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CHOROS System

  • #5,821
  • Jul 29, 2011 5:07am Jul 29, 2011 5:07am
Hi all,

I was wondering if this was a valid waiting area?

1. M15's 35/50EMA are close together
2. It touched with H1 10EMA and H4 5EMA

I'm still learning as I go..

Thanks.

http://my.jetscreenshot.com/demo/201...dlvv-199kb.jpg
  • #5,822
  • Jul 29, 2011 5:12am Jul 29, 2011 5:12am
Quoting AlienFrog
I'm not ready to let a computer trade my account.
Me too and I think I will never be...Personaly I trust more my mind rather my pc. Of course the job of micmic is excellent and looks like we have a hard worker in the dance/choros team
You are allowed to fall but you are imposed to get up!
  • #5,823
  • Jul 29, 2011 5:41am Jul 29, 2011 5:41am
Quoting Konata
Hi all,

I was wondering if this was a valid waiting area?

1. M15's 35/50EMA are close together
2. It touched with H1 10EMA and H4 5EMA

I'm still learning as I go..

Thanks.
M15 looks too choppy, no signals at all. Higher TFs in your chart look like MA touches have already occurred, and even those would have broken the 2-bar rule.
Luck occurs when preparation meets with opportunity.
  • #5,824
  • Jul 29, 2011 5:49am Jul 29, 2011 5:49am
Hie.

I thought the H1 was valid touch because it was still within 1 bar?

I just noticed the drop as well... @_@
I didnt enter cause it didnt touch my M15 35/50EMA...
Was a 50p drop too...
  • #5,825
  • Jul 29, 2011 6:03am Jul 29, 2011 6:03am
Quoting Konata
Hie.

I thought the H1 was valid touch because it was still within 1 bar?

I just noticed the drop as well... @_@
I didnt enter cause it didnt touch my M15 35/50EMA...
Was a 50p drop too...
Konata, yes, but the last two H1 bars were indecisive. The downtrend stopped 3 bars befoe. For a 10 touch you are basically looking for a correction move in a strong trend. Others more experienced can probably explain better.
Luck occurs when preparation meets with opportunity.
  • #5,826
  • Jul 29, 2011 6:15am Jul 29, 2011 6:15am
Quoting AlienFrog
Konata, yes, but the last two H1 bars were indecisive. The downtrend stopped 3 bars befoe. For a 10 touch you are basically looking for a correction move in a strong trend. Others more experienced can probably explain better.
Perhaps its not really a touch trade, but more of a 'Constrainment' trade?
Would that validate what I see based on constrainment rules?

Because the way I saw it, was that:

1. H1 were downtrend on all MAs.
2. H1 PA were following the 10EMA.
3. H1 Touch occured.
4. RN area.


But I can also understand where you are coming from that the trend is over because of the Doji on H1.

Maybe a little help...
  • #5,827
  • Jul 29, 2011 6:20am Jul 29, 2011 6:20am
Quoting Konata
Hi all,

I was wondering if this was a valid waiting area?

1. M15's 35/50EMA are close together
2. It touched with H1 10EMA and H4 5EMA

I'm still learning as I go..

Thanks.
I would have taken the trade as a H1 10EMA touch, I see nothing wrong with it. since 35/50 is steep I would have waited for a 35/50 touch entry as you suggest. I also see NO constrainment setup in your chart, there weren't any exhaustion bars....
Riding the order flow
  • #5,828
  • Jul 29, 2011 7:48am Jul 29, 2011 7:48am
What is going on with USD?
Riding the order flow
  • #5,829
  • Jul 29, 2011 8:01am Jul 29, 2011 8:01am
News release:-

1.) Advance GDP q/q
2.) Advance GDP Price Index q/q
3.) Employment Cost Index q/q

And also a serious case of bend over and grab yer ankles on account of the debt ceiling crisis. Failure of the Republicans to even vote among themselves last nite as to what they want to go forward with (as the overall plan) has the market spooked.
  • #5,830
  • Jul 29, 2011 8:08am Jul 29, 2011 8:08am
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....

Took this beauty today based on the M5 EMA5 due to strong news-related action. Target was at H1 62 for +70pips (full lot size by the way). I guess it's more of scooping-up trade and definitely not by-the-rules.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 105 KB
  • #5,831
  • Jul 29, 2011 11:12am Jul 29, 2011 11:12am
Quoting kostas1
Took this beauty today based on the M5 EMA5 due to strong news-related action. Target was at H1 62 for +70pips (full lot size by the way). I guess it's more of scooping-up trade and definitely not by-the-rules.
WOOSH! Congrats! Ok I am going to start learning to use pivots. Thanks for sharing!! Feel free to brag too it is really encouraging!

Aside: Today is another good day. Who say Fridays are bad?!
Riding the order flow
  • #5,832
  • Jul 29, 2011 11:26am Jul 29, 2011 11:26am
Quoting Binyamin
WOOSH! Congrats! Ok I am going to start learning to use pivots. Thanks for sharing!! Feel free to brag too it is really encouraging!

Aside: Today is another good day. Who say Fridays are bad?!
Mate! How good is it? How many easy by-the-rule trades taken?
  • #5,833
  • Jul 30, 2011 8:23pm Jul 30, 2011 8:23pm
Quoting kk007
Mate! How good is it? How many easy by-the-rule trades taken?
By the rule trades are also pretty profitable and consistent.
Riding the order flow
  • #5,834
  • Aug 1, 2011 4:56am Aug 1, 2011 4:56am
There were few great touch trades that happened today, I think....

Unfortunately, I still have a problem sticking to the plan. *SIGH*

Anyways, here they are...

1. Not a very good entry by the book because it breaks the 2-candle rule. It took 4 candles to get there. But it may be a valid entry on the pin close because it closes above the 35EMA, making is a support line.

2. Best entry because it is support by the above statement (1) as 35EMA is the support bounce. Also, it is supported by H1 as it bounces off the 10EMA (circle number 4).

3. Possible re-entry for long as it dips to bounce off the 10EMA. 35/50 EMA were also pointed up steeply.

5. Last but not least, as boxed up in H1, it shows constrainment on the 10EMA.


Hopefully I'm right about this. Just thought I post it up, plus I could get people to comment about my analysis, so that I can get more accurate readings.

Thanks!


http://3.bp.blogspot.com/-M6raxNL4K0...+Australia.jpg
  • #5,835
  • Aug 1, 2011 6:33am Aug 1, 2011 6:33am
As far as I understand,

1 is a by-the-rule trade (I took it too)
2 is a second touch of S35, because of this, no sure if it is by-the-rule
3 is a 1-bar retracement, is not by-the-rule
4 is used with 1
5 is not a H1.E10 constrainment trade I think because bar is too long.


Quoting Konata
There were few great touch trades that happened today, I think....

Unfortunately, I still have a problem sticking to the plan. *SIGH*

Anyways, here they are...

1. Not a very good entry by the book because it breaks the 2-candle rule. It took 4 candles to get there. But it may be a valid entry on the pin close because it closes above the 35EMA, making is a support line.

2. Best entry because it is support by the above statement (1) as 35EMA is the support bounce. Also, it is supported by H1 as it bounces off the 10EMA (circle number 4).

3. Possible...
  • #5,836
  • Aug 1, 2011 6:39am Aug 1, 2011 6:39am
I hate to have to write it here because it is after the fact! There was a EURCHF touch trade off the 10EMA 15M that just net me 60 pips. And it happened so fast. All the 35/50 MA for all timeframe were right!

I entered the EURUSD touch you pointed out in the previous image, 1 of it was about 12 pips, the other is break even....... and I missed the final one that would have been a jackpot. But so what, next. Following the rules to the T works. There will be lots of BE and small pip profit but when those big ones come, that is when I have to press on to my winners. Hope I have encouraged somewhat
Riding the order flow
  • #5,837
  • Aug 1, 2011 6:56am Aug 1, 2011 6:56am
Thank for the clarification.

Yea, I agree that its 'after the fact' that it happened, but sorry to say I'm still learning, and correcting what i see and analyse would improve my entry and exit in the future.

^_^
  • #5,838
  • Aug 1, 2011 6:57am Aug 1, 2011 6:57am
During the weekend I finalized the conversion of the program to an EA so that I can now do some backtesting. There are no trades yet, just signals recorded in an Excel file together with their details and whether they would be wins or losses. While I was doing the first tests, I noticed something very peculiar. A pattern of very frequent losses in a situation that I was expecting would be a win. As we know, such a pattern is equally useful to a winning one because if it is consistent one can simply reverse the direction of the trade.

At first I thought that I had something wrong with the spread, but it was ok. Then I thought it should be a programming mistake but found nothing. I made the same test with different pairs, but only one pair showed this behaviour. I backtested it with tick data for 3 years, and it showed a consistent losing pattern of about 85% which is amazing. Even then I wasn't convinced so I looked myself at as many trades as I could, even using charts from different brokers. I couldn't find a single mistake.

So now I am really preoccupied with this because if it is true it will be simply fantastic. There was an average of 4 trades per day for this pattern, each for an average sl/tp of 20 pips. If I reverse the direction of the trades, and if 3 are wins and one is a loser, this will mean a totally mechanical way of getting an average of 40 pips per day. But I'm not saying anything more because I still am not convinced it is true, an 85% rate over the course of 3 years is too much for a computer program. However I don't know what else to do in order to find the mistake, I think I have done everything possible.

We'll see...
  • #5,839
  • Aug 1, 2011 7:49am Aug 1, 2011 7:49am
Quoting micmic
But I'm not saying anything more because I still am not convinced it is true, an 85% rate over the course of 3 years is too much for a computer program. However I don't know what else to do in order to find the mistake, I think I have done everything possible.

We'll see...
Ah, the wonders of EA. Good job and I think most of us appreciate your feedback on your EA.
Riding the order flow
  • #5,840
  • Aug 1, 2011 7:59am Aug 1, 2011 7:59am
There is a Greek movie about an accountant in a similar situation, Kostas will know about it. 1,101,101.10... He could not find the mistake so he ended up seizing the money. However the mistake was finally found
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