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CHOROS Interactive 2,625 replies

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Attachments: CHOROS System
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CHOROS System

Quoting iero4
Have a look at this one...!!!

I am currently +35

As I said before, I love scooped up trades.

Attachment

When and IF price hits my TP I will probably open a short because it will be the 1st touch of 35/50 H1 and maybe confluence with RN.
Congrats.
Are you going to wait for price to get all the way up there? Careful with GU it is sneaky and it may quickly reverse down.
Quoting kostas1
Congrats.
Are you going to wait for price to get all the way up there? Careful with GU it is sneaky and it may quickly reverse down.
Actualy, I waw going to wait to hit my TP but because as you say GU is sneaky, I closed it manualy when I saw it reversing. Not bad at + 25
You are allowed to fall but you are imposed to get up!
Quoting kostas1
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.
No I'm not, but every position is 0,01lot. So the losses (in Euro) are no problem.
I'll try only to take really "save" entries from now on. If this doesn't work as well I'll act on your advice
Hi guys I tend to see the term scooped up. Is the definition of scoop up the price moving followed by the 10EMA against the trend? (Because I remember eclayf referring to PA in this way) If no one answer me than I presume the answer will be a yes.
Riding the order flow
Quoting Demika
No I'm not, but every position is 0,01lot. So the losses (in Euro) are no problem.
I'll try only to take really "save" entries from now on. If this doesn't work as well I'll act on your advice
If you can, please post pictures of your trades, or give a description that would allow us to identify the trade on our chart. Price hit the 35SMA on EG several times last night. It would be helpful if you made it possible to identify the trade you took.
Opposite signals question: How do you guys decide when to take a touch of the 35/50 H1 short or a touch of the 35/50 M15 or M5 long like in this two examples in EU and AU...

I commented on this touch of 35 H1 with asos101 in the interactive, and he was just right about the scoop up... but what would be the other factors making you go for long signals even in smaller TF's.

Thanks for your comments

EDIT: In this case short signal on H1 should've been disredarded as 35/50 are diverging and H15 10 is scooping price up. I found a post that answers my question regarding two opposite signals: higher TF dictates the move...http://www.forexfactory.com/showthre...61#post3785061
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Flp. 4:13
Quoting Demika
No I'm not, but every position is 0,01lot. So the losses (in Euro) are no problem.
I'll try only to take really "save" entries from now on. If this doesn't work as well I'll act on your advice
I agree on the 0.01 lot for training, trading 0.01 lot is $0.10 per pip which is a risk anyone can take. Trading on demo is nececary to get the MT4 functions right after you learned that demo is more like a video game.
Would someone be kind enough to explain to me the difference between a "touch" trade and a "bounce" trade?

Is the "bounce" off the 35/50 and the touch off the 10ema?

Thank you.
Quoting bparks
Would someone be kind enough to explain to me the difference between a "touch" trade and a "bounce" trade?

Is the "bounce" off the 35/50 and the touch off the 10ema?

Thank you.
I have seen no distinction between touch/bounce trades... even the Choros Table of Contents (which you can find in the attachments tag above) refers to this trades as the same

EDIT: the refer as you said to 10 ma as touch trades and 35/50 ma trades as touch and bounce....
Flp. 4:13
The reason I ask is because - kostas1 wrote that on touch trades his PA confirmation comes from M1 and on rest of Dance trades his PA confirmation is from M5. So, I'm actually trying to determine when to use 1m vs 5m for confirmation.
Quoting micmic
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"
I like the name! Somewhere early in the thread it was called "The Serpent's Tongue." HCISYIYKM is much better! Thanks for sharing it!
Luck occurs when preparation meets with opportunity.
Quoting bparks
The reason I ask is because - kostas1 wrote that on touch trades his PA confirmation comes from M1 and on rest of Dance trades his PA confirmation is from M5. So, I'm actually trying to determine when to use 1m vs 5m for confirmation.
As far as I know, "bounce" is a general word, we don't call a trade a "bounce" trade here. When people called a trade touch trade, they enter exactly at the key level of interest.

Kostas1 typically looks at PA confirmation at LTF, I guess either M1 or M5 is ok as far as he likes the PA. But surprisingly to me, he took a touch trade on EURUSD yesterday, suggesting he use discretion a lot (which I don't know how he did it).
Quoting Demika
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
What helped me with this discretionary strategy was the fact that I have been trading strictly 100% mechanical strategies for some years with good success. It teaches me to follow the rules strictly and disregard my own feelings about the market. When I trade the dance I naturally trade according to the strategy and trail the SL strictly according to the guildlines without second guessing or being anxious. I don't care if I win or lose I only care that I follow the rules, not how many pips I am harvesting. That alone got me harvesting pip after pip with this strat. I will be going live next week. Hope it helps..... (My 1 cent worth)

PS: Being used to quantitative info I struggled somewhat with qualitative info when learning this strat. Coming from a scientific back ground didn't make things easier for me.. Suddenly the world is not black and white. Anyone here have that problem?
Riding the order flow
Okay. I found how kostas1 differentiates touch from bounce on 35/50. From post #4101:
Quoting kostas1
My approach on the 35/50.
I generally distinguish two situations for the 35/50:
A) Touch trade: Here I prefer the 35/50 to overlap and I also prefer 1 or two bar retraces. Sometimes if 35/50 overlap I will take 3 bar retraces
B) Bounce trade: Here I don't pay attention to 2-bar retrace since the 35/50 don't overlap (but still pointing up or down). I wait for the M5 to start indicating reversal from the M15 35/50 area and then I get in. Most times price will check both the 35/50 and then change direction.
Now I'd like to know if he uses 1m or 5m to confirm entries off 10ema.
Btw yesterday for EURUSD I have 3 losses for -10 pips each with no winners, looking back at hindside I still can't see any profitable opportunities according to the rules..... But I did make pips for GBPUSD and EURJPY....
Riding the order flow
Quoting bparks
Okay. I found how kostas1 differentiates touch from bounce on 35/50. From post #4101:

Now I'd like to know if he uses 1m or 5m to confirm entries off 10ema.
Thanks, I did miss the "bounce trade" term used by him.
but yesterday one, 35/50 did not overlap and retracement number was more than 3, but he did touch trade it.
We had more discussions about this in the thread. Read MORE carefully. For one last time:
-Touch is when the price barely touches the MA and quickly withdraws in the original trend direction. This is why I mostly use M1 to get into these. Sometimes the touch appears after the bar closes due to the MA movement. So to catch all of them you should be willing to take some risk and "guess" where the MA could go when the bar closes.
-Bounce is when the price stays on the MA for a few bars before giving a rejection formation and goes back, sort of "bounces" from the rubber band (MA). Here I use M5 to see the rejection early.
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Many times, doing a late evaluation of a chart will not reveal what was happening with the touches at real time. We have already discussed a lot about touches that appear after the price has continued its trend, while in real time there was no touch. And sometimes there will never appear a touch even though the trade was valid in real time, like in the following USDCHF trade I had earlier. That's why it's very difficult to make an accurate analysis of a chart after the bars have printed.

ETA: I could make an indicator that would mark the points where price touched the 10EMA projection for already printed bars, although that would only serve backtesting purposes.
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nice to see kostas active in the thread on a regular basis inbetween your posts had dried up (guess you were busy with other things) but good to see you back in full form

Quote
What helped me with this discretionary strategy was the fact that I have been trading strictly 100% mechanical strategies for some years with good success. It teaches me to follow the rules strictly and disregard my own feelings about the market. When I trade the dance I naturally trade according to the strategy and trail the SL strictly according to the guildlines without second guessing or being anxious. I don't care if I win or lose I only care that I follow the rules, not how many pips I am harvesting. That alone got me harvesting pip...
Alright, but I want to be sucessfull in this strategy without trading mechanical strategies for years. It's all about self-disciplin and that's what I have to learn.

Quoting duffypratt
If you can, please post pictures of your trades, or give a description that would allow us to identify the trade on our chart. Price hit the 35SMA on EG several times last night. It would be helpful if you made it possible to identify the trade you took.

Sure. Here's the one I was talking about: entry at the blue line (0.87903) and exit at the red one (0.88016). I know it was a three bar retrace as I entered the trade, but because of the very long green bar I expected the price to come down a bit.

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