CHOROS System

Will probably go to 1% after 100K.

Thanks Andrey. Keep disciplined and focused, the rest is fighting with your personal goblins....

We started the day with everything looking up. All higher time frames agree.
Since I haven't been getting any good opportunities recently by getting up for NY open, I decided to get up just after London open this day, with no difference in result. I don't think there was a really good dance trade all night (but I could be wrong).

1) 10 Touch or 35/50 Bounce trades. I've got two arrows here. I passed both trades because I didn't think there was enough direction. First we have a retest on a possible long. This agreed with the higher time frames, but the MAs were just way too flat for my liking. And that trade failed. Then we get the retest after the cross, this time for a short trade. I liked the look of this one better, but passed on it because it was against the higher time frames. I figured if it did go short on a big move, I would get in on a 10 Touch later. (Ha!)

Of course, the first trade was a loser, but someone really quick might break even. The second trade, on the other hand was a big winner. And here's the kicker. It's likely that a big move is going to come. If I had taken both trades, I would have gotten stopped on one, but more than made up for it with the second. Keeping the stops tight enough, this is a relatively safe play. But since I was just thinking that each trade didn't look perfect, I passed a really good opportunity. I'm not sure how I would play this in the future, but it seems to me that the right play is to take both trades (or even three in a row). Second trade was good for 50-100+ pips.

2) H1 62 Bounce. I didn't take this one either, mostly because it's not really a dance trade. After the news, price shot through the H1 62 in a heartbeat. It's in confluence with the Daily S1. Twice this level gets retested. This provides a dance-like excuse to jump in on what might be a continuing downtrend. Frankly I don't know if this counts as a good Dance trade or not, so I didn't take it. I'd be interested in hearing other''s opinions.

3) 10 Touch. Finally, after the huge move, we get a 10 Touch. It's on a three bar retrace. Also, the price bounce happened almost at the H4 50. I don't know if I would have taken this trade or not. It's a loser.

4) 35 Bounce. 35 is steep but really diverging from the 50. Decent confluence with a Round Number. The time of day is wrong for trading. Probably a no trade. Good for a slow 20 pips.

hey guys,

i have still problems with my exits. do you use clay´s exit strategy with the extrem of the last bar?? Or do you use a firm TP for example at a RN?

Cheers
Andrey

Although I am not considered as an experienced dance trader I think it depends at the price action. For example, IMO if there is not an area of interest (support/resistance, RN etc) close to your TP, it is better to use the extreme of the last bar as you mention. Otherwise, it is better to exit at the support/resistance etc...At least this is the criteria I use to exit my trades.

My current position on GBP/USD.

1H 10EMA touch which can also be seen as constrainment.

I am +18 and still going...



In terms of exit and in order to give some feedback to AndreyBecker, as we can see the area of interest here is the RN 1.6200. If the price starts to hesitate too much at that level, I will pull the trigger and exit.

Edit: The RN level was passed so I decided to exit at the daily S1 which was at 1.6176. +35 pips!!! The price kept going down but I always leave some pips on the table

a perfect touch of the 35/50 eur/usd or i´m wrong?

what would be the SL on this trade? on the 15 min it would be 15-19 pips but on the h1?

thanks for your feedback! is it your first trade today? i´ve seen more today.. for exampe a touch of 10 on gbp/usd.. is it right? (i took this trade with 11 sl.. sl was hit)

I have taken the EUR/USD 35SMA touch! I am currently +3 and hope to go more south. Nice observation mate!It is confluence of the 35 and the Daily PP 1.4130 so it is more likely to be a winner but we need to be carefull because M15 seems to go north so... small SL.

Now for the touch of 10 on gbp/usd, IMO you should wait for the price to touch the 10EMA of H1. This would be a very strong confirmation otherwise you should have put bigger SL which should be above the H1 10EMA.

thanks again. what is your sl on the eur/usd trade? on the daily chart it looks like to react of the 10

SL at 1.4138. If we are lucky, we will go for small profit on this. Anyway, we always need losing trades since they make us better and help us stay disciplined.

gbp/usd m15 touch of the 10

is it a constrainment?

it seems to be a good trade =)

a nice touch of 35/50/RN in confluence with 10 on h1

stopped out =(

+7.29% to initial capital today with choros system

2% risk per trade


not bad

which entries did you take?

Hi, i think G/U is long ,becouse D1 chart trend is up , but not this moment patience!!!

must h1 and daily both agree with m15? or do you mean the 35 of the daily?