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CHOROS System

  • #15,141
  • Mar 22, 2020 12:41am Mar 22, 2020 12:41am
[quote=vinicio;12828452]
Quoting Akhaldanos
Hi Akhaldanos. Thank you for sharing. Could you post an example? Vinicio
Sure,

Attached Image


This was Friday on GU M15 that I actually traded:

 

  1. First Touch - checked. It was the first come back to the 35/50 after the morning thrust up crossing the 35/50 from below.
  2. 35/50 slope - steep angle - checked. At the moment of the First Touch, 35/50 are clearly sloped up and steepness seems good enough.
  3. Strong Thrust crossing the 35/50 - checked.
  4. 35/50 closely together - UNCHEKED. At the moment of the First Touch, 35/50 are apart.
  5. HTF in agreement - checked. The dotted lines are 10/35/50 on H1 and they are supportive to the upward direction
  6. Market/Session opened - checked. The setup was during the London session. One opened market is enough.

With 5 boxes checked, you can qualify this setup as AA. If you decide to trade the Second Touch in this example, uncheck the First Touch box and you get an A setup.

If you are not an experienced trader, keep in mind the following: this is not a sure thing tool. In your practice you WILL see A-AAA setups failing miserably and B-C setups work out nicely, but I believe the odds for a good potential profit (depending on your execution skills) will always be better with the higher ranking setups.

I don't trade anymore. I just gratefully accept what Market has to offer
Akhaldanos FX1 Return This Month: na
  • #15,142
  • Mar 22, 2020 2:07am Mar 22, 2020 2:07am
Quoting Akhaldanos
Quoting vinicio
{quote} Sure, {image} This was Friday on GU M15 that I actually traded: First Touch - checked. It was the first come back to the 35/50 after the morning thrust up crossing the 35/50 from below. 35/50 slope - steep angle - checked. At the moment of the First Touch, 35/50 are clearly sloped up and steepness seems good enough. Strong Thrust crossing the 35/50 - checked. 35/50 closely together - UNCHEKED. At the moment of the First Touch, 35/50 are apart. HTF in agreement - checked. The dotted lines are 10/35/50 on H1 and they
...
By the way....what you are showing here is not cross & retest trades. They are touch trades...
You are allowed to fall but you are imposed to get up!
  • #15,143
  • Mar 22, 2020 2:39am Mar 22, 2020 2:39am
Quoting iero4
{quote}{quote} By the way....what you are showing here is not cross & retest trades. They are touch trades...
Ahaa, so may be by Cross & Retest you mean strictly like these ones:

Attached Image


If so, apologies for my misinterpretation. Then, one should explore the usefulness of the suggested Checkbox separately for Cross & Retest setups and Touch setups BEFORE committing to it.

Thanks for your point!
I don't trade anymore. I just gratefully accept what Market has to offer
Akhaldanos FX1 Return This Month: na
  • #15,144
  • Mar 22, 2020 3:44am Mar 22, 2020 3:44am
Quoting Akhaldanos
{quote} Ahaa, so may be by Cross & Retest you mean strictly like these ones: {image}
Yes, this is the cross & retest
You are allowed to fall but you are imposed to get up!
  • #15,145
  • Mar 22, 2020 3:45am Mar 22, 2020 3:45am
Your second circle is the better one to take
  • #15,146
  • Mar 22, 2020 6:20am Mar 22, 2020 6:20am
Hey Guys,

you are currently talking about Cross & Retest. Is this concept explained anywhere in the manual or was it added later? iero, you said you that for you, this is a high probability set up. Yet I don't know exactly where to look up the rules or more examples for this. I'm eager to learn more about this.
  • #15,147
  • Mar 22, 2020 2:19pm Mar 22, 2020 2:19pm
Quoting NameIsMethos
Hey Guys, you are currently talking about Cross & Retest. Is this concept explained anywhere in the manual or was it added later? iero, you said you that for you, this is a high probability set up. Yet I don't know exactly where to look up the rules or more examples for this. I'm eager to learn more about this.
As far as I remember it was added later...there is a word file created by someone in this thread which is called DANCE TOC and it has links to some of the most impostsnt posts in this thread related to Choros entries. There you can find some good examples of cross and retest. I will attach it tomorrow as now I don't have my laptop.
You are allowed to fall but you are imposed to get up!
  • #15,148
  • Mar 22, 2020 7:11pm Mar 22, 2020 7:11pm
I always thought of the scoop-up/down trades as a Cross & Retest. If I'm wrong, can someone explain the difference please?
  • #15,149
  • Mar 23, 2020 2:18am Mar 23, 2020 2:18am
Quoting procmail
I always thought of the scoop-up/down trades as a Cross & Retest. If I'm wrong, can someone explain the difference please?
Scoop up/down is a counter trade and occurs before the cross and retest. In my opinion scoop up/down is not recommended if you are not experienced.
You are allowed to fall but you are imposed to get up!
  • #15,150
  • Mar 23, 2020 4:38am Mar 23, 2020 4:38am
The first image is my 1st trade today in USDJPY. It was a cross and retest in M15.

The second image is my second trade and which is still open in GBPUSD. It was 1st touch of M15 10ema.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled2.jpg Size: 182 KB
Click to Enlarge Name: Untitled1.jpg Size: 255 KB
You are allowed to fall but you are imposed to get up!
  • #15,151
  • Mar 23, 2020 4:59am Mar 23, 2020 4:59am
Hi iero4 I took the same trade, there was also a similar set up also on the Eurusd. Well done, you are always generous in your advice.
  • #15,152
  • Mar 23, 2020 6:12am Mar 23, 2020 6:12am
Quoting iero4
The first image is my 1st trade today in USDJPY. It was a cross and retest in M15. The second image is my second trade and which is still open in GBPUSD. It was 1st touch of M15 10ema. {image} {image}
I'm currently in the same GBPUSD trade. Currently waiting to see if it breaks 1.55... I still have a lot to learn, especially concerning trading psychology. I appreciate to be able to learn from all of you guys.
  • #15,153
  • Mar 24, 2020 3:51am Mar 24, 2020 3:51am
Trade what you see, not what you think. Thought often creates losing trades.
  • #15,154
  • Mar 24, 2020 5:55am Mar 24, 2020 5:55am
today a gold longtrade, but keep in mind the lotsize with gold is much bigger than with currencies:
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM15.png Size: 49 KB
trading is like dancing, don't think and just listen to the music!
  • #15,155
  • Edited 7:37am Mar 24, 2020 7:11am | Edited 7:37am
Hey guys, I had a question. I was reading through the manual, and at some point it said take 10 MA touches right at the touch. Do you guys wait for the candle close to enter a touch?
  • #15,156
  • Mar 24, 2020 9:34am Mar 24, 2020 9:34am
Quoting SuperGuyRemi
Hey guys, I had a question. I was reading through the manual, and at some point it said take 10 MA touches right at the touch. Do you guys wait for the candle close to enter a touch?
Hi Remi,

With the Dance usually you take entrys with COB. However with Touch Trades that's not the case, you enter at first touch of the S/R. Because with this specific trade if you would wait for COB, you will miss a big part of the trade (if you don't it's not a very good Touch Trade). However you need to be more careful with EMA10 Touch Trades, SMA35 are usually more reliable, especially when it is stacked with the EMA50.


Also found a nice cross Retest Trade. Thanks iero for telling me where to look. Clear Breakthrough of EMA50 in confluence with a clear breakthrough of the downward trendline. Currently 18 pips locked in.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 72 KB
  • #15,157
  • Mar 24, 2020 9:38am Mar 24, 2020 9:38am
Quoting NameIsMethos
{quote} Also found a nice cross Retest Trade. Thanks iero for telling me where to look. Clear Breakthrough of EMA50 in confluence with a clear breakthrough of the downward trendline. Currently 18 pips locked in. {image}
You are allowed to fall but you are imposed to get up!
  • #15,158
  • Edited 11:10am Mar 24, 2020 10:11am | Edited 11:10am
Quoting NameIsMethos
{quote} Hi Remi, With the Dance usually you take entrys with COB. However with Touch Trades that's not the case, you enter at first touch of the S/R. Because with this specific trade if you would wait for COB, you will miss a big part of the trade (if you don't it's not a very good Touch Trade). However you need to be more careful with EMA10 Touch Trades, SMA35 are usually more reliable, especially when it is stacked with the EMA50. Also found a nice cross Retest Trade. Thanks iero for telling me where to look. Clear Breakthrough of EMA50 in confluence...
Ahhhhhh, thank you! I have had excellent success with this system, and just recently traded a cross and retest on EUR/USD. I also wasn't sure about confirmation at 35/50, so thanks for the help.
  • #15,159
  • Mar 24, 2020 11:05am Mar 24, 2020 11:05am
ah, cross Retest Trade, interesting. its new for me. i will have a look at it.
trading is like dancing, don't think and just listen to the music!
  • #15,160
  • Mar 24, 2020 11:11am Mar 24, 2020 11:11am
Quoting birdland
ah, cross Retest Trade, interesting. its new for me. i will have a look at it.
I don't believe it's in the official rules, but I've observed it time and time again, as have others here. It's essentially a quicker touch trade
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