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CHOROS System

  • #9,081
  • Mar 20, 2013 5:05am Mar 20, 2013 5:05am
and another nice one
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On my way to financial independence - if others can do it - I can do it
  • #9,082
  • Mar 20, 2013 5:15am Mar 20, 2013 5:15am
Another hindsight god appears.
  • #9,083
  • Mar 20, 2013 5:18am Mar 20, 2013 5:18am
and something non choros. reaction of GBP/USD for news releases - the 10EMA was starting to indicate bear, and the news release pull it up over 100 pips. I was going to trade the news but I forgot to, and it's good for me because I'd focus on Claimant Count Change and go south (with 10 ema confirmation, but market reacted rather on unemployment rate - at least that's how I see it
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On my way to financial independence - if others can do it - I can do it
  • #9,084
  • Mar 20, 2013 5:21am Mar 20, 2013 5:21am
Quoting kk007
Another hindsight god appears.

I didn't catch all of them, but got 31 pips today with 3,9% of profit
you seem to be very negative recently - take a rest for few days off forex
On my way to financial independence - if others can do it - I can do it
  • #9,085
  • Mar 20, 2013 5:33am Mar 20, 2013 5:33am
Hi all, in first place I’d like to express my gratitude to Endroute, Clay, Kostas1 and many, many others (Leemonk, Survivor… well it’s a long list of helpers!)
I am a real newbie in forex (they keep coming uh?), for the last couple of months I’ve been reading the old Dance thread, getting angry with past incidents, mentally arguing over charts and posts, dissecting the manuals, trying the sim and demo, doing my best to learn, trying to improve my mental attitude, I really hope I’ll be ready for live trading some day, I’m not there yet.

The Dance approach makes completely sense to me, I can “see” now!! (I cannot trade though).

If I am allowed I’d like to ask your opinion about something: I used the simulator to identify, over the last month GBPUSD 15M, only one kind of trade, the 35/50 touch, filtering it with the check list on page 15 of the Simple Dance M15 manual. Just to test if I’m really able to recognize those trades.
My plan is to slowly keep adding other types of trades to my toolbox, even if I can recognize other touches and constrainments (like the very evident one on 4th March).

I used always SL and TP of 15pips, and let them run without closing early or trailing stops, just as an experiment.

I could find only a bunch of them, scarcely one or less a day, many of them were losers…

My question is: could some of the more experienced traders here give an idea of how the market has evolved in the last years, in order to give us newbies a hint of possible adaptations to the original strategy?

I understand that “price action is king” and I’m trying hard to immediately recognize PA setups, that eventually could work without considering Mas at all, but regarding the Dance, I guess one has to master the basics before trying to adapt it.

Sorry for the long post.
Thank you all again.
Good judgement comes from experience, experience comes from poor judgement
  • #9,086
  • Mar 20, 2013 6:14am Mar 20, 2013 6:14am
Quoting jurtzi
Hi all, in first place I’d like to express my gratitude to Endroute, Clay, Kostas1 and many, many others (Leemonk, Survivor… well it’s a long list of helpers!)
I am a real newbie in forex (they keep coming uh?), for the last couple of months I’ve been reading the old Dance thread, getting angry with past incidents, mentally arguing over charts and posts, dissecting the manuals, trying the sim and demo, doing my best to learn, trying to improve my mental attitude, I really hope I’ll be ready for live trading some day, I’m not there yet.

The Dance...

Hi pal
the market didn't evolve, the method still works, but it works depending on market circumstances better or worse (works better on strong trending market and worse on sideways or with weak trend). GBP/USD you gave example recently was crap in my opinion, and yes, it had a lot of fakes. EUR/USD or EUR/JPY is better, but be carefull with the JPY.
On my way to financial independence - if others can do it - I can do it
  • #9,087
  • Mar 20, 2013 6:23am Mar 20, 2013 6:23am
Quoting Eur Usd
Hi pal
the market didn't evolve, the method still works, but it works depending on market circumstances better or worse (works better on strong trending market and worse on sideways or with weak trend). GBP/USD you gave example recently was crap in my opinion, and yes, it had a lot of fakes. EUR/USD or EUR/JPY is better, but be carefull with the JPY.
Thank you, my mistake: market doesn't evolve, and is never wrong, i'ts just the way we analyze it that will fit one or other different condition. I know the method works. I guess some tweaks to SL and TP values are needed according to the existing conditions in different pairs... still trying to find my way.
Good judgement comes from experience, experience comes from poor judgement
  • #9,088
  • Mar 20, 2013 6:25am Mar 20, 2013 6:25am
Quoting jurtzi
... still trying to find my way.
good luck mate. in this economic climate I don't feel safe, that's why I keep trying with forex
On my way to financial independence - if others can do it - I can do it
  • #9,089
  • Mar 20, 2013 6:42am Mar 20, 2013 6:42am
now a loosing trade. I thought it will be price constrainment on 10 ema - but it wasn't - 7pips s/l
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On my way to financial independence - if others can do it - I can do it
  • #9,090
  • Mar 20, 2013 6:50am Mar 20, 2013 6:50am
Quoting Eur Usd
now a loosing trade. I thought it will be price constrainment on 10 ema - but it wasn't - 7pips s/l
Constrainment for a long wilth 10EMA going south? Anyway M5 was pretty clear...
Good judgement comes from experience, experience comes from poor judgement
  • #9,091
  • Mar 20, 2013 6:52am Mar 20, 2013 6:52am
my misinterpretation ;-)
On my way to financial independence - if others can do it - I can do it
  • #9,092
  • Mar 20, 2013 7:14am Mar 20, 2013 7:14am
I tried same trade again. m5 was showing a touch of 35/50, on m15 the price started going up again. I tried, and it went up 30 pips, after it dropped down 5 pips I took the 25 pips and I am off for today I think, until I'll spot really good opportunity. BTW I was trailing s/l as well, first to +5 then +15, but preferred to close it manually. now I see it went even 12 pips higher but you can't have all the pips on earth LOL
6,1% profit today with 51 pips caught. 5 good trades and 1 bad trade. best run was 25.8 pips and just this one gave me my daily target - over 3% profit.
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On my way to financial independence - if others can do it - I can do it
  • #9,093
  • Mar 20, 2013 7:17am Mar 20, 2013 7:17am
Quoting Eur Usd
I tried same trade again. m5 was showing a touch of 35/50, on m15 the price started going up again. I tried, and it went up 30 pips, after it dropped down 5 pips I took the 25 pips and I am off for today I think, until I'll spot really good opportunity. BTW I was trailing s/l as well, first to +5 then +15, but preferred to close it manually. now I see it went even 12 pips higher but you can't have all the pips on earth LOL
6,1% profit today with 51 pips caught. 5 good trades and 1 bad trade. best run was 25.8 pips and just this one gave me my daily...
Well done! I'm taking your advice and focusing mainly in EU/EJ.
Good judgement comes from experience, experience comes from poor judgement
  • #9,094
  • Mar 20, 2013 7:19am Mar 20, 2013 7:19am
Quoting jurtzi
Well done! I'm taking your advice and focusing mainly in EU/EJ.
AUD/USD is good as well recently, but I prefer to focus on 1-2 pairs and master them.
regarding to EJ - it can be a bitch. the other day it dropped 600 pips in just one day - and I don't think many people managed to catch it. I am carefull with it and rather observe than try to trade
On my way to financial independence - if others can do it - I can do it
  • #9,095
  • Mar 20, 2013 7:31am Mar 20, 2013 7:31am
I didn't go for this one but looks good. price went down to quite steep 10ema and bounced back - 10 pips to catch.
I didn't go for it as GBP budget is about to be released - was afraid of the impact so was just watching
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On my way to financial independence - if others can do it - I can do it
  • #9,096
  • Mar 21, 2013 5:08am Mar 21, 2013 5:08am
Wait for weeks to catch one by-the-rule setup.

Adaption? Almost 100% of my adaptive trades are losers..
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  • #9,097
  • Mar 21, 2013 5:09am Mar 21, 2013 5:09am
I got this one as well with tp at 1.2880
s/l already at be+2

edit: I got out as the price was hesitating around 1,29
I had 3 standard positions set on it so got 40pips
5,1% earned today, I think its time to rest and wait for another setup, but without rush on it as my daily target is 3% (I go further if possible anyway)
On my way to financial independence - if others can do it - I can do it
  • #9,098
  • Mar 21, 2013 5:15am Mar 21, 2013 5:15am
Quoting kk007
Wait for weeks to catch one by-the-rule setup.

Adaption? Almost 100% of my adaptive trades are losers..
Touch of 35sma on H1 and nice hangman in M5, fantastic!
Note to self: don't move to BE too soon!
Good judgement comes from experience, experience comes from poor judgement
  • #9,099
  • Mar 21, 2013 5:38am Mar 21, 2013 5:38am
I'll be waiting now till price will hit 1.2930 and will take a trade south - 35/50 and 200 meets there so looks like opportunity if price gets there within nearest half an hour
On my way to financial independence - if others can do it - I can do it
  • #9,100
  • Mar 21, 2013 5:41am Mar 21, 2013 5:41am
Quoting kk007
Wait for weeks to catch one by-the-rule setup.

Adaption? Almost 100% of my adaptive trades are losers..

did you take any profit of this trade? I ask as it came back to 10ema
On my way to financial independence - if others can do it - I can do it
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