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CHOROS System

  • #6,801
  • Oct 27, 2011 4:41am Oct 27, 2011 4:41am
Quoting screenname
I see. Is this from Oanda? I know Oanda gives Sunday data prior to 5pm EST for some pairs. It doesn't happen on MBTrading charts, at least not on Fiber/Cable since it always starts a new week at Sunday 5pm and ends at Friday 5pm.

I took a look at the three indicators you posted. fxbc_S&R_pivots.mp4 has a serious problem. It keeps calculating pivot values at every tick and it floods the Experts log window. Also the code is very messy. AutoPivotIndicator is better, but PivotPoints.mp4 has the best code and it's the easiest to understand....
Yes, this is Oanda. Their Sunday data is not consistent across TFs, either.

I can't write code unless it's real easy, so I'm glad you looked at these. I included fxbc_S$R_pivots.mt4 because Binyamin said he uses it.

I was thinking you could edit the code in PivotPoints indis to make it default to Daily, Weekly and Monthly, then save it as 3 separate filenames to give you the 3 indis. Fixing code is better but I can't do it.

That's great if you can fix those things! Thanks for working on this!
Luck occurs when preparation meets with opportunity.
  • #6,802
  • Oct 27, 2011 4:51am Oct 27, 2011 4:51am
Thanks Asos, IamThat and Kostas for helping me out with the chart setups. I knew/suspected some of your answers but now I have it complete.

Quoting asos101
...i think it is important to start from scartch, start from the first page and see how things evolved, why an indy was introduced and why another was removed...
Asos, I hear you and I agree. I work on this as I get time. My problem is that I have only about 2 hours per day for all things forex, including trading. And sometimes less on weekends. So I'm working at it slowly but surely!
Luck occurs when preparation meets with opportunity.
  • #6,803
  • Oct 27, 2011 4:53am Oct 27, 2011 4:53am
Quoting AlienFrog
Hi, guys. Wondering if you can help me out. I'm trying to set up my charts the same as you guys.

I'm reading over thread history, and looking at Kostas's chart attachments. There are lots of indis and lines that have evolved since the original manual, that you're all using today. I pulled a couple of Kostas's pics to show what I mean.

I've changed my M5 setup to 5EMA, 12EMA and 23EMA. I've added 62EMA to H1. But I know I'm still missing some. I've spent a lot of time searching through a lot of the thread to find them all and why they are used,...
I think that the moving average in stairs are the MAs of higher time frame chart.

Exple: in a 15mn charts it's the 10EMA, 35SMA, 50EMA... of the H1 charts which are in stairs.

This allows to see the confluence the MAs of H1 and M15 on the same chart and avoid to change all the time the TF to see if a confluence occurs or not.

i hope what i wrote is clear!!!
I hear and I forget. I see and I remember. I do and I understand.
  • #6,804
  • Oct 27, 2011 4:55am Oct 27, 2011 4:55am
Quoting Binyamin
I just took a touch trade with +10 pips that confluence with WP, H1 10EMA and M15 50EMA.

Reason why I took pip fast is because there are a lot of wicks at the 15M as you can see(nearly porcupine). Please feel free to share how you would have exit if you were to take it.

I feel happy because I think I am finally getting how to trade touch!

However there remains a problem, trading something as attention demanding as touch can interfere with my job. It is no that hard for me to make a mistake at work that can possibly(if the other guys don't...
Well, now at least you have a fallback job!

Seriously, good job on touch trading! This whole learning process seems to happen as a series of small revelations, "aha" moments (for me, at least). Sounds like you had a few lately on touch trading.
Luck occurs when preparation meets with opportunity.
  • #6,805
  • Oct 27, 2011 4:55am Oct 27, 2011 4:55am
Sorry, i just see now that Kosta had answered your question Alien!!!
I hear and I forget. I see and I remember. I do and I understand.
  • #6,806
  • Oct 27, 2011 5:10am Oct 27, 2011 5:10am
Quoting boubafx
Sorry, i just see now that Kosta had answered your question Alien!!!
So did Asos and IamThat! My thanks to all, you guys are all great!
Luck occurs when preparation meets with opportunity.
  • #6,807
  • Oct 27, 2011 5:14am Oct 27, 2011 5:14am
Quoting AlienFrog
Well, now at least you have a fallback job!
Great! I am going to blow up the oil field! <insert evil laugh>
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 33 KB
Riding the order flow
  • #6,808
  • Oct 27, 2011 6:25am Oct 27, 2011 6:25am
Quoting Binyamin
Great! I am going to blow up the oil field! <insert evil laugh>
If you are consistently making >=3% in a day on average for quite some time. Then, you need not worry about the full time job. I know some people in Singapore, who are full time traders now. They can concentrate well and this is what they like. When, I become consistent, this is something what I would like to do.
Prefer Price Action Method!
  • #6,809
  • Oct 27, 2011 7:48am Oct 27, 2011 7:48am
Quoting yameen.forex
If you are consistently making >=3% in a day on average for quite some time. Then, you need not worry about the full time job. I know some people in Singapore, who are full time traders now. They can concentrate well and this is what they like. When, I become consistent, this is something what I would like to do.

I posted this spreadsheet a while back.

If you can consistently get 3% per day can turn a $15 penny a pip account into over $1M in 400 trading days (about 18 months if you traded every day)

Attached File(s)
File Type: xls My compounding.XLS   69 KB | 769 downloads
  • #6,810
  • Oct 27, 2011 8:23am Oct 27, 2011 8:23am
Quoting AlienFrog
Yes, this is Oanda. Their Sunday data is not consistent across TFs, either.

I can't write code unless it's real easy, so I'm glad you looked at these. I included fxbc_S$R_pivots.mt4 because Binyamin said he uses it.

I was thinking you could edit the code in PivotPoints indis to make it default to Daily, Weekly and Monthly, then save it as 3 separate filenames to give you the 3 indis. Fixing code is better but I can't do it.

That's great if you can fix those things! Thanks for working on this!
It's harder than I think since I just started reading MQL4 stuff. Let me post my first version which fixed the Sunday candles for daily calculation first.

For weekly/monthly calculation I found the author of the code did not make adjustment using starting hour (1700 EST). Do you think we should make that change as well?
Attached File(s)
File Type: mq4 PivotPoints.mq4   10 KB | 306 downloads
  • #6,811
  • Oct 27, 2011 8:47am Oct 27, 2011 8:47am
Quoting Binyamin
I just took a touch trade with +10 pips that confluence with WP, H1 10EMA and M15 50EMA.

Reason why I took pip fast is because there are a lot of wicks at the 15M as you can see(nearly porcupine).
Thanks, this is good to know. BTW H1 10 wasn't that close to WP/M15 50, was it? Also do you place market orders or pending? I tried to place pending orders with touch trade, but found it too dangerous sometimes. Clay mentioned that you need to watch price action closely, e.g., sometimes there's "blow through".
  • #6,812
  • Oct 27, 2011 8:48am Oct 27, 2011 8:48am
Hi guys,

Would you consider this a correct constrainment for Choros?
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  • #6,813
  • Oct 27, 2011 9:09am Oct 27, 2011 9:09am
Quoting screenname
Thanks, this is good to know. BTW H1 10 wasn't that close to WP/M15 50, was it? Also do you place market orders or pending? I tried to place pending orders with touch trade, but found it too dangerous sometimes. Clay mentioned that you need to watch price action closely, e.g., sometimes there's "blow through".
Well from my data feed which is alpari UK the pips difference between H1 10EMA and WP was less than 3 pips back then. No I don't use pending orders however I have seen asos101 and Haydel using pending orders with success. I have not a clue how to tell if it is going to blow through or not, anyone wants to enlighten us??

The other good trade which I would have taken and I miss is GY about 4 hours into the london session. Touch trade, confluence with WP, DP, M15 35/50.
Riding the order flow
  • #6,814
  • Oct 27, 2011 9:19am Oct 27, 2011 9:19am
Quoting screenname
It's harder than I think since I just started reading MQL4 stuff. Let me post my first version which fixed the Sunday candles for daily calculation first.

For weekly/monthly calculation I found the author of the code did not make adjustment using starting hour (1700 EST). Do you think we should make that change as well?
I don't think you need to do that for weekly and monthly, just daily. I'll look at your changes later, I'm at work now.
Luck occurs when preparation meets with opportunity.
  • #6,815
  • Oct 27, 2011 9:51am Oct 27, 2011 9:51am
Quoting Darth Vader
Hi guys,

Would you consider this a correct constrainment for Choros?
i am not a constrainment expert, but i think you would be better off looking for constrainments in H1 and H4 for starters.
  • #6,816
  • Oct 27, 2011 10:39am Oct 27, 2011 10:39am
Quoting bigtent
I posted this spreadsheet a while back.

If you can consistently get 3% per day can turn a $15 penny a pip account into over $1M in 400 trading days (about 18 months if you traded every day)

Attachment
I have seen this excel sheet earlier. I have saved it in my drive. This is so true, it is definitely achievable with practise, disciple, patience and hard work.

Therefore, trading is learnable skill. Just imagine, how much experience we will get after 400 trading days. Already, I have started dreaming and working hard to achieve my dream now.

For me, KOSTAS is a very good example. After so long, he found the strategy which suits his trading style and works very well for his brain.
Prefer Price Action Method!
  • #6,817
  • Oct 28, 2011 4:25am Oct 28, 2011 4:25am
Daylight Saving Time Shift :-

The coming Sunday: Europe
Another week later: North America

Change of London Open time and New York Open time.
.
  • #6,818
  • Oct 28, 2011 5:57am Oct 28, 2011 5:57am
Quoting kk007
Daylight Saving Time Shift :-

The coming Sunday: Europe
Another week later: North America

Change of London Open time and New York Open time.
.
thanks
Riding the order flow
  • #6,819
  • Oct 28, 2011 6:03am Oct 28, 2011 6:03am
Here goes friday zzzzzzz
Attached Image
Riding the order flow
  • #6,820
  • Oct 31, 2011 12:03am Oct 31, 2011 12:03am
Is it possible to trade this system only for first couple hours of NY session or from NY open to London Close. Or you will get limited number of set ups?

Thanks
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