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CHOROS System

  • #6,941
  • Dec 6, 2011 10:29am Dec 6, 2011 10:29am
Quoting jaja
so constrainment is gone...now i am waiting for the first 10ema touch.
comments like your last 2 posts above would go to the interactive thread but nobody is there since the room is on.
here try to post your charts of trades or questions and we will do our best to answer.
cheers.
  • #6,942
  • Dec 6, 2011 4:50pm Dec 6, 2011 4:50pm
Dance trail EA

Attached File(s)
File Type: mq4 Dance_trail.1.mq4   6 KB | 453 downloads
  • #6,943
  • Dec 6, 2011 9:19pm Dec 6, 2011 9:19pm
Quoting asos101
on M1 i have the M15 equivalents + the 5 (75ema)
the ones you refer to from Clay are from his "new Dance manual" that noone uses as far as i know.

as for M5, i use the old ones, i guess the 12 replaced the 10 but i hope someone who knows better replies to you to clear this up.
Hi Asos

Thanks for the reply. That's cleared up M1 for me. Does anyone know on M5, whether I should have ema12, 10 or both?

Thanks
  • #6,944
  • Dec 7, 2011 12:52am Dec 7, 2011 12:52am
There are a lot of peeps posting winners so let me post an interesting loser from yesterday.

EURCAD, H1 35/50, H4 10EMA and DP.

The confluence with the market condition makes this an AAA trade, a very hi probability trade which I once had 10 winning streaks that made me more than 5% in less than 2 weeks just trading mostly this setup.

However this time the price blew through and took out my SL at -20 pips for -0.5% of my account. So what happen???

Upon inspection the mistake was earlier that day the DP has been touched numerous times and the H4 10EMA has been touch about 1 bar ago. Too much touching weakens the integrity of the structure, so when the price approach the same structure latter, the structure just yield and gave way. It was a catastrophic failure. A blow out.

So what I will do next time is make sure I trade important levels that have not been touched for an ample amount of time.

HOWEVER

I have spent a great deal of time testing and analyzing the ability of M5 timeframes to reduce the losses of even AAA trades on higher timeframe and this is typically what I see. In the second image I posted the same chart but with 5M. Notice how if I traded the 5M it would have allowed me to enter at a better place after the blow through? It scoop down then it followed through with a rejection of the 12 EMA! For lack of better names, I call it the Kostas 5M setup.(The teacher & trader of this method) And it would have been profitable. So to reduce your risk by leap and bounds and improve your entry with smaller SL, 5M can offer some assistance in achieving those goals.
Attached Image(s) (click to enlarge)
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Riding the order flow
  • #6,945
  • Dec 7, 2011 1:51am Dec 7, 2011 1:51am
Quoting Binyamin
There are a lot of peeps posting winners so let me post an interesting loser from yesterday.

EURCAD, H1 35/50, H4 10EMA and DP.
This was due to some good fundamental news from CAD side. Whatever may be the setup, when fundamentals takeover, our charts go haywire. We have to be alert for such possibilities and this is a good reminder.
"Put all your efforts in becoming effortless"
  • #6,946
  • Dec 7, 2011 3:13am Dec 7, 2011 3:13am
Quoting IamTHAT
This was due to some good fundamental news from CAD side. Whatever may be the setup, when fundamentals takeover, our charts go haywire. We have to be alert for such possibilities and this is a good reminder.
HI there, thank you heaps for your feedback. I would like to point out that the housing news from CAD came about 1.5 hours after I entered the trade. I got out b4 the news too.

Anyway just for anyones interest the tip of the blow through candle is actually the PPA of 2011/11/30. A very strong one in fact. Unless you are an insider I don't think it is easy to figure this out before hand....
Riding the order flow
  • #6,947
  • Dec 7, 2011 3:32am Dec 7, 2011 3:32am
Quoting Haydel
I was chatting with our fellow traders today, explaining what I’m currently doing to trade H1 10ema and H4 10ema consistently and profitably....
Haydel, Just wanted to share a trade that I was stalking based on your "Super Confluence" strategy.
EU at 0600 GMT: H4 Pivot; H1 10; M15 35 were the primaries, but also within the 15 pip box were RN, 1.3400; H1 50; M15 50; and a Demand Zone. That is 7 ...... the only problem was that I put a Pending order to go long there (and went to bed) and I was off by 4 tenths of a pip. If I would have caught it it would have been good for about 35 to the next higher RN. On the chart the yellow box is the 15 pips containing the above support patterns.
Will definitely keep watching for another one of those, thanks for the tip....!!!
Next time I see a setup like this playing out I plan on putting on a pot of coffee and staying up!!!!!
Let me know if I did not correctly implement/interpret your trade strategy.
I did use your 15 pip containment range on an M15 chart, but I noticed later you refer to that range for an H1 chart. Do you think this trade is OK for an M15 time frame and, if so, is the 15 pip range still hold, or should it be something less?
Thanks....
Attached Image (click to enlarge)
Click to Enlarge Name: SuperConfluence_12072011.jpg Size: 196 KB
  • #6,948
  • Dec 7, 2011 7:31am Dec 7, 2011 7:31am
Quoting gilben
I have establish a visual pip tracker indi, that show me status for current trade pips gain/loss and current daily accumulation of pips.

http://www.forexfactory.com/attachme...1&d=1323162055

To have better view of this indi, I suggest you got to the chart properties [F8] and un-check <Chart on foreground> option

http://www.forexfactory.com/attachme...1&d=1323163049

I would love any comments for it

gilben
***UPDATE FILE***
Attached File(s)
File Type: ex4 Pips tracking II.ex4   7 KB | 444 downloads
  • #6,949
  • Dec 7, 2011 7:31am Dec 7, 2011 7:31am
Quoting Binyamin
Notice how if I traded the 5M it would have allowed me to enter at a better place after the blow through? It scoop down then it followed through with a rejection of the 12 EMA!
Excellent post Bin. Would you have taken the pin at 13:30? If not, why?

Thanks.
  • #6,950
  • Dec 7, 2011 2:57pm Dec 7, 2011 2:57pm
Quoting funwithbux
...Let me know if I did not correctly implement/interpret your trade strategy.
I did use your 15 pip containment range on an M15 chart, but I noticed later you refer to that range for an H1 chart. Do you think this trade is OK for an M15 time frame and, if so, is the 15 pip range still hold, or should it be something less?...
You did very well funwithbux, that is what I look for. I use around 15 pips range when I trade H1 10ema in confluence with M15 35/50, and I use around 20 pips range when I trade H4 10ema in confluence with H1 35/50.

Just one thing, the important levels on Dance Setups are mainly MAs not the other levels, so, when measuring those 15 pips range, try to put the MAs on the middle of the range, and then see if the other Support/Resistance Levels are within those 15 pips range. I hope this is clear.

Please remember, that this idea is only a reference, you can stretch the ranges differently for every trade as you feel right according to your criteria, do not over-complicate things. Try to keep it simple. At the end these are 10 ema touches in H1 and H4 time-frames.

Happy trading.
  • #6,951
  • Dec 7, 2011 8:32pm Dec 7, 2011 8:32pm
Quoting screenname
Excellent post Bin. Would you have taken the pin at 13:30? If not, why?

Thanks.
Can you please state the pair, timeframe and is that time GMT? Or OAnda?
Riding the order flow
  • #6,952
  • Dec 7, 2011 10:05pm Dec 7, 2011 10:05pm
Quoting Binyamin
Can you please state the pair, timeframe and is that time GMT? Or OAnda?
I was replying to your post http://www.forexfactory.com/showthre...00#post5200700 where the pair is EURCAD, the time has already been adjusted to your broker's time on your chart. Was asking about your M5 fine tuning.
  • #6,953
  • Edited 11:49pm Dec 7, 2011 10:42pm | Edited 11:49pm
Quoting screenname
I was replying to your post http://www.forexfactory.com/showthre...00#post5200700 where the pair is EURCAD, the time has already been adjusted to your broker's time on your chart. Was asking about your M5 fine tuning.
I assume you mean this candle here which I boxed in blue. And your question was why I didn't take that.

Firstly, that area which I marked with a red line is an area of a major PPA- 2011/11/30 visible from the H4. Kostas even mention in the chat, if you are near an area which price can bounce(HTF MA, DP whatever) you wait for a 5M rejection of the area to scalp or you wait for a double top/bottom to trade the 5M. That Pin did not reject any important area, it was close but not close enough. My suspicion is, it tested the RN- 1.365, then turn back then it tested the next important area which is the PPA I mentioned b4 turning around.

The next thing is, I as a 5M NOOB have already started trading LIVE money since this week on the 5M setups, so I am cautious, I only trade rejections off 12EMA and 23EMA, if and only if it is AFTER a double top + scoop OR a bounce + scoop from an important level because I have been studying and demo trading these 2 well so I am confident in those setups.
Attached Image (click to enlarge)
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Riding the order flow
  • #6,954
  • Dec 8, 2011 3:22am Dec 8, 2011 3:22am
This is a question to all. The images at the bottom shows a setup for a 5M trade that occurred, The 1st image is the H1 of the EU showing the PPA acting as a resistance. So my strategy was, wait till price gets there and then go down to the M5 to enter at a scoop+rejection.

The 2nd image shows the scoop down + the rejection (yellow arrow). While waiting I felt that price was going to at least touch the DP so I preset in my head the Tp at DP. So I waited for the rejection. It came, problem is, this rejection went too far, too near the DP. Assuming a spread of 1.3 pips I would only have a TP of 2.5 pips at DP so I decided to let it pass.

Latter on as you can see, the price went right though the DP and would have given some nice pips. The question is, would you have traded the rejection anyway?????
Attached Image(s) (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 229 KB
Click to Enlarge Name: untitled1.JPG Size: 217 KB
Riding the order flow
  • #6,955
  • Dec 8, 2011 4:49am Dec 8, 2011 4:49am
Here's a video from Clay explaining how he uses multiple time frames to determine his trades.

(Note: There's an error in the commentary discussing a ping pong where he says D1 instead of H1)

Unzip and click on the JustaTestRunPaused.html file and it will run in your browser.

Attached File(s)
File Type: zip BB FlashBack Movies.zip   3.2 MB | 667 downloads
  • #6,956
  • Edited 6:16am Dec 8, 2011 5:47am | Edited 6:16am
Here is a M5 setup I took today. I don't want to disturb the flow of the chat room so I will post it here. PPA, obvious from H4, followed by a M5 scoop and rejection. Entry point is at the M5 yellow arrow. I started M5 live on monday, I've made 6 trades since and haven't have a losing trade yet with this very same method. So far so good. I took 8 pips at the M5 35/50, I could have gotten more but I am still getting acquainted with this technique.
Attached Image(s) (click to enlarge)
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Riding the order flow
  • #6,957
  • Dec 8, 2011 2:26pm Dec 8, 2011 2:26pm
Hey guys, seems EU has reached the level that we were expecting, but a little late, and not properly on the DS1... my charts show nice confluence tho'. Let's see how it develops in this hour.
Attached Image (click to enlarge)
Click to Enlarge Name: EU_Haydelcall.jpg Size: 129 KB
Flp. 4:13
  • #6,958
  • Dec 12, 2011 8:15pm Dec 12, 2011 8:15pm
Hope it's ok to post this here. In the chat room Binyamin mentioned his frustration (which many share) about debugging in MT4. I know there are quite a few dancers who are into programming and I just accidentally found this thread a moment ago:

http://www.forexfactory.com/showthread.php?t=245303

Haven't tried it yet but since hanover said it had "made my own job much easier" I believe it must be good.

Enjoy.
  • #6,959
  • Dec 12, 2011 10:33pm Dec 12, 2011 10:33pm
Watch it online here!
  • #6,960
  • Dec 12, 2011 10:38pm Dec 12, 2011 10:38pm
Quoting bigtent
Watch it online here!
Thanks BT... the interactive room has payed off... bringing original Dancers together in a great way... I think we owe it all to you Sr. thanks for the efforts and dedication
Flp. 4:13
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