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CHOROS System

  • #2,221
  • Oct 21, 2010 2:32am Oct 21, 2010 2:32am
Quoting kostas1
It seems all of you are in a roll. Good job. I did some crazy trading today and broke my $$$/day record, but it was not a pure dance. I just countertraded the quick thrust through H4 10, H1 10,50,62 just before the news. So I shorted at 1.5824 with TP at 1.5770 with maximum lots (SL 14p). I got filled through the news in seconds so now I am just too excited to continue trading (Advice: When you hit big profits in a trade, stop trading immediately otherwise you might give it back. Also stop trading after a big loss since you may try to revenge...
Nice stuff Kostas!! Did you just happen to get your entry almost at the top the candle or was there something else there to give you that entry at that level? All those MAs you mentioned were a little way below that entry level. If not that was nice timing!
  • #2,222
  • Oct 21, 2010 2:49am Oct 21, 2010 2:49am
Quoting occamsrazors
Nice stuff Kostas!! Did you just happen to get your entry almost at the top the candle or was there something else there to give you that entry at that level? All those MAs you mentioned were a little way below that entry level. If not that was nice timing!
Well, I didn't want to talk about it since it was not pure dance but since you asked here are my reasons to short right there:
1. Quick thrust through H4 10 & H1 10/50/62 & M15 35/50 just before the news
2. Already bounced from Daily 10 today
3. Shorted right at 1.5824 since right there there is a confluence of yesterday's TL(green) with a multimonth TL (red). Actually, if you go back in the thread you will see 2-3 posts of mine referencing this important TL and how price seems to react strongly there, like trying to decide if it's going to go through the TL or stay below.

All of these elements made me feel OK for a short with SL of 14p and TP of 54p (target was M15 200SMA). Still the Dance helped me feel better about the decision since with all of those MAs breaking so fast there was a reaction due to happen the other way (as it did).
Attached Image (click to enlarge)
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  • #2,223
  • Oct 21, 2010 3:05am Oct 21, 2010 3:05am
Quoting kostas1
Well, I didn't want to talk about it since it was not pure dance but since you asked here are my reasons to short right there:
1. Quick thrust through H4 10 & H1 10/50/62 & M15 35/50 just before the news
2. Already bounced from Daily 10 today
3. Shorted right at 1.5824 since right there there is a confluence of yesterday's TL(green) with a multimonth TL (red). Actually, if you go back in the thread you will see 2-3 posts of mine referencing this important TL and how price seems to react strongly there, like trying to decide if it's going to go through...
Cool thanks Kostas. Otherwise I thought you would have been a magician to nail that top like that (not that that wouldn't surprise me!).
  • #2,224
  • Oct 21, 2010 3:08am Oct 21, 2010 3:08am
Quoting occamsrazors
Cool thanks Kostas. Otherwise I thought you would have been a magician to nail that top like that (not that that wouldn't surprise me!).
Well, only a few months ago I would have nailed the bottom and shorted there, but the Dance has helped me turn things around. Still this was not a recommended trade unless you have some experience.
  • #2,225
  • Oct 21, 2010 3:25am Oct 21, 2010 3:25am
Quoting kostas1
Well, only a few months ago I would have nailed the bottom and shorted there, but the Dance has helped me turn things around. Still this was not a recommended trade unless you have some experience.
Good one. My consistency in nailing bottoms and shorting there has reduced significantly but i still manage to do that sometimes. hope i forget that art fast.
Making money is easy- Just dont take losing trades
  • #2,226
  • Oct 21, 2010 3:45am Oct 21, 2010 3:45am
Quoting kostas1
Well, only a few months ago I would have nailed the bottom and shorted there, but the Dance has helped me turn things around. Still this was not a recommended trade unless you have some experience.
Nailing bottoms and shorting them lol...I'm glad I've finally found the cure for that!
  • #2,227
  • Oct 21, 2010 4:09am Oct 21, 2010 4:09am
Well, I finally had the patience to wait for a proper Dance entry, and reaped the reward! Hurray! Went north on eu at close of doji 15m 10 and RN.

http://i55.tinypic.com/xdchzc.png
  • #2,228
  • Oct 21, 2010 4:25am Oct 21, 2010 4:25am
Quoting Greenhill
Well, I finally had the patience to wait for a proper Dance entry, and reaped the reward! Hurray! Went north on eu at close of doji 15m 10 and RN.

http://i55.tinypic.com/xdchzc.png
I took that one too Greenhill, I got in a bit later than you 1.4012, left a bit earlier also by the look of your charts, but I made 10 pips all the same.
  • #2,229
  • Oct 21, 2010 4:30am Oct 21, 2010 4:30am
looks like i missed all the action for today, but at lest i didnt shoot myself in the foot. doesnt that count?
funny thing is that i did nail the start of the rise at 1.3950 this morning but i shorted it. and as i look in awe while the price rises i realise that this is a DEMO account..

so i added 2 more things in my list of things to watch for
- never trade before you actualy wake up and finish coffee at least
- always put the demo account on from the night before
  • #2,230
  • Edited 5:22am Oct 21, 2010 4:56am | Edited 5:22am
Not the best time to trade at this hour but just took this one. Find constrainments too inviting! Bad parts- trend might be ending, hourly close is quite some time, and big support down there from higher time frame trendline, PPA and RN. Anyway have moved sl to breakeven. So not worry there. Will wait for close of hour.

Edit 1: Hourly closed in favour. Moving nicely. now 30 pips +. 20 pips locked in. Cant be greedy at this hour. Will book at first sign of trouble.

Edit 2: Got out at +20. Not bad for slow choros

Edit3: Just noticed our threads rating has gone down? Any idea why? Dont think any sane person will give it anything less than 5
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Making money is easy- Just dont take losing trades
  • #2,231
  • Oct 21, 2010 5:17am Oct 21, 2010 5:17am
Quoting Survivor
Huh... would have said impossible few weeks back. But now i know better. But that still sounds tioo fast! Congrats! you too stop trading like kostas?
great to see many fellows are making profits today!

no, i dont stop for the day. its just when i do well, then i go for a walk or play golf to come back fresh.
two days ago for example i made over 170pips because of non limiting my trading.
i think it has to do something with confidence after trading for a long, long time.

but thats how i trade and its definitely a good idea to stop trading after xx-pips profit/day.
and keep in mind:
you only need 20pips/day and risk 0.5% (10pips stop) per trade and you will have after compounding 1000% /year.
trading is like dancing, don't think and just listen to the music!
  • #2,232
  • Oct 21, 2010 5:21am Oct 21, 2010 5:21am
Quoting Scullmeister
Hi guys i have just finished reading through the manual, wrote down a bucket load of notes on this strategy, set my charts up and just watching for now. It seems to be very effective (although i haven't placed a trade yet). I notice that trading this live is slightly different in that when live trading, the wick doesn't quite touch the MA's (sometimes), then bounces, but then after a few candles it does look like it did touch it (obviously because the market has moved so the MA has followed the price either up or down). So although the history/back...
i just take the touches with 8-10pips stop, seldom 12pips.
and then i wait.
in about 30-40% i will have a loss
in 60-70% i will have a nice profit.
trading is like dancing, don't think and just listen to the music!
  • #2,233
  • Oct 21, 2010 5:34am Oct 21, 2010 5:34am
Quoting birdland
i have to show you my incredible start in the day!
3 trades:
1. short m15 10, RN
2. long H1 35
3. short m15 35

so far +82pips!

i think i will go for a round golf now!
Birdland i was trading same time and coudnt catch one of them . Would you mind explaining this to me please:

1. this one is as abvious as nose on my face
2. As i see it, price never actually touched H1 35. Our charts are different? Or you zoomed down to 5M and saw price action near this level.
3. Why you didnt sell at 15M 50MA- there was confluence of hourly MAs too. (I sold and got stopped) What made you wait till 35MA?

Asking these so that i can see why i traded same candles so poorly. I think this will be helpful to other members too.
Making money is easy- Just dont take losing trades
  • #2,234
  • Oct 21, 2010 5:43am Oct 21, 2010 5:43am
Quoting Survivor
Birdland i was trading same time and coudnt catch one of them . Would you mind explaining this to me please:


3. Why you didnt sell at 15M 50MA- there was confluence of hourly MAs too. (I sold and got stopped) What made you wait till 35MA?

Asking these so that i can see why i traded same candles so poorly. I think this will be helpful to other members too.
Just for info Survivor I too sold at 15M 50MA. I had a 15 pip SL which did not get hit as price only moved 10 pips against me from 1.5813.
  • #2,235
  • Oct 21, 2010 5:50am Oct 21, 2010 5:50am
Quoting simmo24
Just for info Survivor I too sold at 15M 50MA. I had a 15 pip SL which did not get hit as price only moved 10 pips against me from 1.5813.

I normally use very tight sl in such confluence areas beacuse if it breaks then price can just shoot against me. Anyway wrong Sl. not once but twice today. Later in the day i sold GU at 92 Sl 01 Went to 03 high and then just CRASHED . Bad things happen. But still want to understand how birdland thinks.
Making money is easy- Just dont take losing trades
  • #2,236
  • Oct 21, 2010 6:06am Oct 21, 2010 6:06am
Quoting birdland
i just take the touches with 8-10pips stop, seldom 12pips.
and then i wait.
in about 30-40% i will have a loss
in 60-70% i will have a nice profit.
Thanks mate - and do you literally take it as soon as it touches or do you wait for the next candle to open? Many thanks.
Trade the price action, not the cash!!!
  • #2,237
  • Oct 21, 2010 6:06am Oct 21, 2010 6:06am
Quoting Survivor
Birdland i was trading same time and coudnt catch one of them . Would you mind explaining this to me please:

1. this one is as abvious as nose on my face
2. As i see it, price never actually touched H1 35. Our charts are different? Or you zoomed down to 5M and saw price action near this level.
3. Why you didnt sell at 15M 50MA- there was confluence of hourly MAs too. (I sold and got stopped) What made you wait till 35MA?

Asking these so that i can see why i traded same candles so poorly. I think this will be helpful to other members...
well, it was a good day so far and to be honest LUCK helps on these days (dont missunderstand me, not overall)

1. for me it was obvious after watching 6 or maybe 8 month the GU only with the dance method. it comes with excessive observation, also on saturdays and sundays;-)

2. the low on my chart was 5775,50. my limit was 5775,50. lucky.
my fill was 5775,32...
the 35ema was @5774,80. i tend to give my limit 0.5-1pip above the
touch, when i really want something.

3. because GU likes to go to the last available MA! thats his personallity.

i hope to helped you a little bit.
but all in all make your observations and you will find after a few months watching all day long something which will be your edge!
trading is like dancing, don't think and just listen to the music!
  • #2,238
  • Oct 21, 2010 6:17am Oct 21, 2010 6:17am
Quoting birdland
well, it was a good day so far and to be honest LUCK helps on these days (dont missunderstand me, not overall)

1. for me it was obvious after watching 6 or maybe 8 month the GU only with the dance method. it comes with excessive observation, also on saturdays and sundays;-)

2. the low on my chart was 5775,50. my limit was 5775,50. lucky....

Thanks a ton mate. Was great help. Now why i see i should concentrate on one currency. I keep jumping between EU and GU. Whats worse, sometimes i take trades even in any major when i see a solid constrainment. Will try only one pair so i can see how it acts.
Making money is easy- Just dont take losing trades
  • #2,239
  • Oct 21, 2010 6:19am Oct 21, 2010 6:19am
Quoting Scullmeister
Thanks mate - and do you literally take it as soon as it touches or do you wait for the next candle to open? Many thanks.
90% i take it when it touches.
i give you a good example a few days ago:

the market touched the 10EMA and i got filled at 6058.
immediatelly the market shot up and made a nice pin bar on the M5.(i marked it on the chart)
many will buy after such a nice P/A, but i could already sell for +18pips, after i saw that the move halted.

to trade right off the touch has many advantages, but also disadvantages.
my losses are often occurring after 1-2 minutes or less.
but i accept this, because its a lost bet-thats it! and i know it very fast.
Attached Image
trading is like dancing, don't think and just listen to the music!
  • #2,240
  • Oct 21, 2010 6:27am Oct 21, 2010 6:27am
Quoting Survivor
Thanks a ton mate. Was great help. Now why i see i should concentrate on one currency. I keep jumping between EU and GU. Whats worse, sometimes i take trades even in any major when i see a solid constrainment. Will try only one pair so i can see how it acts.
yes, thats kostas main idea and it made to me also sense after loosing long time like him.
we are survivors.
and there are not many around, i know that. so many trader friends quit long time before.

i am trading a long, long time the markets.
but in trading "dance" i am just a beginner and have had to be patient and also tomorrow i will be a beginner and learning hopefully something.
this is for me the most challenging part to accept this after so much experience.
trading is like dancing, don't think and just listen to the music!
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