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CHOROS System

  • #15,081
  • Edited 7:41am Mar 5, 2020 7:13am | Edited 7:41am
Hi guys,

I took the cross and retest of EURGBP in M15. I have open TP so I will close the position either at DAILY PIVOT or at the round number above (depends how price will act when it reaches the DP.

EDIT: Didn't go as I expected because H1 35/50 hold very well so I exited at +5
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You are allowed to fall but you are imposed to get up!
  • #15,082
  • Mar 5, 2020 11:46am Mar 5, 2020 11:46am
again nice 35/50 trade with GC:
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trading is like dancing, don't think and just listen to the music!
  • #15,083
  • Mar 5, 2020 2:59pm Mar 5, 2020 2:59pm
Late touch
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MTN
  • #15,084
  • Mar 5, 2020 4:20pm Mar 5, 2020 4:20pm
Quoting Haydel
{quote} I'm already in the trade and with some small profit. It will retrace again so I'm not moving to BE yet. Right now my two options for this trade are a loss of around 50 pips or a win of around 100 pips targeting D1 10EMA. It can take a couple of days to hit TP. Patience. In the meanwhile Choros Setups to Short in Smaller Time Frames could be nice for a few 5 to 10 pips trades or to add more shorts. We'll see.
At the end this was a 50 pip loss
  • #15,085
  • Mar 6, 2020 2:41am Mar 6, 2020 2:41am
my trade today with EU:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 58 KB
trading is like dancing, don't think and just listen to the music!
  • #15,086
  • Mar 7, 2020 1:11am Mar 7, 2020 1:11am
Quoting Haydel
{quote} At the end this was a 50 pip loss
Haydel losers are part of the game. But I think you don't need to hunt so big moves
You are allowed to fall but you are imposed to get up!
  • #15,087
  • Mar 8, 2020 5:39am Mar 8, 2020 5:39am
I have been looking at the eo haters webs site, Kenneth Lee site. There’s an abundance of information and so many different views to trading. Too much information creates an overload. Stick to one technique, in our scenario the dance, practice and over the long term all of us who are consistent and those who stay the course will be rewarded.
  • #15,088
  • Mar 8, 2020 6:19am Mar 8, 2020 6:19am
Quoting Gragab
I have been looking at the eo haters webs site, Kenneth Lee site. There’s an abundance of information and so many different views to trading. Too much information creates an overload. Stick to one technique, in our scenario the dance, practice and over the long term all of us who are consistent and those who stay the course will be rewarded.
I have done the same last week. My weak mind keeps telling me there is something better, that trading must be complicated or else it won't work. It is the poor man inside my head .

My noob opinion for this last week of intense reading is that the dance has it all, supply and demand, support and resistance, price action and others.
MTN
  • #15,089
  • Mar 8, 2020 6:31am Mar 8, 2020 6:31am
Hey everyone,

since this thread is also about giving, I want to share something I noticed while trading in the simulator. I am now taking advantage of this pretty often and it's good for quit some pips.

I noticed that the H1 MA's are pretty strong especially in 2 situations:

  1. When P/A is moving through MA's often and it seems hard to find Dance trades. If the H1 MA's show a trend in these situations, they often seem to be the "go To" since price can't really decide which way to go on M15. However the H1 MA's are reliable to act as kind of a bottom for P/A. (left circle)
  2. When a bigger revearsel is about to appear (right circle on the chart). In this case P/A wasn't able to get near the top a little bit to the left. Then there was a big move down intraday (with nice EMA10 constrainment). However it wasn't able to break the last low marked to the left with the 3 arrows. In a situation like this, I noticed that P/A often retests the H1 MA's. In this specific case there was also confluence with M15 MA's which made the trade especially powerful.

I also marked some other areas, where the H1 MA's act as good Entry points for trades in the direction of the H1 trend. Now that said, you also have to be careful some times because sometimes entering a trade like this is counter trend against the M15 trend. This is especially true in the middle of the chart with the 3 arrows. However as noted in the box in the chart, the higher highs of the second and third touch signal a continuation of the upwards trend and therefore could have been used as an entry although strongly counter trend.

Maybe this is no news to you. At least for me it elevated my trading with the Dance to a new level because it enables me to catch some bigger moves :-)

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  • #15,090
  • Mar 8, 2020 6:33am Mar 8, 2020 6:33am
The dance has it all, in all it’s simplicity. Keep at it Marcelmtn.
  • #15,091
  • Mar 8, 2020 8:02am Mar 8, 2020 8:02am
Quoting Marcelomtn
{quote} I have done the same last week. My weak mind keeps telling me there is something better, that trading must be complicated or else it won't work. It is the poor man inside my head . My noob opinion for this last week of intense reading is that the dance has it all, supply and demand, support and resistance, price action and others.
Why so overcomplicated?
Learn walk before you start running.

Use the simplest part of it first.. First touches, steep angled.AAA setups
Build your account and learn step by step the market moves.
Later, when you already gained some experience come with advanced Choros trades additional to first touches.

Happy weekend
Guido
Risiko birgt immer auch die Chance.
  • #15,092
  • Mar 9, 2020 8:58am Mar 9, 2020 8:58am
my trade today short GJ:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 53 KB
trading is like dancing, don't think and just listen to the music!
  • #15,093
  • Mar 9, 2020 10:31am Mar 9, 2020 10:31am
Quoting birdland
my trade today short GJ: {image}
Took almost the same...GJ very scary today
You are allowed to fall but you are imposed to get up!
  • #15,094
  • Mar 10, 2020 2:09am Mar 10, 2020 2:09am
GU confluence of M15 10EMA, M5 10EMA, H1 50EMA (cross & retest) and H4 10EMA. +19.5 pips

Guys take care as these days are very tricky so better safe than sorry.
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You are allowed to fall but you are imposed to get up!
  • #15,095
  • Mar 10, 2020 3:35am Mar 10, 2020 3:35am
Took the same trade at the initial cross and retest of ma50 on the H1. Well done. Similar set up presented on eurusd
  • #15,096
  • Mar 11, 2020 8:24am Mar 11, 2020 8:24am
Why is it that so many start and so few continue?
  • #15,097
  • Mar 11, 2020 8:34am Mar 11, 2020 8:34am
Quoting Gragab
Why is it that so many start and so few continue?
My newborn is in hospital, nothing serious, but that is my reason for disappearing these days. Although I did place some orders yesterday while he was sleeping , but on a cellphone
MTN
  • #15,098
  • Mar 11, 2020 8:43am Mar 11, 2020 8:43am
Quoting Gragab
Why is it that so many start and so few continue?
With what exactly? Do you mean with trading ing in general or the dance/choros?
  • #15,099
  • Mar 11, 2020 8:45am Mar 11, 2020 8:45am
Quoting Gragab
Why is it that so many start and so few continue?
because there is so much distraction and so many other good systems.
trading is like dancing, don't think and just listen to the music!
  • #15,100
  • Mar 12, 2020 7:35am Mar 12, 2020 7:35am
my trade today short GCH:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFM15.png Size: 52 KB
trading is like dancing, don't think and just listen to the music!
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