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CHOROS System

  • #5,521
  • Edited 5:16am Jul 5, 2011 4:45am | Edited 5:16am
Quoting Binyamin
Thanks so much for sharing however just to point out. I am guessing that you took the trade based on the touch of the 10EMA M15. However the during the touch of the 10EMA the angle don't seem steep enough for a 10EMA touch trade PLUS it broke the 2 bar rule based on the dance rules..... However you may have taken it as some S and R entry, because a few bars back, there were some wicks that were touching at the level you entered.

PS: I just got started practicing the dance a month + ago this is just my humble opinion and it is open to corrections...
Binyamin

In my opinion, since 35/50 are converging, the trade is valid.
You are allowed to fall but you are imposed to get up!
  • #5,522
  • Jul 5, 2011 6:03am Jul 5, 2011 6:03am
Quoting Binyamin
The only issue with the sim is during weekends I cant play properly due to the widened spread. Small price to pay for something so good btw.
Here’s another way to solve the weekend spread problem. This drove me crazy, too, until I found this solution.

 1) Find the folder in your MT4 installation files which contains your account name. It will be under the History folder. My broker is Oanda, so in my case it is “Crogram FilesOANDA - MetaTraderhistoryOANDA-MT4 Practice”
 2) In this folder you will find a file called symbols.sel. This file contains the current spread info.
 3) At a time during the day when spreads are normal, save a copy of this file. You will need to close MT4 to save it or you will get an error that the file is in use.
 4) Now on the weekend, open MT4, go to File/Login, and uncheck the “Save account information” checkbox. Click the Login button.
 5) Close MT4
6) Now copy the symbols.sel file (that you saved previously) to the “Crogram FilesOANDA - MetaTraderhistoryYourAccountName” folder. You will want to overwrite the existing file with the saved file.
 7) Open MT4 and DO NOT LOG IN TO YOUR ACCOUNT ONLINE! You will see the normal spreads and now you can run the demo.
 8) When the market opens just go to File/Login and log in to your live account. it will update the symbols.sel file with current spreads and you are back to normal.

 Hope this helps!
Luck occurs when preparation meets with opportunity.
  • #5,523
  • Jul 5, 2011 6:29am Jul 5, 2011 6:29am
Quote
Here’s another way to solve the weekend spread problem. This drove me crazy, too, until I found this solution.
Cool will try that this weekend! Cheers


Quote
Binyamin

In my opinion, since 35/50 are converging, the trade is valid.
Hmm, I can't quite remember the manual saying anything about entering a 10EMA touch when the 35/50 converge despite violating the 2 rules....... As far as I know we don't trade the MA crosses..... However the trade will be valid if the touch is at 35/50 according to the rules which will make it a confluence trade.

Ok I will re check the dance manual again to confirm it. Thanks for pointing out.
Riding the order flow
  • #5,524
  • Jul 6, 2011 4:20am Jul 6, 2011 4:20am
2 bars retracement to the EMA 10 on M15 + RN 1,6025 (and nearly weekly pivot, but the risk of the DD until there was acceptable for me, to not lose the train downwards)

TP was the next RN and previous S/R Level at 1.6004 (don't forget the spread)

+ 23 on this.
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  • #5,525
  • Jul 6, 2011 7:19am Jul 6, 2011 7:19am
It seems to me that there are some who is not yet consistently profitable with this strategy and admit that he should have initiate less trades; only trade the most obvious, the most probable setups.

Let me ask those who are consistently profitable with Dance / Choros:

· How many trades do you take a day or in a week?
· How many days are there in a month when you don’t find setups good enough, so you don’t take any trade?
· Which pairs do you find the most profitable to trade with Dance / Choros?
· Based on which time frame do you make your trade opening decisions, i.e. which time frame do you trade most? I know the main TF is M15 (at least in the original Dance) and there are the M5 and M1 TFs to “help timing the trades”, but it seems to me that there are some (e.g. Kostas) who take some trades based mainly or solely upon the M5 TF.
So what is the distribution of your trades amongst the several time frames regarding trade opening decision (not timing)?
  • #5,526
  • Jul 6, 2011 8:58am Jul 6, 2011 8:58am
First Touch 35 M15 in confluence with RN and H1 EMA10

So again it was:

1) 1st touch of 10 take it ! (I took also the 2nd for 2 or 3 pips)
2) 1st touch of 35 take it !

Thanks Master Jedi Kostas1
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  • #5,527
  • Jul 6, 2011 1:51pm Jul 6, 2011 1:51pm
Guys please excuse me if I get you back to preschool but I need some help with my MT4 platform.

Actualy it's been just few days since I started using MT4. Today I installed all the DANCE scripts and indicators but it seems to have some problems.

First, the Round Number indicator appears at every 5 units and messes up my charts. So, I change the value to 50 but it lasts only few seconds and then it changes again by itself. (Imagine your chart to have a line at every five units ).

Second, I don't see any script that will let me trail my stops. Could anyone please attach it?

Another problem that I face is the buy, sell and set lot size scripts seem not working. In the manual says that the "set lot size" script MUST BE SET FIRST for each session or the next two scripts which execute a buy and a sell WILL NOT work. What does it mean by " MUST BE SET FIRST for each session"???

Thanx in advance!
You are allowed to fall but you are imposed to get up!
  • #5,528
  • Jul 6, 2011 6:25pm Jul 6, 2011 6:25pm
Quoting iero4
Guys please excuse me if I get you back to preschool but I need some help with my MT4 platform.

Actualy it's been just few days since I started using MT4. Today I installed all the DANCE scripts and indicators but it seems to have some problems.

First, the Round Number indicator appears at every 5 units and messes up my charts. So, I change the value to 50 but it lasts only few seconds and then it changes again by itself. (Imagine your chart to have a line at every five units ).

Second, I don't see any script that will let me trail my...

Try this setup for the roun dnumber indicator:

Grid Space: 25
Alert Band: 10

If nothing works try removing this files from your indicators folder and re-pasting them properly or even delete the files and download them again.

Regarding scripts try and use the one I'll attach here, credits to the original uploader whose name I can't remember. And make sure you have enabled scripts and EA's in your MT4 (you can do this in the menu Tools> Options>Expert advisors tab) check image below

What "must be set for each session" means is that every time you open tou MT4 you will have to set the lot size which you'll trade, this acording to your acct size and R:R level.

If you have any more questions regarding lots or things like that PM me and I'll try and answer... hope this helps

PS. I have no trailing stops script but I'm sure someone else may have one
Attached Image
Attached File(s)
File Type: zip Trade scripts.zip   11 KB | 424 downloads
Flp. 4:13
  • #5,529
  • Jul 6, 2011 10:48pm Jul 6, 2011 10:48pm
Quoting Anthar
PS. I have no trailing stops script but I'm sure someone else may have one
Off the top of my head eclayf the founder of the original system did mention that it is better to learn how to trail the stoploss for this strategy. It will yield more profit than a fix mechanical trailing stop. Sorry I can't find the quote now but it is between page 1 to 21 of the original dance thread. Jedi Kostas haven't post recently to answer previous questions, I think I saw him in the news on the streets of Athens fighting with Darth Vedar's look alike. May the force be with him.

So far with the simulator this system do make some goodly amount of money if I am patient and trade the system by the book only. I lose money when I place trades based on my discretion and exit prematurely.... The touch of the 35/50 MAs tend to retest those area.... so the key for me is not to move the stoploss until the price resumes it's trend. My 2 cents worth.
Riding the order flow
  • #5,530
  • Jul 7, 2011 12:52am Jul 7, 2011 12:52am
Quoting Binyamin
Jedi Kostas haven't post recently to answer previous questions, I think I saw him in the news on the streets of Athens fighting with Darth Vedar's look alike. May the force be with him.
I can't hide from you guys....
Anyway, I think I can beat this guy.....
Attached Image
  • #5,531
  • Jul 7, 2011 2:53am Jul 7, 2011 2:53am
Quoting Anthar
Try this setup for the roun dnumber indicator:

Grid Space: 25
Alert Band: 10

If nothing works try removing this files from your indicators folder and re-pasting them properly or even delete the files and download them again.

Regarding scripts try and use the one I'll attach here, credits to the original uploader whose name I can't remember. And make sure you have enabled scripts and EA's in your MT4 (you can do this in the menu Tools> Options>Expert advisors tab) check image below

What "must be set for each session" means is that every...
Anthar thank you my friend. I appreciate your help!

Regards
You are allowed to fall but you are imposed to get up!
  • #5,532
  • Edited 4:25am Jul 7, 2011 4:07am | Edited 4:25am
Here is my first image post on this thread.
These trades happened yesterday 06/07/2011 Wednesday. For EURUSD. ALL MY SL IS 10 PIPS

Trade 1
Taken as a 10EMA 15M touch trade. Unfortunately I have bad trade management skills and only bag 14 pips as oppose to 25 pips if I do it right.

Trade 2
Entered a 10EMA 15M touch trade. Price didn't move too well hence I kept my SL at break even. Stopped out with 0 pips.
PS: Again with better trade management skills I could have bagged in a few pips on this one. The other thing is the ang;e of it was bad and I probably shouldn't have taken this trade at all.

Trade 3
Entered a 10EMA 15M touch trade. The second bar looked uncertain. So I quickly move my SL tighter. lost 2 pips. I should have wait till the close of the second bar before I move my SL.

Trade 4
Entered as a 35MA touch trade. Price looked uncertain so I exit at Breakeven

Trade 5
Reentered as a 35 MA touch trade. Learning from my mistake I hang on to the trade and ride it until it went pass the round number. I exit at the first sign of uncertainty. Bagged in 33 pips.
PS: I realized it can be a constraintment trade at hind side. (I think entering as a touch trade is wrong because the bars were small and the price did not move at least 15 pips in the right direction. Someone please comment on this mistake)

Total pips = 14-2+33 = 45 pips

If I know how to trail SL well I could have bagged

Total pips = 25 + 3 +33 =61 pips

A difference of 36% in profit!
http://s4.postimage.org/nc4j9v7z5/EURUSD.png
image upload

If I am breaking the dance rules or if you even think I am breaking the rules someone please kindly point out. I can take bashing pretty well
Riding the order flow
  • #5,533
  • Jul 7, 2011 4:50am Jul 7, 2011 4:50am
Quoting Binyamin
Trade 3
Entered a 10EMA 15M touch trade. The second bar looked uncertain. So I quickly move my SL tighter. lost 2 pips. I should have wait till the close of the second bar before I move my SL.
Binyamin,

Trade 3 brakes the rules since you have no parallel 35/50. They are diverging which means that your entry is not safe. In addition, I would recommend you before open a position to use other TFs such as H1 and M5 to get some confirmation and confluences.

* Read the choros TOC which you can find on page 311 of the current thread.
You are allowed to fall but you are imposed to get up!
  • #5,534
  • Jul 7, 2011 5:21am Jul 7, 2011 5:21am
Quoting Binyamin

Trade 1
Taken as a 10EMA 15M touch trade. Unfortunately I have bad trade management skills and only bag 14 pips as oppose to 25 pips if I do it right.

Hi Binyamin,

14 pips are excellent!!! You should not think about the trade after your trade is closed.

I took one advice some months ago and I'm closing all trades after 10 pips gain.

This is more than enough for the beggining. Be patient and wait for the right set up, you will get 3+ aa set up's a day.
  • #5,535
  • Jul 7, 2011 5:49am Jul 7, 2011 5:49am
Quoting iero4
Binyamin,

Trade 3 brakes the rules since you have no parallel 35/50. They are diverging which means that your entry is not safe. In addition, I would recommend you before open a position to use other TFs such as H1 and M5 to get some confirmation and confluences.

* Read the choros TOC which you can find on page 311 of the current thread.
Quote
Hi Binyamin,

14 pips are excellent!!! You should not think about the trade after your trade is closed.

I took one advice some months ago and I'm closing all trades after 10 pips gain.


Noted with thanks, I will look into it latter got to rush for a function now.
Riding the order flow
  • #5,536
  • Jul 7, 2011 6:41am Jul 7, 2011 6:41am
Look for my comments on this 1-2 weeks before.
Also look for the scripts of Bigtent. His scripts are better for opening trades. He also made a trailing stop EA – you can find it after clicking the link in the upper right corner of the thread listing all the attachments of the thread. There is a 109 kb .zip file containing all the scripts made/used by Bigtent 2-3-4 month before.
And look for luktom visual order editor for a comprehensive tool to set and modify trades, SL, TP, trailing stop. You can find it within this threads attachments or type it in google and look for it on its website.

Quoting iero4
Second, I don't see any script that will let me trail my stops. Could anyone please attach it?

Another problem that I face is the buy, sell and set lot size scripts seem not working. In the manual says that the "set lot size" script MUST BE SET FIRST for each session or the next two scripts which execute a buy and a sell WILL NOT work. What does it mean by " MUST BE SET FIRST for each session"???

Thanx in advance!
  • #5,537
  • Jul 7, 2011 7:08am Jul 7, 2011 7:08am
Hi Guys,

What do you think of the method of Al Brooks (Reading Price Charts Bar by Bar) in regards of Dance / Choros?

Is it a good method in its own?

Can it be combined with Choros? Or these two are totally different ways of approaching the market, so one has to decide on which method he applies?
  • #5,538
  • Jul 7, 2011 7:49am Jul 7, 2011 7:49am
Ok lets post some trades here since there are some new guys (including me) in the thread that need assistance.

Here is my first trade for today which gave me +20! Not bad at all...

ENTRY
GBP/USD M15 35 touch in confluence with H1 10 touch.

EXIT
Exit target was the next RN which was hit but I decided to close manualy since it was news time.

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You are allowed to fall but you are imposed to get up!
  • #5,539
  • Jul 7, 2011 8:08am Jul 7, 2011 8:08am
Quoting iero4
Ok lets post some trades here since there are some new guys (including me) in the thread that need assistance.

Here is my first trade for today which gave me +20! Not bad at all...

ENTRY
GBP/USD M15 35 touch in confluence with H1 10 touch.

EXIT
Exit target was the next RN which was hit but I decided to close manualy since it was news time.

Attachment



(It also was a case of H1 10 constrainment which made me take this one, +21p)....
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  • #5,540
  • Jul 7, 2011 8:30am Jul 7, 2011 8:30am
Quoting Arpi75
Look for my comments on this 1-2 weeks before.
Also look for the scripts of Bigtent. His scripts are better for opening trades. He also made a trailing stop EA – you can find it after clicking the link in the upper right corner of the thread listing all the attachments of the thread. There is a 109 kb .zip file containing all the scripts made/used by Bigtent 2-3-4 month before.
[font=Arial]And look for luktom visual order editor for a comprehensive tool to set and modify trades, SL, TP, trailing stop. You...

Thank you for your help mate
You are allowed to fall but you are imposed to get up!
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