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CHOROS System

  • #14,821
  • Nov 30, 2019 8:59pm Nov 30, 2019 8:59pm
Hey Guys,
I've been reading and studying "The Dance Manual" and the other documents. I'm picking it up slowly.

Today I noticed something that I had never noticed before.
I had a long Pin Bar at the top of a "hill" on the 15 min. The pin bar showed up on the 1H in the same area. And on the 5 min, there was also a pin bar showing up at the same general area.
Is this a thing? Does it being on multiple time frames give it more strength/relevance?

Also I know there is a term for this....something to do with fractals or Madelbrot's work. Anyone know? Its when you have the same/similar pattern across different time frames.

Comments welcome.
  • #14,822
  • Edited 7:15am Dec 1, 2019 2:52am | Edited 7:15am
Quoting SpreadEagle7
Hey Guys, I've been reading and studying "The Dance Manual" and the other documents. I'm picking it up slowly. Today I noticed something that I had never noticed before. I had a long Pin Bar at the top of a "hill" on the 15 min. The pin bar showed up on the 1H in the same area. And on the 5 min, there was also a pin bar showing up at the same general area. Is this a thing? Does it being on multiple time frames give it more strength/relevance? Also I know there is a term for this....something to do with fractals or Madelbrot's work. Anyone know?...
Sure, it makes the signal stronger but... a pin bar at the top of hill is never a correct signal in this strategy. Actually - to the contrary of this strategy as it would mean you would need to go counter trend based upon such signal. The Dance aims to trade retracements and the signal you mentioned is assuming a very begining of an exhaustion of a current trend which is about to change.

The closest thing in Choros would be to wait for example for another pinbar creating lower high in an uptrend with MAs scooping down. Please read the thread how to correctly identify scoop trades.
  • #14,823
  • Dec 1, 2019 9:15am Dec 1, 2019 9:15am
Quoting SpreadEagle7
Hey Guys, I've been reading and studying "The Dance Manual" and the other documents. I'm picking it up slowly. Today I noticed something that I had never noticed before. I had a long Pin Bar at the top of a "hill" on the 15 min. The pin bar showed up on the 1H in the same area. And on the 5 min, there was also a pin bar showing up at the same general area. Is this a thing? Does it being on multiple time frames give it more strength/relevance? Also I know there is a term for this....something to do with fractals or Madelbrot's work. Anyone know?...
Spreadeagle...focus on touch trades for the beggining...the rest will come automatically
You are allowed to fall but you are imposed to get up!
  • #14,824
  • Dec 1, 2019 12:07pm Dec 1, 2019 12:07pm
Quoting iero4
{quote} Spreadeagle...focus on touch trades for the beggining...the rest will come automatically
Of course. This was just an observation.
  • #14,825
  • Dec 3, 2019 2:30am Dec 3, 2019 2:30am
I can’t stress enough the importance of using the simulator sped up 15-30 times to build confidence, pattern recognition and sub-conscious learning. Using the simulator now on a daily basis for 1 hour.
  • #14,826
  • Dec 3, 2019 1:25pm Dec 3, 2019 1:25pm
Although simulator is very useful in observing the reactions with MAs, without multi timeframe analysis which it lacks, it has to be treated with a pinch of salt. No statistical data on long series of trades is valid. There are MANY trades that seem good signals on M15 but in fact are a disaster waiting to happen on HTF. And there is no way to effectively observe this on simulator.

However, you could open 2-3 smaller windows with historical 1H, 4H and Daily, rewind them without peaking into an apropriate moment in the history so that the period tested in the simulator is in front on them and then everytime the simulator completes 1H in M15 press F12 on 1H to skip one bar forward. Same for 4H and daily. That's the only way so squize some more reality from the tester. Sorry, but I can't be bothered.
  • #14,827
  • Dec 4, 2019 2:37pm Dec 4, 2019 2:37pm
Tonny, that's what i wrote in my first sentence of the post. However, you need to be aware how to aproach it. Otherwise you will have wrong impression of this method not working in situations where it actually works just fine. HTF MAs should be part of any good dance template, simulator or not. But you won't see the full picture by that. Your idea of this external software sounds like the best solution. However, can you also easily set up pivots & RNs?
  • #14,828
  • Dec 4, 2019 3:45pm Dec 4, 2019 3:45pm
Quoting tonny47
{quote} you can apply your usual indicators. you can save down template with all your MAs (I have it including pivot point and RNs). i open charts in timeframes i desire as described in the website in the simulator, and then i open template - it has it all as if I was trading live. pretty neat
And I thought we share our stuff for free in this thread.
Risiko birgt immer auch die Chance.
  • #14,829
  • Edited 4:46pm Dec 4, 2019 4:33pm | Edited 4:46pm
Quoting Sesamstrasse
{quote} And I thought we share our stuff for free in this thread.
you don't need to buy anything, it is free as described. templates are your usual MT4 templates available for free or you can create one

Edit: ah ok, i see what you mean. not my link but either way, removing the post before people start reading too much into it.
  • #14,830
  • Dec 5, 2019 2:39am Dec 5, 2019 2:39am
Lets keep the thread live and in topic with some trades and examples...

It wasn't one of my best entries but it seems to be a nice trade...
Attached Image (click to enlarge)
Click to Enlarge Name: CHOROS2.jpg Size: 244 KB
You are allowed to fall but you are imposed to get up!
  • #14,831
  • Dec 5, 2019 12:41pm Dec 5, 2019 12:41pm
Quoting iero4
Lets keep the thread live and in topic with some trades and examples... It wasn't one of my best entries but it seems to be a nice trade... {image}
Nice trade. I could consider such entry myself. Although this long wick on H1 just below the R1 on my way to TP would make me shaky Did you make it to it?

Seems like this is real account?
Also, isn't there something wrong with your pivot indicator? Doesn't it show different DP and R1 levels on M15 and H1?
  • #14,832
  • Dec 5, 2019 3:39pm Dec 5, 2019 3:39pm
Quoting iero4
Lets keep the thread live and in topic with some trades and examples... It wasn't one of my best entries but it seems to be a nice trade... {image}
And reason for taking the trade is...?
  • #14,833
  • Dec 6, 2019 12:27am Dec 6, 2019 12:27am
Reason was 1st touch if 10 ma
  • #14,834
  • Dec 6, 2019 1:01am Dec 6, 2019 1:01am
Quoting Jkdt
{quote} Nice trade. I could consider such entry myself. Although this long wick on H1 just below the R1 on my way to TP would make me shaky Did you make it to it? Seems like this is real account? Also, isn't there something wrong with your pivot indicator? Doesn't it show different DP and R1 levels on M15 and H1?
It hesitated a little bit so I took only 13.5 pips from this

The pivot was "stuck" in M15 chart and I don't know why

I have contacted my broker and waiting for their reply.
You are allowed to fall but you are imposed to get up!
  • #14,835
  • Dec 6, 2019 1:02am Dec 6, 2019 1:02am
Quoting Gragab
Reason was 1st touch if 10 ma
There are more reasons as there is confluence in M15/H1 and M5
You are allowed to fall but you are imposed to get up!
  • #14,836
  • Dec 6, 2019 1:08am Dec 6, 2019 1:08am
Seems like this is real account?
I am currently changing broker and playing with their DEMO...I take every trade in my real account and in DEMO at same time for the next few days...
You are allowed to fall but you are imposed to get up!
  • #14,837
  • Dec 6, 2019 3:07am Dec 6, 2019 3:07am
Hello Everyone,
Thank you so much for this thread, I've been reading this thread quietly since last few months and I've learnt so much from here. I've decided to fund my live account and trade using the same principles that kostas used when he started becoming profitable. I'll either gain or lose 3-5%, which will be adjusted to represent 30 pips, of my account daily and once i have either gained or lost 30 pips i'll stop trading for the day. I'll be trading GBPUSD only for now and will keep you guys posted on my progress.

Things i need to control are:
1: Over Trading
2: Trying to jump in on a trade without confirmation on smaller time frames, i'm not very experienced with touch trades yet this is why i like to confirm every trade on smaller time frame. I'll be avoiding touch trades for now but overtime i might be able to have good understanding of them as well.
3: Moving my stoploss, 90% of the times trades don't require more than 11 pip SL on GU.
4: Counter Trend trading, this is something i'm struggling with the most. If market has moved 40-50 pips in one good push, i automatically assume that it won't continue in same direction after rejection from m15 10ema or 35/50MAs, so i start looking for trades in other direction. Even though it is first rule of dance that always trade in direction of trend.

Here is my first trade for today.
GBPUSD
m15 and m5 --- 50 EMA Touch
H1 --- 10 EMA Touch
Target is H1 35 SMA




Update Closed with +12 at DP
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot5.png Size: 619 KB
  • #14,838
  • Dec 6, 2019 7:55am Dec 6, 2019 7:55am
[quote=haris1211;12650363] 3:90% of the times trades don't require more than 11 pip SL on GU.



I wish you all the best my friend
You are allowed to fall but you are imposed to get up!
  • #14,839
  • Dec 6, 2019 1:23pm Dec 6, 2019 1:23pm
[quote=iero4;12650874]
Quoting haris1211
3:90% of the times trades don't require more than 11 pip SL on GU. I wish you all the best my friend
Thank You
Today was an easy day, i was able to make my 30 pip quota. I wish all the days are as easy as today
  • #14,840
  • Dec 6, 2019 1:57pm Dec 6, 2019 1:57pm
[quote=haris1211;12651564]
Quoting iero4
{quote} Thank You Today was an easy day, i was able to make my 30 pip quota. I wish all the days are as easy as today
There will be days that you will struggle to find a proper trade. In these days you will need clear mind to stay away. It is like you have your business...it is not everyday the same...some days you have many customers and some days you don't. And actually you don't need 30 pips per day. Just 10-15 pips + spread...do your maths with account confounding and tell me what the result will be in a year
You are allowed to fall but you are imposed to get up!
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