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CHOROS System

  • #2,901
  • Nov 25, 2010 3:30am Nov 25, 2010 3:30am
Quoting arha
Thanks Kostas, I will definitely be careful but it gives me more things to practice with in the demo.



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.
Whats worse is price doesnt touch 10 EMA during the trade but later touches. Then you look at a chart like a fool!!
Yes i do use 5 minutes and i am also ready to take some extra risk and jump in when i find price anywhere near 10 EMA even when not touching.

But why do we need to do all this? In my opinion good dance trades come often and give sufficient pips to survive even if sometimes waiting is frustrating.. During teh EU fall Gu gave some solid entries to me.
Making money is easy- Just dont take losing trades
  • #2,902
  • Nov 25, 2010 3:40am Nov 25, 2010 3:40am
Quoting arha
Thanks Kostas, I will definitely be careful but it gives me more things to practice with in the demo.



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.
I do use the M5. Actually, if you see the market moving you get the easiest trades. First touch at M15 10, then first bounce at 35/50, then maybe second 35/50 bounce if M5 looks good, and that's it (keep your eyes to confluences with Daily pivots and RNs). Keep doing this for a while before you move to more advanced techniques. Actually, by just doing this, you will become profitable.
  • #2,903
  • Nov 25, 2010 3:44am Nov 25, 2010 3:44am
Some people have asked me on PM for this. So, here is the version I am using now.
Attached File(s)
File Type: mq4 luktom visual order editor.mq4   14 KB | 615 downloads
  • #2,904
  • Nov 25, 2010 3:44am Nov 25, 2010 3:44am
Happy Thanksgiving, US banks closed today.
'To get something you never had, you have to do something you never did.'
  • #2,905
  • Nov 25, 2010 3:45am Nov 25, 2010 3:45am
Quoting Survivor
But why do we need to do all this? In my opinion good dance trades come often and give sufficient pips to survive even if sometimes waiting is frustrating..
Good advice. But if we don't jump in as fast and as often as possible we might miss out on all the pips!!!

Every single by-the-book trade I've done this week has been profitable. You'd think that would teach me to stick to the rules..... but I'm working on it.
  • #2,906
  • Nov 25, 2010 3:58am Nov 25, 2010 3:58am
out at +10 done for the day.
was stopped out on BE on 2nd half of 1st trade.
But i saw that price again tested the same combo

m15 35sma and H1 10 EMA.
so went long at 5772, out at 5782 for +10
not exactly by the rules cos i'm playing ping pong between the
m15 35 and 50 MAs and H1 35 SMA.

done for the day and waiting for Cable to break that H1 35 SMA
or bounce down but looks like Up like more likely now

EDIT: Ops. Should have seen that H4 10 EMA touch.
Huge move down luckily already out of that trade phew.
Attached Image
  • #2,907
  • Nov 25, 2010 4:00am Nov 25, 2010 4:00am
Quoting crazzzzzy
Happy Thanksgiving, US banks closed today.
Banks Holiday but we still can drain the banks
Happy Thanksgiving to all!
  • #2,908
  • Nov 25, 2010 4:04am Nov 25, 2010 4:04am
Quoting kostas1
Some people have asked me on PM for this. So, here is the version I am using now.
great, thanks a lot m80
  • #2,909
  • Edited 4:57am Nov 25, 2010 4:24am | Edited 4:57am
+22 on EU, and done for the day.

A few good solid bars down, then a one bar retrace and touch of the 10 MA. Well it didn't quite touch it so I went to the 5 minute chart to get a good entry.

The system works yet again.
Attached Image (click to enlarge)
Click to Enlarge Name: trade.png Size: 21 KB
  • #2,910
  • Edited 7:52am Nov 25, 2010 6:02am | Edited 7:52am
Quoting kostas1
Some people have asked me on PM for this. So, here is the version I am using now.
Quoting asos101
great, thanks a lot m80
Hi,

may i know how does this thing work??
is it for the simulator or an indicator or something??
thx a lot in advance

ps: GU just touched the 10EMA, didn't it?? hope some of you all cot it
  • #2,911
  • Nov 25, 2010 6:59am Nov 25, 2010 6:59am
Pretty frustrating times frnds. Anyone expecting some sharp move now even with NY closed?

Makes me wonder how to trade these stupid flatline areas. Gotta close trading and test out some of my ideas. Any suggestions will be welcome.
Making money is easy- Just dont take losing trades
  • #2,912
  • Nov 25, 2010 7:09am Nov 25, 2010 7:09am
+7p at the touch of the 50 ma and 62 ma 15M and 10 ma 1H. I got out because price hesitated at the touch of the 10 ma 15M.

should have stayed in more. I have to be more confident.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 31 KB
  • #2,913
  • Nov 25, 2010 7:30am Nov 25, 2010 7:30am
Quoting Survivor
Pretty frustrating times frnds. Anyone expecting some sharp move now even with NY closed?

Makes me wonder how to trade these stupid flatline areas. Gotta close trading and test out some of my ideas. Any suggestions will be welcome.
This is the time for the range trading which is mentioned in the manual. There is also a constrainment on the eu 1h 35.

http://i53.tinypic.com/2wbs1vr.png
  • #2,914
  • Nov 26, 2010 1:28am Nov 26, 2010 1:28am
EU 15M Constrainment,
Again..easy to spot but difficult to find entry...chart as below..
i have no idea when/where to enter..OR totally no entry here..
sometimes i feel frustrated since i knew "big move" is going to happen but i stay in the sidelines because couldn't find any valid entry...

perhaps experience trader here willing to share their view about this
Attached Image
  • #2,915
  • Nov 26, 2010 1:37am Nov 26, 2010 1:37am
Quoting Fxprince12
EU 15M Constrainment,
Again..easy to spot but difficult to find entry...chart as below..
i have no idea when/where to enter..OR totally no entry here..
sometimes i feel frustrated since i knew "big move" is going to happen but i stay in the sidelines because couldn't find any valid entry...

perhaps experience trader here willing to share their view about this
Well, I am not doing a lot of constrainments but in my opinion after you decide it's constrainment and the MA starts to point up or down then get in exactly on the MA. Alternatively, wait for a rejection bar and get in after it closes (this should be done early otherwise you may loose the move). First way is better since it allows for a small SL and if you are stopped out you can try again.
  • #2,916
  • Nov 26, 2010 1:39am Nov 26, 2010 1:39am
Quoting Fxprince12
EU 15M Constrainment,
Again..easy to spot but difficult to find entry...chart as below..
i have no idea when/where to enter..OR totally no entry here..
sometimes i feel frustrated since i knew "big move" is going to happen but i stay in the sidelines because couldn't find any valid entry...

perhaps experience trader here willing to share their view about this
Hey Fx prince In my opnion it was a valid entry. I avoid such trades only when 35/50 are flat and wide. this this case 35/50 converging and bending down. Even 10 EMA was bending down. So it was a valid entry

But i really dont understand why you coudnt enter if you spotted the constrainment. Here is how i would have traded it. After you spot it, sell AT the 10EMA - because thats constraing MA and we dont see many wicks above it, so unlikely to get a better price to sell.

SL: once you have entered,check last wick high through 10EMA. Keep your Sl slightly above that high. In this particular case i see that EVAN 35/50 is very close above 10 EMA. Now since you know even if price breaks 10EMA its likely to find resistance at 35/50. So even sa safer SL would have been above 35SMA. I can see that even with that safe an Sl you would have hardly needed 15 pip Sl.

But also note that if price CLOSED above 10 EMA the setup would have become invalid. So even though your sl might not have been hit, look to close the trade at minimum loss if that happenes. You will rarely lose more that 4-5 pips with such good setups. So what keeps you from taking it? Fear? read the manual again then

EDIT: you could have taken that trade anytime during the fall.and still above described method would have worked. But as price goes far from 35/50 trade becomes weaker and weaker

EDIT: am sorry that i cant posts charts to explain things. That will be true for all future posts.
However if you still have difficulty understanding what i mean, let me know and i will show thing in chart over weekend for you.
Making money is easy- Just dont take losing trades
  • #2,917
  • Nov 26, 2010 2:19am Nov 26, 2010 2:19am
Quoting ianboy1988
Hi,

may i know how does this thing work??
is it for the simulator or an indicator or something??
thx a lot in advance

ps: GU just touched the 10EMA, didn't it?? hope some of you all cot it
http://www.forexfactory.com/showthread.php?t=245521

its a script that does allow visual editing of orders and also closes partial lots. seen it used from Kostas and i'm testing it now.
  • #2,918
  • Nov 26, 2010 3:08am Nov 26, 2010 3:08am
kostas1, you probably got your +30 pips already.
  • #2,919
  • Nov 26, 2010 3:09am Nov 26, 2010 3:09am
M15 Bounce off 35/50

First 80% closed at the EMA10 (for a potential move up again) at + 17

Trailing the 20% SL as per rules (+31 in this moment)
(anyway already BE + a coffee)
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 112 KB
  • #2,920
  • Nov 26, 2010 3:22am Nov 26, 2010 3:22am
Quoting Whenever
M15 Bounce off 35/50

First 80% closed at the EMA10 (for a potential move up again) at + 17

Trailing the 20% SL as per rules (+31 in this moment)
(anyway already BE + a coffee)
Wonderful trade. As good as they come. I milked it for 30 good pips. Guess nobody here could have missed that.
Making money is easy- Just dont take losing trades
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