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CHOROS System

  • #5,861
  • Aug 2, 2011 9:02am Aug 2, 2011 9:02am
Ok lets post some trades guys to keep the thread usefull and alive...

Here is my last trade for today, it is a cross and retest trade as you can see and ended up with + 22.2 pips! Not bad at all

Attached Image (click to enlarge)
Click to Enlarge Name: Χωρίς τίτλο.jpg Size: 272 KB
You are allowed to fall but you are imposed to get up!
  • #5,862
  • Aug 2, 2011 9:54am Aug 2, 2011 9:54am
Sorry if this sounds a naive question: Is this "cross and reteset" the same as what other called "scooped up" trade?

Quoting iero4
Ok lets post some trades guys to keep the thread usefull and alive...

Here is my last trade for today, it is a cross and retest trade as you can see and ended up with + 22.2 pips! Not bad at all

Attachment
  • #5,863
  • Aug 2, 2011 10:03am Aug 2, 2011 10:03am
Quoting iero4
Ok lets post some trades guys to keep the thread usefull and alive...

Here is my last trade for today, it is a cross and retest trade as you can see and ended up with + 22.2 pips! Not bad at all

Attachment
I totally agreewith you iero, I don't post at the interactive, but perhaps we could post some after the fact here.

UCad m15 35/50 touch trade:
Reasons: Confluence m15 35/50 H1 10ma
35/50 converging
By the rules 2 bar retracement to H1 10ma

Cons: Multi bar retracement to m15 35/50
10ma seemed to be scooping PA down
Exit at 10 ma +12 pips, although the trade would've been good for much more.
Attached Image (click to enlarge)
Click to Enlarge Name: Ucad_3550touch.jpg Size: 105 KB
Flp. 4:13
  • #5,864
  • Aug 2, 2011 10:11am Aug 2, 2011 10:11am
Quoting kk007
Sorry if this sounds a naive question: Is this "cross and reteset" the same as what other called "scooped up" trade?
I'm not an expert on scoop ups, but I think it's different from a cross and retest, this is what I understand of each:

A scoop up trade is when PA starts to come up and can't close below 10 ma, so it eventually crosses 35/50 and closes above them. So a scoop up trade would be taken before the cross of the 35/50 in the expectance that PA will cross them and go higher.

A cross and retest, as its name says is taken after the price has broken through 35/50, then you'll wait for a retest of this levels (remember we use this MA's as dynamic S/R) and at this point of the retest you enter the trade in the direction of the cross...

I hope I made myself clear and this helps you... have a great week mate!
Flp. 4:13
  • #5,865
  • Aug 2, 2011 10:40am Aug 2, 2011 10:40am
Thanks a lot for clarification. I think I will not trade these types of setup at this stage, and instead concentrate on what I have been concentrating on.

Quoting Anthar
I'm not an expert on scoop ups, but I think it's different from a cross and retest, this is what I understand of each:

A scoop up trade is when PA starts to come up and can't close below 10 ma, so it eventually crosses 35/50 and closes above them. So a scoop up trade would be taken before the cross of the 35/50 in the expectance that PA will cross them and go higher.

A cross and retest, as its name says is taken after the price has broken through 35/50, then you'll wait for a retest of this levels (remember we use this MA's as dynamic...
  • #5,866
  • Aug 2, 2011 10:45am Aug 2, 2011 10:45am
Quoting kk007
Thanks a lot for clarification. I think I will not trade these types of setup at this stage, and instead concentrate on what I have been concentrating on.
Riding the order flow
  • #5,867
  • Aug 2, 2011 10:56am Aug 2, 2011 10:56am
Woah another good day. Time to step up my position size. I wonder if there were any period in the last say 10 years where the rule of the dance just wasn't pulling decent pips for say a month or a week.

How many here obey the rule where you only trade the pair whos market is open?

Anyway I am happy to see people making decent pips too.
Riding the order flow
  • #5,868
  • Aug 2, 2011 11:36am Aug 2, 2011 11:36am
Quoting Binyamin
Woah another good day. Time to step up my position size. I wonder if there were any period in the last say 10 years where the rule of the dance just wasn't pulling decent pips for say a month or a week.

How many here obey the rule where you only trade the pair whos market is open?

Anyway I am happy to see people making decent pips too.
I read somwhere in the thread that August 2010 was a lil bit crazy, but nothing more
Flp. 4:13
  • #5,869
  • Aug 2, 2011 11:58am Aug 2, 2011 11:58am
Thanks Anthar, Just an update, CHF and JPY is still gaining today. I think there is something bad going on. There seems to be a sudden flight to safety. I will be trading CHF pairs actively!
Riding the order flow
  • #5,870
  • Aug 2, 2011 12:24pm Aug 2, 2011 12:24pm
Quoting Anthar
I'm not an expert on scoop ups, but I think it's different from a cross and retest, this is what I understand of each:

A scoop up trade is when PA starts to come up and can't close below 10 ma, so it eventually crosses 35/50 and closes above them. So a scoop up trade would be taken before the cross of the 35/50 in the expectance that PA will cross them and go higher.

A cross and retest, as its name says is taken after the price has broken through 35/50, then you'll wait for a retest of this levels (remember we use this MA's as dynamic...
Anthar answered for me...He covered everything
You are allowed to fall but you are imposed to get up!
  • #5,871
  • Aug 2, 2011 12:27pm Aug 2, 2011 12:27pm
Quoting Binyamin
Thanks Anthar, Just an update, CHF and JPY is still gaining today. I think there is something bad going on. There seems to be a sudden flight to safety. I will be trading CHF pairs actively!
You're right Bin... a nice setup just happened for USDJPY...
m15 10ma touch in confluence with m5 35/50 touch...
PA had been sideways for a bit before this happened so it's hard to consider a number of bars to the touch of the MA

Are you currently just trading choros? or u still trade your mechanical methods?
Attached Image (click to enlarge)
Click to Enlarge Name: UJ_m15MA10_m5MA50.jpg Size: 109 KB
Flp. 4:13
  • #5,872
  • Aug 2, 2011 1:39pm Aug 2, 2011 1:39pm
Dont usually trade at this hours, but this is all demo so...

EU m15 35/50 touch in confluence with H1 10ma

35/50 are not steep in any way, but considering this an H1 10ma touch trade fine tunning the entry on the M15 TF, taking 35/50 touch as additional confirmation.
Attached Image (click to enlarge)
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Flp. 4:13
  • #5,873
  • Aug 2, 2011 2:33pm Aug 2, 2011 2:33pm
Hi friends,

Due to repeated requests from friends i am posting my somewhat unrefined version of my system here- http://www.forexfactory.com/showthread.php?t=307381

Request you all and especially kostas, the master of price action trading, to take a look and provide feedback.

lets keep these two threads separate and clean

Cheers.
Making money is easy- Just dont take losing trades
  • #5,874
  • Aug 2, 2011 2:36pm Aug 2, 2011 2:36pm
Quoting Anthar
Dont usually trade at this hours, but this is all demo so...

EU m15 35/50 touch in confluence with H1 10ma

35/50 are not steep in any way, but considering this an H1 10ma touch trade fine tunning the entry on the M15 TF, taking 35/50 touch as additional confirmation.
Nice catch Anthar, it seems that CHOROS also work with only one open market. Obviously we have to be very picky at these hours.
  • #5,875
  • Aug 2, 2011 9:47pm Aug 2, 2011 9:47pm
Quoting Anthar

Are you currently just trading choros? or u still trade your mechanical methods?
I am currently trading both choros and 2 mechanical methods.
Riding the order flow
  • #5,876
  • Aug 3, 2011 3:55am Aug 3, 2011 3:55am
Just and observation: I notice recently with the fast moving market that 5EMA is quite effective for constrainment trades.
Riding the order flow
  • #5,877
  • Aug 3, 2011 10:22am Aug 3, 2011 10:22am
Quoting Binyamin
Just and observation: I notice recently with the fast moving market that 5EMA is quite effective for constrainment trades.
I'd really appreciate if you could post an example of this if you have any spare time, I'm not that good at spotting constrainment trades just yet...
But I've been using 5EMA for touch trades on fast moving markets quite well
Flp. 4:13
  • #5,878
  • Aug 3, 2011 5:03pm Aug 3, 2011 5:03pm
Could this be considered as a constrainment trade / setup ???
Attached Image (click to enlarge)
Click to Enlarge Name: EU_possconstr.jpg Size: 132 KB
Flp. 4:13
  • #5,879
  • Aug 4, 2011 1:54am Aug 4, 2011 1:54am
Quoting Anthar
Could this be considered as a constrainment trade / setup ???
This trade was the difinition of constrainment
You are allowed to fall but you are imposed to get up!
  • #5,880
  • Edited 2:27am Aug 4, 2011 2:14am | Edited 2:27am
Hi,

I have checked the Dance manual and found that eclayf took trades even when M15 35/50 is flat and he even shorted when 35/50 was going up and not aligned rightly. They are trade 4, 5 and 12 in the example series of the manual.

If anyone you trade in a similar way, please explain a bit!!!!

Many thanks

kk007

P.S. And he didn't even follow 2-bar retracement rule in the 2nd chart below....
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