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CHOROS System

  • #8,141
  • Oct 5, 2012 10:07am Oct 5, 2012 10:07am
Quoting foxterbotell
harnessing the strength of bullish news USA

m5 35/50 price action

enter buy

++16
Nice shot!

But EU maybe a better pair to trade atm...
  • #8,142
  • Oct 5, 2012 10:23am Oct 5, 2012 10:23am
Quoting Darkforce
Nice shot!

But EU maybe a better pair to trade atm...
hello dancer also had his eye on the EUR but the pullback not appeared he was waiting
  • #8,143
  • Oct 8, 2012 11:04am Oct 8, 2012 11:04am
Hello dancers!
5m scoop up trade eu for 10 pips!
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  • #8,144
  • Oct 9, 2012 2:43am Oct 9, 2012 2:43am
Hi All

Short EUR/USD, entry at 1,2977, exit at 1,2951, I could hold it longer and would get another 20 pips but I was afraid of round number
risk: 1%, profit 2,5% - 26 pips

reason for entry: on 1hr chart it was showing short, and price constraiment on 50/35 for some time
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On my way to financial independence - if others can do it - I can do it
  • #8,145
  • Edited 8:33am Oct 9, 2012 8:18am | Edited 8:33am
Missed the big move this morning, but grabbed good Choros pips afterwards at touch of M15.10 and then M15.35/50.

I was stopped out BE at my first M15/35/50 entry, then decided to try again when price approach WP.

This is the last one for today and probably the best of all that I took.

Entry:1.29575
Exit:1.26355

Reason for entry:
1.M15.35/50+D1.10+WP confluence
2.Support turned resistance zone
3.M5 PA(small spin top)
4.H1 diagonal trendline

Reason for exit:
1.Daily S1 reached
2.Trendline at the bottom
3. Really got enough for the day.
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Attached Image
  • #8,146
  • Oct 9, 2012 8:38am Oct 9, 2012 8:38am
Quoting Darkforce
Reason for exit:
1.Daily S1 reached
2.Trendline at the bottom
3. Really got enough for the day.
Got to love your 3rd reason for exit. I will put this in the CHOROS rules....
  • #8,147
  • Oct 9, 2012 8:59am Oct 9, 2012 8:59am
Hi Kostas1,

Trade 1: Entered based on the M5 pin bar against M15 35/50 + H1 10, and loss 8 pip.

Trade 2: Same as Darkforce. Similar reasons, but got 11 pip only.

Was my Trade 1 a bad entry?
How would you have determined the TP for Trade 2?


cheers,
kk007

Quoting Darkforce
Missed the big move this morning, but grabbed good Choros pips afterwards at touch of M15.10 and then M15.35/50.

I was stopped out BE at my first M15/35/50 entry, then decided to try again when price approach WP.

This is the last one for today and probably the best of all that I took.

Entry:1.29575
Exit:1.26355

Reason for entry:
1.M15.35/50+D1.10+WP confluence
2.Support turned resistance zone
3.M5 PA(small spin top)
4.H1 diagonal trendline

Reason for exit:
1.Daily S1 reached
2.Trendline at the bottom
3. Really got...
Attached Image (click to enlarge)
Click to Enlarge Name: temp.gif Size: 31 KB
  • #8,148
  • Oct 9, 2012 9:13am Oct 9, 2012 9:13am
Quoting kostas1
Got to love your 3rd reason for exit. I will put this in the CHOROS rules....
I actually learned that from you and Clay, in a very early post between you two:

Originally Posted by kostas1
The reason of exit is achieving my daily target of 30 pips (in one trade, done for the day).

Clay:
Kostas1, that is probably the absolute BEST reason to exit a trade I know of. Having a plan and trading it exactly is the BEST way to trade. A GREAT trade is NOT one that gains huge pips, it is the one that you execute flawlessly "by the rules" of your strategy so you can consistently grow your account and gain confidence.

These words are real gems, they are priceless!
  • #8,149
  • Oct 9, 2012 9:31am Oct 9, 2012 9:31am
Quoting kk007
Hi Kostas1,


1. Was my Trade 1 a bad entry?

2. How would you have determined the TP for Trade 2?


cheers,
kk007
1. No, that was also my entry. But my SL was 20pips higher, can you guess why?

2. Same way as Darkforce. Got enough for the day....
  • #8,150
  • Oct 9, 2012 9:32am Oct 9, 2012 9:32am
I's been a good day for me today, as I earned over 10%.
my last entry was 4x my normal position size with a bit over 2% risk (8% in total)
entry at 1.2950 as there was a price for about an hour together with 35/50 so I felt really confident about it, almost touched my sl as it went to 1.2960, and then down to my tp which was 1.2930
88 pips on plus today
and that's it for today

btw the rules say that after 5 successfull trades you have to move out from trading for the day. I stopped treating trades where I gained 1-2 pips (as it lowers down my daily profits) as successfull, therefore I had move that 5 green trades today
On my way to financial independence - if others can do it - I can do it
  • #8,151
  • Oct 9, 2012 9:33am Oct 9, 2012 9:33am
Quoting Darkforce
I actually learned that from you and Clay, in a very early post between you two:

[color="RoyalBlue"][i]Originally Posted by kostas1
The reason of exit is achieving my daily target of 30 pips (in one trade, done for the day).

Clay:
Kostas1, that is probably the absolute BEST reason to exit a trade I know of. Having a plan and trading it exactly is the BEST way to trade. A GREAT trade is NOT one that gains huge pips, it is the one that you execute flawlessly "by the rules" of your strategy so you can consistently grow your account and...

I know you did. I just liked the way you said it.
  • #8,152
  • Oct 9, 2012 9:36am Oct 9, 2012 9:36am
and a proof of my short on eur/usd
Attached Image
On my way to financial independence - if others can do it - I can do it
  • #8,153
  • Oct 9, 2012 10:05am Oct 9, 2012 10:05am
Thanks kostas1 for your reply!

1. I am not a newbie here, and I think I have the same WPP as you. Nevertheless, one 20 pip loser may stop me out if I have a daily limit.

2. I like to set TP based on the setups... I don't use daily target anymore (too stressful, and which go against my take-what-market-give philosophy)

By the way, thanks for your voucher!

cheers, kk007


Quoting kostas1
1. No, that was also my entry. But my SL was 20pips higher, can you guess why?

2. Same way as Darkforce. Got enough for the day....
  • #8,154
  • Oct 11, 2012 1:19am Oct 11, 2012 1:19am
Hello i tried thid system but not with very much succes because i know i make mistakes.I would like to ask you if you would be so kind to answer if on 15 min price is above 35/50 MA but on the 1H and 4H is bellow the 35/50 MA on what time frame should i bo looking for trend direction
  • #8,155
  • Oct 11, 2012 1:47am Oct 11, 2012 1:47am
Quoting marcelms
Hello i tried thid system but not with very much succes because i know i make mistakes.I would like to ask you if you would be so kind to answer if on 15 min price is above 35/50 MA but on the 1H and 4H is bellow the 35/50 MA on what time frame should i bo looking for trend direction
to check the trend see 1hr chart, sometimes 4hr to confirm, sometimes even 1 day, but 1hr is the most important imo to check trend, and yes, MA will look different on each charts
Trade on 15 min chart.
this system is succesful for me and in 130 trades I made 30% profit in bit more than month as a beginner.
On my way to financial independence - if others can do it - I can do it
  • #8,156
  • Oct 11, 2012 1:59am Oct 11, 2012 1:59am
Quoting Eur Usd
to check the trend see 1hr chart, sometimes 4hr to confirm, sometimes even 1 day, but 1hr is the most important imo to check trend, and yes, MA will look different on each charts
Trade on 15 min chart.
this system is succesful for me and in 130 trades I made 30% profit in bit more than month as a beginner.
Thank you for the reply
  • #8,157
  • Oct 11, 2012 2:16am Oct 11, 2012 2:16am
btw it works only on currency. I trade silver a bit and I see that trading choros there has no point :-)
On my way to financial independence - if others can do it - I can do it
  • #8,158
  • Oct 11, 2012 3:49am Oct 11, 2012 3:49am
Quoting Eur Usd
btw it works only on currency. I trade silver a bit and I see that trading choros there has no point :-)
Although I don't trade it, somebody in the past mentioned something about Gold....
  • #8,159
  • Oct 11, 2012 9:16am Oct 11, 2012 9:16am
Hello dancers!


I stopped out today morning (short 1.2848 after London open m5 pin was my signal -). I was impatient , shorted very early before m5 trend establish.
Anyway later I had a winner (m15/10 & 5m p.a. with m5/12-23
keep the price above) . At the chart you see a second portion
free ride with sloss at b.e.
many pips to all!
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  • #8,160
  • Edited 10:06am Oct 11, 2012 9:35am | Edited 10:06am
Today's bounce from D1 200/35, H4 200, DS1, RN and MP pretty well explains strong buying. Weekly chart shows that we may be doing Ping-Pong again between 35-50 or 35-62.
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