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CHOROS System

  • #13,241
  • Jul 25, 2017 6:26am Jul 25, 2017 6:26am
One touch trade for now today. I didn't like the candle close against me and managed to exit at BE.

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I have been waiting for 10 EMa touch on E/J but finally I didn't take it .

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  • #13,242
  • Jul 25, 2017 8:06am Jul 25, 2017 8:06am
Heres a very nasty pair.

I toy it since 3 weeks down with a TMS Daily strategy and it made a good amount.
.. so I have it on my screen since June.

I decided its time for a retrace and so Im hunting the h4 50 Ema touch with a smaller tf (m5 and m30 based) entry.

After 40 pips in profit set the SL to BE and let it run.


Here we go


Guido
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Risiko birgt immer auch die Chance.
  • #13,243
  • Jul 26, 2017 7:33am Jul 26, 2017 7:33am
Can this also be considered as a good 10ema touch trade?
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,244
  • Jul 26, 2017 8:21am Jul 26, 2017 8:21am
Quoting ejiexe
Can this also be considered as a good 10ema touch trade? {image}
If it touches the 10 Ema... its a 10 Ema touch:-)
Risiko birgt immer auch die Chance.
  • #13,245
  • Jul 26, 2017 8:21am Jul 26, 2017 8:21am
Quoting ejiexe
Can this also be considered as a good 10ema touch trade? {image}
yes and no. there is a big R at 1.3050 on the H1, so i would be careful.
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trading is like dancing, don't think and just listen to the music!
  • #13,246
  • Jul 26, 2017 11:26am Jul 26, 2017 11:26am
Quoting Sesamstrasse
{quote} If it touches the 10 Ema... its a 10 Ema touch:-)
Thanks
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,247
  • Jul 26, 2017 11:27am Jul 26, 2017 11:27am
Quoting birdland
{quote} yes and no. there is a big R at 1.3050 on the H1, so i would be careful. {image}
Thanks. i am really learning to dance from you people. thanks for understanding
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #13,248
  • Jul 27, 2017 2:30pm Jul 27, 2017 2:30pm
USDCAD = 20.9 pips

Finally there have been some strong trending markets. I missed the initial 2-bar touch trade and was hoping to find another opportunity on the 5 minute chart. While it was riskier since the trade signal had already passed, it still paid off. I was lucky and managed to grab 20.9 pips. Had I waited for the bar to close it would have been only 11 pips. Because I entered the trade late, I gave up 10 pips which was the initial trade's entry. The reason why I ignored the round number is I've noticed that when there is a breakout, support levels tend to be ignored by the market.
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  • #13,249
  • Jul 28, 2017 12:10pm Jul 28, 2017 12:10pm
EURUSD = +19 pips / 8 pip SL below RN

Once you find a working system, the game no longer becomes where do I find trading opportunities. It becomes how do I wait patiently out of the markets when there are no trade setups--it's not my turn to dance--and how do I make the most out of good trade setups--continue dancing when I've found rhythm with my partner.
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  • #13,250
  • Aug 2, 2017 2:06am Aug 2, 2017 2:06am
USDJPY = Breakeven

Good setup messed up by an early breakeven (= fear/lack of confidence).

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  • #13,251
  • Edited 2:56am Aug 2, 2017 2:45am | Edited 2:56am
Higher tf play.

Stay tuned
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Risiko birgt immer auch die Chance.
  • #13,252
  • Aug 2, 2017 4:03am Aug 2, 2017 4:03am
Hi

I took this EU 10 ema touch trade. Had a couple of bad days last week, now recovering discipline. Also I had been playing whith the MT4
simulator whith very good results. For now i will stick to 10 ema touch trades .

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  • #13,253
  • Aug 2, 2017 11:12am Aug 2, 2017 11:12am
Quoting BermeoFX
Hi I took this EU 10 ema touch trade. Had a couple of bad days last week, now recovering discipline. Also I had been playing whith the MT4 simulator whith very good results. For now i will stick to 10 ema touch trades . {image}
Nice nice nice. I saw that trade, but I was worried because it was just after the London open. I've found that the 10 EMA touch trades are the most mechanical and consequently the easiest to identify whereas constrainment requires some discretion. This is partly because price is next to the trend direction indicator.
  • #13,254
  • Aug 3, 2017 10:08am Aug 3, 2017 10:08am
Quoting Haydel
Possible SHORT: USDJPY H1 10EMA in confluence with M15 35/50 and RN at 110.5000.
I think that this call (made around 20 minutes before price got there) was the mother of all my calls.
My entry point was exactly at RN and it gave me +50p from RN to RN with almost no draw-down!!!
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  • #13,255
  • Aug 3, 2017 12:18pm Aug 3, 2017 12:18pm
Quoting Haydel
{quote} I think that this call (made around 20 minutes before price got there) was the mother of all my calls. My entry point was exactly at RN and it gave me +50p from RN to RN with almost no draw-down!!! {image}
Im still in ...

UJ - m15 first touch 10 but much earlier ( at BO).. without retrace
.. the second order is sell pending, placed on the last swing low ..
Scaling works better with larger tps ..
Im trying different types of moneymanagement atm..

A big picture view showed me a much lower bottom..
Finally its my target to hunt these long term trades intraday and try to let them run/ transfer them to daily or weekly trades.

The advantage is the enormeous value what comes out from a " 10 pips SL "/ 1-2% risk . and a TP of 100-200

Well see how it goes in the long term.

Stay tuned
Guido
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Risiko birgt immer auch die Chance.
  • #13,256
  • Aug 3, 2017 12:39pm Aug 3, 2017 12:39pm
Hi Guido,

On the W1 price is right at the 50 sma. If it closes Friday beyond the 110.00 price go much lower. Last low is just above 100.00 If we get a 50% fib retrace the price goes to 105.00 That is why I use that as my TP.
Good luck with your trade.

Emiel
  • #13,257
  • Edited 1:57pm Aug 3, 2017 12:56pm | Edited 1:57pm
Quoting emiel2303
Hi Guido, On the W1 price is right at the 50 sma. If it closes Friday beyond the 110.00 price go much lower. Last low is just above 100.00 If we get a 50% fib retrace the price goes to 105.00 That is why I use that as my TP. Good luck with your trade. Emiel
Hello Emiel.

For weekly and monthly view I use of a big picture analyses ..

For me it looks like the weekly 50 ema is already touched twice and now the price crossed without any reaction.
I look for last swing lows .. about 150 pips empty space to get there.

we will see if it goes around 109 (my TP).
No= a loss of 3% of my account
Yes = 20-25% profit

Cu in skype -- have a nice holiday

Guido
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Risiko birgt immer auch die Chance.
  • #13,258
  • Aug 3, 2017 3:32pm Aug 3, 2017 3:32pm
Quoting Haydel
{quote} I think that this call (made around 20 minutes before price got there) was the mother of all my calls. My entry point was exactly at RN and it gave me +50p from RN to RN with almost no draw-down!!! {image}
Nice Trade; short and sweet for the win. I'm looking at your chart and I see some conflicting signals. Was there anything that told you this wasn't a fakeout because I see a bounce off the pivot line with a rejection wick on the candle before your entry as well as price rejection before the move upward. Thanks!
  • #13,259
  • Aug 4, 2017 9:00am Aug 4, 2017 9:00am
Quoting Tremulous
{quote} Nice Trade; short and sweet for the win. I'm looking at your chart and I see some conflicting signals. Was there anything that told you this wasn't a fakeout because I see a bounce off the pivot line with a rejection wick on the candle before your entry as well as price rejection before the move upward. Thanks!
Choros is basically a scalping system. When you see a perfect Choros setup and you enter targeting for 10 pips, you will be profitable almost all of the time.
When I trade the M15 10EMA touch I usually target for 10 pips, when trading the H1 10EMA I target for around 15 pips, when trading the H4 10EMA or the D1 10EMA I target for 20 to 30 pips.

So in that trade I was targeting for around 15 pips, and as you can see, form the entry point to the pivot line there is around 15 pips, so I was ready to manually close the trade to get my 15 pips, but suddenly the next bar opened with that huge gap and I was +30p in profit, so in this case I let the trade run and set my target at the next RN. That is not usually the case.

I admit that a couple of times I got 100 pips from Choros setups, but I realized that trying to repeat that I ended up with many loses or Break Evens. So I always remember my self that Choros is a very effective Scalping System, so when you see a "bounce off the pivot line with a rejection wick" or a bounce form any real Supply/Demand or Support/Resistance, you can be almost sure that if you see perfect Choros setups during that big bounce, you will get 10 pips at the first touch of the M15 10EMA, you will get another 10 to 15 pips at the touch of the H1 10EMA, and so on.

I think that making many +10p trades is easier and more profitable than looking for a +100p huge trade.
  • #13,260
  • Aug 4, 2017 9:16am Aug 4, 2017 9:16am
This was a H4 10EMA in confluence with H1 35/50 and RN at 145.0000.

My entry point was exactly at RN. Price went almost 20 pips against me , I didn't close the trade at that point because I was hoping that DP and WP would hold and because this was the H4 10EMA first touch. After around 30 minutes price went my way and I closed the trade manually at +20p.
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