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CHOROS System

  • #5,681
  • Jul 19, 2011 9:46am Jul 19, 2011 9:46am
Quoting Binyamin
This past few days seems strange, the "by the rule" trades haven't been doing as well as other times. while I was on demo I was averaging easily 5-18% a day with 0.5% risk pertrade. Yesterday while trading my live account for the 1st time I only gain 10 pip. At this time I am down 20 pips. (I am only risking 0.1% pertrade)
You might want to install an antispyware I think the bank traders have implanted a spyware into your PC...
  • #5,682
  • Jul 19, 2011 10:03am Jul 19, 2011 10:03am
Quoting Whenever
I think we all here just comment positively in a constructive way, so I guess nobody will think that meant to be an ass.

You are right, it broke the 2 bar rules, but (I just mean it for your losing trade and hopefully for a winning next one) it did not break the rule:
1st Ema 10 Touch: Take it.
On closer inspection of the chart that trade of mine was a mistake because when I looked closer the second bar did not cross the 10EMA yet..... Right now that mistake cost me 0.1% Next time I have to look closer.
Riding the order flow
  • #5,683
  • Jul 19, 2011 10:34am Jul 19, 2011 10:34am
Quoting Binyamin
On closer inspection of the chart that trade of mine was a mistake because when I looked closer the second bar did not cross the 10EMA yet..... Right now that mistake cost me 0.1% Next time I have to look closer.
Would you like me to give you a MT4 indicator that you may try to use to prevent this problem?
  • #5,684
  • Jul 19, 2011 10:37am Jul 19, 2011 10:37am
Quoting kk007
Would you like me to give you a MT4 indicator that you may try to use to prevent this problem?
I can't tell if you are joking or not, but if you are serious yes, I would love to have it!
Riding the order flow
  • #5,685
  • Edited 11:23am Jul 19, 2011 10:52am | Edited 11:23am
Attachment
Quoting Binyamin
I can't tell if you are joking or not, but if you are serious yes, I would love to have it!
Assuming you know how to install a typical MT4 indicator, with this indicator, you type in the moving average, and a labelled horizontal line will show, so that you can't miss the exact level by 0.1 pip for touch trade at real time.

Syntax for a moving average you have to type in (type in the indicator properties user input window) is like this "M15.E50" for EMA 50 of M15 timeframe.
Attached File(s)
File Type: mq4 Binyamin2.mq4   7 KB | 442 downloads
  • #5,686
  • Jul 19, 2011 11:00am Jul 19, 2011 11:00am
What do you guys think about this M15 35/50 possible touch and second H1 10 touch...

I see fairly strong bearish momentum on M5 and a two bar retracement on M15 which also shows strong bearish...

Would you discard this signal due to strong bearish momentum... or better look for PA indication in M5 that a touch or bounce might occur?? Thanks for your comments, I know this thread is not that active at this hour but I appreciate any comment...
Attached Image (click to enlarge)
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Flp. 4:13
  • #5,687
  • Jul 19, 2011 11:06am Jul 19, 2011 11:06am
Quoting Anthar
What do you guys think about this M15 35/50 possible touch and second H1 10 touch...

I see fairly strong bearish momentum on M5 and a two bar retracement on M15 which also shows strong bearish...

Would you discard this signal due to strong bearish momentum... or better look for PA indication in M5 that a touch or bounce might occur?? Thanks for your comments, I know this thread is not that active at this hour but I appreciate any comment...
Even if
1. momentum is not that strong
2. 35/50 is very close, and
3. 2-bar retracement
I may still consider wait for PA confirmation.

Now 1 and 2 are not true, I will definitely wait for PA confirmation
  • #5,688
  • Jul 19, 2011 12:14pm Jul 19, 2011 12:14pm
Quoting kk007
Even if
1. momentum is not that strong
2. 35/50 is very close, and
3. 2-bar retracement
I may still consider wait for PA confirmation.

Now 1 and 2 are not true, I will definitely wait for PA confirmation
I appreciate your comments mate; this is how it turned out:

Maybe it was a good idea to wait for a touch/bounce off 50 or cover this with our SL, given the bearish momentum.
In the case of a 50 ma touch that actually occured it would've been worth for at least 20 pips.
A new signal for long in the form of a M15 35 H1 10 touch is happening as I write this post... let's see how it turns out
EDIT: this last signal has a confluence of M15 35 and H1 10 as stated plus what I have as DR1 that may have turned into a support...on the downside only that M5 is below MA's
Attached Image (click to enlarge)
Click to Enlarge Name: GU_M15H110_end.jpg Size: 107 KB
Flp. 4:13
  • #5,689
  • Jul 20, 2011 1:29am Jul 20, 2011 1:29am
Quoting kk007
Attachment

Assuming you know how to install a typical MT4 indicator, with this indicator, you type in the moving average, and a labelled horizontal line will show, so that you can't miss the exact level by 0.1 pip for touch trade at real time.

Syntax for a moving average you have to type in (type in the indicator properties user input window) is like this "M15.E50" for EMA 50 of M15 timeframe.
Thanks heaps, I like my name there. Yeah I know how to install it, I've been using MT4 and coding in MQL for quite a while now.

Thanks again.
Riding the order flow
  • #5,690
  • Jul 20, 2011 1:51am Jul 20, 2011 1:51am
Hi guys, I have been trading mechanical systems and familiar enough with writing EAs for quite a while now and one strategy I use to greatly reduce drawdowns is to reduce the position size after some string of losses. In a lot of cases doing so has enable me to reduce the DD by 50%. From my short time being here I also notice that in this strategy there are streaks of good days and streaks of bad days. The thing is testing this idea is something I can usually automate with an EA, but not so with this strat.

Yes I am going to research on it LATTER, after I am consistent enough, I am just wondering whether the experienced dancers can comment about the dance concerning wining/losing streaks. If there are such patterns then maybe this idea has some legs in regards to dance.

Thanks and regards
Riding the order flow
  • #5,691
  • Jul 20, 2011 2:32am Jul 20, 2011 2:32am
Hope you guys show this G/U trade...

If price hesitates I woll close manualy before my TP...
Attached Image (click to enlarge)
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You are allowed to fall but you are imposed to get up!
  • #5,692
  • Jul 20, 2011 3:50am Jul 20, 2011 3:50am
I don't know how you pros are profiting, all I see are low volatility and MA soups. I haven't place a single trade today.
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  • #5,693
  • Jul 20, 2011 3:54am Jul 20, 2011 3:54am
There is some consolidating bar there, how many bar of retracement are there before touch M5.E10.... please try to comment!!!
Attached Image
  • #5,694
  • Jul 20, 2011 3:56am Jul 20, 2011 3:56am
Quoting Binyamin
I don't know how you pros are profiting, all I see are low volatility and MA soups. I haven't place a single trade today.
other than the GU H4 50 reaction there hasnt been any action really, soup it is.
so maybe you are the pro
  • #5,695
  • Jul 20, 2011 4:38am Jul 20, 2011 4:38am
H1 10 touch, looks like a lot of them pay.
if this thing doesnt fly off, i would consider the H4 10 later.
ignore the H4 window, its full of fibs for no good reason.
Attached Image (click to enlarge)
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  • #5,696
  • Jul 20, 2011 4:45am Jul 20, 2011 4:45am
Quoting asos101
H1 10 touch, looks like a lot of them pay.
if this thing doesnt fly off, i would consider the H4 10 later.
ignore the H4 window, its full of fibs for no good reason.
I was waiting for M15 35/50 to be touched (almost), this didn't happen and I missed the setup.

Did you touch trade it or wait for PA confirmation? If you touched it, the DD was more than - 10 pip.
  • #5,697
  • Jul 20, 2011 4:55am Jul 20, 2011 4:55am
Quoting kk007
I was waiting for M15 35/50 to be touched (almost), this didn't happen and I missed the setup.

Did you touch trade it or wait for PA confirmation? If you touched it, the DD was more than - 10 pip.
the reaction was so fast that i didnt catch it at the lower point but only after it bounced.
the bounce was like 4 pips lower than my entry.
from the time i entered the DD was only 2.5 pips when it touched the H1 10 for a second time and then took off. Sl was 12 pips, a bit below the M15 35/50.
see my M1 chart below.
Attached Image
  • #5,698
  • Jul 20, 2011 7:23am Jul 20, 2011 7:23am
Quoting Binyamin
I don't know how you pros are profiting, all I see are low volatility and MA soups. I haven't place a single trade today.
I can assure you,there will be many days like this in the future...
but hey..like i said yesterday..mastering the system is not the difficult part in forex...the psychology part is the most difficult...which is mastering yourself..it will test your patience & discipline to the limit...
so don't worry..today also part of the training...training the patience & discipline..
  • #5,699
  • Jul 20, 2011 10:08am Jul 20, 2011 10:08am
This is a setup today, price touched the M15.E50 on M15 chart and on the M5 chart a pin bar was shown.

I wonder how would experienced traders handle this...
Please comment....
Attached Image (click to enlarge)
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  • #5,700
  • Edited 11:45am Jul 20, 2011 10:24am | Edited 11:45am
Quoting Binyamin
I don't know how you pros are profiting, all I see are low volatility and MA soups. I haven't place a single trade today.
Thanks for the encouragement, though I really don't think I'm pro.

Quote
I can assure you,there will be many days like this in the future...
but hey..like i said yesterday..mastering the system is not the difficult part in forex...the psychology part is the most difficult...which is mastering yourself..it will test your patience & discipline to the limit...
so don't worry..today also part of the training...training the patience & discipline..
Yes, I really agree with you. I thought I have gotten over my trading fears until i started trading this system.
Riding the order flow
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