CHOROS System | Page 811 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

CHOROS Interactive 2,625 replies

Money management for CHOROS and other strategies 2 replies

I want to pay off my mortgage asap with Choros 181 replies

3-9% a day with CHOROS? 63 replies

Would you trade this system? New system #2. 10 replies

Attachments: CHOROS System
Exit Attachments

CHOROS System

  • #16,201
  • May 12, 2021 12:50am May 12, 2021 12:50am
Quoting tallshirley
{quote} Dear Sesamstrasse, thank you for your guidance. I need to overcome FOMO. Thus, created checklist based on this CHOROS rules. I will add wick as a form of NOT TO ENTER in my checklist.
Also study the "Porcupine" in our thread and the manual.
For example:

https://www.forexfactory.com/thread/...20#post3827420
https://www.forexfactory.com/thread/...8#post12115538
https://www.forexfactory.com/thread/...62#post3762562
https://www.forexfactory.com/thread/...5#post12530835
  • #16,202
  • May 12, 2021 2:28am May 12, 2021 2:28am
1 scoop per GU yesterday:
HTF: up
M15: 35/50 up, steep angle
first touches 10 EMA
Result: lost
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD1.proM15.png Size: 32 KB
  • #16,203
  • May 12, 2021 2:44am May 12, 2021 2:44am
Quoting voynich
1 scoop per GU yesterday: HTF: up M15: 35/50 up, steep angle first touches 10 EMA Result: lost {image}
Good morning.
Scoops are advanced, and there was no scoop down.
.. just another porcupine...
My advice is :
Build your account with simple first touches in a clean and clear PA.

After reading this thread you ll be able to spot AAA setups and know how to trade them.

Hope that helped.

Guido
Risiko birgt immer auch die Chance.
  • #16,204
  • May 12, 2021 6:22am May 12, 2021 6:22am
Quoting Sesamstrasse
{quote} Good morning. Scoops are advanced, and there was no scoop down. .. just another porcupine... My advice is : Build your account with simple first touches in a clean and clear PA. After reading this thread you ll be able to spot AAA setups and know how to trade them. Hope that helped. Guido
Thanks Sesamstrasse
You and kostas are the inspiration for me to return to forex after years of failure with countless account fires
Can you explain more meaning:
What is Scoops are advanced, and there was no scoop down?
  • #16,205
  • May 12, 2021 7:14am May 12, 2021 7:14am
oday, GU is quite messy, I have 2 EU sell orders
Sell 1: when price reacts with 35/50, however the weakness of this order is 35 and 50 are quite far apart
Result: - 12 pips
Sell 2: when price goes through 35/50 and reacts with 10 H4 (= ema 160 m15)
Result: + 12 pips (when price shows signs of a pause at LL * DS1)
My question is:
35/50 how many pips are considered far apart?
When 35/50 apart but PA clearly we open transactions?
kostas, Guido, or can someone explain it for me
Thanks guys so much
Attached Image
  • #16,206
  • May 12, 2021 7:14am May 12, 2021 7:14am
Quoting voynich
{quote} Thanks Sesamstrasse You and kostas are the inspiration for me to return to forex after years of failure with countless account fires Can you explain more meaning: What is Scoops are advanced, and there was no scoop down?
My friend, do yourself a favor: Spend time to study the thread from the start. All the questions have been answered again and again. Then you come back here to get further support from experienced traders.
  • #16,207
  • May 12, 2021 7:56am May 12, 2021 7:56am
Quoting kostas1
{quote} My friend, do yourself a favor: Spend time to study the thread from the start. All the questions have been answered again and again. Then you come back here to get further support from experienced traders.
hi kostas, thanks for your advice, i will try to read more
I did a little research on spoon trading
In my understanding, above is 1 spoon transaction:
1, HTF is bullish
2, the price formed a double bottom (black box)
3, then break 10/35/50 and make HH.LL increase
4, The 2-bar rule when the price tests the EMA10 for the first time
I am not sure I understand correctly. Hope to get help from you guys
Sorry that English is not my mother language
Thanks very much
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD1.proM15.png Size: 34 KB
  • #16,208
  • May 12, 2021 8:06am May 12, 2021 8:06am
Rare FX trading.

"Clearing books" as main Idea.

Entry M5 ,
TP 50 H4 out for 25 green
Attached Image(s) (click to enlarge)
Click to Enlarge Name: _ GBEbrokers-Live- EURUSD,M5 12.5. 25.png Size: 35 KB
Click to Enlarge Name: EURUSD,H4 TP 50 H4.png Size: 36 KB
Risiko birgt immer auch die Chance.
  • #16,209
  • May 12, 2021 8:08am May 12, 2021 8:08am
Quoting voynich
{quote} hi kostas, thanks for your advice, i will try to read more I did a little research on spoon trading In my understanding, above is 1 spoon transaction: 1, HTF is bullish 2, the price formed a double bottom (black box) 3, then break 10/35/50 and make HH.LL increase 4, The 2-bar rule when the price tests the EMA10 for the first time I am not sure I understand correctly. Hope to get help from you guys Sorry that English is not my mother language Thanks very much {image}
I like your list, this is a good reasoning.
Yes, you are correct that it is a scoop-up trade and as you see the trade finally could give around +25p profit.
But, look at the H1 chart which is very noisy and porcupine (yellow arrow is your trade). Your small SL for this kind of noise couldn't keep you in the trade, it stopped you out and then continued higher.


Attached Image (click to enlarge)
Click to Enlarge Name: GU5.jpg Size: 74 KB
  • #16,210
  • May 13, 2021 9:25am May 13, 2021 9:25am
Quoting kostas1
{quote} Also study the "Porcupine" in our thread and the manual. For example: https://www.forexfactory.com/thread/...20#post3827420 https://www.forexfactory.com/thread/...8#post12115538 https://www.forexfactory.com/thread/...62#post3762562 https://www.forexfactory.com/thread/...5#post12530835
Dear Kostas1, thank you for your advice. I think i will spend more time to read more before going into trade.

Usually the FOMO will come first without realizing it. Porcupine is a good way to filter away bad trades. I need to learn deeper in order not to enter as FOMO. Thank you. I will continue to improve and learn this method.
  • #16,211
  • Edited 6:23am May 14, 2021 6:08am | Edited 6:23am
hi kostas, sesam and everyone
my order to sell GU yesterday
Sell GU when price test zone: 35/50 * RN/DO
Result: - 16p
I've been told that 35/50 being apart is not a good sign
but in a market with a good downtrend, and with a combination of SR, RN levels, is the signal still considered AAA?
Attached Image
  • #16,212
  • May 14, 2021 7:02am May 14, 2021 7:02am
Quoting voynich
I've been told that 35/50 being apart is not a good sign but in a market with a good downtrend, and with a combination of SR, RN levels, is the signal still considered AAA?
You answered yourself why it is not an AAA trade.
  • #16,213
  • Edited 9:46am May 14, 2021 8:10am | Edited 9:46am
Quoting voynich
{quote} Thanks Sesamstrasse You and kostas are the inspiration for me to return to forex after years of failure with countless account fires Can you explain more meaning: What is Scoops are advanced, and there was no scoop down?
Hi.
IMO a scoop is for that reason a advanced technique that you need to know:
"When/Why" the market is not respecting 35/50 Maīs anymore and overshoots those both lines.

- Something like first touch (most safe touches) already appeared,
-MAīs widening or flat-- and so on.

Hereīs a example of yesterdayīs scoop up.
In this case a "early scoop" build on 10 ema (and in a m1 chart that really has nothing to say, m1 is the most unstable Tf to chose!!)

Quoting voynich
hi kostas, sesam and everyone my order to sell GU yesterday Sell GU when price test zone: 35/50 * RN/DO Result: - 16p I've been told that 35/50 being apart is not a good sign but in a market with a good downtrend, and with a combination of SR, RN levels, is the signal still considered AAA? {image}
.. as Kostas said-- no AAA setup.

As closer you can get the "touch" at the lines, as tighter your stop can be.
- Over and over said..

Take your time, it is a marathon, not a sprint.

Good luck + happy weekend
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: [EURUSD,M1 scoop up 15 green.png Size: 33 KB
Risiko birgt immer auch die Chance.
  • #16,214
  • May 14, 2021 10:14am May 14, 2021 10:14am
Hi, are these the only valid entries this week, or am I missing something here. I really love this strategy and I it would be great if someone could tell when what I miss. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 9.png Size: 58 KB
  • #16,215
  • Edited 1:37pm May 14, 2021 11:00am | Edited 1:37pm
Quoting Jathavedhan
Hi, are these the only valid entries this week, or am I missing something here. I really love this strategy and I it would be great if someone could tell when what I miss. Thanks {image}
Do your work and read the thread.. itīs all in there
Attached Image (click to enlarge)
Click to Enlarge Name: CHOROS System just my 2 cents.png Size: 60 KB
Risiko birgt immer auch die Chance.
  • #16,216
  • May 14, 2021 1:57pm May 14, 2021 1:57pm
Quoting Sesamstrasse
{quote} Do your work and read the thread.. itīs all in there {image}
Thanks a lot. I'll try my best to learn to dance.
  • #16,217
  • May 17, 2021 12:54am May 17, 2021 12:54am
Quoting Sesamstrasse
{quote} Do your work and read the thread.. itīs all in there {image}
Hi Sesamstrasse, can you please explain why didn't you consider the setup formation on the First Red cross? I am asking because I have been in trouble catching 10 EMA trades, and more often I get trapped in these kind of trades.
  • #16,218
  • May 17, 2021 2:51am May 17, 2021 2:51am
Quoting atif58
{quote} Hi Sesamstrasse, can you please explain why didn't you consider the setup formation on the First Red cross?
Hi Atif, you NEVER take a double top by itself as a valid setup. It must occure at a RN, MA and/or prior S/R level. Additionally I would prefer that the red bar forming the double top or the next one, to close below the 10 ema in order to enter short.

I hope its more clear now
You are allowed to fall but you are imposed to get up!
  • #16,219
  • May 17, 2021 3:15am May 17, 2021 3:15am
Quoting atif58
{quote} Hi Sesamstrasse, can you please explain why didn't you consider the setup formation on the First Red cross? I am asking because I have been in trouble catching 10 EMA trades, and more often I get trapped in these kind of trades.
iero4 makes a good point. In addition, the actual EMA10 trade was the touch 8 bars ago.
  • #16,220
  • May 17, 2021 7:42am May 17, 2021 7:42am
today, I skipped GU because it was too messy
EU sell order: is 1 scoop trade + 10H1/35/50 and exits at DO
Result: +9 (I'm still having trouble getting the tp to be efficient)
Attached Image
17 traders viewing now