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CHOROS System

  • #15,181
  • Mar 26, 2020 10:22am Mar 26, 2020 10:22am
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...
kostas said already everything,

have a look at the 35/50 a month before. the MAs were nearly flat and it went through 1.10 like butter...
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #15,182
  • Mar 26, 2020 10:42am Mar 26, 2020 10:42am
Quoting birdland
my one and only AAA longtrade EU today good for +80pips, even the RN at 1.0900 was an obvious support.

Hi Birdland, was the entry reason for your EU trade constrainment against the EMA50 in confluence with the round number? Also is there a specific reason why you sustained the pullback 4 candles prior to your exit? For me such a big pullback would have either triggered my trailed SL or shaken my out... I'm asking because I still have many issues with trade management and the exit strategy.

Concerning the Daily EU Touch opportunity: Thanks a lot for your input! It made me stay out of the market for now. I'm still having a very close look at it and I'm waiting for a possible short entry. If none present itself, so be it.
  • #15,183
  • Mar 26, 2020 10:43am Mar 26, 2020 10:43am
EURGBP - 15 min chart, TP at 38 pips (risked 19 pips), required some patience as it took 2 hours to hit my TP.
I personally prefer to go for 1:2 trades (risk a certain % of my account on each trade) and are not that focused on the pip count itself.
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  • #15,184
  • Mar 26, 2020 10:54am Mar 26, 2020 10:54am
Quoting NameIsMethos
{quote} Hi Birdland, was the entry reason for your EU trade constrainment against the EMA50 in confluence with the round number? Also is there a specific reason why you sustained the pullback 4 candles prior to your exit? For me such a big pullback would have either triggered my trailed SL or shaken my out... I'm asking because I still have many issues with trade management and the exit strategy. Concerning the Daily EU Touch opportunity: Thanks a lot for your input! It made me stay out of the market for now. I'm still having a very close look at...
i was not in front of the screen at that pullback time, so when i saw it i immediately set my stop to BE. normally i would have sold it with +70 or +75 pips, but luckily it went back to my TP.

have a look at GA daily, both touch times we saw a steep angle. but keep in mind, trades from daily charts need wider stops!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily.png Size: 66 KB
trading is like dancing, don't think and just listen to the music!
  • #15,185
  • Edited Mar 27, 2020 1:56am Mar 26, 2020 3:50pm | Edited Mar 27, 2020 1:56am
alright so I'm in the trade now... I didn't recognize a good entry point so I stayed out the whole time. But I noticed, that there is a pretty strong S/R right at 1,10550 which can be seen on all Time frames including on daily by 2 wicks. I figured if I enter just below this resistance and put the SL directly above, there is little risk and potentially a lot to gain. There is an inside bar right after P&A wasn't able to close above the resistance which I took as a reason for entry. I'm currently at +15 pips and will move to break even now.

Since the market will mark a new day in about 10 minutes, it defintely isn't a touch trade anymore. Also I'm reasonably sure that I will be stopped out when I return to my computer tomorrow morning. However it's a risk free trade right now, so I'm just looking where it's gonna take me.

EDIT: As expected, I was taken out BE overnight. Although there was some method present, I made one small and two big mistakes... The small one is taking a counter trend, technically not an error but I'm not that good yet to be consistent with it. The big mistakes are: 1. I trades what I expected, not what I saw. 2. The main reason for entering was the "thrill" of entering a trade at such an important level and the potential gain coming out of if. Both are excellent reasons to be a loosing trader and something I really have to work on...
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  • #15,186
  • Mar 26, 2020 8:26pm Mar 26, 2020 8:26pm
eurusd h4
Attached Image (click to enlarge)
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MTN
  • #15,187
  • Mar 27, 2020 3:53am Mar 27, 2020 3:53am
I took a sell on EU, please comment on this trade
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  • #15,188
  • Mar 27, 2020 5:38am Mar 27, 2020 5:38am
would this be a valid put here? even though it would be loss in hindsight
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  • #15,189
  • Mar 27, 2020 6:07am Mar 27, 2020 6:07am
Quoting redeemer007
I took a sell on EU, please comment on this trade {image}
Did you read the pdf?
MTN
  • #15,190
  • Mar 27, 2020 6:17am Mar 27, 2020 6:17am
Quoting Marcelomtn
{quote} Did you read the pdf?
yes sir, i have read it. please mention if there was any mistake. I would be really glad if you do that sir.
  • #15,191
  • Mar 27, 2020 6:25am Mar 27, 2020 6:25am
Quoting redeemer007
{quote} yes sir, i have read it. please mention if there was any mistake. I would be really glad if you do that sir.
Hey, not sir I am but a noob.

IMO you could have taken the 2 bar pullback touch to the average.

The second image, I might be wrong, but looks like a porcupine area now
MTN
  • #15,192
  • Mar 27, 2020 7:29am Mar 27, 2020 7:29am
Quoting redeemer007
would this be a valid put here? even though it would be loss in hindsight {image}

Hi Redeemer.

If the 10 ema is between 35 sma and 50 ema, we call is a MA soup and skip the trade.

That is basic knowledge, everybody has to know.

Take your time and read the thread, you ll be amazed by the simplicity of dancing.

Stick to basic trades (first touches, steep MA higher tf confirmed during open market hours)
and build your account step by step.

Later................................(after months or years)...............
....................................., when you already know how to dance,
.....then you can trade advanced techniques like constrainments and scoops.

With these first steps you have a good chance to get a profitable dancer.

Good luck

Guido
Risiko birgt immer auch die Chance.
  • #15,193
  • Mar 27, 2020 8:13am Mar 27, 2020 8:13am
Quoting Sesamstrasse
{quote} Hi Redeemer. If the 10 ema is between 35 sma and 50 ema, we call is a MA soup and skip the trade. That is basic knowledge, everybody has to know. Take your time and read the thread, you ll be amazed by the simplicity of dancing. Stick to basic trades (first touches, steep MA higher tf confirmed during open market hours) and build your account step by step. Later................................(after months or years)............... ....................................., when you already know how to dance, .....then you can trade advanced...
thank you sir for your input, i will follow the steps
  • #15,194
  • Mar 27, 2020 11:08am Mar 27, 2020 11:08am
10 EMA touch trade I entered at the touch on UJ
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  • #15,195
  • Mar 27, 2020 11:29am Mar 27, 2020 11:29am
a reentry-trade, but it can happen:
first trade -50pips
second reentry-trade +120 pips
Attached Image (click to enlarge)
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trading is like dancing, don't think and just listen to the music!
  • #15,196
  • Mar 27, 2020 1:39pm Mar 27, 2020 1:39pm
A re-entry trade shows the courage to change ones mind when a set up changes. Most of the time the reward is much larger than the loss. It shows the courage and instinct to change ones mind on short notice and the belief in realizing that one is wrong and suppressing the ego in hanging on to a losing trade. A re-entry shows the understanding of a technique of trading.
  • #15,197
  • Mar 28, 2020 5:50am Mar 28, 2020 5:50am
Both charts are the 1hour chart. The candles have closed so they have closed more or less dead end on the 35/50.
My question is; would you consider this a valid trade? (as 1 hour touch of the 35/50)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: touch2.JPG Size: 54 KB
  • #15,198
  • Mar 28, 2020 12:00pm Mar 28, 2020 12:00pm
Quoting mtruefx
Both charts are the 1hour chart. The candles have closed so they have closed more or less dead end on the 35/50. My question is; would you consider this a valid trade? (as 1 hour touch of the 35/50) {image} {image}

In my opinion in the first pic the body of the candle is big,full and without weak and the MA's angle is not stepp so probably it's strong and might continue downwards.In the second pic there is a small weak so it might go up.Also the angle here is not steep too,meaning you can't be sure.So both of the pairs before opening a trade I think it's better go to the M15 and M5 chart and see how they move.These charts will show you what to do.Before every trade you should take first 3 or more signs for a move.With one sign you can't be quite sure confident.At least this is what I do with my trades!Hope I helped you!
  • #15,199
  • Mar 29, 2020 8:19am Mar 29, 2020 8:19am
Quoting mtruefx
Both charts are the 1hour chart. The candles have closed so they have closed more or less dead end on the 35/50. My question is; would you consider this a valid trade? (as 1 hour touch of the 35/50) {image} {image}
1) i dont like that the opens of the last bar doesnt touch the low of the bar 2 hours before
2) the dark bars (on the way down) are bigger from size than the white bars (on the way up)
3) the last bar is a big bar AND a dead end bar.

i would avoid these two trades.
trading is like dancing, don't think and just listen to the music!
  • #15,200
  • Mar 31, 2020 12:59am Mar 31, 2020 12:59am
i woke up this morning and NC longtrade (from m30) hit TP:
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADM30.png Size: 62 KB
trading is like dancing, don't think and just listen to the music!
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