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CHOROS System

  • #6,161
  • Aug 24, 2011 9:19am Aug 24, 2011 9:19am
Quoting Haydel
Thank you kk007. I will probably not be trading tomorrow nor Friday so I guess +28.7% will be it for this month, I’m trying to get 30% monthly, so I’m satisfied with this month outcome.

Here is my NOT CHOROS LONG Entry on GU. I know is off topic and I hope that Kostas doesn't get mad at me for talking about other methods on his thread, but at least my Exit was CHOROS, actually when I see the charts now, I see that my Exit could have been a great CHOROS SHORT Entry.
i like how you are using MA5 for profit taking
i deleted it some time ago but might start using it again
  • #6,162
  • Aug 24, 2011 9:25am Aug 24, 2011 9:25am
Attached Image (click to enlarge)
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  • #6,163
  • Aug 24, 2011 9:25am Aug 24, 2011 9:25am
Quoting tonny47
15 seconds is massive (anything above 5 really!)!!!. do you ever get prices in your favour at all? could it perhaps be because of your internet connection or is that unlikely?
The internet connection is around 7Mbps and with small lots I was getting 1-2 sec delays.
Sometimes the requote would be in my favor, i.e. the price would be against me if the trade was not requoted. Some other times, I lost good entries due to that. Requotes happen mostly when market is thin or price is fast.
The delays 95% of the time result in the correct entry, i.e. the broker had accepted my original entry with no slippage. It is just worrying to wait these many seconds, wondering whether the trade will go through.
  • #6,164
  • Aug 24, 2011 9:25am Aug 24, 2011 9:25am
I think posting failed trades could be as useful as posting winning trades, so here's one trade I got a beating in today...

The lesson I learned: always stick to what you've proven to repeat more often (in this case PA will test most important levels around before reacting), never rush into a trade out of fear to be left out, a missed trade is better than a losing trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GU_failed.jpg Size: 150 KB
Flp. 4:13
  • #6,165
  • Aug 24, 2011 9:27am Aug 24, 2011 9:27am
Quoting kostas1
The internet connection is around 7Mbps and with small lots I was getting 1-2 sec delays.
Sometimes the requote would be in my favor, i.e. the price would be against me if the trade was not requoted. Some other times, I lost good entries due to that. Requotes happen mostly when market is thin or price is fast.
The delays 95% of the time result in the correct entry, i.e. the broker had accepted my original entry with no slippage. It is just worrying to wait these many seconds, wondering whether the trade will go through.

surely can be worrying with that kind of size!
  • #6,166
  • Aug 24, 2011 9:28am Aug 24, 2011 9:28am
Quoting Whenever
I was also watching that but didn't enter. It seems to me that now would be a good time to exit since it may bounce back to H1 10.
  • #6,167
  • Aug 24, 2011 9:30am Aug 24, 2011 9:30am
Quoting Haydel
Thank you kk007. I will probably not be trading tomorrow nor Friday so I guess +28.7% will be it for this month, I’m trying to get 30% monthly, so I’m satisfied with this month outcome.

Here is my NOT CHOROS LONG Entry on GU. I know is off topic and I hope that Kostas doesn't get mad at me for talking about other methods on his thread, but at least my Exit was CHOROS, actually when I see the charts now, I see that my Exit could have been a great CHOROS SHORT Entry.
Congrats. Well I personally enjoy reading Kostas and your analysis on the market. Thanks for sharing.
Riding the order flow
  • #6,168
  • Aug 24, 2011 9:43am Aug 24, 2011 9:43am
Quoting Anthar
I think posting failed trades could be as useful as posting winning trades, so here's one trade I got a beating in today...

The lesson I learned: always stick to what you've proven to repeat more often (in this case PA will test most important levels around before reacting), never rush into a trade out of fear to be left out, a missed trade is better than a losing trade.
nothing wrong, just too small SL (because of your early entry)
looks like the price played around the M15 10 for almost 10 minutes.
  • #6,169
  • Aug 24, 2011 9:44am Aug 24, 2011 9:44am
Quoting kostas1
I was also watching that but didn't enter. It seems to me that now would be a good time to exit since it may bounce back to H1 10.
+32 and out !



What else ?
  • #6,170
  • Aug 24, 2011 9:46am Aug 24, 2011 9:46am
Quoting kostas1
NO requotes, NO delays......
There were times that I lost the best entry due to requotes, then watched as the price quickly moved to where I thought it would......
If requoting happened too often, you may consider to widen your slippery allowance, if you place manually, there is a box for adjusting, if you use script, you will have to change the parameter in the code. There is pro and con in doing so.

If there is no requotes and delays in ECN market, what does it means? It seems to me that something like 20 lots is nothing in the market, since if trading volume is thin it is not possible to have no requotes or delays.
  • #6,171
  • Aug 24, 2011 9:48am Aug 24, 2011 9:48am
Quoting asos101
nothing wrong, just too small SL (because of your early entry)
looks like the price played around the M15 10 for almost 10 minutes.
Yeah I know, my spread should've been wider, but at this stage I'm psychologically not able to endure wide SL's. I'm working hard on my trading psychology tho'... thanks for your comments asos
Flp. 4:13
  • #6,172
  • Aug 24, 2011 9:55am Aug 24, 2011 9:55am
Quoting Anthar
I think posting failed trades could be as useful as posting winning trades, so here's one trade I got a beating in today...

The lesson I learned: always stick to what you've proven to repeat more often (in this case PA will test most important levels around before reacting), never rush into a trade out of fear to be left out, a missed trade is better than a losing trade.
Hi Anthar,

the High of the stopping out bar was 1,6461..you entered 1,6452....so 9 pips... I guess the spread was also a problem to get catched out...

Crazy, sorry for you the typical "stopped out and went in my direction"!

We all unfortunately know that I guess...

Perhaps a bit bigger SL could help (especially by Touch Trades more than Constrainment) ?
Just adjust your MM accordingly to a bigger SL

But I really liked the way you position those S/R lines/levels.
  • #6,173
  • Aug 24, 2011 9:56am Aug 24, 2011 9:56am
Quoting Anthar
Yeah I know, my spread should've been wider, but at this stage I'm psychologically not able to endure wide SL's. I'm working hard on my trading psychology tho'... thanks for your comments asos
better lose small and fast than risk big.

a 10pip SL would be enough if you had entered at the touch of the 10.
i also look for the tightest SL, and above i didnt suggest you use one.
but sometimes as you place your order price moves, it just happens.
..next
  • #6,174
  • Aug 24, 2011 10:05am Aug 24, 2011 10:05am
Quoting Whenever
Hi Anthar,

the High of the stopping out bar was 1,6461..you entered 1,6452....so 9 pips... I guess the spread was also a problem to get catched out...

Crazy, sorry for you the typical "stopped out and went in my direction"!

We all unfortunately know that I guess...

Just adjust your MM accordingly to a bigger SL

But I really liked the way you position those S/R lines/levels.
Thanks for your comments mate, those S/R levels represent other TF's ma's so if I enter from M5 I have in mind important MA's from M15 and the other way around....

Regarding MM, a 12 pip SL which is what I use almost always is not even 0.5% of my account, lol... I'm just working on building my confidence as I had serious psychological issues in my early trading days... so a boost in confidence is my goal now... getting there step by step...

Quoting asos101
better lose small and fast than risk big.

a 10pip SL would be enough if you had entered at the touch of the 10.
i also look for the tightest SL, and above i didnt suggest you use one.
but sometimes as you place your order price moves, it just happens.
..next
Yes, the spread made all the difference in this trade, but I'll know better next time, so I would avoid rushing into trades and getting an early entry which will force me to widen my spread....
Flp. 4:13
  • #6,175
  • Aug 24, 2011 1:48pm Aug 24, 2011 1:48pm
Quoting Whenever
+32 and out !



What else ?
It seems GU started becoming trendy again. The 2bar retrace gave plenty of pips and didn't reverse as it does lately. As we are approaching September CHOROS will start being the name of the game again. In my experience, another bad period is from December 15th to January 5th.
  • #6,176
  • Aug 24, 2011 1:56pm Aug 24, 2011 1:56pm
Quoting kostas1
It seems GU started becoming trendy again. The 2bar retrace gave plenty of pips and didn't reverse as it does lately. As we are approaching September CHOROS will start being the name of the game again. In my experience, another bad period is from December 15th to January 5th.
Amazing, Kostas you are reading my mind!!!

During the last days I was thinking to ask you exactly that... What months of the year you think are bad for trading. Exactly what you have responded now .

So, Do you think that during the hole year, August and December 15th to January 5th are no trade (or trade with extra care) days?

Thanks in advance...
  • #6,177
  • Aug 24, 2011 9:55pm Aug 24, 2011 9:55pm
Quoting kostas1
It seems GU started becoming trendy again. The 2bar retrace gave plenty of pips and didn't reverse as it does lately. As we are approaching September CHOROS will start being the name of the game again. In my experience, another bad period is from December 15th to January 5th.
That second period is EXACTLY my holiday period for Christmas, so I guess I won't have to suffer that too... I noticed your observation of GU too... but got miserably stopped out of the trade, lol.... I love trading
Flp. 4:13
  • #6,178
  • Aug 24, 2011 10:04pm Aug 24, 2011 10:04pm
I hate to ask, but I searched the thread and only found one other person that mentioned problems with the simulator.

I've often used the idea of visual mode to replay bars, but the scripts are a new concept to me. Unfortunately they don't seem to actually do anything. What am I looking for? I get confirmation messages in the logs like "loaded successfully" and "uninit reason 0" without any actual errors thrown. I adjusted the "Stop" and "Target" variables in the open scripts to be compatible with 5 digit brokers.

On-topic: M15 10 EMA touch from this morning attached. Beautiful trailing stop after almost being stopped out (high Ask got to be 1.7p away).
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2011-08-24 at 12.34.54 PM.png Size: 54 KB
Hindsight is 20/20
  • #6,179
  • Aug 25, 2011 12:37am Aug 25, 2011 12:37am
Quoting cosgrove
I hate to ask, but I searched the thread and only found one other person that mentioned problems with the simulator.

I've often used the idea of visual mode to replay bars, but the scripts are a new concept to me. Unfortunately they don't seem to actually do anything. What am I looking for? I get confirmation messages in the logs like "loaded successfully" and "uninit reason 0" without any actual errors thrown. I adjusted the "Stop" and "Target" variables in the open scripts to be compatible with 5 digit brokers.

On-topic: M15 10 EMA...
what scripts give you problems?
  • #6,180
  • Aug 25, 2011 12:55am Aug 25, 2011 12:55am
Quoting Haydel
So, Do you think that during the hole year, August and December 15th to January 5th are no trade (or trade with extra care) days?
Thanks in advance...
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