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CHOROS System

  • #4,941
  • May 6, 2011 3:08am May 6, 2011 3:08am
Quoting iero4
Kosta could you please make it more clear? What do you mean by "repositioning"?

Would you use higher time frames for your entries or exits?

Thank you in advance!

Iero
He means they're taking profits and/or going from long to short.
  • #4,942
  • May 6, 2011 5:40am May 6, 2011 5:40am
Quoting bigtent
Anyone catch the big ride on the EU?
I did EJ, but exited after 25 pips profit :S
  • #4,943
  • May 7, 2011 1:08am May 7, 2011 1:08am
In case you are new to this thread, may I offer some advice. I have learned that CONFLUENCE CONFLUENCE CONFLUENCE is the key!!!! Let me give an example here. If I see that we have moved away from the 35/50/62 EMA and we are moving back up towards it, I will then look for a recent pivot (high or low) in that area. If I see that, I will move to a smaller time frame, such as the 15 minute and look for a reversal signal such as a pin bar or my personal favorite, STOCHASTIC DIVERGENCE. I love to play stochastic divergences on the smaller time frames, even as low as the 3 minute. The confluences on a trade like this was: hit of a EMA on the 1 hour, pivot, and divergence on the 15 minute stochastics. The more confluence you have, the greater your potential reward will be. I also keep my risk very low. There's no need for a 50 pip stop on a 1 hour chart! Just some words of advice. I have enclosed a pic of my broker statement for this week. 14% growth in 2 days assuming no more than 1.5% risk per trade. Good luck! As a side note, for more info and ideas on divergence trades I HIGHLY recommend the bella divergence thread on ff.
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  • #4,944
  • May 7, 2011 6:58am May 7, 2011 6:58am
Quoting doriotcapita
In case you are new to this thread, may I offer some advice....
???
  • #4,945
  • May 7, 2011 6:34pm May 7, 2011 6:34pm
Quoting doriotcapita
In case you are new to this thread, may I offer some advice....
doriotcapita, welcome to the Choros thread about the Dance strategy, and thank you for your advice. We do understand and use confluence on different TFs. But this method does not use Stochastics or RSI or other oscillators as they are not necessary for good profits. This is not a mega-pips-per-day strategy, but rather a consistent-pips-per-day strategy. I'm sure your Stochastic divergence is good and I hope you are profitable. But it does not seem to fit with Dance since trades are based on touches of MAs, not so much moving toward or away from them.

I would encourage you to look at the first page of this thread, where you will find complete instructions, the MT4 indicators used, and the basic rules, all ready for download. Good trading!
Luck occurs when preparation meets with opportunity.
  • #4,946
  • May 8, 2011 9:06pm May 8, 2011 9:06pm
Quoting AlienFrog
doriotcapita, welcome to the Choros thread about the Dance strategy, and thank you for your advice. We do understand and use confluence on different TFs. But this method does not use Stochastics or RSI or other oscillators as they are not necessary for good profits. This is not a mega-pips-per-day strategy, but rather a consistent-pips-per-day strategy. I'm sure your Stochastic divergence is good and I hope you are profitable. But it does not seem to fit with Dance since trades are based on touches of MAs, not so much moving toward or away from...
He is saying that he uses stochastic divergence to confirm his MA touch trades from what I read. That would be an addition to the Dance, so it is a personal choice, but if it works for them, good on it!
  • #4,947
  • May 9, 2011 12:48am May 9, 2011 12:48am
good morning guys! look at eur/jpy a beautiful constrainment on m15 and h1 ;-)
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  • #4,948
  • May 9, 2011 5:33am May 9, 2011 5:33am
Quoting bigtent
He is saying that he uses stochastic divergence to confirm his MA touch trades from what I read. That would be an addition to the Dance, so it is a personal choice, but if it works for them, good on it!
Ah! "Make it your own." I missed that, sorry. Thanks for the clarification Bigtent.
Luck occurs when preparation meets with opportunity.
  • #4,949
  • May 9, 2011 6:16am May 9, 2011 6:16am
Is this a good M15 35/50 setup? (about 1 hr ago). (Trading against a triple bottom)
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  • #4,950
  • May 9, 2011 7:51am May 9, 2011 7:51am
Quoting AlienFrog
Ah! "Make it your own." I missed that, sorry. Thanks for the clarification Bigtent.
No worries mate. I don't know if such a thing would help me or confuse me. Any indicator is just another way of looking at price action (past, present, etc). Even candle sticks are indicators.

I get confused enough with what I have, but then again, if my wife wasn't on her side of the bed, I'd be confused about which side I have to get out of in the morning!
  • #4,951
  • May 9, 2011 7:52am May 9, 2011 7:52am
Quoting kk007
Is this a good M15 35/50 setup? (about 1 hr ago). (Trading against a triple bottom)
My 20/20 hindsight says it was!

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  • #4,952
  • May 9, 2011 9:58am May 9, 2011 9:58am
I actually entered buy after the triple bottom formed on my marked S/R (not Dance setup). The price went in my direction for more than 10 pips, I was thinking the price could break the 35/50 confluence (thought it was not a good Dance setup). But no, price reversed and my trade went breakeven later.

Quoting bigtent
My 20/20 hindsight says it was!

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  • #4,953
  • May 10, 2011 1:18am May 10, 2011 1:18am
perfect morning constrainment eu ..
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  • #4,954
  • May 10, 2011 1:19am May 10, 2011 1:19am
now I am waiting for m15/10 touch...
  • #4,955
  • May 10, 2011 4:25am May 10, 2011 4:25am
Double bottom pa right out of the manual.
M15 10 touch
H1 TOM is north
D1 is in a bullish candle
Target is next RN, but I'll watch it and take 10 pips if I have to

I would have entered a the open of the candle that touched the 10 but I just woke up and turned on the computer.

It's taking me a couple of minutes to post this, and price is hovering below my entry. It may follow the 10 upwards and make me sweat for a while.

I know, I said I would trade only EU. This is in my demo account so it's an educational trade.
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Luck occurs when preparation meets with opportunity.
  • #4,956
  • May 10, 2011 5:00am May 10, 2011 5:00am
That's why I'm only trading EU live! Now UJ looks like it might bounce off 35/50 in M15 and H1. M15 showing 35/50 nice and close, and closing together. H1 35/50 is nice too, although flat. Confluence with RN, too. I'll look for a bounce right off the RN, but I probably wont trade it even in demo.
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Luck occurs when preparation meets with opportunity.
  • #4,957
  • May 10, 2011 5:52am May 10, 2011 5:52am
Hello again traders!
I took the touch of m15/10 ([email protected]) but very
fast I stoped out! The 35-50 looked closed enough and also
10ema had right bias ..(when the bars closed changed also the bias).
I think the 2 bars rule was the point....
Any other suggestions to avoid similar loses are welcomed!
(Sorry for my english)
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  • #4,958
  • May 10, 2011 10:24am May 10, 2011 10:24am
Quoting makonen
I think the 2 bars rule was the point....
Correct. It took 4 bars to touch. Also the rejection pinbar (two bars before the touch) signaled that the price didn't want to go lower. Both of these signs should have kept you away from this touch. The 35/50 bounce was good for at least 20p, or more if you got in exactly at the 50 (confluence with H1 10).
  • #4,959
  • May 10, 2011 3:15pm May 10, 2011 3:15pm
thank you Kostas very usefull your comments!
  • #4,960
  • May 11, 2011 5:23am May 11, 2011 5:23am
Missed the count down and just got here after lift off... Unfortunately that retrace didn't come back far enough.

Hope someone caught it before launch!

If you did, I hope you were wearing a seat belt!
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