CHOROS System

200 EMA, he aren't at the CHOROS System but is respected as support and resistence too.

I use 200 EMA as well - a strong support
as about your 35 sma entry - as far as I understood the manual your entry was too late - it should be exactly at the moment when the bar had hit 35sema so suddenly - then you get out once it gets close to pretious level - so your entry should be exit imo - but let's wait till somebody more experienced confirms it.
you could also get in 2 bars before when the price had hit 200 EMA - but it is not choros entry

In fact the 200 is part of the CHOROS system, and it was always yellow in my charts.
See this link from 3 years ago......
http://www.forexfactory.com/showthre...05#post4076805

P.S. The 200 SMA is used since for large MAs the SMA is reacting better than EMA. In any case, I have only very few trades based on this MA and most of those trades were using the 200 as part of a confluence.:nerd:

guys i really really want to learn this method. I did learn about it many months ago but was too confused with the PA setups so i backed off and looked elsewhere. Now i have studied more and more about PA from various sources and it makes much more sense to trade it with this CHOROS method. Please note that I didnt dedicate my time to learn about forex because was busy elsewhere so had my own on and off moments but now i have way more time to learn and most probably starting this September i would be able to focus much more time on my trading so basically Im ready to start trading full time! so hopefully you guys can guide me in the right direction.

So back to topic. This is probably the only long lasting method that can be backtested properly because it doesnt have any repainting indicators and oscilators (often backtest look different with forward testing with such indie). Im not saying any method with repainting indicators dont work, I just want to have more confidence and better learning with true backtest experiment and I couldnt find any other method but this one. Of course eventually i need to forward testing as well which Im going to do starting today.

I haven't read hundreds of pages, only the first 20-30 pages and the past 10 pages (beside the PDF and some links in the doc file from page 1), so i think i might miss some setups (especially those that help us identify fake setups). I am usually specialist in trading EURUSD so maybe I would just use EURUSD with CHOROS method. I dont want to trade 3 currencies at once especially when same setup occurs in 2 currencies usually it's heartbreaking when both turn out to be a losing trade. I started thinking like why on earth I would want to open 2 positions if 90% both going to the same direction? isn't it better to just stick to one currency? After reading some of the pages apparently seniors here agree with such approach. However after reading a lot here, i have some doubts, here are my questions:

1. I read somewhere Kostas1 use daily pivot but what's the importance of pivot here? because different methods use it for different reasons too. Is it to check on natural S/R or to find rejection there? For example we have R1 from pivot at 1.29800 and we are about to enter long position at 1.29750. There's not enough room to get more than 5 pips, do you still take this entry if for example there's no rejection there earlier? How about if there's rejection there few candles back, would you still take the entry?

2. please take a look at attached screenshot (Screenshot_5.png), i assume few pages back that Kostas1 mentioned an entry in EURUSDM15 at 16 July so i quickly checked the chart on that day. I think the 2nd circled pin bar is the correct entry, am I correct? But can you tell me why you didnt choose to enter at the first circled bar?

3. Is it wise to use mechanical but not fixed approach to SL mechanism? I am always a big fan of placing SL below latest low/above latest high. For example if there's a bullish pin bar with low at 1.29800 then my SL is at 1.29760 and my TP is always 1:1 with SL. I have looked at some posts here and apparently people here dont chase something with SL more than 15 pips? So in terms of my SL approach, i only enter at price action where its high/low is not more than 15-20 pips to make sure my TP is also not very big and can be easily reached before price reverse?

4. I read that you use EMA 200 for M15. Does the price need to be above EMA 200 for long or below EMA 200 for short or is it just used for natural S/R? I read your PDF and in the PDF it's mentioned price only has to be above/below EMA 50/MA 35. So the EMA 200 is used for just natural resistance/support?

5. Same question with number 1 but instead of pivot my question now is about round number. Do you use them to check if there's enough "room" to hit TP before it reaches the next RN? or we simply use it to check on rejection? and talking about RN do you consider only BRN (big round number like 1.39000 or 1.38000) or the usual RN (1.39500 is included too)?

6. What happens if there's a touch trade at EMA 50/MA 35 and the angle of both MAs are steep but then the EMA 10 is not on the same agreement with them? (For example the angle of EMA 10 is flat or price is above EMA 10 when we are about to sell)

7. last question is probably more about personal preference. I dont mind trading either GBP or EUR even EURJPY is totally fine but from your personal approach is it wise to just trade EURUSD or if i want to start with 1 currency it's better to start with GBP?

Thanks a lot. Sorry for a lot of questions. Feel free to ignore it if you think it has been answered before.

I found a touch of the 50 ema with a SL less than 4 pips .. under the last candle..
Looked tike the two bar rule when I opened .
But after a couple of minutes I got stopped .

the one before last candle was proper entry point. last one was a third touch imo

Not a good trade since there is no proper trend (35 is below 50).....

This was the correct "scoop-up" trade, no the normal touch on an established trend.
For a normal touch the 35 should be above the 50 and parallel to it...

EDIT: Not the one before last candle, the scoop-up was at 4:30 GMT. I am not trading before London open anyway..

Also BAD news on EUR at the time of long entry.
News dictated shorting the EU, as it eventually fell...SHARPLY.

didn't look at the chart properly as am at work today, so was in a hurry ;-)

Oha , I didn´t know that it is important !
I thought only 10 ema above the two others means long .. and below means short
(regardless of whether 35sma or 50 ema)

Thx that helped much to determine entries!

Yes, it worked.. I locked 12 pips+ and got stopped.. thx.. !!
I found the entry at m5 ..( sry no picture in m5 .. it was a touch at the 35 sma )

I like the Eur/JPY more and more.
I found the constrainment on m5 ..

Just be careful with this pair - it can be real bitch sometimes

Normally I´d prefer the EUR/USD , there I have the lowest spread.
But I have a bad timing for this pair.
And at the moment is a bad priceaction there.
When Frankfurt Stockexchange opened , we had only a move of 5 pips..
..and one rule says..; " do not trade the porcupine"
At the moment I´m a absulute beginner in P/A trading , so I´m looking for a pair , that is simple to trade with this rules.
And EUR/JPY looks really better than EUR/USD I think..

Today I found this touch at cable . ( M15 touch of MA 10 , and at M5 a touch of 35 SMA )

Is it a touch of the MA 50 in the 4 h EUR/USD ??
,..or get I stopped ?
I´m still waiting for my first bigger move with this strategy .

Okay okay okay.. it´s a demo.. but I really work hard on myself to handle this style of trading..
..and 30 pips is a good answer.. ( EUR/USD) m 15 .. .. a good touch of the 35 SMA, the green bar opened with the two bar rule on 50 EMA..
Thx Bernanke ^^
And I think it is possoble to trade EUR/JPY not only fore the overlap time .
Someone else thinking the same ??

The second chart is also EURUSD m15 .. 21 pips locked..

Hey !
One question ;
Ist there still a chatroom working ??
I read on the first pages of CHOROS you had a chatroom .
If it´s still online could you please give me the link to get there??
I promise to do not ask too many stupid questions !
Thx Sesame..

Not that I know off......