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CHOROS System

  • #5,621
  • Jul 13, 2011 5:28am Jul 13, 2011 5:28am
Quoting Demika
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.




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.

Attachment
may i suggest you mark your entry/exit like this?
http://www.forexfactory.com/showthre...01#post4677501

and to delete the objects
http://www.forexfactory.com/showthre...72#post4677772

its much easier like that to see what happened
also mark it on the M5 if possible because in the chart above with the big spikes its hard to see the full story.
cheers
  • #5,622
  • Jul 13, 2011 5:59am Jul 13, 2011 5:59am
Quoting fugly
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

It can happen again. My work requires my presence from time to time..
  • #5,623
  • Jul 13, 2011 8:05am Jul 13, 2011 8:05am
Quoting asos101
may i suggest you mark your entry/exit like this?
http://www.forexfactory.com/showthre...01#post4677501

and to delete the objects
http://www.forexfactory.com/showthre...72#post4677772

its much easier like that to see what happened
also mark it on the M5 if possible because in the chart above with the big spikes its hard to see the full story.
cheers
Of course, here you go (hope it's okay now)

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt#.jpg Size: 198 KB
  • #5,624
  • Jul 13, 2011 9:23am Jul 13, 2011 9:23am
Quoting Demika
Of course, here you go (hope it's okay now)

Attachment
i dont follow that pair, but at first looks all the MAs are interwinded especially the 35/50 are twisting and turning, there is no definite direction.
why would you want to trade that crazy action ???
  • #5,625
  • Jul 13, 2011 9:54am Jul 13, 2011 9:54am
Quoting kostas1
It can happen again. My work requires my presence from time to time..
why bother with work when ur raking in cash with a fork lifter in Forex
  • #5,626
  • Jul 13, 2011 10:08am Jul 13, 2011 10:08am
Hey guys I need help. I have a serious issue trading choros! A few times I miss a fat trade just because I got bored and do something else like reading the news. Good trades like the 10MA touch just last for a few minutes sometimes and it is soooo easy to miss it. Any ideas anyone? How do you make sure you don't miss any opportunity??

Otherwise I will have an alarm ring every 5 minutes in which I have to at least glance at the chart and write notes on it the whole day..... The last thing I can think of is to trade a lot of markets like 15 so that opportunities keeps coming and missing 1 or 2 won't bother me....

PS: the definition money can put on wings and fly away feels so true in this case.
Riding the order flow
  • #5,627
  • Jul 13, 2011 10:16am Jul 13, 2011 10:16am
Quoting Binyamin
Hey guys I need help. I have a serious issue trading choros! A few times I miss a fat trade just because I got bored and do something else like reading the news. Good trades like the 10MA touch just last for a few minutes sometimes and it is soooo easy to miss it. Any ideas anyone? How do you make sure you don't miss any opportunity??

Otherwise I will have an alarm ring every 5 minutes in which I have to at least glance at the chart and write notes on it the whole day..... The last thing I can think of is to trade a lot of markets like 15 so that...
Very good question. The answer is very simple: you should be close to the computer from London open to first 2-3hrs of US open. Also be patient and don't just go into any trade. Unfortunately, I have not found an easier way to do this other than sitting in front of the screen for long stretches of time. But you can manage your time accordingly to allow for many relaxing breaks. You should be alert when a trend is in effect. If you see flat M15 35/50 lines you just go do something else and check after 1hr. When you see a trend then you should stay there to check on the retraces M15 10 touch/bounce, M15 35/50, etc.
  • #5,628
  • Jul 13, 2011 10:20am Jul 13, 2011 10:20am
Ha Ha!!!
A guy earned +18% yesterday and another +4.3% today complaining missing too much opportunity!!!!!
Feeling so jealous!!!!
There is some MA alert on this thread if you like, use it!!!

Quoting Binyamin
Hey guys I need help. I have a serious issue trading choros! A few times I miss a fat trade just because I got bored and do something else like reading the news. Good trades like the 10MA touch just last for a few minutes sometimes and it is soooo easy to miss it. Any ideas anyone? How do you make sure you don't miss any opportunity??

Otherwise I will have an alarm ring every 5 minutes in which I have to at least glance at the chart and write notes on it the whole day..... The last thing I can think of is to trade a lot of markets like 15 so that...
  • #5,629
  • Jul 13, 2011 11:25am Jul 13, 2011 11:25am
Quoting kk007
Ha Ha!!!
A guy earned +18% yesterday and another +4.3% today complaining missing too much opportunity!!!!!
Feeling so jealous!!!!
There is some MA alert on this thread if you like, use it!!!
Lol I am not trying to sound cocky but the feel good factor of not taking the full dance package is not there haha. Oh yeah, I will have to start using that MA alert now. I forgot about it! Thanks for the reminder.

Cheers Kostas, now I know that is the only way.
Riding the order flow
  • #5,630
  • Jul 13, 2011 12:02pm Jul 13, 2011 12:02pm
Quoting Binyamin
Lol I am not trying to sound cocky but the feel good factor of not taking the full dance package is not there haha. Oh yeah, I will have to start using that MA alert now. I forgot about it! Thanks for the reminder.

Cheers Kostas, now I know that is the only way.
No worry. Not that you sound cocky, just that I feel jealous...
I use MA alert a lot and love it!
  • #5,631
  • Jul 13, 2011 1:21pm Jul 13, 2011 1:21pm
Quoting asos101
i dont follow that pair, but at first looks all the MAs are interwinded especially the 35/50 are twisting and turning, there is no definite direction.
why would you want to trade that crazy action ???
There was a trend as you look at a bigger timeframe (chart below) - same in H1. Also the difference between 35/50 was just 4 pips...

Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt#.jpg Size: 97 KB
  • #5,632
  • Jul 13, 2011 3:46pm Jul 13, 2011 3:46pm
Quoting Demika
There was a trend as you look at a bigger timeframe (chart below) - same in H1. Also the difference between 35/50 was just 4 pips...

Attachment

looking at the image again still looks like a rangy f** to me, i was writing a long reply, but the more i write the less i say so i just kept this

[ i remember someone here say "some do some dont, so what? next.." ]
  • #5,633
  • Jul 13, 2011 4:48pm Jul 13, 2011 4:48pm
because my last reply may sound rude i will try to explain what i see after the fact of course.
price comes from reversal, cuts through 35/50 like butter in one huge bar.
the 35/50 are diverging at the time. even if was by the rules which it wasnt some trades just fail, how you manage these sometimes is important.
  • #5,634
  • Edited 10:01pm Jul 13, 2011 9:44pm | Edited 10:01pm
I have been looking at the silver market XAGXXX and Gold XAUXXX. I see a lot of opportunity for profit lately with the dance package. Good old Bernanke is officially talking about QE3 now, that is why recently silver and gold shot up a lot. Assuming QE3 gets underway, I think those 2 markets are going to be ripe for the dance harvest. Anyone into it?
Riding the order flow
  • #5,635
  • Jul 14, 2011 12:37am Jul 14, 2011 12:37am
As I write a good GBPUSD constraiment movement just happened on the 10EMA H1, If I took the trade I would have thought the market will go up but it went down. I would have lost money...

I can see when a constrainment trade is coming most of the time but I have no idea where is it going to break out. In this case the price is termed scooped up by the 10EMA, and arguably it will be a counter trend trade.
Riding the order flow
  • #5,636
  • Edited 3:41am Jul 14, 2011 3:30am | Edited 3:41am
Hi all I think everyone here can agree that high volatility is very good for the dance or choros trades, I use to do some research on market volatility and they are surprisingly predictable enough IMHO

Check this out and explore the pairs with this.

http://www.forexticket.co.uk/en/tools/02-01-volatility

With this knowledge the possibility to squeeze more profits and limit more risk with choros is endless. However right now my focus is to master the dance. I will do some serious research on these latter. Jedi masters please feel free to explore!
Riding the order flow
  • #5,637
  • Jul 14, 2011 9:42am Jul 14, 2011 9:42am
I know the market's been a little bit choppy for the past hours but I'm getting this on my GU charts, it's a confluence of M15 35/50 and they're on top of each other, touch on M5 35/50 again on top of each other, and touch on H1 10... maybe the angles are not that great, but the confluence seems convincing... what do you guys think about a signal like this?
Attached Image (click to enlarge)
Click to Enlarge Name: GUconfluence.jpg Size: 117 KB
Flp. 4:13
  • #5,638
  • Jul 14, 2011 10:05am Jul 14, 2011 10:05am
Quoting Anthar
I know the market's been a little bit choppy for the past hours but I'm getting this on my GU charts, it's a confluence of M15 35/50 and they're on top of each other, touch on M5 35/50 again on top of each other, and touch on H1 10... maybe the angles are not that great, but the confluence seems convincing... what do you guys think about a signal like this?
think again, heh 11 minutes after what do you think?
its crazy to trade the GU today, its range bound in 50 pips and dragged by the nose by the EU all day.
  • #5,639
  • Jul 14, 2011 10:17am Jul 14, 2011 10:17am
Quoting Anthar
I know the market's been a little bit choppy for the past hours but I'm getting this on my GU charts, it's a confluence of M15 35/50 and they're on top of each other, touch on M5 35/50 again on top of each other, and touch on H1 10... maybe the angles are not that great, but the confluence seems convincing... what do you guys think about a signal like this?
1st) You should not trust H1 10 touch since 35/50 are diverging.

2nd) It is a ping pong area which means that S/R levels are obvious and in this particular case they are the RN levels of 1.61 and 1.6150. So, you better look for positions at these levels but always keep in mind that these levels will break some time (They have been tested 4+ times each)...

Attached Image (click to enlarge)
Click to Enlarge Name: χωρίς τίτλο.JPG Size: 67 KB


This is my opinion mate...
You are allowed to fall but you are imposed to get up!
  • #5,640
  • Jul 14, 2011 10:35am Jul 14, 2011 10:35am
Quoting iero4
1st) You should not trust H1 10 touch since 35/50 are diverging.

2nd) It is a ping pong area which means that S/R levels are obvious and in this particular case they are the RN levels of 1.61 and 1.6150. So, you better look for positions at these levels but always keep in mind that these levels will break some time (They have been tested 4+ times each)...

This is my opinion mate...
I have just learn something new today, this is probably obvious to many of you btw. A diverging 35/50 MA shows that price is consolidating straight after a trend. (Ok this I already know but...) When prices are in consolidation their range can be traded between S and R's. Hence ping pong is one of them and what iero4 is showing now is one of them too. Will record this and come back to it again when I master the basic dance first........ Thanks iero4 for visually making it so clear.
Riding the order flow
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