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CHOROS System

  • #2,241
  • Oct 21, 2010 8:45am Oct 21, 2010 8:45am
Quoting birdland
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.
Cheers Birdman that is a great help, much appreciated.
Trade the price action, not the cash!!!
  • #2,242
  • Oct 21, 2010 10:38am Oct 21, 2010 10:38am
Quoting kostas1
It seems all of you are in a roll. Good job. I did some crazy trading...
BUT:

For every winner Kostas1 of the world there is a loser Frank.

I took the same trade but I just shorted at 1.5807 - 50 ΕΜΑ. My stop loss was at 1.5827 (20 pips) and my take profit at 1.5770. Of cource price rose until 1.5828 and for only 1 pip my stop loss got hit. - 20 pips instead of + 37. (demo account thankfully)

Whatever...

The important thing is that this system works, and works really well.

From my calculations I think that a trader could make 179 pips at GBP/USD in 5 trades and 185 pips at EUR/USD in 4 trades today simple by following the basics rules on the 15 min chart. Even with a 20 pips take profit a trader could still make 60 and 45 pips.

To all traders. Keep up the good work.

Μπράβο Κώστα. Συνέχισε την καλή σου πορεία. Μαθαίνω πολλά από τα post σου. Ελπίζω να τα καταφέρω και εγώ.
  • #2,243
  • Oct 21, 2010 1:56pm Oct 21, 2010 1:56pm
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!


I dont understand how you took the LONG TRADE... what did you look at?
'To get something you never had, you have to do something you never did.'
  • #2,244
  • Oct 21, 2010 2:22pm Oct 21, 2010 2:22pm
Quoting crazzzzzy
I dont understand how you took the LONG TRADE... what did you look at?
I think that he took the long trade based in the bounce off the SMA35 in H1...it would be in the ping pong zone and the target would be the EMA 50 in H1...It's a trade only for avanced dancers.

Am I right birland??

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #2,245
  • Edited 10:37pm Oct 21, 2010 9:37pm | Edited 10:37pm
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.
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....
Hi Birdland. I'm finding your posts very helpful. Can I ask what percentage of the time you are using limit orders for entries? Is it your main way of entering or do you prefer using them only specific types of trades eg bounces off the M15 35/50 when they are close together and PA may spike up to them, and then use market orders for bounces off the 10MA?
  • #2,246
  • Oct 22, 2010 12:01am Oct 22, 2010 12:01am
Quoting FrankBlack
BUT:

For every winner Kostas1 of the world there is a loser Frank.

I took the same trade but I just shorted at 1.5807 - 50 ΕΜΑ. My stop loss was at 1.5827 (20 pips) and my take profit at 1.5770. Of cource price rose until 1.5828 and for only 1 pip my stop loss got hit. - 20 pips instead of + 37. (demo account thankfully)

Whatever...

The important thing is that this system works, and works really well.

From my calculations I think that a trader could make 179 pips at GBP/USD in 5 trades and 185 pips at EUR/USD in 4 trades today...
Stay focused and disciplined. Follow just the basic rules in one currency and you will eventually start winning. Birdland is a good example of someone who put the hard work, stayed focused and I see that he has started reaping the profits.

P.S. Where did you learn Greek?
  • #2,247
  • Oct 22, 2010 12:03am Oct 22, 2010 12:03am
Quoting nando_rich
I think that he took the long trade based in the bounce off the SMA35 in H1...it would be in the ping pong zone and the target would be the EMA 50 in H1...It's a trade only for avanced dancers.

Am I right birland??

Regards.
absolutly, thx!

normally i dont take these trade against the M15 trend, but this time i was confident to take it because i have observed this pattern several times before.
as i said confidence in doing this comes from excessive observation.
i sit every day from 7h-18h in front of my screen and do some homework on the weekends.
trading is like dancing, don't think and just listen to the music!
  • #2,248
  • Oct 22, 2010 12:08am Oct 22, 2010 12:08am
Quoting occamsrazors
Hi Birdland. I'm finding your posts very helpful. Can I ask what percentage of the time you are using limit orders for entries? Is it your main way of entering or do you prefer using them only specific types of trades eg bounces off the M15 35/50 when they are close together and PA may spike up to them, and then use market orders for bounces off the 10MA?
thx,
i am using ALWAYS limit orders when entry.
because i use small stops, i want to be sure to get a good price.

but there are situations, for example when i exit trades then sometimes i just buy or sell or use a trailing stop and then this will cause bad fills. but thats ok.
trading is like dancing, don't think and just listen to the music!
  • #2,249
  • Oct 22, 2010 12:21am Oct 22, 2010 12:21am
Quoting birdland
thx,
i am using ALWAYS limit orders when entry.
because i use small stops, i want to be sure to get a good price.

but there are situations, for example when i exit trades then sometimes i just buy or sell or use a trailing stop and then this will cause bad fills. but thats ok.
Thx Birdland, thats very interesting to know
  • #2,250
  • Oct 22, 2010 1:32am Oct 22, 2010 1:32am
Quoting birdland
thx,
i am using ALWAYS limit orders when entry.
because i use small stops, i want to be sure to get a good price.

but there are situations, for example when i exit trades then sometimes i just buy or sell or use a trailing stop and then this will cause bad fills. but thats ok.
Sorry Birdland, one more question on this if I may. In your post on 19 Oct you said the following regarding the entry you took :

Quoting birdland
very fast and easy +44pips,
and before +31 pips,
all with EMA10 touch
just followed the M1 and any sign of strength i used to buy.
I also use the M1 to help get/refine an entry around the MAs. But I find it difficult to use limit orders in these situations, just from the lack of time to react, setup and enter. Often PA has moved on by that time. Were you managing to use limit orders for these entries as well? I'm guessing you don't use an MT4 broker?
  • #2,251
  • Oct 22, 2010 2:24am Oct 22, 2010 2:24am
Quoting occamsrazors
Sorry Birdland, one more question on this if I may. In your post on 19 Oct you said the following regarding the entry you took :



I also use the M1 to help get/refine an entry around the MAs. But I find it difficult to use limit orders in these situations, just from the lack of time to react, setup and enter. Often PA has moved on by that time. Were you managing to use limit orders for these entries as well? I'm guessing you don't use an MT4 broker?
no prob at all! we are all here to help and sometimes ask silly or whatever questions (there are no really silly q.)

i used them to buy BACK a short. and therefore i ment that any sign of strength on the M1 would trigger a buy back of the short.

and no i dont use MT4, because most MT4 brokers brokers are market maker and therefore the broker is your enemy and wants you to loose.
trading is like dancing, don't think and just listen to the music!
  • #2,252
  • Oct 22, 2010 2:53am Oct 22, 2010 2:53am
this is NOT for starters with dance:

this is how i use a loss as an INFORMATION.

i went long on the ema10 touch, resulted in a -13.2 loss, my stop was 10pips below, 3.2 pips slippage!
this was an useful information for me. when i get such a slippage something will happen on the other side.
i quit my buy of the long sma35 AND went short on the pullback of the SMA35.

closed the short trade (which is NOT a dance trade) with +41pips.
reason: long extended bar
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2010-10-22 um 09.49.11.png Size: 50 KB
trading is like dancing, don't think and just listen to the music!
  • #2,253
  • Oct 22, 2010 2:56am Oct 22, 2010 2:56am
Hi Guys:

Today i had a bad entry long on ema10 touch. It was a bad entry becouse I was against Daily pivot + RN. The trend in H1 and H4 was short...

After I got in again based on h4 Touch ema10 + RN bounce + M5 pinbar.

My day is in +20pips so I have decided stop for today.

Better I'm going to show you the pic, because my english it's not very good...



Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: 22-10-2010_ema10_h4_touch.gif Size: 83 KB
"Being picky only cost your time - not MONEY"...Hans
  • #2,254
  • Oct 22, 2010 2:58am Oct 22, 2010 2:58am
Quoting birdland
this is NOT for starters with dance:

this is how i use a loss as an INFORMATION.

i went long on the ema10 touch, resulted in a -13.2 loss, my stop was 10pips below, 3.2 pips slippage!
this was an useful information for me. when i get such a slippage something will happen on the other side.
i quit my buy of the long sma35 AND went short on the pullback of the SMA35.

closed the short trade (which is NOT a dance trade) with +41pips.
reason: long extended bar
I did the sames trades...LOL

I think that the second was a Dance trade based in H4 and M5 chart....the reasons are in my chart.
"Being picky only cost your time - not MONEY"...Hans
  • #2,255
  • Oct 22, 2010 3:04am Oct 22, 2010 3:04am
Perfect touch trade in m15 happened while I was writing...I was good for 20pips minimun...

Someone took it?




Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #2,256
  • Oct 22, 2010 3:06am Oct 22, 2010 3:06am
Very interesting Birdland. What the slippage is hinting at is a very strong demand for short positions at that moment. That is a nice realisation and helps me understand the micro market structure. Helped me to put some pieces together thanks.

Yes Nando I took it for 28!
All that matters is winning the week
  • #2,257
  • Oct 22, 2010 3:07am Oct 22, 2010 3:07am
Quoting nando_rich
I did the sames trades...LOL

I think that the second was a Dance trade based in H4 and M5 chart....the reasons are in my chart.
great!
i dont use the H4 because that is confusing me too much, getting old
trading is like dancing, don't think and just listen to the music!
  • #2,258
  • Oct 22, 2010 3:27am Oct 22, 2010 3:27am
Hello and thanks everyone for sharing your trades. I'm new in the thread but have some time playing the "game" so far...

For the others newbies like me, i want to recommend to do their homework and get some precious screen time with the back tester, doing it tick by tick... I also have made some tables with the profits that have earned on the back test, so to be honest with my self. This is helping me a lot, and letting me to observe where i had a good trades and where bad...

Quoting nando_rich
Perfect touch trade in m15 happened while I was writing...I was good for 20pips minimun...

Someone took it?




Regards.

It also touched perfect the 50 EMA on 5 min chart and the 10 EMA on 1H... I also lost it, because i was reading back the thread ... My target would be around the daily 50 EMA at about 1.5677, which is about 30 pips, with a stop of just 9-10 pips... The rules are giving us just astonishing signals for an entry... Good job for the ones who entered

So what, next
Better to lose opportunity, rather than capital !
  • #2,259
  • Oct 22, 2010 5:00am Oct 22, 2010 5:00am
Quoting birdland
great!
i dont use the H4 because that is confusing me too much, getting old
Thanks for that. Even i am finding myself confused and not takuing good trades because i am watching too many time frames and whole analysis is always confusing. Will try removing daily and H4 from my setup.

However, i would still think you mark off S/R levels from higher time frames?
Making money is easy- Just dont take losing trades
  • #2,260
  • Oct 22, 2010 5:05am Oct 22, 2010 5:05am
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...
Hi SM. Here is my newbie advice- Stay away from touch trades till you gain more experience. Even the manul says it needs more experience. I burned many pips before decided i am not yet ready for touch trades. Constrainment trades are much easier to detect for newbies. And there are plenty of opportunities. Of course I hope some day i would be making big pips like Kostas But better to start slow then to blow account.
Making money is easy- Just dont take losing trades
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