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CHOROS System

  • #7,101
  • Jan 9, 2012 9:06am Jan 9, 2012 9:06am
Quoting Binyamin
Hey folks I did just like to ask a question. Choros is the most intensive method I have ever traded that challenges both concentration and patience. More than a few times I have missed taking good trades while being on the go like from office to home or dinner with mates/movie with mates. I am thinking of buying an Ipad or a Smasung Galaxy. Any dancers here can recommend anything along that line? It doesn't make sense not to get one especially when it doesn't take long at all for me to pay it back with choros trades.
Binyamin - Everyone I know who has an iPad loves it. I used one for the first time a couple of weeks ago, and it was awesome.
Jack
Writer, currency trader, madman
  • #7,102
  • Jan 9, 2012 9:09am Jan 9, 2012 9:09am
Binyamin - You might also take a look at the new dual-screen Acer Ionia notebook computer. Just a thought.
Writer, currency trader, madman
  • #7,103
  • Jan 9, 2012 9:16am Jan 9, 2012 9:16am
Quoting Binyamin
Hi JB, I know you from the JCL days. Yes I was there helping to develop the EA there. I will decline for the same reason. Plus I don't think my trading career is worth even a part of a book. Well at least not yet. Even if I am, I won't be able to bear the burden of being a house hold name in trading EVER so no thanks. (I would rename myself AnonymousTrader given a chance)

However if you search the forum there are at least a few folks I've come across that seems to be good traders that have explicitly express that they aim to be the best in the...
Bin - Yes, I thought that was you (from JCL). By the way, Jordan has a pretty cool little scalping system himself now. Anyway, it was actually your mentioning Choros that brought me here - thanks much for the heads up. I like the simplicity of this system, and the fact that it affords plenty of low-risk opportunities. Any event, good to "see" you.
Jack
Writer, currency trader, madman
  • #7,104
  • Jan 9, 2012 9:21am Jan 9, 2012 9:21am
"So if I move to BE early, and price retraces and stops me out, then goes my way, at least I followed my rules, I did not lose money, and there will always be another trade. - AlienFrog"

Exactly. As long as you don't LOSE money, there are always more opportunities to MAKE money. Of course I regret leaving money on the table sometimes, but I regret needless losses even more.
Writer, currency trader, madman
  • #7,105
  • Jan 9, 2012 1:06pm Jan 9, 2012 1:06pm
Quoting gilben
It will hide lower TF MAs on your specific chart.
Hello and a Happy new year to all, It is very nice to see the thread developing and continuing to attract new traders.

Gilben,

Could we adapt the scripts so it will not hiding the lower tf, Choros thread is mainly in the 15 min but my aproach is different and It will be nice when we have the indicators attached to the D1 tf to be able to watch the 4h as well.

thanks in advance

HAPPY TRADES TO ALL CHOROS THREAD FANS
  • #7,106
  • Jan 9, 2012 11:17pm Jan 9, 2012 11:17pm
Quoting K_Minos
Could we adapt the scripts so it will not hiding the lower tf, Choros thread is mainly in the 15 min but my aproach is different and It will be nice when we have the indicators attached to the D1 tf to be able to watch the 4h as well.
KM,
It is possible indeed, but I find no use for it, mainly because the main signal chart by definition is M15.

There is also a technical reason, you wouldn't want your H4 and D1 charts be loaded with many slow MA from LTF, which are very similar period values.

Here some samples to help you understand why you wouldn't want it:
50 of 15M is D1 equivalent = 50/24/4 = 0.25.
50 of H1 is D1 equivalent = 50/24 = 2.08
and so on...

as you can see there is no use for having such slow MAs on your chart.
  • #7,107
  • Edited 8:36am Jan 10, 2012 7:15am | Edited 8:36am
I wrote this program for myself and i found it useful. There were some our guys expressing interest in the room so here it is.

STEP 1: Enable DDE SERVER IN MT4

Goto MT4- Tools-Options-Server--->Check enable DDE server(Check box)

STEP 2: OPEN ALERT.XLS

Just open the spreadsheet that is attached here and the program will run by itself.

The program should work for most pairs if not all but it will not work for gold and silver. If you want I can code it in.

The program is written in VBA, it checks the prices every 1 second. If the price is near the zone you specify, a beep sound will be made every 1 second. However emails from VBA via outlook can also be sent but it is not programmed in there. If you need it, let me know I can code that for you.(I don't need it that's why I didn't code for it.)


To view the code open that excel sheet and press alt+F11. Pls report bugs and test it b4 you use it. I have only been using it with Alpari UK but it should work for ALL 5 digit brokers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Input.jpg Size: 179 KB
Click to Enlarge Name: Settings.jpg Size: 180 KB
Attached File(s)
File Type: zip Alert.zip   24 KB | 600 downloads
Riding the order flow
  • #7,108
  • Jan 10, 2012 8:40am Jan 10, 2012 8:40am
Bought eur/usd at 1.2785 off the touch of the 50 EMA...a bit dicey, but I'm only risking 6 pips, so I figured why not try it.
Writer, currency trader, madman
  • #7,109
  • Jan 10, 2012 8:42am Jan 10, 2012 8:42am
Gee, that didn't last long. ROFL
Hey, it's six pips, it didn't bankrupt me.
What can I say? - I'm a gambler at heart.
Writer, currency trader, madman
  • #7,110
  • Jan 10, 2012 8:54am Jan 10, 2012 8:54am
But I rode it to BE instead of the 7 profit...
  • #7,111
  • Jan 10, 2012 10:12am Jan 10, 2012 10:12am
It's okay - I turned right around and bought gbp/usd at 1.5472 - I'm sitting here with a stop on it at 1.5484 now, so I'm guaranteed to be at least 6 pips net to the good for the day.

Sometimes following a stupid trade with another equally stupid trade works out. (But it's got to be pretty much an equally stupid trade - it can't be a significantly more stupid trade, or a lot less stupid trade.)
Writer, currency trader, madman
  • #7,112
  • Jan 10, 2012 11:02am Jan 10, 2012 11:02am
It has been real tough for me to find setups today. 1 winner on USDCAD and 1 loser on AUDUSD. Overall still a small positive for today, but of course it would have been much better had I not taken the loser ...

Here's my winner for today:
Shorted at Daily S1 with M15 35/50 and H1 10 nearby. Was good for +25, exited near Daily S2.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 11-1-2012.jpg Size: 393 KB
  • #7,113
  • Jan 10, 2012 1:51pm Jan 10, 2012 1:51pm
Setup:
35H1+10H4+RN+DP

I took this trade yesterday and I don't really know what went wrong. I entered after the M5 pinbar. I thought this could be a good opportunity because it was the touch of 10 H4 after a long time. Anybody has any idea why I should have stayed away from this (Maybe the M5 pinbar which at the time appeared as a possible double top was not good enough) ?
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.gif Size: 353 KB
  • #7,114
  • Jan 10, 2012 5:04pm Jan 10, 2012 5:04pm
Quoting gilben
KM,
It is possible indeed, but I find no use for it, mainly because the main signal chart by definition is M15.

There is also a technical reason, you wouldn't want your H4 and D1 charts be loaded with many slow MA from LTF, which are very similar period values.

Here some samples to help you understand why you wouldn't want it:
50 of 15M is D1 equivalent = 50/24/4 = 0.25.
50 of H1 is D1 equivalent = 50/24 = 2.08
and so on...

as you can see there is no use for having such slow MAs on your chart.
Hi

When it comes to SMA yes the calculation is correct not with EMA, indeed the main signal chart is the 15M but for the few of us that are living in the UK and have to work when the party is on then the higher time frames are giving fewer but very strong signals.

So by looking at a day chart at night I can identify areas of interest, and because the signals are fewer (3 to 4 good setups a week) I'm looking more pairs and is time consuming, I'm looking for ways to have a glance first and then look the pairs of interest in detail.

I do not want my charts to be loaded with faster MA's as they are only there to fine tune the entry and to give the signal for the exit I was only looking for the Day and 4H chart.

Thanks

Happy Trading to all
  • #7,115
  • Jan 10, 2012 11:23pm Jan 10, 2012 11:23pm
Quoting K_Minos
I do not want my charts to be loaded with faster MA's as they are only there to fine tune the entry and to give the signal for the exit I was only looking for the Day and 4H chart.
Dear Minos,

In that case it would be very easy to load equivalent MA
Use this simple formula then load it to your daily chart:

H4 equivalent to D1 = {needed Ma} / 6
H1 equivalent to D1 = {needed Ma} / 24
H1 equivalent to H4 = {needed Ma} / 4

and so on....

good luck
  • #7,116
  • Jan 10, 2012 11:41pm Jan 10, 2012 11:41pm
Quoting Leone
Setup:
35H1+10H4+RN+DP

I took this trade yesterday and I don't really know what went wrong. I entered after the M5 pinbar. I thought this could be a good opportunity because it was the touch of 10 H4 after a long time. Anybody has any idea why I should have stayed away from this (Maybe the M5 pinbar which at the time appeared as a possible double top was not good enough) ?
Leaone,

When you choose your setup, you should consider all TF setups in sight.
Yes, Price had touch H1.35 but I considered it to be flat, While the main Signal M15 showing strong momentum, with high and sharp slopes of MA.

After all, your setup was good, (its not a AAA setup) but you got agood M5 Confirmation: twice retest of RN with M5 pinbars + M15 closes below RN. But sometimes setups just fail. Remember our job is about probability.

My lesson from your trade would be:
1. Looking for all TF telling the same story.
2. Keeping SL tight above RN or above high wick at most
  • #7,117
  • Jan 11, 2012 12:12am Jan 11, 2012 12:12am
Quoting londonhearts
It has been real tough for me to find setups today. 1 winner on USDCAD and 1 loser on AUDUSD. Overall still a small positive for today, but of course it would have been much better had I not taken the loser ...

Here's my winner for today:
Shorted at Daily S1 with M15 35/50 and H1 10 nearby. Was good for +25, exited near Daily S2.
Excellent trade!!!
  • #7,118
  • Jan 11, 2012 1:17am Jan 11, 2012 1:17am
Thank you, Gilben, for your point of view.
  • #7,119
  • Jan 11, 2012 2:01am Jan 11, 2012 2:01am
Quoting londonhearts
It has been real tough for me to find setups today. 1 winner on USDCAD and 1 loser on AUDUSD. Overall still a small positive for today, but of course it would have been much better had I not taken the loser ...

Here's my winner for today:
Shorted at Daily S1 with M15 35/50 and H1 10 nearby. Was good for +25, exited near Daily S2.
Perfect short londonhearts!!

I read your charts already. May I know, at which point did u decide to short and which tf did u thru b4 puling the trigger? Regards.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad 1hr.gif Size: 25 KB
Click to Enlarge Name: ucad m15.gif Size: 24 KB
Click to Enlarge Name: ucad m5.gif Size: 20 KB
Click to Enlarge Name: ucad m1.gif Size: 18 KB
  • #7,120
  • Jan 11, 2012 2:23am Jan 11, 2012 2:23am
Ucad, Can we look at H1 and see if PA test the 10 and RN b4 shorting this pair?
Attached Image (click to enlarge)
Click to Enlarge Name: ucad to test rn and 10 at h1.gif Size: 22 KB
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