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CHOROS System

I am writing this post to help new guys and to show them the phylosophy and approach that keeps me consistantly profitable (me at least). I am not a guru nor I am experienced enough to mentor anybody but I feel that I can put another brick in the wall...:nerd:

Steps:
1) When I open my platform I take a look at what happened before. In this particular case I show a strong uptrend and after that 2) a consolidation period. So at this point I was waiting for price to go down (what goes up comes down and what goes in comes out ) since H1 35/50 were diverging. The signal that would indicate that the price will go down is 3) the lower highs. So, since the lower highs have formed I am waiting for the perfect set up in M5 to 4) enter short .

Finaly, If it wasn't Friday I would have wait until the price hits the RN at 1.4350 but + 20 is not bad at all.

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You are allowed to fall but you are imposed to get up!
  • #5,722
  • Quote
  • Jul 22, 2011 12:01pm Jul 22, 2011 12:01pm
Quoting iero4
I am writing this post to help new guys and to show them the phylosophy and approach that keeps me consistantly profitable (me at least)...

Thanks, I read that.
Riding the order flow
  • #5,723
  • Quote
  • Edited 3:33pm Jul 22, 2011 3:17pm | Edited 3:33pm
Micmic,

Congratulations on “The Monster” indicator development. Signals from it today where very accurate, well done.

Please let me suggest, as Kostas did, to keep it as an indicator and let the human trader make the final decisions. I you want to create an EA (That can be very useful for back testing) then let me suggest two options.

Option 1
Complete your current project as an indicator and then create an EA that uses that indicator to trade. That way Humans and EAs can use the same indicator.

I you find some problems accessing the data on the indicator from the EA then:

Option 2
Create a library, something like "CHOROS Core" with all the variables, functions, etc. and then create the indicator and the EA using it. That way, if you make changes to the core system, both products are updated.

That is just my opinion.

Happy trading
Quoting micmic
The touches off MAs are now evaluated according to:

1) The period of the MA. Larger periods are stronger
2) The slope of the MA.
3) The number of bars it takes for a touch
4) The size of the retracement (too big or too small weaken the signal)
5) How many times price has touched that MA in the current trend
6) The size of the last retracement candle, weakens the signal if larger than the previous candle
7) The general trend of the pair based on several MAs
8) Support levels behind the trade
9) Resistance levels ahead of the trade
10) Agreement...
(This post comes as a reply of a conversation in Choros Interactive)
I wouldn't want to post further of this subject on Choros Interactive as requested by Haydel I'm posting a reply in here:::

I think that's a great list of variables and there's no way a human can compute them all before taking one trade... I think you're on a good road... and I would with all humbleness advice you to keep a "primitive" or rough record of your indicator un this phase and any subsequent phases, considering that adding subsequent indicators or filters may improve but may as well undermine the effectiveness of your indicator...
Flp. 4:13
Thanks Haydel,

actually it's already an EA, ie you can load it as an EA as well if you compile it without the "#property indicator_chart_window" directive. The only difference is that I haven't yet added buy and sell orders, so it just generates signals. And yes, a backtest does need it to be an EA. I already have converted data from Dukascopy that can give 99% modeling quality in backtesting as described in this page: http://eareview.net/tick-data But it's a lot of work yet. At least I hope that in a couple of weeks when I will leave for my vacation I will have prepared a version that I can leave running on demo. It will be interesting to see the results when I come back.
Quoting Anthar
I think that's a great list of variables and there's no way a human can compute them all before taking one trade... I think you're on a good road... and I would with all humbleness advice you to keep a "primitive" or rough record of your indicator un this phase and any subsequent phases, considering that adding subsequent indicators or filters may improve but may as well undermine the effectiveness of your indicator...
In the far future plans there is some kind of adaptive logic: If the EA takes a trade based on several signals and it fails, it would substract a point from the reliability of all these signals. The opposite in successful trades. The relevant weight of the various signals would then depend on their reliability. This could be changing automatically of course, eg the round numbers may be rather weak during a certain month but gain again on reliability on the next month.

A long road to get there though.
Quoting micmic
In the far future plans there is some kind of adaptive logic: If the EA takes a trade based on several signals and it fails, it would substract a point from the reliability of all these signals. The opposite in successful trades. The relevant weight of the various signals would then depend on their reliability. This could be changing automatically of course, eg the round numbers may be rather weak during a certain month but gain again on reliability on the next month.

A long road to get there though.
Yes it seems like a long road but it also seems like a great idea, man I have to tell you I wouldn't even know where to start to get there... the adaptability you talk about in the example of the round number is an interesting feature, this would improve the effectiveness in any market conditions...

Congratulations on your efforts and your ideas micmic, I'm sure they'll payoff (if they haven't yet) have a nice weekend... same for haydel
Flp. 4:13
Quoting micmic
In the far future plans there is some kind of adaptive logic: If the EA takes a trade based on several signals and it fails, it would substract a point from the reliability of all these signals. The opposite in successful trades. The relevant weight of the various signals would then depend on their reliability. This could be changing automatically of course, eg the round numbers may be rather weak during a certain month but gain again on reliability on the next month.

A long road to get there though.
It seems the Monster discussion is heating up. First congratulations to Micmic for his contributions and work. Second, thanks to all of you guys for moving the discussion in this thread which is appropriate. Micimic's signals to the CHOROS Interactive are fine there.

Finally, if I may suggest a name for this Indi: XOREYTHS (Greek for Dancer...). I think there is already a Monster EA in the FF....
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Quoting kostas1
Finally, if I may suggest a name for this Indi: XOREYTHS (Greek for Dancer...). I think there is already a Monster EA in the FF....
There is ? Ok, I'll decide at a later time on the name, based on how well it dances. I could call it Pentozali... or Sousta...
I used the M5 to enter this trade and got a very easy +15 winner!

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You are allowed to fall but you are imposed to get up!
+11.5 pip zero DD (Today Total: +16.5 pip, 2 trades)

Yesterday low, Daily S1, Fibo 50 @ H1 level.

Yes, this is a Dance trade, according to eclayf manual... he mentioned H1 Level and last day low..
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KK - I've been studying constrainment and reading everything Survivor posted. The USDCAD was not constrainment because price was not on one side of the MAs. Price was between the MAs.

Survivor likes to see 35/50 steep, all MAs above or below price, 2-3 (or more) small bars, and hugging an MA. I also noticed that he posts mostly H1 charts.

Here is a great example of constrainment on USDCHF this morning. (I'll bet you a dollar Survivor was in that trade!) If you were watching M15 you would have seen price hugging the 35MA which was a clue to look at the higher TF.

Unfortunately I'm in US EST and I wasn't awake or I would definitely have jumped on this trade. As I write it's +100 pips!

I've also attached a doc I compiled with all of Survivor's training posts and charts. It really helped me understand constrainment. I wish it would happen when I'm looking at the charts though!
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Attached File(s)
File Type: doc Survivor setups.doc   2.3 MB | 737 downloads
Luck occurs when preparation meets with opportunity.
Quoting AlienFrog
I've also attached a doc I compiled with all of Survivor's training posts and charts. It really helped me understand constrainment. I wish it would happen when I'm looking at the charts though!
Hey dude thanks heaps for your generosity!
Riding the order flow
Tons of thanks! AlienFrog, people on this thread is amazing good!!!!


Quoting AlienFrog
KK - I've been studying constrainment and reading everything Survivor posted. The USDCAD was not constrainment because price was not on one side of the MAs. Price was between the MAs.

Survivor likes to see 35/50 steep, all MAs above or below price, 2-3 (or more) small bars, and hugging an MA. I also noticed that he posts mostly H1 charts.

Here is a great example of constrainment on USDCHF this morning. (I'll bet you a dollar Survivor was in that trade!) If you were watching M15 you would have seen price hugging the 35MA which was a clue to look...
Not quite by the rule, the USDCAD suspected constrainment seem to work out - price move quite directly in the expected direction for already +40pip. My H1 chart template is not the original one, you can see the 10/35/50 is H4 (approx.). 35/50 is close and the 10 is "bending towards" the price.
I expected the price will go down more to at least around 0.9440. If not, may be just lucky coincidience. Let's see.


Quoting AlienFrog
KK - I've been studying constrainment and reading everything Survivor posted. The USDCAD was not constrainment because price was not on one side of the MAs. Price was between the MAs.

Survivor likes to see 35/50 steep, all MAs above or below price, 2-3 (or more) small bars, and hugging an MA. I also noticed that he posts mostly H1 charts.

Here is a great example of constrainment on USDCHF this morning. (I'll bet you a dollar Survivor was in that trade!) If you were watching M15 you would have seen price hugging the 35MA which was a clue to look...
Attached Image
Quoting AlienFrog
I've also attached a doc I compiled with all of Survivor's training posts and charts. It really helped me understand constrainment. I wish it would happen when I'm looking at the charts though!
Thanks AlienFrog!
Nice Job!
  • #5,737
  • Quote
  • Jul 25, 2011 10:18am Jul 25, 2011 10:18am
Quoting kk007
Not quite by the rule, the USDCAD suspected constrainment seem to work out - price move quite directly in the expected direction for already +40pip. My H1 chart template is not the original one, you can see the 10/35/50 is H4 (approx.). 35/50 is close and the 10 is "bending towards" the price.
I expected the price will go down more to at least around 0.9440. If not, may be just lucky coincidience. Let's see.
Hey nice trade because it was also a D1 10EMA touch trade.
-Steep + parallel 35/50 MA too.

Just a coincidence to you?
Riding the order flow
  • #5,738
  • Quote
  • Jul 25, 2011 10:54am Jul 25, 2011 10:54am
Quoting Binyamin
Hey nice trade because it was also a D1 10EMA touch trade.
-Steep + parallel 35/50 MA too.

Just a coincidence to you?
Perhaps, it was the power of the D1.E10..
I am not very experienced with constrainment, and should go back to the basic....
The indi spotted this constrainment in EURCHF today but with a low score due to some experimentation with the settings I've been having. Lots of infrastructure work since Friday. I'm not adding any more evaluation criteria (not that I can think of anything else to add, anyway). One of the newly added criteria was a rather aggressive spread evaluation, which dramatically lowered the score of many pairs. Basically I evaluate the spread as a percentage of the stop loss, so it doesn't matter a lot in higher timeframes but gets increasingly important in the lower ones. It also effectively prevents good score during hours when the broker has increased the spread a lot. I hope that soon the fun can begin, ie playing with the contribution of different factors to the overall score of the trade.
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Quoting micmic
The indi spotted this constrainment in EURCHF today but with a low score due to some experimentation with the settings I've been having. Lots of infrastructure work since Friday. I'm not adding any more evaluation criteria (not that I can think of anything else to add, anyway). One of the newly added criteria was a rather aggressive spread evaluation, which dramatically lowered the score of many pairs. Basically I evaluate the spread as a percentage of the stop loss, so it doesn't matter a lot in higher timeframes but gets increasingly important...
That should be interesting, I didn't know your indi could spot constrainment trades as well. I think the spread issue is a good factor to evaluate as it plays a big role in success of minor TF trades (at least in my case) and it is also suggested in the original rules to settle for pairs with the smaller spread and definitely nothing with a spread over 5....
Flp. 4:13
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