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CHOROS System

  • #13,221
  • Edited 12:25pm Jul 24, 2017 12:07pm | Edited 12:25pm
Quoting ejiexe
First timer on this thread. Is this a 10ema setup few minutes after london open? {image}
While it is a setup, as a new dancer I've learned to avoid trading the HTF MAs because they tend to be areas of consolidation and I haven't learned how to read the chop. For example, on my chart the entry candlestick looks like a Wick Off as it closes very close to the H1 35-SMA. The candles immediately before the entry look like a false breakout. On the hourly chart the two touch bar "signal" is two candles later (per manual, only touch trades should be taken off of the HTFs). Nonetheless, if you can consistently profit of these moves then anything else is moot
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Edit: Clarified what I meant by the hourly chart signal.
  • #13,222
  • Jul 24, 2017 1:15pm Jul 24, 2017 1:15pm
Quoting kostas1
{quote} 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.

Kostas.

Do you still target 30-40 pips per day ? What's your percentage average of hitting this target daily? Or has your approach changed over the years in terms of pip targets?

Really happy for your success.
  • #13,223
  • Jul 24, 2017 3:23pm Jul 24, 2017 3:23pm
Quoting birdland
{quote} imo yes, i missed it...
Looking at all your recent post, you always nail 10ema trade perfectly.
Do trade only 10ema only these days?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,224
  • Jul 24, 2017 3:40pm Jul 24, 2017 3:40pm
Quoting Tremulous
{quote} While it is a setup, as a new dancer I've learned to avoid trading the HTF MAs because they tend to be areas of consolidation and I haven't learned how to read the chop. For example, on my chart the entry candlestick looks like a Wick Off as it closes very close to the H1 35-SMA. The candles immediately before the entry look like a false breakout. On the hourly chart the two touch bar "signal" is two candles later (per manual, only touch trades should be taken off of the HTFs). Nonetheless, if you can consistently profit of these moves then...
Let me just tell you the reason I entered the trade if I will be able to clarify your question.
If you look at the 1hr candle, it closed below 35 and between 35 and 50 by London open. There is chance that 50 ema can be touched and usually we are told to look for setup from london opening. There was a pull back touch of 10ema on 1hr and at the same time price touched 10ema on 15 following 2 bar rules. That is when i pull the trigger.
I may be wrong. So let wait for experience Dancer to put more light to it
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,225
  • Jul 24, 2017 3:57pm Jul 24, 2017 3:57pm
Quoting ejiexe
{quote} Let me just tell you the reason I entered the trade if I will be able to clarify your question. If you look at the 1hr candle, it closed below 35 and between 35 and 50 by London open. There is chance that 50 ema can be touched and usually we are told to look for setup from london opening. There was a pull back touch of 10ema on 1hr and at the same time price touched 10ema on 15 following 2 bar rules. That is when i pull the trigger. I may be wrong. So let wait for experience Dancer to put more light to it

Hi.. and welcome to this wonderful thread.

.. Your entry was nice .. but only 99%by the rules.....why ?
-Fofo..
Frankfurt open Fake out ..

When the weakest session (Asian session) overlaps to the european open we re getting a lot of "new" money to the markets.
Can be tricky and leads sometimes to a taken SL.

Its up to you to surf the wave or wait a "coffee" longer and get more safe in the market.

Stay tuned and enjoy this system.
Guido
Risiko birgt immer auch die Chance.
  • #13,226
  • Jul 24, 2017 4:13pm Jul 24, 2017 4:13pm
Quoting Sesamstrasse
{quote} Hi.. and welcome to this wonderful thread. .. Your entry was nice .. but not 100% by rules.. why ? Fofo.. Frankfurt open Fake out .. When the weakest session (Asian session) overlaps to the european open we re getting a lot of "new" money to the markets. Can be tricky and leads sometimes to a taken SL. Its up to you to surf the wave or wait a "coffee" longer and get more safe in the market. Stay tuned and enjoy this system. Guido
Thank you for the comment.
Can you please expatiate on not 100% by rules. London opened before I entered the market and at least one session is open for the currency Traded.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,227
  • Jul 24, 2017 4:51pm Jul 24, 2017 4:51pm
Quoting ejiexe
{quote} Thank you for the comment. Can you please expatiate on not 100% by rules. London opened before I entered the market and at least one session is open for the currency Traded.

Sure
higher tf didn t confirm, fofo and 35 was above the 50 ema.. for a short.

Kostas corrected me years ago ... 10, 35, 50 for long... and vice versa..

Guido
Risiko birgt immer auch die Chance.
  • #13,228
  • Jul 24, 2017 10:07pm Jul 24, 2017 10:07pm
USDCAD = 5.8 pips

Today felt like a slow day of trading. I personally wasn't finding many good entries and the ones I did see had passed while I was away from my desk. Initial two bar touch trade could had netted ~32 pips, but I missed it and there was an intense 24 pip price rejection near a pivot point. With that in mind I expected there to be another retest. I entered on a weaker two-touch bar signal. While I was right about the retest, I was wrong about the strength of the retest. I was looking for 15 pips, but the candle only hit 13 pips and I decided to exit as price was retracing against me. Had I been patient I could have netted twice as many pips, but I also could have been stopped out at breakeven. I was playing with fire and decided to take what profit I had at the moment instead of risking it all.
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  • #13,229
  • Jul 25, 2017 1:28am Jul 25, 2017 1:28am
Quoting Sesamstrasse
{quote} Sure higher tf didn t confirm, fofo and 35 was above the 50 ema.. for a short. Kostas corrected me years ago ... 10, 35, 50 for long... and vice versa.. Guido
What is fofo? I don't seems to have come across that.
thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,230
  • Jul 25, 2017 1:35am Jul 25, 2017 1:35am
USDCAD = 8.7 pips
GBPUSD = 8.3 pips
TOTAL = 17 pips

Two quick two bar touch trades before the London open. GBPUSD didn't have a strong MA angle, but I accepted the risk due to the HTF trends. I'm always trying to get the quick 15 pips, but I may need to settle for 10-12 pips as I haven't successfully caught 15 pips on a quick move. For example USDCAD with my near perfect entry only moved a total of 14.8 pips before the candle closed. The message I'm getting is greed is costing me profits...


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  • #13,231
  • Jul 25, 2017 1:44am Jul 25, 2017 1:44am
Quoting ejiexe
{quote} Looking at all your recent post, you always nail 10ema trade perfectly. Do trade only 10ema only these days?
no, not only but they came along and when i hit 20 pips or more for the day i stop tading. so first (signal) come, first serve...
trading is like dancing, don't think and just listen to the music!
  • #13,232
  • Jul 25, 2017 1:53am Jul 25, 2017 1:53am
Quoting birdland
{quote} no, not only but they came along and when i hit 20 pips or more for the day i stop tading. so first (signal) come, first serve...
Thanks

Is this also according to the rule?
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,233
  • Jul 25, 2017 1:55am Jul 25, 2017 1:55am
Quoting Sesamstrasse
{quote} Sure higher tf didn t confirm, fofo and 35 was above the 50 ema.. for a short. Kostas corrected me years ago ... 10, 35, 50 for long... and vice versa.. Guido
i agree with the HTF that this should be in line with the M15 trend. should...because when i see a perfect 10EMA touch and no other pair around is attractive i take also sometimes against the HTF trend.

the other thing with the correct MAs in line 10, 35, 50 i found out that more often when a 10EMA touch signal comes the MAs are 10, 50, 35. but its just my observation.

and ejiexe: FF means "frankfurt fucking", you have one hour before london opening the frankfurt opening which often shows a direction with suddenly wild breaks into the london opening. after london open the "dust has gone".
trading is like dancing, don't think and just listen to the music!
  • #13,234
  • Jul 25, 2017 1:58am Jul 25, 2017 1:58am
Quoting ejiexe
{quote} Thanks Is this also according to the rule? {image}
important is that you have to find your own rules...

i would not take the trade because its before london open. and also the HTF is more long...
trading is like dancing, don't think and just listen to the music!
  • #13,235
  • Jul 25, 2017 2:19am Jul 25, 2017 2:19am
Quoting birdland
{quote} i agree with the HTF that this should be in line with the M15 trend. should...because when i see a perfect 10EMA touch and no other pair around is attractive i take also sometimes against the HTF trend. the other thing with the correct MAs in line 10, 35, 50 i found out that more often when a 10EMA touch signal comes the MAs are 10, 50, 35. but its just my observation. and ejiexe: FF means "frankfurt fucking", you have one hour before london opening the frankfurt opening which often shows a direction with suddenly wild breaks into the london...

Yes, totally agreed.. finally it counts only red or green pippin.
PA is king and if the market drops the price downwards just follow .....
... haven t seen the question on the withdrawl form : " did you enter 100% by the rules, was the 35 Sma above or below the 50 Ema"

Very often the m5 or m15 shows a valid entry that plays out for a good amount.

Finally everybody must make the system work for himself...
Dancing is one of the most discretionary systems I Žve ever seen.

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #13,236
  • Jul 25, 2017 2:20am Jul 25, 2017 2:20am
Quoting birdland
{quote} important is that you have to find your own rules... i would not take the trade because its before london open. and also the HTF is more long...
Noted thanks. meanwhile which tf do u consider HTF. Do you look up till monthly chart?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,237
  • Jul 25, 2017 2:21am Jul 25, 2017 2:21am
Quoting ejiexe
{quote} What is fofo? I don't seems to have come across that. thanks
Good morning.

As I said.. Frankfurt.open.Fake.out

YouŽll find really everything explained in this thread..

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #13,238
  • Jul 25, 2017 2:45am Jul 25, 2017 2:45am
Quoting ejiexe
{quote} Noted thanks. meanwhile which tf do u consider HTF. Do you look up till monthly chart?
HTF are H1, H4, daily, weekly, monthly. i consider them ALL.
you need a lot of screentime to get a feeling for what to look. there are no fix rules, its more an art.
trading is like dancing, don't think and just listen to the music!
  • #13,239
  • Jul 25, 2017 2:47am Jul 25, 2017 2:47am
Quoting Sesamstrasse
{quote} Dancing is one of the most discretionary systems I ve ever seen. Stay tuned Guido
this is also what i like most. you will never find a dancing-EA.
trading is like dancing, don't think and just listen to the music!
  • #13,240
  • Jul 25, 2017 2:53am Jul 25, 2017 2:53am
Quoting birdland
{quote} this is also what i like most. you will never find a dancing-EA.
I did find one when I searched for your term "dancing-EA" in Google images.....
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