CHOROS System | Page 97 | 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

  • #1,921
  • Oct 5, 2010 3:14am Oct 5, 2010 3:14am
mr.bear, this is a very new and good alternative to trade the opposite, IF a AAA-setup fails!

good observation, ill add to my technices!
thx!
trading is like dancing, don't think and just listen to the music!
  • #1,922
  • Oct 5, 2010 3:17am Oct 5, 2010 3:17am
another +11 pips on the M15 10 touch
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2010-10-05 um 12.16.19.png Size: 59 KB
trading is like dancing, don't think and just listen to the music!
  • #1,923
  • Oct 5, 2010 3:19am Oct 5, 2010 3:19am
This was a classic M15 EMA10 touch trade. I took it for +20p, I exited when price stalled.

P.S. The thread is NOT dying, I am too busy traveling, so YOU should take the slack and discuss in here....
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.JPG Size: 268 KB
  • #1,924
  • Oct 5, 2010 3:27am Oct 5, 2010 3:27am
Quoting Mr.Bear
Well, the entry was based on the price retracing back to the EMA's after a strong move through super confluence: RN, Daily Pivot, EMA50, SMA35, EMA 10. One more argument for taking this trade was previous price action: The previous bar before the break was a good size pin bar, the following bar broke all the super confluence in one move, this shows a strong momentum, so based on all this I was waiting for the price to retrace towards all the broken resistance, it did so already in the same bar and a bit in the next. So I decided to enter long based...
Very good contribution with this post Mr Bear!
It is definitely an advanced Dance trade (look for the "scooped-up" trades that are briefly mentioned in the manual and I had some real examples earlier in this thread.) I missed this one. Good job!

Kostas
  • #1,925
  • Oct 5, 2010 4:17am Oct 5, 2010 4:17am
Quoting kostas1
This was a classic M15 EMA10 touch trade. I took it for +20p, I exited when price stalled.

P.S. The thread is NOT dying, I am too busy traveling, so YOU should take the slack and discuss in here....

Hi Kostas,

not at all as a critic, but just for me to better understand: that M15 was not on "two bars to get there".

How did you consider the entry ?
Based on the P/A on M5, as the price reacted back up from the EMA10 ?

Do you sometimes happen to take with success such touches even without the "two bars" rule ?


Thank You


One more question.
I am a 9am to 6pm (European Time) worker as well....so I am often forced to "lose" most of the GU Session, so the question is:
Has anybody experiences of the Dance on higher TF as H4 and/or Daily ?
  • #1,926
  • Oct 5, 2010 4:37am Oct 5, 2010 4:37am
Quoting Whenever
Hi Kostas,

not at all as a critic, but just for me to better understand: that M15 was not on "two bars to get there".

How did you consider the entry ?
Based on the P/A on M5, as the price reacted back up from the EMA10 ?

Do you sometimes happen to take with success such touches even without the "two bars" rule ?


Thank You


One more question.
I am a 9am to 6pm (European Time) worker as well....so I am often forced to "lose" most of the GU Session, so the question is:
Has anybody experiences of the Dance on higher TF as H4 and/or...
When I see strong movements like this, I tend to relax the 2-bar rule. Of course, I am quick on the trigger to take my pips (my SL was not on the top of the last M15 bar). As you can see in this case, if I were to wait per the Dance rules I would be stopped out. So if you follow the SL with the M15 bars then you shouldn't have taken this trade since it was not by the "2bar rule".

The H1, H4 and Daylies work great on the EMA10 touches. I have also played H1 35/50 but all the rest would require more patience and bigger SL.
  • #1,927
  • Oct 5, 2010 5:25am Oct 5, 2010 5:25am
Here the price seemed to be "constrained" by a previous S/R level, more than by a Moving Average (see the white stars on the left side of the chart).

I took the trade as the M5 was bouncing off the EMA50.

Closed at +20 pips as I was unsure how the previous Swing High Level on M15 would have reacted and wanted to bring home a good move.

We also not far away from the upper Daily TL so any long could now be more risky in my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 96 KB
  • #1,928
  • Oct 5, 2010 6:16am Oct 5, 2010 6:16am
Kostas, by saying the thread seams to be dying I didn't attempt to blame you. I actually thought that you are probably busy with work. But if you're busy it doesn't mean others should stop posting trades with charts and discussing them, during past few days it felt a bit deserted here!
But we're back in action!
  • #1,929
  • Oct 5, 2010 6:21am Oct 5, 2010 6:21am
Quoting Whenever
Here the price seemed to be "constrained" by a previous S/R level, more than by a Moving Average (see the white stars on the left side of the chart).

I took the trade as the M5 was bouncing off the EMA50.

Closed at +20 pips as I was unsure how the previous Swing High Level on M15 would have reacted and wanted to bring home a good move.

We also not far away from the upper Daily TL so any long could now be more risky in my opinion.
Good trade here, I was considering taking it, too. But at the moment I'm training myself not to rush things and take it slowly, so after +30 pips today I just watched it happen from the sidelines.
  • #1,930
  • Oct 5, 2010 7:21am Oct 5, 2010 7:21am
Quoting Mr.Bear
Good trade here, I was considering taking it, too. But at the moment I'm training myself not to rush things and take it slowly, so after +30 pips today I just watched it happen from the sidelines.
I am training too, dear Bear
It's just a demo....

So let's post our trades for the benefit of everybody.
I would also appreciate to see some losing charts, just for studying the mistakes as well as the success..

I'll post them as soon as I get them
(I just wish I could follow more the charts...)

PS: 30 pips is a daily goal! Very good to keep aside and look. I would do the same.
Moreover I think that one of the very precious messages of this strategy is "Patient, wait, wait, wait on the river and pick up your fish when it's just swimming around you"
  • #1,931
  • Oct 5, 2010 9:09am Oct 5, 2010 9:09am
Which currency pair do you recommend to trade on the Australian/ Asian market open time (BEST PAIR FOR THIS SYSTEM) like GBP/USD is suggested.
'To get something you never had, you have to do something you never did.'
  • #1,932
  • Oct 5, 2010 10:21am Oct 5, 2010 10:21am
Quoting crazzzzzy
Which currency pair do you recommend to trade on the Australian/ Asian market open time (BEST PAIR FOR THIS SYSTEM) like GBP/USD is suggested.
I haven't tested any of them, but considering the session overlap I would recommend to try AUD/USD and AUD/JPY.
  • #1,933
  • Edited 10:34am Oct 5, 2010 10:26am | Edited 10:34am
Note: Nothing important about the system in this post. Please skip if you are busy.


Hi Kosta

I am a professional trader for three years. I used to trade "long term" but recently faced tighter stop loss suddenly and started trading with small SL. Applying small SL to longer terms charts naturally made me bleed. So I started looking for short term trading strategies.Before this thread, for a long time, I went through tons of BS on internet (including FF) about trading. Looks like Clay was God. Don’t know about all the history on forex factory forums but gather that he was banned. That's weird. His was the only useful thread in all the forex forums put together IMHO.

I don't get much time to post threads but read them eagerly. However after reading Dance I couldn't control myself from posting a big thank you to Clay and all the continuation forums. Would love if any of you old timers may provide contact of Clay. Rest assured I don't intend to bug him. I need it only to send a big thank you. I must do that to relive myself from the moral indebtedness that I feel towards him.

Cheers
  • #1,934
  • Oct 5, 2010 12:53pm Oct 5, 2010 12:53pm
Quoting Mr.Bear
I haven't tested any of them, but considering the session overlap I would recommend to try AUD/USD and AUD/JPY.

ok, Thanks, what do you think about AUD/CHF?
and what is the best time (GMT) to trade AUD/CHF?
'To get something you never had, you have to do something you never did.'
  • #1,935
  • Oct 5, 2010 11:08pm Oct 5, 2010 11:08pm
Quoting ajaymer
[font=&quot]Note: Nothing important about the system in this post. Please skip if you are busy.


Hi Kosta

I am a professional trader for three years. I used to trade "long term" but recently faced tighter stop loss suddenly and started trading with small SL. Applying small SL to longer terms charts naturally made me bleed. So I started looking for short term trading strategies.Before this thread, for a long time, I went through tons of BS on internet (including FF) about trading. Looks like Clay was God. Don’t know about all the history...
i must also thank clay for this wonderful tactic and methodology!
especially the manual he (or you, if you are reading this) has done is astounding and outstanding! its so honest written and very motivating!
thank you, thank you and again thank you!
hope you are reading this.
trading is like dancing, don't think and just listen to the music!
  • #1,936
  • Oct 5, 2010 11:50pm Oct 5, 2010 11:50pm
addition from yesterday:

bought M15 35/50 and H1 10.
perfect example of following the trend with clays methodology of following the bar lows.
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2010-10-06 um 08.47.32.png Size: 69 KB
trading is like dancing, don't think and just listen to the music!
  • #1,937
  • Oct 6, 2010 12:21am Oct 6, 2010 12:21am
Got on this EU trade this morning:
Confluence of M15 35, H1 10, M5 35/50. This was not a AAA trade because I had a RN (1.3850) right in front, so I was following the trade closely (with M1) in case the price stalled.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 216 KB
  • #1,938
  • Oct 6, 2010 2:24am Oct 6, 2010 2:24am
Quoting crazzzzzy
ok, Thanks, what do you think about AUD/CHF?
and what is the best time (GMT) to trade AUD/CHF?
Well, if we take into account session overlap then CHF isn't the best option. Clay in this session is (was) trading AUD/JPY. But if you want to trade AUD/CHF then you should try it out, check the chart to see how it behaves and at what times it's most active, etc. Do some homework.
  • #1,939
  • Oct 6, 2010 4:52am Oct 6, 2010 4:52am
I thought I was done for the day, but then this came up:
bounce from H1 10, M15 35/50. I used M5 and M1 to get in. Gave me +37p with 6p SL (and I was not even in front of the computer, just entered the trade, used the obvious target of RN & H1 35 and left.)
The catch is that since I was already done for the day, I took this trade with half my normal lot size.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 253 KB
  • #1,940
  • Oct 6, 2010 5:31am Oct 6, 2010 5:31am
Quoting kostas1
I thought I was done for the day, but then this came up:
bounce from H1 10, M15 35/50. I used M5 and M1 to get in. Gave me +37p with 6p SL (and I was not even in front of the computer, just entered the trade, used the obvious target of RN & H1 35 and left.)
The catch is that since I was already done for the day, I took this trade with half my normal lot size.
Great Trade !
Good Job

What MA is the yellow one on you M15 chart ?

Also I noticed you have also other MAs (the gray ones) on the chart. Are they the ones of higher TF, with the indicator posted in the Dance Thread ?

Thank you
2 traders viewing now