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CHOROS System

  • #1,961
  • Oct 7, 2010 2:10am Oct 7, 2010 2:10am
Quoting kostas1
Not really since my new MM plan has withdrawals in regular intervals (essentially, I withdraw half of profits and let the other half for the account to grow). My account is in the 5 digit range and hope to reach 33,000 before Christmas (at that point I will stop the aggressive 3% and stay with 1000E daily profit).
Thanks for your reply. Just my personal opinion, if you have the ability to keep a 3% or more daily growth, why restrict yourself to a cap amount?
  • #1,962
  • Oct 7, 2010 2:27am Oct 7, 2010 2:27am
Quoting kk007
Thanks for your reply. Just my personal opinion, if you have the ability to keep a 3% or more daily growth, why restrict yourself to a cap amount?
I didn't say I am going to restrict myself to that forever.
I have to let some more time pass to convince myself that I am consistent. If that proves to be the case, I am sure at some point I will be tempted to further increase lot size. But I don't want to get ahead of myself. First target 10,000 was achieved. Second target 33,000 and trade 4-5 lots with 30pips daily. When I reach that I will have to reassess my situation and targets.
  • #1,963
  • Oct 7, 2010 2:30am Oct 7, 2010 2:30am
Quoting kostas1
I didn't say I am going to restrict myself to that forever.
I have to let some more time pass to convince myself that I am consistent. If that proves to be the case, I am sure at some point I will be tempted to further increase lot size. But I don't want to get ahead of myself. First target 10,000 was achieved. Second target 33,000 and trade 4-5 lots with 30pips daily. When I reach that I will have to reassess my situation and targets.
Thanks for sharing.
  • #1,964
  • Oct 7, 2010 2:34am Oct 7, 2010 2:34am
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 on...
Hi ajaymer,
I wouldn't want to post Clay's contact info without his permission. But just today I received the following from him:

"Subject:Recent post from ajaymer

Please just tell him thank you, I really enjoy seeing the work continue and progress the way it has with so many learning and profiting. That's all the thanks I need, and I am certainly NOT "god" but do feel he was leading me in the creation of this strategy.

God bless,
Clay"
  • #1,965
  • Oct 7, 2010 4:03am Oct 7, 2010 4:03am
has anybody done the ema10 touch move before the rate decision?
for me it was too risky, you never know before...
trading is like dancing, don't think and just listen to the music!
  • #1,966
  • Oct 7, 2010 4:10am Oct 7, 2010 4:10am
Quoting kostas1
Same trade as nando_rich, but my entry and exits are a little different. I waited for the touch on the M15 35to get in.
1st TP with big lot = +9p
2nd TP with rest of the lot= +15p (I could have left it for more).
Hello Kostas,

I also asked me sometimes: "will this be the rigth Touch, or will the price go further and test the next MAs ?"

For this reason I think we follow the P/A on M5 and M1.

I would like to learn more about this point, so I wanted to ask you: what actually told you to wait for the next MA touch, instead of the EMA10 ?

Here below I searched the M1 action in Nando_Rich Trade and your one.
Also in Nando's one we had a M1 action in direction of the previous trend.
Why would you have not token that ?

Thank you all (and very warm welcome back to Nando !!!)

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  • #1,967
  • Oct 7, 2010 5:10am Oct 7, 2010 5:10am
Quoting Whenever
Hello Kostas,

I also asked me sometimes: "will this be the rigth Touch, or will the price go further and test the next MAs ?"

For this reason I think we follow the P/A on M5 and M1.

I would like to learn more about this point, so I wanted to ask you: what actually told you to wait for the next MA touch, instead of the EMA10 ?

Here below I searched the M1 action in Nando_Rich Trade and your one.
Also in Nando's one we had a M1 action in direction of the previous trend.
Why would you have not token that ?

Thank you all (and very warm welcome...
As I said before, when MAs or other points of action (RN, pivot, etc.) are close together, most of the times price will check all of them before it bounces. So I was just waiting for the M15 35 to be touched before the trade (actually also was looking at the H1 62 which was 3 pips close to M15 35). This is one of my observations and it is true for GU. I haven't checked if it is valid for EU.
  • #1,968
  • Edited 12:59pm Oct 7, 2010 11:42am | Edited 12:59pm
Quoting kostas1
Hi ajaymer,
I wouldn't want to post Clay's contact info without his permission. But just today I received the following from him:

"Subject:Recent post from ajaymer

[color=DarkGreen][b]Please just tell him thank you, I really enjoy seeing the work...
Thanks kostas for the reply. And good to know clay is good and kicking. God bless him. Just felt moral obligation to show my gratitude to him for finding and sharing this system. One can’t be too thankful after amount of research I have been doing for last three months. Would love to start making whatever small amount of contribution i can make. Unfortunately, I am yet to finish even the original dance thread. But just for starter got 50 clean pips today using original dance in today's London session. Wonder how much better this improved (I suppose) thread will be [IMG]file:///C:/DOCUME%7E1/AJAYMI%7E1/LOCALS%7E1/Temp/msoclip1/01/clip_image001.gif[/IMG]Will post my trades if it suits everyone because i am still using the original system. Else will wait till I catch up with you all.

Cheers

Edit: Kotas, anyway to contact you? just email or PM in this forum? Just so I can keep irrelevant things out of threads as Clay and you wish. I agree to original posting rules of Clay and feel a responsibility to not disturb serious researchers with irrelevant details. (I have faced the pain of reading through thousands of forums myself)

Edit 2: BTW I have soooo many questions about the system. Being a trader creates its own problems I guess. Maybe we get too much of exposure to accept and apply a system mechanically. I will ask two of major ones here just in case any of you are interested in answering?

1. I am unable to accept this " no trading during news” rule emotionally. Of course i am following it but am not able to believe it from my heart. As I see it, prices discount everything ( I used to use classical technical analysis ). If that’s true then we assume that someone somewhere knows the news before it becomes public and he has already influenced prices to reflect the news? I have observed news and data mostly supporting the technical. Rarely, they come against technicals. Today, cable was bullish before rate - It just jumped up after data. Cant we just follow the technicals and have faith that PA is actually including data about to be released?

2. I worry about the timing and sessions rule in original. I have always believed that if something is worth putting your money on it then it must ALWAYS work. Else it might be just an optimisation. Mathematically, One can optimise an entry and exit for any chart. That would give amazing results in back testing. But what tells good systems form bad systems is ability to withstand changes in market. What if from tomorrow London starts behaving like Asia? Should a strong system fail?

Just theoretical questions which might have already been answered. Please ignore if answered. (I am reading each and every post carefully- so I will get there soon) I am myself a trader and know the pressures we face and don’t intend to be burden around here.
  • #1,969
  • Oct 7, 2010 1:44pm Oct 7, 2010 1:44pm
Quoting birdland
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.

Hi birdland

I must comment on that motivating part. To read through his manual was the AHA moment. i was in serious trouble before i met him So i guessed posters will forgive my diversion and posted what i felt. Maybe i had read too much crap before reaching here but I must say it feels very motivating! I am not yet quitting trading atleast!
  • #1,970
  • Oct 7, 2010 11:32pm Oct 7, 2010 11:32pm
A little early for me to trade but I won't have time in front of the computer the rest of the day. So I took the following short:
Bounce from confluence of:
1. H4 10
2. H1 35/50
3. RN
I entered using the M5 (bounce from 10,35). Target +8p for the big part of the lot, +28p for the small part. The reason for the quick profit was that I needed to leave the computer, so I took a quick +8p and left a small part without me in front of the screen. If I can get one more like that I will be done for the day.
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  • #1,971
  • Oct 7, 2010 11:57pm Oct 7, 2010 11:57pm
Quoting kostas1
A little early for me to trade but I won't have time in front of the computer the rest of the day. So I took the following short:
Bounce from confluence of:
1. H4 10
2. H1 35/50
3. RN
I entered using the M5 (bounce from 10,35). Target +8p for the big part of the lot, +28p for the small part. The reason for the quick profit was that I needed to leave the computer, so I took a quick +8p and left a small part without me in front of the screen. If I can get one more like that I will be done for the day.
wow, it was a clear uptrend if you look only on the M15 (all MAs 10,35,50 were on top of each other).
something advanced which i avoid at this time.
trading is like dancing, don't think and just listen to the music!
  • #1,972
  • Oct 8, 2010 12:08am Oct 8, 2010 12:08am
Quoting ajaymer
1. I am unable to accept this " no trading during news” rule emotionally. Of course i am following it but am not able to believe it from my heart. As I see it, prices discount everything ( I used to use classical technical analysis ). If that’s true then we assume that someone somewhere knows the news before it becomes public and he has already influenced prices to reflect the news? I have observed news and data mostly supporting the technical. Rarely, they come against technicals. Today, cable was bullish before rate - It just jumped...
1.well, the "no trading during the news" rule kept me from making 50pips yesterday during the rate decision news

so for ME i have modified the rule: do i get into the trade 5-10 minutes before the news AND i have some profit (5-10pips), i will risk the news and stay in the trade. often the best trades are occuring right before news, when insiders are already positioned.
(yesterday it was 2 minutes before the news, so i couldnt trigger, which was ok)

2. i found the market is completely in another shape AFTER the london opening then BEFORE. so therefore i have adapted when trading before the market opens in london.
it comes just from my observation, that the market is different before london, after london AND after US-opening.
and after london is closed the market is dead.

so the most important thing is the speed after the signal.
it is different at any timestage, so these are more and more important informations for me (just for the GU).

hope to said it clear and ask if you dont understand anything
trading is like dancing, don't think and just listen to the music!
  • #1,973
  • Oct 8, 2010 12:28am Oct 8, 2010 12:28am
Quoting birdland
1.well, the "no trading during the news" rule kept me from making 50pips yesterday during the rate decision news

so for ME i have modified the rule: do i get into the trade 5-10 minutes before the news AND i have some profit (5-10pips), i will risk the news and stay in the trade. often the best trades are occuring right before news, when insiders are already positioned.
(yesterday it was 2 minutes before the news, so i couldnt trigger, which was ok)

2. i found the market is completely in another shape AFTER the london opening then...
With oanda I can't stay in the trade during the news. The spread usually increases to 20 pips It stopped me always....What is your broker??

You mean you do not trades before the opening of London?

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #1,974
  • Oct 8, 2010 12:42am Oct 8, 2010 12:42am
Quoting nando_rich
With oanda I can't stay in the trade during the news. The spread usually increases to 20 pips It stopped me always....What is your broker??

You mean you do not trades before the opening of London?

Regards.
i use ODL, ACM and IB.
oanda is what i know a market maker. so you are dealing against your broker.
i would rather look for a broker, where you are dealing with the market, the interbankmarket. the three above are doing this.

------------

no, i trade before and after london opening, BUT i trade these times different.
for example i dont like the 10EMA touches shortly after london opening. and i am more allertet because of the speed the GU can go from A to B.
trading is like dancing, don't think and just listen to the music!
  • #1,975
  • Oct 8, 2010 12:42am Oct 8, 2010 12:42am
Quoting ajaymer
1. I am unable to accept this " no trading during news” rule emotionally. Of course i am following it but am not able to believe it from my heart. As I see it, prices discount everything ( I used to use classical technical analysis ). If that’s true then we assume that someone somewhere knows the news before it becomes public and he has already influenced prices to reflect the news? I have observed news and data mostly supporting the technical. Rarely, they come against technicals. Today, cable was bullish before rate - It just jumped up after...
Some interesting points my friend.
I also observe that most times news have been discounted by the market. Somehow the news leak out. It's more rare to see that the price will move according to what you would expect with positive/negative news. So what I do is I try to get a good position half hour before the news. If I get this, I will TP for half my trade and then move the SL close to BE before the news. When the news come out if the price moves in a direction straight away I capture many pips with half my lot. Most times the news will create big noise and my trade is stopped out.
  • #1,976
  • Oct 8, 2010 12:43am Oct 8, 2010 12:43am
ajaymer,
you described yourself a trader.
may i ask you how long you are trading?
trading is like dancing, don't think and just listen to the music!
  • #1,977
  • Oct 8, 2010 1:27am Oct 8, 2010 1:27am
by the way.
i took the M15 35 touch, but it didnt work out.
-3pips, i didnt wait for my stop after i saw there is lot of weakness.
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trading is like dancing, don't think and just listen to the music!
  • #1,978
  • Oct 8, 2010 2:05am Oct 8, 2010 2:05am
Quoting birdland
ajaymer,
you described yourself a trader.
may i ask you how long you are trading?
Three years. But this 5 minutes chart thing is completely new to me. Mostly used classical chart formations on 4 hourly and above.
  • #1,979
  • Edited 2:27am Oct 8, 2010 2:05am | Edited 2:27am
Quoting birdland
by the way.
i took the M15 35 touch, but it didnt work out.
-3pips, i didnt wait for my stop after i saw there is lot of weakness.

Thanks for share the bad trades too...If everyone did the same...All learn more...It is also a humililty sign.

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #1,980
  • Oct 8, 2010 2:07am Oct 8, 2010 2:07am
Posible touch 35-50 + EMA10 H1 Trade on GU?? The ema10 is turn over how clay had say.

Regards.
"Being picky only cost your time - not MONEY"...Hans
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