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CHOROS System

  • #4,781
  • Apr 13, 2011 8:10pm Apr 13, 2011 8:10pm
Quoting AlienFrog
I found this thread about 3 weeks ago and I'm still reading many different parts. It will take some time to get to it all, then I'll want to read it over again to help it sink in. Then, probably again...

Iero4 I just read your post from April 1 http://www.forexfactory.com/showpost...postcount=4646...

Hey, glad to hear more than a couple of us are thinking the same as I!!
I have been studying forex for the past 7 months and still not profitable after taking a pretty big hit in the beginning. I have been reading the Dance for quite a while now and it feels really good to me! So much I could say but I will refrain from writing a book in my post. I hope soon when I become more consistent and learn the basic rules better to start posting some chart examples for myself and everyone to see visuals! I trade the GU and USD/CAD as Im Canadian eh! haha and I trade/practice for now between 08:00-11:00 EDT
My goal right now is that I am reading this entire post through, every post from the beginning of the OLD thread and this one that is current.
All posts are my personal opinion
  • #4,782
  • Apr 14, 2011 2:16am Apr 14, 2011 2:16am
this touch on the eur/usd m15 seems to be realy good, but i donīt took it, because of the strong resistance on the h4 (look at the chart)
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  • #4,783
  • Apr 14, 2011 2:24am Apr 14, 2011 2:24am
on the gbp/usd was a good touch of the 10, but iīve missed it =( two bars, a bullish signal on the m5 with a bounce of the 35 and beautiful momentum bar on h4. i hope you took it guys


EDIT: if i took it, my tp would be hit now and i would have my first 3% for the day =)
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  • #4,784
  • Apr 14, 2011 2:44am Apr 14, 2011 2:44am
Quoting AndreyBecker
on the gbp/usd was a good touch of the 10, but iīve missed it =( two bars, a bullish signal on the m5 with a bounce of the 35 and beautiful momentum bar on h4. i hope you took it guys


EDIT: if i took it, my tp would be hit now and i would have my first 3% for the day =)
I took it a couple of pips above the 10 on m15 when the price jumped up after touching the line. I was thinking of waiting until 35/50 on m5 but itchy fingers I have. anyway, got out at +15. will be waiting for another trade. a good beginning for the day...

good luck to all...
  • #4,785
  • Apr 14, 2011 3:20am Apr 14, 2011 3:20am
Quoting Rtm
Hey, glad to hear more than a couple of us are thinking the same as I!!
I have been studying forex for the past 7 months and still not profitable after taking a pretty big hit in the beginning. I have been reading the Dance for quite a while now and it feels really good to me! So much I could say but I will refrain from writing a book in my post. I hope soon when I become more consistent and learn the basic rules better to start posting some chart examples for myself and everyone to see visuals! I trade the GU and USD/CAD as Im Canadian eh! haha...
Welcome to the thread, fellow Canadian, and much success to you!
  • #4,786
  • Apr 14, 2011 3:53am Apr 14, 2011 3:53am
I just came back to my computer and saw the missed opportunity on m5. if entered on the touch of 50MA it would be good for another 15 pips at least. unfortunately I was away...
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  • #4,787
  • Edited 5:09am Apr 14, 2011 4:49am | Edited 5:09am
did anyone get into this 35/50 touch trade?

edit: I got stopped out at -15 I should have closed the trade when I saw the sudden drops while in profit. anyway, I'm break even for the day again...

by the way, can anyone comment on why it failed?
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  • #4,788
  • Apr 14, 2011 5:20am Apr 14, 2011 5:20am
Quoting isengoz
did anyone get into this 35/50 touch trade?

edit: I got stopped out at -15 I should have closed the trade when I saw the sudden drops while in profit. anyway, I'm break even for the day again...

by the way, can anyone comment on why it failed?
i didnīt took this trade.. iīm not an expert, but i think it wasnīt a good setup.. look at the PA before the price touched the 35/50.. it was sideways and the price didnīt make new highs, after that we see a long momentum bar to the bottom.. it werenīt good signals for a good touch trade... and the MAīs were diverging a little bit too.. sry for my english. i hope you understand this =)

cheers
Andrey
  • #4,789
  • Apr 14, 2011 5:22am Apr 14, 2011 5:22am
Quoting isengoz
I just came back to my computer and saw the missed opportunity on m5. if entered on the touch of 50MA it would be good for another 15 pips at least. unfortunately I was away...
this trade i didnīt take too, but you got pips and this is important... the same thing here: price went sideways, it didnīt make new highs and it was the second 10 touch, so it is a little bit dangerous. =) if iīm wrong please correct me =)
  • #4,790
  • Apr 14, 2011 5:38am Apr 14, 2011 5:38am
Quoting AndreyBecker
i didnīt took this trade.. iīm not an expert, but i think it wasnīt a good setup.. look at the PA before the price touched the 35/50.. it was sideways and the price didnīt make new highs, after that we see a long momentum bar to the bottom.. it werenīt good signals for a good touch trade... and the MAīs were diverging a little bit too.. sry for my english. i hope you understand this =)

cheers
Andrey
thank you andrey, very well understood. I think you are right about the PA and momentum of the bar that I traded. Also, I need to refine my entries that I enter into trade either early or too late. even in this trade, if I waited a couple of seconds and entered at the touch of 50, price jumped back about 13 pips or so according to my graphic. at least I could find some space to take my stop to BE.

about the missed opportunity post I sent, I think I would still take it as it was the first touch of 50 for m5, or wait 1-2 candles to see which way it would go. well, I think it's easy to speak after all...

good luck to all...
  • #4,791
  • Apr 14, 2011 5:50am Apr 14, 2011 5:50am
by the way, this might be a little bit off the topic. but when I looked at the chart again, I realized that the price did a "triple top" movement which NiceGuy mentions in his thread, "ridiculous 7 pips". this pattern leads to great downward or upward (for triple bottom) movement. I couldn't see that on time.
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  • #4,792
  • Apr 14, 2011 6:00am Apr 14, 2011 6:00am
I'm watching for EU to come up to touch the 10. Price just blew through 35/50 on H1.Daily also has a nice touch of 10 but may be at the end of a long run. But H4 (not shown) has a nice bullish touch of the 50 which is contradictory so I'm not sure. Also contradicting is that a short would be trading into the RN at 1.4400. Anyone looking to take this trade if it touches 10 on M15?
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Luck occurs when preparation meets with opportunity.
  • #4,793
  • Apr 14, 2011 6:19am Apr 14, 2011 6:19am
Quoting AlienFrog
I'm watching for EU to come up to touch the 10. Price just blew through 35/50 on H1.Daily also has a nice touch of 10 but may be at the end of a long run. But H4 (not shown) has a nice bullish touch of the 50 which is contradictory so I'm not sure. Also contradicting is that a short would be trading into the RN at 1.4400. Anyone looking to take this trade if it touches 10 on M15?
i wouldnīt take this trade because of the touch on h4.. itīs a very clean touch, so it would be to dangerous for me =) itīs just my opinion
  • #4,794
  • Apr 14, 2011 6:26am Apr 14, 2011 6:26am
I found and decided to dig deep in this system. And just what I guessed, this is totally different with other systems. For sure, I got myself a multiple MA system just like this one, but this guy totally found the suitable mix for those MA. I'm preparing to export a simple MA system, please help me then
  • #4,795
  • Apr 14, 2011 6:46am Apr 14, 2011 6:46am
You should be watching the gbp/jpy instead. Lot's of touches on the steeply dipping 10 EMA which have been quite profitable

Quoting AlienFrog
I'm watching for EU to come up to touch the 10. Price just blew through 35/50 on H1.Daily also has a nice touch of 10 but may be at the end of a long run. But H4 (not shown) has a nice bullish touch of the 50 which is contradictory so I'm not sure. Also contradicting is that a short would be trading into the RN at 1.4400. Anyone looking to take this trade if it touches 10 on M15?
  • #4,796
  • Apr 14, 2011 6:51am Apr 14, 2011 6:51am
Quoting AndreyBecker
i wouldnīt take this trade because of the touch on h4.. itīs a very clean touch, so it would be to dangerous for me =) itīs just my opinion
Andrey, PA is proving you right! There is no strong pullback so no trade. Thanks for your input.
Luck occurs when preparation meets with opportunity.
  • #4,797
  • Apr 14, 2011 6:53am Apr 14, 2011 6:53am
Quoting cmeade2
You should be watching the gbp/jpy instead. Lot's of touches on the steeply dipping 10 EMA which have been quite profitable
cmeade you're right. I'm still a little scared of gj though, still in learning phase. I haven't had a chance to run it in the simulator yet. GY price swings are a little too wild for me.
Luck occurs when preparation meets with opportunity.
  • #4,798
  • Apr 14, 2011 7:03am Apr 14, 2011 7:03am
sometimes you have to look elsewhere because the price action on your favorite pair has been too extreme. The eu this morning is a great example as it had moved a long ways from the 10 EMA. In that case, you have to wait for it to make a serious pause (i.e., not just a touch), with the possibility of moving back in the opposite direction.

Quoting AlienFrog
cmeade you're right. I'm still a little scared of gj though, still in learning phase. I haven't had a chance to run it in the simulator yet. GY price swings are a little too wild for me.
  • #4,799
  • Apr 14, 2011 7:07am Apr 14, 2011 7:07am
even though it came up to touch the 10 EMA
  • #4,800
  • Apr 14, 2011 7:18am Apr 14, 2011 7:18am
I hope you all took this G/U long trade! It was good for +40

Reason for entry:

1) M15 constrainment of price at the support level in confluence with price action confirmation (Doji) at M5.

2) Confluence with H1 50 touch.

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