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CHOROS System

  • #4,181
  • Feb 22, 2011 3:57am Feb 22, 2011 3:57am
Quoting kostas1
M5 10 bounce confluenced with RN and a nice rejection bar. +13p from this scalp.
And of course I took the same trade.... +10 for me.

Just got +20 off this very nice GJ touch. I expect it to drop much lower than when I closed it, but I needed to lock in my daily pips after a bad GU trade earlier.

This trade doesn't need much explanation - the 35/50s are coming together, there is a huge movement in the market and then a retrace to the 10. I took it at the touch of the 10, and then it went a few pips above it before dropping.
Attached Image
  • #4,182
  • Feb 22, 2011 4:09am Feb 22, 2011 4:09am
hi, guys!

I´m new in this thread. i took this trade in eur/usd m15. Ist that okay? Sry for my bad englisch
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.gif Size: 15 KB
  • #4,183
  • Feb 22, 2011 4:34am Feb 22, 2011 4:34am
There is a percentage tool which I sometimes use to gauge price movement. I just leave a vertical line of 0,50% length on the charts and so I can make comparisons. Most times I will just calculate the percentage of the MA price change.

I took this trade on a 5 EMA touch/cross on the 1H AUDUSD chart for 17 pips (exit a little above the very round number). Since yesterday I wanted to take advantage of the AUD fall and luckily I wasn't too late.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.gif Size: 29 KB
  • #4,184
  • Feb 22, 2011 5:10am Feb 22, 2011 5:10am
I'm going to dig a little deeper in the philosophical vein of the last days This time it's about stopping when you achieve your target or after 1-2 losses. Surely this must be something that an experienced trader must strive to overcome ? I mean, isn't our goal to function almost automatically when we see a trade setup ? A lot of practice will make us recognize which trades we must take and which to avoid. Fear and greed can certainly affect our judgement, but until when ? Can't we ever reach a stage where we will be able to see a trade objectively, no matter whether we have won or lost a lot already ?
  • #4,185
  • Feb 22, 2011 5:36am Feb 22, 2011 5:36am
Quoting micmic
I'm going to dig a little deeper in the philosophical vein of the last days This time it's about stopping when you achieve your target or after 1-2 losses. Surely this must be something that an experienced trader must strive to overcome ? I mean, isn't our goal to function almost automatically when we see a trade setup ? A lot of practice will make us recognize which trades we must take and which to avoid. Fear and greed can certainly affect our judgement, but until when ? Can't we ever reach a stage where we will be able to see a trade objectively,...
The problem is you are attached to the money you are trading and you want more of it, you have to get to the place where you literally you don't care about wins or losses. This is not say go out and become reckless or take dumb trades. With that said I still take a dumb trade at least once a week, but it does not bother me and I don't beat myself up over it. Until you get to this point you are going to struggle, setting arbitrary rules like quiting after x losses may help in the short term but the time you quit and then see a 100 pip run up on an a+ setup you will more than likely be back to your old ways.
  • #4,186
  • Feb 22, 2011 5:41am Feb 22, 2011 5:41am
Quoting micmic
I'm going to dig a little deeper in the philosophical vein of the last days This time it's about stopping when you achieve your target or after 1-2 losses. Surely this must be something that an experienced trader must strive to overcome ? I mean, isn't our goal to function almost automatically when we see a trade setup ? A lot of practice will make us recognize which trades we must take and which to avoid. Fear and greed can certainly affect our judgement, but until when ? Can't we ever reach a stage where we will be able to see a trade objectively,...
Fear and greed are emotions. Emotions are what drive human beings, not rational or logical thought.

So, unless you are planning to somehow become a Vulcan..... hang on, "Trader Spock" does has a nice ring to it!
  • #4,187
  • Feb 22, 2011 5:49am Feb 22, 2011 5:49am
Quoting AndreyBecker
hi, guys!

I´m new in this thread. i took this trade in eur/usd m15. Ist that okay? Sry for my bad englisch
Not bad a bad trade at all, though it doesn't quite touch the MA, the top of the doji is right on the S3 pivot and as you can see this has been very well respected by the price.

That is of course as long as you took profit and got off the launch pad before the next bar where it joined the Eurospace program and went "10..9..8..7..6..5..4..3..2..1..Lift off!"
  • #4,188
  • Feb 22, 2011 6:08am Feb 22, 2011 6:08am
Quoting bigtent
Not bad a bad trade at all, though it doesn't quite touch the MA, the top of the doji is right on the S3 pivot and as you can see this has been very well respected by the price.

That is of course as long as you took profit and got off the launch pad before the next bar where it joined the Eurospace program and went "10..9..8..7..6..5..4..3..2..1..Lift off!"
thanks, i could take 12 pips from this trade
  • #4,189
  • Feb 22, 2011 7:14am Feb 22, 2011 7:14am
In Bloomberg Currency News they still haven't caught up with the Dollar fall: "Dollar, Yen advance on Middle East Violence". They are probably thinking how they can justify the reversal. I often go to Bloomberg after such big moves, just for the laughs. They will always explain somehow the FIRST move. After that, they are often lost for words. It's very common that they will leave even bigger moves totally uncommented.

Justifying currency behavior with fundamentals is a dirty job, but someone's got to do it.
  • #4,190
  • Feb 22, 2011 7:17am Feb 22, 2011 7:17am
Quoting micmic
In Bloomberg Currency News they still haven't caught up with the Dollar fall: "Dollar, Yen advance on Middle East Violence". They are probably thinking how they can justify the reversal. I often go to Bloomberg after such big moves, just for the laughs. They will always explain somehow the FIRST move. After that, they are often lost for words. It's very common that they will leave even bigger moves totally uncommented.

Justifying currency behavior with fundamentals is a dirty job, but someone's got to do it.
You spelled funny-mentals wrong!
  • #4,191
  • Edited 7:51am Feb 22, 2011 7:28am | Edited 7:51am
M15 10, H1 35, 200 SMA, S1, RN......Well it would have been nice!

I was poised for this and had already taken the screenshot to post it, so I thought I'd plonk it up anyway.

Now it's going to cruise off and drag the 10 EMA another 12 pips higher to make one of those great backtest trades.... "There's a great entry!"

Attached Image (click to enlarge)
Click to Enlarge Name: Would have been nice.jpg Size: 94 KB


Hmm didn't come back far enough again!

Maybe the EU has changed its sexual preference and doesn't want to touch 10 EMAs anymore!
  • #4,192
  • Feb 22, 2011 8:08am Feb 22, 2011 8:08am
after my long vacation and being off the markets for a couple of months its good to see u making progress in trading dance! some maybe trouble, but others are quite successful, or it seems to be

for me i tend more and more to trade setups from failed dance-trades.
an example below is the EU today, when it moved strong through 35 and 50.
the reason behind is that i can see these pattern the most clear and the profits are fast and hudge due to the stops being triggered.
Attached Image (click to enlarge)
Click to Enlarge Name: Bildschirmfoto 2011-02-22 um 15.04.34.png Size: 43 KB
trading is like dancing, don't think and just listen to the music!
  • #4,193
  • Feb 22, 2011 8:14am Feb 22, 2011 8:14am
Quoting birdland
after my long vacation and being off the markets for a couple of months its good to see u making progress in trading dance! some maybe trouble, but others are quite successful, or it seems to be

for me i tend more and more to trade setups from failed dance-trades.
an example below is the EU today, when it moved strong through 35 and 50.
the reason behind is that i can see these pattern the most clear and the profits are fast and hudge due to the stops being triggered.
Welcome bro. Hope you enjoyed your vacation. Great to see you back

Missed your trades sorely. Now i have one more dancer to look upto.Today was frustrating for me. I didnt find any dance trade
Making money is easy- Just dont take losing trades
  • #4,194
  • Feb 22, 2011 8:17am Feb 22, 2011 8:17am
Quoting Survivor
Welcome bro. Hope you enjoyed your vacation. Great to see you back

Missed your trades sorely. Now i have one more dancer to look upto.Today was frustrating for me. I didnt find any dance trade
yes, its tough sometimes. thats why we are here to listen to each other (or learn from each).

but you are good in constrainments-stay with them only!

u only need one pattern to...
trading is like dancing, don't think and just listen to the music!
  • #4,195
  • Feb 22, 2011 8:17am Feb 22, 2011 8:17am
Quoting birdland
after my long vacation and being off the markets for a couple of months its good to see u making progress in trading dance! some maybe trouble, but others are quite successful, or it seems to be

for me i tend more and more to trade setups from failed dance-trades.
an example below is the EU today, when it moved strong through 35 and 50.
the reason behind is that i can see these pattern the most clear and the profits are fast and hudge due to the stops being triggered.
I really think its bad idea to post it but here is how my chart looks for the area that you said as buy zone. NOT dance Pleae ignore if you don't like. But i WAS looking for a dance buy but didnt even get a scooped up here.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 103 KB
Making money is easy- Just dont take losing trades
  • #4,196
  • Feb 22, 2011 8:22am Feb 22, 2011 8:22am
Quoting bigtent
You spelled funny-mentals wrong!

Hehe. Now they've changed it: "Swiss Franc advances on Middle East Violence" Funny guys over there at Bloomberg. Excellent comedians.

ETA: They still haven't changed this though: "The euro may weaken to a five-month low against the dollar after dropping below key technical levels today, Ueda Harlow Ltd. said, citing trading patterns"
  • #4,197
  • Feb 22, 2011 8:28am Feb 22, 2011 8:28am
Quoting Survivor
Welcome bro. Hope you enjoyed your vacation. Great to see you back

Missed your trades sorely. Now i have one more dancer to look upto.Today was frustrating for me. I didnt find any dance trade
I've had a couple lost one, then two I got out +1 one I waited too long, the other I moved the stop too soon. My usual problem...... which is me!.

Got a non-dance winner (small M1 PA entry on the EU run up) to put me up a few pips (7) for the day.

Just took a quick break as I thought the EU was clearing out, and saw it'd finally come back for a 10 touch that I'd been waiting for about two hours..... nose in front, but it has been a bit frustrating.

Actually interested in Birdland's entry as I have been looking at that myself.
  • #4,198
  • Feb 22, 2011 8:30am Feb 22, 2011 8:30am
Quoting micmic
In Bloomberg Currency News they still haven't caught up with the Dollar fall: "Dollar, Yen advance on Middle East Violence". They are probably thinking how they can justify the reversal. I often go to Bloomberg after such big moves, just for the laughs. They will always explain somehow the FIRST move. After that, they are often lost for words. It's very common that they will leave even bigger moves totally uncommented.

Justifying currency behavior with fundamentals is a dirty job, but someone's got to do it.

Has anyone read "fooled by randomness"? I highly recommend it to any trader. one of the chapters talks about how price movements create news and not the other way round.

As an insider, I have seen it happening sooooo many time in my life. When a bloomberg beauty asks a trader why euro went up do you expect him to say " i have no idea"?? He is forced to make up stories which you read in bloomberg (or any other news channel). the poor chap has to say something - Russian buying, greece concerns easing- anything. The funny part is that he might have held his short and lost a 150 pips
Making money is easy- Just dont take losing trades
  • #4,199
  • Feb 22, 2011 8:34am Feb 22, 2011 8:34am
Quoting birdland
after my long vacation and being off the markets for a couple of months its good to see u making progress in trading dance! some maybe trouble, but others are quite successful, or it seems to be

for me i tend more and more to trade setups from failed dance-trades.
an example below is the EU today, when it moved strong through 35 and 50.
the reason behind is that i can see these pattern the most clear and the profits are fast and hudge due to the stops being triggered.
I was thinking about this earlier. My thoughts were where price and the 10 EMA converge with the 35, or maybe it's just where you are pointing out, if the 10 has crossed the 35.

It may be something to work out, just when is the 50 likely to fail and price reverse, because, as you say, it often means a big run after the reversal.

Every Dancer needs to learn a few new steps now and then!
  • #4,200
  • Feb 22, 2011 8:36am Feb 22, 2011 8:36am
Quoting micmic
Hehe. Now they've changed it: "Swiss Franc advances on Middle East Violence" Funny guys over there at Bloomberg. Excellent comedians.

ETA: They still haven't changed this though: "The euro may weaken to a five-month low against the dollar after dropping below key technical levels today, Ueda Harlow Ltd. said, citing trading patterns"
Yes I saw one that said it had "lost several key support levels", and said to myself, "But then it went back and found them again".
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