Attachments: CHOROS System

CHOROS System

#4,641
Mar 31, 2011 4:58pm Mar 31, 2011 4:58pm

makonen
| Joined Aug 2010 | Status: Trader | 204 Posts

thank you Duffypratt!

#4,642
Mar 31, 2011 6:34pm Mar 31, 2011 6:34pm

kk007
Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts

Quoting duffypratt

Disliked

I really appreciate all the thanks....

Ignored

Thx, attached the htm version for easier usage.
(Rename the .xls attachment to .htm and you can open it in the browser)

Attached File(s)

DanceTOC.xls 141 KB | 507 downloads

#4,643
Apr 1, 2011 3:06am Apr 1, 2011 3:06am

lunaturtle
| Joined Mar 2011 | Status: Trader | 7 Posts

awesome job duffypratt!!!
thank you so much for your hard work in putting that together...
i am sure many dance traders will benefit from that..

good trading to you

#4,644
Apr 1, 2011 7:15am Apr 1, 2011 7:15am

iero4
Joined Jan 2011 | Status: Trader | 950 Posts

I would like to share with everybody and especially the newbies like me my current psycology.

I started dealing with FOREX 6 months ago. I didn't have any strategy, risk management or proper psycology. I only had 300 USD to lose and so I did

After 2-3 months I discovered the Dance manual. I started reading and reading until I undertood the basics of it. I am currently trading live using the dance rules and with what is left from my account which lets me use very small lot sizes. The results are 60% wins-40% loses. Before the dance they were 10% wins - 90% loses

. Few days ago I finished reading the "Trading in the zone" book. I can say that it changed completely the way I am thinking about FOREX. If there is anyone who hasn't read that book yet, DO read it immediately.

At the moment, I am still a bit confused about the Dance rules because I have noticed that the Dance manual has been revised for M15 and M1 charts. Also, I see a lot of people here using more MAs than what Clay says in his manual.

But whatever it takes and even if it take me 1 year of reading, I WILL manage to become consistent and succesfull. And I think all newbies should think this way. Don't stop trying if you really like trading.

Regards
Iero

You are allowed to fall but you are imposed to get up!

#4,645
Apr 1, 2011 7:46am Apr 1, 2011 7:46am

iero4
Joined Jan 2011 | Status: Trader | 950 Posts

Here is my trade for today. 35/50 stuck toghether. M15 touch of 35/50 in confluence with H1 10 touch. Entered at 1.4160 exit at 1.4120. +40 !!!

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Although my plan was to exit close to the next RN which was 1.4100, I stopped it earlier because I was afraid of being rejected.

You are allowed to fall but you are imposed to get up!

#4,646
Apr 1, 2011 7:55am Apr 1, 2011 7:55am

Survivor
Joined Oct 2010 | Status: Dr. Constrainment | 619 Posts

Quoting kk007

Disliked

Thx, attached the htm version for easier usage.
(Rename the .xls attachment to .htm and you can open it in the browser)

Ignored

Some great work here while i am away. Thanks duffy mate and kk. Now i wont feel guilty about posting too much

Hope everyone is dancing nice.

Making money is easy- Just dont take losing trades

#4,647
Apr 1, 2011 8:11am Apr 1, 2011 8:11am

Survivor
Joined Oct 2010 | Status: Dr. Constrainment | 619 Posts

Quoting iero4

Disliked

At the moment, I am still a bit confused about the Dance rules because I have noticed that the Dance manual has been revised for M15 and M1 charts. Also, I see a lot of people here using more MAs than what Clay says in his manual.

Ignored

Everyone here is following latest 15M manual and i dont think anyone is playing with 1M yet. I would suggest even you start with 15M because that's what clay advised IMHO.

Many use other MAs. I use 100H and 62H MA other than manual. Everyone has his own tastes and i dont think this should distract you. Also note that i use many mas because they give me HTF equivalents. For example i use 40 EMA in 15 m because it gives me approximate location of 10 EMA in 1H even when i am looking at 15 M chart.I would suggest sticking to original mas initially and add as you become comfortable.

Making money is easy- Just dont take losing trades

#4,648
Apr 1, 2011 8:56am Apr 1, 2011 8:56am

spzd
Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts

Quoting iero4

Disliked

I would like to share with everybody and especially the newbies like me my current psycology.

I started dealing with FOREX 6 months ago. I didn't have any strategy, risk management or proper psycology. I only had 300 USD to lose and so I did

After 2-3 months I discovered the Dance manual. I started reading and reading until I undertood the basics of it. I am currently trading live using the dance rules and with what is left from my account which lets me use very small lot sizes. The results are 60% wins-40% loses. Before the dance...

Ignored

I'm glad you are learning this method as it works very well.

As far as using the M1 I think some use it to fine tune their entries which you may or may not do as you get better with the Dance.

The additional MAs are also something people use as they progress. I have added the 21ema to mine as I have found for me that it adds an extra spot to look for opportunities. Also a lot of people have the higher time frame MAs (such as the 140sma = H1 35 or the 200ema = H1 50) on there M15 charts so they can see an approximation of these on just one chart.

Keep up the good work and remember this is a method (NOT a set in stone system) that you can adapt and adjust as you improve.

Mark ... Everything you have been told is a LIE

#4,649
Apr 1, 2011 9:12am Apr 1, 2011 9:12am

iero4
Joined Jan 2011 | Status: Trader | 950 Posts

Thank you guys for making it clear to me about the use of other MAs. I am trying hard to learn this method and I am pretty sure I'll make it

Have a good weekend
Iero

You are allowed to fall but you are imposed to get up!

#4,650
Edited 10:26am Apr 1, 2011 10:12am | Edited 10:26am

kk007
Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts

#4,651
Apr 1, 2011 10:16am Apr 1, 2011 10:16am

kk007
Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts

Perhaps, the post above is easier for browsing, if no one mind putting the links here.

#4,652
Apr 1, 2011 10:50pm Apr 1, 2011 10:50pm

AlienFrog
| Joined Nov 2010 | Status: Amphibian Member | 444 Posts

I found this thread two days ago and I can't leave my computer! I read Clay's first post and knew immediately that he's a teacher/trainer. I read the first manual, then the updated versions. He lays out how trading REALLY works in a practical way.

Then I jump to the last page of the thread to see what's current - and I see kk007's post with all these links! You guys are incredible!

Thanks to Clay, Kostas, kk007, and all those I haven't even discovered yet who are working in this thread. I'm all in!

Luck occurs when preparation meets with opportunity.

#4,653
Apr 1, 2011 10:52pm Apr 1, 2011 10:52pm

AlienFrog
| Joined Nov 2010 | Status: Amphibian Member | 444 Posts

And I just noticed these links were put together by duffypratt and copied by kk007 - Thanks duffy!!!

Luck occurs when preparation meets with opportunity.

#4,654
Apr 2, 2011 5:56pm Apr 2, 2011 5:56pm

fxbloo
| Joined Oct 2009 | Status: Trader | 5 Posts

At first sorry for my english:
I trade with the dance charts, but with my own rules.My enties work for me 75% win 25% loose. It depend on your own skills, it can be better
too. I trade on 1M chart since years. I show you how it works. I watch the M1 M5 M15 chart (GBP/EUR) And of course the trend on the higher
timeframes.
Very important: on the M1 timeframe 1 have two more MA's:
135 ema
525 sma
These are the 10 ema and 35 sma on the 15 chart.

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#4,655
Apr 2, 2011 5:59pm Apr 2, 2011 5:59pm

fxbloo
| Joined Oct 2009 | Status: Trader | 5 Posts

I trade not the touch of the ma's, but my setups are in this areas. The price touch the 10/35 ma and when goes below/abow the 35 sma (1M) I

Waiting for a pin bar or hammer or a constaitment. And then take the trade. Stop 5pips+spread, after 4-5 pips i close half of them, and i

trail my stop, at the peeks and valleys. My target is often RN and pivots. I take the trades only when the price is enought far from RN's,

for good profits.

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#4,656
Apr 2, 2011 6:02pm Apr 2, 2011 6:02pm

fxbloo
| Joined Oct 2009 | Status: Trader | 5 Posts

I tested this setups month, and i trade on live account. It works, but you need to backtest it and learn the setups.
And it is very important to understand peeks and valleys!!!

#4,657
Apr 3, 2011 5:44am Apr 3, 2011 5:44am

Survivor
Joined Oct 2010 | Status: Dr. Constrainment | 619 Posts

Quoting fxbloo

Disliked

I trade not the touch of the ma's, but my setups are in this areas. The price touch the 10/35 ma and when goes below/abow the 35 sma (1M) I

Waiting for a pin bar or hammer or a constaitment. And then take the trade. Stop 5pips+spread, after 4-5 pips i close half of them, and i

trail my stop, at the peeks and valleys. My target is often RN and pivots. I take the trades only when the price is enought far from RN's,

for good profits.

Ignored

That sounds very promising to me because even i have been trying to avoid touch trades. Can you please explain your method in more detail? Also, what you mean by peaks and valleys?

Making money is easy- Just dont take losing trades

#4,658
Apr 3, 2011 10:54am Apr 3, 2011 10:54am

spzd
Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts

Quoting Survivor

Disliked

That sounds very promising to me because even i have been trying to avoid touch trades. Can you please explain your method in more detail? Also, what you mean by peaks and valleys?

Ignored

Peaks and valleys are the high and low points of swings. Here is an article by Pring about peaks and troughs (valleys).

Attached File(s)

Peaks_and_Troughs_Pring.pdf 181 KB | 560 downloads

Mark ... Everything you have been told is a LIE

#4,659
Apr 3, 2011 4:20pm Apr 3, 2011 4:20pm

fxbloo
| Joined Oct 2009 | Status: Trader | 5 Posts

How i trade:

In the morning (GMT+1) at 8-10 I wait for a break out. The price need to come back to the 15M Ma's. And then I watch, the peeks and valleys. I open trade only when the price is below/abow the 35 sma, it is very important!!! Do not open trade when the price break through the 35 sma, you need a good setup int this area!!!
Patience! Wait, wait, and wait!

There are days without setups! Wait, wait, and wait!!!

When you risk 1%, you close the half of your trade in 4 pip+ , and the second half in 10 pips, your risk was 1% and you win 1%.

75% winer 25% looser, and you are ok.

In half of your trades you can catch the first 4 pip, and the another half is breakeven. But with your another half you can get sometimes 25-30 pips. So, the average will be 1/1 R/R.

I hope it helps.

And sorry for my bad English.

#4,660
Apr 4, 2011 9:58am Apr 4, 2011 9:58am

natnimrey
| Joined Nov 2010 | Status: Trader | 217 Posts

Hmm it's quiet in here...I've been bugged by chores all day and am finally able to trade in peace. For some reason I'm having pathetic internet speed. Missed these:

USD/CHF Constrainment

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EU 35/50 touch. I know they're flat but first touch, their closeness and the huge wick through seems convincing enough.

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