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CHOROS System

  • #14,621
  • Oct 1, 2019 12:46pm Oct 1, 2019 12:46pm
Quoting larryw
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). {image}
Nice entry. But this setup with long wicked bar at the very top after your entry screams to close the trade. Placing a stop just below it also didnt seem like a bad option.
  • #14,622
  • Oct 1, 2019 3:04pm Oct 1, 2019 3:04pm
Quoting Jkdt
{quote} Nice entry. But this setup with long wicked bar at the very top after your entry screams to close the trade. Placing a stop just below it also didnt seem like a bad option.
Yes, you are right, that way I can book 15+ pips profit. But, it might stop out 4 bars earlier with 6 pips if one bar trailing stop is used.
  • #14,623
  • Oct 2, 2019 1:40am Oct 2, 2019 1:40am
Quoting larryw
{quote} Yes, you are right, that way I can book 15+ pips profit. But, it might stop out 4 bars earlier with 6 pips if one bar trailing stop is used.
In my experience, I couldn't make trailing stops work with Choros.
Most times the market will take them out and continue, or reverse.
What works most times is to take the profit at 15-20 pips. If you feel that you missed an opportunity to squeeze for more, then take profit for most of your lot and leave a small part to run.
Read through the thread for more on the subject of TP.
  • #14,624
  • Oct 2, 2019 2:44am Oct 2, 2019 2:44am
Quoting kostas1
{quote} In my experience, I couldn't make trailing stops work with Choros. Most times the market will take them out and continue, or reverse. What works most times is to take the profit at 15-20 pips. If you feel that you missed an opportunity to squeeze for more, then take profit for most of your lot and leave a small part to run. Read through the thread for more on the subject of TP.
I remember Kostas you used to trade without stop loss? Do you still do? Did that mean you are not using stop loss formally as a tool but close manually if the trade goes against you certain amount of pips?

Best,
J.
  • #14,625
  • Oct 2, 2019 2:51am Oct 2, 2019 2:51am
Quoting larryw
{quote} Yes, you are right, that way I can book 15+ pips profit. But, it might stop out 4 bars earlier with 6 pips if one bar trailing stop is used.
Technically yes, but I wouldn't trail until the trade developed about min. 10 and max 15 pips, which would have seemed to work this time. But Kostas is right anyway, this trailing doesn not seem to be optimal anyway.
  • #14,626
  • Oct 2, 2019 3:00am Oct 2, 2019 3:00am
Quoting Jkdt
{quote} I remember Kostas you used to trade without stop loss? Do you still do? Did that mean you are not using stop loss formally as a tool but close manually if the trade goes against you certain amount of pips? Best, J.
FAKE news !!
I use SL but depending on the conditions (pair, time, noise, etc.) I may close the trade before it is hit....
  • #14,627
  • Oct 2, 2019 3:11am Oct 2, 2019 3:11am
Quoting kostas1
{quote} FAKE news !! I use SL but depending on the conditions (pair, time, noise, etc.) I may close the trade before it is hit....
Please give me some time and hopefuly I will find your post that I was referring to ;-)
From my experience it is optimal to use 16 pips for touch trades and about 10-12 for constrainments and bounce trades with small pins involved.
  • #14,628
  • Oct 2, 2019 7:42am Oct 2, 2019 7:42am
Quoting Jkdt
{quote} Please give me some time and hopefuly I will find your post that I was referring to ;-) From my experience it is optimal to use 16 pips for touch trades and about 10-12 for constrainments and bounce trades with small pins involved.
You are right. I must have confused not using SL with not using "move SL to BE" and also the fact that mostly you close your trades manually.
  • #14,629
  • Oct 3, 2019 2:16am Oct 3, 2019 2:16am
If the 1 hour and 4 hour charts give conflicting information is it then better to not take the trade off the 15 minute?
  • #14,630
  • Oct 3, 2019 2:38am Oct 3, 2019 2:38am
At the moment selling the GU at 1.2290. All the charts point in the same direction.(9.38 South African time)
  • #14,631
  • Oct 3, 2019 4:30am Oct 3, 2019 4:30am
Waiting for the bounce off the 10 on the 15 minute chart for Eurusd 1.09600 level. Everything looks right.
  • #14,632
  • Oct 4, 2019 9:25am Oct 4, 2019 9:25am
Quoting Gragab
If the 1 hour and 4 hour charts give conflicting information is it then better to not take the trade off the 15 minute?
Yes, higher time frames have more power than lower time frames. If there are higher time frame MAs before your target, don't take the trade or take quick profit. On the contrary, you can take higher time trades against lower time frame.
  • #14,633
  • Oct 4, 2019 6:26pm Oct 4, 2019 6:26pm
Thanks for the feedback. I beleive there was a trade there because had I set my SL where I say I should then I would have bagged 20 pips.
Was it against the rules? Almost certainly now that I look at it. I think I may still have to much of another system in my head at this stage. That trade was straight out of EOhaters thread, where 20 pips was an almost perfect trade.
Don't get me wrong, I would have been happy with 20pips, but I WANT, I MUST get back to..... I was going to say basics, but I realise that I dont even have that at this stage.
I just read this from Clays thread and have taken the liberty of posting it here. I'll try and 'quote' it but I tend to lose most of the message when I do that.
*edit*
The quote thing didnt work, it cut most of the message. This was a message from Earret: http://www.forexfactory.com/showpost...&postcount=479
  • #14,634
  • Oct 5, 2019 12:43am Oct 5, 2019 12:43am
It’s not often that people give there knowledge and time openly and freely. I have been following the dance and I want to thank everyone for being so open and supportive in their advise. Successful people always want to uplift and better the next, so thank you again for this knowledge of information.
  • #14,635
  • Oct 9, 2019 2:22pm Oct 9, 2019 2:22pm
İ dont understand two bars rule. İ need visual example. Can you explain for me mates thx a lot
  • #14,636
  • Oct 9, 2019 3:02pm Oct 9, 2019 3:02pm
Quoting alper0636
İ dont understand two bars rule. İ need visual example. Can you explain for me mates thx a lot
Hi alper.
The two bar rule means two bars retracing to a Ema touch in a trend..
Two red bars in a long setup/two green in a short setup to get there.
Risiko birgt immer auch die Chance.
  • #14,637
  • Oct 11, 2019 4:40am Oct 11, 2019 4:40am
Anyone took that beautie on DAX today? M15 10 touch @1.2221. Perfect long where even trailing SL by the rules would work 100%.

GU going completely nuts since yesterday.
  • #14,638
  • Oct 11, 2019 7:14am Oct 11, 2019 7:14am
I took the M5 entry of 10 ema touch at 12268. picture perfect trade. Didn't trail stops and got out for 30 pips.
  • #14,639
  • Oct 11, 2019 8:20am Oct 11, 2019 8:20am
GU +39 pips, M15 10 2nd touch, it may break day high, but I am not that greedy, out after a 30 pips bar.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1011.png Size: 29 KB
  • #14,640
  • Oct 11, 2019 8:34am Oct 11, 2019 8:34am
Heads up for next week, check GBPUSD on the weekly chart and look where it is at. Could be potential for a massive short
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