CHOROS System

Hi Iero!

I would really appreciate, if you tell us, what have you learned mean time and what mistakes you made before. In what way you didnt't respect the system?

My mistake was after reading the manual I use real money straight away and lost 1% of my account. If you are beginner don't use real money. Many many people have tried this strategy and fail just read through this thread and see for yourself that what I say is true. So the odds of anyone being consistent with it is very small. Partly due to the fact that this strategy is very sensitive to changes in the market and the learning curve is very steep. I started being consistent when I don't try to make money everyday, in fact I don't even care if my setup doesn't occur in a week. If you are pro like kostas you can, my advice, don't try to be him too fast. Good luck.

My biggest mistake was that I wanted to become rich very quickly . This brings greed and greed is the source of disaster. It is like playing poker and being all in with 5,7 or so.

The other thing is exactlly what Bin said. Using choros there will be days with several signals but you will have days with no signals at all. These are the days that you will have to control your emotions (greed).

Personaly, I have developed a money management system that makes me feel happy with 5-7 pips gain per day. It doesn't matter what lot size you use as long as you don't risk more than 5% of your account.

My trade Today. +25p

eurusd trade in the NY session

15m very near to the 35sma, very near to the round number, 1h 10ema, 1m dojibar and 5m price accion ,

TP1 in MS3 hit in 18pips

Tp2 14pips

SL 15

other eurusd trade

15m 35sma, dailys1, 5m pinbar price action

SL 15

TP1 in ms3 is +15

Tp2 close because pinbars +17

To every one at the Choros thread:

People that believe that Choros doesn't work are eagerly looking for a method that mechanically tells them when to buy and when to sell. They are saying with honesty: "I don't want to think too much, please tell me where should I Buy and where should I Sell.".

The problem with that is that not only Choros will not work consistently for them, but probably no other system will.

Choros helps to understand how the markets moves and shows many details to be aware of to be profitable, Choros leads to see many details that every one should learn to really understand the market. Constant practice helps to be consistent.

To take a profitable Choros trade you have to see the complete picture.
For example, when you see a Choros setup forming you should think something like:

1. Why is a Choros setup showing up on EURUSD in the M15 TF?
2. Why the price is bouncing to get to the 10 ema or to the 35/50ma's?

That bounce could be too strong so the setup could not obey Choros rules, so:

1. What Higer Time Frames (H1, H4, D1) are telling me?
2. What Lower Time Frames (M5, M1) are telling me?
3. What has happened before (Minutes ago, Hours ago, Days ago,...) on that same level?
4. What GBPUSD is doing at the same time?
5. What other USD pairs are doing?
6. What other EUR pairs are doing?
7. Etc., etc., etc. You should think of many other details.

Then make similar questions to set Stop Loss and Take Profit Levels. Setting fixed, unrealistic, not well thought SL and TP levels will lead to loses.

Don't stop learning. There are many other details to take into consideration to be really profitable and some may think it's overwhelming, but it's not. Don't stop practicing.

Let's illustrate it with learning to drive a car. There are really count less abilities, rules and details that you need to learn to be able to do it right. Let's think:

1. Be able to start the engine without breaking the starter.
2. Release the brakes to start moving (You may laugh at this now but when you are totally new you really need to concentrate and think about simple things like this, even the order that you are doing these things)
3. How to use the gearbox smoothly when your car is not automatic.
4. How to drive in reverse.
5. Watch for other cars when you are on the road.
6. Watch for people on the road.
7. Watch for people on the side walks and be prepared to what they do.
8. Watch for cars on intersections and be ready to react to them.
9. Be aware of details to be ready to press the brakes under certain situations. Is the other driver looking at you or is he looking somewhere else?
10. Watch the rearview mirror when turning or when you are stopping.
11. Learn what all the signals mean and obey them.
12. Learn what all the lines painted on the road mean.
13. Etc. etc. etc, I'm sure you can think of many other details.

When you are new to car driving, you really have to concentrate and carefully consider all that details one by one every moment that you are learning to drive, if you don't you could get hurt or you can hurt some one else.

After years of driving, when you drive home from work, do you really concentrate on all those details?

Yes. You are obeying all of them, you know dozens of rules, tips and abilities and you are applying them to safely arrive home.

The difference now is that those abilities, rules, tips, etc. are natural, you just know how to safely drive home. And that was possible only after years of practicing.

Well, something similar happens with Choros, and trading in general. Many details, not an easy task at all, but absolutely possible to be consistently profitable. And with time and practice, it becomes natural.

So, as Kostas said. Stay focused and don't give up, you will learn how to dance with the market.

I couldn't have said it any better. What a great analysis my friend!
As I said in the first page, I already had 2 yrs experience before I was introduced to this way of trading so I knew what I was doing. In Haydel's terms I knew how to drive, I just didn't have a car yet. Haydel's analysis is true for any trading method not just CHOROS.

P.S. Keep watching Haydel's posts, very early on he won my respect in the way he patiently waits for the right opportunity and the deep market feeling/analysis he uses.

First trade of the day. Sell EUR/USD @ 1.26033

Confluence of Daily e50, Fib 61.8 and RN 1.2600...Closed manualy at +16pips.



I like these trades where lower highs form. They usually give strong signals as here.

Took a -12 pips lost in AUDUSD at the 1st 15M touch even with M5 confirmation. Upon further inspection the pair was trading at the weekly R1 and it is at the last weeks high. Shouldn't have traded into a supply area, at that time I didn't see it.

Yeah that's tricky.

Well done getting the big picture, that will help you a lot.

Even trading at those risk levels CHOROS can give you a good quick scalp (6 to 10 pips).

Thank you kostas for those encouraging words. You have made "the" difference on my trading and I own you that.

Keep on the good work.

Thank you again.

EURUSD Area of interest for Monday:

EURUSD H4 10EMA within 25 pips with H1 35/50 in confluence with Monthly Pivot at 1.2563 and Weekly Pivot at 1.2584.

Also RN at 1.26000 and Daily Pivot at 1.25929 will be added to the confluence in a few hours.

I will probably be sleeping by the time price gets there, if it does, so I hope this would be useful for someone.

You have to be careful with this one because even H1 and H4 are in Uptrend, D1 and W1 are in Downtrend.

Attached you will see the H1 and H4 Charts.

If price does not get there, then there will always be another trade.

Happy trading

Here is another possible trade:

AUDUSD Area of interest for Monday:

AUDUSD H4 10EMA within 25 pips with H1 35/50 in confluence with RN at 1.0150, Daily Pivot at 1.0173 and Weekly Pivot at 1.0156.


In this case, H1, H4 are in Uptrend and D1 seems to be starting an Uptrend, so there could be more chance to profit on this one.

H1 and H4 Charts are included so every one can see what to look for when looking at the charts looking for Choros Setups.

Be patient and wait for the price to get there.

Well in case you are interested GBPUSD is forming a very similar CHOROS Setup than EU and AU:

GBPUSD H4 10EMA in confluence with H1 35/50 and Weekly Pivot at 1.5631

The confluence area is wider than EU and AU, but the fact that almost the same setup is forming in EU, GU and AU is telling us something.

Happy trading

Thanks Haydel

The setups that you are showing now use to work really well last year and january this year.(I was making 2-4% every week just trading that) But then from febuary onwards this year this setup have been failing with long losing streaks. Upon inspection in the daily reads with NNbob method, we were going through a lot of ranging periods and it seems that the success of this method is related to the market state which is easily seen in HTF. If you do your back test, since the EUR, AUD etc started trending in early May, this setup was kicking ass.

About the same time during the ranging periods I found that the frequency of M5 setups was so low that I can go through days without taking any setups(some I miss). Right now the frequency seems to be picking up and I am actively waiting for trades now coincidentally my own read in the daily confirms a trending market.

So my own conclusion is, the success of this method is related to the state of the market (ranging or trending) in the HTF and that tells me whether to be more aggressive or sit on my hands like I did.

Well, the H4 10ema setups posted above are no longer valid.
I don't see Choros setups for today yet.

I agree with you, take a scalp 3 to 4 pips on the touch of 4h ema10 in eurusd

Taken this AUDUSD. It was the 1st touch of the 15M 10EMA so I waited for M5 to cross the M5 MA. The red lines are the SL and TP. TP for 9.8 pips.

The HTF for AU show to me that it have cleared last weeks high, with no supply zone(that I can spot) there was no reason not to take that signal.

eurusd trade NY session

15m 10ema, 5m 35sma, 5m pinbar 1h 50ema, very near to the daily pivot and weekly pivot

+8pips



always another day with better opportunities