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CHOROS System

  • #13,441
  • Jan 29, 2018 1:45am Jan 29, 2018 1:45am
thanks kostas1 and guido
today took this constrainment on h1 waited for the m15 to touch 35ma exit was at rn rejection
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  • #13,442
  • Jan 29, 2018 1:48am Jan 29, 2018 1:48am
Quoting amedeo
thanks kostas1 and guido today took this constrainment on h1 waited for the m15 to touch 35ma exit was at rn rejection {image}
isn't that a support though ?
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...
  • #13,443
  • Edited 2:14am Jan 29, 2018 1:53am | Edited 2:14am
Quoting amedeo
thanks kostas1 and guido today took this constrainment on h1 waited for the m15 to touch 35ma exit was at rn rejection {image}
Totally correct, the price constrained along the 35 sma down.

Quoting Piquant
{quote} isn't that a support though ? {image}
round number.. ...........

Amedeo did it smart and took the TP a bit above.
Risiko birgt immer auch die Chance.
  • #13,444
  • Jan 29, 2018 3:21am Jan 29, 2018 3:21am
Constrainment is surely a powerful signal it broke the resistance
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  • #13,445
  • Jan 31, 2018 11:28pm Jan 31, 2018 11:28pm
Hello there,

this month I start with the demo (still haven't been able to use the simulator all I would like to so I'll do it also in my free times), and I will start posting my results and trades here if that's okay, for you guys to criticise and help. Still haven't started reading this thread but I plan to do so (slowly, 670+ pages!) at once with the demo.

The stats and MM are:
1000euro starting capital (same I will use when I start on real).
2% risk per trade, in two separated trades 1% each, taken at once and using BE as soon as price travels 10 pips on my favor, so I can try and let the good ones fly.
3%+comissions daily goal avg.
2% maximum daily loss (still not 100% sure this is appropiate because I could miss a good chance after losing an operation, any suggestions welcome).
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,446
  • Feb 1, 2018 12:34am Feb 1, 2018 12:34am
The first operation didn't take long:

Took a bounce, it wasn't taken from the 50 but it was in the 35 so I took it despite price didn't move 15 pips up, and the 10 EMA was pointing down. TPs aren't on the right levels yet
Attached Image (click to enlarge)
Click to Enlarge Name: Post1.png Size: 56 KB

Note the extra lines on my H1 are the H4 equivalent MAs, for quick reference.

First half closed, and I moved the TP to accomplish the daily goal:
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I saw a very bullish bar, so I increased the TP (that was on my plan, up to that point) AND here my psychology betrayed me and I trailed the operation in a very agressive way because of the current resistance not completely broken instead of following Clay's trailing rules. You can call it fear.
Attached Image (click to enlarge)
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My SL got hit quickly, but if I trailed it properly (or didn't move at all, which was also OK with my trading plan), I would have gotten more than 3%, or at least 3%. Lesson 1: second guessing the rules is fear.

Anyway 2,15% up, if I see something very clear I will take it with 1% risk to complete my daily goal (away from red news times), and if not I happily sign this result being the first day. One question, tomorrow's NFP, should I even bother trading? What do you guys do?

Thanks
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,447
  • Edited 2:09am Feb 1, 2018 1:27am | Edited 2:09am
Quoting PedroIV
The first operation didn't take long: Took a bounce, it wasn't taken from the 50 but it was in the 35 so I took it despite price didn't move 15 pips up, and the 10 EMA was pointing down. TPs aren't on the right levels yet {image} Note the extra lines on my H1 are the H4 equivalent MAs, for quick reference. First half closed, and I moved the TP to accomplish the daily goal: {image} I saw a very bullish bar, so I increased the TP (that was on my plan, up to that point) AND here my psychology betrayed me and I trailed the operation in a very...

Excellent posting!!

The thing with " trailing SL to BE:
everybody has his own rules, nothing is in stone-- do what fits to YOU.
As long as you do it minimum 100 trades with the same aproach and do your analytics after. it makes absolutely sense.

I also prefer to put it to BE after around the half way.


"One question, tomorrow's NFP, should I even bother trading? What do you guys do?"

I don t like the payrolls by themself anymore.
Market makes large moves, wicks in both directions-- not for me..
But itīs only a time window of 30 min earlier and after what to skip.

After 12 oīclock german time, the markets will be slow and you must ask yourself :
When I enter now, how possible is it my TP get reached before the time window closes for a 1 hour ?"-- thatīs all..


" and if not I happily sign this result being the first day."

If you stick to such AAA setups and be patient.. it will pay out for sure.. --impatience is expensive.. up to you!


Excellent trading.
Bravo.

Guido
Risiko birgt immer auch die Chance.
  • #13,448
  • Feb 1, 2018 1:41am Feb 1, 2018 1:41am
Quoting PedroIV
The first operation didn't take long: Took a bounce, it wasn't taken from the 50 but it was in the 35 so I took it despite price didn't move 15 pips up, and the 10 EMA was pointing down. TPs aren't on the right levels yet {image} Note the extra lines on my H1 are the H4 equivalent MAs, for quick reference. First half closed, and I moved the TP to accomplish the daily goal: {image} I saw a very bullish bar, so I increased the TP (that was on my plan, up to that point) AND here my psychology betrayed me and I trailed the operation in a very agressive...
sometimes i prefer to wait for the NFP news and trade after. but some days you can trade hours before. generelly when i find a slow market hours before i will close the position because "slow" means "risk" to me.
trading is like dancing, don't think and just listen to the music!
  • #13,449
  • Feb 1, 2018 5:58am Feb 1, 2018 5:58am
Quoting Sesamstrasse
{quote} Excellent posting!! The thing with " trailing SL to BE: everybody has his own rules, nothing is in stone-- do what fits to YOU. As long as you do it minimum 100 trades with the same aproach and do your analytics after. it makes absolutely sense. I also prefer to put it to BE after around the half way. "One question, tomorrow's NFP, should I even bother trading? What do you guys do?" I don t like the payrolls by themself anymore. Market makes large moves, wicks in both directions-- not for me.. But itīs only a time window of 30 min earlier...
Thank you for the support and kind words, it really means a lot.

Yes, I think I will continue to use my own management, I have a couple of ideas and as you suggest I should give it an extensive try before ditching anything and see what works best for me.

And about the NFP I will do the same and only try to catch nice entries when the markets still have average volatility, I don't wanna sail the calm before the storm, I rather remain docked..

Thanks again Guido
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,450
  • Feb 1, 2018 6:00am Feb 1, 2018 6:00am
Quoting birdland
{quote} sometimes i prefer to wait for the NFP news and trade after. but some days you can trade hours before. generelly when i find a slow market hours before i will close the position because "slow" means "risk" to me.
Yes, I will do that also (despite I don't like Friday afternoons, if I'm there and I see a nice opportunity is good to know there's a window before the market close), thanks for pointing it out to me
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,451
  • Feb 1, 2018 7:23am Feb 1, 2018 7:23am
Quoting PedroIV
The first operation didn't take long: Took a bounce, it wasn't taken from the 50 but it was in the 35 so I took it despite price didn't move 15 pips up, and the 10 EMA was pointing down. TPs aren't on the right levels yet {image} Note the extra lines on my H1 are the H4 equivalent MAs, for quick reference. First half closed, and I moved the TP to accomplish the daily goal: {image} I saw a very bullish bar, so I increased the TP (that was on my plan, up to that point) AND here my psychology betrayed me and I trailed the operation in a very agressive...
I have the same thoughts than Sesamstrasse. Absolut great approach. Good that you start first with demo trading and that you took a demo amount, that is realistic for you.

For me NFP day is a free day most of the time, since the market can go crazy. I also donīt like to hang in a trade with low volatility before the NFP announcement. I had too often bad experience with such days. But you have to make your own experience.

I wish you the best in your trading. Dont stop practising what you have learned in this theat
Learn from winners, not from losers
  • #13,452
  • Feb 2, 2018 12:49am Feb 2, 2018 12:49am
Quoting FXDetermined
{quote} I have the same thoughts than Sesamstrasse. Absolut great approach. Good that you start first with demo trading and that you took a demo amount, that is realistic for you. For me NFP day is a free day most of the time, since the market can go crazy. I also donīt like to hang in a trade with low volatility before the NFP announcement. I had too often bad experience with such days. But you have to make your own experience. I wish you the best in your trading. Dont stop practising what you have learned in this theat
Thank you, so far I plan to scout the market for 1-2h more (in GBPUSD even less because of the red news in ~1h) and unless I see something VERY clear for me, I have no intention to risk anything.

Will check in the NY session window before the close of the market if I can, but I rather close a week green and move on than risk it. Taking NFP days off is something I will consider too if after a few months I don't find anything worth to me it within the "tradeable" windows. Thank you for your support and advice!

By the way, I was checking the charts while writing this (took me forever to write it) and I saw something but didn't take it:
Attached Image (click to enlarge)
Click to Enlarge Name: Post.png Size: 56 KB


I didn't take it (yellow arrow, wasn't there with the previous candles but I doubt I would have taken it either) because it was the third touch already on the 10EMA and it was flattened/pointing up when I was there, also the RN was right there, and I believed it could also bounce up. Also I want to start with the basics and scoops are a bit more advanced, but just out of curiosity would like to see what you guys think. Thanks
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,453
  • Feb 2, 2018 1:31am Feb 2, 2018 1:31am
Quoting PedroIV
{quote} Thank you, so far I plan to scout the market for 1-2h more (in GBPUSD even less because of the red news in ~1h) and unless I see something VERY clear for me, I have no intention to risk anything. Will check in the NY session window before the close of the market if I can, but I rather close a week green and move on than risk it. Taking NFP days off is something I will consider too if after a few months I don't find anything worth to me it within the "tradeable" windows. Thank you for your support and advice! By the way, I was checking the...
i dont trade scoops, only 10ema touch trades sometimes.
kostas is good in the scoop ones.
trading is like dancing, don't think and just listen to the music!
  • #13,454
  • Feb 2, 2018 9:26am Feb 2, 2018 9:26am
Hello again dancers,

Okay after the GU scoop (have seen a GU constainment but right before NFP so won't review it), I reviewed EJ and here are my thoughts:
Attached Image (click to enlarge)
Click to Enlarge Name: Post.png Size: 64 KB


Yellow entry is great entry (which I didn't take because left the computer right after posting confident next chance would take a while to show up, silly me! it happened next bar), confluence of: RN, M15 35SMA with good angle (50EMA probably was more flat, but I have no pictures of it in the moment the price was around the RN) and also H1 10EMA bounce. This touch was great entry in my eyes, if I'm missing something please tell me.

Purple entry was right when orange news arrived (I was there and didn't take it because of that). I was close to take it because news were USD and this pair is not directly related. Apart of the news, the only things I see this entry would be failed is the MAs were ~9 pips away instead of ~5 (angles when the price was touching probably were similar to the yellow entry, 50EMA one being more flat than 35 SMA). Do you guys trade during non-red news not directly related to the pair?

Blue entry I saw it and did not take because lack of confidence. Seeying the result I guess it was a valid H1 bounce in two bars to the RN? Anything I'm missing?

Any comment is always greatly appreaciated, and sorry if I ask too much, everyone have a great weekend

@birdland: for now I try to only trade touches and constrainments, but I want to learn as much as possible to find what suits me best and improve. This strategy is amazing, and I felt very welcomed on the thread, wish I found it earlier. Thanks

Edit. Probably my questions are all answered on the thread, honestly I still haven't started reading this one (but starting this week), so excuse me for being "that guy" asking all this and don't feel bad to refer me to the thread if needed please
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,455
  • Feb 5, 2018 12:24am Feb 5, 2018 12:24am
Good morning dancers,
This entry I just made was entirely based on what I considered a pingpong area on H1, this was my reasoning:

MAs were 30 pips apart, and there was two previous bounces (one up and one down), also long wicks on my favor recently and Daily S1 to hide SL behind:
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It was a quick lost, so I gave back my profits and I'm back to the start line! It is an "advanced" trade, and I wanted to give it a try because demo, for the sake of learning. Perhaps I should wait to the COB on these kind of pingpong setups? Any ideas/advices about pingpongs? Thank you guys

My rules call for no more operations today (even if are demo tests this forces me to try and be more picky like I'll be in real account), so I will be watching the market and studying the thread (almost 50 pages already )
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,456
  • Feb 5, 2018 12:48am Feb 5, 2018 12:48am
Quoting PedroIV
Good morning dancers, This entry I just made was entirely based on what I considered a pingpong area on H1, this was my reasoning: MAs were 30 pips apart, and there was two previous bounces (one up and one down), also long wicks on my favor recently and Daily S1 to hide SL behind: {image} It was a quick lost, so I gave back my profits and I'm back to the start line! It is an "advanced" trade, and I wanted to give it a try because demo, for the sake of learning. Perhaps I should wait to the COB on these kind of pingpong setups? Any ideas/advices...
stay with the "easier" one strategies, like 10 or 35/50 touch trades.
also daily lows are there to be taken out, especially when the 35,50 and 10 on M15 are falling.
i would suggest to learn one or two strategies and perfectionize them OR trade just 1 or 2 pairs and study their character.
trading is like dancing, don't think and just listen to the music!
  • #13,457
  • Edited 2:05am Feb 5, 2018 1:19am | Edited 2:05am
Quoting PedroIV
Good morning dancers, This entry I just made was entirely based on what I considered a pingpong area on H1, this was my reasoning: MAs were 30 pips apart, and there was two previous bounces (one up and one down), also long wicks on my favor recently and Daily S1 to hide SL behind: {image} It was a quick lost, so I gave back my profits and I'm back to the start line! It is an "advanced" trade, and I wanted to give it a try because demo, for the sake of learning. Perhaps I should wait to the COB on these kind of pingpong setups? Any ideas/advices...

No, no advanced trade-- just not valid-- in H1 possible valid.. But:
Look, the 10 Ema was between the 35 and 50-- what we call a MA soup.

Don t forget, itīs a second touch 0f the 50 Ema-- first touches are the safest!!!!

Last week I wrote:
"If you stick to such AAA setups and be patient.. it will pay out for sure.. --impatience is expensive.. up to you!"

Nothing changed -- up to you

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #13,458
  • Feb 5, 2018 1:31am Feb 5, 2018 1:31am
Quoting birdland
{quote} stay with the "easier" one strategies, like 10 or 35/50 touch trades. also daily lows are there to be taken out, especially when the 35,50 and 10 on M15 are falling. i would suggest to learn one or two strategies and perfectionize them OR trade just 1 or 2 pairs and study their character.
Quoting Sesamstrasse
{quote} No, no advanced trade-- just not valid-- in H1 possible valid.. But: Look, the 10 Ema was between the 35 and 50-- what we call a MA soup. Don t forget, itīs a secont touch 0f the 50 Ema-- first touches are the safest!!!! Last week I wrote: "If you stick to such AAA setups and be patient.. it will pay out for sure.. --impatience is expensive.. up to you!" Nothing changed -- up to you Stay tuned Guido
You both made it clear guys, I am using a wrong approach.

It's a demo and I planned to master the basic setups while I learnt the "advanced" ones, seems like nothing wrong.
But you made me see I need to stablish a rule here, from now on I will only trade the basics (10,35/50 and constrainments) AND "watch closely" the advanced ones -taking pictures and notes for learning-, but no trades taken even if demo, total focus on the AAA until I can be consistent and profitable on those only for a long time, then time will tell. Step by step.

I didn't mention it but I only use EJ and GU, and my plan is to get to "know" them inside-out and in the future either using both or choosing the one I like the most.

Thank you both
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,459
  • Feb 5, 2018 7:56am Feb 5, 2018 7:56am
Here is a fresh one.
Short from EMA 10 bounce, exit at DS1, RN.
I traded with the WP in front of me, which I usually avoid...
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  • #13,460
  • Feb 7, 2018 4:01am Feb 7, 2018 4:01am
Good morning dancers, thank you for the example Kostas!

Yesterday I didn't see anything clear when I was on PC so I continued to study the thread and the post #1692 made me think a bit about 10EMA bounces.

They feel kinda "unsafe" to me to just take them right away and I tried to apply some sort of kostas' approach and take them using M5 to finetune and waiting to the price to "return" to the level (for now only doing this with 10EMA touches). Now just came back to PC and saw one chance and took it despite EMA being kinda flat in that candle I was expecting the bounce due to the confluence with the RN and after M5 "near" 35SMA:

Attached Image (click to enlarge)
Click to Enlarge Name: post tp increased missing.png Size: 65 KB


So far one of the operations already closed +1% profit and I moved the other to BE and the TP is right above Daily S1, I plan to hopefully trail it properly this time!

Any comments are greatly appreciated, will update you guys with the result of the other half
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
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