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CHOROS System

  • #7,781
  • Aug 3, 2012 1:40am Aug 3, 2012 1:40am
Some EU confluences today:
http://www.forexfactory.com/showthre...27#post5899527
  • #7,782
  • Aug 3, 2012 1:52am Aug 3, 2012 1:52am
Quoting kostas1
Some EU confluences today:
http://www.forexfactory.com/showthre...27#post5899527
Glad you are watching 1.2210 there as well.

I had a nice play with EU at 1.2217 during the retracement of the initial drop from 1.24 yesterday, hope market yield some more pips there today again.
  • #7,783
  • Aug 3, 2012 3:45am Aug 3, 2012 3:45am
Quoting kostas1
KAKOURGA EFORIA..... (translation: f*cking taxes)

Kostas, you got the point exactly!!!
  • #7,784
  • Aug 3, 2012 7:15am Aug 3, 2012 7:15am
Did somebody took a confluence on GU of RN 1.56, H1 200, H4 50/62/200, Daily 10/35 ? I wasn't at the computer at that time but as I see the best entry would have been on the close of the M15 Doji.

P.S What's with the bulls today, I've heard that it's yesterdays news reaction..
  • #7,785
  • Edited 7:31pm Aug 6, 2012 7:20pm | Edited 7:31pm
Hello Everyone,

This is my first post here @FF, I have been closely following this thread for nearly a year, I had been playing with the simulator and demoing Choros for half a year. For a couple of months now I have traded it live though. With mixed results, but slowly getting there.

Although I think the Dance/Choros concept is truly excellent and very effective and I understand it quite well I think, I still have some doubts with regard to certain issues and that is holding me back from squeezing the juice from the strategy:

1) Resetting the bar count in a retrace. I have searched the thread but I could only find some contradictory answers. So could anyone please summarize this issue briefly? Do you reset the bar count in a retrace from the most recent high/low (for ex. a retrace in the direction of a 10EMA) after a candle in a different direction (than the ones we are counting) or not? I hope I am being clear enough ;-) )

2) If there are more than two candles in a retrace (no matter how we reset the bar count), however after a few more bars the price gets to the 10EMA, should it be counted as a touch for the purpose of the touch count or should it be completely ignored?

3) Finally: if I am correct (?), after evolving, it is left to some discretion whether traders allow themselves to enter few pips away from a MA (effectively taking a trade ALMOST at a touch, which, as far as I understand, wasn't allowed by the original rules ("DO NOT ENTER UNLESS THE CANDLE IS TOUCHING A LINE")). However, should a "almost touch", after it clearly happens, be taken into calculation of the touch count (i.e. 2 touches of 10EMA)?

Any efforts in answering the above questions will be greatly appreciated.

I'd like to thank Clay, Kostas and all other traders for your time and contribution to the excellent thread on this strategy.

Many pips,

JK
  • #7,786
  • Aug 7, 2012 1:39am Aug 7, 2012 1:39am
Quoting Jkdt
1)
2)
3)
My personal opinion on the above: choose one type of answer from your statements and stick to it. It really doesn't matter how much bars or if it's touch/bounce/rainbow, what matters is what you see and if it works for YOU. So just choose one type of answer and test/check it yourself... no other way, it doesn't matter if something is working for anyone here, because it doesn't mean, that you personally would be able to see the same and have the same results. If it won't work for say few month, you may try something else, but don't switch instantly if one or two trades won't work.
  • #7,787
  • Aug 7, 2012 3:44am Aug 7, 2012 3:44am
Quoting Jkdt
1) Resetting the bar count in a retrace. I have searched the thread but I could only find some contradictory answers. So could anyone please summarize this issue briefly? Do you reset the bar count in a retrace from the most recent high/low (for ex. a retrace in the direction of a 10EMA) after a candle in a different direction (than the ones we are counting) or not? I hope I am being clear enough ;-) )

2) If there are more than two candles in a retrace (no matter how we reset the bar count), however after a few more bars the...
Hi since no one is answering your questions I will. This is just the way I do it. Of course there is a bit more to what I will explain.

1) I count when there are bars with small wicks heading to the MA. I ignore the little bars, my logic is, market can be random so unless it is obviously moving to the MA I won't count it.

2) Usually I ignore setups with more than 2 bars, but if it is the 1st touch of the MA with good M5 rejection I will usually take it despite having more than 2 bars.

3) I can't answer that unless you read Kostas1 posts in the choros thread. If I answer that you might not understand, but as a general rule I think it is a good idea to wait for a touch before you enter.
Riding the order flow
  • #7,788
  • Aug 7, 2012 10:33am Aug 7, 2012 10:33am
Quoting Binyamin
Hi since no one is answering your questions I will. This is just the way I do it. Of course there is a bit more to what I will explain.

1) I count when there are bars with small wicks heading to the MA. I ignore the little bars, my logic is, market can be random so unless it is obviously moving to the MA I won't count it.

2) Usually I ignore setups with more than 2 bars, but if it is the 1st touch of the MA with good M5 rejection I will usually take it despite having more than 2 bars.

3) I can't answer that unless you read Kostas1 posts...
Hi Bin, When you say "ignore the little bars", does it means you will count this one as 2 bar to MA? i.e. ignore the first small red bar with a long upper wick?

Also, in this trade, I made my decision based on M5 PA, I thought I'd loose the 2-bar rule.(But in your methodology it would be counted as 2-bar)
Attached Image (click to enlarge)
Click to Enlarge Name: gu20120525.gif Size: 35 KB
Attached Image
  • #7,789
  • Edited 11:13am Aug 7, 2012 10:56am | Edited 11:13am
Quoting Darkforce
Hi Bin, When you say "ignore the little bars", does it means you will count this one as 2 bar to MA? i.e. ignore the first small red bar with a long upper wick?

Also, in this trade, I made my decision based on M5 PA, I thought I'd loose the 2-bar rule.(But in your methodology it would be counted as 2-bar)
HI DF, I took the same trade too. A really nice trade. Yeah I would IMO call that a 2 bar retrace.

I forgot who said it, I think it was KennyZ or Kenneth Lee or maybe even Kostas1. The faster the price retrace to a S/R the higher chance of it bouncing back. And then he quote a Newtonian law of movement of some sort. If you exert a force, there will be an opposing movement of equal force.

So whatever it is, if I got the logic right, I just want to see a fast rush towards the MA.
Riding the order flow
  • #7,790
  • Aug 7, 2012 3:53pm Aug 7, 2012 3:53pm
Hi, this is my first post in FF and I want to
use it to thank you kostas1 and eclayf for your
generosity and incredible amount of time
you invest teaching the dance.

After a long time stumbling in the dark, it
is the first system that makes really sense
to me and gave me my first profitable
month and many many precious insights
into the workings of the market.

I feel really sorry about eclayf being bullied
in the original thread and I just want him to know
that his efforts are not wasted and greatly appreciated.
The material presented is of outstanding quality
and a great many lightbulbs went on in my head
and it all seemed to come together for me because
of the great manual.

As of now I have many great entries, a lot of poor exits,
and still striving for consistency, but I am very optimistic,
as experience accumulates.

Again,

THANK YOU!

P.S.: I hope this can get through to eclayf somehow,
since I can't PM him and thank him personally.
  • #7,791
  • Aug 7, 2012 9:49pm Aug 7, 2012 9:49pm
Hi all,

I thought it would be appropriate to share
the tools I programmed to trade the dance:

1. TouchMAAlerter (Alerts when MAs are touched). I use
this in live trading (Popup alerts) and on my VPS to send me
SMS when MAs on major timeframes (weekly, monthly, daily) are touched.
It can alert in three ways: Popup, E-Mail and executable (which i use to send SMS).

2. TouchMA EA. Since there are no limit orders on MAs, I wrote a simple
Expert that would open a position on the touch of a selected MA.
This EA needs the A_SetLotSize script be run beforehand to initialize
the global variable "ordersize".
Hope it is useful, suggestions and feedback are welcome!

Best regards,
Hans

P.S.: I also greatly modified the supplied dance scripts
(Add new scripts for limit orders, automatically take screenshots on entries and exits, exit half position size on all trades).
If interesten I could post them also, please let me know.
Attached File(s)
File Type: mq4 TouchMAAlerter.mq4   6 KB | 595 downloads
File Type: mq4 TouchMA.mq4   5 KB | 484 downloads
  • #7,792
  • Aug 8, 2012 12:41am Aug 8, 2012 12:41am
Quoting bscholes
Hi all,

I thought it would be appropriate to share
the tools I programmed to trade the dance:

1. TouchMAAlerter (Alerts when MAs are touched). I use
this in live trading (Popup alerts) and on my VPS to send me
SMS when MAs on major timeframes (weekly, monthly, daily) are touched.
It can alert in three ways: Popup, E-Mail and executable (which i use to send SMS).

2. TouchMA EA. Since there are no limit orders on MAs, I wrote a simple
Expert that would open a position on the touch of a selected MA.
This EA needs...
Welcome to the thread. Your contributions with the tools is welcomed here. Thanks!
  • #7,793
  • Aug 8, 2012 1:53am Aug 8, 2012 1:53am
Hi,

here is the latest version of my Dance trading tools hosted:

https://github.com/bscholes/DanceTools

Here is the zip-file:

https://github.com/bscholes/DanceTools/zipball/master

Explanation:
indicators (exept std Dance):

  1. Contains THVs TzPivots. I use daily weeky and monthly Pivots + Midpoints.
    Price reacts very nicely around them and I rarlely need to insert manual S/R lines.
  2. BarAlert.mq4: pops up an alert on COB (for those who try to trade while working)


scripts:

  1. Contains modified versions of the original Dance scripts. Modifications: Bugfix: Doesn't pop up the order window on ECN brokers who need SL/TP as separate orders. Addition: make screenshots on Entries and exits (in experts/files)
  2. ADeletePendings.mq4, A_BuyLimit.mq4, A_SellLimit.mq4 do what their names imply
  3. ACloseHalf1Currency: Closes half of all positions of the charts currency
  4. P4LOrderHistory.mq4 - Got it from FF, use it to visualize my trades


experts:

  1. ChartServe.mq4: Generate Screenshots periodically. I use it on my VPS in conjunction with a web server to have my chart template on my mobile phone since MT4/mobile charting is very restricted.
  2. EventsExpert: Mails/Alerts/Executes a program if SL/TP is hit or pendings are triggered. I use it with an external program to send SMS to my phone.
  3. TouchMA and TouchMAAlerter are the same from the previous post


PLEASE TEST ON DEMO FIRST, if those scripts blow your account or close
your loved long-term positions or kill the house cat, I'll take no responsibility,
use them at your own danger only! (so do I).

Suggestions and comments are appreciated,
Kind regards,
Hans

  • #7,794
  • Aug 8, 2012 3:10am Aug 8, 2012 3:10am
Quoting bscholes
Hi,

here is the latest version of my Dance trading tools hosted:

https://github.com/bscholes/DanceTools

Here is the zip-file:

https://github.com/bscholes/DanceTools/zipball/master

Explanation:
indicators (exept std Dance):

  1. Contains THVs TzPivots. I use daily weeky and monthly Pivots + Midpoints.
    Price reacts very nicely around them and I rarlely need to insert manual S/R lines.
  2. BarAlert.mq4: pops up an alert on COB (for those who try to trade while working)


scripts:[list][*] Contains modified...

Wow, welcome and thanks.

Anyway since I am at it. I just took a EURUSD 7:45 GMT 15M 10 touch. Cheers.
Riding the order flow
  • #7,795
  • Aug 8, 2012 5:13am Aug 8, 2012 5:13am
At last i made one good trade. Few minutes after i exited the last part there was a 10 EMA touch that have worked very well and moved the price to my initial TP at 1.2347. But we can't take every entry right For me the trading day is over.
Quit 1-st half at +15 pips, One quarter at +26 and the last quarter at +28, total +1,4% on the account for the day.


Attached Image (click to enlarge)
Click to Enlarge Name: 08.08.2012.JPG Size: 114 KB


Many pips all.
P.R.P.
  • #7,796
  • Aug 8, 2012 6:24am Aug 8, 2012 6:24am
Nice stuff, thank for sharing!

Quoting bscholes
Hi,

here is the latest version of my Dance trading tools hosted:

https://github.com/bscholes/DanceTools

Here is the zip-file:

https://github.com/bscholes/DanceTools/zipball/master

Explanation:
indicators (exept std Dance):

  1. Contains THVs TzPivots. I use daily weeky and monthly Pivots + Midpoints.
    Price reacts very nicely around them and I rarlely need to insert manual S/R lines.
  2. BarAlert.mq4: pops up an alert on COB (for those who try to trade while working)


scripts:[list][*]...

  • #7,797
  • Aug 8, 2012 6:37am Aug 8, 2012 6:37am
I was away for some time but took my first trade on the GU based on the M5 12EMA with M1 P/A confirmation, entered on the close of M1 Doji at 14:02 (GMT+3) got out with my +10 pips. Trade was a bit risky because jus ahead there was a RN, so had to watch M1 closely.
  • #7,798
  • Edited 1:17pm Aug 8, 2012 12:41pm | Edited 1:17pm
Quoting 2121
I was away for some time but took my first trade on the GU based on the M5 12EMA with M1 P/A confirmation, entered on the close of M1 Doji at 14:02 (GMT+3) got out with my +10 pips. Trade was a bit risky because jus ahead there was a RN, so had to watch M1 closely.
Yep I have seen Kostas taking those kind of trades. I don't know how to take those pure M5 touch trades. For me sometimes it works sometimes it doesn't. Or maybe it is relatively consistent it is just that I am reluctant to trade it due to losses with those trades in the past.

How do you guys decide whether to take pure M5 12 trades???
Riding the order flow
  • #7,799
  • Edited 3:07pm Aug 8, 2012 2:48pm | Edited 3:07pm
Quoting Binyamin
Yep I have seen Kostas taking those kind of trades. I don't know how to take those pure M5 touch trades. For me sometimes it works sometimes it doesn't. Or maybe it is relatively consistent it is just that I am reluctant to trade it due to losses with those trades in the past.

How do you guys decide whether to take pure M5 12 trades???
Well, I could try to share some thoughts. To take those M5 trades as 'touch' I think would be risky because price might go further. So, basically principles are almost the same as for M15, we need a fairly steep 12 or 23EMA (23EMA is almost the same as M15 10EMA) and if we are targeting a 12EMA bounce, then we are looking for a M1 rejection or a M5 rejection and enter on the close for more safety, if we are targeting a 23EMA bounce it's the same principle. I'm not an expert at those kind of trades, just started to SEE them happening very often. To add more, I take them only when they agree with M15 trend. Grab M5 chart and mark 12, 23 EMA touches, then mark the same bounces on the M1 and you will get to see some nice P/A there.
  • #7,800
  • Aug 9, 2012 12:43am Aug 9, 2012 12:43am
Quoting bscholes
Hi, this is my first post in FF and I want to
use it to thank you kostas1 and eclayf for your
generosity and incredible amount of time
you invest teaching the dance.
P.S.: I hope this can get through to eclayf somehow,
since I can't PM him and thank him personally.

"Hello my dear friend,

Thank you for the link. Would you please tell bscholes for me that it always brings me great pleasure to see another one start making progress!

I did the original thread mostly for "me" because I know that when I teach something, I learn the most and it was a work of pleasure to do it. Seeing you, bigtent, Binyamin, Darkforce, Duffypratt, LeeMonk, and so very, very many others keeping at it and growing, learning and improving is one of the more gratifying things I have experienced in life.

Again, please tell bscholes "thank you" for me.

God bless and good trading,
Clay"
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