GU yesterday was a perfect porcupine-day;-) {image}
Dax only.
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{quote} Hi Tyross, I noticed that you’re using this strategy on the DAX as well. I’d be interested to know the size of your stop-loss and take-profit, and whether you use partial exits. Thanks in advance!
I have a safety stop loss that varies based on the current ATR. It's automatically set to 40 points upon entry and is only there in case I have a technical issue. But if the ATR is low, I move it closer. If the ATR is high, it moves to 50 points. If the ATR is extremely high, I don't take a position. This ATR is measured over 14 periods on M1 and M3.
My real stop loss is a close beyond the range of the entry candle, or beyond the support or resistance level that justified the trade. It depends on the type of trade.
Regarding my Take Profit, I have always adopted Kostas' logic (long before Choros): never ask for too much and don't worry about ratios. However, I do like to get close to the 00-25-50-75 levels. On that note, on the Dax, the 25 and 75 levels are also support and resistance. On M3, on the Dax, with a normal ATR, the trade always goes beyond 10 points, but you have to be logical and cautious: the expected TP is not the same for a counter-trend trade as for a trend trade.
I aim for 30 to 40 points per day, but I adapt to the day's conditions. Finally, I never use partial take profits. I only had regrets with that approach. I try to move to break-even (BE), obviously. Like everyone else. But I'm not a fan of BE. I really prefer to exit on a logical manual SL.
I don't enter large positions to better manage stress. My maximum risk is that of the 40-point automatic safety SL: 1.5%. It's set up that way. But my real SL is shorter.
Regarding my method, I stay very close to Clay's Choros as he described it in his manual. I focus mainly on candles with small bodies and rejection candles. I don't like engulfing candles or outside candles. I also have a 5-color RSI below my chart, which makes it easier for me to choose which candles to select. It's a little trick that dates back to my Ichimoku learning: a French trader, a coach, used it. When I switched to trading on dynamic systems, I integrated it (even though I didn't like it on Ichimoku). But in the Choros method, there are no oscillator.
Dax only.
{quote} Hi Arik
Dax only.
- #16,606
- Sep 25, 2025 2:40am Sep 25, 2025 2:40am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
{quote} Hi Arik
I agree 100% about partial TP. Also, it's a long time since I stopped BE approach. Market is very sneaky in grabbing your BE
and then move to the desired direction, making you feel like a fool 
which then drives you to make another stupid trade due to FOMO. Many times I use larger SL, to avoid whipsaw from the market. This means I completely ignore Risk-Reward (bullshit
) ratio. Let's say you are winning 18pips and your R:R says you need to wait to 25pips, are you willing to risk 18pips profit for another 7p with the risk of the market going back or is it better to take the 18p and look for the next opportunity?
- #16,607
- Edited 4:28am Sep 25, 2025 4:18am | Edited 4:28am
{quote} Very nice analysis mon ami ! I agree 100% about partial TP. Also, it's a long time since I stopped BE approach. Market is very sneaky in grabbing your BE
Completely agree. And yet, this whole ratio thing has become dogmatic. Traders would rather miss out on a really good trade because the ratio isn't clear... it's crazy. What certainty do you have of getting a 2 or 3 ratio? None, it's just theory. A French fund manager wrote a great book on this absurdity of ratios, and it busts that myth. It really opened my eyes, especially for the very short term where the price is volatile.
Just a quick reminder once again about oscillator: I was a doctor before I started trading. There's one very important thing to understand: when you make a diagnosis, you take into account the overall state of a situation based on several key elements, you NEVER focus on a single symptom or a single piece of data. It's the same in trading: a technical indicator is just a small part of the puzzle. My RSI 5 is just a common tool that's not magical and only provides me with one piece of data among others. It's mostly the price and Choros that give me the real information.
edit: the link to the book about money management and ratio. The author is Michel Delobel. This book is in french, unfortunetely.
https://www.amazon.fr/Money-Manageme.../dp/2954611014
Dax only.
- #16,608
- Sep 25, 2025 7:57am Sep 25, 2025 7:57am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
{quote} Hi my friend
During the coronavirus pandemic, we needed politicians who, like traders or good doctors, took into account the overall state of a situation based on several key elements ;-)
By the way, I still use Choros. But I've also learned a lot about zones and horizontal lines over time, which has satisfied my thirst for knowledge, but isn't absolutely necessary.
trading is like dancing, don't think and just listen to the music!
{quote} Very interesting... I'm singing from the same hymn sheet when it comes to R:R. I've also met a few successful traders here who don't care about ratios either – that's something they all have in common. During the coronavirus pandemic, we needed politicians who, like traders or good doctors, took into account the overall state of a situation based on several key elements ;-) By the way, I still use Choros. But I've also learned a lot about zones and horizontal lines over time, which has satisfied my thirst for knowledge, but isn't absolutely...
In 2017, I took a nine-month training course focused on the mechanics and behavior of the DAX. I didn't like their trading method, but I was interested in deciphering the DAX's mechanics. I noticed that ratios were present everywhere in their scenarios. They created problems that didn't initially exist, which complicated the reasoning. But I learned a lot from them, even if I only use very little of it in the end. As you wrote, we don't need to use everything, but we like to know.
Dax only.
- #16,611
- Sep 25, 2025 9:27am Sep 25, 2025 9:27am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
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Started studying the dance for 3 weeks now. Going to demo to learn it . Posting one trade here. A little message of appreciation in my language for kostas1. Ένα thread που συνεχίζεται αδιάκοπα εδώ και 15 χρόνια (τότε ήμουν μόλις 10 χρονών) αποτελεί...
Dax only.
- #16,616
- Sep 29, 2025 1:08am Sep 29, 2025 1:08am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
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