Thanks Makron
- #7,363
- Mar 19, 2012 12:37am Mar 19, 2012 12:37am
Hi guys! I collected all Kostas posts with pictures in word document! Here is it! I think it will be very useful for us!! Happy learning and trading!
http://depositfiles.com/files/5t0jpdlmx DOC
http://depositfiles.com/files/e8nh6qjv2 PDF
Much appreciated.
Reading through Makron's very kind post of Kostas' comments, I already notice two recurring themes:
1 - The importance of confluence. Probability of success is enhanced significantly if there are indicators across several time frames. You know, not everyone is trading the 15min chart. You're better off if the people trading the 5min, hourly, and 4hour charts are trading with you.
2 - The number of times he says, "probably could have made more, but I took my 19" (or 18 or 10 or 15). The important phrase there is not "could have made more", but "I took my (whatever)". It's not what you miss, it's what you take that counts - and over and over again, I see him taking a profit.
1 - The importance of confluence. Probability of success is enhanced significantly if there are indicators across several time frames. You know, not everyone is trading the 15min chart.
You're better off if the people trading the 5min, hourly, and 4hour charts are trading with you.2 - The number of times he says, "probably could have made more, but I took my 19" (or 18 or 10 or 15). The important phrase there is not "could have made more", but "I took my (whatever)". It's not what you miss, it's what you take that counts - and over and over again, I see him taking a profit.
Writer, currency trader, madman
Re-reading this whole thread (hey, it's only about 500 pages!), it's fascinating to watch the growth and development of strategy.
No disrespect at all intended to the poster, but I about fell out of my chair laughing reading an early post where someone said they had adjusted their daily profit target down from 250 pips a day to only about 40.
Yeah, 250 a day, that seems reasonable. I mean, heck, all you'd have to do is take about the whole daily range in eur/usd and gbp/usd and you'd be there.
I can't laugh too hard - I at one time had a daily profit target of 50-100 pips. It's soooo much easier shooting for about 10% of that. Much thanks to Binyamin and Kostas for steering me to set my sights lower (along with appreciating the importance of confluence and 5min pin bars).
No disrespect at all intended to the poster, but I about fell out of my chair laughing reading an early post where someone said they had adjusted their daily profit target down from 250 pips a day to only about 40.
Yeah, 250 a day, that seems reasonable. I mean, heck, all you'd have to do is take about the whole daily range in eur/usd and gbp/usd and you'd be there.
I can't laugh too hard - I at one time had a daily profit target of 50-100 pips. It's soooo much easier shooting for about 10% of that. Much thanks to Binyamin and Kostas for steering me to set my sights lower (along with appreciating the importance of confluence and 5min pin bars).
Writer, currency trader, madman
Reading through Makron's very kind post of Kostas' comments, I already notice two recurring themes:
1 - The importance of confluence. Probability of success is enhanced significantly if there are indicators across several time frames. You know, not everyone is trading the 15min chart.
2 - The number of times he says, "probably could have made more, but I took my 19" (or 18 or 10 or 15). The important phrase there is not "could have made...
I love to trade with a lot of confluence. Last year I was trying to get 20 to 30 pips on every trade. This year I have increased my lot size and I´m targeting 10 pips on every trade achieving same or even better results, some few times greed comes in and I move my TP for more pips but that usually leads me to end at Break Even, on the other hand I´m having success taking profits when I keep my target around 10 pips.
Take a look at my today's trade. I will itemize everything I saw for the benefit of all of us:
- The area of interest was formed by the confluence of H1 10ema, M15 35/50 and Daily R1
- M15 35sma and M15 50ema where on top of each other.
- The trend of M15, H1, H4 and D1 where in agreement (I use 35/50 to give me an idea of the trend on every Time Frame and all of them were pointing UP) so the signal was strong.
- It took 2 descending bars to get to the entry point so It was a perfect ´by the book´ H1 10ema touch trade. (The entry was at the touch of the projection of the H1 10ema)
- It was the first touch of the H1 10ema after the last big move
In conclusion, it was a perfect CHOROS setup to trade big lots for a few pips 
Today I made my first 20 pips with this strategy, great feeling btw 
.
But When I used the A_Sell script it only opens one position with 12SL and 100 TP, is this normal? According to original manual should open another one with 15TP right??
.But When I used the A_Sell script it only opens one position with 12SL and 100 TP, is this normal? According to original manual should open another one with 15TP right??
Today I made my first 20 pips with this strategy, great feeling btw
But When I used the A_Sell script it only opens one position with 12SL and 100 TP, is this normal? According to original manual should open another one with 15TP right??
- #7,371
- Mar 26, 2012 4:33am Mar 26, 2012 4:33am
Hello fellas.
In the last few days i'm using the oanda's order book for seeing if the dance S/R zone of confluency have a greater chance of withstanding and reversing the movement in our favor or not.
The order book is refreshed every 20 minutes with a 5 min delay, so i refresh the page at HH:25,HH:45 and HH:05 and see wheather arround the dance levels are gathering some orders or not. It seems that with time it is getting more usefull and easy to read. I use only the net order book!
The candlestick pattern in other hand is the confirmation Kostas1 seek for. As i have never been able to see them in real time this tool is helping me training my eye for seeing those more quickly.
I think for every noob in candlestick patterns like me, this will be a very usefull tool to practice with. I know that there are some of those for MT4 i may try those too in the next days.
I use those two tools to confirm what dance/choros shows, but not as a primary tools.
I hope that this will help others like me to take off the bottom Just take a few hours to teach what the order book is showing. Well, the big boys are useing the order book to see the strong S/R zone, why we do not use this as well ?
P.S. Another thing what i see in the last days is that if the price stands between let's say some buy orders beneath(as it is usual) but also some net buy orders just above the price, the quotes will go a little higher, as a "scalpers" this is helping a lot i think.
P.S.2 I'm looking forward for your comments on those two Kostas1 if you find those two too far away from the dance/choros conception i will delete this post and open another thread.
Thanks for reading.
In the last few days i'm using the oanda's order book for seeing if the dance S/R zone of confluency have a greater chance of withstanding and reversing the movement in our favor or not.
The order book is refreshed every 20 minutes with a 5 min delay, so i refresh the page at HH:25,HH:45 and HH:05 and see wheather arround the dance levels are gathering some orders or not. It seems that with time it is getting more usefull and easy to read. I use only the net order book!
The candlestick pattern in other hand is the confirmation Kostas1 seek for. As i have never been able to see them in real time this tool is helping me training my eye for seeing those more quickly.
I think for every noob in candlestick patterns like me, this will be a very usefull tool to practice with. I know that there are some of those for MT4 i may try those too in the next days.
I use those two tools to confirm what dance/choros shows, but not as a primary tools.
I hope that this will help others like me to take off the bottom
Just take a few hours to teach what the order book is showing. Well, the big boys are useing the order book to see the strong S/R zone, why we do not use this as well ?P.S. Another thing what i see in the last days is that if the price stands between let's say some buy orders beneath(as it is usual) but also some net buy orders just above the price, the quotes will go a little higher, as a "scalpers" this is helping a lot i think.
P.S.2 I'm looking forward for your comments on those two
Kostas1 if you find those two too far away from the dance/choros conception i will delete this post and open another thread. Thanks for reading.
Better to lose opportunity, rather than capital !
OK, latelly I've been spending a decent amount of time at the simulator working to improve my consistence in this strategy, everything works like a charm in a trending market, but one thing I noticed is when the market is ranging is pretty hard to avoid the false signals, at least on the simulator where we don't have a HTF to watch, what seems to me is that once price is working on sideways probably on the HTF price is trapped between the 35 and 50 MA's. Is this a correct assumption to make guys? If soo, what strategy is the best to take? Wait for a break in the range to trade the dance again? Remember, Im a noob, not rly read to trade ping-pong areas 
Jusct curious bcuz my sucess rate drops significantly once i hit a ranging market at the sim.
Jusct curious bcuz my sucess rate drops significantly once i hit a ranging market at the sim.
- #7,374
- Mar 26, 2012 4:57pm Mar 26, 2012 4:57pm
OK, latelly I've been spending a decent amount of time at the simulator working to improve my consistence in this strategy, everything works like a charm in a trending market, but one thing I noticed is when the market is ranging is pretty hard to avoid the false signals, at least on the simulator where we don't have a HTF to watch, what seems to me is that once price is working on sideways probably on the HTF price is trapped between the 35 and 50 MA's. Is this a correct assumption to make guys? If soo, what strategy is the best to take? Wait for...
Choros rules are "don't trade when market is ranging/sideways." At least, not until you are very good at it. As you pointed out not ready to trade ping-pong.
I don't like ping pong areas, either. I've tried it, but I always enter long at the top and short at the bottom, thinking price is "breaking out." I still like 10MA touches best, when confluent with at least two other factors, especially H4 10 (thank you Bin!).
Sounds to me like you're right on track.
Luck occurs when preparation meets with opportunity.
Remember, Choros is trend-based: See trend, wait for pullback (according to rules), enter into trend continuation.
Choros rules are "don't trade when market is ranging/sideways." At least, not until you are very good at it. As you pointed out not ready to trade ping-pong.
I don't like ping pong areas, either. I've tried it, but I always enter long at the top and short at the bottom, thinking price is "breaking out." I still like 10MA touches best, when confluent with at least two other factors, especially H4 10 (thank you Bin!).
Sounds...
Right now I'm in the process of reading the entire original "Dance Thread", and next this one. Hope to be collecting pips like u veterans soon
- #7,380
- Mar 29, 2012 1:15pm Mar 29, 2012 1:15pm
I made 5 trades today, all the setups where M15 10ema touches.
All were triggered by pending orders at areas of interest and all were triggered at the same time (seconds apart). That was intense!!
The best thing is that all of them where profitable trades. I made 55 pips in a couple of intense minutes.
I hope the charts are useful for every one to have an idea of when M15 10ema setups work.
In all cases HTF trend where in agreement and confluence with S/R levels where near or at the entry point.
Happy trading.
Swedish steel!