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CHOROS System

  • #14,841
  • Dec 8, 2019 1:58am Dec 8, 2019 1:58am
Hi Harris. That was a good trade. You also could have entered at your sl point on rejection of the 1 hour candle of the wicks. The sl could have been move higher to the Rn. Wicks are used as entry and exit points. That was a faultless trade, well done.
  • #14,842
  • Edited 4:33pm Dec 9, 2019 4:49am | Edited 4:33pm
Took GBPUSD Long position
15m 35 bounce
1h 10 bounce
I'll exit the trade if price fails at last high

Update: I messed up on this one, decided to hold it while I should have exited upon rejection from top, ended this trade with a -7 pip loss, it gave me two chances to exit at +14 but i was too convinced that it would go up and touch R2.
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  • #14,843
  • Dec 9, 2019 4:52am Dec 9, 2019 4:52am
Quoting Gragab
Hi Harris. That was a good trade. You also could have entered at your sl point on rejection of the 1 hour candle of the wicks. The sl could have been move higher to the Rn. Wicks are used as entry and exit points. That was a faultless trade, well done.
Thank you for your feedback, please keep commenting on trades i have a lot to learn from other experienced members of this thread.
And yes i did take that short position from there was also confluence of Daily Pivot, RN, h1 and m15 MA, so it was pretty strong trade.
  • #14,844
  • Edited 4:33pm Dec 9, 2019 5:12am | Edited 4:33pm
Eurjpy Scoop up entry the main reason for entry is because the price reject 120.00 4 times. My target is h4 10 EMA.

Update: Got +11 From this one and then took short position from h1 35 MA and got another +14 pips.
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  • #14,845
  • Edited 4:35pm Dec 9, 2019 8:36am | Edited 4:35pm
GBPUSD Scoop down, expecting the price to reach DP atleast. Price will go 30-40 pips down from here, but this assumption is made based on a different strategy that has nothing to do with dance, i might hold GBPUSD until support 1. According to dance the target should be h1 35Ma or Daily pivot.

Update: Took +8 pips from this one and finished my day with +23 pips, i messed up couple of times otherwise it would have been an easy 30 pips today. I'll be more quick to grab my pips from now on. I just need 3-4 good setups to achieve my daily quota.
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  • #14,846
  • Edited 11:21am Dec 10, 2019 2:41am | Edited 11:21am
GBPUSD Short entry on confluence of
h1 35/50 Bounce
m15 35/5 Bounce
Daily Pivot And RN

Update: Stopped out -16
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  • #14,847
  • Dec 10, 2019 3:04am Dec 10, 2019 3:04am
Quoting haris1211
GBPUSD Short entry on confluence of h1 35/50 Bounce m15 35/5 Bounce Daily Pivot And RN {image}
Flat Ma's.

There is no trade.
This is really basic stuff.
Guido
Risiko birgt immer auch die Chance.
  • #14,848
  • Edited 11:22am Dec 10, 2019 3:46am | Edited 11:22am
Quoting Sesamstrasse
{quote} Flat Ma's. There is no trade. This is really basic stuff. Guido
I've seen kostas taking these types of trades several times, he says if there is strong confluence these type of trades are good for 10-15 pip. I never take Flats MA's unless there is very strong confluence.
I took the same trade to long side and it is giving me 10 pips now.

Update: +18 if i was more patient i could have easily got more than 30 pips.
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  • #14,849
  • Dec 10, 2019 5:34am Dec 10, 2019 5:34am
Not worth risking for small gains. Better to wait for better set ups with less risk and better rewards. This is why patients is so important.
  • #14,850
  • Dec 10, 2019 7:53am Dec 10, 2019 7:53am
Quoting Gragab
Not worth risking for small gains. Better to wait for better set ups with less risk and better rewards. This is why patients is so important.
Thanks for your feedback, i guess i need to work more on my patience and only take AAA setups. Its still a long journey for me, i'll be learning a lot for experienced people on this thread. And i have another goal of keeping this thread alive, i've noticed many experienced people who used to post daily have stopped posting.

Looking at constrainment on GBPUSD 15m 10 EMA with a confluence of Daily R1, i guess its worth taking a long position.
  • #14,851
  • Dec 10, 2019 8:03am Dec 10, 2019 8:03am
All beginnings are hard, but one step at a time. One good trade is all that is needed daily. Try to be consistent and understand why you would enter a given trade.
  • #14,852
  • Dec 10, 2019 9:29am Dec 10, 2019 9:29am
This system might work better for trading stock options, particularly SPY options which have a good liquidity. The problem I have found with Forex is that it is highly leveraged and stop loss hunting is a big factor. So we see titanic swings and then periods where nothing is happening. Its kinda schizophrenic, to be honest.

I'm not dogging forex, its just the nature of these markets. I'm sure you've seen this. For example, right before the London Open or sometimes at the open, you get these huge spikes in either direction and sometimes fakeouts. To me, these represent opportunity to trade them but...they are not really consistent.
Applying a 35-sma pullback may not work.They may run up so fast that the 5/10 ema's will lag and then pull back until its well beyond your stop loss.

With the stock market, especially with SPY, I think you get a more consistent market which can also be volatile but can also trend much easier. And since this is a 'trend following system', it will probably work better.

These are just my observations. I am not saying that you can't make money in forex. I'm just giving my opinion. I've been trying out the Dance/Choros system for the last month and it has not provided me with consistency. There are alot of false breaks. And so there are small losses. I'm sure that you have seen these too. Its not the price action signals. Its more likely that the markets are being manipulated and stop hunting is in.

Once again, just my opinion. Please don't flame me if you disagree.
  • #14,853
  • Dec 10, 2019 11:19am Dec 10, 2019 11:19am
Quoting SpreadEagle7
I'm just giving my opinion. I've been trying out the Dance/Choros system for the last month and it has not provided me with consistency. There are alot of false breaks. And so there are small losses. I'm sure that you have seen these too. Its not the price action signals. Its more likely that the markets are being manipulated and stop hunting is in. Once again, just my opinion. Please don't flame me if you disagree.
I've been in your shoe when i started trading dance, i came across this thread around November last year and i read clays manual and started testing it right away on a real account and lost money. After losing some money i moved on to a different systems lost money on them too but in my head i knew these moving averages have something magical about them, even though i stopped trading dance but i was never able to drop 35 MA from my charts because price most of the times reverse or bounce from it. Then after losing money on some other systems i finally decided to give dance another shot and read everything in the manual and some of the important posts on thread again and opened a demo account. Within 2-2.5 month i was able to grow that account to about 400% but once I switched to real account i lost money again. After all that i was sure this system does work but i just didn't know how to make it work for myself so i decided to read the whole thread, this is where i found most of the answers and it took me another 6 months of studying and testing everything till i get the grasp of what this is actually about. I'm not sure how kostas made it work for himself in few days and became profitable from day one of dancing, for all the other people i think it'll requires 6 months of forward testing and a lot of simulation until you can get an eye of which trades to take and which to avoid. And i recommend every newbie to read the whole thread it includes every answer to every possible question you can have about this strategy.
With practice and enough screen time you'll be able to use these market manipulations and fake-outs to your advantage.
  • #14,854
  • Dec 11, 2019 6:59am Dec 11, 2019 6:59am
Bounce of h1 35/50 MA with confluence of h4 10 EMA bounce and RN. Its also a scoop down on m15.
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  • #14,855
  • Dec 11, 2019 7:38am Dec 11, 2019 7:38am
Not sure what the outcome of the trade was, but the 35 and 50 are wide and flat, therefore no trade. There is no clear trend, it’s a buy and hope.
  • #14,856
  • Dec 11, 2019 7:44am Dec 11, 2019 7:44am
Quoting Gragab
Not sure what the outcome of the trade was, but the 35 and 50 are wide and flat, therefore no trade. There is no clear trend, it’s a buy and hope.
It didn't work took me out with 15 pip SL. Now i just have 1 more SL to work with. Lets see if i can get a nice pullback to go long. I never should have traded against h4 trend, that was a mistake.
  • #14,857
  • Edited 4:00am Dec 12, 2019 1:17am | Edited 4:00am
Yesterday i got out of market with -6 pips total, it was my first negative day since i started last week, i was able to complete my 30
pips goal every single day.
Took this long position on GBPUSD on bounce of 35 SMA on m15 with the confluence of h1 10 EMA. I'm not very confident in this setup i like to take trades with confluence of atleast 3 factors, so i'll try to exit early and wait for a better setup.

Update:
As i mentioned i was looking to exit this trade early so i closed my postion at 10 pips and price reversed from there and went down to test h1 35/50Mas. This is where i would like to take long entries with confluence of daily pivot but kostas suggested we should not trade in this time of year, so i'll stop now.
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  • #14,858
  • Dec 12, 2019 2:59am Dec 12, 2019 2:59am
Quoting haris1211
Yesterday i got out of market with -6 pips total, it was my first negative day since i started last week, i was able to complete my 30 pips goal every single day. {image}
These are great results for a DECEMBER week...
After December 10 the forex markets are dead or unstable.
I would stop trading for this year, wait out the GB elections and start trading again in the second week of January.
  • #14,859
  • Dec 12, 2019 3:40am Dec 12, 2019 3:40am
Harris focus on watching price movement around the ma’s on the 15 minute graph. Use the simulator. Watch what the mas do and what they tell you.
  • #14,860
  • Dec 12, 2019 3:57am Dec 12, 2019 3:57am
Quoting kostas1
{quote} These are great results for a DECEMBER week... After December 10 the forex markets are dead or unstable. I would stop trading for this year, wait out the GB elections and start trading again in the second week of January.
Thank you so much for the advice, i really appreciate what you have done for this thread and you are still helping out beginners like me. I'll listen to your advice and stop trading on real account for this year. I was already in a GBPUSD scoop down entry before i read your post, i'll close it and this will conclude my day with +23 pips.
You are my motivation Kostas1
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