Attachments: CHOROS System

CHOROS System

#1,681
Sep 2, 2010 2:07am Sep 2, 2010 2:07am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

I took this from the M15 EMA10 touch. I only took 11p because I had the H1 MA35 sitting right in front of the trade. It may still penetrate it but I wanted to be safe (11p is 1/3 of my daily vitamins

)......

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#1,682
Sep 2, 2010 2:11am Sep 2, 2010 2:11am

luckylady
| Membership Revoked | Joined Jul 2009 | 825 Posts

Quoting Mr.Bear

Disliked

I have a question regarding this issue mentioned above about the news and prior price action (before the news). What do you guys think, is the prior price action showing the potential direction the market could go on the news data release? I was thinking about it, because the news and data releases actually move the price, so the dance setups should help us to determine the direction the price would go, showing the markets hand. I think that constrainment setups before the news release are usable in our favor more often then not.
What are your thoughts...

Ignored

You will most times find the price action before a news release shows you which way its going to go ultimately, the only problem is you sometimes get wild swings on high risk news before it settles into that direction which could take you out only to go the way you thought in the first place.

#1,683
Sep 2, 2010 2:12am Sep 2, 2010 2:12am

counor
| Joined May 2010 | Status: Trader | 63 Posts

Quoting Mr.Bear

Disliked

I have a question regarding this issue mentioned above about the news and prior price action (before the news). What do you guys think, is the prior price action showing the potential direction the market could go on the news data release? I was thinking about it, because the news and data releases actually move the price, so the dance setups should help us to determine the direction the price would go, showing the markets hand. I think that constrainment setups before the news release are usable in our favor more often then not.
What are your thoughts...

Ignored

A few rather simple thoughts:

If the news is in line with the markets expectations then I think you can argue that it is already priced in and that whatever The Dance is saying will reflect it. If it is not in line then I guess it can go either way (which simplistically you could say is 50/50).

Therefore between the ones that are in line and the 50% that go your way I think you can conclude that you will be more right than wrong with The Dance set up (assuming that it is usually right).

A very tight SL is probably the answer and staying away from the very volatile releases.

#1,684
Sep 2, 2010 2:16am Sep 2, 2010 2:16am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting Mr.Bear

Disliked

I have a question regarding this issue mentioned above about the news and prior price action (before the news). What do you guys think, is the prior price action showing the potential direction the market could go on the news data release? I was thinking about it, because the news and data releases actually move the price, so the dance setups should help us to determine the direction the price would go, showing the markets hand. I think that constrainment setups before the news release are usable in our favor more often then not.
What are your thoughts...

Ignored

Actually, apart from very important news, I tend to ignore the news in general if I have a strong setup. Of course, sometimes my SL will get hit by the news noise but very often a strong setup gets me in profit in a few seconds. Sometimes, I use slightly larger SL if news are close (~15-18p) but most times around 10-12p. It seems to me that most news tend to move the price quickly to where it was going to go even without the news. Only the big impact news should be avoided (e.g. NFP, bid rate, etc.)

#1,685
Sep 2, 2010 3:41am Sep 2, 2010 3:41am

Whenever
Joined Aug 2010 | Status: Trader | 428 Posts

Hi All,

I ask me: what TF actually "drives" the trade and/or the next direction ?

Is a touch of any MA on H1 "stronger" than a M15 ?

Do the "real Dancer" take all signals, not depending on what TF is showing it ?

I think to start to "understand" that anyway a good moment can be when two TF show a signal at the same time.

This was a nice Touch of MA10 on M15 and MA35 on M5.
It worked.

Exit at +17 just for not beeing to greedy as beginner, later I'll learn to follow the exit trailing rules...

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#1,686
Sep 2, 2010 4:39am Sep 2, 2010 4:39am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting Whenever

Disliked

Hi All,

1. Is a touch of any MA on H1 "stronger" than a M15 ?

2. Do the "real Dancer" take all signals, not depending on what TF is showing it ?

3. I think to start to "understand" that anyway a good moment can be when two TF show a signal at the same time.

4. This was a nice Touch of MA10 on M15 and MA35 on M5.
It worked.

Ignored

Hi Whenever,
Here is my response:
1. Absolutely and an H4 is stronger than H1, and D1 is stronger than H4. On the higher TFs sometimes price tends to overshoot a little bit (around 10-15p) before the reverse happens. Some other times even at higher TFs price obeys to the exact pip.
2. We take signals from the M15, but higher TF has always priority. If the higher TF is in front of the lower TF (look at my today's trade) then be careful. If on the other hand, higher TF agrees or confluences with the lower TF then the trade will be very strong.
3. Yes, as I said above these will be very strong trades.
4. Good job on this. Good idea to take profits earlier.

Kostas

#1,687
Sep 2, 2010 6:55am Sep 2, 2010 6:55am

Whenever
Joined Aug 2010 | Status: Trader | 428 Posts

Another trade based on two MA's of two different TF:

* H1 touch of MA10
* M15 touch of MA35

I also tried a M30 touch of M10 but it was not a good trade (closed also positively, but this was only "lucky")

I closed the trade as the M5 reached the MA35.

+ 12 pips

Yes, with patience and time to follow 30 pips a day are possible !

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#1,688
Edited 8:05am Sep 2, 2010 7:06am | Edited 8:05am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting Whenever

Disliked

Another trade based on two MA's of two different TF:

* H1 touch of MA10
* M15 touch of MA35

I also tried a M30 touch of M10 but it was not a good trade (closed also positively, but this was only "lucky")

I closed the trade as the M5 reached the MA35.

+ 12 pips

Yes, with patience and time to follow 30 pips a day are possible !

Ignored

Good job!
I got the exact same trade for +25pips (I still have a small portion of that trade open, shooting for Daily S1 at 1.5363.

EDIT: (Small portion stopped out at +10)
EDIT AGAIN: Darn, after stopping me out, it shot down to my target

#1,689
Sep 2, 2010 10:13am Sep 2, 2010 10:13am

Whenever
Joined Aug 2010 | Status: Trader | 428 Posts

Quoting kostas1

Disliked

EDIT: (Small portion stopped out at +10)
EDIT AGAIN: Darn, after stopping me out, it shot down to my target

Ignored

Master !

You got +25 and +10 on a further small portion and you are angry ?

You followed the rules, and WON !

Greedy Temptation, go far away from everybody of us !

#1,690
Sep 2, 2010 10:45am Sep 2, 2010 10:45am

Whenever
Joined Aug 2010 | Status: Trader | 428 Posts

Quoting kostas1

Disliked

It's probably time that I talked about M1 head-fakes.

Let's imagine price coming from above to touch 35/50 on M15 (which means you are going to go long).

Many time the price will touch, then go up (gets you in the trade), but then quickly reverses (head-fake) and overshoots the 35/50 by 10-12 pips (and takes out small SLs and stops you out).

It then quickly goes back up in the right direction.

All this can be observed in the M1 TF and what I normally do is wait for the second touch-overshoot to get in.

This means that I miss some...

Ignored

Kostas,

if you don't mind I would like to post your words here again, for any new entry like me, who is perhaps not reading all the thread, because I think this could be an important brick to build our castle.

As you say this may take away some pips if the bounce is immediate and you may lose that trade (or just some pips if you jump on a bit later), but (and this is the important factor for me) it may avoid to jump on the wrong "touch" too.

Sometimes we may think "this is the touch", while the signal for that move could be the next MA on the next TF and we (I did) are "chained" in the wrong trade...

With this sistem if the price continues to go down we may observe the next level in the same way...

Sooner or later there will be the right one

Is there any let's say a kind of "average" nr of pips that you noted it could usually take before (if) the "head fake" starts ?

If I well understood, you consider to entry the trade once the price pass again through the level on the right direction, after the stops hunting ?

Any comment highly appreciated.

Ciao from Italia !!!

#1,691
Edited 8:52pm Sep 2, 2010 8:40pm | Edited 8:52pm

willkohsg
| Joined Dec 2008 | Status: Trader | 587 Posts

Hi guys i'm back glad to see u guys again,
i've been away in august

has august been harder to trade ?
looks like everyone is still bagging pips left n right

let's see if we can spot some trades pre-european session today

just remembered it's NFP today.
wondered how did we do on 6th August? ( last NFP )
( checking older posts now.. )
starts at post #101 just so u dont have to search again

#1,692
Sep 3, 2010 12:11am Sep 3, 2010 12:11am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting Whenever

Disliked

Kostas,

if you don't mind I would like to post your words here again, for any new entry like me, who is perhaps not reading all the thread, because I think this could be an important brick to build our castle.

As you say this may take away some pips if the bounce is immediate and you may lose that trade (or just some pips if you jump on a bit later), but (and this is the important factor for me) it may avoid to jump on the wrong "touch" too.

Sometimes we may think "this is the touch", while the signal for that move could be the next MA...

Ignored

I still use the "head-fake" concept but only on the touch trades. It requires to have the M1 open and observe closely what happens when the price touches the MA. I do NOT use the "head-fake" for the regular 35/50 bounces (for these I wait for the right M5 rejection bar).
Usually, if there is confluence (e.g. MAs with pivots or round numbers or MAs from different TFs) then the price usually checks all of them. So I wait until the price touches the last one of them and then enter the trade.
I haven't measured any pips but the fake is usually easy to spot. Just keep your M1 open on the next touch and you will see what I am talking about (don't take the first M1 touch, wait a few minutes for the price to retrace and then take the second deeper touch). Again, sometimes the price will never come back and you will loose some opportunities but on the other hand this filters several bad trades.

#1,693
Edited 12:43am Sep 3, 2010 12:18am | Edited 12:43am

willkohsg
| Joined Dec 2008 | Status: Trader | 587 Posts

Hi guys n gals,
I just wanted to put up this chart and ask for advice:

I am not sure if this is a Constrainment,
I see prices respecting these MAs on :

1) M15 10 MA ( poking thru the 10 MA from time to time, does it still count? )
2) H1 50 MA
3) M5 50MA

Might have a possible GU Long developing..
any thoughts? price in between 2 Round Numbers 1.5400 and 1.5450

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#1,694
Sep 3, 2010 12:42am Sep 3, 2010 12:42am

birdland
Joined Aug 2010 | Status: absolute beginner | 5,463 Posts

Quoting willkohsg

Disliked

Hi guys n gals,
I just wanted to put up this chart and ask for advice:

I am not sure if this is a Constrainment,
I see prices respecting these MAs on :

1) M15 10 MA
2) H1 50 MA
3) M5 50MA

Might have a possible GU Long developing..
any thoughts? price in between 2 Round Numbers 1.5400 and 1.5450

Ignored

hello,
i prefer the M15 35/35 RN confluence. there is some constraninment on H1 50, but it looks not strong enough.

trading is like dancing, don't think and just listen to the music!

#1,695
Sep 3, 2010 12:49am Sep 3, 2010 12:49am

willkohsg
| Joined Dec 2008 | Status: Trader | 587 Posts

Quoting birdland

Disliked

hello,
i prefer the M15 35/35 RN confluence. there is some constraninment on H1 50, but it looks not strong enough.

Ignored

thank for the advice man

i'll look at M15 30/50 MA and RN then

#1,696
Sep 3, 2010 12:57am Sep 3, 2010 12:57am

willkohsg
| Joined Dec 2008 | Status: Trader | 587 Posts

was away from the screen for a few minutes and GU proceeded to bounce off those 35/50 MAs from 1.5406 to 1.5412 now...

will wait for another opportunity to get in.. maybe when Europe starts which is soon..

#1,697
Sep 3, 2010 1:11am Sep 3, 2010 1:11am