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CHOROS System

  • #2,301
  • Edited 9:17am Oct 25, 2010 6:41am | Edited 9:17am
Quoting Survivor
Anyone having sucess with ping pong today?
Yes, I did: 3 trades on GBPUSD:
1) short counter trend 1.5764; closed it way too early (+8 pips), but had no time to trail it - otherwise, it could earn +30 easily;
2) buy at 1.5735 on touch of 35 SMA; narrowly missed the stoploss, but +6 pips;
3) short again at 1.5733, +5 pips.
Now waiting for US news, if they are positive for the dollar, will be looking to sell GU on retouch of 10EMA from below around 1.5730.

PS: Another quick +8 pips on touch of 10EMA from below; can not trail it because have to leave, so closed in a minute...
PPS: During absence, missed an excellent sell on 35SMA touch from below at 15:15 Paris time was good +30 pips, but I only managed +8. Anyway, +30 daily is done in 5 trades, all winners!
  • #2,302
  • Oct 25, 2010 9:55am Oct 25, 2010 9:55am
I took trades in the same ping-pong area, all gainers. Ended up +52 pips after four trades.

Quoting Norg
Yes, I did: 3 trades on GBPUSD:
1) short counter trend 1.5764; closed it way too early (+8 pips), but had no time to trail it - otherwise, it could earn +30 easily;
2) buy at 1.5735 on touch of 35 SMA; narrowly missed the stoploss, but +6 pips;
3) short again at 1.5733, +5 pips.
Now waiting for US news, if they are positive for the dollar, will be looking to sell GU on retouch of 10EMA from below around 1.5730.

PS: Another quick +8 pips on touch of 10EMA from below; can not trail it because have to leave, so closed in a minute...
PPS: During absence,...
  • #2,303
  • Oct 25, 2010 11:17pm Oct 25, 2010 11:17pm
Quoting Survivor
Here is an observation that i have made. This is NOT dance and i havent even backtested it. It is an observation- maybe i am "seeing" (or dreaming) too much. But have any of you observed this too?

I find that...
Notice how such a bar started a big fall in EU. Of course the conditions for counter trend entries were there as per manual. .I am not recommending it yet because it maybe one off situation. But i personally traded it for small profit. If they occur quite frequently then maybe we can investigate them further.

Note: this is not to confuse anyone. Its just an observation that i have made. If someone finds it diverting from the system i would be happily stop posting such things here.
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Making money is easy- Just dont take losing trades
  • #2,304
  • Oct 26, 2010 2:04am Oct 26, 2010 2:04am
Went long on bounce from 10EMA in 15M. Was good for 10 pips then started retracing. thanks to Kostas teaching was quick to cover at +3 pips instead of letting it run to loss.

BTW reason it fell was in 4H.

Oddly one of the biggest benefit of dance has been i have stopped believing any move is "Random" as some skeptics claim
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Making money is easy- Just dont take losing trades
  • #2,305
  • Oct 26, 2010 3:44am Oct 26, 2010 3:44am
Quoting Survivor
Went long on bounce from 10EMA in 15M. Was good for 10 pips then started retracing. thanks to Kostas teaching was quick to cover at +3 pips instead of letting it run to loss.
BTW reason it fell was in 4H.
I also was inclined to take this one, but the reason I didn't was that on M15 the price got to 10EMA in MORE THAN 2 BARS.
PS: Oops, sorry: I was talking about GBPUSD, and I didn't notice you were trading EURUSD...
  • #2,306
  • Oct 26, 2010 3:58am Oct 26, 2010 3:58am
Quoting Norg
I also was inclined to take this one, but the reason I didn't was that on M15 the price got to 10EMA in MORE THAN 2 BARS.
PS: Oops, sorry: I was talking about GBPUSD, and I didn't notice you were trading EURUSD...
i took it with -11pips, because (as also kostas observed) the trend before was very strong, so chances where there to get a good GU M15 ema10 touch.
trading is like dancing, don't think and just listen to the music!
  • #2,307
  • Oct 26, 2010 4:43am Oct 26, 2010 4:43am
Quoting birdland
i took it with -11pips, because (as also kostas observed) the trend before was very strong, so chances where there to get a good GU M15 ema10 touch.
I also took it but waited to touch M5 50 for a profit of +14p. So I didn't trade it as an M15 10 touch because it took too many bars for the retrace. Also this was dangerous because the trade was against the Weekly pivot and Daily R1. Of course, if I had waited for the news I would be rich.....

Anyway, I am too busy these days so I will not have much time to spend on the thread. It seems you guys are doing great even without me. Talk to you more next week.
  • #2,308
  • Oct 26, 2010 4:49am Oct 26, 2010 4:49am
If somebody thinks about trading the coming M15 10 touch be careful since there is a big gap at the price created by the news (look around 1.5780), even if it obeys the 2bar rule.
These gaps tend to be filled, so before that is filled use extra care for longs. If I find time to stick around my computer I may consider the M15 35/50 instead.
  • #2,309
  • Oct 26, 2010 5:16am Oct 26, 2010 5:16am
took the M15 5ema touch with a nice doji for +43pips
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trading is like dancing, don't think and just listen to the music!
  • #2,310
  • Oct 26, 2010 5:36am Oct 26, 2010 5:36am
Quoting birdland
took the M15 5ema touch with a nice doji for +43pips
Good catch. There was PPA line and Daily R2 line too.I missed it. Was watching EU. And manged to lose some pips there
Making money is easy- Just dont take losing trades
  • #2,311
  • Oct 26, 2010 5:41am Oct 26, 2010 5:41am
Hi All, just wanted to say that I really like this system.

Great job and keep trading.
  • #2,312
  • Oct 26, 2010 5:48am Oct 26, 2010 5:48am
Quoting Survivor
Good catch. There was PPA line and Daily R2 line too.I missed it. Was watching EU. And manged to lose some pips there
well, i stay with my friend GU till he is dying
trading is like dancing, don't think and just listen to the music!
  • #2,313
  • Oct 26, 2010 6:25am Oct 26, 2010 6:25am
Quoting birdland
well, i stay with my friend GU till he is dying
Just found this constrainment and recovered all the lkosses. Thats one of the things i love about dance- If you mess you your day you can always wait for constrainments to bail you out. Will rest for the day now i think
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Making money is easy- Just dont take losing trades
  • #2,314
  • Oct 26, 2010 7:39am Oct 26, 2010 7:39am
Survivor,

I took that trade as well and collected 22 pips. If I had been a little more patient with it, I could have grabbed triple the amount of pips. Oh well, positive pips is positive pips, but I still have much to learn about letting profits run.

I'm watching GU now, waiting for the M15 35/50 touch.

Quoting Survivor
Just found this constrainment and recovered all the lkosses. Thats one of the things i love about dance- If you mess you your day you can always wait for constrainments to bail you out. Will rest for the day now i think
  • #2,315
  • Oct 26, 2010 8:13am Oct 26, 2010 8:13am
Quoting Wamo
Survivor,

I took that trade as well and collected 22 pips. If I had been a little more patient with it, I could have grabbed triple the amount of pips. Oh well, positive pips is positive pips, but I still have much to learn about letting profits run.

I'm watching GU now, waiting for the M15 35/50 touch.
We could have hit jackpot on this one. But then nobody gets poorer by taking profit.

Anyway i got too tempeted short on break below and retest of multiple resistance confluence ( 1.3900 RN, PPA, weekly pivot, daily S1). Got another 20 pips from 1.39 to 1.3880.

Edit : 10 EMA on 15 minutes is touching now.
Making money is easy- Just dont take losing trades
  • #2,316
  • Oct 26, 2010 8:54am Oct 26, 2010 8:54am
http://i53.tinypic.com/noan10.jpg



http://i54.tinypic.com/2aj2uts.png
  • #2,317
  • Oct 26, 2010 12:35pm Oct 26, 2010 12:35pm
Just closed out my USDCAD long for just over 16 pips. I went long off the confluence of the M15 35/50 MAs and H1 10ema. I closed the position as the pair approached and stumbled at the D1 35sma. The "equivalent" MAs for the higher timeframes really help pinpoint S/R from those levels.

I collected a total of +41 pips for the day with no losers. If you are reading this, Clay, thanks so very much!
  • #2,318
  • Oct 26, 2010 11:49pm Oct 26, 2010 11:49pm
Quoting endroute
I was reading through the thread and seeing the success people are having with this method, but also see that a lot of people have a hard time with the touch trades and issues with confidence as you move up to bigger lots....
Thanks Endroute for sharing this info. I,for one, am still struglling with touch trades. Currently what seems to be working for me is - I dont bother with touch. I simply wait for rejection (Pin bars, even in 5 or 1 minute is good enough indication for me) at any of MAs. Of course waiting for rejection means losing few pips compared to touch trades. But i find them safer. Will try your system and see how it goes. Looks promising. Thanks for sharing.

Also like your recent comment here after long time- "Posts like this are why so many people outright fail at trading". Maybe that explains why you have been so sucessful consistently. keep up the good work.
Making money is easy- Just dont take losing trades
  • #2,319
  • Oct 27, 2010 2:32am Oct 27, 2010 2:32am
Jackpot hit!
Sell GBPUSD off 35SMA constraintment at 8.15 Paris time at 1.5836.
+70 pips so far and still trailing
  • #2,320
  • Oct 27, 2010 2:36am Oct 27, 2010 2:36am
Quoting Norg
Jackpot hit!
Sell GBPUSD off 35SMA constraintment at 8.15 Paris time at 1.5836.
+70 pips so far and still trailing
Even i took that one but trailed too agressively and got measely 6 pips Need to do some hard thinking about trailing Sl. Initially i teghten it to BE +5/6 pips pretty fast.Often chokes out many good trades.

But some good dance trades today. Nice to see you all getting fast pips
Making money is easy- Just dont take losing trades
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