CHOROS System

Here is mine. Very tricky price action....

any one using retrace bot here,i find it very intersting,plz share your experince,thnaks

Hi Kostas,

Which bar is your entry ,after pinbar 1 formed you put your order or waiting for bar 2 retest RN or touch the 35/50 or waiting for bar closed to trade as constrain?

Thanks

Today first trade for NU.

I missed first touch , but next bar very quick to retrace back again to M15 10ema confluence with RN, so I entered.

TOok one with 8 pips and leave another one to run , to see how far it can go or stop me at BE？

Update: second trade was kicked out with BE .

So waiting for next one.

The good one enter should be the first touch it would give around 15pips but I missed it . Second touch is not good enough

second trade for UC,

It is H1 10ema TOUCH and M15 35 EMA touch, enter on touch point and quick give me 10 pips .

NO more trade for Asian session.

I didn't consider it as constrain. I was just waiting for price to touch 35/50 and H1 10 (normal procedure for GU).
After the M5 bar at 16:25 which rejected the H1 10 closed, I entered the trade.
Not an AAA trade since the 35/50 were just starting to point down.
The next signal (next yellow bar) was much better trade since it rejected confluence of H1 10, DP and RN but the move upwards was strong so I did not risk that one.
In this case I used M5 only to fine-tune the trade, the signal was from M15.

Thanks details explanation.

Learnt from you.

EUR/JPY

I was a little bit late but I was very sure about this and used M5 to finetune my entry...closed 75% of the trade at +19.6 pips and the rest still running...

UPDATE: Closed the rest 25% at +63 pips...

So happy to be able to trade again

Nice trading

H1 10EMA Touch Trade with a very clear two bar retrace.

Very important: H4, H1 and M15 Time Frames trending down (As the Manual says, we use 35SMA and 50EMA to have an idea of the trend)

I got +25pips from that trade.

Today first trade : UC

I triggered when touch M15 35, a little bit earlier, should wait for touch with 50.

To see how far it can go.

Update : After several bars struggling , I decided to stop this trade with -1 pip.

GU EMA50 touch trade, +16 pips, exited too early.

there is no "exit too early" in my trading. often i exit with +3,+5 or +9 pips and i am happy.

Long day waiting.

Took this touch for EU

Update : Took 8pips and another one took 15 pips.

We took the same trade Buddy. I oppened two trades, closed one with +10p and moved to BE the second one. Finally the second trade hit TP of +25p.

One experienced trader named strat said: "I'm not looking to get in [or out] at the top or bottom - I just want the "meat" in the middle of a trend - this is the safest with the lowest risk."

Be careful, the entry bar was too strong!

Yes, a little bit scared. But first touch with M15 & M5 same time, it is worth to risk with 10 pips SL.

Dear all,

I just had a meeting with a very experienced trader. Actually he is a golden boy. Head of exotic equities trader in Citi bank and he has been head of Europe trading exotics in Stanley and Morgan. He now has his own hedge fund in London so I arranged a meeting in his summer house next to my place. I wanted to take his opinion about our strategy...

If you have watched any video of Antony Kreil you will understand what it was like...my mind is completely blown . He talked about being crypto-long or crypto-short in a position . He talked about arbitrage instruments like forex market and he mainly talked about probabilities and statistical distributions . I think I lost 3 kg in a single hour...

Now, to summarize...He said that every technical analysis strategy is an algorithm. For him, technical analysis does not work and this is because it is based in previous data with backtesting all these indicators such as moving averages etc. For him only fundamentals work as it can predict the future with the help of some technicals ☹. But he said "if you have found something that works for you...I am ok with this...go on". He said that all of us who trade with this strategy, are in level one...there are guys in goldman sachs that use algorithms that are in level 100 and we will never reach that level. And this is the reason why technical analysis is not working in long term especially the last 10 years. Big guys are continually developing algorithms that make the FX market unpredictable and on the other hand manipulated at some point.

The good thing that he said is that if you have found a profitable strategy, stick to it. "Discipline is the 1st secret to be consistent". The 2nd secret is to remove any human "staff" from you while you trade. "It requires no emotions at all..." He had dozens of traders working for him and they failed because they didn't follow these rules.

"It is very good to follow simple things like basic theory for price action or price constrainment etc because many traders use them and they are good for short term trading" he said. It also depends to the gains that you are looking for. He said that he would not wake up in the morning to trade for an income of 20.000 euros per year ...!!!

He said so many things. He explained to me that a false signal in a ranging market is nothing more than a statistical error and that we can avoid these false signals by applying A level statistics. He also explained to me in probability and statistical terms what price constrainment is but to tell you the truth I didn't understood a single thing .

At the end he said that we have to understand why we earn the money and why we lose it. If you are profitable you have to know why you are. If not again you have to know the reasons. "In the case you are consistently profitable is because you have discipline and because your strategy is based in high probability entries!!!!" But in the end, all retail traders are like mouses in a jungle full of lions. "This doesnt mean that you can not make it...but you just have to know the area you are moving so you can avoid those lions"

I am waiting for your comments

Edit: He gave me 2 tips...stay short in USD and stay short in GBP

Iero

I think he is right when he says that indicators can't predict the future, however from my noob understanding we are not trading the future in the dance, we are reacting to the present.

I have seen Antony Kreil's course - and to be honest he makes fundamentals more complicated than it needs to be
For some reason he ignored geopolitics - which does not make sense to me- as that is crucial

All of the banks start from fundamentals- then look at other things- (as your friend confirms)
On FF fundamentals are put in the... "too difficult pile"- even then some people on FF don't even get it right
Jarratt Davis has some free stuff on youtube that is well worth looking at - as a starting point

Knowing what various trading actors might have to do- based upon risk, balancing, time, structure, and liquidity is another step. Remember- they are the ones pressing the big buttons- not you

However, if you are making money with a system...and are happy with it...stick with it.
Time is precious....