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CHOROS System

  • #2,921
  • Nov 26, 2010 3:27am Nov 26, 2010 3:27am
Quoting kostas1
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.
Hi Kostas1& Survivor,
Thanks..to have experienced & successful trader like you share his opinion is really really helpful..
I understand your explanation above but again due to my limited experience, i still couldn't find where to entry on chart i post earlier...
Perhaps you willing to spend your time to show me where to enter/potential entry for that chart...

Yes, the reason I not enter that trade is because partly Fear..why, because I couldn’t determine the SL (minimum SL)..as I couldn’t afford large SL/drawdown…
My trading style not aggressive..so if couldn’t determine initial SL/TP of that setup..i prefer to skip/wait (which in this constrainment case made me miss the big move)
Attached Image
  • #2,922
  • Nov 26, 2010 3:28am Nov 26, 2010 3:28am
Quoting Survivor
Wonderful trade. As good as they come. I milked it for 30 good pips. Guess nobody here could have missed that.

I did! - just got back from gym to see that nice setup had played out - well done to you guys catching it.
All that matters is winning the week
  • #2,923
  • Nov 26, 2010 3:31am Nov 26, 2010 3:31am
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)
Yes..great trade..but i managed to get only +15 pips..
Well, I'm still build up my confidence in this "1st touch trade"...and this week is the 2nd time spotted this (both end up in ++)

Can i say that above setup is also AAA setup..??
  • #2,924
  • Nov 26, 2010 3:31am Nov 26, 2010 3:31am
Quoting Fxprince12
Hi Kostas1& Survivor,...
Sorry frnd i really cant upload charts. What i meant is whenever you SAW the constrainment. Say you saw it a candle x from left in your chart. INext time (in candle x+1) when price comes to 10EMA sell. Sl keep 10 pips above previous candle high or above 35/50 MA You could have sold it at any of the cadnels after you saw it. x doesnt matter. just make sure not to sell it after it has fallen 50 points already
Making money is easy- Just dont take losing trades
  • #2,925
  • Nov 26, 2010 3:44am Nov 26, 2010 3:44am
just woke up and missed the train ride for GU and EU
oh well waiting for retest and touch of 10ema again ( looks like long wait, or not? )
  • #2,926
  • Nov 26, 2010 4:02am Nov 26, 2010 4:02am
was a touch of 10 ema on M15 EU when i entered the trade.
but MA changed when i took screenshot.
Short at 1.3253

Update:
Out at 1.3238
quick 15 pips
Attached Images
  • #2,927
  • Edited 5:00am Nov 26, 2010 4:25am | Edited 5:00am
Touch trade on Cable ,
touch of 10 EMA.
short at 1.5695

TP at +15 target. Done for the day.
Price went to as high as 1.5705 but didnt threaten Stop level at 1.5714 ( 19 pips default)
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  • #2,928
  • Nov 26, 2010 4:43am Nov 26, 2010 4:43am
Possible constarinment on eu 15m 10. If it's too nerve wracking, then place the trade and go make some tea.

http://i55.tinypic.com/2ewcrxt.png

P.S. I like rosehip or lemon zinger.
  • #2,929
  • Nov 26, 2010 4:55am Nov 26, 2010 4:55am
Quoting Greenhill
Possible constarinment on eu 15m 10. If it's too nerve wracking, then place the trade and go make some tea.

http://i55.tinypic.com/2ewcrxt.png

P.S. I like rosehip or lemon zinger.
Hello Greenhill, did u take that touch of 10ema on EU?
  • #2,930
  • Nov 26, 2010 4:58am Nov 26, 2010 4:58am
Quoting willkohsg
Hello Greenhill, did u take that touch of 10ema on EU?
No, but I do have a trade on the constrainment.

http://i54.tinypic.com/jiianq.png

PS Just closed at +10.
  • #2,931
  • Nov 26, 2010 5:01am Nov 26, 2010 5:01am
Quoting willkohsg
Touch trade on Cable ,
touch of 10 EMA.
short at 1.5695

Hi Willkohsg,

nice one.

Only that there were 3 bars back to the EMA10, so it would not be really by the rules.

I liked more the RN + bounce 35/50 on the M5, but it was the same area, so i could be a kind of confluence, with a bit of fantasy

Is fantasy allowed in trading ???
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  • #2,932
  • Nov 26, 2010 5:03am Nov 26, 2010 5:03am
Quoting Greenhill
No, but I do have a trade on the constrainment.

http://i54.tinypic.com/jiianq.png

PS Just closed at +10.
ok thanks for info
btw i think this constrainment is pretty strong. see that last green candle and the hammer after that.
that hammer should have been a sign for price to go up but 10ema kept prices lower.
was that one of the the signs for your constrainment trade?
  • #2,933
  • Nov 26, 2010 5:09am Nov 26, 2010 5:09am
Quoting willkohsg
ok thanks for info
btw i think this constrainment is pretty strong. see that last green candle and the hammer after that.
that hammer should have been a sign for price to go up but 10ema kept prices lower.
was that one of the the signs for your constrainment trade?
I have found that constrainments are very powerful and generally overrule candlesticks. As soon as the second red candle closed below the 10 I was watching for an entry.
  • #2,934
  • Nov 26, 2010 5:14am Nov 26, 2010 5:14am
Quoting Whenever
Is fantasy allowed in trading ???
sure sure must use imagination when u deal with touch and constrainment.
when touch must imagine markets is showing their hand to you.
telling u- hey go short here, i wana give u money

whenever u're right. i was focusing too much on touch to enter a by the rules strictly trade. I knew there's going to be retest after price touched 35/50 ema and probably it will not break it cos it's so narrow together now and not wide apart. ( added confidence to go short )

entered on steepness of 10ema and also price was near RN 1.5700 and the M5 35/50 probably helped. but i favour higher timeframe ( stronger signal) to help me see confluence but if it works for u i am all for it too, always something to learn.

but just friendly advise becareful when using M5 for confluence cos the signal not as strong compare to if say H1 or H4 confluence to help u with the trade

ok i'm getting naggy here , done for the day guys
gg to wash my mind of trading and do some other stuff
i'll come back tomorrow and read the posts.

Postive thing:
Now i am not afraid of missing monster pip runs cos i know 30 pips a day is enough for me ,AND the key thing is, the 15 pip train comes a few times a day
  • #2,935
  • Nov 26, 2010 9:30am Nov 26, 2010 9:30am
hi kostas. hi all
please could you share the graph results of trading since you begin using the dance,,,,
thanks alot
  • #2,936
  • Edited 12:10pm Nov 26, 2010 11:55am | Edited 12:10pm
Quoting Greenhill
No, but I do have a trade on the constrainment.

http://i54.tinypic.com/jiianq.png

PS Just closed at +10.
Hellw Greenhill
You picked a nice constrament trade ,I took the same trade as you ,the price was constraning against 10 ema with confluence of RN ,+47 pips. I think it was AA+ trade . I like constrament trades because it is ease to see them they are very reliable and it requires small SL and almost always gives you good pips(more then 15 0r 20pips)
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  • #2,937
  • Nov 26, 2010 12:30pm Nov 26, 2010 12:30pm
Hellow dancers

Anybody else took that trade? Another constrament trade I took. 15 min. 50ema and 1H 10 ema +RN +daily pivot.Curently at +12 pips and stop is at b/e .
Attached Image (click to enlarge)
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  • #2,938
  • Nov 26, 2010 12:44pm Nov 26, 2010 12:44pm
Well, it is friday and its late and price did not moved the way I expected .Sold at + 7 pips
  • #2,939
  • Nov 27, 2010 1:16am Nov 27, 2010 1:16am
Quoting george30
Kostas1, I am looking for someone to backtest some algorithms/trading ideas of mine. Could you suggest something?
kalostona,
maybe this will be of help, just found it today
http://forexsb.com/wiki/start
  • #2,940
  • Nov 29, 2010 1:37am Nov 29, 2010 1:37am
Lately, I am developing a taste for EU. This one was from a great confluence (bounce from M15 10/35/50, H1 10). Entry from M5 10 bounce, exit was confluence of Daily Pivot, H1 35, H4 10). Only danger was that the M15 MAs were flat but I had a tight SL.
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