CHOROS System | Page 125 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

CHOROS Interactive 2,625 replies

Money management for CHOROS and other strategies 2 replies

I want to pay off my mortgage asap with Choros 181 replies

3-9% a day with CHOROS? 63 replies

Would you trade this system? New system #2. 10 replies

Attachments: CHOROS System
Exit Attachments

CHOROS System

  • #2,481
  • Nov 5, 2010 6:35am Nov 5, 2010 6:35am
How to understand this long candle ?
  • #2,482
  • Nov 5, 2010 7:03am Nov 5, 2010 7:03am
Wow, what a rocket up !

I guess the news at 12:00 GMT but they were on CAD...I also don't know well how they influence GU...

I settled a trade at Touch of EMA62 on H1 and a TP at +20 but when I re-opened I was shocked

What then will be the afternoon with the NFP ?
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 87 KB
  • #2,483
  • Nov 5, 2010 7:28am Nov 5, 2010 7:28am
Constrainment on eu 15m 10, 5m 20 and 1m 35. A bit too close to NFP for comfort, but still good for 10 pips.


http://i51.tinypic.com/etcvmu.png
  • #2,484
  • Nov 5, 2010 7:44am Nov 5, 2010 7:44am
i could not resist myself, after i saw this wonderful M15 pin with RN and on M5 two perfect pins. so i shortet right before the news for +22pips.
the second half i sold for +45pips at RN.

have a nice weekend and patience!
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2010-11-05 um 13.41.45.png Size: 58 KB
trading is like dancing, don't think and just listen to the music!
  • #2,485
  • Nov 5, 2010 7:47am Nov 5, 2010 7:47am
Touch (or close to it) of 4h 35/50 with 5m pinbar. SL now at BE.

http://i56.tinypic.com/2vjvpls.png
  • #2,486
  • Nov 5, 2010 9:52am Nov 5, 2010 9:52am
another +33 piper for today on M15 10/35/50 confluence.

i only show my best trades, because you can learn from them.
the two small losses and the small profit i wont show (they are +/- 0 added)
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2010-11-05 um 15.50.36.png Size: 70 KB
trading is like dancing, don't think and just listen to the music!
  • #2,487
  • Nov 5, 2010 10:09am Nov 5, 2010 10:09am
Quoting birdland
another +33 piper for today on M15 10/35/50 confluence.

i only show my best trades, because you can learn from them.
the two small losses and the small profit i wont show (they are +/- 0 added)
Can you tell us, birdland, where you entered in the last trade? because I saw this trade too, but it was too late when I was confident that the price would go long.

Thanks
  • #2,488
  • Nov 5, 2010 10:55am Nov 5, 2010 10:55am
Quoting Leone
Can you tell us, birdland, where you entered in the last trade? because I saw this trade too, but it was too late when I was confident that the price would go long.

Thanks
exactly at the touch at 6217
most of my trades (90%) are touch trades
trading is like dancing, don't think and just listen to the music!
  • #2,489
  • Nov 5, 2010 10:56am Nov 5, 2010 10:56am
I've spent the last week or so reading Clay's manuals, the original dance thread, and I'm through the first 100 or so pages of this thread. I'm very encouraged by it. Thanks to Kostas for keeping it going, and of course to Clay, who has now taken on the status of a martyred saint.

I've got a question about pairs to trade in various times. During London session, Kostas trades GU and some others look at EU. I've been looking at this as well, and I'm trying to figure out how I can manage that. London opens at 2am here.

What about other times? From London close to Asian open? Then first half of Asian session? (From what I've seen, second half of Asian session tends to be dead, which figures, since it would be the absolute best time to fit in with my schedule).

Second question is about spreads. Do you set a max spread as a limit? I will probably be starting this using an ECN, so the spreads will tend to be low, but I'm still curious about this.

I plan on staring at the simulator for the next week to two weeks, phasing in some demo trading along the way. Live with this system in maybe a month, depending on how it goes.
  • #2,490
  • Nov 5, 2010 11:00am Nov 5, 2010 11:00am
Quoting birdland
another +33 piper for today on M15 10/35/50 confluence.

i only show my best trades, because you can learn from them.
the two small losses and the small profit i wont show (they are +/- 0 added)
I would encourage you, if you have the time, to post the other dance trades as well. It's worth learning that good traders can follow the rules and still take a loss or break even. (From a psychology perspective, that's one of the most important lessons.) There can also be an art to getting out of a trade that's not going well. One of my biggest faults is holding on too long when something is going the wrong way.

And who knows, its possible that someone might notice something about the non-winners that could help people in the future.
  • #2,491
  • Nov 5, 2010 11:07am Nov 5, 2010 11:07am
Quoting duffypratt
I would encourage you, if you have the time, to post the other dance trades as well. It's worth learning that good traders can follow the rules and still take a loss or break even. (From a psychology perspective, that's one of the most important lessons.) There can also be an art to getting out of a trade that's not going well. One of my biggest faults is holding on too long when something is going the wrong way.

And who knows, its possible that someone might notice something about the non-winners that could help people in the future.
well, i think its better to concentrate on the good trades and not on the bad ones.

the bad ones are sold with a loss immediatelly, if the touch doesnt work out (8-10pips) OR BE because i am already 8-12 points in profit and the market takes me out. that it, nothing special.
in about 30% (or maybe 35%) the result of a trade is a loss.
in about 20%-30% its a BE trade.
and about40%-50% are winners. some are huge (over 40pips)

its all about training, training and again training.

happy training!
trading is like dancing, don't think and just listen to the music!
  • #2,492
  • Nov 5, 2010 11:14am Nov 5, 2010 11:14am
Quoting birdland
exactly at the touch at 6217
most of my trades (90%) are touch trades
Thanks birdland!
  • #2,493
  • Nov 5, 2010 1:53pm Nov 5, 2010 1:53pm
Quoting birdland

in about 30% (or maybe 35%) the result of a trade is a loss.
in about 20%-30% its a BE trade.
and about40%-50% are winners. some are huge (over 40pips)

its all about training, training and again training.

happy training!
Your interesting post has brought me to an own consideration:

I must admit to have been nicely training the entries and the exits,
and even the BEs of this great Strategy ( not a System, Clay, not a System ) for a while now,
but I have not been good enough to report one by one my trades in a kind of Trading Book.

I think it could be not only interesting, but even very positive for my trading, to keep a track of points like :

*what kind of entry Signal (Touch, Bounce or Constrainment and if in Confluence on more than one TF)

* what MA

* what TF

* the result in term of pips (positive or negative, of course)

So I made an easy excel to keep and update at the end of the day from now on.

I can't believe to have seen today a total result of 82,2 pips !!!
I don't even know well how I did it...but I saw mostly Touch EMA10 today.
( that's even seriously too much, I must learn to stop by 30 or so and keep greedy veeeery far away from me )

But the point is: I would like to may filter in future, after many trades, what are my "favourites" or where I should better and harder work out, to "balance" my knowledge of the Dance.

What kind of entries gave me the most pips or lost.

And most important for me: the edge.
Better said: what % of winner and what of losers.

I just wonder if some you is keeping such reports of your trades with the Dance ?

I would be interested in your edge until now, in term of % of winners and losers based on real datas....
It is not important how many pips (if you like to mention it even better, but that is not the main point for me).

I just wonder on a total nr of trades how many were winner and how many losers.

I imagine that it is surely impressive to find it out, but I would like to see them based on real (or demo of course) trades numbers.

I'll report it in a while, as soon as I have something (100 trades ?) to may measure....
  • #2,494
  • Nov 5, 2010 2:10pm Nov 5, 2010 2:10pm
Quoting Whenever
Your interesting post has brought me to an own consideration:

I must admit to have been nicely training the entries and the exits,
and even the BEs of this great Strategy ( not a System, Clay, not a System ) for a while now,
but I have not been good enough to report one by one my trades in a kind of Trading Book.

I think it could be not only interesting, but even very positive for my trading, to keep a track of points like :

*what kind of entry Signal (Touch, Bounce or Constrainment and if in Confluence on more than one TF)

* what MA...

Hi, Whenever,

I just started trading more consistently and I thought about keeping this kind of evidence. It's a very useful analisys I think. In this way I decided this summer to trade only GU after 3 weeks of trading GU, EU and EJ.
  • #2,495
  • Nov 5, 2010 2:45pm Nov 5, 2010 2:45pm
A while back someone raised a question about the false "touches" on the 10EMA. I mean the frequent situations where there is no touch in real time, but by the close of the bar it looks like a perfect touch, because the price has dragged the MA along with it. The answer, at that time, was that the dance waits for a true 10EMA touch. And the responder suggested that the false touches that didn't work out were bad enough to make this a good rule. I've been thinking about this and I don't think it's necessarily correct.

Just imagine the following situation. Price is falling and the 10 EMA is really steep. Lets also say that the MAs are nicely arranged with 50 on top, 35 just below, then 10 EMA, then price. Price comes up for one bar, and now on the second bar it is approaching the 10 EMA. Then price starts to stall out, say 3-4 pips below the 10EMA. Dance rules say no trade, and wait for the touch. But what if you took the trade?

1) Price starts to drop, and the trade is a winner. Here you get a winning trade where the dance gives you no trade at all.

2) Price comes out of its stall and goes up to touch the 10 EMA. Here, you get a worse entrance on your 10 EMA trade. This might end up costing you some pips, depending on how you exit.

3) Price stays in a stall and the bar ends. Now you would be on the third bar and violating the 2 bar rule. In this event, you might either move the stop up very tightly, or just exit the trade with either a very small loss or gain.

The risk of entering in this situation seems very well defined. You are basically putting an extra 3-4 pips at risk on a 10EMA trade, and in exchange you are hoping to get more trades in your favor. Is it worth the risk? I don't have a clear answer to that. From looking at the charts, it seems like these near misses happen all the time, and thus it also seems like people are passing up on many decent opportunities.

Kostas might have something to say about how to judge when price has stalled between the 5 and 10 EMAs and is moving in the other direction. I've seen that he has taken these sorts of trades from time to time.

Sorry for the length (and possible presumptuousness) of this post.
  • #2,496
  • Nov 5, 2010 6:51pm Nov 5, 2010 6:51pm
Quoting Whenever
Your interesting post has brought me to an own consideration:

I must admit to have been nicely training the entries and the exits,
and even the BEs of this great Strategy ( not a System, Clay, not a System ) for a while now,
but I have not been good enough to report one by one my trades in a kind of Trading Book.

I think it could be not only interesting, but even very positive for my trading, to keep a track of points like :

*what kind of entry Signal (Touch, Bounce or Constrainment and if in Confluence on more than one TF)...
I couldn't agree more. Knowing what you did in all trade history will help you fine tune your Business!

The pic below shows a database I built for a specific strategy I've developed. I was able to backtest it (manually, at least 200 hours to complete) for one full year. At this point the strategy is working up to expectations, however that's not what this is about.

I will begin work on developing a database we all can use to track our individual progress. Now the beauty of a database over spreadsheets are the infinite ways of mixing and matching results. For instance, Let's say you want to find out how many winning trades you have had on Mondays, during summer months, using 10 ema touch, on 1m & 1H TF, on confluence only trades, that netted +25 pips, etc. What ever parameters you choose can easily be filtered to your own specs.

I will be posting a database by the end of next week. Of course it will be a work in progress so I will be happy to consider all recommendations. Please let me get any input throughout this week, to help me consider what's needed and what's not needed. The database will have the ability to house screenshots to further enhance your "Total Recall" abilities. (∞} hehehe.

As always considerable kudos to all contributors and of course to the moderators, a big WET WILLY!
Attached Image (click to enlarge)
Click to Enlarge Name: E_G Reversal.png Size: 35 KB
  • #2,497
  • Nov 5, 2010 7:07pm Nov 5, 2010 7:07pm
After studying this strategy for 10 days or so, I'm starting to get more of a feel, and it feels good.

The last 2 days I'm minus 1/2% on Thursday & Plus 1 &1/2% on Friday. On day 2, Friday (plus 1 &1/2%) I would have been plus 3 &1/2% except for pulling the trigger on the G/Y instead of the G/U, and believing I could nurse it to a good area to get out. Apparently I was exercising my "Inalienable Right to Remain Stupid!"

I will also post charts, as per requested, for my future trades.

"We must have perseverance and above all CONFIDENCE in ourselves. We must believe that we are gifted for something and that this thing must be attained." ~ Marie Curie 1867-1934, Physicist
  • #2,498
  • Nov 5, 2010 7:17pm Nov 5, 2010 7:17pm
[quote=Greenhill;4150288]Touch (or close to it) of 4h 35/50 with 5m pinbar. SL now at BE.

Regarding using the 4H charts: Depending on your brokers clock, there could be big differences. The daily could also show slightly different view also, due to broker. Pivots need to be dialed in to the correct time as well. I thought it worth mentioning, due to the fact that much of what we, as traders, count on for guidance (while Dancing.. ).

"Treat your friends as you do your pictures, and place them in their best Light." ~ Jennie Jerome Churchill 1854-1921, - Writer and Mother of Sir Winston Churchill
  • #2,499
  • Edited 12:10pm Nov 6, 2010 8:15am | Edited 12:10pm
Quoting Whenever
I just wonder if some you is keeping such reports of your trades with the Dance ?
great pip-day, congrat!

yes, i am keeping reports of EVERY trade by sorted by time, tradesignal, chart, profit after commission and slippage, comments of what to do better, mistakes and comments, pips for a day, pips for a week, pips for a month, profit/loss percentage, aso...

without this i would be like a blind man driving a car:nerd:
trading is like dancing, don't think and just listen to the music!
  • #2,500
  • Nov 7, 2010 3:23pm Nov 7, 2010 3:23pm
It seems you guys are doing great or are already in a good path to success.
You have probably noticed that my posts are getting more rare lately. The reason is that trying to combine work and trading is a challenge already. Also my PM is getting hammered by emails and I can't answer all of them. In addition, with my lot size increasing fast, the amount of money starts to get serious enough that requires even more attention (and stress) from me. So, my posts will not be as many, but I will post if I feel that there is something worth mentioning. During the weekend I have more time to catchup with the thread's progress. It seems that everything about the method has been discussed in our thread already many times and some of you already have a good foundation to help the newbies with the method. So keep up the good work, be disciplined & patient and you will get there.

Kostas
P.S. Oh, I forgot to mention that I have changed my daily target or loss to 2.5% from 3%. I got to a point where I had to increase lot size every few days even with regular withdrawals, so I reduced the daily risk by 0.5% to help me feel comfortable with the bigger lots. Target of 33K should be achievable within January since I will stop trading from Dec 15th to January 5th.
6 traders viewing now