CHOROS System | Page 175 | 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

  • #3,481
  • Jan 14, 2011 5:45am Jan 14, 2011 5:45am
Quoting Survivor
Got this beauty on 1H EU and GU.

GU got stopped out on that last hour whipsaw but thanks to milking machine was net +20.

And EU went straight for a century... Thats a first for me. Am certainly loving it

Note: trades are obvious but will post charts later if someone needs them. Right now i gonna take a break for the day and celebrate my +120 for the day
Enjoy your hangover!
  • #3,482
  • Jan 14, 2011 6:50am Jan 14, 2011 6:50am
Kostas, are you trading currencies other than cable? (Which is very yukkypoo again tonight, so far anyway).

You did mention somewhere that you were looking at EURUSD.
  • #3,483
  • Jan 14, 2011 7:42am Jan 14, 2011 7:42am
Quoting bigtent
Kostas, are you trading currencies other than cable? (Which is very yukkypoo again tonight, so far anyway).

You did mention somewhere that you were looking at EURUSD.
Porcupine on GU today, so I was focused on EU.
  • #3,484
  • Edited 9:18am Jan 14, 2011 9:07am | Edited 9:18am
Quoting dortFX
it is always easier to understand with chart and little explanation which is why clay thread is interesting. it might not be an easy think to do but it will help even for those the will later read this thread
Background: I love constrainments. They give big moves and one can catch hi or lo with them. But i had always had this guilt feeling of leaving too much on the table and getting out for peanuts. Today when started my usual constrainment scan and i see this beauty in EU. Now in a fast mover like EU 1H constrainment ought o be worth some good pips. So i decided to hang on to this one.

Spotting the trade- Pretty strong trend. Constrainment at 10 EMA. No resistances in HTF - I mean no HTF MAs above price to hold it down.

Entry- I entered at 1H 10EMA. Could have fine tuned much better in 15M (it was looking like a ping pong in 15M- Lower of 35/50 was possibly the best entry with zero draw down and hardly 5-6 pips SL)

Management- Trailed SL like clay- to low of previous 15M candle once breakout happened.

Exit: I could see lots of PPA trouble in daily. Also RN was around. But the biggest reason was not the RN in chart but RN in pips- I decided that a 100 pip profit is enough!

Note: Forgive me for not adding any charts when in comment live in thread. I know charts help but while i was in this trade i had another trade in GU also open where i was busy milking (Though that gave only 20). Imagine the stress of handling two monsters at a time. And also my proxy doesn't like any uploads. so here comes chart after i am out of market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eumanage.jpg Size: 66 KB
Click to Enlarge Name: euspot.jpg Size: 111 KB
Making money is easy- Just dont take losing trades
  • #3,485
  • Jan 14, 2011 9:19am Jan 14, 2011 9:19am
Dear Mr. Kostas1,

Thank you for the adcise you gave me. I will follow it step by step!

Actually I have some questions about the strategy. I will not ask them now. I will complete my study of The Dance and I will return here to share my thoughts.

Mr. Kostas, since we are from the same country and we both speak Greek is there any chance that I can write to you in Greek (Facebook, MSN etc)? It will really help me!

Regards
You are allowed to fall but you are imposed to get up!
  • #3,486
  • Jan 14, 2011 9:20am Jan 14, 2011 9:20am
Quoting Survivor
Background: I love constrainments. They give big moves and one can catch hi or lo with them. But i had always had this guilt feeling of leaving too much on the table and getting out for peanuts. Today when started my usual constrainment scan and i see this beauty in EU. Now in a fast mover like EU 1H constrainment ought o be worth some good pips. So i decided to hang on to this one.

Spotting the trade- Pretty strong trend. Constrainment at 10 EMA. No resistances in HTF - I mean no HTF MAs above price to hold it down.

Entry- I entered at 1H 10EMA....
Nice!
  • #3,487
  • Jan 14, 2011 10:07am Jan 14, 2011 10:07am
Quoting natnimrey
Thanks for the reply Survivor, I really appreciate your patience. I think I typed 5/10 just for the sake of it because they're so close together, but I only use 10EMA too...so no argument about that. Also, the reason why I'm seeing price falling thru MAs, is probably because of news events, which is not indicated on the simulator. And after reading your post, now I'm clear about the first tap,thanks

To start with am always here to help everyone with whatever my understanding of system is worth.

However my harsh language was only to remind you that dance is not a ready to cook dinner. If you really dont spend a lot of time with manual and if you break rules you will lose real bad- trust me with that. That was my concern about you. Please read the manual multiple times and spend some time with simulator before going live.

And yes that first tap part is important to learn. I lost a lot of pips before kostas told me that. Also add quick profits to that. Looking for large pips has also hurt me a lot.
Making money is easy- Just dont take losing trades
  • #3,488
  • Jan 14, 2011 11:10am Jan 14, 2011 11:10am
Quoting Survivor
Background: I love constrainments. They give big moves and one can catch hi or lo with them. But i had always had this guilt feeling of leaving too much on the table and getting out for peanuts. Today when started my usual constrainment scan and i see this beauty in EU. Now in a fast mover like EU 1H constrainment ought o be worth some good pips. So i decided to hang on to this one.

Spotting the trade- Pretty strong trend. Constrainment at 10 EMA. No resistances in HTF - I mean no HTF MAs above price to hold it down.

Entry- I entered at 1H...
Posting your charts after the fact leads to some very clear and detailed explanation. And congratulations on a great trade.

Look at the M15. The point you mark as the best entry is also the first touch of the 35. This doesn't look like as strong a dance trade as your constrainment, but it's still by the rules. (Edit: it's by the rules of the first manual. In the most recent manual, it looks like the two bar rule might apply to 35/50 bounces, so it wouldn't follow that.)

Did you milk this one for extra pips before it took off, or did you just get the single entry?

Your exit also makes it look like you were very in tune with the market. It must be nice to get out almost right at the peak. Do that a few times, and you might start thinking about reversing direction on your trade (a cool, but dangerous thought). This looks like a situation where the trailing stop fit the bill very nicely. If I had been in this trade, I probably would have given back half the pips.

The other interesting thing on this chart is the touch of the 10 EMA on the way down. Even here, there was a reaction off the 10, and it looks to me like a 10 EMA touch trade would have been a break even trade, before price dropped back all the way. So the dance was working, sort of, even on the trip back down.
  • #3,489
  • Jan 14, 2011 11:38am Jan 14, 2011 11:38am
Quoting duffypratt
Posting your charts after the fact leads to some very clear and detailed explanation....
Thanks big tent. And some interesting questions here from duffy the details analyst of the forum Will try to answer them though forgive me for any typos. This is friday evening and i have done what i would have thought impossible few months back. Naturally busy toasting some good rum to Clay and kostas. Where the hell is the idiot who once said dance is all about pins and hammers and scalping?

Ok- "The point you mark as the best entry is also the first touch of the 35." agreed. I started salvating after seeing this one and didn't fine tune well. Will be more careful in future.

I didnt milk this one as i had another one open in GU. Turned out to hit my sl but still managed +20 from her. Also, GU 10 EMA was almost horizontal so i was worried there and giving more time to her. But this is funny. Earlier my strike rate with constrainments was about 90%. Now with this milking even remaining 10% are turning out to be winners. Lets see how it goes in future. Yes it was single entry no double lots here. i entered one lot each on EU and GU not knowing which one will be 100 and which one 20


"Your exit also makes it look like you were very in tune with the market." i dont know. Even my tariling SL would have given good pips. but something just cried within me- something like " you moron cant you see that PPA in D1 charts and those wicks in 15M. and why cant you just take these quick 100 pips ". Maybe just got lucky and saved few pips there.

"Do that a few times, and you might start thinking about reversing direction on your trade". Never. Am never ever going to violate what clay so kindly taught me.

"This looks like a situation where the trailing stop fit the bill very nicely. " yes my first experience with it. I dont know how well it will turn out. But i think its your confidence to jusge that a trade is going to be a big one or a small one. In this case i could see clearly that this baby is going to run for marathon. again lets see how it goes. i wont be trailing like this in slow movers surely.

About downward move- i didn't really observe it real time - after 120 i forced myself to stop by shutting down my PC. In retrospect, i would have probably lost money there trying to catch that one. thanks god i called it a day. However here is another point i have been wondering about- I have seen leemonk once reversing a failed dance trade and dmaking money. Maybe if someone reversed long to short after 10 Ema break? dont know . Just a thought from a drunken head.

Hope that covers everything.
Cheers all.
Making money is easy- Just dont take losing trades
  • #3,490
  • Jan 14, 2011 12:53pm Jan 14, 2011 12:53pm
Quoting iero4
Dear Mr. Kostas1,

Thank you for the adcise you gave me. I will follow it step by step!

Actually I have some questions about the strategy. I will not ask them now. I will complete my study of The Dance and I will return here to share my thoughts.

Mr. Kostas, since we are from the same country and we both speak Greek is there any chance that I can write to you in Greek (Facebook, MSN etc)? It will really help me!

Regards
I am avoiding crap like Facebook, etc. But with a few more posts you will be able to PM me in Chinese (I mean Greek....)
  • #3,491
  • Jan 14, 2011 12:54pm Jan 14, 2011 12:54pm
Quoting kostas1
I am avoiding crap like Facebook, etc. But with a few more posts you will be able to PM me in Chinese (I mean Greek....)
this place is full of them =P
  • #3,492
  • Jan 14, 2011 12:56pm Jan 14, 2011 12:56pm
Quoting Survivor
Thanks big tent. And some interesting questions here from duffy the details analyst of the forum Will try to answer them though forgive me for any typos. This is friday evening and i have done what i would have thought impossible few months back. Naturally busy toasting some good rum to Clay and kostas. Where the hell is the idiot who once said dance is all about pins and hammers and scalping?

Ok- "The point you mark as the best entry is also the first touch of the 35." agreed. I started salvating after seeing this one and didn't fine tune...
Survivor,
You are on a roll with these great posts!
Thanks for taking care of the thread.
My schedule is crazy this year and I am not sure how much I can post. You guys are doing a great job in maintaining the CHOROS in a rhythm.
  • #3,493
  • Jan 14, 2011 1:11pm Jan 14, 2011 1:11pm
Quoting kostas1
Survivor,
You are on a roll with these great posts!
Thanks for taking care of the thread.
My schedule is crazy this year and I am not sure how much I can post. You guys are doing a great job in maintaining the CHOROS in a rhythm.

It's an emotional moment for me after first big catch with small SL.

A thanks from YOU is too much for me Kostas1. It's me who thanks you after every single trade. I was good in HTF ( at least that's what i think). But 15M with tight SL was new territorry to me. I was blind. I blew accounts if you know what it means to a professional trader. But dance and you gave me sights. Please never say thank you. i always bow to you-every morning if you trust me.

I will continue to help teach others what i have learnt from you forever. If i ever stop you and clay can safely assume either i am unreachable or i am dead somewhere buried very deep
Making money is easy- Just dont take losing trades
  • #3,494
  • Jan 14, 2011 2:36pm Jan 14, 2011 2:36pm
Congratulations, Survivor, enjoy the moment.

Very impressive trade... ;-)
  • #3,495
  • Jan 14, 2011 2:43pm Jan 14, 2011 2:43pm
Quoting Survivor
It's an emotional moment for me after first big catch with small SL.

A thanks from YOU is too much for me Kostas1. It's me who thanks you after every single trade. I was good in HTF ( at least that's what i think). But 15M with tight SL was new territorry to me. I was blind. I blew accounts if you know what it means to a professional trader. But dance and you gave me sights. Please never say thank you. i always bow to you-every morning if you trust me.

I will continue to help teach others what i have learnt from you forever. If i ever stop...
Well, at the rate you are going now, you are going to have to consider changing your name. "Survivor" may no longer be apt.
  • #3,496
  • Jan 14, 2011 4:55pm Jan 14, 2011 4:55pm
Quoting Survivor
Background: I love constrainments. They give big moves and one can catch hi or lo with them. But i had always had this guilt feeling of leaving too much on the table and getting out for peanuts. Today when started my usual constrainment scan and i see this beauty in EU. Now in a fast mover like EU 1H constrainment ought o be worth some good pips. So i decided to hang on to this one.

Spotting the trade- Pretty strong trend. Constrainment at 10 EMA. No resistances in HTF - I mean no HTF MAs above price to hold it down.

Entry- I entered at 1H 10EMA....
Hello Dancers,

First of all congratulation Survivor for the trade. I would like to ask a few questions about the trade? I took the same trade on demo this morning with exit at 1.3390 I did not trust the trade that will go that far, my mistake.

The constrainment happened during the night when the pair is normaly sleeping and the price was just before an area of strong support (1.3380 to 1.3410), is this not taken into account before the trade?

Thank you
  • #3,497
  • Jan 14, 2011 6:29pm Jan 14, 2011 6:29pm
Hey Mr Survivor.
Great trade. Now is the time to not compromise what you have been doing - overconfidence and unrealistic expectations of trades becoming runners are your enemies after a brilliant outcome like that. Trades like that help the bottom line but you cant expect to get many like that..you saw things line up and based on experience and discretion you gave it the room to move and it worked-well done.
All that matters is winning the week
  • #3,498
  • Jan 15, 2011 12:03am Jan 15, 2011 12:03am
G'day peoples!

Did anyone else get this monster spike on cable, or is it just IBFX? Server time is GMT and the second chart is 1M.

As you can see, GoMarkets didn't have it!

Is there a "reliable" source of charts online to check against?

Attached Image


Attached Image


Attached Image
  • #3,499
  • Jan 15, 2011 12:30am Jan 15, 2011 12:30am
Quoting bigtent
G'day peoples!

Did anyone else get this monster spike on cable, or is it just IBFX? Server time is GMT and the second chart is 1M.

As you can see, GoMarkets didn't have it!

Is there a "reliable" source of charts online to check against?

Attachment

Attachment

Attachment

Very good online charts -
http://www.dailyfx.com/charts/netdaniachart/


They also have an useful economy calendar and live news updates- and of course lots of analysis but i have stopped reading any of this after i started dancing. Though i watch out for big data releases.

I have found charts to be good and reliable. Useful when you have to check charts from another pc without meta trader.

That reminds me. I am done with rum and its hangover. I am looking for a good simulator. I have realized harder i work luckier i get. Its time for some serious simulator sessions.
Making money is easy- Just dont take losing trades
  • #3,500
  • Jan 15, 2011 12:33am Jan 15, 2011 12:33am
Hi Bigtent
Go ( in Aust) is very good since they upgraded their servers and feeds over the last 12 months or so. A spike like that is almost invariably a broker feed error and will need deletion to correct the charts. I havent seen that happen in a Go chart for ages.
All that matters is winning the week
15 traders viewing now