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CHOROS System

  • #9,061
  • Edited 8:12am Mar 16, 2013 7:08am | Edited 8:12am
looks good to me (THANK YOU VERY MUCH CLAY) and something new as well. regarding to double tops/bottoms - the wicks don't seem to be even, and manual says they have to be exactly the same. anyway - when I see double top/bottom forming - when should I enter? I ask as many times they appeared to be fake and i.s.o. reversing were going same direction

edit: I found an answer - close of second bar of double top/bottom.
On my way to financial independence - if others can do it - I can do it
  • #9,062
  • Mar 16, 2013 10:29am Mar 16, 2013 10:29am
Quoting Eur Usd
looks good to me (THANK YOU VERY MUCH CLAY) and something new as well. regarding to double tops/bottoms - the wicks don't seem to be even, and manual says they have to be exactly the same. anyway - when I see double top/bottom forming - when should I enter? I ask as many times they appeared to be fake and i.s.o. reversing were going same direction

edit: I found an answer - close of second bar of double top/bottom.
Didn't Kostas just make a whole post about adapting making the system yours? Stop asking so many questions, open a chart, and do some backtesting. You'll learn far more from that than from having someone tell you what to do.
What is any ocean but a multitude of drops?
  • #9,063
  • Mar 16, 2013 10:36am Mar 16, 2013 10:36am
Quoting Xhale
Didn't Kostas just make a whole post about adapting making the system yours? Stop asking so many questions, open a chart, and do some backtesting. You'll learn far more from that than from having someone tell you what to do.
you're right, I talk too much ;-) - I'll try to improve
On my way to financial independence - if others can do it - I can do it
  • #9,064
  • Mar 16, 2013 10:27pm Mar 16, 2013 10:27pm
Thanks eclayf and kostas1 for posting. I would like to take this chance to address a few points to reply your last post.

1. Trading is not easy, it is difficult, not only emotion makes it difficult, but it is difficult technically even play it emotionless. It is easy to see it on the chart with all the hindsight price movement.

2. It is good to be positive, but it is not fully honest to highlight only winners and neglect all the losers in a trading method. And thus, I think we should allow people talking about losers here, instead of criticizing them.

3. About the chart and setups you posted, I have the comment below ( I don't know if there is any further discussion on them ).

a. GU: I found that you have mention GU has been a B**** lately and I agree with you,
b. EU: I did not see your posting of EU, not sure if you didn't find any good setups with it lately, as I would agree.
c. EJ: I did not know there is "one bar retrace entries" like that in Dance (Comment on next post)
d. AU: Want to comment on the scoop and 2-wicked setup (Next next post)
  • #9,065
  • Edited 11:01pm Mar 16, 2013 10:33pm | Edited 11:01pm
These are the EJ charts:

Figure 1:
As you said I don't know there is "one bar retrace entries" to EMA10 with such a tight distance in Dance method, I wonder if the 2 red-allow-pointed are loser examples.
Is the leftmost red-arrow-pointed a classic failure of 2 bar retracement to EMA10 + Round no. touch?

Figure 2:
I have 2 losers on EJ on the last 2 days, applying the idea of double bottom rejection. As pointed on the chart, the first double bottom was against EMA10, and the second is against H1.35/50 + H4.10 + RN 1.2500 + S/R (See red arrows)

As posted eariler:
http://www.forexfactory.com/showthre...19#post6514319
http://www.forexfactory.com/showthre...75#post6518375
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  • #9,066
  • Mar 16, 2013 10:38pm Mar 16, 2013 10:38pm
AU Chart,

I wonder if the red arrows pointed the failure cases.
The first red arrow would be a possible scoop up entry?
The second red arrow pointed at a 2 long wick rejection against the EMA10, and should be a buy signal?
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  • #9,067
  • Mar 17, 2013 4:39am Mar 17, 2013 4:39am
Quoting kk007
And thus, I think we should allow people talking about losers here, instead of criticizing them.
There was never criticism about posting losers here, in fact I said in the past that those are useful to pinpoint the intricacies of trading this way. Please feel free to post and discuss all your Dance/Choros related trades in this thread.
  • #9,068
  • Mar 17, 2013 4:42am Mar 17, 2013 4:42am
One more reply from Clay sent to my email.

KK has picked some really bad examples to dispute things with. Comments on the charts, and with this I'll let it drop. If anyone else wants to try to pick it apart, go ahead. Don't bother to learn price action setups, just stick to a "holy grail" and get killed. Price action is always king, the higher the time frame, the more likely it will work. On shorter time frames, stick with momentum "with the trade" entries.

If you really want to learn, setup an M15 chart and put on the tester and drop the averages totally and learn to trade exclusively price action for a while. You learn quick that way. The MA's were always "eye candy" as I said in the manual, they are a guide, not a commandment carved in granite with God's finger.

Endroute trades ONE ma on his charts, I have a friend who lookes for ONE SINGLE TYPE OF BAR on m15 to enter on "with the trend" and does ok. It's always been about training yourself to see what works for YOU. No one sees the charts the same as Endroute, or Kostas, or me, or anyone else. Everyone has life experiences that shape the way they "see" things. USE IT, master it, make it yours.

I won't interrupt the thread again Kostas, you're doing a wonderful job and your success is comment enough.
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  • #9,069
  • Mar 17, 2013 5:21am Mar 17, 2013 5:21am
@KK007 - always when I see something goes worse with my method I grab dance manual and read it's rules. it helps. maybe try trading on m5? sometimes when I see no entry point on m15 I switch to m5 and find something - it's more like scalping, but few pips are better than nothing
On my way to financial independence - if others can do it - I can do it
  • #9,070
  • Edited 6:30am Mar 17, 2013 6:09am | Edited 6:30am
Quoting kostas1
KK has picked some really bad examples to dispute things with.
Thanks for replying. I would like to point out that I am not trying to make up something to create argument here.
Perhaps, something is plain and simple to you is not so obvious to me.
I am looking at your comment, and I don't think I understand more than half of it.


Quoting kostas1
If you really want to learn, setup an M15 chart and put on the tester and drop the averages totally and learn to trade exclusively price action for a while. You learn quick that way. The MA's were always "eye candy" as I said in the manual, they are a guide, not a commandment carved in granite with God's finger.
Thanks for your suggestion. I will try at some point in my life.
  • #9,071
  • Mar 17, 2013 6:11am Mar 17, 2013 6:11am
Quoting Eur Usd
maybe try trading on m5? sometimes when I see no entry point on m15 I switch to m5 and find something - it's more like scalping, but few pips are better than nothing
If I can't master the M15 dance with the detailed manual,
do you think I can master M5 choros without a proper manual?
  • #9,072
  • Mar 17, 2013 6:18am Mar 17, 2013 6:18am
Yes, perhaps 1 is some bad examples, I have no experience in these tight distance 1 bar retracement to EMA10 setups. So, I have no idea what is a good setup.
For 2, you see the formation of the top wick only after the bar close. If a touch trade is taken you enter at the touch of the EMA10, one will not see the final bar formation of the second bar. I am not so sure if it is going to scoop down, but I can see price went down on hindsight..

http://www.forexfactory.com/attachme...8&d=1363513339
  • #9,073
  • Mar 17, 2013 6:23am Mar 17, 2013 6:23am
For the second loser, "1", I entered based on H1.35/50 + H4.10 + Round + S/R, the H1 35/50 was bending up at the moment of entry

http://www.forexfactory.com/attachme...9&d=1363513339
  • #9,074
  • Edited 10:06am Mar 17, 2013 6:28am | Edited 10:06am
I can't argue with the one, I don't think I can make any intelligent argument.
I just feel the judgement is quite subjective.

http://www.forexfactory.com/attachme...0&d=1363513339

P.S. In fact, I wasn't able to completely understand the comments.
1. Is scoop up triggered at the touch of EMA10 rather than COB?
  • #9,075
  • Mar 17, 2013 7:24am Mar 17, 2013 7:24am
Quoting kostas1
There was never criticism about posting losers here, in fact I said in the past that those are useful to pinpoint the intricacies of trading this way. Please feel free to post and discuss all your Dance/Choros related trades in this thread.
Thanks kostas1 for clarifying.
  • #9,076
  • Mar 17, 2013 9:28pm Mar 17, 2013 9:28pm
After reading the discussion reply I become confuse which one has to be taken, exact touch of MA or COB (close of bar)? I know lose is part of the game, but if you have so many loses so does you lose your mental.
  • #9,077
  • Mar 17, 2013 11:08pm Mar 17, 2013 11:08pm
Quoting koi99
After reading the discussion reply I become confuse which one has to be taken, exact touch of MA or COB (close of bar)? I know lose is part of the game, but if you have so many loses so does you lose your mental.
If you found there are many loses posted in the recent discussion, I think you better re-read.
About mental thing, I would insist that it is difficult to win even trade with no emotion.
Of course, it is very easy to scan a chart and say where the winning setups are,
with all the hindsight shown on a historical chart.
  • #9,078
  • Mar 20, 2013 3:23am Mar 20, 2013 3:23am
I took this trade at touch of 10ema (green circle) and got only 8pips (red circle) - but got 1% profit
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On my way to financial independence - if others can do it - I can do it
  • #9,079
  • Mar 20, 2013 3:25am Mar 20, 2013 3:25am
and another just after, unfortunately I missed it
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On my way to financial independence - if others can do it - I can do it
  • #9,080
  • Mar 20, 2013 4:41am Mar 20, 2013 4:41am
and another nice one, almost 40 pips to catch
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On my way to financial independence - if others can do it - I can do it
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