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CHOROS System

  • #1,361
  • Jul 20, 2010 4:57pm Jul 20, 2010 4:57pm
My broker (IBFX) went five digits recently, since then the Dance scripts stopped working (I did change all the pip values in the scripts). Funny part is that everything was working alright before the change to five digit pricing. I tryed everything. Any Ideas???
  • #1,362
  • Jul 20, 2010 5:48pm Jul 20, 2010 5:48pm
Quoting Mr.Bear
My broker (IBFX) went five digits recently, since then the Dance scripts stopped working (I did change all the pip values in the scripts). Funny part is that everything was working alright before the change to five digit pricing. I tryed everything. Any Ideas???
i started Forex with bots so... i remember using an ea called steve hopewood's multi purpose trade management ea

it has an option to add in take profit and stop loss for you. so i was thinking just adapt the script. remove the tp, sl and just use that ea to do the rest.
  • #1,363
  • Jul 21, 2010 2:13am Jul 21, 2010 2:13am
Quoting Mr.Bear
My broker (IBFX) went five digits recently, since then the Dance scripts stopped working (I did change all the pip values in the scripts). Funny part is that everything was working alright before the change to five digit pricing. I tryed everything. Any Ideas???
Mr Bear,

See below for a pic of my scripts. I had problems with these before too.

I have highlighted some of the numbers that I 'might' have changed.

There are a couple of things that you need to check out.

1. Do you use the auto risk changer? If so, you need to establish the smallest size lot you can place. If in my case it is 0.1 then you need to ensure that the auto risk is rounding up to this number, which it does NOT do with the scripts supplied by Clay. Just make sure that your numbers are the same as my numbers. I am not sure who gave me this answer but they are in this thread somewhere.

2. If you do NOT use the auto risk, then create an 'ordersize' in the global variables. If you do not know how to do this, post back here and I will show you, but I beleive I had done this in the thread already too...... but am happy to show again.

Lee
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  • #1,364
  • Jul 21, 2010 2:30am Jul 21, 2010 2:30am
Quoting willhuang
i started Forex with bots so... i remember using an ea called steve hopewood's multi purpose trade management ea

it has an option to add in take profit and stop loss for you. so i was thinking just adapt the script. remove the tp, sl and just use that ea to do the rest.
Will,

There are scripts in the dance thread and here that allow you to enter and move stop losses and take profits.

If I can work out how to post them then I will.

These are the scripts I have and use:
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  • #1,365
  • Jul 21, 2010 4:12am Jul 21, 2010 4:12am
Quoting kostas1
It's not you. It's the market:
1. Summer time means lower volume and price is more erratic
2. We are at a very important multi-month resistance and price can't decide which way to go.
Every morning you should look at the big picture (higher TFs) before you start trading.
I hope nobody is trying to Dance today. As I said yesterday the very critical levels of the price and the summer volume can do funny things like the 2min 150pip move this morning. Also notice that H4, H1 and M15 MAs are very flat so price can do anything. Personally, I am scalping a few pips here and there from M5/M1 but with very tight SL and small TP (using CHOROS M5 rules).
  • #1,366
  • Jul 21, 2010 4:52am Jul 21, 2010 4:52am
Quoting kostas1
I hope nobody is trying to Dance today. As I said yesterday the very critical levels of the price and the summer volume can do funny things like the 2min 150pip move this morning. Also notice that H4, H1 and M15 MAs are very flat so price can do anything. Personally, I am scalping a few pips here and there from M5/M1 but with very tight SL and small TP (using CHOROS M5 rules).
Choros M5 Rules ?
  • #1,367
  • Jul 21, 2010 4:59am Jul 21, 2010 4:59am
Was just 'chatting' with Clay on email.

He was saying that you have to be VERY selective on which touch trades you are taking in the summer months.

He is still doing well, but he is being VERY careful.

Lee
  • #1,368
  • Jul 21, 2010 5:10am Jul 21, 2010 5:10am
Lee, thank for your reminder.

I will be more careful then...

120% focus on the trade I enter & exit...
  • #1,369
  • Jul 21, 2010 5:19am Jul 21, 2010 5:19am
Quoting simmo24
Choros M5 Rules ?
Well, since the Dance rules do not use M5 MAs whereas I do, let's make this distinction for the new guys. The rest of you know what I am talking about.
  • #1,370
  • Jul 21, 2010 5:23am Jul 21, 2010 5:23am
Well, the M15 is now officially a "porcupine"
  • #1,371
  • Jul 21, 2010 8:37am Jul 21, 2010 8:37am
grabbed my +30 on EU today 09:15 gmt 10 EMA touch

im BE yesterday due to some little "i need to play against the trend" error in my mind

but gu 12:30 GMT (yesterday) safed my ass with a little 10ema touch where i took a quick 15 pips


how's everyones day going ?
Never whishing, always trading.
  • #1,372
  • Jul 21, 2010 8:58am Jul 21, 2010 8:58am
I Just got settled in to my trading day (I start at 9 AM EST).
Looks like some wild movement last night.
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  • #1,373
  • Jul 21, 2010 9:01am Jul 21, 2010 9:01am
That EU trade was the only one that I felt was strong enough to trade.

The only other trade I have seriously eyed up today (but chickened out in the end) was the circled trade below on GU.

Nice PA on the 5min and strong confluence on the 50ema (15min chart) and 50/35(5min chart). The reason I didn't take was that the conditions had been so poor all day, and was worried about the S/R line that I had drawn in.

In hindsight the line had been broken just before the signal so could have taken, but always easy in hindsight. Did anyone take it?

EDIT: Just as a side-note, trade could have been entered on the candle 2 before the circled one (on the 15min chart), with similar price action on the 5min chart, but I was on lunch so wasn't there to see it.

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  • #1,374
  • Jul 21, 2010 9:07am Jul 21, 2010 9:07am
I took it...27 pips
"Being picky only cost your time - not MONEY"...Hans
  • #1,375
  • Jul 21, 2010 9:08am Jul 21, 2010 9:08am
pffft...show off
  • #1,376
  • Jul 21, 2010 9:35am Jul 21, 2010 9:35am
Took +10 pips on RN Bounce, but I don't feel that confident
trading today. I also chickened out on that earlier trade.
Attached Image
  • #1,377
  • Jul 21, 2010 10:21am Jul 21, 2010 10:21am
Quoting leemonk
Will,

There are scripts in the dance thread and here that allow you to enter and move stop losses and take profits.

If I can work out how to post them then I will.

These are the scripts I have and use:
i think Go markets have a problem with the dance scrips. its not the digits im having problem with. it is giving error because gomarkets does not allow an order to be placed with TP and SL at the same time

so i have to use an EA to add the TP and SL after placing a single buy/sell order

http://www.gomarketsaus.com/Forex/troubleshooting.html

Quote
Q: I can't place a stop loss or take profit order on my trade.
A: On market execution you cannot place your pending orders before execution of the entry order. After placing the trade you can add your stop/limit orders through the Terminal.
  • #1,378
  • Jul 21, 2010 10:29am Jul 21, 2010 10:29am
Before coming to "The Dance", I scalped EUR/USD exclusively on the 1 min TF for almost 6 months. I was NOT profitable, but had pockets of profitability that were usually destroyed by one BAD trading day (about once per month). These "bad" days were days much like we have had lately.

At least for me, in the US session, it seems this past week we've had one directional up or down days [ (down, down, down) or (up,up,up) ]. We've had very few valid signals to jump on these trending days. It's frustrating to see price move so far and not be able to profit from it.

This frustration is much better than trying to take counter trend entries on days like these. My worst days previously were created from repeated actions just like this.

(next post, an example from today)
  • #1,379
  • Jul 21, 2010 10:36am Jul 21, 2010 10:36am
Been tough old day.

Managed two 30 pip dance trades today (same EU as earlier posted and a recent USDCAD p/b to 1.0400).

HOWEVER, am actually B/E for the day having given it all back scalping around/countertrending etc trying to make a purses out of sows ears.

Doh!
  • #1,380
  • Edited 12:07pm Jul 21, 2010 10:42am | Edited 12:07pm
This is a countertrend trade, not recommended in the basic rules.
On page 55 of the M15 manual Clay briefly discussed Advanced strategies.

"Scooped Up" or "Scooped Away" is one of those.
This trade was my interpretation of his rules for a trade like this.

I entered at the retouch of the 10 EMA in the next candle.
I managed to make a few pips profit, it was a BAD profitable trade.
(A trade that was profitable but not within the basic rules.)

Price is now more pips lower than my "small" profit was after entry.
My small profit was less than my stop-loss for the trade as well.

This means that my risk was not favorable for this trade.

Endroute and Clay both emphasized to not take counter-trend entries and to be patient and wait for great setups.

This was the first "scooped" trade I have seen and that is why I screen captured it. I am not criticizing anyone for taking counter-trend trades .

(edited :Please read Lee's following post)
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