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CHOROS System

  • #7,901
  • Aug 28, 2012 12:13pm Aug 28, 2012 12:13pm
Quoting kostas1
Guess who took a similar trade....
Mine was on the first bounce but after the second bounce, I let it run almost to DR3 for 24p.

P.S. I may scalp again if H1 bounces from 10.

hello kostas , I also take the same trade, grab some 15pips, I could not take photos: (
  • #7,902
  • Edited 1:03pm Aug 28, 2012 12:15pm | Edited 1:03pm
Quoting 2121
To my eyes, EU was strongly over-bought all day, I hesitated to take those bounces because there was already formed Pin bar on the H1 and later another one. Kostas, what made you to trade against H1 P/A ?

Later I was cursing myself for missing those trades..
2121,

I keep things simple, strong trend, first touch take it, second touch sometimes, third touch never...

The H1 bar you refer to, was not a pinbar (see the pdf file, also search FF for pinbar study material). Of course, the higher TF bounce from Daily 10, H4 35/50, Weekly Pivot confluence was too strong to ignore long trades....

P.S. I was once working with a programmer to get an EA for trading pinbars, so I know well what a pinbar should look like. Real pinbars don't appear so early in a strong trend, usually takes a little more exhaustion for it to happen.
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   176 KB | 968 downloads
  • #7,903
  • Edited 3:56pm Aug 28, 2012 3:04pm | Edited 3:56pm
Quoting kostas1
The H1 bar you refer to, was not a pinbar
Wouldn't that be a bearish inside bar meaning the same thing? Though I understand your reasoning behind confluence. Btw: the definition of a pin bar in that pdf is slightly different than in the orig. Dance manual. Which one is better?

Cheers,

JK
  • #7,904
  • Aug 28, 2012 4:00pm Aug 28, 2012 4:00pm
Quoting kostas1
Guess who took a similar trade....
Mine was on the first bounce but after the second bounce, I let it run almost to DR3 for 24p.

P.S. I may scalp again if H1 bounces from 10.
Dear kostas1, I took the exact trade so either it's beginners luck(2/2) or I'm a fast learner

Just tell me the reason of/signal for your exit because I still haven't figured it out yet.
I mean why "almost" instead of "at" R3.

Geia mas!
Don't Fight Forces, Use Them.
  • #7,905
  • Aug 28, 2012 6:41pm Aug 28, 2012 6:41pm
Quoting Jkdt
Wouldn't that be a bearish inside bar meaning the same thing? Though I understand your reasoning behind confluence. Btw: the definition of a pin bar in that pdf is slightly different than in the orig. Dance manual. Which one is better?

Cheers,

JK
In additional to the inside bar, it was also a double top formation on M5 chart. Kos said he trades mainly the M5 chart. But now he wisely took the M15 setup. He has a lot of considerations that I cannot comprehend. Even after 2 years of following, each time his winner looks a special case for me with some new reasoning.
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  • #7,906
  • Aug 28, 2012 10:48pm Aug 28, 2012 10:48pm
Quoting Timetraveler
Dear kostas1, I took the exact trade so either it's beginners luck(2/2) or I'm a fast learner

Just tell me the reason of/signal for your exit because I still haven't figured it out yet.
I mean why "almost" instead of "at" R3.

Geia mas!
It was a classic CHOROS trade so I am glad that many people spotted it and traded it.
Good question about the exit. For EU I have noticed that sometimes price responds just before the Pivot point and then retraces, so I prefer not to be greedy for a few pips so I exit before the price hitting the pivot point. In this case price eventually crossed above R3, but I still feel good for taking my profit earlier.
For GU, price usually overshoots the pivot point, so there I exit after grabbing a few more pips from the overshoot.
  • #7,907
  • Aug 28, 2012 10:57pm Aug 28, 2012 10:57pm
Quoting kk007
Kos said he trades mainly the M5 chart. But now he wisely took the M15 setup. He has a lot of considerations that I cannot comprehend. Even after 2 years of following, each time his winner looks a special case for me with some new reasoning.
.
Still trade the M5 mostly my friend... But if the M5 doens't give me a chance, I turn my attention, first to the M15 then to the H1. Yesterday's EU had a strong push up in M5 and only gave an "almost touch" of EMA 12, so I didn't feel comfortable trading that small retrace (8:20 GMT). So I was looking at the M15 for a chance to enter. I almost entered on the first EMA5 bounce (yellow line in my chart) but I decided to wait for a normal EMA10 bounce. After that I was ready to try an H1 10 bounce but never happened during my trading time window.

The M15 bounce was a classic CHOROS which is why several guys traded it.
  • #7,908
  • Aug 28, 2012 11:15pm Aug 28, 2012 11:15pm
Quoting kostas1
Still trade the M5 mostly my friend... But if the M5 doens't give me a chance, I turn my attention, first to the M15 then to the H1. Yesterday's EU had a strong push up in M5 and only gave an "almost touch" of EMA 12, so I didn't feel comfortable trading that small retrace (8:20 GMT). So I was looking at the M15 for a chance to enter. I almost entered on the first EMA5 bounce (yellow line in my chart) but I decided to wait for a normal EMA10 bounce. After that I was ready to try an H1 10 bounce but never happened during my trading time window.

The...
I saw the top rejection bars on M15/H1 with the double top pattern on M5 chart, and did not think it was a good setup. This is also a classic reason of rejecting a setup.
  • #7,909
  • Aug 28, 2012 11:22pm Aug 28, 2012 11:22pm
Quoting kk007
I saw the top rejection bars on M15/H1 with the double top pattern on M5 chart, and did not think it was a good setup. This is also a classic reason of rejecting a setup.
Did you also see the super confluence from Daily 10, H4 35/50, Weekly Pivot crying out LOOOOONG ?
  • #7,910
  • Aug 28, 2012 11:29pm Aug 28, 2012 11:29pm
Quoting kostas1
Did you also see the super confluence from Daily 10, H4 35/50, Weekly Pivot crying out LOOOOONG ?
O.K. I admit that I fail to fit every factors worth considering in a well-structurized framework of evaluation and set SL and TP accordingly to maximize my possible return. The complexity of your judgement is too large for me to comprehend.

Seems like you've shown me each digit in your password to decode a machine, but I just don't know how to combine all the digits into the original password to decode the machine.....
  • #7,911
  • Aug 29, 2012 2:06am Aug 29, 2012 2:06am
Quoting kostas1
Did you also see the super confluence from Daily 10, H4 35/50, Weekly Pivot crying out LOOOOONG ?

yes, super confluence!
Attached Image
  • #7,912
  • Aug 29, 2012 3:03am Aug 29, 2012 3:03am
This is a setup for today, not the one kos took yesterday.

Quoting makonen
yes, super confluence!
  • #7,913
  • Aug 29, 2012 6:04am Aug 29, 2012 6:04am
Eurusd trade

Buy trade

1h 35/50, 5m price acction,

SL 10

TP1 in 14+

TP2 in 20+
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29.08.2012 2entrada eurusd.gif Size: 308 KB
Click to Enlarge Name: 29.08.2012 2entrada eurusd salida.gif Size: 308 KB
  • #7,914
  • Aug 29, 2012 7:45am Aug 29, 2012 7:45am
Scalp trade

My other trade in Eurusd

in this trade This was a very fast trade, I had no time to take photo with optimal input, so you can see the before and after, will be another time

Sell eurusd trade

1m price action and 35sma, Daily Pivot, 5m 10ema

SL 6

TP +10 in the Touch 4h 35sma
Attached Image (click to enlarge)
Click to Enlarge Name: 29.08.2012 3entrada eurusd.gif Size: 314 KB
  • #7,915
  • Aug 29, 2012 1:13pm Aug 29, 2012 1:13pm
Quoting foxterbotell
Scalp trade

My other trade in Eurusd

in this trade This was a very fast trade, I had no time to take photo with optimal input, so you can see the before and after, will be another time

Sell eurusd trade

1m price action and 35sma, Daily Pivot, 5m 10ema

SL 6

TP +10 in the Touch 4h 35sma
Good trading! Did you take m15 pinbar off H1 35/50 and DP?
  • #7,916
  • Aug 30, 2012 1:46am Aug 30, 2012 1:46am
Quoting makron
Good trading! Did you take m15 pinbar off H1 35/50 and DP?
hello makron, when I presented this trade was not in front of my pc
  • #7,917
  • Aug 30, 2012 2:47am Aug 30, 2012 2:47am
Quoting foxterbotell
hello makron, when I presented this trade was not in front of my pc
You have an EA to do the entry and exit for you?
  • #7,918
  • Aug 30, 2012 2:54am Aug 30, 2012 2:54am
Quoting kk007
You have an EA to do the entry and exit for you?
hello kk007, i dont have

my trade is manual
  • #7,919
  • Aug 30, 2012 4:14am Aug 30, 2012 4:14am
If somebody is wondering why do I even care helping other people, I have two answers:

1. Giving back the help I have received from others

2. Getting personal satisfaction from PMs like this:

"Hello kostas, i want you to know, that you changed my style of thinking, i could even say, you changed my life, i am happy that i found choros thread, not because of the system, only because of you, you are a great teacher, and alway inspired me, when i had a doubt about my success, i want to be successfull trader more than everything in my life, its dream of all my life and i know that i will be, only because of you, i am 19y.o and my family dont believe that i will gain money in forex, thay are simple people and dont believe in that kind of job, thуy think its like a casino, but now i dont care, i know that kostas are successfull trader, than why i cant be too? you are my example, inspiration, you can even not to asnwer to me, i just want to let you know, on this planet is one more man, who will remember you all his life, when i will be successfull i will say, my success started with one man from greece, if you will be on ff after 2-3 years, i will write to you once more, to meet you and shake your hand, thank you"

P.S. This one almost brought tears to my eyes and I am not kidding... These kinds of moments make all the effort I spend here worth it. This is also the reason that Clay put all that work to help others.
  • #7,920
  • Aug 30, 2012 4:24am Aug 30, 2012 4:24am
Quoting kostas1
If somebody is wondering why do I even care helping other people, I have two answers:

1. Giving back the help I have received from others

2. Getting personal satisfaction from PMs like this:

"[i]Hello kostas, i want you to know, that you changed my style of thinking, i could even say, you changed my life, i am happy that i found choros thread, not because of the system, only because of you, you are a great teacher, and alway inspired me, when i had a doubt about my success, i want to be successfull trader more than everything in my life,...
Comment very nice and touching

I want you to know that you too have been an example for me, I'm slowly getting the consistency, and through time and experience I reduce my mistakes in my trades

Regards
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