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CHOROS System

  • #521
  • Edited 4:41am Jun 2, 2010 4:28am | Edited 4:41am
GU new trade

*EDITs*

1. First TP of 15pips hit. Now moved to BE with opening of new candle and with the 10ema moving below my BE.
2. COmpletely forgot about spread. Just got stopped out at BE on my two parts trade!
3. My spelling is shocking!
Attached Image (click to enlarge)
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  • #522
  • Jun 2, 2010 5:15am Jun 2, 2010 5:15am
Caught this one for 26 pips

Entered on M5 50ma touch, also 38.2 fib on M15 and RN resistance.

By the way guys, what program do you use to edit your screen shots ?
Attached Image (click to enlarge)
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  • #523
  • Jun 2, 2010 5:19am Jun 2, 2010 5:19am
Quoting simmo24
Caught this one for 26 pips

Entered on M5 50ma touch, also 38.2 fib on M15 and RN resistance.

By the way guys, what program do you use to edit your screen shots ?
Another classic! I got the same trade for +19p.
Simmo you are showing the patience that this method needs. The M5 was really helpful in this trade.
Now keep an eye on the H1 35/50 and H4 10. Get another 20 there and done for the day.

Kostas

P.S (edit) Faststone for chart editing is excellent. It's 30 day trial but you can find registration code on google
  • #524
  • Jun 2, 2010 5:23am Jun 2, 2010 5:23am
Quoting simmo24
Caught this one for 26 pips

Entered on M5 50ma touch, also 38.2 fib on M15 and RN resistance.

By the way guys, what program do you use to edit your screen shots ?

Yeah, I was watching this one, with teh FIB up too, but I didnt take it.

I am not familiar with FIB. Though, it was a pip perfect bounce of the 38.2!
  • #525
  • Jun 2, 2010 5:26am Jun 2, 2010 5:26am
Quoting leemonk
Yeah, I was watching this one, with teh FIB up too, but I didnt take it.

I am not familiar with FIB. Though, it was a pip perfect bounce of the 38.2!
Fib was a nice confluence but not the signal. Signal was a super confluence of RN, Monthly Pivot, M5 50 and then a nice M5 price action bar right on the spot.
  • #526
  • Jun 2, 2010 5:31am Jun 2, 2010 5:31am
Quoting leemonk
Constrainment: Price is being held, either up or down, by an MA (or even RN/Pivot). The rules of this trade are that on the 3rd touch of the constrainment, you enter the trade.

Example: If price is trying to head north, but keeps getting stopped at the 15minute 35/50 which is just above it, at the 3rd candle that touches this/these MA's, you take the trade SOUTH. Generally you will see smaller candles at this stage rather than anything with large wicks.

Now, you don't see to many of these unless you trade the Asian or London markets, as by the...
All, my apologies. I made an error in describing a constrainment trade yesterday. My example (chart) was correct, but my wording was not.

please see above for correction.

Lee
  • #527
  • Jun 2, 2010 5:32am Jun 2, 2010 5:32am
Quoting kostas1
Fib was a nice confluence but not the signal. Signal was a super confluence of RN, Monthly Pivot, M5 50 and then a nice M5 price action bar right on the spot.
.........and I missed all of that how?

I was staring at the damn thing!!!!

I have closed my charts now whilst I re-read the manual. I am getting annoyed at what I am missing by not paying attention and it's distracting my reading as well as my trading.
  • #528
  • Jun 2, 2010 5:36am Jun 2, 2010 5:36am
GU:
confluence of
H1: 35/50
H4: 10
Daily pivot and RN are also very close (but confluenced with H1 62)
  • #529
  • Jun 2, 2010 5:37am Jun 2, 2010 5:37am
Quoting kostas1
GU:
confluence of
H1: 35/50
H4: 10
Daily pivot and RN are also very close (but confluenced with H1 62)
I am 'supposed' to be reading.....

Perfect bounce off the daily low.
  • #530
  • Jun 2, 2010 6:00am Jun 2, 2010 6:00am
Did anyone take that bounce off the 1.4637 area ?
I wanted to but for some reason couldn't pull the trigger.
Would have been good for another 20 pips.
  • #531
  • Jun 2, 2010 6:55am Jun 2, 2010 6:55am
Took this trade at the touch of the M5 35ema. The price did continue up but eventually after a couple of more bars came down to hit my 15 pip TP.
41 pips for the day so far. If I was on a live account that would it for the day but as I'm practising and enjoying myself I'll probably carry on for an hour or two.
Attached Image (click to enlarge)
Click to Enlarge Name: Trades3.JPG Size: 147 KB
  • #532
  • Jun 2, 2010 7:29am Jun 2, 2010 7:29am
Quoting leemonk
Hi everyone.

I am please to say that Clay has revised the manual, as promised, and I am attaching it here.

You will also find the templates, scripts and the indicators for 'The Dance'.

I have not read the new manual, but it is printing as we speak!!!

Lee
Hi Lee,

Thank you very much uploading theese files. I can open all of them but not the manual. I can not unzip that with any program.
Thanks in advance
Szabolcs
  • #533
  • Jun 2, 2010 8:50am Jun 2, 2010 8:50am
This is fun !

Details on Chart
Sorry you cant see the entry on there as I had the Daily chart highlighted at the time. Entry was 1.4618 Exit 1.4603.
The other sell you can see there is a longer term trade based on the Daily chart and is currently at +41 pips.
Attached Image (click to enlarge)
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  • #534
  • Jun 2, 2010 9:00am Jun 2, 2010 9:00am
Quoting simmo24
Details on Chart
Took this one with 40 TP and made up all my loses for today. At last really successful trade for the last two weeks
  • #535
  • Jun 2, 2010 9:02am Jun 2, 2010 9:02am
Quoting messiahua
Took this one with 40 TP and made up all my loses for today. At last really successful trade for the last two weeks
Yes !

Good isn't it, Early days yet but I'm beginning to think I may be able to make some money with this.
  • #536
  • Jun 2, 2010 9:13am Jun 2, 2010 9:13am
I took the same trade, which also worked out quite nicely...Oanda was hanging and I accidently put on two trades so got 37pips but with twice more normal position!

Not good though with Oanda, this is the second time it has played this week, with one time price going right past my stop loss....Good thing I'm only trading with cents!
  • #537
  • Jun 2, 2010 10:19am Jun 2, 2010 10:19am
Quoting neilpryde
Hi Lee,

Thank you very much uploading theese files. I can open all of them but not the manual. I can not unzip that with any program.
Thanks in advance
Szabolcs
I've uploaded it again, but I can not do anything thing different this end.

Try it again, if it does not work, PM me with your email address and I'll email it to you, if you want?
Attached File(s)
File Type: zip The M15 Dance Manual.zip   2.5 MB | 652 downloads
  • #538
  • Jun 2, 2010 10:20am Jun 2, 2010 10:20am
Quoting simmo24
Early days yet but I'm beginning to think I may be able to make some money with this.
Actually, this may be the WORST thing that happens to you! I had a few successes early on with this system. It convinced me that I had "the touch." I started trading larger and larger lots and taking bigger and bigger risks because I was certain that I was "the chosen one" that had found the "perfect system." Within the next 2 months, I had pretty much blown my account.

There's a reason Clay recommends quitting for the day after you've had a maximum of 5 successful trades (or 2 losers in a row). It keeps your head from getting too big! It also prevents you from getting too greedy and falling into the same trap that I fell into.

I'm a lot more careful now not to take on too much risk on any single trade. I'm not trying to discourage you - just hoping someone else learns from my mistakes (I paid enough for them!).

Hiram

BTW, I took the same short trade on the GBPUSD that some of the others did but couldn't watch the chart so set a modest TP and pulled out 22 quick pips.
  • #539
  • Jun 2, 2010 10:23am Jun 2, 2010 10:23am
Quoting leemonk
I am please to say that Clay has revised the manual, as promised, and I am attaching it here.
Let me join the others in asking that you pass along to Clay our appreciation for his continued support of this thread.

Hiram
  • #540
  • Jun 2, 2010 10:24am Jun 2, 2010 10:24am
Quoting hiramp
Actually, this may be the WORST thing that happens to you!...

Wise words!
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