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CHOROS System

  • #8,381
  • Nov 16, 2012 4:14am Nov 16, 2012 4:14am
Quoting Eur Usd
I knew long on cable is a bad idea ;-)
the setup looked good both on 15m and 1h, but cable was weird this week. I'll stick to eur/usd
Indeed good but it seems that rejection bars on M15 and H1 from H4 35, R1 looked too strong... And not to mention that in M15 TF 35 was above 50..
  • #8,382
  • Nov 16, 2012 4:20am Nov 16, 2012 4:20am
oh well, first choros trade (if we can call it that) that didnt play out for me this week. out with -6 pips. done for a day.

have a good weekend
Attached Image (click to enlarge)
Click to Enlarge Name: 16 november gbpusd -6 pips ff.gif Size: 24 KB
  • #8,383
  • Nov 16, 2012 4:52am Nov 16, 2012 4:52am
Quoting tonny47
oh well, first choros trade (if we can call it that) that didnt play out for me this week. out with -6 pips. done for a day.

have a good weekend
Same failed trade here
  • #8,384
  • Nov 16, 2012 6:00am Nov 16, 2012 6:00am
I think it's better to leave GU alone, as H1 and M15 35/50 are flat, we may try shorting EU from M15 35/50 or H1 10..
  • #8,385
  • Nov 16, 2012 6:03am Nov 16, 2012 6:03am
Quoting 2121
I think it's better to leave GU alone, as H1 and M15 35/50 are flat, we may try shorting EU from M15 35/50 or H1 10..
probably would be the best choice
  • #8,386
  • Nov 16, 2012 6:07am Nov 16, 2012 6:07am
just when i though i was done for a day, went to have a coffee, came back to see nice setup on audusd. missed the entry by few pips but kept my SL small. moved to BE fairly quickly too eventually getting stopped out at break even. if entered on time, it would be trade good enough for 12 pips. normally dont like to chase trades but this one seemed really nice.
but seriously now, i am done for today lol
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  • #8,387
  • Nov 16, 2012 6:20am Nov 16, 2012 6:20am
Quoting tonny47
just when i though i was done for a day, went to have a coffee, came back to see nice setup on audusd. missed the entry by few pips but kept my SL small. moved to BE fairly quickly too eventually getting stopped out at break even. if entered on time, it would be trade good enough for 12 pips. normally dont like to chase trades but this one seemed really nice.
but seriously now, i am done for today lol
Chasing that bloody train...
  • #8,388
  • Nov 16, 2012 8:51am Nov 16, 2012 8:51am
I find Choros setups work quite well this week. Is it normal?
  • #8,389
  • Nov 16, 2012 9:07am Nov 16, 2012 9:07am
Quoting kk007
I find Choros setups work quite well this week. Is it normal?
it is very normal ;-)

time to finish this week
profit today: 70 pips 7,2% profit
profit this week: 181 pips, 20,5% profit
most profitable run today: 38 pips, 4,5% profit

what I am not proud of is that sometimes I risk more than I should
Have a nice weekend chaps ;-)
On my way to financial independence - if others can do it - I can do it
  • #8,390
  • Nov 16, 2012 9:49am Nov 16, 2012 9:49am
Quoting Eur Usd
it is very normal ;-)

time to finish this week
profit today: 70 pips 7,2% profit
profit this week: 181 pips, 20,5% profit
most profitable run today: 38 pips, 4,5% profit

what I am not proud of is that sometimes I risk more than I should
Have a nice weekend chaps ;-)
Glad to see your great result, but how many weeks have you practise to think it is normal?
  • #8,391
  • Nov 16, 2012 9:49am Nov 16, 2012 9:49am
Quoting kk007
Glad to see your great result, but how many weeks have you practise to think it is normal?

since beginning of September
On my way to financial independence - if others can do it - I can do it
  • #8,392
  • Nov 16, 2012 9:53am Nov 16, 2012 9:53am
Quoting Binyamin
With Choros, I traded AU, EU, GU. Mainly. I miss more than half the valid setups I should take(So theoretically I should have a higher % a month if I don't miss any setups) and my win rate was maybe about 65-75%. I can't quite remember when I started trading M15 10 with M5 exclusively, definitely since the beginning of the year for a few months at least. I risk about 0.5%-0.75% per trade at that time.
If you don't like the lifestyle of trading this TF, I have no comment. However, if you miss less setup, trade a few more pairs, trade also other Dance methods in addition to M15 10, slightly increase your % risk per trade, you may well have a rate higher than 10% monthly. This may be the performance of a top trader in a fund house. What do you want more? FYI, Kostas1 is targeting about 20% a month.
  • #8,393
  • Nov 16, 2012 9:54am Nov 16, 2012 9:54am
Quoting Eur Usd
since beginning of September
Great! Statistics of 10 weeks!
  • #8,394
  • Nov 16, 2012 9:55am Nov 16, 2012 9:55am
Quoting kk007
Great! Statistics of 10 weeks!
I know it's not enough on daily system, but I made about 200 trades so far, and the only trades that were dragging me down were "angry revenge mode" trades
On my way to financial independence - if others can do it - I can do it
  • #8,395
  • Nov 16, 2012 10:07am Nov 16, 2012 10:07am
Quoting kk007
If you don't like the lifestyle of trading this TF, I have no comment. However, if you miss less setup, trade a few more pairs, trade also other Dance methods in addition to M15 10, slightly increase your % risk per trade, you may well have a rate higher than 10% monthly. This may be the performance of a top trader in a fund house. What do you want more? FYI, Kostas1 is targeting about 20% a month.
Yeah I agree. But it have come to a point that when I look at the choros template I feel tired and sick. Maybe I have been torturing myself by watching the charts all day for about a year and the feeling have stick.

Of course I will love to make more % but I am limited by my ability to trade other setups profitably consistently. 15M 10 with M5 confirmation was the only setup I could do consistently and I wish I could do more.

However when I switch to naked trading taking trades off S/D at H1/H4 it was a breath of good fresh air. I place pending orders and I check the chart every hour or two. Nice and easy.(FYI I haven't been trading much lately due to low market volatility)
Riding the order flow
  • #8,396
  • Nov 16, 2012 10:27am Nov 16, 2012 10:27am
Quoting Eur Usd
I know it's not enough on daily system, but I made about 200 trades so far, and the only trades that were dragging me down were "angry revenge mode" trades
Great to hear that!
  • #8,397
  • Nov 16, 2012 10:35am Nov 16, 2012 10:35am
Quoting Binyamin
Yeah I agree. But it have come to a point that when I look at the choros template I feel tired and sick. Maybe I have been torturing myself by watching the charts all day for about a year and the feeling have stick.

Of course I will love to make more % but I am limited by my ability to trade other setups profitably consistently. 15M 10 with M5 confirmation was the only setup I could do consistently and I wish I could do more.

However when I switch to naked trading taking trades off S/D at H1/H4 it was a breath of good fresh air. I place pending...
Yes. I just wondered. There are not many H1/H4 S/D I can mark these days for the major pairs that I watch. Not main because of market volatility, but because setup frequency for any trading method are not regular. It is not a regular employment job.

The problem even with naked trading is that you still have to watch chart a few times per hour. If you need price action confirmation for your S/D trading, you will still have to keep watch them. The only way not to watch a few time per hour is to trade HTF, swing trade, that is holding position across days. You prefer this way?
  • #8,398
  • Nov 16, 2012 12:56pm Nov 16, 2012 12:56pm
I took last trade when the price was reversing from 1.27 and I was on 30 pips tp. I predicted the price, but got out from trade with only few pips. The price just hit the point where my tp was. that would be another 4% profit if I stayed in the trade
On my way to financial independence - if others can do it - I can do it
  • #8,399
  • Nov 18, 2012 6:59am Nov 18, 2012 6:59am
EURUSD,

In my opinion last week was not quite normal. It was very good for dance trading.


Binyamin,

I also like to trade 4h / 1d. I am currently developing a hybrid of the dance and another system on these timeframes. Less noise, better trends, less stress, multiple R:R, i'm in still mostly trading classic 15m dance though. And although tremendously improved, still am not there yet with my consistency.

Happy pipshunting,

JK
  • #8,400
  • Nov 18, 2012 7:09am Nov 18, 2012 7:09am
Quoting Jkdt
EURUSD,

In my opinion last week was not quite normal. It was very good for dance trading.
I agree. What was my advantage is week off work, plus my son was in nursery, so I had time without distractions.

Let's see what next week will bring. I am not sure about Monday as it's almost news free and it;s hard to predict according to dance rules whether it will be north or south. We'll see tomorrow.
On my way to financial independence - if others can do it - I can do it
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