Attachments: CHOROS System

CHOROS System

#5,581
Jul 12, 2011 4:50am Jul 12, 2011 4:50am

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

Hi kostas1

May I ask you a question about using pinbar?

On the figure the white curve is the M15.E50 (confluence with M15.S35), I used the first arrow pinbar to enter, and put the SL just above the pinbar tip. The trade stopped out and the next M5 was also a pinbar. The price then reversed to 30-40 pip up to the time of the post.

Do you have any experience in handling this?

cheers,

Attached Image

#5,582
Jul 12, 2011 4:52am Jul 12, 2011 4:52am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting Demika

Disliked

Can't understand it. You guys are talking about how many pips you earned all the time but I have one looser after another...

Last example: EUR/GPB SMA35 touch, confluence with H1 M10 touch. Stopped out at -12 pips.

I'm trading The Dance since February now and I can't see any success. Dou you think there are people who just can't trade this strategy profitable?

http://www.myfxbook.com/members/MarcoR/nexus/116880

Ignored

Hopefully you are still in DEMO. Don't give up. Any method of trading needs patience and focus to make it work. My advice for now, choose one of EU, GU, choose one or two Choros techniques and trade only these in one currency for a couple of months.

#5,583
Jul 12, 2011 4:55am Jul 12, 2011 4:55am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting kk007

Disliked

Hi kostas1

May I ask you a question about using pinbar?

On the figure the white curve is the M15.E50 (confluence with M15.S35), I used the first arrow pinbar to enter, and put the SL just above the pinbar tip. The trade stopped out and the next M5 was also a pinbar. The price then reversed to 30-40 pip up to the time of the post.

Do you have any experience in handling this?

cheers,

Ignored

Yes it's called bigger SL. When there is strong action like this, price likes to take SLs that are close-by. The first pinbar was great but the SLs were obviously just above. So price took them out before going down. I was in the same trade (see CHOROS interactive). My SL was 10p above the M15 50.

#5,584
Jul 12, 2011 4:59am Jul 12, 2011 4:59am

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

Quoting kostas1

Disliked

Yes it's called bigger SL. When there is strong action like this, price likes to take SLs that are close-by. The first pinbar was great but the SLs were obviously just above. So price took them out before going down. I was in the same trade (see CHOROS interactive). My SL was 10p above the M15 50.

Ignored

Thanks for your opinion. Haven't you look at M5 PA for this one (or you touch traded this one)?

10 pips above M15.50 means 20 pips SL (if I entered at the bottom of the first pinbar), a day will stop out if I failed twice.

#5,585
Jul 12, 2011 5:03am Jul 12, 2011 5:03am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting kk007

Disliked

Thanks for your opinion. Haven't you look at M5 PA for this one (or you touch traded this one)?

10 pips above M15.50 means 20 pips SL (if I entered at the bottom of the first pinbar), a day will stop out if I failed twice.

Ignored

In my experience SL should be related to the current noise. You see how big are the M5 bars? In these cases, you either take the trade with bigger SL or just stay out until price makes smaller moves.

#5,586
Jul 12, 2011 5:11am Jul 12, 2011 5:11am

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

Quoting kostas1

Disliked

In my experience SL should be related to the current noise. You see how big are the M5 bars? In these cases, you either take the trade with bigger SL or just stay out until price makes smaller moves.

Ignored

Thanks kostas1

What you said is quite consistent with my own experience, length of pinbar has to be "comparable" to existing momentum to "counteract" the existing momentum for reversal!

I found that on the interactive thread you have touched trade the M15.50, this seems not your usual practise where you have to confirm with LTF PA.

#5,587
Jul 12, 2011 5:14am Jul 12, 2011 5:14am

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

Quoting kostas1

Disliked

Answers:
1) No, only Weekly and Monthly Pivot
2. Yes for R1/S1/R2/S2

Ignored

Hi kostas1,

I just found that Weekly and Monthly S1/S2/R1/R2 are as useful as Weekly and Monthly Pivot. Perhaps, you may consider putting them on your chart for observation (just a suggestion)

cheers,

#5,588
Jul 12, 2011 5:52am Jul 12, 2011 5:52am

asos101
| Commercial User | Joined Oct 2010 | 505 Posts

Quoting Demika

Disliked

Can't understand it. You guys are talking about how many pips you earned all the time but I have one looser after another...

Last example: EUR/GPB SMA35 touch, confluence with H1 M10 touch. Stopped out at -12 pips.

I'm trading The Dance since February now and I can't see any success. Dou you think there are people who just can't trade this strategy profitable?

http://www.myfxbook.com/members/MarcoR/nexus/116880

Ignored

thats because we are only posting the winners,

joking aside, post your losing trades marking the entry/exit properly to get some feedback

#5,589
Jul 12, 2011 5:55am Jul 12, 2011 5:55am

micmic
| Joined May 2010 | Status: The most persistent trader ever | 320 Posts

Ok, here it is. I added some color and line options for each MA. I think the variable names are self-explanatory. Right now it only plots projections if the chart's timeframe is the same as the MA's timeframe, eg it will plot the projection of the M1510 only on a M15 chart.

ETA: It's called HCISYIYKM, which stands for "How Can I Shoot You If You Keep Moving"

Attached File(s)

HCISYIYKM.ex4 16 KB | 390 downloads

#5,590
Jul 12, 2011 6:01am Jul 12, 2011 6:01am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting micmic

Disliked

Ok, here it is. I added some color and line options for each MA. I think the variable names are self-explanatory. Right now it only plots projections if the chart's timeframe is the same as the MA's timeframe, eg it will plot the projection of the M1510 only on a M15 chart.

ETA: It's called HCISYIYKM, which stands for "How Can I Shoot You If You Keep Moving"

Ignored

Thanks my friend. I will be testing it the next few days. You definitely earn the naming competition award.

#5,591
Jul 12, 2011 6:05am Jul 12, 2011 6:05am

asos101
| Commercial User | Joined Oct 2010 | 505 Posts

Quoting kk007

Disliked

Hi kostas1

May I ask you a question about using pinbar?

On the figure the white curve is the M15.E50 (confluence with M15.S35), I used the first arrow pinbar to enter, and put the SL just above the pinbar tip. The trade stopped out and the next M5 was also a pinbar. The price then reversed to 30-40 pip up to the time of the post.

Do you have any experience in handling this?

cheers,

Ignored

maybe because your settings for the M15.E50 are wrong?
look at mine below and check if you have the following in your M5 MTF

UpperTF1=15
and last 3 values are 0, 35, 10

Attached Image (click to enlarge)

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Name: kk007_m5 settings _wr.jpg
Size: 286 KB

#5,592
Jul 12, 2011 6:06am Jul 12, 2011 6:06am

joaogr
| Joined Jan 2009 | Status: Trader | 29 Posts

ETA: It's called HCISYIYKM, which stands for "How Can I Shoot You If You Keep Moving"

[/quote]

hahahahahahahahahahahahahahahahahahaha :>

#5,593
Jul 12, 2011 6:12am Jul 12, 2011 6:12am

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

Quoting asos101

Disliked

maybe because your settings for the M15.E50 are wrong?
look at mine below and check if you have the following in your M5 MTF

UpperTF1=15
and last 3 values are 0, 35, 10

Ignored

The M15.E50 MTF curve (white) match perfectly with the M5.E150 (green). So, I don't think there is anything wrong with the MTF EMA.

Instead, if you look at your own M15 chart for E50 and your own M5 chart for the MTF, they are not matched.

Attached Image

#5,594
Jul 12, 2011 7:10am Jul 12, 2011 7:10am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Caught with full lot size the scooped-up (+80p). Rather big SL just below 1.3900. Target was obviously the 1.4000. I love when these trades work. It just shoots up.

(I still think of the gap up there at 1.4230. It should be filled one way or the other...)

Attached Image (click to enlarge)

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Name: eu2.jpg
Size: 99 KB

#5,595
Jul 12, 2011 7:19am Jul 12, 2011 7:19am

iero4
Joined Jan 2011 | Status: Trader | 950 Posts

Quoting kostas1

Disliked

Caught with full lot size the scooped-up (+80p). Rather big SL just below 1.3900. Target was obviously the 1.4000. I love when these trades work. It just shoots up.
(I still think of the gap up there at 1.4230. It should be filled one way or the other...)

Ignored

Perfect Kosta,

I have come through many opinions about scooped up trades and when we should enter (I really love them) but what I have noticed is that we should wait for the price to create a higher low and then enter...

What is your opinion?

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

#5,596
Jul 12, 2011 7:24am Jul 12, 2011 7:24am

kostas1
Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts

Quoting iero4

Disliked

Perfect Kosta,

I have come through many opinions about scooped up trades and when we should enter (I really love them) but what I have noticed is that we should wait for the price to create a higher low and then enter...

What is your opinion?

Ignored

That makes perfect sense. You probably have observed that price very-very rarely makes a "V"-shaped change of trend. Usually, I wait for a double bottom or higher low in M5 before I feel confident for a scooped-up.

#5,597
Jul 12, 2011 7:26am Jul 12, 2011 7:26am