CHOROS System | Page 166 | 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

  • #3,301
  • Jan 1, 2011 6:38am Jan 1, 2011 6:38am
Quoting bigtent
Thanks heaps for that! Resaved it all, only 28 pages instead of 73!

I think I may use this for catching up on this thread as it will be quicker.

Hey bigtent.

Great idea there. I have been thinking about it but i am no good with technical stuff. If you manage to cull all the info please do create a pdf and post it here. I would love to have that thing alaways on my bedside.

Also appreciate your first post.

Cheers..
Making money is easy- Just dont take losing trades
  • #3,302
  • Jan 3, 2011 12:55am Jan 3, 2011 12:55am
Hello Everyone,

Not sure if I missed this or not, however is there an alert we can program on MT4 that pops up (and we can send text mssgs to our phone) whenever the 10ema crosses above both the 35sma and the 50ema? This would be helpful as many times you may be watching the market during the London Open and the market has retraced quite a bit and the 10ema is under the 35sma & 50ema, however it is still in the buy zone (I separate the market in buy and sell zones thru a zone line) and thus the 10ema might not cross back above the other 2 MA's until the US open - 0r maybe late into the London. And if you, like myself live in the West coast in the US, it would be helpful to have an alert that could send me a text mssg and wake me up for that event. Any assistance is much appreciated. Much thanks to Kostas and Clay and everyone else who contributed to this system as it is one of the strategies I use and it has very good probabilities.
  • #3,303
  • Jan 3, 2011 1:50am Jan 3, 2011 1:50am
morning traders!
Happy New year to all.

looking at GU and EU on M1 charts, both dropped some pips from the Frankfurt Open.
looking for a retrace to the 14 EMA before going short.

M15 GU looks like it's going to touch the H1 35 SMA. we might see a bounce from that levels. but as we know GU likes to test almost all levels on HTF MAS before bouncing off.
so beyond that is

1) RN 1.5500
2)200 EMA 1.5492
3) H4 50 EMA 1.5489
4) H4 35 SMA 1.5460

as i was typing at these GU bounced off RN at 1.5501 right now..

looking for retrace back to M15 10 EMA before entry for M15 charts
and a rebounce back to 14 EMA for M1 charts for entry
Attached Image (click to enlarge)
Click to Enlarge Name: 03 Jan 2010 EU GU.jpg Size: 54 KB
Attached Image
  • #3,304
  • Jan 3, 2011 2:12am Jan 3, 2011 2:12am
entered at touch of 14 EMA, around 1.5516
price continued to retrace to 35/50 MAs on M1 before moving back down.
My target was +10 pips so out at 1.5506
Price went as high as 1.5526 but my SL was the usually 19 pips instead of the 10pips SL for M1 so i didnt get stopped out

Closed half the position at +10 and moved remaining to BE.
Ignore earlier sell position that was from another method.
Attached Image
  • #3,305
  • Jan 3, 2011 2:16am Jan 3, 2011 2:16am
Quoting willkohsg
morning traders!
Happy New year to all.

looking at GU and EU on M1 charts, both dropped some pips from the Frankfurt Open.
looking for a retrace to the 14 EMA before going short.

M15 GU looks like it's going to touch the H1 35 SMA. we might see a bounce from that levels. but as we know GU likes to test almost all levels on HTF MAS before bouncing off.
so beyond that is

1) RN 1.5500
2)200 EMA 1.5492
3) H4 50 EMA 1.5489
4) H4 35 SMA 1.5460

as i was typing at these GU bounced off RN at 1.5501 right now..

looking for retrace back to M15 10 EMA...
Nice analysis. Good clarity of different time frames.

Even i was watching it. But you really trading today? No markets are open.I wont be trading today. I did only a goodluck trade to open new year with +1 Though i had sold GU at 1.5550 on 1H scooped down candle. Looks like was a good trade.
Making money is easy- Just dont take losing trades
  • #3,306
  • Jan 3, 2011 2:57am Jan 3, 2011 2:57am
Quoting Survivor
Nice analysis. Good clarity of different time frames.

Even i was watching it. But you really trading today? No markets are open.I wont be trading today. I did only a goodluck trade to open new year with +1 Though i had sold GU at 1.5550 on 1H scooped down candle. Looks like was a good trade.
Hi Survivor i only traded when i saw a good breakout on GU out of the range on
the hourlies today

i'm done for the day already so just watching.

M1 gives good opportunities throughout the last few hours. probably cos of that breakout on hourlies which we can zoom into the lower timeframes for entries.

M15 still hasnt retraced back to 10EMA levels yet so no entries on M15 charts
  • #3,307
  • Jan 3, 2011 3:54am Jan 3, 2011 3:54am
Hello Dancers,

I hope you all had a good break and are all as pip-hungry as I am for 2011

I have a question for the experienced Dancers here about the "pair-selection" or how do you become aware that an A+ trade is setting up.
I have started to trade the Dance with mixed results, and I would welcome a 70 to 80% success rate I'm more at 50% right now but with RR of 1 so kind of flat.

I'd like to take less trades but with much better quality. Here is my current checklist:
- on M15: 35/50 lines close to 1 another
- on M15: good angle on all 3 MAs

As you can see attached, both GU and GA bounced off RN, without touching the MA10 around 10 / 10:30 GMT+1 but none touched => I didn't enter.

Now I'm waiting for a quick retrace to MA10 and touch.

Is that a good setup waiting or should I be aware of other things?

Many thanks,
K-trdr
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20110103 - GA trade preparation.jpg Size: 62 KB
Click to Enlarge Name: 20110103 - GU trade preparation.jpg Size: 64 KB
  • #3,308
  • Jan 3, 2011 4:06am Jan 3, 2011 4:06am
Quoting k-trdr
Hello Dancers,

I hope you all had a good break and are all as pip-hungry as I am for 2011

I have a question for the experienced Dancers here about the "pair-selection" or how do you become aware that an A+ trade is setting up.
I have started to trade the Dance with mixed results, and I would welcome a 70 to 80% success rate I'm more at 50% right now but with RR of 1 so kind of flat.

I'd like to take less trades but with much better quality. Here is my current checklist:
- on M15: 35/50 lines close to 1 another
- on M15: good angle...
IMHO Your checklist is good enough. I have used that checklist myself for some time. It will work. But be sure to take quick profits with this. Remeber that you arent watching HTF. for example, today HTF are all messed up in GU. some are long, some short, some just ranging with flat wide 35/50. I personally love it when ALL time frames are in same direction.

But watching HTF can be confusing intially thats why i used this checklist exclusively on 15M for quite some time. However watching HTF will help avoid bad trades and also give better profit target. For starter see this post by willkohsg. See how he analyses things. http://www.forexfactory.com/showthre...13#post4281413

Also note non-existent markets today with no major center open- that too on new year time. Be ready for fake outs if you trade now.
Making money is easy- Just dont take losing trades
  • #3,309
  • Jan 3, 2011 4:23am Jan 3, 2011 4:23am
Thank you Survivor.

Indeed I have difficulties following the hourly timeframe at the same time but working on it.
I take it from your message that since in the GU hourly the MAs are all messed up, I might have an OK signal on M15 but take quick profit if any, because it has lesser quality signal. If I'm targetting good signal, I should not enter.

With MAs on EUR/all completely flat and GBP/all messed up, I should probably go running this morning instead of trading

Good day to all!
k-trdr
  • #3,310
  • Jan 3, 2011 4:33am Jan 3, 2011 4:33am
Hi again,

I hope I'm not buggering the thread with "missed trades". If so please let me know.
Here is another example of not taken trade:
There was a touch of both M15 and H1 10EMA but 35/50 lines were far appart with a poor angle. This would have been a profitable trade but not within the rules. Agree?

thank you,
k-trdr
Attached Image (click to enlarge)
Click to Enlarge Name: 20110103 - EY trade preparation.jpg Size: 78 KB
  • #3,311
  • Jan 3, 2011 4:41am Jan 3, 2011 4:41am
Quoting k-trdr
Hi again,

I hope I'm not buggering the thread with "missed trades". If so please let me know.
Here is another example of not taken trade:
There was a touch of both M15 and H1 10EMA but 35/50 lines were far appart with a poor angle. This would have been a profitable trade but not within the rules. Agree?

thank you,
k-trdr
Again IMHO there wasnt a touch trade. 35/50 too wide and flat for my taste- i woudnt have dared to touch this area. And also 10EMA is not yet out of 35/50. I prefere 10EMA to cear 35/50 before taking touches off it.

But remeber that i am a very conservative trader and look for VERY best entries. Some agressive traders here might have taken it.

As an aside - it wasnt a touch trade but AFTER that touch candle closed, it looks like a buy to me with SL below low of that candle. I have seen many such trades doing well. But again this is not core dance.

Hope that helps.
Making money is easy- Just dont take losing trades
  • #3,312
  • Jan 3, 2011 5:41am Jan 3, 2011 5:41am
Quoting Survivor
Again IMHO there wasnt a touch trade. 35/50 too wide and flat for my taste- i woudnt have dared to touch this area. And also 10EMA is not yet out of 35/50. I prefere 10EMA to cear 35/50 before taking touches off it.

But remeber that i am a very conservative trader and look for VERY best entries. Some agressive traders here might have taken it.
Again thank you Survivor. I'm quite the same, conservative and looking for what I call A+ entries, which is why I ask questions to check.

Cheers,
k-trdr
  • #3,313
  • Jan 3, 2011 6:03am Jan 3, 2011 6:03am
i entered off the M15 today,
but it wasnt a A+ entry.
(Almost) touch of M15 10 EMA

entry at 1.5478 Target 1.5463
Had SL = BE when i saw +10 pips cos i know price might reverse any second.
out at +15
Attached Image
  • #3,314
  • Jan 3, 2011 7:52am Jan 3, 2011 7:52am
This was based on the H4 TF since price action this week is iffy. Bounce from confluence of H4 35, Daily S1, RN (1.5450). Target was confluence of H1 35, M15 35/50 and M5 200. I used half my normal lot size, but I ended up leaving it for double my daily pip quota, so overall a normal trading day for me money-wise.
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.jpg Size: 274 KB
  • #3,315
  • Jan 3, 2011 1:40pm Jan 3, 2011 1:40pm
Kostas1 you are a great trader, just nailing the bottom and the top of the movement... I hope you will do it again and again during this year! All the best!!!

P.S. I just couldn't stop myself from saying this... And this is on the first day of the year, with very low volatility !!!
Better to lose opportunity, rather than capital !
  • #3,316
  • Jan 3, 2011 1:57pm Jan 3, 2011 1:57pm
Quoting kostas1
This was based on the H4 TF since price action this week is iffy. Bounce from confluence of H4 35, Daily S1, RN (1.5450). Target was confluence of H1 35, M15 35/50 and M5 200. I used half my normal lot size, but I ended up leaving it for double my daily pip quota, so overall a normal trading day for me money-wise.
kostas1, that trade was amazing. I would really like to learn to dance with the market that way.
  • #3,317
  • Jan 3, 2011 2:13pm Jan 3, 2011 2:13pm
Quoting metrilbg
Kostas1 you are a great trader, just nailing the bottom and the top of the movement... I hope you will do it again and again during this year! All the best!!!

P.S. I just couldn't stop myself from saying this... And this is on the first day of the year, with very low volatility !!!
Thanks guys. I am not always that lucky. But I have noticed that when there is a strong confluence I can be quite accurate in the entry (using both M5 and M1 to fine tune it). My exit was also based on a strong confluence so it work well this time....
  • #3,318
  • Jan 3, 2011 2:15pm Jan 3, 2011 2:15pm
Quoting Haydel
kostas1, that trade was amazing. I would really like to learn to dance with the market that way.
You will. Stay focused and don't give up.
  • #3,319
  • Jan 4, 2011 1:38am Jan 4, 2011 1:38am
Interesting squeeze on the GU.

Nine of the last 15 bars on the H1 have been constrained by the 50, and now there is near perfect confluence with a RN. I almost jumped right in.

But alas, the H4 shows constrainment in the other direction, and with its trend on the 35, and wicking through the next lower RN.

One thing is for sure though, today would have been a perfect day to play H1 ping pong.

First chart is H4, second is H1.
Attached Image (click to enlarge)
Click to Enlarge Name: 500474325_ MBT MetaTrader 4 - Demo Account - GBPUSD,H1-1.jpg Size: 92 KB
Attached Image
  • #3,320
  • Jan 4, 2011 2:43am Jan 4, 2011 2:43am
Quoting duffypratt
Interesting squeeze on the GU.

Nine of the last 15 bars on the H1 have been constrained by the 50, and now there is near perfect confluence with a RN. I almost jumped right in.

But alas, the H4 shows constrainment in the other direction, and with its trend on the 35, and wicking through the next lower RN.

One thing is for sure though, today would have been a perfect day to play H1 ping pong.

First chart is H4, second is H1.
I took that trade before reading your post.
It has been good for 26 pips in a moment, but very quickly retraced and closed at BE + a coffee....
I guess the reason could be the touch of a rising TL on H1 (but not for this thread).

After the nearly retest of the same low level the explosion to the stars upwards.

I noticed that already sometimes....I do not want to talk here without Kostas ok, but it seems once again the " W " effect...of the market maker....

I saw a Webinar on that, here on FF also discussed somewhere else.
I do not trade that, but I keep it in mind...
10 traders viewing now, 1 is registered: