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CHOROS System

  • #7,321
  • Mar 1, 2012 1:05am Mar 1, 2012 1:05am
Quoting jbmaverick
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...
Haven't really counted my performance per pair. While I was focusing to different pairs at different times (initially GU then EU then both EU/GU and lately EU/GU/AU) the only conclusion is that with time performance was getting better and better. This makes sense since with CHOROS it was the first time that I focused in just one method, instead of jumping around between trading methods.
Martingaling was something that I considered early on, but after studying on the subject I decided that it was just a method to loose your money faster.....
  • #7,322
  • Mar 2, 2012 8:02am Mar 2, 2012 8:02am
Quoting kostas1
Haven't really counted my performance per pair. While I was focusing to different pairs at different times (initially GU then EU then both EU/GU and lately EU/GU/AU) the only conclusion is that with time performance was getting better and better. This makes sense since with CHOROS it was the first time that I focused in just one method, instead of jumping around between trading methods.
Martingaling was something that I considered early on, but after studying on the subject I decided that it was just a method to loose your money faster.....
How have you done on eu/gu? I've always found that to be a pair that notoriously makes huge counter-trend spikes...but I've never really applied the Dance strategy to it - traded higher time frames, like the hourly.
Writer, currency trader, madman
  • #7,323
  • Mar 2, 2012 8:06am Mar 2, 2012 8:06am
I've also wondered about filtering trades by only trading with the overall trend as determined by the daily chart. I'm thinking that would significantly limit trades - I mean, that would mean taking no long trades if, say, eur/usd is in an overall downtrend, even if it's obviously a down day...but I'm thinking that one might be likely to catch significantly bigger wins if trading in line with the overall trend.

Just a thought.
Writer, currency trader, madman
  • #7,324
  • Mar 2, 2012 8:09am Mar 2, 2012 8:09am
Quoting Kelisa
1st touch 10 here:
Yeah, what kelisa said.
Writer, currency trader, madman
  • #7,325
  • Mar 3, 2012 7:33am Mar 3, 2012 7:33am
Quoting kostas1
Haven't really counted my performance per pair. .....
Might be worth tracking - it's entirely possible that this strategy performs better in some pairs than others, as each pair does tend to have its own patterns of movement.
Writer, currency trader, madman
  • #7,326
  • Mar 5, 2012 6:26am Mar 5, 2012 6:26am
Hi,
i've used choros system a while back.. it's been pretty simple and straightforward to implement so far.. right now i'm back to studying it and using it to do some compounding of my account.. is anyone still using this method with steady results?
btw i saw another thread choros interactive.. is is still active? no posts so far from there this week..
  • #7,327
  • Mar 5, 2012 12:43pm Mar 5, 2012 12:43pm
I use Choros system last months
not full time (because my job limits my trading time)
and I have improve my results very much.
I am not consistent green yet but I have stop
loosing money unduly.
I wish I will reach the level of some other
dancers some day - patient is the key.
I can see very big advance progress in some dancers here in this thread
(from their posts) last year.
It needs (quality ) screen time as Kostas said and
if this system harmonize with your personal style
can give results. I believe this very strong.
The choros interactive thread is not active anymore.
  • #7,328
  • Mar 5, 2012 10:06pm Mar 5, 2012 10:06pm
As for myself, last year since late September I have been consistently profitable every week with HTF setups thanks to Haydel. This year the same HTF setup are a disaster.(after 4 straight losses in a row) So I switched to trading the M5 and M1 charts and I have been consistent with making pips every week (though not every day but most days) since the last week of january till now thanks to Kostas.

With 0.5% risk per trade my goal is to make 5% a week, about 35% of weeks I hit it, the other weeks I don't but still in profit. Last year I was hitting my target 80% of weeks. When I don't, it is either market conditions are bad or I missed the setups as they come.

Since this year, market have changed a lot, setups that use to work don't work anymore. I suppose knowing how to fine tune your trading according to changes in market conditions is a desirable trait.

PS: An example of a HTF setup disaster which use to work wonderfully well is the GU H1 35/50 WP+DP setup yesterday. Last year those kind of setup was good for at least 20 pips and sometimes up to 50 pips. Now not anymore. These days I only enter it with M5 M1 confirmation.
Riding the order flow
  • #7,329
  • Mar 5, 2012 11:34pm Mar 5, 2012 11:34pm
thank you makonen and binyamin for ur kind sharing
together we will make this thread more active..

This is my own plan I have in my mind right now.

For myself i am aiming for 3% gain a day.. ( try to follow Kostas1 footsteps, 3% and stop for the day )

1)I will have 3% risk per trade, so once i hit my 3% gain a day i will stop.

2)I plan to trade mainly the M15 chart n seek short term opportunities.
on EU or GU or AU - I plan to trade US market open till US lunchtime/europe close.( 10pm-12am in my timezone)

3)I will try to take AAA grade trades and post them here or in the interacive thread to make it active again

4) Stage 1 plan -is to compound by account for 12 mths
-no withdrawals until stage 1 is complete.

5)Stage 2 plan- once my capital gets big,I will be compound at a less agressive rate maybe 1% or 2% gain a day.. and make withdrawal weekly
  • #7,330
  • Edited 12:54am Mar 6, 2012 12:33am | Edited 12:54am
Great plan, I hope you have already tried it out on demo. I lost 2% in the beginning within a week because I thought I could just trade the rules live but after a while I realized that there are a whole lot more to it.... Just saying.
Riding the order flow
  • #7,331
  • Edited 3:35pm Mar 8, 2012 3:19pm | Edited 3:35pm
Hi guys,

After months, if not years of reading, i decided to sign up.
I've been in forex now for a couple of years, and frankly, it's been a disaster!
I've tried so many systems, robots, strategies that i've really lost count on it. Spend thousands of dollars on everything that's supposed to work, and guess what? It didn't work...

It was only last weekend that i stumbled upon this thread and this system. I've also checked out the original "Dance" thread. And it just feels like a slap in my face, no, rather a punch in my face!

Reading the manuals briefly, browsing some posts on both of the threads here and there, it's just like all the pieces fall together at last.

Never i've seen a "product" (the original Dance manual) which have been writing in a way like this. Neither commercial of free.

Also skimming the charts here and there, i made my decision. This is the system that'll fit me, and this is what i'm going for.

From now on i'll study this system just until i get it, and i'll practice until i really get a feel for it.

For me, finding this system up here, is quite strange.. Strange that i've never found it before, or perhaps i just couldnt see it before. Always being busy running from product A to product B. Without realizing that it's just not a way to go..

Call me stupid, call me an idiot. It's fine for me. But now i got what i need. And i think that now, finally i'll get some rest and peace of mind in my trading.

So i've basically deleted EVERYTHING on my PC and office which had something to do with my old "trader's life". And i'll start with a clean slate!

Thanks for everyone in this thread, you guys are amazing!

P.s. a couple of posts above this one, I've seen Kostas and jbmaverick talking about whether they're checking out the performance per pair.
I'm always using a simple program called "forex control center" which let you import your MT4 statements and it'll make amazing stats of it.
Just try to Google it. You'll find it really interesting! A free demo let's you test one account if i'm not mistaken...
Ever tried. Ever failed. No matter. Try again. Fail again. Fail better
  • #7,332
  • Mar 8, 2012 4:05pm Mar 8, 2012 4:05pm
Given the importance of the spread between the 50 and the 35 in Choros, I tweaked the macd indicator so that it reflected the difference between the 35 sma and the 50 ema. I have found that it provides a quick and useful measure of the status of the trend. I'd be interested in any other opinions.
Attached File(s)
File Type: ex4 mmm.ex4   3 KB | 382 downloads
  • #7,333
  • Mar 8, 2012 6:40pm Mar 8, 2012 6:40pm
Today (Thursday) was pretty much a perfect day - in eur, gbp, and aud - to catch the first touch of the 15min 10ma...and ride it right on up. Great opportunities to buy back into gbp at the touch of the 35ma and 50ma, too.

Hope everyone made some money - that's all that counts. The great thing about this strategy is that if one can learn to consistently grab just 5-10 pips a day, well, once you work your way up to trading about 5 standard size lots, you're making $200 to $500 a day, which ain't a bad living for just sitting in front of a computer a few hours. So if you grabbed 5 pips today, be happy - if you grabbed 20 or more, be overjoyed. Don't fret about what you "could have" made (I had a great day, but I didn't buy the bottom or sell the top) - just try to make a little something.

Personally, I shoot for 10-15 pips a day - when I make more than that, I thank God profusely, and figure I've got some cushion against a losing day here and there. But any day I "escape" with a profit, I'm happy and grateful. It helps to keep in mind that you're trying "steal" a few pips when the market isn't looking.
Writer, currency trader, madman
  • #7,334
  • Mar 9, 2012 12:57am Mar 9, 2012 12:57am
Quoting pjotter
1. And it just feels like a slap in my face, no, rather a punch in my face!

2. This is the system that'll fit me, and this is what i'm going for.

3. From now on i'll study this system just until i get it, and i'll practice until i really get a feel for it.
1.

2.

3.
  • #7,335
  • Mar 9, 2012 12:59am Mar 9, 2012 12:59am
Quoting jbmaverick
Personally, I shoot for 10-15 pips a day - when I make more than that, I thank God profusely, and figure I've got some cushion against a losing day here and there. But any day I "escape" with a profit, I'm happy and grateful. It helps to keep in mind that you're trying "steal" a few pips when the market isn't looking.
Exactly, my daily targets also.....
  • #7,336
  • Mar 9, 2012 4:57pm Mar 9, 2012 4:57pm
Quoting kostas1
Exactly, my daily targets also.....
Today I grabbed 20 pips on Gbp.
...We'll just overlook the fact that I could have grabbed 120 - haha.
Writer, currency trader, madman
  • #7,337
  • Mar 9, 2012 9:19pm Mar 9, 2012 9:19pm
Quoting cmeade2
Given the importance of the spread between the 50 and the 35 in Choros, I tweaked the macd indicator so that it reflected the difference between the 35 sma and the 50 ema. I have found that it provides a quick and useful measure of the status of the trend. I'd be interested in any other opinions.
Could you possibly post some images of this indicator? Thanks!
  • #7,338
  • Mar 10, 2012 3:16am Mar 10, 2012 3:16am
It is very strange how the people are expecting the indicator to tell them the way the market will move. Every time someone says something or post a new indicator a lot of people look for it and study it... Hey guys it is not the holly grail.

P.S. the holly grail is in your heads not infront of your eyes...
Just had to share this

SMcGuire45 it is free, so download it, put it in your MT4 folder and try it ! Unless you do your own homework you wont get "there"!
Better to lose opportunity, rather than capital !
  • #7,339
  • Mar 10, 2012 6:03am Mar 10, 2012 6:03am
Quoting jbmaverick
Today I grabbed 20 pips on Gbp.
...We'll just overlook the fact that I could have grabbed 120 - haha.
Greed kills my friend.
You know that for every time you said "I could have grabbed 120" there are ten times that you could have hit your SL?
  • #7,340
  • Mar 10, 2012 12:13pm Mar 10, 2012 12:13pm
Quoting kostas1
Greed kills my friend.
You know that for every time you said "I could have grabbed 120" there are ten times that you could have hit your SL?
AGREEEEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
especially in this kind of market. I never knew the day would come that I would think scalping is the way.
Riding the order flow
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