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CHOROS System

  • #7,301
  • Feb 23, 2012 3:16pm Feb 23, 2012 3:16pm
Quoting ccreative
How you improve your psychological factor like discipline etc?
Sorry, but this is the only area that I can't help you with. This is a fight that you will have with yourself only. If you win your inner demons then you will have succeeded. The only advice I can give is "Don't give up". When you think everything is lost, you will have to find the courage to come back one more time. There is no magic system in forex, you will have to pay the dues which are time in front of the screen and tuition money (i.e. losses). But when it's time the rewards are satisfying and worth the trouble.....
  • #7,302
  • Feb 23, 2012 8:45pm Feb 23, 2012 8:45pm
Quoting kostas1
Sorry, but this is the only area that I can't help you with. This is a fight that you will have with yourself only. If you win your inner demons then you will have succeeded. The only advice I can give is "Don't give up". When you think everything is lost, you will have to find the courage to come back one more time. There is no magic system in forex, you will have to pay the dues which are time in front of the screen and tuition money (i.e. losses). But when it's time the rewards are satisfying and worth the trouble.....
Thank you Kostas
  • #7,303
  • Feb 24, 2012 1:17am Feb 24, 2012 1:17am
Quoting kostas1
Bin,
Thanks heaps. I have a lot to learn......

Anyway I will share something that have helped me. I use microsoft office one note to record every trade I take whether it be win or lose and write down notes and lesson learned etc. I found that writing up a little report at the end of the day for every trade I take have helped me a great deal.
Attached Image (click to enlarge)
Click to Enlarge Name: 7108022 Interbank FX Trader 4 - Demo Account - AUDUSD,H1_2012-02-24_15-12-00.jpg Size: 208 KB
Riding the order flow
  • #7,304
  • Feb 24, 2012 1:20am Feb 24, 2012 1:20am
Quoting Binyamin
Thanks heaps. I have a lot to learn......

Anyway I will share something that have helped me. I use microsoft office one note to record every trade I take whether it be win or lose and write down notes and lesson learned etc. I found that writing up a little report at the end of the day for every trade I take have helped me a great deal.
I was using Note at my previous work as an unofficial record book. Very very good idea to use for trading. It will help you a lot.
  • #7,305
  • Feb 24, 2012 1:21am Feb 24, 2012 1:21am
Quoting ccreative
Hi Kostas.. I read this thread http://www.forexfactory.com/showthread.php?t=260052
seems you almost broke before you use CHOROS.
my questions... How you improve your psychological factor like discipline etc?
Plan your trade, trade your plan. Should you break your plan punish yourself physically. Get someone to whack your buttocks with a broom stick or if its my preference, take a shot of undiluted vinegar. Its healthy and it won't kill you, it will only hurt you.

Should you resist drinking vinegar when you didn't trade your plan. Imagine half your account getting wiped out.

The point is to let your mind associate pain with breaking rules so that you won't feel any urge to do it at all.
Riding the order flow
  • #7,306
  • Feb 24, 2012 2:04am Feb 24, 2012 2:04am
Quoting Binyamin
Plan your trade, trade your plan. Should you break your plan punish yourself physically. Get someone to whack your buttocks with a broom stick or if its my preference, take a shot of undiluted vinegar. Its healthy and it won't kill you, it will only hurt you.

Should you resist drinking vinegar when you didn't trade your plan. Imagine half your account getting wiped out.

The point is to let your mind associate pain with breaking rules so that you won't feel any urge to do it at all.
hahaha... thank you Binyamin
  • #7,307
  • Feb 25, 2012 3:05pm Feb 25, 2012 3:05pm
Quoting Binyamin
Thanks heaps. I have a lot to learn......

Anyway I will share something that have helped me. I use microsoft office one note to record every trade I take whether it be win or lose and write down notes and lesson learned etc. I found that writing up a little report at the end of the day for every trade I take have helped me a great deal.
Thanks MUCH for that excellent tip.
Writer, currency trader, madman
  • #7,308
  • Feb 27, 2012 3:13am Feb 27, 2012 3:13am
EU enter after 35/50 rejection M15
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-27_1703_eu_35_50_rejection.png Size: 32 KB
  • #7,309
  • Feb 27, 2012 3:27am Feb 27, 2012 3:27am
eu tp
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-27_1723_eu_tp.png Size: 26 KB
  • #7,310
  • Feb 27, 2012 4:47am Feb 27, 2012 4:47am
Hi everyone, I am new at forex and I have spent the last week or so reading and studying both dance manual and choros thread. Thank you clay and kostas in making this system possible.

I understand the theory behind touch, containment, and confluence and I am able to recognize them in charts that others have posted and I would understand their entries. I can also spot the patterns or signals in history charts but when it comes to live I seem to have a problem finding winning entries.

I do not have any screen shot right now but for example I would see a large movement and as soon as I see signs of pull back I would be ready to enter as PA touches. Is this the correct way? Or do I end up seeing what I want to see and entering bad positions.
  • #7,311
  • Feb 27, 2012 5:33am Feb 27, 2012 5:33am
Here is another problem I have with touch trades, as seen in the attachment I was waiting for the touch on 10ma and even had my SL and TP ready all I had to do was press submit on the moment it touches, but it never went high enough and price quickly dropped back down and 10ma also went lower resulting in a touch which could've been a 12+ pip winner.

What can we do to avoid missing out on winning trades like this? Do we just write it off as bad luck and wait for the next chance?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 23 KB
  • #7,312
  • Feb 27, 2012 7:27am Feb 27, 2012 7:27am
Biinyamin - Thanks again, although now, of course, I have to learn how to use a new piece of software since, until you mentioned it, I'd never even LOOKED at MS One Note.
Writer, currency trader, madman
  • #7,313
  • Feb 27, 2012 10:18am Feb 27, 2012 10:18am
Quoting SnailRoll
Here is another problem I have with touch trades, as seen in the attachment I was waiting for the touch on 10ma and even had my SL and TP ready all I had to do was press submit on the moment it touches, but it never went high enough and price quickly dropped back down and 10ma also went lower resulting in a touch which could've been a 12+ pip winner.

What can we do to avoid missing out on winning trades like this? Do we just write it off as bad luck and wait for the next chance?
Hi and Welcome. Be near the computer when it is trading time. Or have an alarm that beeps every 10 minutes so you go through your charts systematically.

Do read through this thread from the beginning as much as you can.
Riding the order flow
  • #7,314
  • Edited 6:36pm Feb 27, 2012 1:11pm | Edited 6:36pm
Quoting SnailRoll
Here is another problem I have with touch trades, as seen in the attachment I was waiting for the touch on 10ma and even had my SL and TP ready all I had to do was press submit on the moment it touches, but it never went high enough and price quickly dropped back down and 10ma also went lower resulting in a touch which could've been a 12+ pip winner.

What can we do to avoid missing out on winning trades like this? Do we just write it off as bad luck and wait for the next chance?
1.This strategy provide many signals in a session, missing one 10 touch is not a big deal, be patient and you will get one sooner or later.
2.There were many eu 10 touch today, the one you missed was not the best, there was one 10 + Daily Pivot confluence at 9am, and another 10 + Round Number 1.3400 at 1pm, both are better trades in my opinion. I am not saying you should take these, I just want to illustrate that there will always be another trade that can net you some pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 27 KB
  • #7,315
  • Feb 28, 2012 12:25am Feb 28, 2012 12:25am
I have a question about lot size, if I plan to risk per trade a fixed 1% my lot size will depend on my SL. The dance manual states that some cases you might use a tighter SL, does that mean we will use a larger lot size?

Since I am using EasyOrder everything is calculated for me, if I use a 6pip SL instead of 12pips I will have double the lot size while still risking 1%, is this correct? Or should I have lot size for 1% risk with 12 pips and maintain the same lot size even when the trade calls for a 6 pip SL?
  • #7,316
  • Feb 28, 2012 4:20am Feb 28, 2012 4:20am
Also here is a situation I just experienced, what is wrong with this m15 10 first touch highlighted. The bar wasn't a pin when I entered.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
  • #7,317
  • Feb 28, 2012 4:51am Feb 28, 2012 4:51am
Quoting SnailRoll
Also here is a situation I just experienced, what is wrong with this m15 10 first touch highlighted. The bar wasn't a pin when I entered.
Dear Mr Snail :-)

Looking over your trade, I see very loud warning alarms shouting not to currently trade GU.
1. GU is not in a clear trend - if its show any direction sentiment/momentum it would be to short. It is seen better by the H4/H1 TF. If HTF and M15 TF not aligned with the same story telling, it possibly to be risky to trade.
2. See my comments on the attached chart capture. too many rules were broken there.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 28.2.jpg Size: 168 KB
  • #7,318
  • Feb 29, 2012 5:25pm Feb 29, 2012 5:25pm
Quoting SnailRoll
Also here is a situation I just experienced, what is wrong with this m15 10 first touch highlighted. The bar wasn't a pin when I entered.
Also, Snail, that is NOT the FIRST touch of the 10ma on that chart - it's about the 20th touch.
Welcome aboard - keep asking questions.
Writer, currency trader, madman
  • #7,319
  • Feb 29, 2012 5:30pm Feb 29, 2012 5:30pm
Question for Kostas, Binyamin, anyone else who's been trading this for awhile: What's the highest number of consecutive losses you've had IN THE SAME PAIR? My thought is that while one might experience several consecutive losing trades across various pairs, that if one sticks to the strictest setups, it's unlikely to have several consecutive losses in any one pair.

And therefore, I was wondering if you've ever considered martingaling this strategy within each pair? - That is, doubling down after a loss in any given pair, for, say, a 3 or 4 "bet" series.
Writer, currency trader, madman
  • #7,320
  • Feb 29, 2012 5:32pm Feb 29, 2012 5:32pm
1st touch 10 here:
Attached Image
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