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CHOROS System

  • #8,921
  • Feb 28, 2013 7:03am Feb 28, 2013 7:03am
It is not 2 bar retracement, and so it is not by the rule.

Quoting Mones
Thanks for responding. I'll try to look them up. I suppose everyone here is still trading the regular dance? I want to discuss a 2nd trade which turned out in a loss today

I think it was a totally valid by the rules and also a confluence trade. It was a 35&50 touch trade on 15M, confluence with 10 H1, after getting resisted by RN.
Attachment

Price DID bounce a litlte bit up, but it seemed like there were only 5 buyers in the whole world. Result:
Attachment

Can anyone try an analysis on my trade? I tried...
  • #8,922
  • Feb 28, 2013 7:12am Feb 28, 2013 7:12am
Quoting kk007
It is not 2 bar retracement, and so it is not by the rule.
You mean with the 10 H1? I get that, but even without confluence the 35&50 touch would still be a valid trade, right? Since the mainchart is M15 TF. And confluences are just a change between A+ and A- setups, the way i understand it from the manuals.

Just trying to learn from my mistakes. Started a week ago.
  • #8,923
  • Feb 28, 2013 7:24am Feb 28, 2013 7:24am
Quoting Mones
You mean with the 10 H1? I get that, but even without confluence the 35&50 touch would still be a valid trade, right? Since the mainchart is M15 TF. And confluences are just a change between A+ and A- setups, the way i understand it from the manuals.

Just trying to learn from my mistakes. Started a week ago.
I think it took 3 bar to get to 35/50 on M15 chart, right?

Personally, the only touch trade I will consider is against EMA 10 when the trend is really strong.
  • #8,924
  • Feb 28, 2013 7:29am Feb 28, 2013 7:29am
Quoting kk007
I think it took 3 bar to get to 35/50 on M15 chart, right?
Yes that is correct, 2 engulfing bars and a pinbar. Does the "2 bars to get there" rule also apply to 35&50 touches? My understanding was only for 10 Touches
  • #8,925
  • Feb 28, 2013 7:31am Feb 28, 2013 7:31am
Quoting Mones
Does the "2 bars to get there" rule also apply to 35&50 touches?
Yes, as far as I understand
  • #8,926
  • Feb 28, 2013 7:43am Feb 28, 2013 7:43am
Quoting kk007
Yes, as far as I understand
Cool, thanks for the possibly mistake. New month is about to start and i will make sure to put that rule into work. Now you mentioned it, while i'm looking back a bit on the chart, i notice alot of 3+ retraces are indeed not solid.

Let's hope i can end the next month with 10-20% profit, trying to aim for 1% per day.

Quick offside question, i'm thinking to monitor till the end of NY session whenever possible. Any experience with this strategy after LC? Looks promising during every session.
  • #8,927
  • Feb 28, 2013 7:47am Feb 28, 2013 7:47am
Quoting Mones
Cool, thanks for the possibly mistake. New month is about to start and i will make sure to put that rule into work. Now you mentioned it, while i'm looking back a bit on the chart, i notice alot of 3+ retraces are indeed not solid.

Let's hope i can end the next month with 10-20% profit, trying to aim for 1% per day.

Quick offside question, i'm thinking to monitor till the end of NY session whenever possible. Any experience with this strategy after LC? Looks promising during every session.
My experience is that the hour when London close (GMT17:00) action get slower, seem to me the price dynamic transforming.
  • #8,928
  • Feb 28, 2013 7:48am Feb 28, 2013 7:48am
Quoting Mones
Cool, thanks for the possibly mistake. New month is about to start and i will make sure to put that rule into work. Now you mentioned it, while i'm looking back a bit on the chart, i notice alot of 3+ retraces are indeed not solid.

Let's hope i can end the next month with 10-20% profit, trying to aim for 1% per day.

Quick offside question, i'm thinking to monitor till the end of NY session whenever possible. Any experience with this strategy after LC? Looks promising during every session.
I would suggest you spent the weekend to study the thread if you have decided to trade like this.

P.S. kk007 knows a lot about the method, so listen to his advice.
  • #8,929
  • Feb 28, 2013 2:55pm Feb 28, 2013 2:55pm
Quoting kostas1
I would suggest you spent the weekend to study the thread if you have decided to trade like this.

P.S. kk007 knows a lot about the method, so listen to his advice.
After reading the manual and journey, i'm really motivated to stick with this strategy for sure! I'm already hopping around for a year, but somehow this thread really got my attention and also your given proof of myfxbook stats, so i know it CAN be done.

I've decided for myself that i will use the M5 mainly as my trading decissions aswell. After looking back a bit and watching for 2bar retracements, i noticed that there aren't that many signals on M15. So hopefully M5 will balance that a bit more. For now i will trade with the regular Dance rules first, as i have to master the basics first.

Trying to spent my extra time to study every day, when London is closed!
I'm aware of that, i read that KK007 doesn't trade this strategy anymore (?). But still know he has alot of years of experience. Thanks for all the inputs

Hope i can keep posting charts whenever i can't see my own mistakes, to ask feedback from the senseis.

Euxaristo tha ta poume
  • #8,930
  • Feb 28, 2013 2:57pm Feb 28, 2013 2:57pm
Quoting Mones
After reading the manual and journey, i'm really motivated to stick with this strategy for sure! I'm already hopping around for a year, but somehow this thread really got my attention and also your given proof of myfxbook stats, so i know it CAN be done.

I've decided for myself that i will use the M5 mainly as my trading decissions aswell. After looking back a bit and watching for 2bar retracements, i noticed that there aren't that many signals on M15. So hopefully M5 will balance that a bit more. For now i will trade with the regular Dance...
good luck ;-)
On my way to financial independence - if others can do it - I can do it
  • #8,931
  • Mar 1, 2013 12:59am Mar 1, 2013 12:59am
Got a winner to post +20pip
H1.E50 + H4.E10 + DP + S/R + Pinbar
Attached Image (click to enlarge)
Click to Enlarge Name: temp2.gif Size: 28 KB
  • #8,932
  • Mar 1, 2013 1:45am Mar 1, 2013 1:45am
Quoting kk007
Got a winner to post +20pip
H1.E50 + H4.E10 + DP + S/R + Pinbar
Nice trade, noticed it on my charts aswell when i woke up. I would definately take the RN aswell with the h1/35 confluence
Are these rules you are trading with from eohater? Heard some talking about it in this thread, for more experienced traders.

I took a trade aswell on EU with the new "2 bars to get there" rule on m5/35&50.
There was ALOT of volume, hence why my EP is very below. Not sure if it's suggested, but i wanted to trade it nonetheless.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2bar.PNG Size: 100 KB


I used a new TP8 & SL9 since i'm now trading on m5 signals. My first TP hit, moved to BE. Still i'm not sure if it was a solid trade, since the 2bar retracement to 10 looks more solid
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2bar After.PNG Size: 102 KB


PS.
Did GU had a really nice retracement on M15 before it went down with the news? Didn't take it though, i find constrainment trades still hard to trade.
  • #8,933
  • Mar 1, 2013 3:23am Mar 1, 2013 3:23am
Dear Mones, welcome to the thread.

Your trade is not choros.
Also HTFrames are against you!
Very nice HTF trade kk007. A lot of comfluences.
I lost it because I was not so focous.
Screen time is not enough. I have to be more focus.
Anyway I took a classic m15 choros trade later:
1. 2 bars retrace to m15/10
2. m5 confirmation
3. MA's of both m5 & m15 are ok
4. RN ( 1.3050 area)
5. HTFs are with me
My only fear was the big support on Daily at 1.3020
so, the target was a few pips above at 1.3024 byt closed manual at +9.

have a nice weekend & many pips to all.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 22 KB
  • #8,934
  • Mar 1, 2013 4:00am Mar 1, 2013 4:00am
Quoting makonen
Dear Mones, welcome to the thread.

Your trade is not choros.
Also HTFrames are against you!
Hey thanks for a quick respond. I'm trying hard to understand, seems like it's not that simple after all
I can see that the HTF is against me, does that automaticly make it a non-choros trade? It was a 2-bar retracement on M5 & M15, how come it's still invalid? Luckily i got away with some profit i guess.

Nice trade though, i'm having a bit trouble pulling the triger on 10-touches. But i'll get there.
Mind if i ask where your SL is at? The red dotted line around 1.3075 with -40 SL??

Sorry for all the questions, hopefully i can improve alot in a few weeks.
  • #8,935
  • Mar 1, 2013 6:21am Mar 1, 2013 6:21am
.
Attached Image
  • #8,936
  • Mar 1, 2013 6:46am Mar 1, 2013 6:46am
Thanks makonen,

From the chart, I notice that you've traded the M15 EMA5 (instead of EMA10), which I am not familiar with.
Have you practised trading it for a long time?

Quoting makonen
Dear Mones, welcome to the thread.

Your trade is not choros.
Also HTFrames are against you!
Very nice HTF trade kk007. A lot of comfluences.
I lost it because I was not so focous.
Screen time is not enough. I have to be more focus.
Anyway I took a classic m15 choros trade later:
1. 2 bars retrace to m15/10
2. m5 confirmation
3. MA's of both m5 & m15 are ok
4. RN ( 1.3050 area)
5. HTFs are with me
My only...
  • #8,937
  • Mar 3, 2013 2:24pm Mar 3, 2013 2:24pm
Mones: When you have HTframes against you you have a low possibilities trade (not AA trade) and at your trade
you have m5/35-50 & m15/35-50 flat , it means no trend .
About s.loss you have right it was 40 pips but it was also 0,5% risk per trade , the position was too small.

kk007: I consider the m15/10 as a dynamic area and between m15/5 & 10 looking for the trigger at the m5 chart.
  • #8,938
  • Mar 4, 2013 1:47am Mar 4, 2013 1:47am
my entries for today that gave me over 3% profit today. I could keep the trade for longer and get about 20 pips more (x3=60) but my daily target is 3% now so I fought the greed as I can't predict the future
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 110 KB
On my way to financial independence - if others can do it - I can do it
  • #8,939
  • Mar 4, 2013 1:55am Mar 4, 2013 1:55am
this looks like a good entry place, but I always hesitate - when should I start the trade? as even if I'll see that chart starts creating double bottom it may turn to downfall
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 103 KB
On my way to financial independence - if others can do it - I can do it
  • #8,940
  • Mar 4, 2013 2:56am Mar 4, 2013 2:56am
Quoting makonen
Mones: When you have HTframes against you you have a low possibilities trade (not AA trade) and at your trade
you have m5/35-50 & m15/35-50 flat , it means no trend .
About s.loss you have right it was 40 pips but it was also 0,5% risk per trade , the position was too small.
I see, I will go with the H1 trend from now on.
Ahh thats nice if you can afford it, my account is still too small. I think i made another "flat" trade which i want to show here for some feedback.

Quoting Eur Usd
my entries for today that gave me over 3% profit today.
Nice trade, i saw the constrainment happening aswell. Though i'm not that familiar with constrainment trades yet, so i'm just observing them. Why not enter at the constrainment line btw? Or do you wait for PA confirmation first


My first trade of the new week on GU.
Attached Image (click to enlarge)
Click to Enlarge Name: GU shorty.PNG Size: 91 KB


Price shortly went down, but started to hesitate. So i locked 1 position, and moved the other to BE +1.
Attached Image (click to enlarge)
Click to Enlarge Name: GU shorty after.PNG Size: 90 KB


Price eventually took me out, but still got a small +0.50% profit from it.

So.. to wrap up my 1st trade of the week. I'm now being more aware of "2 bars to get there" retracements, on M5 & M15 it had both 2 bars. So i could say i'm improving slowly and steady thanks to you guys The negative thing about this trade is probably that the 35&50 were flat on M15, what do you guys think?
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