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CHOROS System

  • #5,801
  • Jul 28, 2011 5:48am Jul 28, 2011 5:48am
Quoting AlienFrog
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!
I use Sangmane's "Easy Order" instead of the luktom visual editor.
  • #5,802
  • Jul 28, 2011 5:57am Jul 28, 2011 5:57am
Quoting kostas1
I use Sangmane's "Easy Order" instead of the luktom visual editor.
Kostas, I'm actually looking for the indis you use on your chart setup. I can't place trades in MT4 yet. I only use MT4 for analysis, then place trades through Oanda's Java platform.
Luck occurs when preparation meets with opportunity.
  • #5,803
  • Jul 28, 2011 6:08am Jul 28, 2011 6:08am
Quoting AlienFrog
Kostas, I'm actually looking for the indis you use on your chart setup. I can't place trades in MT4 yet. I only use MT4 for analysis, then place trades through Oanda's Java platform.
I am using the same MAs, except for adding EMA23 in M5. I found good use for it on EU doing some scalps.
  • #5,804
  • Jul 28, 2011 6:22am Jul 28, 2011 6:22am
M15.E10 is too far away, shorted EUR @ 1.43000 (M5.E10, Daily S1, RN, Fibo 61.8) for +16pip
  • #5,805
  • Jul 28, 2011 7:08am Jul 28, 2011 7:08am
Quoting kk007
M15.E10 is too far away, shorted EUR @ 1.43000 (M5.E10, Daily S1, RN, Fibo 61.8) for +16pip

Good call there!
  • #5,806
  • Jul 28, 2011 7:26am Jul 28, 2011 7:26am
Quoting kk007
M15.E10 is too far away, shorted EUR @ 1.43000 (M5.E10, Daily S1, RN, Fibo 61.8) for +16pip
Nice one !
Well done.

I was tempted to take this H1 First Touch + Round Number but did not because:

1) I was already over the daily target...do not tempt Mr. Greedy..
2) I was thinking the price could have tested the Daily + Weekly Pivots just a bit over the Round Number.

Instead of it, the price touched at the pip the Round Number and felt down all the way...
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  • #5,807
  • Jul 28, 2011 7:46am Jul 28, 2011 7:46am
I’m sorry for showing off , but feel good ; I feel that I’m starting to understand.

This thread and mostly Kostas1 and Survivor posts helped a lot.

I made this call yesterday at the CHOROS Interactive thread http://www.forexfactory.com/showthre...12#post4814612 and the price bounced exactly in the box where I expected to bounce. Of course I chikened out after the first +20p, but as we can see today, it went around 70 pips up.

Thank you for sharing your knowledge Kostas1 .
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  • #5,808
  • Jul 28, 2011 7:52am Jul 28, 2011 7:52am
Quoting Haydel
I’m sorry for showing off , but feel good ; I feel that I’m starting to understand.

This thread and mostly Kostas1 and Survivor posts helped a lot.

I made this call yesterday at the CHOROS Interactive thread http://www.forexfactory.com/showthre...12#post4814612 and the price bounced exactly in the box where I expected to bounce. Of course I chikened out after the first +20p, but as we can see today, it went around 70 pips up.

Thank you for sharing your knowledge Kostas1 .

Bingo, Man !

It seems you are going to Dance very well !
  • #5,809
  • Jul 28, 2011 9:15am Jul 28, 2011 9:15am
Quoting Haydel
I’m sorry for showing off , but feel good ; I feel that I’m starting to understand.

This thread and mostly Kostas1 and Survivor posts helped a lot.

I made this call yesterday at the CHOROS Interactive thread http://www.forexfactory.com/showthre...12#post4814612 and the price bounced exactly in the box where I expected to bounce. Of course I chikened out after the first +20p, but as we can see today, it went around 70 pips up.

Thank you for sharing your knowledge Kostas1 .

Move your cursor on the man.....
Attached Image
  • #5,810
  • Jul 28, 2011 9:46am Jul 28, 2011 9:46am
Quoting kostas1
Move your cursor on the man.....
Ja ja ja !!!
  • #5,811
  • Jul 28, 2011 9:57am Jul 28, 2011 9:57am
Quoting neomn
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
Thank you neomn, that is a killing script and I really appreciate your help.
Regards
Max
  • #5,812
  • Jul 28, 2011 10:50am Jul 28, 2011 10:50am
Quoting asos101
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

Too early for this. Only the other day I coded the functions that will record each signal in a file, together with details about it and whether it would have been a win or a loss. But now I have to finalize the scoring system in order to start getting any meaningful statistics. The price action system is also in place now and it is possible for the program to wait for price confirmation before giving a signal. It detects double top/bottoms, pinbars, OEBs, hammers, or simple price reversals at swing top or bottoms, in all timeframes.

The most important change I am about to make is alter the way that the trend affects the quality of the signal. I tend to believe that trying to jump on a very fast moving train is almost as dangerous as standing on its way. So, instead of increasing the signal quality as the 10EMA slope increases, I will probably consider as the best signal the one where the 50, the 35 and the 10 are almost parallel. Actually this is what the 2-bar touch rule accomplishes: It makes sure that the 10EMA is not too steep at the moment of the trade, avoiding the uncertainty of explosive retracements.
  • #5,813
  • Jul 28, 2011 11:49am Jul 28, 2011 11:49am
Quoting micmic
It detects double top/bottoms, pinbars, OEBs, hammers, or simple price reversals at swing top or bottoms, in all timeframes.
This seems like a nice feature mate, I'm a complete coding ignorant so I can't even figure how you did this, but it seems a whole lot of work...

Quoting micmic
The most important change I am about to make is alter the way that the trend affects the quality of the signal. I tend to believe that trying to jump on a very fast moving train is almost as dangerous as standing on its way. So, instead of increasing the signal quality as the 10EMA slope increases, I will probably consider as the best signal the one where the 50, the 35 and the 10 are almost parallel. Actually this is what the 2-bar touch rule accomplishes: It makes sure that the 10EMA is not too steep at the moment of the trade, avoiding the uncertainty...
This is so right, there are some times when an explosive retracement makes 10EMA really steep, but this won't make a touch trade from it valid, but more risky than what we might want, this happens a lot when PA crosses 35/50 and we might be looking at a big retracement or a Trend of the Moment change...
Flp. 4:13
  • #5,814
  • Jul 28, 2011 12:29pm Jul 28, 2011 12:29pm
Quoting Anthar
This is so right, there are some times when an explosive retracement makes 10EMA really steep, but this won't make a touch trade from it valid, but more risky than what we might want, this happens a lot when PA crosses 35/50 and we might be looking at a big retracement or a Trend of the Moment change...
In steep EMA 10 you can try M15 EMA5 for multiple scalps. Not traditional CHOROS, but I had good success with that. Of course, you need to be quick since many times the EMA5 touch happens barely or appears after the close. In any case, taking 8-10 pips per touch is not bad. Practice in DEMO first....
  • #5,815
  • Jul 28, 2011 12:36pm Jul 28, 2011 12:36pm
Quoting kostas1
In steep EMA 10 you can try M15 EMA5 for multiple scalps. Not traditional CHOROS, but I had good success with that. Of course, you need to be quick since many times the EMA5 touch happens barely or appears after the close. In any case, taking 8-10 pips per touch is not bad. Practice in DEMO first....
Sure, thanks for the tip Kostas, I set the EMA5 on my M15 like 2 weeks ago so I could start watching how PA reacts to it in quick trending moves and get used to it first... I will start practicing with it on demo now
Flp. 4:13
  • #5,816
  • Jul 28, 2011 12:46pm Jul 28, 2011 12:46pm
Au touch trade with 35/50 converging and daily pivot, room for a small scalp perhaps...
Attached Image (click to enlarge)
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Flp. 4:13
  • #5,817
  • Jul 28, 2011 1:27pm Jul 28, 2011 1:27pm
So this trade was good for a small scalp... I don't like that Monthly Level / RN
so TP was the middle of those levels... good for 11 pips
Attached Image (click to enlarge)
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Flp. 4:13
  • #5,818
  • Jul 29, 2011 3:22am Jul 29, 2011 3:22am
Quoting kostas1
In steep EMA 10 you can try M15 EMA5 for multiple scalps. Not traditional CHOROS, but I had good success with that. Of course, you need to be quick since many times the EMA5 touch happens barely or appears after the close. In any case, taking 8-10 pips per touch is not bad. Practice in DEMO first....
I noticed that on strong fast moves the Dance works quite well on M5.
Or even M1, but a bit quick action is requested there.

So when I happen to see a strong move on M15 I start focusing first more on M5.
  • #5,819
  • Jul 29, 2011 3:29am Jul 29, 2011 3:29am
Quoting micmic
So, instead of increasing the signal quality as the 10EMA slope increases, I will probably consider as the best signal the one where the 50, the 35 and the 10 are almost parallel. Actually this is what the 2-bar touch rule accomplishes: It makes sure that the 10EMA is not too steep at the moment of the trade, avoiding the uncertainty of explosive retracements.
First of all: I think you are doing a great Job there, I am very interested in the final outcoming.

Second, I wanted to agree with your words.
Parallel 35/50 mean a longer, constant move in a direction.

The EMA10 is a small child, who can very quickly run.
But the faster it runs, the earliest is stops on a side and cannot breath anymore for some seconds
(I guess we all have done that at least once )

That is by some news release, and they can be dangerous.
  • #5,820
  • Jul 29, 2011 5:02am Jul 29, 2011 5:02am
Quoting micmic
So, instead of increasing the signal quality as the 10EMA slope increases, I will probably consider as the best signal the one where the 50, the 35 and the 10 are almost parallel. Actually this is what the 2-bar touch rule accomplishes: It makes sure that the 10EMA is not too steep at the moment of the trade, avoiding the uncertainty of explosive retracements.
I'm also very interested to see this if you decide to release it. I'm not ready to let a computer trade my account, but I see it as a fantastic training tool. It would help as confirmation that a setup does meet the rules, which in turn would help with discipline to stay away from bad setups. Excellent work!
Luck occurs when preparation meets with opportunity.
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