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CHOROS System

  • #2,261
  • Oct 22, 2010 5:09am Oct 22, 2010 5:09am
Quoting Survivor
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?
sure, the higher TFs are very important for S/R.
for example today we are in a ping-pong modus due tu the daily chart.
so going short today has less potential from the probability few.
trading is like dancing, don't think and just listen to the music!
  • #2,262
  • Edited 6:03am Oct 22, 2010 5:42am | Edited 6:03am
Hi All,

Also very new to "The Dance" I took this with 13 pips profit. There was a short touch on M15 on the EMA 50, which I took, then price was stalling around the 1.390 mark, where I ended up taking profits. It was also a touch on the 1H EMA 50 and some monthly resistance on the Daily at R1.

Any comments would be welcomed since I am still learning the "Dance" and loving it!

Thanks everyone, great thread.
Attached Image (click to enlarge)
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  • #2,263
  • Oct 22, 2010 7:01am Oct 22, 2010 7:01am
Quoting behringer
Hi All,

Also very new to "The Dance" I took this with 13 pips profit. There was a short touch on M15 on the EMA 50, which I took, then price was stalling around the 1.390 mark, where I ended up taking profits. It was also a touch on the 1H EMA 50 and some monthly resistance on the Daily at R1.

Any comments would be welcomed since I am still learning the "Dance" and loving it!

Thanks everyone, great thread.

Glad you made some profit. From my brief experience with the dance, however, I would say this was not a strong signal, because the m15 35/50 lines were almost horizontal, h1 was murky, and m5 was all over the place. Still, a profit is a profit!
  • #2,264
  • Oct 22, 2010 7:07am Oct 22, 2010 7:07am
Quoting Greenhill
Glad you made some profit. From my brief experience with the dance, however, I would say this was not a strong signal, because the m15 35/50 lines were almost horizontal. Still, a profit is a profit!
Thanks Greenhill, yes good point, I had forgotten about that at the time of this trade. I will go back and review the manual again. I really appreciate your comment. Thanks
  • #2,265
  • Oct 22, 2010 7:47am Oct 22, 2010 7:47am
Interesting system, if I may how many people are actually making a constant profit using this system?
  • #2,266
  • Oct 22, 2010 8:14am Oct 22, 2010 8:14am
Quoting Saidar
Interesting system, if I may how many people are actually making a constant profit using this system?
I hope that I will, but I'm just finishing my second week of practice. Check back in a few months.
  • #2,267
  • Oct 22, 2010 8:21am Oct 22, 2010 8:21am
Quoting Saidar
Interesting system, if I may how many people are actually making a constant profit using this system?
i guess not many.
check out the fellows who have been following this thread from the start.
most of them, about 90%, dont show up here again.
i guess, in a few weeks or so most of the excited&hot guys&girls will also not posting and watching this thread.

that means to me:
a) they lost constantly so they lost interest and gave up.
b) they lost constantly so they lost interest and looked for a new exciting gameplan.

somebody who wins knows that you have to constantly adapt to changes and learn, learn and learn.
therefore you need the "home-thread" for dance.
and this is now kostas dance thread.

if you know a thread regarding this in another forum, please tell me
trading is like dancing, don't think and just listen to the music!
  • #2,268
  • Oct 22, 2010 8:42am Oct 22, 2010 8:42am
Maybe I'm wrong, but I'm not dancing here; don't trust the price action. Possible rejection at the RN and from previous high. I did take a small trade from the 15m 35/50, but now I'll wait either for a reversal or for the price to break the high.

http://i54.tinypic.com/98c2e0.png
  • #2,269
  • Oct 22, 2010 10:47am Oct 22, 2010 10:47am
Quoting Greenhill
I hope that I will, but I'm just finishing my second week of practice. Check back in a few months.
Ok I can assure you that this system is well worth it. I programmed the 10EMA touch rules into an EA to do some statistical analysis on the propability of a touch trade being succesful or not. With little filters I was succesful at 48% winning trades with a stop loss of 15 pips, and 75% winning trades with a stop loss following a 13 period donchian channel.

That is a stupid robot doing the trades trading through porcupines and news and everything so a human trader can increase those ods and manage the trade to squeeze every pip out of it.

I'm hooked and will study this in detail for the next few months.

The immediate problem with this system is the fact that you have to sit in front of your PC for hours on end and monitor the markets. Few people will be able to cope with that extreme boringness and will make them impatient and take the wrong trades. It will also make some people miss great opportunities.

A good solution for this will be to program an indi that alerts you whenever a good opportunity is present or approaching. If I use this system that is exactly what I'm going to do first
  • #2,270
  • Oct 22, 2010 11:08am Oct 22, 2010 11:08am
Quoting Saidar
Ok I can assure you that this system is well worth it. I programmed the 10EMA touch rules into an EA to do some statistical analysis on the propability of a touch trade being succesful or not. With little filters I was succesful at 48% winning trades with a stop loss of 15 pips, and 75% winning trades with a stop loss following a 13 period donchian channel.

That is a stupid robot doing the trades trading through porcupines and news and everything so a human trader can increase those ods and manage the trade to squeeze every pip out of it.

I'm...
As soon as I stumbled on this system I saw that it was very solid, which is why I'm willing to spend a lot of effort to learn and master it. It is great as a day trading system all on it's own, but it meshes really well and provides great entries for the cycle system I've been studying and trading for the last 1 1/2 years.
  • #2,271
  • Oct 22, 2010 11:16am Oct 22, 2010 11:16am
Quoting Saidar
Ok I can assure you that this system is well worth it....
let me know if you found a way to make a robot or EA out of it, because then i will think about to move to another methodology.
i am serious, if you or somebody else can programm it i really in doubt about the edge of the system.
trading is like dancing, don't think and just listen to the music!
  • #2,272
  • Oct 22, 2010 11:21am Oct 22, 2010 11:21am
Quoting birdland
let me know if you found a way to make a robot or EA out of it, because then i will think about to move to another methodology.
i am serious, if you or somebody else can programm it i really in doubt about the edge of the system.
The rules can be programmed up to 95% accurate in my opinion, but when NOT to trade even if all the rules are met is the problem for EA's.

That is the challenge to overcome in any EA and where the human brain will always surpass a computer.

What I sometimes do is write EA's, but with manual execution. The trade first needs human approval before it is executed.

Neural networks are a technique to mimic the human brain but are not nearly powerful enough.
  • #2,273
  • Oct 22, 2010 12:03pm Oct 22, 2010 12:03pm
Quoting Saidar
The rules can be programmed up to 95% accurate in my opinion, but when NOT to trade even if all the rules are met is the problem for EA's.

That is the challenge to overcome in any EA and where the human brain will always surpass a computer.

What I sometimes do is write EA's, but with manual execution. The trade first needs human approval before it is executed.

Neural networks are a technique to mimic the human brain but are not nearly powerful enough.
I think it will be interesting to see what type of alarm can be set very close to the rules ... anything that can facilitate our work to the day traders will be welcome ... please let us know your progress.

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #2,274
  • Oct 22, 2010 12:44pm Oct 22, 2010 12:44pm
Quoting nando_rich
I think it will be interesting to see what type of alarm can be set very close to the rules ... anything that can facilitate our work to the day traders will be welcome ... please let us know your progress.

Regards.
yes, me too.
sounds interesting if there is some help to support human decisions.
in the end i think human decision is the strenght of this method, but we will know more after your research. i am open and curious.
trading is like dancing, don't think and just listen to the music!
  • #2,275
  • Oct 22, 2010 1:05pm Oct 22, 2010 1:05pm
Quoting Saidar
Interesting system, if I may how many people are actually making a constant profit using this system?
I was one who was here briefly and I did study Clay's original thread and manual as well as the revised information.

I had success of about a 10% account increase in two weeks with very few signals in August. That was my problem with the system AT that TIME. I was getting very few signals during the US session. But hey... we were in summer months...

I believe the system/methods are sound. Studying them myself and knowing that they are derived somewhat from how Endroute and EOHater trade, I believe this system makes money.

Though I have moved on, I will always credit the CHOROS thread for truly awakening me to how confluence on different time frames makes for excellent trade entries.

You have a good system and a VERY supportive thread with members taking many of the same trades. If you trade this system with discipline, I cannot see how you wouldn't be profitable.
  • #2,276
  • Edited 11:04pm Oct 22, 2010 6:40pm | Edited 11:04pm
Quoting birdland
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.
Lol..now that earlier post makes sense to me..I was struggling to work out why you said 'buy' when they were short trades and created a few inventive reasons why. And nothing as simple as what you said. It's the trade close, not the entry...D'oh!

Cool thx
  • #2,277
  • Oct 24, 2010 8:58am Oct 24, 2010 8:58am
i have downloaded the strategy tester script and put it in an MT4, but i have a problem finding a source that is online in the weekends.
although i have tested it in weekdays and it works fine it doesnt work in the weekends so even though the server it connects to is up it doesnt get any data back.

so my question is, has anyone tried this and working in a weekend? and with what broker.
cheers
  • #2,278
  • Oct 24, 2010 12:33pm Oct 24, 2010 12:33pm
Quoting birdland
let me know if you found a way to make a robot or EA out of it, because then i will think about to move to another methodology.
i am serious, if you or somebody else can programm it i really in doubt about the edge of the system.

Isnt that a bit harsh birdland? Anything systemtic thing can be programmed. Its only complexity of program that can be an issue.Of course the human touch cant be replicated- and a robot will never be able to replace your screen time.
Making money is easy- Just dont take losing trades
  • #2,279
  • Oct 24, 2010 12:39pm Oct 24, 2010 12:39pm
Quoting Saidar
Interesting system, if I may how many people are actually making a constant profit using this system?

Saidar, that's what i liked about this system initially. If you read dance manual its very motivating and keeps you away from exactly this kind of negativity. Negative attitude can blow account really fast. trust me i have done that.

Of course i am not making tons of money yet with the system. but my trading has imroved a lot after finding this thread. Am certainly not picking tops to go long. And yes kostas and birdland has been long enough here to assure you that its not cheat and run thing. Best part is willing to spend time and effort to teach newcomers. What else you can ask for.

Lets master dance together.If you have some doubt start some screen time testing it and keeping a record weather you would have made or lost money had you followed this system for say last one month. If you share you results it will be great help to us all.
Making money is easy- Just dont take losing trades
  • #2,280
  • Oct 24, 2010 1:06pm Oct 24, 2010 1:06pm
Quoting Survivor
Isnt that a bit harsh birdland? Anything systemtic thing can be programmed. Its only complexity of program that can be an issue.Of course the human touch cant be replicated- and a robot will never be able to replace your screen time.
yes, maybe it was my first reaction.
i am skeptical about robots, BUT always open if saidar finds something to help the manuall process of trading!
trading is like dancing, don't think and just listen to the music!
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