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CHOROS System

  • #2,881
  • Nov 24, 2010 6:08am Nov 24, 2010 6:08am
took first and second touch of 35/50 MAs on M15,
Confluence with RN and H1 10EMA.

Exited at 1.5782 average 20+

Done for the day. see you guys tmr
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  • #2,882
  • Nov 24, 2010 6:15am Nov 24, 2010 6:15am
Quoting Whenever
I couldn't resist that one.
I am sure some other Dancer took that too.

Half position for me, as the Master teaches, when the daily target has already been achieved..

M15 - 35/50 + RN
H1 - 10

8 pips down just until the M5 EMAs, but worth for a test.

Friendly note for KK007: look at the interesting price action on H1 onto the actual (Yellow) H4 TL ( I also appreciate your posts like Survivor and am already awaiting for your critic ).
nice one man. ur half position is my 2nd trade for me
see you tmr ~~
  • #2,883
  • Nov 24, 2010 7:30am Nov 24, 2010 7:30am
On my chart, there are no TLs with such a gentle slope. I would have marked a horizontal S/R instead. I find this practise makes thing simpler and more powerful.

P.S. Anyway, I think you will earn pips no matter what practise you follow. :>

Quoting Whenever
I couldn't resist that one.
I am sure some other Dancer took that too.

Half position for me, as the Master teaches, when the daily target has already been achieved..

M15 - 35/50 + RN
H1 - 10

8 pips down just until the M5 EMAs, but worth for a test.

Friendly note for KK007: look at the interesting price action on H1 onto the actual (Yellow) H4 TL ( I also appreciate your posts like Survivor and am already awaiting for your critic ).
  • #2,884
  • Nov 24, 2010 8:33am Nov 24, 2010 8:33am
Quoting kk007
On my chart, there are no TLs with such a gentle slope. I would have marked a horizontal S/R instead. I find this practise makes thing simpler and more powerful.

P.S. Anyway, I think you will earn pips no matter what practise you follow. :>
Thank you KK07,

sorry for not being exactly a "Dance" thema, but as I think it could be helpful also for trading the Dance (at least for me ), I would be interested to understand how you consider and mark your TL's.

Just to shortly explain mine:

I find the last swing low (in this case) and connect it to the last lower one (of at least 3 pips lower) just looking to the left until I find it.

I started to trace them this way after reading a book of a trader called Tom Strignano and I must say that being those the "most recent" supply and demand points, they seem to work several times as S/R areas.

I would appreciate your comment and information.
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  • #2,885
  • Nov 24, 2010 8:47am Nov 24, 2010 8:47am
Quoting Fxprince12
Yes, it's easy to spot..but difficult to find an entry for constrainment trade.....

Here's a link to how one trader entered over on Kenneth Lee's thread: http://www.forexfactory.com/showpost...postcount=2986
  • #2,886
  • Nov 24, 2010 8:51am Nov 24, 2010 8:51am
Don't want to hijack this thread with TL discussion, coz it is not the interests of many other here. Let me PM you later.

Quoting Whenever
Thank you KK07,

sorry for not being exactly a "Dance" thema, but as I think it could be helpful also for trading the Dance (at least for me ), I would be interested to understand how you consider and mark your TL's.

Just to shortly explain mine:

I find the last swing low (in this case) and connect it to the last lower one (of at least 3 pips lower) just looking to the left until I find it.

I started to trace them this way after reading a book of a trader called Tom Strignano and I must say that being those the "most recent" supply and...
  • #2,887
  • Nov 24, 2010 9:22am Nov 24, 2010 9:22am
Quoting kk007
Don't want to hijack this thread with TL discussion, coz it is not the interests of many other here. Let me PM you later.
Ok, I agree, thanks.
  • #2,888
  • Nov 24, 2010 9:34am Nov 24, 2010 9:34am
Quoting kostas1
I see. My experience with programming goes back to BASIC with a TI-99/4A computer. So, I couldn't write an EA. I recommend posting a thread at the "Platform Tech" session. I tried to send you a private message but since you are new to the FF, you will be able to receive one after a while.
Thanks in advance Kosta
  • #2,889
  • Nov 24, 2010 10:39am Nov 24, 2010 10:39am
Quoting kk007
Don't want to hijack this thread with TL discussion, coz it is not the interests of many other here. Let me PM you later.
Thanks kk007.
Just a quick note on TLs. I have used major TLs (from H1, H4, Daily) and still use them from time to time. I don't use them as signals but I noticed that when there is confluence of Dance elements with TLs then there is very strong reaction there. The problem is that TLs are subjective some times and they can be confusing, so please refrain from discussing them here anymore.
  • #2,890
  • Nov 25, 2010 1:58am Nov 25, 2010 1:58am
Can someone tell me what was wrong with the entry? i Sold and it stopped me out, it went long.
when i entered the ma's on the m15 were all bending downwards..... its later that they became flat

The only thing that i think is wrong is the 50 and 35 mas on H1.. that they are wide apart.. maybe?


And if anyone wants to win a trade.. Just wait for me to take a trade and simply trade in the opposide direction !!! It always has to go against me.
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'To get something you never had, you have to do something you never did.'
  • #2,891
  • Nov 25, 2010 2:20am Nov 25, 2010 2:20am
Quoting crazzzzzy
Can someone tell me what was wrong with the entry? i Sold and it stopped me out, it went long.
when i entered the ma's on the m15 were all bending downwards..... its later that they became flat
The only thing that i think is wrong is the 50 and 35 mas on H1.. that they are wide apart.. maybe?
And if anyone wants to win a trade.. Just wait for me to take a trade and simply trade in the opposide direction !!! It always has to go against me.
Dont get frustrated mate. Losses are part of trading. As for your querry here is what i think.

In 15M chart, its NOT a good constrainment in my view. Three reasons:
1. how you see all MA moving down? at those candles 10EMA was actually pointing up. And thats not after you took the trade. 10 EMA was rising even after close of first candle. watch carefully. In my experiance best constrainment happens when all MAs parrallel and pointing same way. Here 10EMA is actually pushing the prices up.

2. No wicks through constraining MA is a bad omen in my experience. Only when price wicks through constraining MA and fails to break it then i take the constrainment trades.

3. Notice how even 10EMA is also "constraining" the price. Price should be touching only one constraining MA. in this case difficult to say which MA is contraining the price upper or lower one.

NOT a valid constrainment in my opinion. We are just forcing a trade here.

In 1H chart you have already noted yourself that MAs are wide and flattenning. Constrainments are best against rising or falling MAs. Flat MAs are no no for me. There are many other reasons for failure of this trade in HTF. but i wont confuse you with them. Even in 15M there were plenty of warnings.

You always getting it wrong? Do this - WAIT. Wait for 10 EMA to cross 35/50 both and price to move very far from 35/50- at least three bars. Then let price retrace to 10 EMA in two bars. Take the trade at touch of 10 EMA with 10 pip SL . Book your profit fast at 20 pips- and magic- You will have a winning trade. Then repeat it when later when price retraces next time time to touch parallel or on top of each other 35/50. Then you have another winning trade. In short- take only the very best first touches and see magic.

Learn to wait for perfect setup. Most of the time we lose becayuse we try to force a trade where there is none. Looking at chart long and hard to find a trade is bad habbit. Trade only when a trade jumps out at you without effort.

As an aside,to me today not looking good for dance as of now
Making money is easy- Just dont take losing trades
  • #2,892
  • Nov 25, 2010 2:37am Nov 25, 2010 2:37am
Wow, great writeup Survivor, you taught me something new yet again! I have a whole list of your tips now, they're great.

I took the touch of GBPJPY 1hr 50 for +12. Waiting on the euro to retrace, hopefully get a nice 10 MA touch to finish the day.
  • #2,893
  • Nov 25, 2010 2:42am Nov 25, 2010 2:42am
Quoting crazzzzzy
Can someone tell me what was wrong with the entry? i Sold and it stopped me out, it went long.
when i entered the ma's on the m15 were all bending downwards..... its later that they became flat

The only thing that i think is wrong is the 50 and 35 mas on H1.. that they are wide apart.. maybe?


And if anyone wants to win a trade.. Just wait for me to take a trade and simply trade in the opposide direction !!! It always has to go against me.
You got in at the Frankfurt session which can fake you out. This is my trade for EU this morning (+19p, a small part of it still open shooting for H4 10).
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  • #2,894
  • Nov 25, 2010 2:45am Nov 25, 2010 2:45am
Quoting kostas1
You got in at the Frankfurt session which can fake you out. This is my trade for EU this morning (+19p, a small part of it still open shooting for H4 10).
What was your reason for entering Kostas? The 10 crossing the 35 and then the touch of that? I saw the same thing but thought it looked too iffy for me as a newbie. I did take the same trade as crazzzzzy for +5 by keeping my SL very tight.
  • #2,895
  • Nov 25, 2010 2:58am Nov 25, 2010 2:58am
Quoting arha
What was your reason for entering Kostas? The 10 crossing the 35 and then the touch of that? I saw the same thing but thought it looked too iffy for me as a newbie. I did take the same trade as crazzzzzy for +5 by keeping my SL very tight.
Not too typical CHOROS trade but if you just see the M15, you will see two green bars crossing the 10, then the other two had long bottom wicks which short of bounced off the 10/35 and the M5 showed clear bouncing from M5 35/50. These can be good short trades in my experience but don't get confused now. Stick to the rules and when you get more experience you will be able to play the MAs for shorter profits. My target was RN & Daily Pivot (got 90% of my lots closing there) and left 10% to run up to H4 10. This second 10% was stopped out since I had moved my SL to -3p.
  • #2,896
  • Nov 25, 2010 3:03am Nov 25, 2010 3:03am
Quoting kostas1
You got in at the Frankfurt session which can fake you out. This is my trade for EU this morning (+19p, a small part of it still open shooting for H4 10).
I dont yet know how to trade these areas successfully. BTW your frankfurt time comment , i am more and more ignoring that rule and concentrating mostly on MAs. Wide flat 30/50 that is not going anywhere is a sure sign for me to stay away - no matter what time of day it is. steep parrallel 35/50 and i start trading anytime. Maybe few loses will convince me of time rule But as of now watching 35/50 is protecting me.

These flatland areas are frustrating. I can see few candles (that pin bar in your chart is shouting buy) but dont know how to trade them sucessfully. Can you please explain whay and how you took this trade? did you go ahead with safe long signs that are coming in HTF? Also see that your entry was very nice.

EDIT: Just saw your reasoning. Guess entering at 10EMA was good way to trade it. I have made few mistakes by jumping early. Will watch more carefully next time.
Making money is easy- Just dont take losing trades
  • #2,897
  • Nov 25, 2010 3:05am Nov 25, 2010 3:05am
Quoting Survivor
Dont get frustrated mate. Losses are part of trading. As for your querry here is what i think.

In 15M chart, its NOT a good constrainment in my view. Three reasons:
1. how you see all MA moving down? at those candles 10EMA was actually pointing up. And thats not after you took the trade. 10 EMA was rising even after close of first candle. watch carefully. In my experiance best constrainment happens when all MAs parrallel and pointing same way. Here 10EMA is actually pushing the prices up.

2. No wicks through constraining MA is a bad omen in my...

Thanks alot Survivor.. i didnt notice no. 3 (price constraining 10 ema too)

I'll surely keep this in mind now...
and no. 2) i thought a trade with wicks was a weaker trade but u're saying it with expeciance that means the wick through a ma is a stonger trade.

This post has added alot of information to me. Thanks again.
'To get something you never had, you have to do something you never did.'
  • #2,898
  • Nov 25, 2010 3:17am Nov 25, 2010 3:17am
Thanks Kostas, I will definitely be careful but it gives me more things to practice with in the demo.

Quoting Survivor
steep parrallel 35/50 and i start trading anytime.
How do you deal with the situation where the 35/50 are steep and right on top of each other but the price never actually touches the 10 MA? The last euro drop is exactly what I mean. Do you watch the M5 for an entry point? This is the main thing I'm struggling with at the moment. I can enter on a reversal pretty good now, but after the market gets moving I can never see an entry point.
  • #2,899
  • Edited 3:36am Nov 25, 2010 3:19am | Edited 3:36am
First touch of 10 EMA 35 SMA
Confluence of H1 10 EMA.
Long at 1.5769
Out half at 1.5787
Closed half position at +18
Stop to BE for 2nd half of position.

Price trying to break Daily Pivot acting as strong resistance here.. price tried 4 times but didnt break through 5788..
hmmm kinda regret that i didnt exit fully now but stop already to BE the worse that could happen is BE and i have to find another trade to fill my daily quota

EDIT: out at BE for 2nd half of trade..
Reentry at 5772.. aiming for 10 pips now..
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  • #2,900
  • Nov 25, 2010 3:25am Nov 25, 2010 3:25am
Quoting arha
Wow, great writeup Survivor, you taught me something new yet again! I have a whole list of your tips now, they're great.

I took the touch of GBPJPY 1hr 50 for +12. Waiting on the euro to retrace, hopefully get a nice 10 MA touch to finish the day.
I would strongly suggest everyone goes through examples in manual. Note that there are additional 2 pdf of examples if i remeber correctly.Check out the examples in these pdfs carefully so its easy to spot a trade when you see it. None of the examples looks like trade crzzy took. Now, in words its difficult to describe. It is like you know it when you see it.

My intention here is not to add rules to an already excellent system. Simplicity is best in trading. But what i have noted here is just what i have observed in examples given in manual and my precious little experience here. Also note that kostas gave simple one line explanation of trade failure instead of my lengthy chronicle.
Making money is easy- Just dont take losing trades
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