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CHOROS System

  • #6,881
  • Nov 11, 2011 8:58am Nov 11, 2011 8:58am
read it thank you for your much valued suggestion...
  • #6,882
  • Nov 12, 2011 3:23pm Nov 12, 2011 3:23pm
Greetings, the reason I'm writing is that could someone a bit more experienced with CHOROS explain me about taking signals from higher time frames like H1, H4 and D1. Do we need to use the same principles as for M15, like steepness, first or second touch and number of bars ? I would be glad to hear more detailed information about everything connected with it.

Thanks in advance.
  • #6,883
  • Nov 12, 2011 4:42pm Nov 12, 2011 4:42pm
Quoting 2121
Greetings, the reason I'm writing is that could someone a bit more experienced with CHOROS explain me about taking signals from higher time frames like H1, H4 and D1. Do we need to use the same principles as for M15, like steepness, first or second touch and number of bars ? I would be glad to hear more detailed information about everything connected with it.

Thanks in advance.
Hi,

yes, the general answer should be: yes, we have to look at the same principles.

I would actually suggest you to use M15 as a kind of "fine tuning" of higher Time Frames Music Waves....

So, first look at the Higher TF direction and trend (and perhaps fix with an horizontal line Areas of previous S/R), then if any set up is approaching there (1st Touch, Constrainment, and so on) look for a confluence of another set up happening on an lower one (for example M15).

Also always keep in your mind the Round Numbers and Price Action Bars of the Higher TF's before analysing a lower TF entry (or exit).

Reading the thread you will find out the experienced Traders here (Kostas as surely first Example) use to fine tune their entries on M5 (or even M1) for set up of M15.

It takes patience, of course.
But better a not taken trade, that an unsure one.

In my humble opinion one of the biggest "secrets" of this Game is: Confluence.

1st (perhaps 2nd) Touch,
the closest possible MA's,
Round Numbers,
Previous Areas of Support / Resistance,
Two Bars Retracement Rule,

the most you see, the higher the edge of a winning trade.

I hope it may give you a first Idea of the Matter.
  • #6,884
  • Nov 12, 2011 9:39pm Nov 12, 2011 9:39pm
Quoting Binyamin
...Of all the touch trades I rarely see any touch that is the better than this type IMHO...

...From my experience, when price reach a place of confluence, price will bounce off any MA or important area but if there are higher level of areas like DP price will return to test there before turning around and go back to the direction of the trend...
Excellent analysis, Bin! Thanks for sharing your experience.

That's a gem, noticing that price tends to return more than once to areas of high confluence, before resuming the trend.

Confluence is the name of the game!
Luck occurs when preparation meets with opportunity.
  • #6,885
  • Nov 17, 2011 10:35am Nov 17, 2011 10:35am
Hi guys I am brand new to forex factory and to the Dance. I have spent time using the simulator and i now want to practise on a live demo account as suggested. I've installed the scripts but they are not working...and I've done exactly as was written in the manual....when i try to drag and drop them on the chart it doesn't register....can anyone help me to sort this out

thanks in advance

Ely
  • #6,886
  • Edited Nov 19, 2011 12:59am Nov 18, 2011 3:08am | Edited Nov 19, 2011 12:59am
Quoting Ely1
Hi guys I am brand new to forex factory and to the Dance. I have spent time using the simulator and i now want to practise on a live demo account as suggested. I've installed the scripts but they are not working...and I've done exactly as was written in the manual....when i try to drag and drop them on the chart it doesn't register....can anyone help me to sort this out

thanks in advance

Ely

if you are going for demo trading i would suggest you use the normal buy sell functions of MT4, there is no advantage really using the old scripts.
maybe there were made for 4 digit br0kers and now most use 5 digits.
problems with the scripts have been reported here before and some ppl have given advice, try searching in this thread.
  • #6,887
  • Nov 18, 2011 3:44am Nov 18, 2011 3:44am
Hi asos101 thanks for the advice. I have scanned through the thread and found some updated scripts posted by Leemonk ( I think that is his name). you are right it isn't important for the purposes of demo trading but they will make life a lot easier when I go live. Are you trading the Dance system and if so how do you enter your trades?

thanks again

Ely
  • #6,888
  • Nov 18, 2011 8:20am Nov 18, 2011 8:20am
Quoting Ely1
Hi guys I am brand new to forex factory and to the Dance. I have spent time using the simulator and i now want to practise on a live demo account as suggested. I've installed the scripts but they are not working...and I've done exactly as was written in the manual....when i try to drag and drop them on the chart it doesn't register....can anyone help me to sort this out
thanks in advance
Ely
Hi Ely, I am at the same point you are, just starting to demo the Dance. I also had issues with the scripts and found out that the interface has apparently changed when issuing MT4 scripts. Used to be you could just do an orderSend with the TP and SL all at once. Someone has stated that this no longer works and one now needs to do the orderSend and follow that immediately with an orderModify. I have verified that modifying the script to just do the send without the SL and TP works. Now working to modify them with the rest of the code.
Sorry if this is all programmer geek talk, it was a former incarnation.....
If I get these running I will post them here. And, it is not you, it is the scripts.
  • #6,889
  • Nov 18, 2011 8:53am Nov 18, 2011 8:53am
Thank you funwuthbux....I was going nuts and just about to throw the pc out of the window! I don't have a clue what you are telling me lol....but I really appreciate the feedback and thank you for offering to post them here if you do get them working.

Ely
  • #6,890
  • Nov 18, 2011 10:22am Nov 18, 2011 10:22am
Just a reminder to newbies:

Scripts are NOT necessary to follow the method. In fact, I have never used them. Focus on learning the trades first.

Kostas

P.S. Some CHOROS traders are using the scripts so they may provide some advice.
  • #6,891
  • Nov 18, 2011 11:07am Nov 18, 2011 11:07am
Here are the modified scripts for setting lots, issuing a buy and a sell.
Just to be clear about a couple of things, I fully agree with Kostas that doing these trades manually is all that is required, and indeed, probably much more instructive.
The only reason I made the changes is that, well, I am a bored computer nerd, and I don't trade on Fridays.....
Also, I do not intend to become the go to person for scripts. I will make minor changes if folks want them, but I am not looking to get into a full time script maintenance position.
The final caveat is that I have only tested these with my broker (or borker, whichever you prefer) and they worked for me.
There are considerations I am sure with each individual's environment, the 4 digit versus 5 digit comes to mind.
If there are any errors PM the error log that is printed in the "Experts" tab of the Terminal Window and I will see if there is anything that can be done.
Here they are and remember you are getting just what you paid for (and they are free.....)
Attached File(s)
File Type: mq4 A_Buy_v1.mq4   2 KB | 458 downloads
File Type: mq4 A_Sell_v1.mq4   2 KB | 421 downloads
File Type: mq4 A_SetLotSize_v1.mq4   1 KB | 447 downloads
  • #6,892
  • Nov 18, 2011 11:23am Nov 18, 2011 11:23am
thanks a bunch Funwithbux....and thanks for the advice Kostas 1....your the main man here so you know what you are talking about! I am new to Metatrader too and have so far been tading longer term Harmonic patterns with the trade ticket..... with the Dance, it just seemed to be to be a fairly laborious way to enter trades if you are doing market execution which doesn't allow you to place a stop at the same time etc..and trying to take quick small profits... am I missing something here? Is there a quicker way to enter trades manually? Or do I just need to get with the programme?

Once again guys thanks for the help and advice.

Ely
  • #6,893
  • Nov 18, 2011 11:52am Nov 18, 2011 11:52am
Quoting Ely1
... it just seemed to be to be a fairly laborious way to enter trades if you are doing market execution which doesn't allow you to place a stop at the same time etc...
Ely
I agree that putting market orders in with Metatrader is a bit tedious. But, I have been doing it for about 8 months now and you get used to it. My problem is my eyesight is getting worse, and reading those tiny little numbers is getting to be a pain, and forget about it if I misplaced my glasses.... So I am going to test out using the scripts.
I will still be using the MT4 Order interface to move stops, set BEs and move TPs, but for getting in with some basics parameters I personally feel scripts are for me.....give my eyes a break....
And, I don't know of any easier way using the standard MT4 interface.
  • #6,894
  • Nov 18, 2011 11:56am Nov 18, 2011 11:56am
Anyone have any thoughts on the attached trade as a Constrainment trade? I am new enough to this stuff that I am still trying to ID these trades. It obviously worked out well, but I just want to know if that was because it was a valid setup, or just dumb luck.....
Attached Image (click to enlarge)
Click to Enlarge Name: ConstrainmentTrade_1.jpg Size: 169 KB
  • #6,895
  • Nov 18, 2011 12:02pm Nov 18, 2011 12:02pm
I've just been playing with your scripts and they work....brilliant!!..when i used it the first time it gave me a stop of only 3 pips and ....so i added a 0....you've programmed 19 pips sl and 19 tp right? On my system my stops and tps are completely diiferent..can you tell me what i should do ....? once again thank you....it really is all i need and I agree with you about doing the rest manually...I was just concerned about doing it in a live envrironment and making mistakes but with the scripts you've done...you can enter knowing that your stops in place and then you've got time to breath and watch the market....and make the adjustments..if it goes your way lol
  • #6,896
  • Nov 18, 2011 12:27pm Nov 18, 2011 12:27pm
Today, 18 November,...The two bars rules...
Attached Image

For french Dancers
  • #6,897
  • Nov 18, 2011 12:30pm Nov 18, 2011 12:30pm
I just read my last message and tried to edit it because it's nonsensical.....funinthebox i added a 0 to the sl and made the tp 1000...when i just played with it now i entered a trade short at 1.3516...it gave me a sl at1.3546 and a tp at 1.3358....what am i doing wrong?

thx Ely
  • #6,898
  • Nov 18, 2011 12:41pm Nov 18, 2011 12:41pm
Quoting Ely1
..when i used it the first time it gave me a stop of only 3 pips and ....so i added a 0....you've programmed 19 pips sl and 19 tp right? On my system my stops and tps are completely diiferent..can you tell me what i should do ....?
Hmmm, 3 pips, that is odd. Well, to the easy stuff first. I did hardcode both the SL and TP initial settings to 19, totally arbitrary. This can be changed in the code for a more permanent solution. To do that bring up the MT4 Navigator, scripts, select the script in question (A_Buy_v1 or A_Sell_v1) and right click, select Modify. The MetaEditor will bring up the file and you can modify the StopLoss and TakeProfit variables. Click the Compile button up top and exit. That should fix that.
As for the 3 pips if you want to persue that (I mean if it is still an issue after you make the above change) capture the 3 or 4 lines logged in the Terminal Window under the Experts tab when you run the script and PM (Private Message) them to me. We can discuss the remaining specifics offline and not clutter up the thread with debugging discussions.
Attached Image
  • #6,899
  • Nov 18, 2011 12:43pm Nov 18, 2011 12:43pm
Greetings! been out of trading a while never mind if I lost a lot of dough, but this stuff sure works, if I where on the other side of the trade that had be bubub, the story would have been different well two years plus of not trading has added to my years of experience never to lost big time again. but [i] need what works sure think this stuff has got some buff. where can I find the manual and downloads and recent modification. I am bouncing back to trending or trading, please some get back to me fast and easy. one love
  • #6,900
  • Nov 22, 2011 5:00am Nov 22, 2011 5:00am
Quoting funwithbux
Anyone have any thoughts on the attached trade as a Constrainment trade? I am new enough to this stuff that I am still trying to ID these trades. It obviously worked out well, but I just want to know if that was because it was a valid setup, or just dumb luck.....
Hi, Funbux. I'm not a pro trader (yet!) but I like constrainment trades. This is not a bad setup, but not AAA IMHO.

You have nice small bars touching/rejecting the 35/50 and closing above it. Best entry point would be that #4 green bar at the 35 touch with very small SL. It's almost more of a touch trade than constrainment.

I would not set my SL so high - maybe 10 pips at most. In constrainment you expect price to go up (in this case). If it goes down it's an immediate failure signal.

Your MAs are a little flat, in fact your long term MAs are pointing down, and you have the 5 and 10 above the entry point. It's best to have "clear sky" - that's Survivor's term. It means there is no MAs, TL, RN, SR, etc. to hinder price moving your direction.

Now if you look ahead around 13:00, as those green bars are climbing - that's pretty good constrainment. the 10MA is "constraining" price, moving upward, you have clear sky (except for 6500 RN but IMHO that's the least effective type of barrier), and you're with the trend. You could enter on any touch of the 10. If you scroll back through history you'll see this happen all the time.

You even have a nice retrace and 10 touch around 14:30.

Survivor is Dr. Constrainment. Read all his posts - I have. You can learn everything about constrainment from him. And it's one of the easier setups to spot once you get the hang of it.

Hope this helps! Mega pips to you!
Luck occurs when preparation meets with opportunity.
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