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CHOROS System

  • #4,901
  • May 2, 2011 12:36pm May 2, 2011 12:36pm
Quoting kostas1
DO tell us how to do this.
I am now comfortable trading both EU and GU. But I hate switching between them in MT4. I would prefer having one monitor per currency (i.e. one for GU and one for EU) and one for my other computer work.

As a general advice for newbies and as I said before: Stay with ONE currency and learn it well. Then you can try learning another one and when you feel comfortable you can trade both simultaneously. With all my experience, only now I can say I am comfortable trading both EU and GU.
Been following your thread with interest Kostas because of the fact you like to increase your account by a certain amount every day. How is that going? If its still going well we could do with some help over at this thread: http://www.forexfactory.com/showthread.php?t=288324 where they seem to think that 10% a month is phenomenal and won't believe anyone who says that a certain percentage (average) can be done if you get the time to go over there.
  • #4,902
  • May 2, 2011 12:57pm May 2, 2011 12:57pm
Quoting ohammond
Been following your thread with interest Kostas because of the fact you like to increase your account by a certain amount every day. How is that going? If its still going well we could do with some help over at this thread: http://www.forexfactory.com/showthread.php?t=288324 where they seem to think that 10% a month is phenomenal and won't believe anyone who says that a certain percentage (average) can be done if you get the time to go over there.
Forget what others say you can or you can't do. Forex can be very rewarding when you pay your tuition and stay determined. I have lately dropped my daily target to 1.5% only because my lot size is big enough to provide a good daily income. I am also concerned that I will need to move to another broker since I am not happy with the speed of execution.
  • #4,903
  • May 2, 2011 1:06pm May 2, 2011 1:06pm
Quoting kostas1
Forget what others say you can or you can't do. Forex can be very rewarding when you pay your tuition and stay determined. I have lately dropped my daily target to 1.5% only because my lot size is big enough to provide a good daily income. I am also concerned that I will need to move to another broker since I am not happy with the speed of execution.
Fair enough, I know from my own experience it certainly can be done just thought it might be nice coming from somebody thats done it over a longer period of time, but no worries, glad you're still doing well.
  • #4,904
  • May 2, 2011 3:42pm May 2, 2011 3:42pm
Based on the sagely advice of others, I shifted my approach to focusing only on the EU.

Way more relaxing and way more profitable!

Thanks!
  • #4,905
  • May 2, 2011 9:41pm May 2, 2011 9:41pm
good morning all,

when I woke up this morning a good setup for eurjpy was developing and I entered into the trade in a few minutes or so. everything was in order: MAs had a steep angle, 35/50 were on top of each other, retracement happened in 2 bars and was around 15-20 pips. I aimed for 30, although the price went to +27 pips I got stopped out at +15, which means I'll probably send another trade of 15 within today
Attached Image (click to enlarge)
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  • #4,906
  • Edited 2:12pm May 3, 2011 5:12am | Edited 2:12pm
Hi!
Could somebody help me to get rid of Sunday candles? On my TradeStation platform I do not have this issue, but on MT4 I have tiny Sunday candles and pivots for Monday are also incorrect. As a result all moving averages look different than on my TS platform. Is it at all possible to include Sunday as part of Monday's trading day?

Also I have seen some of you is using a script that will leave entry and exit points and connecting line into chart for later analyzis - anyone cares to share?

Thanks in advance!
Payles
  • #4,907
  • May 3, 2011 6:13pm May 3, 2011 6:13pm
Quoting Payles
Hi!
Could somebody help me to get rid of Sunday candles? On my TradeStation platform I do not have this issue, but on MT4 I have tiny Sunday candles and pivots for Monday are also incorrect. As a result all moving averages look different than on my TS platform. Is it at all possible to include Sunday as part of Monday's trading day?

Also I have seen some of you is using a script that will leave entry and exit points and connecting line into chart for later analyzis - anyone cares to share?

Thanks in advance!
Payles
There are not really any "Sunday Candles", as what is shown as "Sunday" is actually the trading that is done in Sydney on Monday morning, so it is "Monday Trading".

This is to do with your broker's server and time settings. If they use GMT or London time, you will see "Sunday Candles". Many brokers use central European time, which does not show those candles as the opening of the market in Sydney corresponds with midnight. in Europe as opposed to "10 PM" in London.

So, you are stuck with it unless your client can adjust the time of your charts independently from your broker's feed (this would actually be easily done with an "Offset").

The only other alternative is to get another broker/feed.
  • #4,908
  • May 4, 2011 3:35am May 4, 2011 3:35am
yeah, i had 2 very beautiful signals today on eur/usd and eur/jpy.. both were closed with +16 on eur/usd and + 8 on eur/jpy.. +24 Pips is my daily target..

both were touches of the 10 MA on M15 chart in confluence with PA on M5.. It is clear to see on the charts below...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdm15.gif Size: 48 KB
Click to Enlarge Name: eurjpy.gif Size: 51 KB
  • #4,909
  • May 4, 2011 5:23am May 4, 2011 5:23am
Quoting bigtent
There are not really any "Sunday Candles", as what is shown as "Sunday" is actually the trading that is done in Sydney on Monday morning, so it is "Monday Trading".

This is to do with your broker's server and time settings. If they use GMT or London time, you will see "Sunday Candles". Many brokers use central European time, which does not show those candles as the opening of the market in Sydney corresponds with midnight. in Europe as opposed to "10 PM" in London.

So, you are stuck with it unless your client can adjust the time of...
Thanks, Bigtent!
  • #4,910
  • May 4, 2011 5:23am May 4, 2011 5:23am
Quoting AndreyBecker
yeah, i had 2 very beautiful signals today on eur/usd and eur/jpy.. both were closed with +16 on eur/usd and + 8 on eur/jpy.. +24 Pips is my daily target..

both were touches of the 10 MA on M15 chart in confluence with PA on M5.. It is clear to see on the charts below...
Classic!
I was also in the EU (milked it for +22p).
  • #4,911
  • Edited 6:10am May 4, 2011 5:41am | Edited 6:10am
Hi!
This is my first attempt to post a trade sample.
First two attempts were a bit too early and got out with +/- few pips. Next 2 were great trades. First entry: was waiting for a bit bigger retracement, but still got good entry. First exit was by partial profit target (+19 pips), second around resistance level (+32). Second entry wast at 10EMA after 2 bars pullback. Profit target was at R1 and heavy resistance, but sold earlier (+22 pips) as got chickened out by GBPUSD big red candle. Entries were good, but exits were not by the rules. However, got this time more pips captured than "by the rules" exits.

Will keep posting my trades if this is of interest for anyone.
Payles
Attached Image (click to enlarge)
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  • #4,912
  • May 4, 2011 7:42am May 4, 2011 7:42am
Nice and easy + 20 pips on 15M G/U 10 EMA touch with confluence of 5M doji and 5M constrainment at 35.

Comments on the chart below...


Attached Image (click to enlarge)
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You are allowed to fall but you are imposed to get up!
  • #4,913
  • May 4, 2011 8:07am May 4, 2011 8:07am
Another good by the rules entry which was good for at least 70 pips...

Constrainment of E/U 15M at RN which was more clear at the 5M with confluence of H1 Resistance area (lower line of ping pong channel).

Attached Image (click to enlarge)
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You are allowed to fall but you are imposed to get up!
  • #4,914
  • May 4, 2011 10:45am May 4, 2011 10:45am
This gets to a question I have been wondering about.

Is XXX.50 a round number? Clearly XXX.00 is, but your comments suggests that you treat .50 as an RN as well.


Quoting iero4
Another good by the rules entry which was good for at least 70 pips...

Constrainment of E/U 15M at RN which was more clear at the 5M with confluence of H1 Resistance area (lower line of ping pong channel).

Attachment
  • #4,915
  • May 4, 2011 11:04am May 4, 2011 11:04am
Quoting cmeade2
Is XXX.50 a round number? Clearly XXX.00 is, but your comments suggests that you treat .50 as an RN as well.
YES !
  • #4,916
  • May 4, 2011 11:06am May 4, 2011 11:06am
Quoting Payles
Hi!
Will keep posting my trades if this is of interest for anyone.
Payles
Absolutely!
The fact that I am not posting as much doesn't mean that you guys should stop. I just feel that I haven't got anything new to add, but you should continue posting and discussing anything related to CHOROS.
  • #4,917
  • May 4, 2011 4:13pm May 4, 2011 4:13pm
Quoting iero4
Another good by the rules entry which was good for at least 70 pips...

Constrainment of E/U 15M at RN which was more clear at the 5M with confluence of H1 Resistance area (lower line of ping pong channel).

Attachment
Didn't get to trade this session, but just to comment....

I wouldn't have taken that as the M15 10 seemed to be "scooping down" the price toward the RN, and it's been pretty spiky previously. Obviously. I'd have missed a lot of profit.
  • #4,918
  • May 4, 2011 4:25pm May 4, 2011 4:25pm
of course we want to posting , it is a great lesson every page of this thread (for us who are newbies!).
  • #4,919
  • Edited 1:21am May 5, 2011 1:10am | Edited 1:21am
Hi everyone,

Would like to discuss about yesterday's trade opportunity (which I did not take) and to hear your comments. Pls. review the charts below - at first glance this seemed like a good trade opportunity with price falling back to R1 level. Then a bit more, into previous SR levels and touching 50 EMA line, also forming a nice bottoming tail on right location. However, the trade would have ended with loss.

The sudden move was caused by the news and it is not recommended to trade during the time of significant news. Now the question - what kind of price action is needed to occure before we can say that the price has settled down after news? Hope this is good lesson for everyone.

Trade well!
Payles
Attached Image(s) (click to enlarge)
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  • #4,920
  • May 5, 2011 2:38am May 5, 2011 2:38am
Quoting cmeade2
This gets to a question I have been wondering about.

Is XXX.50 a round number? Clearly XXX.00 is, but your comments suggests that you treat .50 as an RN as well.
Of course it is...Read the manual
You are allowed to fall but you are imposed to get up!
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