CHOROS System

Flat MAs, No trade area.

Thanks Larry. This is what they looked like at the time I took the trade (degree at around 20) at what point would you consider it not being flat?
I see a lot some examples in the manual with MA being less steep than here, so thats why Im wondering..

My friend...What were H1 and H4 telling you?

H1 was pointing down nicely and holding the 10 EMA (first picture), but yeah on 4H I see an issue Thanks

I am by far not an expert in constrainments but if I was about to take one I'd rather see 3 things I just could not see in your chart:

- shorter bars, like at least by half
- constraining MA at least slightly curved into the direction of the trade
- all constrained bars closing on the side of the trade of the MA (in this case below) and you took your trade right after the bar closed just above.

Remember that I still learn constrainments myself.

GU M15 EMA50 1st retrace and bounce, confluence with DR2 and RN. +15p

AUDJPY trade from last night. Entered at the close of the 4hr candle circled (35/50 ma touch)

Just entered GBPCAD
- Major round number
- pinbar at round number and 10 ema confluence

Are you taking signals from H4 without confluence from other TFs????

- What were M15/H1 like when you entered? In H4 chart, one candle retrace can be even more than 30 pips against you!
- Was it the first or second 10EMA touch? (I think it was the 10th)...

My friend, if you want my poor opinion...use very small lot size

Good luck!

Iero 4 what are the 5 main lessons you have learnt using Choros over the last few years? What did you change in order to become profitable?

Actually it is not few years...and it is very big question to answer...I use this strategy since 2012!!! During these years I have destroyed several accounts

I had to change the way I was thinking and I actually learned more than 5 lessons:

1)I learned to be patient...
2)I learned not to be greedy...
3)I learned to follow the rules...
4)I learned to treat FOREX as a business...
5)I learned not to give up...
6)I learned to trade for myself and not for taking congratulations from other traders...thats why I dont write often here...I would like to help some times though as others helped me during all these years!

I hope I was clear...

Thank you. Sounds like a journey of self discovery.

UK100 - 15 min chart. This trade in inspired by the 'counter trend', now I'm writing inspired as I'm not sure it meets all the 'rules' of that trade
We have a huge move to the upside far away from 35/50 MA's and start seeing small exhaustion bars, and I entered once I saw the 10 EMA turning with pin to the upside as confluence..
Closed at +23 pips (had my TP set as I was not infront of the screen)

This was my 1st trade for today. TP hit...

I often ask people what would they do if they can do anything? Most people can’t answer this question because most people don’t know, most people don’t know themselves.
From a young age all that was important to me was being content and as a result I always chose to do what I liked and enjoyed. As a result this led to patience, which led to pesistence, which led to perseverance which led to success and the final outcome money. Money was never the main goal or the main reward but an outcome of choosing what felt right. To be successful one needs a belief, a plan and a large amount of discipline and the doing part.
I was always interested in long term investing, however I always believed that day trading was a fools game. How wrong I have been. What brought me to this system was Rays wise words about his journey and his life. I could relate in many ways with his intense wisdom because I have traveled a similar road.
Ray provides the map, every person has to develop their own road of getting there. From keeping a trading journal the system gives everyone what they are willing to take from it.
I have had a high success rate on a demo account after putting in 25 hours of trading during the week on 20 trades a day across 4 pair. As well as 5 hours of simulator time on the weekends.
I am at the beginning of my journey and I love it.
I thank Ray for his wisdom and kindness of sharing something which was his, and to the Choros thread and the kindness of people’s Positive input.

20 trades per day? Not really my business but sounds like overtrading. Besides you seem to like to write but barely post any charts. It would be great to see some oposite proportions.

Best,
JK.

Yes I am overtrading, but at the same time I am learning and having fun. I am learning about the 4 pairs, and which suits my personality best. I am learning about decision making in terms of the Choros system.

Agree, please post charts... lot's of talks about trades, but never seen any charts.

DE30 - 15 min chart. Trade from yesterday, 10 EMA touch +48 points.. very simple trade

Hi Guys,
I just started using this system and I'm impressed. I went back to the original Dance posts and started there using the 35-SMA and the 50,10 and 5-EMA's. It works pretty well and its like other trend following systems I have seen before.

The part I find the hardest are those hard and fast rules and the way the market moves while you trade it. The rules say that you can count breaks/bounces off the 10 EMA or the 35-SMA but only if they are lined up correctly. It also talks about the round number levels; that is really good and I have been seeing that they make good S/R levels.

Couple of struggles for me, if you can help, chime in....
1. How do you wait for the "perfect" signal? A bounce off the 35-SMA, a break in a round number level and the correct price action candles; how do you find these?
Also, does it have to be that perfect? I tend to jump in whenever I see the SMA and EMAs lining up correctly and there is a definite trend and a bounce or a break out.
Anyone have some solution?
2. How can you watch all those pairs simultaneously?
I know they say "no oscillators" but I use a currency strength meter that can be used to give clues which pairs are converging and which are diverging.
3. Has anyone come up with a really good alert system for this? For example, it warns you when a cross or bounce occurs and can give you good trade setups.
Anyone have a good scan/screener?

That's enough. If you have an opinion on this system, please share also. I like it and I think it has potential.
--SE71