CHOROS System | Page 164 | 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

  • #3,261
  • Dec 23, 2010 5:29am Dec 23, 2010 5:29am
Quoting Survivor
Hi,

while the original rules remain same, the manual has undergone some updates. Please download latest manual from here- http://www.forexfactory.com/showthre...al#post4164418


Cheers
Thanks. Got it.
Made in Ukraine
  • #3,262
  • Dec 23, 2010 5:43am Dec 23, 2010 5:43am
Quoting FrankBlack
K Minos you just got lucky.

The best trade according to the rules came 15 mins later and you can see it on your 15 min chart.

Price hit 10, 50 ma and daily pivot, stopped 1pip from 35 and went down for +50 pips.

But it is better to be lucky than to be good.
Looks like you are talking about the candle I marked with the green arrow.
So, when was the time of entry: the same second when PA touches the 10, 50 ma or should I wait for the candle close?
Sorry for noob question, I am still learning the basics of "The Dance". :nerd:
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 23.12.png Size: 30 KB
Made in Ukraine
  • #3,263
  • Dec 23, 2010 6:07am Dec 23, 2010 6:07am
Quoting Badass_UA
Looks like you are talking about the candle I marked with the green arrow.
So, when was the time of entry: the same second when PA touches the 10, 50 ma or should I wait for the candle close?
Sorry for noob question, I am still learning the basics of "The Dance". :nerd:
Thanks.
Not the close of the bar. Here, you might have waited after the first touch of the 50 to see if it was going to come up to the 35. It almost made it, but didn't. You might take it on the way back down before the 50, at the 50 or even at the 10. This is one of those situations where, I think, Kostas would fine tune the entry on the 5 minute chart.

By Dance rules, it would be OK to take the touch of the 50 here, or to wait as I said. This does not look like a place where you would take the first touch off of the 10.
  • #3,264
  • Dec 23, 2010 6:36am Dec 23, 2010 6:36am
Quoting duffypratt
Not the close of the bar. Here, you might have waited after the first touch of the 50 to see if it was going to come up to the 35. It almost made it, but didn't. You might take it on the way back down before the 50, at the 50 or even at the 10. This is one of those situations where, I think, Kostas would fine tune the entry on the 5 minute chart.

By Dance rules, it would be OK to take the touch of the 50 here, or to wait as I said. This does not look like a place where you would take the first touch off of the 10.
Thanks. How about the next screen? Looks almost the same. Would be a valid entry at 50 ma touch?
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 23.12-2.png Size: 11 KB
Made in Ukraine
  • #3,265
  • Dec 23, 2010 9:05am Dec 23, 2010 9:05am
Guys i realise it's Xmas so don't expect a reply anytime soon, so no probs. In the manual it states the following: "and price must have moved at least 15 pips before the retrace touch occurs". This is for touch trades. Can someone explain what this means pls?
Trade the price action, not the cash!!!
  • #3,266
  • Dec 23, 2010 10:03am Dec 23, 2010 10:03am
Quoting Survivor
Weather you made profit or loss is irrelevent. What is important is to stick to rules.



People,
this is one of the keys to success !

Bravo Survivor.
  • #3,267
  • Dec 23, 2010 10:08am Dec 23, 2010 10:08am
Hi

It is a question that is not relating to the thread itself, the chart I'm posting it's EU/US and I was looking at it because of the Badass_UA question above. Now I'm realising that my chart is different, the candle he is talking about is a doji in my chart. Why is this happening? Both charts are M15 from this morning.

Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #3,268
  • Dec 23, 2010 10:11am Dec 23, 2010 10:11am
Quoting Badass_UA
Thanks. How about the next screen? Looks almost the same. Would be a valid entry at 50 ma touch?
Thanks.
That is a "first" touch of the 50.
It "may" be good (depending on your own Risk attitude), but:

1) never take anyone if not the "first" one.
2) better if the MA's are very near / on top of each other.
3) their angle must be steep

consider that during "normal working days" there are several much better and clearer signals than that to may take.
  • #3,269
  • Dec 23, 2010 10:24am Dec 23, 2010 10:24am
Quoting Scullmeister
Guys i realise it's Xmas so don't expect a reply anytime soon, so no probs. In the manual it states the following: "and price must have moved at least 15 pips before the retrace touch occurs". This is for touch trades. Can someone explain what this means pls?
Hi Scullmeister,

nice to have a MA Bounce Trader here, I would appreciate to read your comments on this thread.

Surely many others could explain it better than me, but here is how I see it:

we consider "Touch trades" when the price hits an EMA10 (as an example) on a retracement (2 bars on M15) of a previous move of at least 15 pips in a certain direction.

Price goes downwards (at least 15 pips for being a correct signal), then it makes a retracement of 2 bars (M15), Touches the EMA10 and start again in the previuos trend direction.

I hope it is clear somehow

There are anyway several pictures and explanations on the Manual.
  • #3,270
  • Dec 23, 2010 12:16pm Dec 23, 2010 12:16pm
Quoting Whenever
Hi Scullmeister,

nice to have a MA Bounce Trader here, I would appreciate to read your comments on this thread.

Surely many others could explain it better than me, but here is how I see it:

we consider "Touch trades" when the price hits an EMA10 (as an example) on a retracement (2 bars on M15) of a previous move of at least 15 pips in a certain direction.

Price goes downwards (at least 15 pips for being a correct signal), then it makes a retracement of 2 bars (M15), Touches the EMA10 and start again in the previuos trend direction....
Really appreciate this reply, I think I get it now. So if for example we are long, so we are in effect waiting for a retrace/pullback to the 10 ema for example the price should have moved 15 pips upwards then retraced downwards no more than 2/3 bars then you can take the trade as long as the 10 ema is steep around 40-ish degrees. I think I get it, cheers mate I hope to be here more after Xmas.
Trade the price action, not the cash!!!
  • #3,271
  • Dec 24, 2010 1:40am Dec 24, 2010 1:40am
Happy Christmas Eve all...with the pros on holiday I've took some time reading the thread and found out the more I read, the less I realized I knew lol.

I'm not taking this trade but just curious where the price is going.EUR/AUD had been on a downtrend all along and looks set to continue here, touching 50 and near RN as well. I also see a double top like resistance just hours before, but not entering as its really near the daily pivot...or maybe it's good for 10 pips?

Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 61 KB
  • #3,272
  • Dec 24, 2010 2:12am Dec 24, 2010 2:12am
Happy Xmas to all the Choros traders. I seem to struggle with discipline with this method in that its hard for me to not take trades when they are so-so or not quite within the rules. So I have achieved a breakeven result the last few months. 2011 my goal is to trade quality and within the rules, it wont take much improvement to move into profitability from here. I trade another method as well ( which gives far fewer trades) which I have good success with but the goal is to trade them both. I dont post much but always keep an eye on the thread and it is good to see it alive and well with some impressive new members who very quickly have surpassed my own skill level..congratulations to them and to Kostas in particular for keeping this method alive and being a good role model.

all the best for the new year to all.
All that matters is winning the week
  • #3,273
  • Dec 24, 2010 10:45am Dec 24, 2010 10:45am
Quoting Badass_UA
Thanks. How about the next screen? Looks almost the same. Would be a valid entry at 50 ma touch?
Thanks.
This trade is OK according to the manual, so yes, its a valid 50 ma touch.

Whenever has pointed out some of the difficulties with this trade. The MAs are a bit flat and they are separated. They are also diverging.

I probably would have missed this trade. Overall, I think I would have been fine with the set-up. But I would have waited for the price to touch the 35. It pulled back before-hand, and by the time it got back to the 50, I would be doubtful about whether I was in too late.

Since it actually is a valid dance trade, my hesitation might be my problem and not a problem with the trade. Different people have different approaches to this situation. It's never "wrong" to pass up on OK trades, because there will always be more trades coming along. But it also definitely would not be wrong to take this trade.
  • #3,274
  • Dec 24, 2010 10:54am Dec 24, 2010 10:54am
Quoting Scullmeister
Really appreciate this reply, I think I get it now. So if for example we are long, so we are in effect waiting for a retrace/pullback to the 10 ema for example the price should have moved 15 pips upwards then retraced downwards no more than 2/3 bars then you can take the trade as long as the 10 ema is steep around 40-ish degrees. I think I get it, cheers mate I hope to be here more after Xmas.
For 10 EMA touch trades, you can also think of it like this: if it pulls back to the 10, and it takes less than 15 pips to get there, then the MAs probably aren't steep enough in the first place.

The same rule, of course applies to the 35/50 bounces. But here there can be a tricky question. Suppose there is a 10 pip separation between the MAs. Price retraces 12 pips to the first MA. No trade. It then continues to the second MA, so has moved 22 pips total. Trade here? (I think the answer would likely depend on the individual chart and the other factors involved. But it's not something I've considered before.)
  • #3,275
  • Dec 25, 2010 1:06pm Dec 25, 2010 1:06pm
Wishing all on the list and your families the happiest of the holiday season.
  • #3,276
  • Dec 29, 2010 5:24am Dec 29, 2010 5:24am
Got a surprise present from our friend. Santa Clay has sent me the latest version of the Dance manual. He also mentioned that this will be the last update of the manual. It is split in two parts so that can be posted here.

My suggestion to newbies: This manual describes a modified version of the Dance which Clay calls the "Simple Dance". It is based on M1 and the 14EMA, 35MA, 50EMA on this timeframe. As a result, it provides for more opportunities to trade during the day. I didn't have a chance to trade this yet but I would be more careful with possible fake-outs on M1. I would suggest that you first become an expert with the basic Dance TFs (M15, H1, M5) before attempting this. On the other hand, if you test it long enough in DEMO you may find it easier to trade. Actually, it may be more useful to my way of taking profits (scalping 10-15p per trade). Anyway, without further due here it is.

I would like to take this opportunity to thank Clay one more time for supporting this thread with his contributions.
Attached File(s)
File Type: pdf The Simple Dance Part One.pdf   1.3 MB | 5,669 downloads
File Type: pdf The Simple Dance Part Two.pdf   1.7 MB | 5,956 downloads
  • #3,277
  • Dec 29, 2010 5:49am Dec 29, 2010 5:49am
Quoting kostas1
Got a surprise present from our friend. Santa Clay has sent me the latest version of the Dance manual. He also mentioned that this will be the last update of the manual. It is split in two parts so that can be posted here..
Downloaded with Light Speedy !!!

Thank you Kostas,

THANK YOU CLAY!
  • #3,278
  • Dec 29, 2010 1:57pm Dec 29, 2010 1:57pm
Downloading now. :-D

Thanks for this awesome stuff, Clay & Kostas. I really appreciate all your efforts.

I'm impatient for discovering the benefits of this improvement, although the strategy is amazing already.

Greetings to you all from Spain and good trading, of course!
  • #3,279
  • Dec 30, 2010 1:14am Dec 30, 2010 1:14am
I got the following request from Clay:

"Please be sure to tell them that on this one, the 200 ema on M1 determines whether you go long or short and what you look for. It decreases the total number of trades in a day, but keeps them on the right side of the "Trend Of the Moment" much better. Also, touch trades on the 14 are OK, but off the 35/50 are much, much stronger and it seems to me that constrainment is a more prevalent entry signal on M1 than Touch trades are.

Keep in mind that the main issue here is to be able to take advantage of the shorter trend movements. There are often several shorter 30 pip "trendlets" during a day that are part of a larger "pull back" or resurgence of a short trend. It should become extremely apparent on M1 what I am talking about once seen on a chart live.

God bless,
Clay"


Kostas
  • #3,280
  • Dec 30, 2010 2:28am Dec 30, 2010 2:28am
Quoting kostas1
Got a surprise present from our friend. Santa Clay has sent me the latest version of the Dance manual. He also mentioned that this will be the last update of the manual. It is split in two parts so that can be posted here.

My suggestion to newbies: This manual describes a modified version of the Dance which Clay calls the "Simple Dance". It is based on M1 and the 14EMA, 35MA, 50EMA on this timeframe. As a result, it provides for more opportunities to trade during the day. I didn't have a chance to trade this yet but...
Wow! amazing gift. i have been trying to experiment with 1M without much success. 15M has too few A+ entries. Maybe this one will work. Thank you.
Making money is easy- Just dont take losing trades
32 traders viewing now