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CHOROS System

  • #13,501
  • Mar 1, 2018 1:13pm Mar 1, 2018 1:13pm
This trade was an AAA according to the books.

It was an H4 10EMA touch in confluence with Daily Pivot. And the H1 chart shows that the entry was exactly at the H1 35SMA.

I got +12p with this one, but as you can see these H4 AAA Setups can give a lot more. Is giving more that 70 pips already.

I took the profit in just a few minutes, I did that because with AAA CHOROS setups you will always get your 10 pips (This is Kostas addition to the method); Is when you try to get more pips that you end at Break Even or loosing. Nevertheless, I've seen these H4 AAA Setups working so well so many times, that I'm considering let these trades run longer. For example if I would have let this trade run for 3 hours, I could have gotten 70 pips. The thing is not to freak out when price is returning to your entry point, as you can see in the H1 chart, that happened on the next H1 bar after my entry.

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  • #13,502
  • Mar 1, 2018 1:55pm Mar 1, 2018 1:55pm
Quoting Haydel
This trade was an AAA according to the books. It was an H4 10EMA touch in confluence with Daily Pivot. And the H1 chart shows that the entry was exactly at the H1 35SMA. I got +12p with this one, but as you can see these H4 AAA Setups can give a lot more. Is giving more that 70 pips already. I took the profit in just a few minutes, I did that because with AAA CHOROS setups you will always get your 10 pips (This is Kostas addition to the method); Is when you try to get more pips that you end at Break Even or loosing. Nevertheless, I've seen these...
Excellent trading!
Risiko birgt immer auch die Chance.
  • #13,503
  • Edited 9:00am Mar 7, 2018 8:46am | Edited 9:00am
Hello. I believe this trade should meet the right criteria. Can anyone confirm please? Initial stop was 10 pips and the arrow marks the point where I entered off the 10ma. Closed half at 15 pips. Stop now is just below the RN. At the R marked on the H1 chart I will see how it behaves (if it ever gets there). If it stalls I will close the rest, if it shoots through it I will pursue the 132.00 RN.

EDIT: 2.55pm GMT: Well, stop was just taken. I wonder if I should have given it more room before moving the stop, but overall r/r was 1:1.5 on initial stake, so not complaining at all.
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  • #13,504
  • Mar 7, 2018 10:20am Mar 7, 2018 10:20am
In hindsight, my management turned out to be good. I think there was another bounce off the 35/50 later which at this moment would still be either open or closed or in profit depending on management, although the 50 RN appears to be a tough resistance to break.
  • #13,505
  • Mar 8, 2018 3:08am Mar 8, 2018 3:08am
Just took this touch trade (2nd touch actually as I missed the 1st one). The pip counter shows double as the stake is split into 2 parts.

EDIT: Closed 1st half at 15 pips and 2nd half was taken out at b/e + 1.
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  • #13,506
  • Mar 8, 2018 3:18am Mar 8, 2018 3:18am
Quoting 4fxonly
Just took this touch trade (2nd touch actually as I missed the 1st one). The pip counter shows double as the stake is split into 2 parts. EDIT: Closed 1st half at 15 pips and 2nd half was taken out at b/e + 1. {image}
you trade against a higher timeframe, in this case H1.

2.nd touch and against a higher TF?

I clearly wouldn t do it, up to you.

Guido
Risiko birgt immer auch die Chance.
  • #13,507
  • Mar 8, 2018 4:02am Mar 8, 2018 4:02am
Quoting Sesamstrasse
{quote} you trade against a higher timeframe, in this case H1. 2.nd touch and against a higher TF? I clearly wouldn t do it, up to you. Guido
Hi Guido. Appreciate your reply. I'm only half way in the original Clay's thread, so let alone the other two. I am taking it very easy because I have a super busy life and also because there are so many detailed posts and pictures to analyse with so many explanations (bless Clay) so I'm taking plenty of time to digest it. So please take what I'm saying with a pinch a salt... My understanding is that we trade the trend of the moment, as stated by Clay in a few occasions, with some attention to the behaviour of HTF. (Post #3 in The Dance thread is a clear example (but there are many others): H1 and D1 heading down yet Clay took a long). On H1 the mas were more or less horizontal and certainly from 1am GMT it had been moving downwards for several hours. D1 is in a downtrend and on what it might look like a retracement. My reasoning was it could at least go for a test of the H1 ms or even the RN below them (like it seems to be heading for at the moment I type). I actually took a 3rd touch (LOL) but only scalped a few pips on what was looking by then like a little congestion, so ignore that.
Did I get it wrong?
  • #13,508
  • Mar 8, 2018 4:20am Mar 8, 2018 4:20am
Quoting 4fxonly
{quote} Hi Guido. Appreciate your reply. I'm only half way in the original Clay's thread, so let alone the other two. I am taking it very easy because I have a super busy life and also because there are so many detailed posts and pictures to analyse with so many explanations (bless Clay) so I'm taking plenty of time to digest it. So please take what I'm saying with a pinch a salt... My understanding is that we trade the trend of the moment, as stated by Clay in a few occasions, with some attention to the behaviour of HTF. (Post #3 in The...
ooh, Iīhave a 14-15 h day-- too busy to trade as I did it the last year.

but sometimes is" here and there" a break, when i scan the market -- and find a nice setup.
You do everything right, when you make more green than red..

But:
as better you get into, as better they pay out.

stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #13,509
  • Mar 8, 2018 7:02am Mar 8, 2018 7:02am
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Risiko birgt immer auch die Chance.
  • #13,510
  • Mar 8, 2018 7:34am Mar 8, 2018 7:34am
Quoting Sesamstrasse
{image} {image}
Well, that was nice!
  • #13,511
  • Edited 11:56am Mar 8, 2018 9:20am | Edited 11:56am
Quoting 4fxonly
{quote} Well, that was nice!
M1 isnīt stable.
But when I see a trend is forming;
the timing is good,
I often try to get in with a bit help of a smaller timeframe.

Sometimes this just don t work.
This week it played out excellent.


stay tuned
Guido
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Risiko birgt immer auch die Chance.
  • #13,512
  • Mar 13, 2018 7:23am Mar 13, 2018 7:23am
Just showing a trade I had today which was closed with an early profit although I meant to trail it... Reason being that sometimes I use an EA to close at a predetermined profit and I forgot it was still on a chart.
Entry was at the RN in confluence with both MAs showing a good angle. Initial stop was just below the H1 34MA, so very small...
Trade would be still going at this moment at +23 with a stop of 14...
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  • #13,513
  • Mar 13, 2018 7:46am Mar 13, 2018 7:46am
Quoting 4fxonly
Just showing a trade I had today which was closed with an early profit although I meant to trail it... Reason being that sometimes I use an EA to close at a predetermined profit and I forgot it was still on a chart. Entry was at the RN in confluence with both MAs showing a good angle. Initial stop was just below the H1 34MA, so very small... Trade would be still going at this moment at +23 with a stop of 14... {image}
Nice trade.

Why don't you place two trades? One to be closed at a TP you choose and other to be followed up until you believe it's the right time?
Best Regards!
  • #13,514
  • Mar 13, 2018 7:52am Mar 13, 2018 7:52am
Quoting Hatzerim
{quote} Nice trade. Why don't you place two trades? One to be closed at a TP you choose and other to be followed up until you believe it's the right time?
It was 2 trades. Both entries and exits match exactly so you can't really see them both on the picture. My intention was exactly as you said (the TP mark for the first half is still visible in the pic), but another EA I had forgotten I had active on another chart closed them both without my intervention. Anyway, the pair has completely changed its course right now, so not many pips missed...
  • #13,515
  • Mar 13, 2018 7:54am Mar 13, 2018 7:54am
Quoting 4fxonly
{quote} It was 2 trades. Both entries and exits match exactly so you can't really see them both on the picture. My intention was exactly as you said, but another EA I had forgotten I had active on another chart closed them both without my intervention. Anyway, the pair has completely changed its course right now, so not many pips missed...
I see. Thanks for your answer.
Best Regards!
  • #13,516
  • Edited 9:58am Mar 13, 2018 9:47am | Edited 9:58am
Took this other long on a 10 touch just below RN. I got a bit distracted and entry was not bang on the touch. Initial stop was about 10 pips (below the previous low). First half is out already and stop is now at b/e. It's challenging the daily 50ma but at this point it's a free ride and I will wait in case it breaks up and target is at the BRN.

EDit: Just changed my mind and moved my TP to today's High. There was a big move earlier on and daily ATR is gone already so I will be happy with a more modest gain (still great )
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  • #13,517
  • Mar 13, 2018 12:43pm Mar 13, 2018 12:43pm
Some times the market hits me, other times I recover.
This entry was exactly at the touch of RN, it went around 12 pips against me before going my way. It gave me +40p at the end. TP was set 10 pips before the next RN.
Attached Image
  • #13,518
  • Mar 13, 2018 2:13pm Mar 13, 2018 2:13pm
Quoting Haydel
Some times the market hits me, other times I recover. This entry was exactly at the touch of RN, it went around 12 pips against me before going my way. It gave me +40p at the end. TP was set 10 pips before the next RN. {image}
Your exit was better.. no doubt.

Guido
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Risiko birgt immer auch die Chance.
  • #13,519
  • Mar 13, 2018 5:09pm Mar 13, 2018 5:09pm
Well guys, I'm chuffed that, as an absolute beginners with this strategy, I managed to pick the same entry as you veterans. Different exit but, by any means, not complaining at all.
  • #13,520
  • Mar 14, 2018 7:38am Mar 14, 2018 7:38am
This was called in the Interactive thread, 4-5 hours ago:

https://www.forexfactory.com/showthr...5#post10870565

Here is the chart:
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