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CHOROS System

  • #7,441
  • Edited 10:32pm May 6, 2012 12:36pm | Edited 10:32pm
Quote
About last year, when you said "any idiot can do this", I took similar basic setup types as you. While you enjoyed 80%-100% win rate, I got only 50% win rate. And there was nothing to do with execution flaw.
Cool but I never said that I had 100% win rate ever. And by the way, you were obviously trading anything and everything that you feel right and you never took the same trades as us. Have you forgotten already so fast? My 80% win rate trades were solely H1 and nothing else. You yourself said you didn't have any patience for trades that occur 3-5 times a week(which I solely took), you wanted it daily because you said it will be BORING to wait sooooo long in between trades and so you NEVER EVER took the same trades. There were a few of us(excluding you) that were taking the same setups in H1 and were getting quite decent results CONSISTENTLY last year. So dude, give me a break.


Basic form of choros?? There is no such thing IMO. You should know by now the market is the same today and in the future because it ALWAYS CHANGE. Choros in whatever form is bound to fail sooner or latter so to quote clay: make Choros your own.

Aside from that...

I never considered M1 or M5 until this year when HTF setups in my experience became very unreliable.

With this method and market type I can on average only find 1 good setup a day and sometimes none at all and I am fine with that. I have the patience to wait and not take random dumb trades but I don't have the time to watch the M5 and M1 so intensely for such low pips or RR which = low profits. I am not Kostas in any way and my type of money management just won't allow it. So my Choros strategy is to step aside for now.
Riding the order flow
  • #7,442
  • May 6, 2012 12:43pm May 6, 2012 12:43pm
Quoting kk007
Kostas1 is looking for just more than 10 pip a day (as he said some time ago), what do you want?

By the way, the only one I know who keep trading the basic form of Choros and has a track record of success is now struggling for profit. (I don't consider kostas1 is trading the basic form of choros, I am far from able to understand how exactly he trades choros after 1/2 year of daily following).

About last year, when you said "any idiot can do this", I took similar basic setup types as you. While you enjoyed 80%-100% win rate, I got only 50%...
This is Kostas1's lastest post about his money management:
http://www.forexfactory.com/showthre...78#post5397578
He said:
"15 pips/day for 20-25 lots, so when at 12 pips I am already planning how to spend the rest of my day"

Art of the stress free trading -_^
  • #7,443
  • May 6, 2012 1:17pm May 6, 2012 1:17pm
Quoting Binyamin
Cool but I never said that I had 100% win rate ever. And by the way, you were obviously trading anything and everything that you feel right and you never took the same trades as us. Have you forgotten already so fast? My 80% win rate trades were solely H1 and nothing else. You yourself said you didn't have any patience for trades that occur 3-5 times a week(which I solely took), you wanted it daily because you said it will be BORING to wait sooooo long in between trades and so you NEVER EVER took the same trades. There...
Bin, is avg. 1 good setup/day too conservative?
  • #7,444
  • May 6, 2012 8:30pm May 6, 2012 8:30pm
Want to reply each point, but can't afford the time.

Quoting Binyamin
Cool but I never said that I had 100% win rate ever. And by the way, you were obviously trading anything and everything that you feel right and you never took the same trades as us. Have you forgotten already so fast? My 80% win rate trades were solely H1 and nothing else. You yourself said you didn't have any patience for trades that occur 3-5 times a week(which I solely took), you wanted it daily because you said it will be BORING to wait sooooo long in between trades and so you NEVER EVER took the same trades. There...
  • #7,445
  • Edited 10:43pm May 6, 2012 10:30pm | Edited 10:43pm
Quoting Darkforce
Bin, is avg. 1 good setup/day too conservative?
It depends on who you are. I am fine with even a once a week method. I am not fine with having to intensely watch the chart all day for a chance to take 1 or no trade(that is what my competency allows). If a setup can give me at least a few hour warning before the trigger that is ideal to me.

If you have a brain like a reptile perhaps you can wait all day patiently for the prey to come. (Like crocodiles)
Riding the order flow
  • #7,446
  • May 6, 2012 11:28pm May 6, 2012 11:28pm
Hi all,

Just wanted to say hi and thanks to everyone for their contribution to the Dance/CHOROS systems.

I'm a complete newbie, only started looking into FX and The Dance in early April, have re-read the manual about 5 times, read all of the original thread and up to page 33 of this thread. Will probably take me a good month to read the rest of this thread.

What a turnaround to this latest part of this thread though - about the system no longer working! And I notice that it's not very active anymore for some reason in terms of posting charts etc.

Interestingly, I am following the very basic rules that Clay gave (15m/1h/1d charts, three MAs, that's it). I am actually really encouraged by the "bare bones" results. Simulator - managed to grow $10k to $11k-$12k in 1-2 hr sessions a few times. Demo - started with a $5k account, now up to $5,562 over 3 nights of trading last week (2-3 hrs per session). Next month, if all goes well, will start a small live account ($100). I trade GU and EJ during London.

So far, I really believe the rules still hold.

Anyway, I have lots of questions, but will hold off on all of them until I read the thread. I'm sure they've all been answered somewhere in there.

Hope to be able to contribute something valuable at a later point.

Cheers,
Greg
  • #7,447
  • May 7, 2012 1:06am May 7, 2012 1:06am
Is CHOROS not working anymore and nobody told me????

Joking aside, the fact that I am not posting doesn't mean that I am not trading. I don't think I have anything more to offer to the community since I have paid back more than I got from the FF. Any info you need is already in the thread.
For kk007 posts all I have to comment is that he was NOT really trading because of lack of patience.
For the new guys just test the method in the simulator or Demo account and make your own opinion. If you are not patient, and haven't spent a lot of time in front of the screen, look for another method. This is not holy-grail !!!!
The M5 timeframe between EU, GU, AU gives plenty of opportunities to get 15-20p per day.
  • #7,448
  • May 7, 2012 1:29am May 7, 2012 1:29am
Quoting kostas1
For kk007 posts all I have to comment is that he was NOT really trading because of lack of patience.
Yes, it is true that I was not really trading, because of impatience. I only tried to trade and made lot of mistakes. Nevertheless, I evaluated what I did at day ends, visualizing where I could enter and exit. I couldn't find an edge with my own judgement using Choros. This means even I had perfect patience, discipline and execution, I could not have won. Perhaps, only me, I don't know.

I have no idea if the system get worse or not this year, since I didn't try it this year.

.
  • #7,449
  • May 7, 2012 4:35am May 7, 2012 4:35am
In GU price is at a h1 confluence(H1 35/50 DP, PPA from 2n May) with divs from 15M and M5. There is also a trigger in M5 now. But I am just watching. From my experience this should work.
Attached Image (click to enlarge)
Click to Enlarge Name: 7123922 Interbank FX Trader 4 - Demo Account - [GBPJPY,H1]_2012-05-07_15-29-04.jpg Size: 244 KB
Riding the order flow
  • #7,450
  • May 7, 2012 7:07am May 7, 2012 7:07am
Quoting Binyamin
In GU price is at a h1 confluence(H1 35/50 DP, PPA from 2n May) with divs from 15M and M5. There is also a trigger in M5 now. But I am just watching. From my experience this should work.
Not working
  • #7,451
  • May 7, 2012 7:18am May 7, 2012 7:18am
Quoting kk007
Not working
Yeah didn't work.

NU and Au is at a H1 confluence. This might have a better chance since the 2 pairs has been in a bearish trend. But the confluences is a bit to spread out IMO.
Riding the order flow
  • #7,452
  • May 7, 2012 10:08am May 7, 2012 10:08am
Quoting Binyamin
In GU price is at a h1 confluence(H1 35/50 DP, PPA from 2n May) with divs from 15M and M5. There is also a trigger in M5 now. But I am just watching. From my experience this should work.
Easy to say after the fact but I would not take such trades looking scooped up like this.
  • #7,453
  • May 7, 2012 10:27am May 7, 2012 10:27am
Quoting pippiee
Easy to say after the fact but I would not take such trades looking scooped up like this.
Should I be trading choros I would have definitely taken it considering the way GU behaves. This kind of trade in H1 and H4 always looks bad in the LTF but works very well last year.

Oh well more reasons to happily stay on the sidelines with choros.

But I have to mention that GU and AU M15 35/50 touch today worked very well, so obviously my competency is my constraint. Will be watching out for that setup. Take what I say with a pinch of salt because I am skeptical about my beliefs in trading as well
Riding the order flow
  • #7,454
  • May 7, 2012 10:48am May 7, 2012 10:48am
Quoting Binyamin
It depends on who you are. I am fine with even a once a week method. I am not fine with having to intensely watch the chart all day for a chance to take 1 or no trade(that is what my competency allows). If a setup can give me at least a few hour warning before the trigger that is ideal to me.

If you have a brain like a reptile perhaps you can wait all day patiently for the prey to come. (Like crocodiles)
Definitely agree trade frequency highly depends on individual.

For me, I tend to take 2-4 trades per days. Normally half done around London open, and half done between NY open and London close. I don't mind scalp 5 pips.

Also, I found taking avg 1 trade per day is psychologically more difficult to handle than taking a few more per day. Not because I am not patient enough, but because the idea of taking the absolute best opportunity often make me reluctant and subsequently miss the best opportunity.
  • #7,455
  • May 8, 2012 1:05am May 8, 2012 1:05am
Quoting Darkforce
Definitely agree trade frequency highly depends on individual.

For me, I tend to take 2-4 trades per days. Normally half done around London open, and half done between NY open and London close. I don't mind scalp 5 pips.
There are not enough setups I know that I dare to take that will enable me 2-4 trades a day and I don't mind a 5 pips scalp either. Oh well I have decided to just observe for now.

But do show us some pics of your trades sounds like you are on to it.
Riding the order flow
  • #7,456
  • May 8, 2012 4:05am May 8, 2012 4:05am
For me the last 3-4 weeks were good enough, as the chart shows in the chatroom i have stopped loosing and exited the loosing trend. I hope i will manage to push up the curve even more.

The first and the very hardest thing in the forex market is to stop loosing... all other will come as the time passes on. And do not risk more than what you can afford to loose !

Happy pipping and wait not only for an opportunity, but for good opprotunity!

P.S. i forgot to mention that in the last weeks the spred via my broker was 2.4 pips min... now it is a pip lower... so a pip more for me
Better to lose opportunity, rather than capital !
  • #7,457
  • May 8, 2012 7:19am May 8, 2012 7:19am
Quoting Binyamin
There are not enough setups I know that I dare to take that will enable me 2-4 trades a day and I don't mind a 5 pips scalp either. Oh well I have decided to just observe for now.

But do show us some pics of your trades sounds like you are on to it.
You have to be kostas1 to have enough winning setups every day. His choros is not the same as your choros.
  • #7,458
  • Edited 8:38am May 8, 2012 8:13am | Edited 8:38am
[email protected]
Reason:
1.Clear break of M15.10, then unable to close below for two bars, looks like a scoop up by M15.10
2.Price very like attracted by M15.35/M15.50/H1.10/H1.35/H1.50/D1.10 confluence
3.1.6140 was the support for the initial drop this morning, now likely to act as support for further advancement

[email protected]
Reason:
1.Price reached M15.35
Attached Image (click to enlarge)
Click to Enlarge Name: gu20120508.gif Size: 116 KB
  • #7,459
  • Edited 9:02am May 8, 2012 8:20am | Edited 9:02am
Quoting Binyamin
There are not enough setups I know that I dare to take that will enable me 2-4 trades a day and I don't mind a 5 pips scalp either. Oh well I have decided to just observe for now.

But do show us some pics of your trades sounds like you are on to it.
Definitely, I'll keep posting if I got good ones I just took far more cr*p trades than necessary.
  • #7,460
  • May 8, 2012 9:41am May 8, 2012 9:41am
taken that trade at 1.30111 due to e 10 EMA 15M touch after a significant down movement. Plenty of resistances above so i was conforable of taking the exact touch...

Attached Image (click to enlarge)
Click to Enlarge Name: 08.05.2012 entry.JPG Size: 95 KB


Got to go out for a while and turned on the dance trail expert... misteriosly it has drown my stop loss from 1,3026 down to 1,30117... too bad for me... this was my only trade for today and it is a winner ... The trail expert is set to move to BE + 1 at +11 pips and the trail before profit is turned off...

however this could be an easy 20 pips and done for the day... now with -0.6 pips and done for the day ... have a great pipping all... and wait for good opportunities - it is better to loose opportunity rather than capital !

Dance still works folks
Better to lose opportunity, rather than capital !
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