CHOROS System | Page 231 | 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

  • #4,601
  • Mar 29, 2011 5:06am Mar 29, 2011 5:06am
Quoting tulis
This is my today trade TP 1.6050 becouse D1 ema 5 is there
i didnīt try to take this trade once again, because of the H1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmh1.gif Size: 30 KB
  • #4,602
  • Mar 29, 2011 5:11am Mar 29, 2011 5:11am
Quoting xsuchyx
Just kill your goblins and keep up the rules no matter what is happening
I would say that you have to listen to your Angel which is saying print your rules stick it into your monitor and respect this.
you have an excellent performance!! In March yoh made 145 %. It is much more if in January or February.. is it depends of the "The Dance?ī"?

Cheers

Andrey
  • #4,603
  • Mar 29, 2011 5:13am Mar 29, 2011 5:13am
Quoting AndreyBecker
i didnīt try to take this trade once again, because of the H1 chart.
is it the ping pong area about that clay said?
  • #4,604
  • Mar 29, 2011 6:35am Mar 29, 2011 6:35am
For a long trade do you like to necessarily see all MA's below current price (and vice versa for a short)? How much value do you put into a trade if the fast MA's are on one side, and slower MA's on the other side of current price? Also, do you like to see this on all TF's? I use 4HR, 1HR, and 15Min (switch to 5Min @ entry sometimes)
Thank You Kindly,
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #4,605
  • Mar 29, 2011 8:57am Mar 29, 2011 8:57am
This is my trade for today in G/U. I show that as a constrainment on H1 EMA 50 which was in confluence with Daily R1 and a RN so I entered short and....+40!!!

Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 204 KB
You are allowed to fall but you are imposed to get up!
  • #4,606
  • Mar 29, 2011 10:33am Mar 29, 2011 10:33am
i switched to 1:1 r:r in my trading, i tried SL = 3xTP but it works bad for me, too many loses and BE trades, so my drowdown is bad and i lose my confidence,
mr. greed is bad guy
  • #4,607
  • Mar 29, 2011 11:14am Mar 29, 2011 11:14am
hey guys, do you use pinbar (and others) patterns to trade or just trade MA touch only?

which trades more profitable, touch or patterns?
  • #4,608
  • Mar 29, 2011 11:18am Mar 29, 2011 11:18am
Quoting xsuchyx
Just kill your goblins and keep up the rules no matter what is happening
I would say that you have to listen to your Angel which is saying print your rules stick it into your monitor and respect this.
If I print my rules and stick it on my monitor, I won't be able to see the chart!
  • #4,609
  • Mar 29, 2011 11:27am Mar 29, 2011 11:27am
Quoting teemo
For a long trade do you like to necessarily see all MA's below current price (and vice versa for a short)? How much value do you put into a trade if the fast MA's are on one side, and slower MA's on the other side of current price? Also, do you like to see this on all TF's? I use 4HR, 1HR, and 15Min (switch to 5Min @ entry sometimes)
Thank You Kindly,
Basically, if price is above the 35/50 MAs, you should be long, if below, short. However, this is so for all time frames, and if they disagree, you will often see the price change directions as it hits the various MAs from each. Generally, HTFs win over the lower ones, but all in all the result is usually price pingponging between them, creating chop until it works its way free of the area where they conflict. THe EU is a case in point at the moment. Within a 20 pip range you have MAs from M15, H1, H4 and D1 all mixed up (Clay called this MA soup). If you look at the lower TFs (the MTF MAs are all there to see) you can see how the price is just bouncing around them and going nowhere, really.

Attached Image (click to enlarge)
Click to Enlarge Name: 110329-EU chop.jpg Size: 112 KB


If all TFs are in agreement, it is usually easier to trade.
  • #4,610
  • Mar 29, 2011 12:01pm Mar 29, 2011 12:01pm
Thank You Kindly Bigtent!!


Quoting bigtent
Basically, if price is above the 35/50 MAs, you should be long, if below, short. However, this is so for all time frames, and if they disagree, you will often see the price change directions as it hits the various MAs from each. Generally, HTFs win over the lower ones, but all in all the result is usually price pingponging between them, creating chop until it works its way free of the area where they conflict. THe EU is a case in point at the moment. Within a 20 pip range you have MAs from M15, H1, H4 and D1 all mixed up (Clay called this MA soup)....
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #4,611
  • Mar 29, 2011 1:30pm Mar 29, 2011 1:30pm
Quoting teemo
Thank You Kindly Bigtent!!
No worries, mate. One of the best things about the Dance is that you can read the market better than anything else I've seen.

Everyone hates choppy markets, and usually you only find out about it after it happens (and that usually costs a few losing trades).

With this, you can often see that it is likely to be choppy and stay out.

Some, like Kostas, have enough experience to actually manage to trade that successfully, scalping here and there.

Others. like me, sometimes think that they can trade it and get skittled!
  • #4,612
  • Mar 29, 2011 6:55pm Mar 29, 2011 6:55pm
Quoting kostas1
Here is a case where I was confident to leave the trade for longer profit.
Entered on the bounce from H4 35. The price had already crossed Weekly Pivot and Daily R1 and selling pressure was building. I waited for a rejection M15 bar to enter. The price started going up again but I gave it a SL above the RN (1.4150) for a SL of 16p.
Target was the M15 35/50 confluenced with H4 10 and RN. Finished the day with one trade (+34p)
I am now considering long (with half my normal lot size) at the above confluence and the M5 seems to agree.
Hello Kostas. I notice that the 4h 35 had a gentle downslope at the time of the trade. Does the slope of the 4h ma's have any bearing on whether you will take the trade?
  • #4,613
  • Mar 30, 2011 12:00am Mar 30, 2011 12:00am
G'day folks,

Something that I feel we should be aware of, and I'm not sure that all readers on this thread look at the larger TF's, so I thought I should post it.

Looking at the Daily, you can see that Cable is at a fairly critical level shown on the purple line. This area has been like a pivot level going back to 2009. (It's a big image, so you'll probably need to click and expand it)

Attached Image (click to enlarge)
Click to Enlarge Name: 110330-GU - critical D1.jpg Size: 101 KB


On the H4, it appears to be pushing hard on this level, with price highs lowering, forming a bearish pennant pattern and the H4 10 is constraining the price in that direction.

Attached Image (click to enlarge)
Click to Enlarge Name: 110330-GU - critical H4.jpg Size: 100 KB


So, not predicting anything, but it may just end up with a move downward and it is worth keeping you eye on it.

Comments welcome!
  • #4,614
  • Edited 12:44am Mar 30, 2011 12:26am | Edited 12:44am
Since I posted the GU, I thought that I may as well post the EU as well...

OK, not far above is the purple line, which was last November's high and we have to go back to January 2010 to see price above this line. Also if you look back further, you'll see that this line looks like one of those major pivotal SR levels, similar to the GU's purple line.

I also have a trendline which has held since January 10 this year, and what looks like a channel price has been in for the last week... this looks a bit like a bullish flag.

You'll also notice that price is currently running along the 10 EMA... Constraint forming and maybe agreeing with the other TA stuff???

Attached Image (click to enlarge)
Click to Enlarge Name: 110330-EU D1.jpg Size: 151 KB


Once again, comments welcome! (I'm just posting what I can see, I don't really know anything)

Amusing thing... The Funnymentalists are all over the shop trying to explain the EU's rise. With the Libya/Middle East events, Portugal refusing to play the game and Greece once again acting like grease and slipping down the ratings to BB-..... this thing should have fallen through our monitors and burnt a hole in my desk ages ago! Again proof that news and fundamentals do not drive the markets..... traders do, and it they discount the news.... this is the result.
  • #4,615
  • Mar 30, 2011 12:39am Mar 30, 2011 12:39am
Quoting Greenhill
Hello Kostas. I notice that the 4h 35 had a gentle downslope at the time of the trade. Does the slope of the 4h ma's have any bearing on whether you will take the trade?
Usually when I see the slope in the correct direction it gives me a little more confidence, but it is not a decisive factor.
  • #4,616
  • Mar 30, 2011 5:30am Mar 30, 2011 5:30am
As jim carrey would say, B-E-A-utiful...

Attached Image
  • #4,617
  • Mar 30, 2011 6:03am Mar 30, 2011 6:03am
Nice trade, Nat. Here's my only trade today (so far). I was waiting for the 4h 35/50 but it was stalling, so I considered it as a bounce off the daily 50. +19.

http://i51.tinypic.com/5a3xaa.png
  • #4,618
  • Mar 30, 2011 6:13am Mar 30, 2011 6:13am
And yes, some of you may be surprised by my chart above, because there is a 4 hour chart. Oanda finally has 4h and 8h charts. Hurray!!
  • #4,619
  • Mar 30, 2011 6:15am Mar 30, 2011 6:15am
Quoting Greenhill
Nice trade, Nat. Here's my only trade today (so far). I was waiting for the 4h 35/50 but it was stalling, so I considered it as a bounce off the daily 50. +19.
Likewise Green...but I've never traded as high as daily TFs, looks like I gotta start checking them out...
  • #4,620
  • Mar 30, 2011 8:09am Mar 30, 2011 8:09am
ok and lets add weekly and monthly and yearly charts and trade bounces with 12pip stoploss lol =)

i think that when price bounce from ma at high tf with 15pips i think its just noise and lucky
5 traders viewing now