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CHOROS System

  • #6,981
  • Dec 16, 2011 5:05am Dec 16, 2011 5:05am
Quoting kk007
Still remember the axiom: flat 35/50, no trade.
KK you are right about that. However they are beginning to turn down and they are together. I remember reading in the Choros thread that this is a good setup if the other factors are in place. There is probably a link in the TOC doc.

Keep at it buddy! Clay said in the chat room this morning that everyone goes through this. Don't ever give up!
Luck occurs when preparation meets with opportunity.
  • #6,982
  • Dec 16, 2011 11:20am Dec 16, 2011 11:20am
Can someone provide me with a link to this room?
  • #6,983
  • Dec 16, 2011 4:59pm Dec 16, 2011 4:59pm
Quoting 786 trading
I am waiting for touch trade here for short.. it did not toch.. very close to it. May be I missed the trade.. Should we wait exact touch?
This is what i don't understand also. WHen trying to make 10EMA trade with a steep angle, price never touches the 10EMA. However, it goes with trend and right at the next candle ma touches the previous candle we talked about. So how do we make 10ema trade?

Just confusing...
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Good Hunting!
  • #6,984
  • Dec 16, 2011 6:33pm Dec 16, 2011 6:33pm
Quoting Arokh Dark
This is what i don't understand also. WHen trying to make 10EMA trade with a steep angle, price never touches the 10EMA. However, it goes with trend and right at the next candle ma touches the previous candle we talked about. So how do we make 10ema trade?

Just confusing...
It looks like you are talking about the Serpent's Tongue! Your pic is a perfect setup - a few minutes later, if price goes down, the MA will then move down to touch the wick of that candle. But it does not touch when price is at that level, so by now you've missed the trade!

I had the same question once, and there are good answers in the Choros thread. Here they are to save you some search time.

Originally, the answer was that you can just estimate an extension of the MA and where the touch will take place. I used to draw a short trendline to extend the MA at the current angle, and watched for price to touch the line.

Then someone developed a great little indicator that extends the MA at its current angle. I've attached it here with a pic showing an example. It's called HCISYIYKM.mq4 (How Can I Shoot You If You Keep Moving).

You just set the TF and period of the MA and you're done. I've found it very useful.

Enjoy!
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.jpg Size: 53 KB
Attached File(s)
File Type: ex4 HCISYIYKM.ex4   16 KB | 437 downloads
Luck occurs when preparation meets with opportunity.
  • #6,985
  • Dec 17, 2011 12:35am Dec 17, 2011 12:35am
Quoting earret
Can someone provide me with a link to this room?
Sure but after you post some intelligent post. This unwritten rule was set by the room's admins.
Riding the order flow
  • #6,986
  • Dec 17, 2011 10:18am Dec 17, 2011 10:18am
Quoting IamTHAT
Can you please give more info. on this indicator or whatever?
Found it on mql4.com for it. All the info is there, Gros asked for it on the chat.

More info here
  • #6,987
  • Dec 18, 2011 5:36pm Dec 18, 2011 5:36pm
Dance 5 Chart

View on line

Message from Clay:

A little surprise over the weekend. Been working on the Dance for nasty markets like this and I believe I have come up with something pretty good. We all use the three chart setup, which was meant to have "confirmation" on three charts for a trade, but this market is really nasty so I setup 5 charts per currency to see what would happeh and discovered that if I wait for a trade to "line up" on D1, H1, take my trade on H4 and fine tune when M15 and M5 agree, the trades almost always work out.

Still having problems with the video recorder on my PC, the audio shuts off half way through, but I think you get the idea. Here's the link.

http://dl.dropbox.com/u/51206458/Dance%205%20Chart.zip

Good luck,, God bless.
  • #6,988
  • Dec 19, 2011 6:30pm Dec 19, 2011 6:30pm
I can not open the link to the chat room for some reason, does anyone has the same problem?
  • #6,989
  • Dec 20, 2011 3:53am Dec 20, 2011 3:53am
Enjoy!

Live H4 Scoop trade

Follow up trade
  • #6,990
  • Dec 20, 2011 5:14am Dec 20, 2011 5:14am
hello guys, had few rough days lately in terms of my trading, mostly to do with overleveraging
although i am taking it easy for the next two weeks because of christmas, i am still devoted to dancing!

could somebody please PM me the new chat room link?

all the best!
  • #6,991
  • Dec 20, 2011 6:45am Dec 20, 2011 6:45am
Quoting bigtent
Enjoy!

Live H4 Scoop trade

Follow up trade

Thank You Bigtent for these videos !
I have not the time to follow neither the charts nor the chat, so in this way you give me and other people the possibility to see a real Master at Work !

My BIG respect and THANKS for Clay !

For several reasons in my mind which I do not want to mention now, except for this one which I would like to say:
I think you will ever see a VERY VERY FEW of Professional Traders with his experience (and account I guess) still being interested in showing you (in this order)

1) LIVE Trades,

2) including a STOP LOSS (which is in my opinion the biggest Lesson in those videos, at least for me),

3) at that time in the Night for him.

Rules, Psichology, Trade Management.
All in there.

Thank You Sir for your Time and Effort.
  • #6,992
  • Dec 20, 2011 1:14pm Dec 20, 2011 1:14pm
I'm starting to think that i am stupid, guys... because i DO NOT understand anything in this strategy, i make a lot of wrong trades in the simulator and when i start to think what i did wrong i start bleeding from my eyes.... just letting you know.
  • #6,993
  • Dec 21, 2011 12:26am Dec 21, 2011 12:26am
Quoting trashPIP
I'm starting to think that i am stupid, guys... because i DO NOT understand anything in this strategy, i make a lot of wrong trades in the simulator and when i start to think what i did wrong i start bleeding from my eyes.... just letting you know.
If it doesn't work for you try other strats on the forum that might work for you. There are more than 1 way to make it in trading.
Riding the order flow
  • #6,994
  • Edited 8:17pm Dec 21, 2011 5:50am | Edited 8:17pm
Wow did you see the beautiful EU setups that I just missed! GRR!

A PERFECT H1 bounce, confluent with H4 10 and DP. At the moment of entry it would have looked like big momentum south, so you would have had to just close your eyes and jump in, and trust the setup. But it would have been worth up to 40 pips!

It immediately went up to touch the M15 35, M5 12, and m1 35. It's still headed south now, probably at least to the DP.

Right now I'm focusing more on setting up MT4 and charts, reading FX stuff, setting my strategy etc., so I wasn't watching with a mind to trade this morning. I hope someone was!

That would have made a nice Christmas present, eh?

BUT NO WORRIES! I know there are more setups coming soon...

EDIT: I've updated the pic to show the confluences better, and to show the 35/50 turning down on M15.
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Luck occurs when preparation meets with opportunity.
  • #6,995
  • Dec 21, 2011 8:07am Dec 21, 2011 8:07am
Quoting trashPIP
I'm starting to think that i am stupid, guys... because i DO NOT understand anything in this strategy, i make a lot of wrong trades in the simulator and when i start to think what i did wrong i start bleeding from my eyes.... just letting you know.
If it is any help I know how you feel. This is not really a complicated strategy, but it is very easy to make it complicated. I am nowhere near an expert in this strategy, but I have gone through what you are feeling.
Someone, I think Clay, recommended take just one entry and trade it until you master it. So pick one: touches on either the 10 or the 35/50 or Constrainments and just focus on those. Try it on just one pair, for a couple of hours a day for a week and you might just surprise yourself. I know I did. After just a few days I started to "see" what was there all along, but for whatever reason I was missing it.
Of course, the other thing you MUST accept is that no strategy will be a winner on every trade. The goal is to either have more winners than losers or bigger winners than losers.
Good Luck and stick with it
  • #6,996
  • Dec 21, 2011 10:55am Dec 21, 2011 10:55am
Quoting AlienFrog
Wow did you see the beautiful EU setups that I just missed! GRR!


I am feeling a little annoyed with it too. I have plan to stop trading from 15th of December to 5th of January. So today I just watch that trade come and go. In fact there were 3 trades like that today on various pairs at different times. Next year I will trade until Christmas.
Riding the order flow
  • #6,997
  • Dec 21, 2011 10:57am Dec 21, 2011 10:57am
Quoting funwithbux
If it is any help I know how you feel. This is not really a complicated strategy, but it is very easy to make it complicated. I am nowhere near an expert in this strategy, but I have gone through what you are feeling.
Someone, I think Clay, recommended take just one entry and trade it until you master it. So pick one: touches on either the 10 or the 35/50 or Constrainments and just focus on those. Try it on just one pair, for a couple of hours a day for a week and you might just surprise yourself. I know I did. After just a few days I started...
I couldn't have said it better. While I didn't know any setup in the beginning I tried to trade everything. Looking back, it was a total waste of my time.
Riding the order flow
  • #6,998
  • Dec 21, 2011 7:36pm Dec 21, 2011 7:36pm
Quoting Binyamin
I am feeling a little annoyed with it too. I have plan to stop trading from 15th of December to 5th of January. So today I just watch that trade come and go. In fact there were 3 trades like that today on various pairs at different times. Next year I will trade until Christmas.
Flat M15.35/50 = No trade.
(according to what Kostas1 has kept reminding me in the past when I lost, you can check the thread history)

Anyway, I don't know what is good Choros setup or bad Choros setup after 1/2 year of trading with it.

.
  • #6,999
  • Dec 21, 2011 8:58pm Dec 21, 2011 8:58pm
Quoting kk007
Flat M15.35/50 = No trade.
(according to what Kostas1 has kept reminding me in the past when I lost, you can check the thread history)

Anyway, I don't know what is good Choros setup or bad Choros setup after 1/2 year of trading with it.

.
The 35/50 was NOT flat, they had been turning down for the last 3 bars. Even though they were not steep, those 3 bars made a definite downtrend, clearly reversing the previous uptrend. The 35 and 50 MAs were also close together - only 4.5 pips apart. I have edited the pic in the previous post to show these things.

On the first setup it would have taken some guts to pull the trigger, because when the bar got close to the DP it would have looked like a big fat red-body down bar. But as Dancers, we must realize that this is what touch trades ALWAYS look like.

The DP is a powerful S/R line, as we've discussed many times in the thread and the chat room. And if you look at M5 and M1 you will see that it was a quick move, the kind that often reverses at a S/R line.

I saw this setup only minutes after the reversal, but it had already retraced about 15 pips - too late to enter. If I had seen it 5 minutes earlier, approaching the DP, and the H1 35/50, I would have been terrified to see that big red bar but I would have definitely jumped in!

The second setup is PERFECT CHOROS. The rules say one or 2 bars retrace max. I like 2 bars retrace better than 1, but this time the pinbar was part of the retrace, so it was kind of more than a 1 bar retrace.

AND... Here's what makes it so perfect:

At 6:21am EST the M15 candle was 6 minutes old. On M15 it touched the 35 and reversed, M5 touched the 12 (kind of a magic MA, watching Kostas use it) and reversed, and, just like Kostas has told us to wait for so many times: M1 gave a rejection bar right off the 35. I tell you I would have closed my first long position and immediately opened a short. Yes I would have been nervous while it was happening in real time, but I would have trusted the setup and done it.

Not only this, but the first trade target TP would logically be the first S/R level, which in this case was the M15 35. That was 40 pips. The second trade's target would have been the DP for another 40 pips. Price hesitated at the close of the next M15 bar, so I probably would have chickened out with 30 pips.

IMHO, it doesn't get much better than this. Also, check the TOC doc, and I think you will find info on trading when the 35/50 is turning.
Luck occurs when preparation meets with opportunity.
  • #7,000
  • Dec 21, 2011 9:09pm Dec 21, 2011 9:09pm
The setup trades against a perfect M15 pinbar and a reaction off H1.35/50.
If it is a good setup, perhaps I am too stupid.
Most importantly, if you think M15.35/50 is not flat at the moment of triggering, I have no further comment.

Quoting AlienFrog
The 35/50 was NOT flat, they had been turning down for the last 3 bars. Even though they were not steep, those 3 bars made a definite downtrend, clearly reversing the previous uptrend. The 35 and 50 MAs were also close together - only 4.5 pips apart. I have edited the pic in the previous post to show these things.

On the first setup it would have taken some guts to pull the trigger, because when the bar got close to the DP it would have looked like a big fat red-body down bar. But as Dancers, we must realize that this is what touch trades ALWAYS...
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