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CHOROS System

  • #14,601
  • Aug 17, 2019 6:28am Aug 17, 2019 6:28am
Quoting Sesamstrasse
{quote} Good morning Steve. Basicly it is a 100% valid setup. And you can see how the price dances with the Ma's. I explain you the difference to a AAA setup. The 35 and the 50 MA's are spreaded (tight together is much better) It s not a first touch (they are safest) I would like to get it at the first touch..! Last but not least. Look at the PA how it reacted with the 10 Ema around 5 candles before. The long wick downwards and constrainiment upwards shows some buyers and I d be careful. Hope that helped a bit. For your first steps well done and...
Thanks! You were right, the market ended up going up because there were quite a few buyers still in.
  • #14,602
  • Aug 21, 2019 2:03am Aug 21, 2019 2:03am
Dax H1 first touch 50 ema.

chickened out +17,..40 pips was possible.
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Risiko birgt immer auch die Chance.
  • #14,603
  • Aug 21, 2019 8:09am Aug 21, 2019 8:09am
Hi Everyone, I hope you are all doing well

i'm trying to settle down with 2 pairs to trade the dance system with and would love some insight into what currency pairs everyone trades and for what reason.
Any response is greatly appreciated!
  • #14,604
  • Aug 21, 2019 10:54am Aug 21, 2019 10:54am
Quoting Forex5151
Hi Everyone, I hope you are all doing well i'm trying to settle down with 2 pairs to trade the dance system with and would love some insight into what currency pairs everyone trades and for what reason. Any response is greatly appreciated!
Hi F5151.

A very welcome.

Everybody of us has his own style and reason for a different instrument.
Some like it more volatile, others more quiet.
After reading the thread properly you´ll be able to spot AAA setups and you´ll have the answer for your questions and many more.

Good luck and trade well.

Guido
Risiko birgt immer auch die Chance.
  • #14,605
  • Aug 23, 2019 12:25pm Aug 23, 2019 12:25pm
hi all,

new to this system. but trying it out on D1. Any reviews on this trade i took today?
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  • #14,606
  • Aug 24, 2019 3:16am Aug 24, 2019 3:16am
Quoting furgz1129
hi all, new to this system. but trying it out on D1. Any reviews on this trade i took today? {image}
Hi furgz.
It is a great start to join this thread and include a chart with a setup.
Very welcome.
Guido
Risiko birgt immer auch die Chance.
  • #14,607
  • Aug 24, 2019 8:27am Aug 24, 2019 8:27am
Quoting Sesamstrasse
{quote} Hi furgz. It is a great start to join this thread and include a chart with a setup. Very welcome. Guido

thanks. guessing i took a fairly good trade
  • #14,608
  • Aug 28, 2019 7:59am Aug 28, 2019 7:59am
Missed out on two good 35 sma 50 ema touch trades today because of being afraid to pull the trigger. 1:4 risk reward on both trades but hesitated at the last minute and let them both slip away. Recently, I've finally realised after a year and a half of switching from system to system that it is not the systems fault that I am stuck at break-even but instead my own emotions which is preventing me from achieving profitability. Hopefully it is a matter of time before I can conquer my emotions and overcome my fear of pulling the trigger
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  • #14,609
  • Edited Aug 31, 2019 6:52am Aug 30, 2019 7:44am | Edited Aug 31, 2019 6:52am
Just missed a textbook entry on UC 4 bars ago.
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  • #14,610
  • Sep 9, 2019 10:17am Sep 9, 2019 10:17am
GU M15 EMA50 touch trade, good entry but exited too early at COB of 2nd M5 green bar, better at M15 close or EMA10 touch(ping pong between EMA10 and EMA50). Good for 30 pips, I got only 8 pips.
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  • #14,611
  • Edited 11:30am Sep 9, 2019 10:23am | Edited 11:30am
Same time GJ trade +20 pips, M15 50 and DR1 bounce, good for 40 pips if hold to 2nd M15 close.
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  • #14,612
  • Sep 12, 2019 11:07am Sep 12, 2019 11:07am
Classic EMA10, first touch....

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  • #14,613
  • Sep 13, 2019 11:34am Sep 13, 2019 11:34am
Textbook 10 EMA touch trade on UC, caught it almost perfectly and currently up +25.

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  • #14,614
  • Sep 17, 2019 1:54am Sep 17, 2019 1:54am
I have been following the dance. It seems to bring rules to a chaotic market. Currently I have traded on a simulator using the 15 minute graph and the 3 ma’s. I have read the manual twice. Please will some one post the current dance template so that I can down load it. Many thanks
  • #14,615
  • Edited 5:41am Sep 28, 2019 5:29am | Edited 5:41am
Hi,

I have been here for a long time, following Choros thread, also participating some time ago, not recently due to lack of time. Now it has changed a bit so maybe I will be putting my few $0.01 here and there again as well as asking some questions. For example, on the most recent orange pinbar from DP:

1) Would you consider this as a valid scoop-up trade or would you always wait for the price to cross the 35/50?
2) Would anything change in your approach if there was no oposite, green pinbar just before?

In theory I have a good understanding of bounce and touch trades. What I am still missing is when actually not to take ones in practice although initially they might seem ok as well as scoops.

Best,
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  • #14,616
  • Edited 12:22pm Sep 29, 2019 4:23am | Edited 12:22pm
Quoting Jkdt
Hi, I have been here for a long time, following Choros thread, also participating some time ago, not recently due to lack of time. Now it has changed a bit so maybe I will be putting my few $0.01 here and there again as well as asking some questions. For example, on the most recent orange pinbar from DP: 1) Would you consider this as a valid scoop-up trade or would you always wait for the price to cross the 35/50? 2) Would anything change in your approach if there was no oposite, green pinbar just before? In theory I have a good understanding of...
.. Hi..
The first 35/50 bounce already appeared the evening before.


At your place the 35 and 50 MA are wide separated.
.. If you include the timing (US session ending) I would t except a high volatility trade and that is exactly what a scoop up is.

So.. For me no trade in this moment because a lack of money in the market AND no clear picture.

Longer wicks in both directions.
Possible range trading in M1 but this is not a part of the strategy.



Hope that helped.

Guido
Risiko birgt immer auch die Chance.
  • #14,617
  • Sep 29, 2019 4:08pm Sep 29, 2019 4:08pm
Thanks Guido, this is exactly what I meant by knowing when not to take the trades. Could you (and of course others!) sum up when do you avoid trading although at first it may seem the basic setup of the strategy is in place?

Example based upon previous post:
- relevant session for a pair coming to an end
- long wicks on both sides (with an extreme form known as the porcupine)

Other known:
- MA Soup / chaotic / ranging
- any of the main pivots / big round numbers just above/below the direction of potential trade
- hyper volatility - because of big news day or for any other reason making the market unpredictable
- hitting daily loss limit / profit target

What about:
- HTF MAs just above/below the direction of potential trade, especially 35/50? Probably depending if flat or angled?
- nice looking setup forming on M15 but the price got stuck between 1hr or 4hr 35/50?
- price failed to make a Lower Low or Higher High just prior to a touch trade setup?
- double/tripple top/bottom against the direction of formed setup?
- S/R level that held up previously should be seen as an obstacle?
- any other?

I'm not sure if you agree but basic Dance/Choros setups are not quantum physics, after some reading and practice they are quite straight forward. But it's the experience and knowledge when NOT to trade although it seems like a setup is forming could be something that will separate profitable from not. This is something that is not in the manuals. If more experienced traders could sum up their observations in one post, then I think it could be a great booster for others' learning curve.

Best,
J.
  • #14,618
  • Edited 11:39am Sep 30, 2019 6:14am | Edited 11:39am
Quoting Jkdt
Thanks Guido, this is exactly what I meant by knowing when not to take the trades. Could you (and of course others!) sum up when do you avoid trading although at first it may seem the basic setup of the strategy is in place? Example based upon previous post: - relevant session for a pair coming to an end - long wicks on both sides (with an extreme form known as the porcupine) Other known: - MA Soup / chaotic / ranging - any of the main pivots / big round numbers just above/below the direction of potential trade - hyper volatility - because of big...

Really?
You need a "don´t list"?

We already have a do list.
keep it simple--

What is so difficult with " first touches are safest"?
what is so difficult with 35/50 tight together?
What........... with steep angle?
What with ........make sure minimum one market is open?
.. do we trade a porcupine....?
...higher TF confirm...
.. confluences ...


I see no reason why someone shouldn t have more winners than losers when he sticks to the simple rules.

Did you use the simulator?
What is the output in pips each month on the simulator with you in a m15 chart?
Use it analytic.
What´s the reason you cannot transfer it to a real account?

Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #14,619
  • Sep 30, 2019 10:23am Sep 30, 2019 10:23am
GU perfect entry good for 30 pips, but I was too greedy and wanted more, exited at +3 pips. It is hard to decide when to tp not enter. Best thing it is a BE trade not a looser(will be if hold longer).
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  • #14,620
  • Edited 2:15pm Sep 30, 2019 2:01pm | Edited 2:15pm
Quoting Sesamstrasse
{quote} Really? You need a "don´t list"? We already have a do list. keep it simple-- What is so difficult with " first touches are safest"? what is so difficult with 35/50 tight together? What........... with steep angle? What with ........make sure minimum one market is open? .. do we trade a porcupine....? ...higher TF confirm... .. confluences ... I see no reason why someone shouldn t have more winners than losers when he sticks to the simple rules. Did you use the simulator? What is the output in pips each month on the simulator with you in...
Throughout this thread you will find tips on when not to trade although a valid setup has just formed - on multiple occasions. Based upon personal preference rather than Dance rules. It could be value adding to have this summed up. No need for impatience, irritation and big fonts. Regardless of your experience on FX or this forum, that's zero value added. From my POV this is still a valid question that I have asked. You dont like my idea - thats perfectly fine by me. Just ignore it and move on.

Best,
J.
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