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CHOROS System

  • #9,281
  • Jun 9, 2013 9:51am Jun 9, 2013 9:51am
Hi All

Have any of you ever tried to do EA for choros/dance trading method?
somebody gave me this idea in divverent thread http://www.forexfactory.com/showthre...70#post6740370 and I was wondering what is your opinion on it and if anybody ever tried?
I don't even trade MT4 but if EA would help me in trading then why not?
of course I would controll it all the time, but I wouldn't have to stare at the monitor and it would reduce my mentality's problems
On my way to financial independence - if others can do it - I can do it
  • #9,282
  • Jun 9, 2013 12:23pm Jun 9, 2013 12:23pm
Quoting Eur Usd
Hi All Have any of you ever tried to do EA for choros/dance trading method?
Search for Haydel's name in this thread.
Riding the order flow
  • #9,283
  • Jun 10, 2013 1:14am Jun 10, 2013 1:14am
One such EA i saw just few post back posted by arha, i found it very nice catching 10ema touch, i tested it on 15TF,H1TF,H4TF its working fine, i am using it on my demo account for the moment , i pm him to make it for 50 and 35 touch also that would be gr8 if we can set option in ea that currently which touch we are looking for after our analysis.

Regards,
Fx Hunter
  • #9,284
  • Jun 10, 2013 4:57am Jun 10, 2013 4:57am
Quoting benjam1n
Loving learning this stuff! Does anyone know the particular reason for the specific MAs used? With a touch trade, how do you know that the candle will reverse upon entry when it touches the MA? Or do you just hope it does? Thanks.
The only thing I know is that these MAs are used by most traders around the world. It is like fibo levels etc. We know that the candle will reverse when it touches the MA because we enter when we see a confluence. For example if we have H4 35/50 touch in confluence with H1 200 touch it is most likely for the price to reverse. If we have confirmation from price action in other time frame it will be even better etc...

I hope this helps!
You are allowed to fall but you are imposed to get up!
  • #9,285
  • Jun 10, 2013 10:24am Jun 10, 2013 10:24am
Hopefully the gap in AUD/USD will be filled by the end of the day.

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You are allowed to fall but you are imposed to get up!
  • #9,286
  • Jun 10, 2013 8:21pm Jun 10, 2013 8:21pm
My first CHOROS/M15 Dance trade (on demo)

AUDUSD M15. Price touched the 10EMA, and bounced further down. Took 15 pips, but could have had more. Still, I am aiming for consistency and simplicity at the moment, so I'm not going to wrestle it. Could also have taken the EURUSD long, though it didn't quite touch the 10EMA.
Attached Image (click to enlarge)
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  • #9,287
  • Jun 10, 2013 11:30pm Jun 10, 2013 11:30pm
Second one went to breakeven. Comments welcome.

It doesn't show, but the tail on the pinbar is about 12 pips, and I got in a few minutes late, where price had gone short, so my entry was not super great. I stuck with the rules (I think) and had a tight SL, and moved to BE "quickly". However, I got stopped out there.

I'm happy, though, if this was the right way to trade it. Or should I have let it breathe a little more?

Comments welcome
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  • #9,288
  • Jun 10, 2013 11:55pm Jun 10, 2013 11:55pm
Third trade went to profit, for 17 pips profit from 14.9 pips SL.

The SL was too lose according to the rules, but I kinda scaled it to the size of the wick. I wasn't brave enough to scale the TP also, so ended up with a smidge over 1:1 R:R

Edit: perhaps this one was not really according to the rules. The MA touch was on the previous candle, but I took the red candle as the inside bar entry.
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  • #9,289
  • Jun 11, 2013 7:59am Jun 11, 2013 7:59am
Two losing trades. Anyone care to help me analyse to see if I should have stayed out?

On both EURUSD and USDCHF, the "pinbar" was spread over two candles, as can be acceptable according to the dance manual.
Attached Image(s) (click to enlarge)
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  • #9,290
  • Jun 11, 2013 8:07am Jun 11, 2013 8:07am
Quoting idempotent
Two losing trades. Anyone care to help me analyse to see if I should have stayed out? On both EURUSD and USDCHF, the "pinbar" was spread over two candles, as can be acceptable according to the dance manual. {image} {image}
I am too busy working today, some day will take a look at it. but to be honest it will happen that you will loose as well even if the entry was according to choros rules.
On my way to financial independence - if others can do it - I can do it
  • #9,291
  • Jun 11, 2013 9:11am Jun 11, 2013 9:11am
Quoting idempotent
Two losing trades. Anyone care to help me analyse to see if I should have stayed out? On both EURUSD and USDCHF, the "pinbar" was spread over two candles, as can be acceptable according to the dance manual. {image} {image}
hello dancer, I was looking watching, and one of the reasons why I decided to not go is because the eurusd was really stuck to the Daily R1,

I was looking watching, and one of the reasons why I decided to not go is because the eurusd was really stuck to the Daily R1,

I can see with this indicator Autopivotindicador_ver5, is located in this thread attachments
  • #9,292
  • Jun 11, 2013 9:17am Jun 11, 2013 9:17am
Quoting foxterbotell
{quote} hello dancer, I was looking watching, and one of the reasons why I decided to not go is because the eurusd was really stuck to the Daily R1
Thanks for that. I'm not (yet) using pivots or BRNs. Currently looking at only MA touches and S/R, until I get a feel for it. I appreciate your help.
  • #9,293
  • Jun 11, 2013 9:19am Jun 11, 2013 9:19am
And a great opportunity on USDCHF, and I was looking the other way.
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  • #9,294
  • Jun 11, 2013 10:18am Jun 11, 2013 10:18am
Another win. The touch was pretty good, but I missed it. Price came back to the entry I should have got, but by the time I decided to take it, it had come back down again. So my entry was not so sharp, but the result was slightly greater than 1:1

I like CHOROS.
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  • #9,295
  • Jun 12, 2013 7:08am Jun 12, 2013 7:08am
Two more from a little while ago - one winner, one loser. Analysis welcome. Arrows mark the entry.
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  • #9,296
  • Jun 12, 2013 8:05pm Jun 12, 2013 8:05pm
Enjoying the dance.

Here's AUDJPY from this morning (Aus time). I entered just before the end of the signal bar, and I feel I could have managed the trade for more profit, by manually trailing the SL and TP. But it reached TP just as I was about to adjust the levels. Still, happy with a 1 : 1.5 trade

I break the rules by not sticking with the smaller stops as per the manual. In this case, a 9-11 pip SL would have been awesome, but I tend to stick with putting the SL just above the signal candle. How hard and fast do you gurus perceive the 9-11 pip SL?
Attached Image (click to enlarge)
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  • #9,297
  • Jun 12, 2013 8:52pm Jun 12, 2013 8:52pm
My 10th CHOROS trade, a winning buy on EURUSD. This one didn't dawdle, and went to profit pretty quickly.

I must admit, I know I'm still not doing this fully "the right way" but I am enjoying the simplicity of this, and the quick feedback that the trade give you.

Still in demo, though.

10 trades: 6 winners, 3 losers, one BE
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  • #9,298
  • Jun 13, 2013 1:24am Jun 13, 2013 1:24am
Quoting idempotent
My 10th CHOROS trade, a winning buy on EURUSD. This one didn't dawdle, and went to profit pretty quickly. I must admit, I know I'm still not doing this fully "the right way" but I am enjoying the simplicity of this, and the quick feedback that the trade give you. Still in demo, though. 10 trades: 6 winners, 3 losers, one BE {image}
Stay in demo until you get the hang of it, then go live with a very small risk and if you are consistent start raising the risk according to your plan.
  • #9,299
  • Jun 13, 2013 1:26am Jun 13, 2013 1:26am
Quoting kostas1
{quote} Stay in demo until you get the hang of it, then go live with a very small risk and if you are consistent start raising the risk according to your plan.
Thanks, kostas1. Was hoping you'd speak up. Your inspiration has lead me here to this particular thread.

How are you currently trading CHOROS? As per the manual?

Notably I see some trades today on JPY but later in the trading session, so I let them go. They would have worked, but I am trying to stick to the rules.

Also, what's your thoughts on sticking with the 9-11 pips SL? Surely that varies by pair?
  • #9,300
  • Jun 13, 2013 3:24am Jun 13, 2013 3:24am
Quoting idempotent
{quote} Thanks, kostas1. Was hoping you'd speak up. Your inspiration has lead me here to this particular thread. How are you currently trading CHOROS? As per the manual? Notably I see some trades today on JPY but later in the trading session, so I let them go. They would have worked, but I am trying to stick to the rules. Also, what's your thoughts on sticking with the 9-11 pips SL? Surely that varies by pair?
9-11 pips SL on JPY will kill you for example. Also dependent on timeframe. Still using mostly the M5 in my trading....
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