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CHOROS System

  • #6,321
  • Sep 9, 2011 2:39am Sep 9, 2011 2:39am
Quoting Binyamin
You mean on the daily chart for my trades? My SL is 1.4151, and yes usually is at the high of the setup action bars if I consider the inside bar but this is an exception I only consider the pin bar. My 1st TP is 1.3930, if I want to be ultra conservative which is fine I could have taken my 1st TP at 1.3971 the next SR.

TP1 is at 80+ pips the SL size is 138.(Now at BE of course) Therefore RR is .57 for 1st TP. Modest but I like it that way.

If you are asking about my 2nd trade at 15M, no my SL is not 300 pips, it was about 20.
ok, thank you
i was referring to daily charts but its great you explained both. sounds good.
my inside bar is slightly different - its low is 1.3993, hence its just over 150 pips. must be different broker time.

i assume you are still holding the other half, correct?
  • #6,322
  • Sep 9, 2011 2:52am Sep 9, 2011 2:52am
Quoting tonny47

i assume you are still holding the other half, correct?
Yeap, see if it can turn the support of the low in July into a resistance, I am prepared to ride it even to a thousand pips if it will. Or right up to 1.0000 lol.
Riding the order flow
  • #6,323
  • Sep 9, 2011 3:58am Sep 9, 2011 3:58am
Quoting Binyamin
Yeap, see if it can turn the support of the low in July into a resistance, I am prepared to ride it even to a thousand pips if it will. Or right up to 1.0000 lol.
thats the spirit
  • #6,324
  • Sep 9, 2011 6:33am Sep 9, 2011 6:33am
Quoting Binyamin
Cheers, I do think most of you know it at least intuitively. I am actually curious to know if a losing trader in this strat can start making money after knowing this. I wrote it mainly for the ones relatively new to discretionary trading so that they don't have to wonder like I did why their trades are not consistent. I didn't mention, I have manually back tested 1 of my mechanical trend following system using the principals I mention and the results were, well lets just say profit to draw down was a lot better. Looks like I will be taking trades...
No... I am still having 90% loser today. Mostly, I place intuitive trades using some principles (most are a bit "experimental"), trades always went against me immediately. Most positions are all the way in red, I am convinced price don't move randomly.

21 losers, 2 winner, 10 BE, and I did not target for a lot pips to win each time.
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  • #6,325
  • Sep 9, 2011 6:56am Sep 9, 2011 6:56am
Quoting kk007
No... I am still having 90% loser today. Mostly, I place intuitive trades using some principles (most are a bit "experimental"), trades always went against me immediately. Most positions are all the way in red, I am convinced price don't move randomly.

21 losers, 2 winner, 10 BE, and I did not target for a lot pips to win each time.
try these 3 rules for a bit http://www.forexfactory.com/showthre...70#post4890770 see how it goes.
in these results above it cant be that every trade you take is a loser or it would be easy to have a script invert your entries =P. heh, ok bad joke. just remember, every trade will eventualy turn back to slap you, the question is will you let it do so?

Binyamin is also right in his strategy of trailling the partials .
  • #6,326
  • Sep 9, 2011 7:21am Sep 9, 2011 7:21am
Quoting kk007
No... I am still having 90% loser today. Mostly, I place intuitive trades using some principles (most are a bit "experimental"), trades always went against me immediately. Most positions are all the way in red, I am convinced price don't move randomly.

21 losers, 2 winner, 10 BE, and I did not target for a lot pips to win each time.
you took maaaany trades in such a short period of time. i have decided to be extremely selective today. at times i was very very upset about trading ideas which turned out to be profitable and i wasnt in. took 3 trades today, they added up to +30 pips. decided not to trade any more today. the same happened last week, i kept on trading and lost it all and more.
usually, taking a short break after losing trade helps, otherwise i am able to justify entry on any trade (mostly not good one).
i suppose you should just take your time selecting trades, unless your objective is to try out different things
  • #6,327
  • Sep 9, 2011 7:39am Sep 9, 2011 7:39am
Quoting kk007
No... I am still having 90% loser today. Mostly, I place intuitive trades using some principles (most are a bit "experimental"), trades always went against me immediately. Most positions are all the way in red, I am convinced price don't move randomly.

21 losers, 2 winner, 10 BE, and I did not target for a lot pips to win each time.
Something similar is happening with me often, but not at such scale. Today luckily I managed to recover from -35 to -3, but at least I can advice you to take a break until Monday...

Quoting tonny47
i suppose you should just take your time selecting trades, unless your objective is to try out different things
agree, i think patience is the key
  • #6,328
  • Sep 9, 2011 7:56am Sep 9, 2011 7:56am
Quoting tonny47
you took maaaany trades in such a short period of time. i have decided to be extremely selective today. at times i was very very upset about trading ideas which turned out to be profitable and i wasnt in. took 3 trades today, they added up to +30 pips. decided not to trade any more today. the same happened last week, i kept on trading and lost it all and more.
usually, taking a short break after losing trade helps, otherwise i am able to justify entry on any trade (mostly not good one).
i suppose you should just take your time selecting trades,...
Yes, mainly experimental things, not mainly choros setup..
  • #6,329
  • Sep 9, 2011 8:08am Sep 9, 2011 8:08am
I used to suffer from rushing trades, that was when I was unemployed and desperately wanted to succeed fast. Then I got a job and traded only 2-4 hrs a day, feeling zero pressure now that I had a stable income. I only picked the best setups, and made only 3-5 scalping entries every week

Miraculously, I have been making profits every week for the last three months, and like Kostas promised in the first post, very few losses(in fact, only 1 if I chose not to be stupid). Certainly not to brag as the pips I make are pathetic compared to the high rollers here.

So maybe that might help, get yourself occupied and be very picky
  • #6,330
  • Sep 9, 2011 8:21am Sep 9, 2011 8:21am
that is encouraging
  • #6,331
  • Sep 9, 2011 8:33am Sep 9, 2011 8:33am
I have been thinking about this. How can those who are having a full-time job can do their best? Then, I realize if you taking the chart-watching very intensive, it is difficult to win. So, someone suggest to watch movie or play TV game to distrace yourself while trading. This sounds a bit odd, but there is a wisdom inside.

My 3" cents.


Quoting natnimrey
I used to suffer from rushing trades, that was when I was unemployed and desperately wanted to succeed fast. Then I got a job and traded only 2-4 hrs a day, feeling zero pressure now that I had a stable income. I only picked the best setups, and made only 3-5 scalping entries every week

Miraculously, I have been making profits every week for the last three months, and like Kostas promised in the first post, very few losses(in fact, only 1 if I chose not to be stupid). Certainly not to brag as the pips I make are pathetic compared to the high...
  • #6,332
  • Sep 9, 2011 8:43am Sep 9, 2011 8:43am
Quoting kk007
I have been thinking about this. How can those who are having a full-time job can do their best? Then, I realize if you taking the chart-watching very intensive, it is difficult to win. So, someone suggest to watch movie or play TV game to distrace yourself while trading. This sounds a bit odd, but there is a wisdom inside.

My 3" cents.
Sorry if I am wrong but are you trading for excitement? I still take those vinegar shots when I do stupid things with my trade and that keeps me in check.(I havent took one for a long time but I have a bottle of vinegar beside me just in case) I think more about losing than winning. You might want to try it and tell us how it helps (vinegar shots, I recommend apple cider, healthy)
Riding the order flow
  • #6,333
  • Sep 9, 2011 9:15am Sep 9, 2011 9:15am
Quoting Binyamin
Sorry if I am wrong but are you trading for excitement? I still take those vinegar shots when I do stupid things with my trade and that keeps me in check.(I havent took one for a long time but I have a bottle of vinegar beside me just in case) I think more about losing than winning. You might want to try it and tell us how it helps (vinegar shots, I recommend apple cider, healthy)
Vinegar shots!!!

Thanks buddy, I was doing some experimental entries today. I know if I follow rules strictly, I will have more winners than losers. But what I want to explore is to see if I can develop something new so that I can have more setup to trade per day. But no, the results is very disappointing, as you seen.

My stomach is not very well, I don't want Vinegar......


By the way, do you watch the screen all the time?
  • #6,334
  • Sep 9, 2011 9:48am Sep 9, 2011 9:48am
Quoting natnimrey
I used to suffer from rushing trades, that was when I was unemployed and desperately wanted to succeed fast. Then I got a job and traded only 2-4 hrs a day, feeling zero pressure now that I had a stable income. I only picked the best setups, and made only 3-5 scalping entries every week

Miraculously, I have been making profits every week for the last three months, and like Kostas promised in the first post, very few losses(in fact, only 1 if I chose not to be stupid). Certainly not to brag as the pips I make are pathetic compared to the...
Well done natnimrey, I’m trading live now and definitely psychology is different. I´m being extremely picky with my trades to, maybe too much, and being so picky is giving me a lot of BE trades. I made a pathetic 1.1% growth this WEEK . It´s obvious that more experience is needed.
  • #6,335
  • Sep 9, 2011 9:52am Sep 9, 2011 9:52am
Quoting asos101
try these 3 rules for a bit http://www.forexfactory.com/showthre...70#post4890770 see how it goes.
in these results above it cant be that every trade you take is a loser or it would be easy to have a script invert your entries =P. heh, ok bad joke. just remember, every trade will eventualy turn back to slap you, the question is will you let it do so?

Binyamin is also right in his strategy of trailling the partials .
The rules are not useful in my cases, since usually the price go to the SL immediately or later, and the trades are all the way in red. I don't know why, but this just happen. I keep trying and this keeps happen. This happen when I am not trading choros.
  • #6,336
  • Sep 9, 2011 9:58am Sep 9, 2011 9:58am
Quoting kk007
...someone suggest to watch movie or play TV game to distrace yourself while trading...
Jeje, I prefer working, while trading . It’s true, at least with my little experience. When I get into a great setup, set my SL and TP and leave, TP is hit most of the time.

But if I stay around, I get anxious watching the trade develop, I do something stupid, and end up at BE.

EDIT: Buy lately, I’m being too picky with my trades and I end up left waiting most of the time.
  • #6,337
  • Sep 9, 2011 11:13am Sep 9, 2011 11:13am
Thanks Binyamin,

I got time to read this post now...

Thanks a lot for your explanation and charts!

Your "bar action" is what it called "price action" here, so I think it is relevant to choros and should be discussed more here in my opinion.

Your "PPA" is S/R here, which is not discussed a lot, rather it treated as a basic concept.

Play with this price action is not plain and simple, rather it takes a lot practise. Discipline, timing, emotion and visual judgement also complicated the operational process a lot.

cheers,



Quoting Binyamin
I didn't want to talk too much about this because this is not by the rules anymore, so Kostas please bear with me for 1 post. I also don't feel qualified to start a thread because all my info is from this forum, I didn't made it up or discover anything. I just found that if it is applied to any good strategy the edge will be magnified. (Try it on a bolinger band, it blew me away)
  • #6,338
  • Sep 9, 2011 11:26am Sep 9, 2011 11:26am
Quoting kk007
The rules are not useful in my cases, since usually the price go to the SL immediately or later, and the trades are all the way in red. I don't know why, but this just happen. I keep trying and this keeps happen. This happen when I am not trading choros.
Hey KK, I think you might have what we call "Ceguera de Taller", in english it might be "workshop blindness" tho' I don't know the exact term... anyway it's an Industrial Engineering term that describes when workers inside a given industry will obtain the same bad results, same flaw in quality or whatever and they can't find the reason or origin of this problem, and it is usually solved by putting someone completley new to analise the process and find the flaw and also by taking the workers out of their working places and their common activities for some time, so when they come back they may have fresh perspectives... So, you can do one or both of those, look for someone you know and trust to check on your trading and tell you what you're doing wrong and take some time off, for two or three weeks, and then come back like you've forgotten all you've been doing 'till now and start with only basic Choros rules and applying some of the concepts brought here by Kostas, asos, Survivor or Bin's latest posts...

Maybe this will help, my best KK, have a great weekend!
Flp. 4:13
  • #6,339
  • Sep 9, 2011 12:14pm Sep 9, 2011 12:14pm
Hi Anthar,

The thing which doesn't work is not choros/dance (and may be not good to discuss too much here). I experiment something else, and I know why something not working in hindsight. I don't have a manual for it, and keep making mistakes. I am confident that I will finally master it and trade it at the same time with choros/dance.

Thanks my friend for your attention,

kk007

Quoting Anthar
Hey KK, I think you might have what we call "Ceguera de Taller", in english it might be "workshop blindness" tho' I don't know the exact term... anyway it's an Industrial Engineering term that describes when workers inside a given industry will obtain the same bad results, same flaw in quality or whatever and they can't find the reason or origin of this problem, and it is usually solved by putting someone completley new to analise the process and find the flaw and also by taking the workers out of their working places and their common activities...
  • #6,340
  • Sep 9, 2011 12:31pm Sep 9, 2011 12:31pm
Quoting kk007
Hi Anthar,

The thing which doesn't work is not choros/dance (and may be not good to discuss too much here). I experiment something else, and I know why something not working in hindsight. I don't have a manual for it, and keep making mistakes. I am confident that I will finally master it and trade it at the same time with choros/dance.

Thanks my friend for your attention,

kk007
It's good to read your post, you seem to know where you're heading so I'm sure you'll get there sooner or later. My best.
Flp. 4:13
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