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CHOROS System

  • #3,961
  • Feb 14, 2011 3:11am Feb 14, 2011 3:11am
Quoting kostas1
For a new guy you are learning quickly! Just noticed your previous post about my EU trade. You are correct again, I am looking for 15-20p since it's a strong higher TF confluence. But if it starts stalling (on M1) around 10p, I will take profit there.
Thanks Kostas1, I've been watching and trading for about a month, now I am feeling a little more confident in posting.
  • #3,962
  • Feb 14, 2011 3:33am Feb 14, 2011 3:33am
Strange pair of trades I took earlier: I saw EURUSD crossing the 15M 35/50 and a look at the 1H revealed that there was resistance from the MAs there, so the trade should be short. I entered at the arrow, trailed the stop and exited with 48 pips.

At the same time I was watching GBPUSD. It touched the 15M 35 MA but this time a look at the 1H MAs showed that they were below the price and so they could provide support. It looked like a good chance for a classic touch off of the 35. So I entered this pair long, fully realizing that most probably one of the two trades was going to be stopped out. So it happened and I lost the GBPUSD. I lost 20 pips on this so the net result is positive. However I'm curious: If someone was watching only the GBPUSD, why wouldn't he go long at the touch of the 35 ? It looked to me like a retest of the MA that happens after a reversal...
Attached Image (click to enlarge)
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  • #3,963
  • Feb 14, 2011 3:38am Feb 14, 2011 3:38am
Quoting micmic
Strange pair of trades I took earlier: I saw EURUSD crossing the 15M 35/50 and a look at the 1H revealed that there was resistance from the MAs there, so the trade should be short. I entered at the arrow, trailed the stop and exited with 48 pips.

At the same time I was watching GBPUSD. It touched the 15M 35 MA but this time a look at the 1H MAs showed that they were below the price and so they could provide support. It looked like a good chance for a classic touch off of the 35. So I entered this pair long, fully realizing that most probably one...
The GU was not a good trade to take. The M15 35/50 were well separated, so no touch trade there. For 35/50 bounce you should be using the M5. If you look there, maybe you could grab 10p from a long from the first touch of the M15 35, but after that all the M5 bars indicated short action...
  • #3,964
  • Feb 14, 2011 4:03am Feb 14, 2011 4:03am
Quoting kostas1
The GU was not a good trade to take. The M15 35/50 were well separated, so no touch trade there. For 35/50 bounce you should be using the M5. If you look there, maybe you could grab 10p from a long from the first touch of the M15 35, but after that all the M5 bars indicated short action...
Indeed, had I entered at the exact moment of the touch I would had at least moved the stop to BE. But I was a little late. And in retrospect I see that I should have probably been alarmed by the repeated failure of the price to reach 1.6080 (had I been using an oscillator it would have probably shown divergence over there).
  • #3,965
  • Feb 14, 2011 4:03am Feb 14, 2011 4:03am
Quoting kostas1
Confluence of:
1. Daily Pivot
2. RN
3. H1 35
4. H4 10 (right on the pip).

Couldn't ask for a better confluence on a Monday!!!
It looks so obvious on your charts. I keep missing these confluences because of bad chart setup.
So need these indicators if someone can upload please

1. Multi time pivots
2. HTF MA in 15M
3. RN


Also kostas it would be great if you can upload your template maybe.
Making money is easy- Just dont take losing trades
  • #3,966
  • Feb 14, 2011 4:20am Feb 14, 2011 4:20am
In the graph below, you can clearly see what I was talking about when I said that I draw trend lines to define an entry point at steep 10 EMAs.

I wait about 2-3 candles to form and join their tops. I then elongate the trend line and wait for the next candle to touch it.

Attached Image (click to enlarge)
Click to Enlarge Name: Untitled1.jpg Size: 109 KB
You are allowed to fall but you are imposed to get up!
  • #3,967
  • Edited 4:34am Feb 14, 2011 4:21am | Edited 4:34am
Quoting Survivor
It looks so obvious on your charts. I keep missing these confluences because of bad chart setup.
So need these indicators if someone can upload please

1. Multi time pivots
2. HTF MA in 15M
3. RN


Also kostas it would be great if you can upload your template maybe.
there you go m8,
i havent included the >luktom visual editor< or the >fxguru piptracker<
if you need them i will up too.
cheers
EDIT: the template is the one I use, i'm not too sure Kostas use the same. i think he has the 200SMA and some others on his
EDIT2: the "Dance MovingAveragesMTF" is the original file, the correct parameters are in the template as you will see. (or if you use the Dance MovingAveragesMTF file you will need to change the last 3 values to (0, 35, 10) instead of (0, 35, 50)
Attached File(s)
File Type: zip indis_and_template.zip   9 KB | 791 downloads
  • #3,968
  • Feb 14, 2011 4:40am Feb 14, 2011 4:40am
Quoting asos101
there you go m8,
i havent included the >luktom visual editor< or the >fxguru piptracker<
if you need them i will up too.
cheers
EDIT: the template is the one I use, i'm not too sure Kostas use the same. i think he has the 200SMA and some others on his
EDIT2: the "Dance MovingAveragesMTF" is the original file, the correct parameters are in the template as you will see. (or if you use the Dance MovingAveragesMTF file you will need to change the last 3 values to (0, 35, 10) instead of (0, 35, 50)
Asos101's charts are correct. He got my settings from some PM a while ago. Right now I am testing some changes in my M5 and I don't want to confuse you with my current M5 settings. If something good comes out of it, I will let you know.

EDIT: I found the attached MA indi very useful since it changes color with the curvature of the MA
Attached File(s)
File Type: mq4 MA_In_Color.mq4   4 KB | 529 downloads
  • #3,969
  • Feb 14, 2011 5:59am Feb 14, 2011 5:59am
Quoting kostas1
Asos101's charts are correct. He got my settings from some PM a while ago. Right now I am testing some changes in my M5 and I don't want to confuse you with my current M5 settings. If something good comes out of it, I will let you know.

EDIT: I found the attached MA indi very useful since it changes color with the curvature of the MA
I'll have to check that one out more. I had to use 6 buffers to get the MAs smooth with colour changes and no gaps.... that seems to have managed it with 3 (which I tried at first). I got the 6 buffer one from MQL.com. Have to see what the difference is, as it would reduce the code a lot!
  • #3,970
  • Feb 14, 2011 9:08am Feb 14, 2011 9:08am
Quoting asos101
there you go m8,
i havent included the >luktom visual editor< or the >fxguru piptracker<
if you need them i will up too.
cheers
EDIT: the template is the one I use, i'm not too sure Kostas use the same. i think he has the 200SMA and some others on his
EDIT2: the "Dance MovingAveragesMTF" is the original file, the correct parameters are in the template as you will see. (or if you use the Dance MovingAveragesMTF file you will need to change the last 3 values to (0, 35, 10) instead of (0, 35, 50)

Thanks asos and kostas for indis
Making money is easy- Just dont take losing trades
  • #3,971
  • Feb 14, 2011 6:14pm Feb 14, 2011 6:14pm
Slim pickings on the M15 today. I missed the beginning of the big move down, and was looking for a way in, but the Dance wasn’t offering anything up that I could see. Ended the day without taking a trade.

1) 35/50 Bounce. Loser. No trade here. First, I see this as countertrend. The H1 is still bearish, as is the H4. Daily chart is still in an uptrend, but right now its on a retrace, so also looking bearish. As Kostas noted, the MAs are also pretty far from each other here. Moreover, they are very strongly diverging. I count staying out of this trade as a kind of minor victory for the night.

2) 10 Touch (Almost). Good steep MA here. But I was hesitant about this trade, mostly because of the hammer just before this bar, which was also the second test of a resistance area. On the plus side, there is a nice confluence with the 100MA. I decided I would be willing to take the trade if I got a touch, and I was going to keep the trade on a short leash. I put a sell limit on, and missed the trade by three pips.

3) 10 Touch. This is the first actual touch of the 10. The MA is not as steep here, and it takes 5 bars to reach. For that reason, this should be a short take profit trade, since its basically picking up noise at the end of the move. Good for 15 pips.

4) 35/50 Bounce. Loser. This is an almost perfect confluence of the 35, 50 and 100 MAs. Also a good confluence with the H1 35. I see nothing wrong with this trade, except that it loses. The M5 chart at this point shows that price pretty much blew through the MAs. Then at the top, there was a hanging man, followed by a bearish engulfing candle, followed by a shooting star. So, a more nimble trader might be able to make something out of this situation. (The second attached chart shows the M5 situation here) As a straight Dance trade, its a loser.

5) 35/50 Bounce. Taken at the 35, where there is confluence with an S/R line, and with the Daily S1, this is a loser trade. Taken at the 50, you might get 10-15 pips from it. But what’s the difference between this and Trade 1. The MAs have diverged here, much the way they did there. The advantage of this trade is that its with the higher time frames. That gets balanced out by its being a second touch of these MAs. Ultimately, I think this is not a good trade, and probably should be passed.
Attached Image (click to enlarge)
Click to Enlarge Name: 11508143_ MBT MetaTrader 4-1.jpg Size: 71 KB
Attached Image
  • #3,972
  • Feb 14, 2011 6:53pm Feb 14, 2011 6:53pm
good work duffypratt !

You managed "not to do anything stuped meanwhile" and didn't lose capital which is great !
Better to lose opportunity, rather than capital !
  • #3,973
  • Feb 14, 2011 10:40pm Feb 14, 2011 10:40pm
Quoting duffypratt
Slim pickings on the M15 today....
Like you, I was struggling for entries, but I eventually got two trades....

First - tried to take Kostas' bounce he pointed out on the EU, but after I placed the trade, I couldn't see it on the chart, but it was in my terminal window... WTF???

Then I realized that I'd entered on the GBP... must've had that window highlighted when I activated the script by hotkey!

Dodged the bullet exiting for SBE+1 on both parts!

After I edited my scripts to show the PAIR in the "So you want to ..." pop up box.... I attempted a short at the H1 10/M15 35 confluence and watching the price action, got out of that for 4.7 and 4.4 pips (could have been 10, but I waited too long).

If I'd chosen the GBP at the same time - was a decent trade 20+ pips, but like Murphy's Law in multi-lane traffic, the other lane is always moving faster!

At least it was a positive day, sort of!
  • #3,974
  • Feb 15, 2011 12:24am Feb 15, 2011 12:24am
Quoting bigtent
Like you, I was struggling for entries, but I eventually got two trades....

First - tried to take Kostas' bounce he pointed out on the EU, but after I placed the trade, I couldn't see it on the chart, but it was in my terminal window... WTF???

Then I realized that I'd entered on the GBP... must've had that window highlighted when I activated the script by hotkey!

Dodged the bullet exiting for SBE+1 on both parts!

After I edited my scripts to show the PAIR in the "So you want to ..." pop up box.... I...
Twice, I've had the wrong pair trade, and I try to be very careful about it now. My problem is with my magic mouse. It has a touch sensitive top, and that apparently scrolls the pair box sometimes if I'm not careful how I'm holding it. (One of the few drawbacks of Apple products).

I congratulate you on getting out of your trades with at least some pips. I'm always in a bind on those things. On the one hand, I don't want to get into the habit of bailing on trades that still have a chance. And on the other, it's nice actually to get a few pips. In some ways, it's easier for me to watch a trade that's a pure loser go straight for the stop than it is to see a trade that's made it to 8-10 pips and then start heading south.
  • #3,975
  • Feb 15, 2011 12:59am Feb 15, 2011 12:59am
Some points of interest for EU today.
Attached Image (click to enlarge)
Click to Enlarge Name: EU1.jpg Size: 305 KB
  • #3,976
  • Feb 15, 2011 1:11am Feb 15, 2011 1:11am
Quoting duffypratt
Twice, I've had the wrong pair trade, and I try to be very careful about it now....
Common thing in trading psychology ... where you can get to a point where it seems you are thinking small losses are good and small wins are bad.... so wins are bad and losses are good???

We are strange cattle, indeed!
  • #3,977
  • Feb 15, 2011 1:17am Feb 15, 2011 1:17am
Quoting bigtent
Common thing in trading psychology ... where you can get to a point where it seems you are thinking small losses are good and small wins are bad.... so wins are bad and losses are good???

We are strange cattle, indeed!
The way I feel with CHOROS: Small wins are good, SMALLER losses are good.


P.S. Yesterday's confluence H4 bounce may repeat (H4 SMA200, Daily 35, Monthly pivot). Watch M5 action for rejection first.
  • #3,978
  • Feb 15, 2011 1:18am Feb 15, 2011 1:18am
G'day Kostas,

Pass this on to Clay and see if it is what he is after. It's only basic at the moment, and I haven't had time to test it (compiles OK), so the old rule applies.... "DEMO ONLY!!!!"

For now there are only 2 parameters, Pips_buffer (how many pips above/below previous candle)) and Trail_before_profit (true/false).

I want to add auto SBE+1 after X pips later.
Attached File(s)
File Type: mq4 Dance_trail.0.mq4   3 KB | 379 downloads
  • #3,979
  • Feb 15, 2011 1:24am Feb 15, 2011 1:24am
Quoting kostas1
The way I feel with CHOROS: Small wins are good, SMALLER losses are good.


P.S. Yesterday's confluence H4 bounce may repeat (H4 SMA200, Daily 35, Monthly pivot). Watch M5 action for rejection first.
Missed today's move down, not sure exactly how I'd have entered anyway.

Watching for the other. Had a fakeout before the real move yesterday that would have rattled me.... if my trade had've been on the right pair LOL.
  • #3,980
  • Feb 15, 2011 1:30am Feb 15, 2011 1:30am
If anyone is using my scripts to open trades here are the updated ones.

Only real mod is adding the name of the pair in the dialog to avoid stuff-ups like the one I made yesterday.

Remember, Money_mgmnt.mqh has to go in your experts\include folder, the others under experts\scripts


Attached File(s)
File Type: zip Trade scripts.zip   11 KB | 428 downloads
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