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CHOROS System

  • #13,461
  • Feb 7, 2018 6:28am Feb 7, 2018 6:28am
Quoting PedroIV
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...
Market took me out, +1,8% so my daily goal is still not accomplished but pips are pips. If I see something good to get the remaining 1,2% will post again, thanks
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,462
  • Feb 7, 2018 7:13am Feb 7, 2018 7:13am
Quoting PedroIV
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...
With green pips you do NOTHING wrong..

But keep in mind, first touches are the safest touches--

Price broke clearly 35+50 MA, closed below both..
New candle touched that way the Ema 10 -- may be not clear at the candle open.( 1 )
I bet it wasn t clear visible when new candle open appeared and it looked like MA soup so--( too volatile for me, Kostas nails it )
2. clear touch
3.touched already this one can be good but is more risky--
If you had taken them earlier, the expecting pips could be more--

Could -- if--??
What counts is green.. and you made it

Stay tuned
Guido
Attached Image (click to enlarge)
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Risiko birgt immer auch die Chance.
  • #13,463
  • Feb 7, 2018 8:20am Feb 7, 2018 8:20am
Quoting Sesamstrasse
{quote} New candle touched that way the Ema 10 -- may be not clear at the candle open.( 1 ) I bet it wasn t clear visible when new candle open appeared and it looked like MA soup so--( too volatile for me, Kostas nails it )
He, he.... (damn I got out early at DP with +18p, scared of the volatility...)
Attached Image (click to enlarge)
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  • #13,464
  • Feb 7, 2018 8:24am Feb 7, 2018 8:24am
Quoting Sesamstrasse
{quote} With green pips you do NOTHING wrong.. But keep in mind, first touches are the safest touches-- Price broke clearly 35+50 MA, closed below both.. New candle touched that way the Ema 10 -- may be not clear at the candle open.( 1 ) I bet it wasn t clear visible when new candle open appeared and it looked like MA soup so--( too volatile for me, Kostas nails it ) 2. clear touch 3.touched already this one can be good but is more risky-- If you had taken them earlier, the expecting pips could be more-- Could -- if--?? What counts is green.. and...
Thank you Guido, I have a few questions if you don't mind:

1.- Regarding clear breaks now that you mentioned it, all I have on my notes is: "clear break is when a candle crosses clearly any of the 3 MAs to confirm an entry at the close of the candle". I never quite understood it correctly, and in your example, it means that the clear break down would be considered another extra confirmation for a possible short taken in 1, right?

2.- I know 2 bar rule can be "relaxed" when the other variables are "nice" for the touch; so there in point 2, the variables would be that: 35/50 were close to eachother and pointing down, that M5 35/50 rejected the price, that there was confluence with RN, AND it was a first touch -thanks for pointint that up, I keep forgetting-, right? All together could relax the 2 bar rule or am I missing any variable?

3.- Regarding the 2 bar rule, I read in the early thread that a trader (don't remember the name) suggested that the 10EMA bounces were more reliable if only took 1 bar retracement exactly instead of two bars, and kostas said that it would be interesting to see if that rule was worth including after testing it, I understand that rule never made it? I ask because I have it on my notes and maybe is better to remove it (I'm still in page 91, so this is a bit asking in advance).

Thank you for the elaborated response, I also noticed the suggested TP level by the way, wish I used it!
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,465
  • Feb 7, 2018 8:25am Feb 7, 2018 8:25am
Quoting kostas1
{quote} He, he.... (damn I got out early at DP with +18p, scared of the volatility...) {image}
This made me chuckle haha, saw it when published the response, indeed you know eachother! Very good job I hope someday I can reach the level you guys have
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,466
  • Edited 9:30am Feb 7, 2018 9:03am | Edited 9:30am
Quoting PedroIV
{quote} Thank you Guido, I have a few questions if you don't mind: 1.- Regarding clear breaks now that you mentioned it, all I have on my notes is: "clear break is when a candle crosses clearly any of the 3 MAs to confirm an entry at the close of the candle". I never quite understood it correctly, and in your example, it means that the clear break down would be considered another extra confirmation for a possible short taken in 1, right? 2.- I know 2 bar rule can be "relaxed" when the other variables are "nice" for the touch; so there in point 2,...
1. "clear break is when a candle crosses clearly any of the 3 MAs to confirm an entry at the close of the candle"
- No, it is a clear break of all 3 MA´s and closes opposite direction (a short in a long or vice versa)

"it means that the clear break down would be considered another extra confirmation for a possible short taken in 1, right?"
- No, it just shows the indicated direction (a long trade) isn t valid anymore, the price didn t respect the MA´s.
This happens often as 2rd, 3rd 4th 5th touch trades -- first are safest..

2. " when the other variables are "nice" for the touch"
- I can t say violate the 2 bar rule .. BUT-- Dancing is totally discretionary, nothing is 100%, if other conditions met and the price doesn t count bars ..
Up to you-- as long as you produce more profits than losses= keep it -- that simple.

3.Sry, no idea if a "one bar" retrace to 10 ema is better or not--
I pull the trigger when I see something happens and Choros is excellent to see what the market does right now or the next couple of minutes..

"I also noticed the suggested TP level by the way, wish I used it!"

I can strongly recomment to have a plan before entering.. where is the tp?-- half position out after xxx pips-?- or a when to set to BE ?-- or no BE-- ? SL?
-whatever-- have a plan and you get rewarded.


Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #13,467
  • Feb 7, 2018 9:17am Feb 7, 2018 9:17am
Quoting Sesamstrasse
{quote} 1. "clear break is when a candle crosses clearly any of the 3 MAs to confirm an entry at the close of the candle" - No, it is a clear bread of all 3 MA´s and closes opposite direction (a short in a long or vice versa) "it means that the clear break down would be considered another extra confirmation for a possible short taken in 1, right?" - No, it just shows the indicated direction ( a long trade) ist valid anymore, the price didn t respect the MA´s. This happens often as 2rd, 3rd 4th 5th touch trades -- first are safest.. 2. " when the...
Everything understood, thank you! Specially for underlining that much the importance of first touches, I tended to overlook that.

My MM rules are as follow (are strict): I risk 2% in two operations, one of them has a "fixed" TP (10-Spread) and the other I place the TP manually depending on the conditions I see but minimum ideal is around 2*SL, to get 3%+commisions with a single good trade per day.

In this case, I placed the "not fixed" TP too far away (initially placed it at the minimum but then I saw more room, too much, I still need to learn to manage it better). I like a lot this management but it relies a bit on my skills to set a proper TP.

Edit. Forgot to mention, also once the first half gets TP, I set second half to BE right away, also strict rule, the only subjectivity is the point I set the "not fixed" TP and how I trail it.
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,468
  • Feb 8, 2018 1:47am Feb 8, 2018 1:47am
took H1 touch eur/jpy exit was at round number +19
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  • #13,469
  • Feb 8, 2018 2:01am Feb 8, 2018 2:01am
earlier a failed touch on the m15 35ma any insights?
Attached Image
  • #13,470
  • Feb 8, 2018 2:16am Feb 8, 2018 2:16am
Quoting amedeo
took H1 touch eur/jpy exit was at round number +19 {image}
- also athe TP - 20 pips in a H1 gets often reached--
Risiko birgt immer auch die Chance.
  • #13,471
  • Feb 8, 2018 2:18am Feb 8, 2018 2:18am
Quoting amedeo
earlier a failed touch on the m15 35ma any insights? {image}

10 between 35 and 50 = MA soup.. by the way both are wide separated and flat-- you payed for it with around 10 pips.
Risiko birgt immer auch die Chance.
  • #13,472
  • Feb 8, 2018 2:30am Feb 8, 2018 2:30am
I took the 50EMA touch in EJ and lost it, there was 10 pips room until the RN (where I make TP half and make BE the other half) and a bit more until the daily pivot (where I placed the second TP after the picture). Included M5 for reference:

Attached Image (click to enlarge)
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I saw some sort of "scoop up" formation in H1 supporting the possible long and also I noticed 50EMA was a bit flat in the moment of the touch but 35SMA was still steep. They both were ~9 pips away. As always any comments are very appreciated, thanks
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,473
  • Feb 8, 2018 5:23am Feb 8, 2018 5:23am
Quoting PedroIV
I took the 50EMA touch in EJ and lost it, there was 10 pips room until the RN (where I make TP half and make BE the other half) and a bit more until the daily pivot (where I placed the second TP after the picture). Included M5 for reference: {image} I saw some sort of "scoop up" formation in H1 supporting the possible long and also I noticed 50EMA was a bit flat in the moment of the touch but 35SMA was still steep. They both were ~9 pips away. As always any comments are very appreciated, thanks
the reason i didnt take this was because of the previous H1 touch did not want to be against higher time frame
  • #13,474
  • Feb 8, 2018 5:42am Feb 8, 2018 5:42am
Quoting amedeo
{quote} the reason i didnt take this was because of the previous H1 touch did not want to be against higher time frame
Thank you my friend, I sometimes have a hard time filtering the avaiable information (pros and cons of an operation), your input helps a lot really
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,475
  • Feb 8, 2018 7:23am Feb 8, 2018 7:23am
Quoting PedroIV
{quote} Thank you my friend, I sometimes have a hard time filtering the avaiable information (pros and cons of an operation), your input helps a lot really
cool, am also trying to learn

another trade clear break never taken such a trade
Attached Image
  • #13,476
  • Feb 8, 2018 8:52am Feb 8, 2018 8:52am
was this a valid H1 candle dead ended on ma, took buy got stopped out
but i was not comfortable trading against that momentum
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  • #13,477
  • Feb 8, 2018 9:38am Feb 8, 2018 9:38am
Quoting amedeo
{quote} cool, am also trying to learn another trade clear break never taken such a trade {image}
I like a lot your entry, it would fall into the scoop down category right?

I'm learning also, we will eventually get there, I never forget Clay's words... we only need to stick to the strategy until we master it. So we share same road
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,478
  • Feb 8, 2018 2:12pm Feb 8, 2018 2:12pm
i took it as a clear break H1 had broken ema 10 and m15 had broken all MA so no resistance to block the price
  • #13,479
  • Feb 9, 2018 3:16am Feb 9, 2018 3:16am
Took this entry before the red news:

Attached Image (click to enlarge)
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First touch, both MAs are on top of another and confluence with H1 10EMA.

My trailing:

This time I got the first half quick, and after I set the other half to BE (left picture), price created a big bar, so I trailed the second half in a conservative way (right picture): Just moved SL from BE to +3% to achieve my daily goal, and the TP right before the next resistance I saw, that was approx a total of 6%, would recover yesterday's failure.
Attached Image


And then took off and let the market do its thing.
Just came back and saw it took my SL, so I got my 3% but didn't recover yesterday's failure, still pips are pips and I'm done for this week. Any comments (specially if I'm missing something) would help a lot, thanks and have a great weekend.

Edit. Typo
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
  • #13,480
  • Feb 9, 2018 3:21am Feb 9, 2018 3:21am
Quoting amedeo
i took it as a clear break H1 had broken ema 10 and m15 had broken all MA so no resistance to block the price
True, I keep forgetting "clear break" concept thank you
"THE TRADER is the 'holy grail' NOT the strategy or the chart setup."
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