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CHOROS System

  • #5,921
  • Aug 11, 2011 12:34pm Aug 11, 2011 12:34pm
Quoting Haydel
I do not want to show off, please consider this as sharing information for our benefit, but this week was good for me.

This week on Monday, my first trade was a looser but after that one until yesterday I had 5 winners and 2 BE (One lucky trade included). All days ended with profits.

Today I had 2 wins and 3 losses, the good thing was that the losses where controlled and the winners where bigger meaning that today ended with a little profit too but I stopped for the day after those three losses.

This week my account has grown 14.5% so Iīm...
It's ok for you to show off if your acct. is 14.5% up for the WEEK... I know you're using proper MM also... that being said thanks a lot for your post mate, it really helps me right now... today I had a shitty day at the market

I'm taking it easy tho', can't let this kind of things affect us... so all we can do is get up, read good comments like yours up there, and prepare for tomorrow with a renewed spirit...

So good to have you and Bin in here for this past days... with asos and iero not around that much (missing their posts) and kostas on vacations...
Flp. 4:13
  • #5,922
  • Aug 11, 2011 3:05pm Aug 11, 2011 3:05pm
http://www.forexfactory.com/showthre...66#post4863766
  • #5,923
  • Aug 11, 2011 3:46pm Aug 11, 2011 3:46pm
Quoting kostas1
http://www.forexfactory.com/showthre...66#post4863766
Hi Kostas, good to hear from you and thank you for your trading reminders, even on vacations you canīt help helping us. That is really appreciated.

Have a safe trip back.
  • #5,924
  • Aug 12, 2011 12:12am Aug 12, 2011 12:12am
Quoting Binyamin
I have the impression from your post that MAs are not nearly as effective as an S or R as other ones like pivot etc.
Well, at the end of the day important is to find out where and why most traders act and in what direction: that's the reason of any trend move.

The most "levels" come together (Confluence) the most % probability we have to get into a move together with other trades.
So welcome S/R welcome Pivot, Fibo or whatever helps us to make money

BUT I just wanted to give a further input to your consideration, based on my personal point of view (therefore of course very subjective, so take it with the due care): try to start to look at the MAs as they would be actually moving S/R levels.

They are that, and move accordingly together with the trend.

Price can bounce of S/R levels (Touch trades) or can test and retest them before proceeding further (Constrainments).

I saw that price reacts to Dance/Choros MAs more times than not (if you keep in mind all the other rules of course).
That's why I feel confortable with this great Strategy.

(thanks again Jedi Masters Clay and Kostas)
  • #5,925
  • Aug 12, 2011 12:41am Aug 12, 2011 12:41am
Thanks Whenever, I got it. I haven't been paying any attention to pivot points and previous price action. Will be doing it going forward from now.
Riding the order flow
  • #5,926
  • Aug 12, 2011 4:31am Aug 12, 2011 4:31am
The swiss gov is pegging their currency to the Euro...... I wonder if that will mean that trading both Swiss and Euro won't make anymore sense.
Riding the order flow
  • #5,927
  • Aug 15, 2011 5:11am Aug 15, 2011 5:11am
Got my first 21p after vacation (always got to be extra careful after some time off the markets).
It was a bounce from GU M15 35/50 confluenced with WP around 1.6290. The M5 gave a nice rejection pinbar at 10:15GMT. I got long at the close of that bar. I am not sure if I will find an opportunity for another 10 since action looks very-very slow.....
  • #5,928
  • Aug 15, 2011 6:03am Aug 15, 2011 6:03am
Quoting kostas1
I am not sure if I will find an opportunity for another 10 since action looks very-very slow.....
Well as soon as I said that, the action stopped being slow. We should get good opportunities for long bounces now....
  • #5,929
  • Aug 15, 2011 6:07am Aug 15, 2011 6:07am
Quoting kostas1
Got my first 21p after vacation (always got to be extra careful after some time off the markets).
It was a bounce from GU M15 35/50 confluenced with WP around 1.6290. The M5 gave a nice rejection pinbar at 10:15GMT. I got long at the close of that bar. I am not sure if I will find an opportunity for another 10 since action looks very-very slow.....
Same here, I got +4 pip only (mainly because I needed to be away from my computer soon after entering).
Trading seems easier and easier now to me, after spending more and more hours real time on it. But it makes be very fatigue at this stage. I can't do it every day at the moment and taken some days off last week.
  • #5,930
  • Aug 15, 2011 6:16am Aug 15, 2011 6:16am
Quoting kk007
1. Trading seems easier and easier now to me, after spending more and more hours real time on it.
2. But it makes be very fatigue at this stage. I can't do it every day at the moment and taken some days off last week.
1. I am glad you reached this stage. It seems you were a hardcore non-believer (if I can judge from your very first posts) and you still had the patience to study and work with the markets. Good job my friend.

2. This is natural. I was there too and I am sure many others. You are doing the clever thing to take a few days off. ALWAYS stay away from the markets if you feel fatigued or have other personal issues to deal with. When you come back you will be refreshed and ready to rock.
  • #5,931
  • Edited 6:48am Aug 15, 2011 6:38am | Edited 6:48am
Quoting kostas1
1. I am glad you reached this stage. It seems you were a hardcore non-believer (if I can judge from your very first posts) and you still had the patience to study and work with the markets. Good job my friend.

2. This is natural. I was there too and I am sure many others. You are doing the clever thing to take a few days off. ALWAYS stay away from the markets if you feel fatigued or have other personal issues to deal with. When you come back you will be refreshed and ready to rock.
Thanks my friend kostas1. Honestly, I have spent thousands hours on trading. Most of my effort spent on making myself to believe it is possible (other problems look less strenuous). Even when I saw something happen again and again on chart, I found it hard to believe I can make money from it and unconciously refuse to take real-time trading seriously (and difficult to be confident and focused on learning). This thread (and Dance thread) really help me a lot I have to say. Thanks again.
  • #5,932
  • Aug 15, 2011 6:45am Aug 15, 2011 6:45am
Quoting Binyamin
I remember you started improving when Kostas post the cartoon of you machine gunning the market implying that your initial problem was not being selective enough. I find myself having that kind of tendency every now and then but I usually can control it because I recognize it everytime it happen.
I am still demo-trading and I am still taking trades which are substandard. I wouldn't recommend others to do so, because it is too easy to lose confidence in this way and just give up.

Nevertheless, when my faith in the edge of the method is strong, I find I learn a lot from taking less-than-perfect. And I found that when I spent enough screen time, I will be able differentiate between good and bad naturally. If I have to select only very good trade to begin with, I would be very stressful to spend my time on trading.
  • #5,933
  • Aug 15, 2011 9:28am Aug 15, 2011 9:28am
Hi guys, would you consider this a constrainment setup for a possible long?
Attached Image (click to enlarge)
Click to Enlarge Name: eu_const.jpg Size: 135 KB
Flp. 4:13
  • #5,934
  • Aug 15, 2011 11:18pm Aug 15, 2011 11:18pm
a 200pip ride calls for some liquadiation of positions i think, so without a decent retrace i dont see it going up before doing some decent down.
  • #5,935
  • Aug 16, 2011 1:36am Aug 16, 2011 1:36am
hello Kostas and dancers

i would like to thank you for the time and effort you are putting into this thread.

i have been following this thread for some time now, however, never had time to write anything because of my job.
i am trying to trade full time from home now using Choros system.

my main problem with this system is being patient and selective. i often jump in a trade just to be `active` so to say. i dont recommend it if your main point is to make money

here is the trade i took a while ago. got in a bit early at 14395 just below daily pivot. there was a confluence with RN and shorted it as price started touching 35MA on 5min. also price started touching ema10 on 15 min. got in too early and got out too early. need to be patient. anyway - was able to take +8 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 16 august euro trade2.gif Size: 19 KB
  • #5,936
  • Aug 16, 2011 2:28am Aug 16, 2011 2:28am
Quoting tonny47
hello Kostas and dancers

i would like to thank you for the time and effort you are putting into this thread.

i have been following this thread for some time now, however, never had time to write anything because of my job.
i am trying to trade full time from home now using Choros system.

my main problem with this system is being patient and selective. i often jump in a trade just to be `active` so to say. i dont recommend it if your main point is to make money

here is the trade i took a while ago. got in a bit early at 14395 just below...
Welcome to the thread and good scalping trade. I was in the same but I shorted at M5 50. In cases like these the EU M5 likes to touch the M5 50 and then starts going down.
Right now the M5 has given a double bottom at the confluence of H4 10, H1 35. If it doesn't decide to check H1 50/62 then I would consider longs.
  • #5,937
  • Aug 16, 2011 3:00am Aug 16, 2011 3:00am
thank you Kostas. i took another trade before reading your post. the same trade as i previously took. this time i shorted it at 14398, RN, ema50 on 5 min, daily pivot. ema 50 seems to be working well as you said
unfortunately i chickened out as price started consolidating on 1 min chart around 14390-94 area and took only +5 pips

Kostas, would you normally wait for the break of the low on 1 min chart before getting in short position? similarly entering at round number - do you just blindly get in at 00 or do you wait to see how aggressively price moves?
  • #5,938
  • Aug 16, 2011 3:22am Aug 16, 2011 3:22am
Quoting tonny47
thank you Kostas. i took another trade before reading your post. the same trade as i previously took. this time i shorted it at 14398, RN, ema50 on 5 min, daily pivot. ema 50 seems to be working well as you said
unfortunately i chickened out as price started consolidating on 1 min chart around 14390-94 area and took only +5 pips

Kostas, would you normally wait for the break of the low on 1 min chart before getting in short position? similarly entering at round number - do you just blindly get in at 00 or do you wait to see how aggressively...
I usually wait to see rejection bars at a reaction point. I mostly use M5 but at touches I use M1. For example, let's say I see price approaching a RN confluenced with H1 10 from below and I expect shorting it. As soon as the M5 gives a rejection I enter at the close (e.g. if I see a pinbar I will enter at the close of that bar). For touches, I enter when I see rejection from M1.
  • #5,939
  • Aug 16, 2011 3:24am Aug 16, 2011 3:24am
Quoting kostas1
If it doesn't decide to check H1 50/62 then I would consider longs.
Too many lines scatter everywhere above and below the price, difficult to decide for me.
  • #5,940
  • Aug 16, 2011 3:49am Aug 16, 2011 3:49am
Quoting kostas1
Welcome to the thread and good scalping trade. I was in the same but I shorted at M5 50. In cases like these the EU M5 likes to touch the M5 50 and then starts going down.
Right now the M5 has given a double bottom at the confluence of H4 10, H1 35. If it doesn't decide to check H1 50/62 then I would consider longs.
Looks like your trading is utilizing S n R from multiple timeframe, MAs other than 35/50 and also market pattern eg. double bottom....

Since there isn't any manual to your methods so far (to my knowledge). If we were to do our own research, any guildlines for us noobs on where to start? Thanks for posting.
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