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CHOROS System

  • #15,161
  • Edited 5:23pm Mar 24, 2020 3:49pm | Edited 5:23pm
Also, one more quick question about money management with this system. I know the rules say 3 max losses per session, or 2 max in a row, but I've seen that Kostas targets a pip amount, and I do get why he does that, but does he or anyone else here only stop trading after they've reached that pip amount to the negative or positive? Like, let's say your max stop loss is 20 pips, so you base your risk upon that, but then only have stops of 10 due to market circumstances and placement. If you were to lose three 10 pip SL trades in a row, would you be done, or keep trading until you hit + or - that 3% target in a day?
  • #15,162
  • Mar 24, 2020 7:42pm Mar 24, 2020 7:42pm
It’s work very well.
i found that i have to learn more. I need some help here.

please see the images.
I think i have to enter at the close of the mentioned candle?

for the other image, is there any place to enter?
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  • #15,163
  • Mar 25, 2020 1:52am Mar 25, 2020 1:52am
Quoting naruponk
It’s work very well. i found that i have to learn more. I need some help here. please see the images. I think i have to enter at the close of the mentioned candle? for the other image, is there any place to enter? {image} {image}
yes, you can enter there or direct at the touch of the Ma 35 or Ma 50.
trading is like dancing, don't think and just listen to the music!
  • #15,164
  • Mar 25, 2020 3:54am Mar 25, 2020 3:54am
Very strong confluence in EUR/GBP. Took 2 trades with +46 pips and I am done for today
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You are allowed to fall but you are imposed to get up!
  • #15,165
  • Edited 5:06am Mar 25, 2020 4:51am | Edited 5:06am
Quoting birdland
{quote} yes, you can enter there or direct at the touch of the Ma 35 or Ma 50.
Thank you Birdland.
But how can I enter a trade effectively?
I mean how to increase a win rate, how to reduce a loss entering?
Sometimes, I enter at a touch but it's a loss for small 10pips then I have to re-enter at a cost of 10 pips. sometimes, I need to enter 2-3 times then the market goes in my way.

Do I need to wait for a close of the candle?
  • #15,166
  • Mar 25, 2020 4:55am Mar 25, 2020 4:55am
Quoting iero4
Very strong confluence in EUR/GBP. Took 2 trades with +46 pips and I am done for today {image}
Well done Iero.I took the same too.I am still open and already +57 pips.I am expecting to reach 0.9075 which is my tp.Just hit it.I Could trail it but it's ok! +69 pips profit!Not bad for a newbie!!!
  • #15,167
  • Mar 25, 2020 5:25am Mar 25, 2020 5:25am
Quoting naruponk
{quote} Thank you Birdland. But how can I enter a trade effectively? I mean how to increase a win rate, how to reduce a loss entering? Sometimes, I enter at a touch but it's a loss for small 10pips then I have to re-enter at a cost of 10 pips. sometimes, I need to enter 2-3 times then the market goes in my way. Do I need to wait for a close of the candle?
Hello Naruponk.
You ll be able to spot AAA setups after reading this thread.

all your questions are answered over and over.


Guido
Risiko birgt immer auch die Chance.
  • #15,168
  • Mar 25, 2020 5:27am Mar 25, 2020 5:27am
Quoting Sesamstrasse
{quote} Hello Naruponk. You ll be able to spot AAA setups after reading this thread. all your questions are answered over and over. Guido
Thank you and sorry for asking this question, I really didn't complete every page here. just about 100+ and just read the manual.
  • #15,169
  • Mar 25, 2020 6:08am Mar 25, 2020 6:08am
Quoting naruponk
{quote} Thank you Birdland. But how can I enter a trade effectively? I mean how to increase a win rate, how to reduce a loss entering? Sometimes, I enter at a touch but it's a loss for small 10pips then I have to re-enter at a cost of 10 pips. sometimes, I need to enter 2-3 times then the market goes in my way. Do I need to wait for a close of the candle?
through experience and screentime.
trading is like dancing, don't think and just listen to the music!
  • #15,170
  • Mar 25, 2020 2:16pm Mar 25, 2020 2:16pm
Hi everyone,

since I'm currently trying to trade live as well, I have a question about how you approach your trading day (especially from the people who additionally work part time/Full time). This is what I'm currently struggling with.

1. How often do you look at the screens? Every hour, 15 minutes, more often?
2. Do you define potential trades / expected entry levels one or twice a day and maybe set limit orders or do you just observe what the market does and wait for a setup to happen? If so, how can you make sure you're not missing it while working?
3. How often do you have days where you don't find a good setup and just pass for the day without trading?

Cheers,
Methos
  • #15,171
  • Mar 25, 2020 2:32pm Mar 25, 2020 2:32pm
NameisMethos. I am relatively new compared to the other traders. I trade for about four hours daily, not continuously though. When I trade I watch the screen without interruption. Everyday provides various set ups across all currency pairs. With practice one becomes better, at first try not to loose too much money and then try to get to a point of ending the trading day breaking even. If you get to this point then you have reached a point of self reflection and you are on the path of becoming a successful and consistent trader. Eventually you look at the chart and the set ups stare you in the face.
  • #15,172
  • Mar 25, 2020 4:29pm Mar 25, 2020 4:29pm
Quoting NameIsMethos
Hi everyone, since I'm currently trying to trade live as well, I have a question about how you approach your trading day (especially from the people who additionally work part time/Full time). This is what I'm currently struggling with. 1. How often do you look at the screens? Every hour, 15 minutes, more often? 2. Do you define potential trades / expected entry levels one or twice a day and maybe set limit orders or do you just observe what the market does and wait for a setup to happen? If so, how can you make sure you're not missing it while...

Hi NameisMethos.

I work fulltime and our projects are tough, so I m not in mood to watch charts while work too much.
Charts require my full attention to see the flow.
After project phases I trade often fulltime with 3 screens all the time.
1. 1 to 3 times a day in M1 or m5 charts.
2. I don t like limit orders for intraday trading,
For me it is important how fast the price starts moving
to my defined MA.
For higher timeframes may be.
3. There are plenty opportunities a day, I see no reason to
get every trade.
Most of them I skip, because it s also time required.
to manage the trade after entry.

Hope this helped a bit.
Guido
Risiko birgt immer auch die Chance.
  • #15,173
  • Mar 26, 2020 1:22am Mar 26, 2020 1:22am
i trade fulltime, so from frankfurt open till london end. of course between i make breaks for a coffee or walk.
i only need 2-3 trades a week (that hit my TP) and i only take AAA trades.
there are often days (like yesterday) where i could not find a trade.
most of the times i use a limit order, seldom a market order. if i dont get into the trade, no problem, next trade.
trading is like dancing, don't think and just listen to the music!
  • #15,174
  • Mar 26, 2020 5:46am Mar 26, 2020 5:46am
GU very erratic and dangerous these days....
Anyway, I grabbed a quick but juicy trade.

Attached Image (click to enlarge)
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Now waiting for the news and see if anything else pops up.



.
  • #15,175
  • Mar 26, 2020 6:37am Mar 26, 2020 6:37am
Hi everyone,

thanks for all of your replys concerning your trading day and times! My key takeaway is that it's better to trade just a few hours a day but with full concentration on the market than the whole day with many interruptions. I guess I have to try to make it fit for me and my schedule.

Also, I am currently looking at a potential Touch Trade on EURUSD Daily. It moved up within 3 candles and the 50 and 35 are not too far apart. The slope could be steeper though... Since it's a D1 setup with potentially big gains, I will have an eye on it and wait for some kind of confirmation on M15 to enter. Any comments?
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  • #15,176
  • Mar 26, 2020 6:50am Mar 26, 2020 6:50am
Quoting kostas1
GU very erratic and dangerous these days.... Anyway, I grabbed a quick but juicy trade. {image} Now waiting for the news and see if anything else pops up. .
I'm still into it, almost same entry, 35/50 touch with a bounce and good angles, but targeting 2014, shy off R1. Stop @ +32 pips locked in profit.
I don't trade anymore. I just gratefully accept what Market has to offer
Akhaldanos FX1 Return This Month: na
  • #15,177
  • Mar 26, 2020 6:54am Mar 26, 2020 6:54am
Quoting NameIsMethos
Hi everyone, thanks for all of your replys concerning your trading day and times! My key takeaway is that it's better to trade just a few hours a day but with full concentration on the market than the whole day with many interruptions. I guess I have to try to make it fit for me and my schedule. Also, I am currently looking at a potential Touch Trade on EURUSD Daily. It moved up within 3 candles and the 50 and 35 are not too far apart. The slope could be steeper though... Since it's a D1 setup with potentially big gains, I will have an eye on it...
The D1 35/50 setup is confluenced with H4 SMA 200, Daily R2, Monthly Pivot and RN (1.1000) !!!
So I would expect some very-very strong reaction. But the D1 35/50 are flat so trade carefully.
Also the higher the TF the longer it takes to react (for example sometimes it takes a double top formation in M15 or even H1 to enter a trade).
Personally, the D1 is not my preference due to lack of patience...
  • #15,178
  • Mar 26, 2020 7:56am Mar 26, 2020 7:56am
Lately I've been having an immense issue with the 10 EMA repainting which causes me to miss good entry points or even miss a trade entirely. Is there a way you guys get around this?
  • #15,179
  • Mar 26, 2020 8:42am Mar 26, 2020 8:42am
Quoting kostas1
GU very erratic and dangerous these days.... Anyway, I grabbed a quick but juicy trade. {image} Now waiting for the news and see if anything else pops up. .
two similar setups on EU and GU in the last hour, but I was too insecure to take it unfortunately
  • #15,180
  • Mar 26, 2020 9:16am Mar 26, 2020 9:16am
my one and only AAA longtrade EU today good for +80pips,
even the RN at 1.0900 was an obvious support.
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trading is like dancing, don't think and just listen to the music!
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