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CHOROS System

  • #4,621
  • Edited 9:07am Mar 30, 2011 8:32am | Edited 9:07am
Guys...just have a look at this...

If I remember properly, from what Clay says about constrainments...A constrainment is when 3 or 4 small bars respect a moving average or a S/R level. So, what do you think will follow at the chart below? I entered at 1.4086.

Attached Image (click to enlarge)
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Edit: I stopped at +20! I am pretty sure that price will continue to fall but since I hit my TP I don't care about it.
You are allowed to fall but you are imposed to get up!
  • #4,622
  • Mar 30, 2011 8:39am Mar 30, 2011 8:39am
Quoting wskeal
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
One man's noise is another man's pips. If you learn this method you can make decent gains from it.
Mark ... Everything you have been told is a LIE
  • #4,623
  • Edited 9:15am Mar 30, 2011 9:01am | Edited 9:15am
Quoting wskeal
ok and lets add weekly and monthly and yearly charts and trade bounces with 12pip stoploss lol =)
My stop was 11 pips (just above the highest tail). My expectation of a profit was high; that's why I entered the trade. I never use stops bigger than 15, sometimes only 8 or 9. That's part of what this method is about.
  • #4,624
  • Mar 30, 2011 12:24pm Mar 30, 2011 12:24pm
Quoting wskeal
hey guys, do you use pinbar (and others) patterns to trade or just trade MA touch only?

which trades more profitable, touch or patterns?
If you combine pin bars and other patterns it makes this method even that much better.
Mark ... Everything you have been told is a LIE
  • #4,625
  • Mar 30, 2011 1:32pm Mar 30, 2011 1:32pm
Quoting wskeal
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
It's possible you are right, but there is no way to know unless you test it. There are also a great many people who firmly believe that its impossible to get the results that Kostas has gotten, day in and day out, for the last 10 months. They KNOW that 2.5% per day is unachievable, and the mere fact that someone is doing is will not shake their knowledge. Sometimes people needlessly bind themselves by their own convictions about what is and is not possible. if you want to show that a 12 or 15 pip stop loss can't work with the Dance on higher time frames, then do some tests and show the results.

Also, I've never been convinced by the signal/noise distinction people make between charts on higher and lower time frames. If there were an obvious distinction between those kinds of charts, then someone familiar with the behavior should be able to tell what time frame he was looking at simply by looking at the bars on the chart.

As an experiment, I'm attaching three charts. They have the 10 EMA (green), the 35 SMA (yellow), and the 50 EMA (red), with the 100 in Black and 200 in White. The first question is whether any of these look more noisy that the others? Second question is: Rank the charts in order of how well you think they Dance. (Extra credit to anyone who gets the time frames right for the charts, and counting gaps is cheating.)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Chart 3.jpg Size: 80 KB
  • #4,626
  • Edited 1:54pm Mar 30, 2011 1:51pm | Edited 1:54pm
WOW! Look at this baby! should have trailed it but my day job didn't allow me... I only spend no more than 20 mins to forex per day but still good enteries using my alerts at night.

Did anyone else catch it?
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  • #4,627
  • Mar 30, 2011 2:33pm Mar 30, 2011 2:33pm
Quoting cyberevil
WOW! Look at this baby! should have trailed it but my day job didn't allow me... I only spend no more than 20 mins to forex per day but still good enteries using my alerts at night.

Did anyone else catch it?

Nice job cyberevil.
How did you get those little higher TF charts on your main chart?
  • #4,628
  • Mar 30, 2011 3:31pm Mar 30, 2011 3:31pm
Quoting kostas1
Nice job cyberevil.
How did you get those little higher TF charts on your main chart?
I think they are Stratman's mini-charts from the THV thread.... I tried them in the simulator (but they only show the REAL current price )

http://www.pipware.com/software/mini-charts.html
  • #4,629
  • Mar 31, 2011 1:13am Mar 31, 2011 1:13am
Quoting bigtent
I think they are Stratman's mini-charts from the THV thread.... I tried them in the simulator (but they only show the REAL current price )

http://www.pipware.com/software/mini-charts.html
Thanks bigtent,
I will test them to see if they are helpful in simplifying my charts. I now feel comfortable trading both GU and EU but working with one monitor, I have to keep switching back and forth between the two currencies. If there was a way to have everything in front of me it would make life easier (for example just two charts M15 EU and M15 GU with the mini-charts of the higher TFs in them?). Anyway, I will let you know if I see something I like.
  • #4,630
  • Mar 31, 2011 1:50am Mar 31, 2011 1:50am
Quoting kostas1
Thanks bigtent,
I will test them to see if they are helpful in simplifying my charts. I now feel comfortable trading both GU and EU but working with one monitor, I have to keep switching back and forth between the two currencies. If there was a way to have everything in front of me it would make life easier (for example just two charts M15 EU and M15 GU with the mini-charts of the higher TFs in them?). Anyway, I will let you know if I see something I like.
One problem is that I think they only allow one MA on each chart, where I'd want the three, but if they did that, they'd be great for H1, H4 and D1.

I still need M1 and M5 in separate windows as I have the pivots, RN, and MTF MAs on them. At the moment, I switch these occasionally to peek at the HTFs.
  • #4,631
  • Mar 31, 2011 6:24am Mar 31, 2011 6:24am
hey guys what do you think about gbp/usd? on h1 it looks like a bounce of 35/50, but on the daily chart we can see, that we have a resistance in the near of 10 and 50? do you think we maybe could take this trade if PA on the m15 is okay?

cheers

Andrey
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  • #4,632
  • Mar 31, 2011 6:27am Mar 31, 2011 6:27am
Hi All,

1. Price passed RN 1.61 and all MA's
2. Price was then being rejected by RN 1.61
3. Sold near RN (1.60966)
4. TP 15 pips.

Only concern was the MA 50 on the 4 HR

Possible bounce coming up on 1H chart.
Confluence of Monthly S1, 35/50 MA 1Hr chart, 10MA 4Hr chart
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  • #4,633
  • Mar 31, 2011 7:01am Mar 31, 2011 7:01am
Quoting duffypratt
It's possible you are right, but there is no way to know unless you test it. There are also a great many people who firmly believe that its impossible to get the results that Kostas has gotten, day in and day out, for the last 10 months.
I want to express my warm thanks from all of us to duffypratt for his tedious and excellent work in summarizing the thread. I have added in the first post his Table of Contents as a Word file (also attached in this post).
If some of you want to add/substract or update the file in the future as the thread grows, you can send it to me so that I can put it in the first post.
Duffy you rock my friend!
Attached File(s)
File Type: doc DanceTOC.doc   239 KB | 599 downloads
  • #4,634
  • Mar 31, 2011 7:12am Mar 31, 2011 7:12am
i want to follow kostas and thank duffypratt for his great work!
  • #4,635
  • Mar 31, 2011 7:18am Mar 31, 2011 7:18am
Quoting kostas1
I want to express my warm thanks from all of us to duffypratt for his tedious and excellent work in summarizing the thread. I have added in the first post his Table of Contents as a Word file (also attached in this post).
If some of you want to add/substract or update the file in the future as the thread grows, you can send it to me so that I can put it in the first post.
Duffy you rock my friend!
That is quite impressive. A lot of work was put into that. Take a bow duffypratt, you deserve many accolades for your work.
Mark ... Everything you have been told is a LIE
  • #4,636
  • Mar 31, 2011 7:24am Mar 31, 2011 7:24am
Wow! I have been reading through both threads and learning for + 2 weeks. This tool is the best support myself and everyone else would have hoped for!! Awesome work my friend!!! Thank You Kindly, t
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #4,637
  • Mar 31, 2011 8:30am Mar 31, 2011 8:30am
Thanx a lot duffy!!! Very nice and helpfull job. You have my respect...
You are allowed to fall but you are imposed to get up!
  • #4,638
  • Mar 31, 2011 11:08am Mar 31, 2011 11:08am
  • #4,639
  • Mar 31, 2011 11:10am Mar 31, 2011 11:10am
Quoting kostas1
I want to express my warm thanks from all of us to duffypratt for his tedious and excellent work in summarizing the thread. I have added in the first post his Table of Contents as a Word file (also attached in this post).
If some of you want to add/substract or update the file in the future as the thread grows, you can send it to me so that I can put it in the first post.
Duffy you rock my friend!
A BIG THANK YOU,

The amount of info in there is so much greater than in any book I've read so far.
  • #4,640
  • Mar 31, 2011 4:15pm Mar 31, 2011 4:15pm
I really appreciate all the thanks. Look over the Table of Contents and you will see that the real thanks should go to the amazing contributors to this thread over the last 10 months. Well over 99% of the value in it comes from the high quality of the postings, and only a tiny, tiny portion comes from any organizational effort of mine. Reviewing the entire thread from the start was a re-education, and I hope that it will re-energize my trading.

Please, take Kostas at his word. The ToC is a work in progress. It could use some paring down. I've probably missed posts that should be included. I've probably put some posts in the wrong category (and I may have been entirely blind to some categories that deserve inclusion). Also, I think that there could be some improvement in organization. So, any suggestions would be most welcome.
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