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CHOROS System

  • #9,341
  • Jun 19, 2013 2:01am Jun 19, 2013 2:01am
Quoting kostas1
{quote} CHOROS (and other trend based systems) do not work well outside London/early US times. The best hours to trade this is between London open and first 2-3 hrs of US, otherwise you will be whipsawed...... So pick this time window, have some patience for a good opportunity and do not trade everything in sight.
Thanks kostas1. Last week there was some nice stuff during a couple of Asia days, on JPYs, but I take your advice.
  • #9,342
  • Jun 19, 2013 3:52am Jun 19, 2013 3:52am
to confirm kostas' words - always when I was winning before noon and decided to trade after noon I was loosing. same like yesterday.
I am mental crap now :/
On my way to financial independence - if others can do it - I can do it
  • #9,343
  • Jun 22, 2013 11:17am Jun 22, 2013 11:17am
Hi all,

I finally, managed to visit thread after 1 week (I had pc issues) and I can say I am very happy to see new people here. This thread can be the holly grail for clever people. We should all thank Kostas and try to help others like he did with us.

Good weekend to all.
You are allowed to fall but you are imposed to get up!
  • #9,344
  • Jun 26, 2013 9:22am Jun 26, 2013 9:22am
Hi All. A bit about my today's trades.
first blue circle - I did long as It seemed to be double bottom (It seemed but could go against me), at 127.00 (round number) with 19 pips of profit.
then at second blue circle I did a mistake as I thought it is price constrainment and it won't go up - it did, and did silly thing - I moved the s/l behind 35/50 to save trade (it was silly, worked many times but also lost me many times)
green circle - good signal to go down - I used it and stopped (during news release and wide spread) at 127.13 (red circle, all three positions)
short analysis of the day here: http://www.forexfactory.com/showthre...03#post6779603
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On my way to financial independence - if others can do it - I can do it
  • #9,345
  • Jun 26, 2013 11:49am Jun 26, 2013 11:49am
Haven't posted a trade for some time. Here is an advanced trade for those that have studied the method....:nerd:
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  • #9,346
  • Jun 26, 2013 12:04pm Jun 26, 2013 12:04pm
Quoting kostas1
Haven't posted a trade for some time. Here is an advanced trade for those that have studied the method....:nerd:
Congrats Kostas...typical trade from you. I used to take this kind of trades but it has been a while since last time I observed one.

Well done bro!
You are allowed to fall but you are imposed to get up!
  • #9,347
  • Jun 30, 2013 9:18am Jun 30, 2013 9:18am
Quoting kostas1
...Now that the target looks so close, I decided to change my MM yet again as follows: I will not stop increasing the lot size at 33K. I will keep increasing it but with a target of 2% daily growth. I will be very careful to see how my broker behaves at these sizes. So far, when I get requoted it seems to be randomly favorable or not (actually seems most times in my favor).
Hi kostas - I know I am going nearly 3 years back, but what did you mean by "how my broker behaves at these sizes"?
whole post here: http://www.forexfactory.com/showthre...97#post4244997
On my way to financial independence - if others can do it - I can do it
  • #9,348
  • Jun 30, 2013 9:30am Jun 30, 2013 9:30am
Quoting kostas1
I have changed my MM plan somewhat. Since my account is now in 5 digits, I have decided to withdraw 1,000 every 2,000E profit. This will give me some satisfaction and also keep me in lower lot sizes longer so that I can get used to the increased amount of money that bigger lot sizes correspond to. My final target hasn't changed which is getting the account above 30,000E, at which point I will...
out of curiosity (digging deep into thread again - sorry ;-)) - how long did it take you to get from 400 (as far as I remember you started Choros from 400Euro) to 30.000? (was it between March 2010 and Sept 2010?judged by your first post: http://www.forexfactory.com/showthread.php?t=236210 just not sure which March it was ;-)) and were you trading every day? I know that you left your job after getting some real money - how did you cope with choros when you were working full time?
full speech here: http://www.forexfactory.com/showthre...82#post4009782
On my way to financial independence - if others can do it - I can do it
  • #9,349
  • Jun 30, 2013 10:12am Jun 30, 2013 10:12am
Quoting Eur Usd
{quote} Hi kostas - I know I am going nearly 3 years back, but what did you mean by "how my broker behaves at these sizes"? whole post here: http://www.forexfactory.com/showthre...97#post4244997
I had some issues with lag time and slippage in execution back then and I was concerned that at big lots the broker might play tricks one me. Didn't happen so all good.
  • #9,350
  • Jun 30, 2013 10:17am Jun 30, 2013 10:17am
Quoting Eur Usd
{quote} out of curiosity (digging deep into thread again - sorry ;-)) - how long did it take you to get from 400 (as far as I remember you started Choros from 400Euro) to 30.000? (was it between March 2010 and Sept 2010?judged by your first post: http://www.forexfactory.com/showthread.php?t=236210 just not sure which March it was ;-)) and were you trading every day? I know that you left your job after getting some real money - how did you cope with choros when you were working full time? full speech here: http://www.forexfactory.com/showthre...82#post4009782...
Don't have time to look that up, but I am sure it's in the thread somewhere....
In terms of quitting my job, it was very boring in the beginning but I am doing some consulting to keep other interests in my life. All my trading is CHOROS and related techniques (for example I am testing for other MAs at different TFs and currencies to see if something pops out, but usually the M5 CHOROS trading is 95% of my work).
  • #9,351
  • Jun 30, 2013 10:29am Jun 30, 2013 10:29am
and when you were in full time employment - were you trading from work? or were you doing it after coming back home?
On my way to financial independence - if others can do it - I can do it
  • #9,352
  • Jul 1, 2013 2:54am Jul 1, 2013 2:54am
Quoting Eur Usd
and when you were in full time employment - were you trading from work? or were you doing it after coming back home?
It's all in here, read on....
  • #9,353
  • Jul 1, 2013 3:11am Jul 1, 2013 3:11am
Quoting kostas1
{quote} It's all in here, read on....
I'll try to find it , cheers
On my way to financial independence - if others can do it - I can do it
  • #9,354
  • Jul 2, 2013 8:46am Jul 2, 2013 8:46am
Hi

Not sure if all of them are Choros/Dance setups but will share what I found on EJ chart today (unfortunately after fact in most cases)

I noticed that if the price constrains around 10/35/50 over night then around 6-6:30 am it will go in the direction of last trend (first and second red circle)

lower yellow line is daily pivot, upper is R1 - price bounced of the area and went down (third red circle) - I was in this trade once and s/l stopped me (7pips) and was afraid to go for it second time (I should go for it)

after going down it kept for a long time (fourth red circle) between round number and daily pivot point. on h1 it was constrained on 35sma, on 4h it was 10ema, and as you can see movement was nice

now I am looking at blue circle - I think the price will bounce of daily pivot R1 again, but as I locked 40 pips for today (4,2% prifit) - I'll stay away from it.
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On my way to financial independence - if others can do it - I can do it
  • #9,355
  • Jul 2, 2013 2:51pm Jul 2, 2013 2:51pm
Hi.
I ´m new here.
..., but already started reading this thread.
I´d like to know if I better read " the dance " as first, because a little less than 10.000 posts will need a while .
THX Sesam
Risiko birgt immer auch die Chance.
  • #9,356
  • Jul 3, 2013 6:08am Jul 3, 2013 6:08am
Quoting Sesamstrasse
Hi. I ´m new here. ..., but already started reading this thread. I´d like to know if I better read " the dance " as first, because a little less than 10.000 posts will need a while . THX Sesam
read manual first imo
On my way to financial independence - if others can do it - I can do it
  • #9,357
  • Jul 3, 2013 6:29am Jul 3, 2013 6:29am
thanks Costas
tried out the Choros and found the beat
took me a few trades but now am up 130 this month alone on EurUSD
confirms my own system trades
as you said its a dance
  • #9,358
  • Jul 3, 2013 6:35am Jul 3, 2013 6:35am
Quoting Eur Usd
{quote} read manual first imo
Definately a good place to start!

Big thing about "The Dance" or "Chorros", its not a system, but its using price action around the 10/50 EMA and 35 SMA. Either way, read the manual and read the thread. Its time well spent.
Damn The Torpedoes, Full Speed Ahead!
  • #9,359
  • Jul 4, 2013 2:26pm Jul 4, 2013 2:26pm
Very intresting Thread.
As first : Thx for sharing this system ! Ευχαριστούμε ^^
So what do you thing with what timeframe I should start on a demo ??
I just read a small part of the thread and I will need some weeks to finnish it .
So wich one is the simple way to study this art of trading ?
Could someone give me a tipp ?

Thx Sesam
Risiko birgt immer auch die Chance.
  • #9,360
  • Jul 5, 2013 1:10pm Jul 5, 2013 1:10pm
Quoting Sesamstrasse
Very intresting Thread. As first : Thx for sharing this system ! Ευχαριστούμε ^^ So what do you thing with what timeframe I should start on a demo ?? I just read a small part of the thread and I will need some weeks to finnish it . So wich one is the simple way to study this art of trading ? Could someone give me a tipp ? Thx Sesam
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Dude! At least read the manual. Your research is the "Only" easy way... Period! :nerd:
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