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CHOROS System

  • #8,321
  • Nov 13, 2012 4:47am Nov 13, 2012 4:47am
Quoting tonny47
so, did you take 20 pips on the latest eur/usd trade or you trailed your stop?
the last closed one was be+1 ;-)
I hesitated too long
On my way to financial independence - if others can do it - I can do it
  • #8,322
  • Nov 13, 2012 4:53am Nov 13, 2012 4:53am
Quoting kk007
Sorry what is this setup? Dance/Choros?
almost touched 35/50 - rejection by pinbar. you could also take eurusd, that one was even more by the rules. of course if you dont mind taking second touch. another point is that eurjpy yen is highly correlated with eurusd so eurjpy would do pretty much the same as eurusd
  • #8,323
  • Nov 13, 2012 4:55am Nov 13, 2012 4:55am
Quoting tonny47
almost touched 35/50 - rejection by pinbar. you could also take eurusd, that one was even more by the rules. of course if you dont mind taking second touch. another point is that eurjpy yen is highly correlated with eurusd so eurjpy would do pretty much the same as eurusd
ok, thanks
  • #8,324
  • Nov 13, 2012 4:57am Nov 13, 2012 4:57am
Quoting kk007
ok, thanks
another supporting point would be the trendline
  • #8,325
  • Nov 13, 2012 4:58am Nov 13, 2012 4:58am
this one i meant
Attached Image (click to enlarge)
Click to Enlarge Name: 13 november eurjpy trendline.gif Size: 29 KB
  • #8,326
  • Nov 13, 2012 5:02am Nov 13, 2012 5:02am
Quoting Eur Usd
the last closed one was be+1 ;-)
I hesitated too long
ok
  • #8,327
  • Nov 13, 2012 5:04am Nov 13, 2012 5:04am
Quoting tonny47
this one i meant
ok thx
  • #8,328
  • Edited 10:01am Nov 13, 2012 9:45am | Edited 10:01am
Someone PM me asking if I have quit trading and Choros.

Answer is yes to Choros but no I am still trading. I am just not mentally able to cope with watching the market every 10 minutes through out the day, I got sick of it. I was trading only the 15M 10EMA touch and was fairly consistent with pulling out some pips from it every month(comparably modest returns in the tune of 2%-5% a month- yes I will be very happy if I can get this kind of returns for life). My other method that use the 1H and 4H chart was making just a bit more returns than my Choros trades so it didn't make sense to work so hard though I wish I could mentally cope with choros.

Edit: I was thinking, maybe I got burnt out because I never withdraw money even to reward myself.
Riding the order flow
  • #8,329
  • Nov 13, 2012 7:18pm Nov 13, 2012 7:18pm
Quoting Binyamin
Someone PM me asking if I have quit trading and Choros.

Answer is yes to Choros but no I am still trading. I am just not mentally able to cope with watching the market every 10 minutes through out the day, I got sick of it. I was trading only the 15M 10EMA touch and was fairly consistent with pulling out some pips from it every month(comparably modest returns in the tune of 2%-5% a month- yes I will be very happy if I can get this kind of returns for life). My other method that use the 1H and 4H chart was making just a bit more returns than my...
Buddy,

You said you have 2-5% return per month. How many % did you risk per trade and how many pairs did you watch, when you were getting this return rate?

kk007
  • #8,330
  • Nov 14, 2012 4:13am Nov 14, 2012 4:13am
only one trade today audusd out with +10 pips. bounce off ema 35/50 on 15 min chart + nice pinbar formed on 1 hour chart. then another pinbar... and another one... lots of resistance, but as the range was only about 20 pips for a day, i expected more violent breakout. oh well. watching the paint dry - took over 2 hours to take 10 pips.

hope somebody took that nice trade on eurusd rejection based on 8.30 gmt candle. i didnt as i didnt want to have two trades open at the time.

all the best!
Attached Image (click to enlarge)
Click to Enlarge Name: 14 november audusd +10 pips ff.gif Size: 21 KB
  • #8,331
  • Nov 14, 2012 4:33am Nov 14, 2012 4:33am
Quoting tonny47
only one trade today audusd out with +10 pips. bounce off ema 35/50 on 15 min chart + nice pinbar formed on 1 hour chart. then another pinbar... and another one... lots of resistance, but as the range was only about 20 pips for a day, i expected more violent breakout. oh well. watching the paint dry - took over 2 hours to take 10 pips.

hope somebody took that nice trade on eurusd rejection based on 8.30 gmt candle. i didnt as i didnt want to have two trades open at the time.

all the best!
That EU trade wouldn't been so good as H1 10 EMA and M15 35/50 have been touched multiple times, this time it worked because of the H4 scooped-up 7:15 GMT which carried the price higher..

Cheers and green pips


P.S On EU we are now touching Weekly 35
  • #8,332
  • Nov 14, 2012 4:36am Nov 14, 2012 4:36am
Quoting tonny47

hope somebody took that nice trade on eurusd rejection based on 8.30 gmt candle. i didnt as i didnt want to have two trades open at the time.

all the best!
I took only beginning of it and got out after few pips as I wasn't sure about the trade
On my way to financial independence - if others can do it - I can do it
  • #8,333
  • Nov 14, 2012 5:01am Nov 14, 2012 5:01am
Quoting 2121
That EU trade wouldn't been so good as H1 10 EMA and M15 35/50 have been touched multiple times, this time it worked because of the H4 scooped-up 7:15 GMT which carried the price higher..

Cheers and green pips


P.S On EU we are now touching Weekly 35

the way i look at it is that price rejected ema 50 for the first time since ema 10 crossed over both 35 and 50 on 1 hour chart. plus 7:00 1 hour candle was quite bullish. moreover, price started creating higher highs and higher lows. the only thing i didnt like about the 15 min candle at 8:30 was that it was quite large (15 pips or so). thats just the way i viewed it. thanks for your input.
  • #8,334
  • Nov 14, 2012 5:04am Nov 14, 2012 5:04am
look at GBP/USD, I am waiting till conference finishes, there will be lot money to earn (or loose ;-))
On my way to financial independence - if others can do it - I can do it
  • #8,335
  • Nov 14, 2012 5:09am Nov 14, 2012 5:09am
Quoting Eur Usd
look at GBP/USD, I am waiting till conference finishes, there will be lot money to earn (or loose ;-))
looks super-messy so far
  • #8,336
  • Nov 14, 2012 5:11am Nov 14, 2012 5:11am
Quoting tonny47
looks super-messy so far

it does, but the price hasn't been that low for last 2 months and it's holding on this level for 3rd bar on 15m chart, I expect it will go up after conference just to hit back 35/50, even to 1,59, but let's be patient
On my way to financial independence - if others can do it - I can do it
  • #8,337
  • Nov 14, 2012 5:15am Nov 14, 2012 5:15am
Quoting Eur Usd
it does, but the price hasn't been that low for last 2 months and it's holding on this level for 3rd bar on 15m chart, I expect it will go up after conference just to hit back 35/50, even to 1,59, but let's be patient
sorry, didnt get it, so are you looking to buy?
  • #8,338
  • Nov 14, 2012 5:18am Nov 14, 2012 5:18am
Quoting Eur Usd
it does, but the price hasn't been that low for last 2 months and it's holding on this level for 3rd bar on 15m chart, I expect it will go up after conference just to hit back 35/50, even to 1,59, but let's be patient
Perhaps it could bounce but maybe from 1.585, DS1 and D1 200
  • #8,339
  • Nov 14, 2012 5:18am Nov 14, 2012 5:18am
Quoting tonny47
sorry, didnt get it, so are you looking to buy?
I am looking to see what will happen. one of Dance rules says that if during short time price will move 80 pips, there is big chance it will retrace at least 20 pips. That's what I am waiting for
On my way to financial independence - if others can do it - I can do it
  • #8,340
  • Nov 14, 2012 5:20am Nov 14, 2012 5:20am
Quoting Eur Usd
I am looking to see what will happen. one of Dance rules says that if during short time price will move 80 pips, there is big chance it will retrace at least 20 pips. That's what I am waiting for
so, you want to enter counter trend trade long as the price goes down?
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