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CHOROS System

  • #6,581
  • Sep 30, 2011 2:42am Sep 30, 2011 2:42am
What am I doing wrong? Isn't Choros trade that way???
  • #6,582
  • Sep 30, 2011 2:59am Sep 30, 2011 2:59am
Quoting kk007
GU H1.35/50 + H4.E10, previous S/R with PA M15 Dead-end bar.

Anyone taken this?

-10 pip
Can't understand why you took that with no PA on either the M5 or M15 to tell you it was starting to turn around, especially I notice you trade with FXPro and the last closed H4 chart finished with a very large pin bar plus it had already bounced off of the H4 10EMA twice for very nice pips.
  • #6,583
  • Sep 30, 2011 3:07am Sep 30, 2011 3:07am
Quoting kk007
Thanks for telling me that. At least, I know I am not alone.

Wonder any comment from more experienced traders. Feel like gamble with the MA line every time I trade.
Me too lately. I guess I need more practice and study?

hat tip to whoever I stole this from: http://movieclips.com/WJw7-top-gun-m...dence-problem/
Hindsight is 20/20
  • #6,584
  • Sep 30, 2011 3:07am Sep 30, 2011 3:07am
Quoting ohammond
Can't understand why you took that with no PA on either the M5 or M15 to tell you it was starting to turn around, especially I notice you trade with FXPro and the last closed H4 chart finished with a very large pin bar plus it had already bounced off of the H4 10EMA twice for very nice pips.
M15 Dead-end bar is a PA formation.

Good point about the H4 pin bar.

I have not taken noticed of the H4 bar close just 15 min beforehand, since I have only 3 TF on a pair not H4. Also, different brokers have different H4 formations.
  • #6,585
  • Sep 30, 2011 3:10am Sep 30, 2011 3:10am
Quoting kk007
M15 Dead-end bar is a PA.
Maybe with other good reasons to go in but I wouldn't take it just on its own. Weigh up a dead end bar on the M15 against a huge H4 pin and 2 bounces from there already and I think you can guess which PA will be the winner. Probabilities of a trade winning is what you will bet on and those are not good.
  • #6,586
  • Sep 30, 2011 3:15am Sep 30, 2011 3:15am
Quoting ohammond
Maybe with other good reasons to go in but I wouldn't take it just on its own. Weigh up a dead end bar on the M15 against a huge H4 pin and 2 bounces from there already and I think you can guess which PA will be the winner. Probabilities of a trade winning is what you will bet on and those are not good.
Good point! Thanks mate! I buy you for this. Unfortunately, this explained only one loser out of my few today.
  • #6,587
  • Sep 30, 2011 3:22am Sep 30, 2011 3:22am
Quoting kk007
Good point! Thanks mate! I buy you for this. Unfortunately, this explained only one loser out of my few today.
All I would say is that PA is going to be choppy if you look at the news page it was scattered all over the place this morning, along with being the last day of the month and also the last day of the quarter.
  • #6,588
  • Sep 30, 2011 3:23am Sep 30, 2011 3:23am
Hi guys!

Do we have any constrainment specialists still here? On the attached picture, could this be considered as constrainment or are the bars too wide for that? If yes, then in what direction on M15 and same for M5? Thanks!
  • #6,589
  • Sep 30, 2011 3:26am Sep 30, 2011 3:26am
Quoting Payles
Hi guys!

Do we have any constrainment specialists still here? On the attached picture, could this be considered as constrainment or are the bars too wide for that? If yes, then in what direction on M15 and same for M5? Thanks!

Sry, forgot the attachement..
Attached Image (click to enlarge)
Click to Enlarge Name: 30.09 5 MT4.jpg Size: 464 KB
  • #6,590
  • Sep 30, 2011 3:26am Sep 30, 2011 3:26am
Quoting ohammond
All I would say is that PA is going to be choppy if you look at the news page it was scattered all over the place this morning, along with being the last day of the month and also the last day of the quarter.
Hi mate,

Do you trade Choros or other systems most of time?

cheers,
  • #6,591
  • Sep 30, 2011 3:32am Sep 30, 2011 3:32am
Quoting kk007
Hi mate,

Do you trade Choros or other systems most of time?

cheers,
I traded EOhater's system for a long time (which this is based on) reading M5 PA to do it, but just lately I have gone over to this thread http://www.forexfactory.com/showthread.php?t=276813 but on the M5. I've found it suits the way I like to trade and its not so discretionary, but thats just my opinion.
  • #6,592
  • Sep 30, 2011 3:38am Sep 30, 2011 3:38am
Quoting cosgrove
Me too lately. I guess I need more practice and study?

hat tip to whoever I stole this from: http://movieclips.com/WJw7-top-gun-m...dence-problem/
But the road seems narrow and long and can't see the end of it.....

Can't see anything after thousands of screen hours
  • #6,593
  • Sep 30, 2011 7:59am Sep 30, 2011 7:59am
Quoting kk007
But the road seems narrow and long and can't see the end of it.....

Can't see anything after thousands of screen hours
I'm not an expert but could a possible reason be you're taking to many trades? you could try taking just 1-2 trades a day , the best setups ..... just a suggestion
  • #6,594
  • Sep 30, 2011 8:05am Sep 30, 2011 8:05am
Quoting fugly
I'm not an expert but could a possible reason be you're taking to many trades? you could try taking just 1-2 trades a day , the best setups ..... just a suggestion
I have posted the chart there, if you think it is not a good setup, you can advice.

If there are 10 good setups for the day, I take 10.

If there is no good setup for the day, I don't take any.

So, it may not be a matter of how many setup taken, it is about whether the setup taken is good.

Does it sound logical?
  • #6,595
  • Sep 30, 2011 8:56am Sep 30, 2011 8:56am
-10 pip stop out. Re-enter +20 pip. What is the lesson here?
Attached Image
  • #6,596
  • Sep 30, 2011 8:58am Sep 30, 2011 8:58am
Quoting kk007
-10 pip stop out. Re-enter +20 pip. What is the lesson here?
Bigger SL?
Riding the order flow
  • #6,597
  • Sep 30, 2011 9:02am Sep 30, 2011 9:02am
Quoting Binyamin
Hi I have looked at it, I am just answering because no one seems to be answering. Perhaps you should repost this question on monday where there are more experience Chorosers here like Kostas or asos etc. I would like to hear their answer too. I only trade constrainment when there come with exhaustion bars(small bodied bars), this case doesn't fit my criteria. However I like the fact that the 15M 35/50 Ma are steep and parallel. I will only trade the constrainment when both H1 and 15M 35/50 MAs are steep and parallel.... just my personal criteria.

Glad...
I can definite answer this. This is not a constrainment trade. For a constrainment trade, you need 3 recent bar in a row touching (or almost touching) the MA (and with bar close on the "right" side of the MA). It is not the case here.

Even if it is a constraiment (i.e. 3 recent bar in a row touching the MA), you have to evaluate whether it is a good constrainment. About this, I cannot give you a definite answer.
  • #6,598
  • Sep 30, 2011 9:04am Sep 30, 2011 9:04am
Trade 1,2: -10pip re-enter +15pip
Trade 3: -10 pip
Trade 4: -10 pip
Trade 5: -10 pip
Trade 6,7: -10 pip re-enter + 20 pip

Overall: -15pip
  • #6,599
  • Sep 30, 2011 9:07am Sep 30, 2011 9:07am
Quoting Binyamin
Bigger SL?
Difficult to answer whether it is good.
  • #6,600
  • Sep 30, 2011 10:35am Sep 30, 2011 10:35am
I think I am beginning to understand what some traders say when they say develop a "feel" for the market. I think feel comes in when you can't precisely describe the market but you recognize it though it is not very clearly defined to you but you can still see it. I think traders call it a feel because it has become heart felt understanding to them, if I never trade descretionary strats I think I won't appreciate the little I know now(subjective interpretation of the market). I always wonder how traders can say for example. Looks like the market wants to penetrate the previous day low(as if they can see the mood of the market like we sense the mood of another human being). Making decisions like that is surely at the edge of what I am use to but as I am learning bit by bit more about market tendencies and hearing the experience traders in this thread talk, I really appreciate the importance of developing an accurate feel for the market.

From the little I have learn, I have through intuition alone dodge a few losing trades. I feel strongly that it is enough reason for me to try to learn more about the market intuitively. (though it still feels alien)

PS: I am writing to hear comments if any.
Riding the order flow
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