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CHOROS Interactive 2,604 replies

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CHOROS System

Quoting Konata
Sorry. I am a total beginner in this system.

Does that mean, say its a short trend, two bar rule indicate that it takes 'two large bars' being two green bars to touch the 10MA?

Thanks and sorry.

Yes, that's exactly what it means, it sets the standard for an ideal "by the rules" trade, meaning that whenever this condition is not met the probabilities of your trade will decrease in some level... that doesn't mean you won't find times when rule wasn't met and the trade would've worked. But you must remember trading is a probability bussiness and we must do everything in our hand to increase our probabilities.

So here's a graphic example of a perfect by the rules 10 EMA touch trade, notice too how the more times 10 EMA has been touched, the probabilities of our trade being succesful decreases, that's why it's recommended to take first or second touch of the 10, not further touches...

Hope this helps!
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Flp. 4:13
Quoting Anthar
Yes, that's exactly what it means, it sets the standard for an ideal "by the rules" trade, meaning that whenever this condition is not met the probabilities of your trade will decrease in some level... that doesn't mean you won't find times when rule wasn't met and the trade would've worked. But you must remember trading is a probability bussiness and we must do everything in our hand to increase our probabilities.

So here's a graphic example of a perfect by the rules 10 EMA touch trade, notice too how the more times 10 EMA has been touched,...
It definitely does help!

Then I guess the next silly question is, when does the count 'reset'?
As in, under what circumstance does a 10 EMA 'touch' be back to '1st touch' and '2nd touch'?

Does the, based on your example, does that reset as '1st touch' again?

http://my.jetscreenshot.com/demo/20110727-ywrh-77kb.jpg
Quoting Konata
It definitely does help!

Then I guess the next silly question is, when does the count 'reset'?
As in, under what circumstance does a 10 EMA 'touch' be back to '1st touch' and '2nd touch'?

Does the, based on your example, does that reset as '1st touch' again?
That's actually a good question, it is in fact the same question I had in my mind when I heard 1st touch, 2nd touch etc...

We have to remember that this strategy is based in trading with the Trend of the Moment, you post about it a while ago I think (if no never mind). That means EU can start the day with a bearish trend and by NY open it might turn around cross 35/50 MA's and start trending up, at that time we'll start looking for long "by the rules" oportunities, that might include the first touch of 10 EMA by PA. Following the rules just tilts the odds of me getting into a real bullish trend of the moment and not just a correction of the previous bearish trend...

I hope this helps, you can also go back in your EU chart and watch PA behaviour near the MA's and spot the first, second, etc touches of the 10 EMA everytime PA places above / beyond 35/50 MAs

EDIT: just read your post final line, I can tell you I haven't read anything regarding that way of resetting the count, I might have to take a look at the manual or past posts to check that; or maybe someone with more experience could guide us. At the moment I count touches as I explained above...
Flp. 4:13
Hello guys, I'm an experienced user with mt4 but apparently on a live platform, alpari, i cannot use any script like the one have been posted recently for placing the trade with a predetermined stop and tp. I receive "error 129" or they simply don't work.
Also I'd like to know if anyone is using a script, the same as we use with the simulator, that is able to drag the stop directly on the chart and able to move the dotted red line with our mouse. This is so important to use but apparently it is not working on the live platform, at least with me. It works though, as I said, on the simulator we use to understand how to trade the dance on mt4.

Any suggestion from the community?
Thanks
Max
Quoting iero4
Whenever it's been a while since I saw you here last time. I hope you are doing well.

What I have noticed in this kind of setups is that almost always the second lower high forms above the 35/50 for shorts and below for longs. In addition, what makes me feel more comfortable in these setups is the H1 diverging 35/50s. So, look at the circled area that you pointed and then look at the equivalent H1 area and then look at the equivalent H1 area where I entered...

Don't you think that in "my area" 35/50s are diverging more? So, the bigger the...

Hi Dear,

I am ok, thank you.
I just wish I could have more time for trading and for posting.
I hope you are doing great too.

Thank you for your explanation about H1.
Sure, watching I agree that their divergence is a key to higher % of edge.
I'll look at that too now.

I took Gbp/ Usd too.
See below.

+15 on GU
+12 on EU

Closed happy to have achieved so quickly the daily target, together with Eur/Jpy (same time), closed the MT4 and full immersion into the work....

I'll try to have a look at the charts in our European evening from home, in the hope to may trade with full concentration...but I guess that the price at that time will not much faster Dance than what my grand-grand mother could do...

Thanks again.
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Quoting Konata
Then I guess the next silly question is, when does the count 'reset'?
As in, under what circumstance does a 10 EMA 'touch' be back to '1st touch' and '2nd touch'?
That's a difficult question and the answer is never going to be clear. An easy answer would be to reset the counter when the 5EMA crosses the 10EMA, but there are cases like the one below where you must reset the counter even if the 5EMA doesn't cross the 10EMA. In such cases you just watch the trade fading and you reset the counter when the distance between the 5EMA and the 10EMA becomes approximately what it was when the trend started. In most cases "we just see it", but trying to code it made me look for more clearly expressed criteria.
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The script for the simulator cannot be trade live, it's only for record keeping during simulation.

You can use the following scripts developed by Sangme. Very reliable I have tested. I believe Kostas1 is also using it.

http://www.forexfactory.com/showthread.php?t=281772


Quoting dorellino
Hello guys, I'm an experienced user with mt4 but apparently on a live platform, alpari, i cannot use any script like the one have been posted recently for placing the trade with a predetermined stop and tp. I receive "error 129" or they simply don't work.
Also I'd like to know if anyone is using a script, the same as we use with the simulator, that is able to drag the stop directly on the chart and able to move the dotted red line with our mouse. This is so important to use but apparently it is not working on the live platform, at least with...
Quoting micmic
Similar setup happening now in AUDUSD
hello m8, i want to ask if you have a statistic of what currency crosses get the higher % of signals.
even if not exaxt, a rough list would do just fine if you can post it.
thank you, and keep it up
There is one thing I notice, if I aim to get X amount of pips a day I start feeling impatient to enter trades. It also affect the way I exit and manage the trade.

However if I make a point to take every "by the rule" dance trade within a certain time of the day I usually pull off good trades.

PS: Aside: I am now managing my AUDUSD touch trade.......
Riding the order flow
If you are more comfortable to have standard entry style more than a standard daily target, you may consider using a weekly target instead of daily target with the idea that the average weekly setup frequency is more stable than the average daily setup frequency.

Quoting Binyamin
There is one thing I notice, if I aim to get X amount of pips a day I start feeling impatient to enter trades. It also affect the way I exit and manage the trade.

However if I make a point to take every "by the rule" dance trade within a certain time of the day I usually pull off good trades.

PS: Aside: I am now managing my AUDUSD touch trade.......
PS: Seem you are having a winner!
Quoting kk007
PS: Seem you are having a winner!
It was once up 10 pip, it came right down and took out my +2 pip stoploss. I did not reenter the second time because by then the MA's angle is not steep enough. But yes a 2 pip winner! lol
Riding the order flow
Hi all.

Just curious as to why this trade may not have worked out?

Its a M15 EURUSD chart.

From what I can see, it satisfies the Two Bar Rule and the 10 EMA was at a decent angle. It also moved 15p down before it bounce up to the 10 EMA.

Maybe I'm missing something or I misinterpreted the rules based on the chart.

Thanks in advance.

http://my.jetscreenshot.com/demo/20110728-iqog-45kb.jpg
Quoting Konata
Hi all.

Just curious as to why this trade may not have worked out?

Its a M15 EURUSD chart.

From what I can see, it satisfies the Two Bar Rule and the 10 EMA was at a decent angle. It also moved 15p down before it bounce up to the 10 EMA.

Maybe I'm missing something or I misinterpreted the rules based on the chart.

Thanks in advance.
Hi, I think this is not in the manual(correct me if I am wrong), A lot of us here have a rule that we don't enter 10EMA touch trades if the 35/50 MA does not have a steep angle and the lines are not parallel.

And that is the case right now.
Riding the order flow
Quoting Binyamin
Hi, I think this is not in the manual(correct me if I am wrong), A lot of us here have a rule that we don't enter 10EMA touch trades if the 35/50 MA does not have a steep angle and the lines are not parallel.

And that is the case right now.
Ah I see..

Thank you!

Well, I have the rule book open all the time till it sinks into my head like 2nd nature. In regards to the 35/50 MA having to be at a steep angle and parallel is only stated for 35/50 MA bounces.

“Touch Trades” off the 35 SMA and 50 EMA are also very easy to see but MUST be taken ONLY if the EMAs are parallel (the closer the better, or “on top” of each other) and at a steep angle, ... " - The_Simple_Dance.pdf rulebook
Quoting Konata
Ah I see..

Thank you!

Well, I have the rule book open all the time till it sinks into my head like 2nd nature. In regards to the 35/50 MA having to be at a steep angle and parallel is only stated for 35/50 MA bounces.

“Touch Trades” off the 35 SMA and 50 EMA are also very easy to see but MUST be taken ONLY if the EMAs are parallel (the closer the better, or “on top” of each other) and at a steep angle, ... " - The_Simple_Dance.pdf rulebook
The rule book is a guildline at best, since this strat is not mechanical you really need some competency in intepreting the market. To better identify good trades and understand the marker, playing with the simulator would be a good step.
Riding the order flow
Quoting Binyamin
There is one thing I notice, if I aim to get X amount of pips a day I start feeling impatient to enter trades. It also affect the way I exit and manage the trade.
My suggestion: Forget about daily target and focus on pulling the good trades. The pips will come as a byproduct.....
Quoting Konata
Ah I see..

Thank you!

Well, I have the rule book open all the time till it sinks into my head like 2nd nature. In regards to the 35/50 MA having to be at a steep angle and parallel is only stated for 35/50 MA bounces.

“Touch Trades” off the 35 SMA and 50 EMA are also very easy to see but MUST be taken ONLY if the EMAs are parallel (the closer the better, or “on top” of each other) and at a steep angle, ... " - The_Simple_Dance.pdf rulebook
I would say about that trade though, it was taken at a very bad time of day/night, at that time Asia has usually had their run and usually consolidates for a while until another market opens or news etc, just my opinion from what I've seen.
Quoting kostas1
My suggestion: Forget about daily target and focus on pulling the good trades. The pips will come as a byproduct.....
Well said =)
Riding the order flow
Yikes a good 35 touch trade has just occurred in GY, it happened so fast and I miss it. I hope some of you caught it.
Riding the order flow
Kostas (and others) are you guys still using this chart setup from this post?

http://www.forexfactory.com/showthre...76#post4396076

It looks like chart setups have changed/evolved over time and I want to get mine up to date to match with your setups. But I can't find a post where the whole setup is listed. I just need to know what indis on your charts and why they are there. Thanks!
Luck occurs when preparation meets with opportunity.
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