • #13,216
  • Jul 21, 2017 6:19am Jul 21, 2017 6:19am
Quoting birdland
this weeks trade: {image} {image} {image} {image} {image}
It seems you got the EMA10 trade down to a science, my friend....
  • #13,217
  • Jul 21, 2017 7:47am Jul 21, 2017 7:47am
Quoting kostas1
{quote} It seems you got the EMA10 trade down to a science, my friend....
yes thx
rinse and repeat is my motto...and finally the last trade for the week:
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trading is like dancing, don't think and just listen to the music!
  • #13,218
  • Edited 8:24am Jul 21, 2017 7:53am | Edited 8:24am
for the novice traders here i want to give you a hint.
when i started trading choros-style years ago i took also trades BEFORE london open.
these cost me a lot of money and time. then and because i switched to other "systems".

so better take only trades AFTER london open, better 15 minutes after. there are enough opportunities...i handle LO like a red news event;-)
trading is like dancing, don't think and just listen to the music!
  • #13,219
  • Jul 24, 2017 3:44am Jul 24, 2017 3:44am
First timer on this thread. Is this a 10ema setup few minutes after london open?
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,220
  • Jul 24, 2017 10:35am Jul 24, 2017 10:35am
Quoting ejiexe
First timer on this thread. Is this a 10ema setup few minutes after london open? {image}
imo yes, i missed it...
trading is like dancing, don't think and just listen to the music!
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