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CHOROS System

  • #15,861
  • Oct 8, 2020 4:50am Oct 8, 2020 4:50am
Quoting Phlong37
{quote} Nice! Had an eye on this one as well. When do you decide to exit the trade though? I have noticed that a lot of people posting here of touch trades are scalping. So in and out very quickly.
yes, like kostas stated, in and out at 10-15 pips
trading is like dancing, don't think and just listen to the music!
  • #15,862
  • Oct 8, 2020 7:35am Oct 8, 2020 7:35am
Took this first touch of the SMA35/EMA50 today (Short GBP/USD). SL 7 pips, TP 14 pips.
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  • #15,863
  • Oct 8, 2020 7:46am Oct 8, 2020 7:46am
Quoting Phlong37
Took this first touch of the SMA35/EMA50 today (Short GBP/USD). SL 7 pips, TP 14 pips. {image}
your stop is too short. you will get a lot of takeouts of your stops. GU needs min. 20-30 pip stop.
trading is like dancing, don't think and just listen to the music!
  • #15,864
  • Oct 8, 2020 7:50am Oct 8, 2020 7:50am
Quoting birdland
{quote} your stop is too short. you will get a lot of takeouts of your stops. GU needs min. 20-30 pip stop.
Hmm, doesn't the guide say for touch trades to use max sl of 12 pips?

And if I really used an SL of 20 pips, wouldn't the trade strategy fail in the long term? SL 20 pips, TP 10-15 pips are a bad risk reward ratio no?

Thanks.
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  • #15,865
  • Oct 8, 2020 8:05am Oct 8, 2020 8:05am
Quoting Phlong37
{quote} Hmm, doesn't the guide say for touch trades to use max sl of 12 pips? And if I really used an SL of 20 pips, wouldn't the trade strategy fail in the long term? SL 20 pips, TP 10-15 pips are a bad risk reward ratio no? Thanks. {image}
first, i dont look at r:r ratios. to me its bullshit.

second, i dont look at the guide (next bullshit), i look at the market. the market guides me;-)
trading is like dancing, don't think and just listen to the music!
  • #15,866
  • Oct 8, 2020 8:07am Oct 8, 2020 8:07am
Haha, I see. I just thought this whole trading strategy is based on that guide lol.
  • #15,867
  • Oct 8, 2020 8:55am Oct 8, 2020 8:55am
GBP/USD M15: Is this a constrainment of SMA35/EMA50? Price touched it 3 times and I went short.
Got stopped out then though.
(
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  • #15,868
  • Oct 8, 2020 9:00am Oct 8, 2020 9:00am
Quoting Phlong37
GBP/USD M15: Is this a constrainment of SMA35/EMA50? Price touched it 3 times and I went short. Got stopped out then though. ( {image} {image}
There was no constrainment--

It´s a second/3rd touch on flat MA´s.

Nothing changed what I wrote yesterday.
Risiko birgt immer auch die Chance.
  • #15,869
  • Oct 8, 2020 9:04am Oct 8, 2020 9:04am
Quoting Sesamstrasse
{quote} There was no constrainment-- Still valid what I wrote yesterday.
I don't get it then.. I saw similar setups in the guide PDF. There are some contradicting opinions on it. On a lot of posts here it's said that constainment trades are the easiest one to trade and that 1st touches would be harder. You mentioned then that constainment trades is advanced stuff. The guide also writes that constrainments are easy to trade.

Would you mind to explain what constrainments are exactly then? What is the difference between the situation in the screenshot with mine?

For me constrainment for a short = Price restesting and failing to close above the MAs (which happened here.

I'm on Demo so would love to learn from the mistakes.

Thanks..

Edit: So the problem is that the MAs are flat?
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  • #15,870
  • Oct 8, 2020 9:18am Oct 8, 2020 9:18am
Quoting Phlong37
{quote} I don't get it then.. I saw similar setups in the guide PDF. There are some contradicting opinions on it. On a lot of posts here it's said that constainment trades are the easiest one to trade and that 1st touches would be harder. You mentioned then that constainment trades is advanced stuff. The guide also writes that constrainments are easy to trade. Would you mind to explain what constrainments are exactly then? What is the difference between the situation in the screenshot with mine? For me constrainment for a short = Price restesting...
i trade this more than 10 years and dont touch constrainments anymore. i dont get them working;-)
trading is like dancing, don't think and just listen to the music!
  • #15,871
  • Oct 8, 2020 9:22am Oct 8, 2020 9:22am
Quoting birdland
{quote} i trade this more than 10 years and dont touch constrainments anymore. i dont get them working;-)
Okay, good to know! I'll focus on the touch trades and try to master them then.
  • #15,872
  • Oct 8, 2020 9:24am Oct 8, 2020 9:24am
Quoting Phlong37
{quote} I don't get it then.. I saw similar setups in the guide PDF. There are some contradicting opinions on it. On a lot of posts here it's said that constainment trades are the easiest one to trade and that 1st touches would be harder. You mentioned then that constainment trades is advanced stuff. The guide also writes that constrainments are easy to trade. Would you mind to explain what constrainments are exactly then? What is the difference between the situation in the screenshot with mine? For me constrainment for a short = Price restesting...
With all due respect--
Do your work and read the thread.

https://www.forexfactory.com/thread/...0#post12778680

It´s all written in this thread over and over.

It is really all in here, we hide nothing.
Risiko birgt immer auch die Chance.
  • #15,873
  • Oct 9, 2020 2:50am Oct 9, 2020 2:50am
Quoting Sesamstrasse
{quote} It is really all in here, we hide nothing
It is really all in here, we hide nothing since we are not that good in hiding stuff anyway......
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  • #15,874
  • Oct 9, 2020 3:27am Oct 9, 2020 3:27am
Damn it,

just missed this H1 Higher MA Touch on GBPUSD both on top of each other, with Pivor Confluence by just a few minutes. Too bad! NEXT.
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  • #15,875
  • Oct 9, 2020 8:21am Oct 9, 2020 8:21am
Now this is what I call constrainment. I wanted to enter 7 pips earlier but my wife had different opinion ...

Phlong37 is confused as some examples in the manual are not clear. I have attached the DanceTOC. file where you can have all the links to some of the most important posts in this thread. There you can find information about constrainments as well...The file was not created from me though...I dont really remember the guy's name
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Attached File(s)
File Type: doc DanceTOC.doc   243 KB | 488 downloads
You are allowed to fall but you are imposed to get up!
  • #15,876
  • Oct 9, 2020 9:41am Oct 9, 2020 9:41am
Practice and experience allows one to benefit from opportunities when they arise. Opportunities always exist, however one needs to be prepared to find them and then exploit them. There is nothing in this business about luck, only about past preparation. Luck is a function of effort.
  • #15,877
  • Oct 9, 2020 9:53am Oct 9, 2020 9:53am
Kostas1 mentioned to follow a pair during the day. This is very important to do in order to understand the dance and it’s relationship to the mas
  • #15,878
  • Oct 9, 2020 9:54am Oct 9, 2020 9:54am
Quoting Gragab
Practice and experience allows one to benefit from opportunities when they arise. Opportunities always exist, however one needs to be prepared to find them and then exploit them. There is nothing in this business about luck, only about past preparation. Luck is a function of effort.
and i prefer to make profits and not talking.

i am like donald trump in trading;-)
trading is like dancing, don't think and just listen to the music!
  • #15,879
  • Oct 9, 2020 10:27am Oct 9, 2020 10:27am
I am like myself, a vessel imbibing knowledge
  • #15,880
  • Oct 9, 2020 7:40pm Oct 9, 2020 7:40pm
Yesterday I had this nice correlation between M15 35 and RN on first touch... the 35 also isn't flat...

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However... Just 6 minutes later

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Did I do something wrong?
It's never too late to make a bad trade!
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