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CHOROS System

  • #9,721
  • Oct 10, 2013 6:15am Oct 10, 2013 6:15am
....and here we are: closed manually at 0,82654; -12 pips.

I think, that's a very instructive failed trade:

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I saw constrainment at MA35 but didn't take the lower MAs into account. MA10 literally pushed the price through through my position.

In fact, the 5' chart showed a clear LONG signal at the moment of my short entry:

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Lesson learned, pips lost
Be water, my friend
  • #9,722
  • Oct 11, 2013 2:35am Oct 11, 2013 2:35am
Good morning !
Today I started a little late , but in the rules.
It´s a toch of the 50 ema in EJ M15.
I got it a little late , the touch close to the 50 Ema would be much better!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpycm15.png 11.10.2013.png Size: 39 KB
Risiko birgt immer auch die Chance.
  • #9,723
  • Oct 11, 2013 4:23am Oct 11, 2013 4:23am
Quoting Sesamstrasse
Good morning ! Today I started a little late , but in the rules. It´s a toch of the 50 ema in EJ M15. I got it a little late , the touch close to the 50 Ema would be much better! {image}

It's incredible how this pair runs! I went in even later at MA10 but jumped out at the first hesitation. Too bad... if I had had more guts I'd be some pips richer.
Anyway, I feel Euro is in for a correction soon. Until then I'll stay at the sidelines.

Cheers
spock
Be water, my friend
  • #9,724
  • Oct 11, 2013 4:58am Oct 11, 2013 4:58am
Quoting spocktrader
{quote} It's incredible how this pair runs! I went in even later at MA10 but jumped out at the first hesitation. Too bad... if I had had more guts I'd be some pips richer. Anyway, I feel Euro is in for a correction soon. Until then I'll stay at the sidelines. Cheers spock

It´s not easy with the patience!
..but I ´m better 2 pips than yesterday.. good result for ex scalper like me.
Risiko birgt immer auch die Chance.
  • #9,725
  • Oct 11, 2013 5:08am Oct 11, 2013 5:08am
I lost 10% this week, still on plus, but need to calm down. 3 trading days after weekend, hope EUR/JPY will be trending.

Regarding to GU - few days ago I said about daily chart and touch of 35 sma (at about 1.5960) - it did go down about 30 pips, constrained around 35sma and went back up - I guess for trading on daily you need much wider s/l
On my way to financial independence - if others can do it - I can do it
  • #9,726
  • Oct 11, 2013 6:34am Oct 11, 2013 6:34am
Quoting Sesamstrasse
{quote} It´s not easy with the patience! ..but I ´m better 2 pips than yesterday.. good result for ex scalper like me.
No, it's not easy at all! I'm back in now after the rejection of MA35.... and before having waited for close above MA5/10. I hope I haven't made the same mistake as in the NU trade mentioned above.
Very boring session. Should get out soon.
Be water, my friend
  • #9,727
  • Oct 11, 2013 6:57am Oct 11, 2013 6:57am
Quoting spocktrader
{quote} No, it's not easy at all! I'm back in now after the rejection of MA35.... and before having waited for close above MA5/10. I hope I haven't made the same mistake as in the NU trade mentioned above. Very boring session. Should get out soon.

..missed it , was at lunch .
But I´m in EU long since yesterday evening .
entry was Choros rules but Tp ?? may be 137??
Risiko birgt immer auch die Chance.
  • #9,728
  • Oct 11, 2013 8:05am Oct 11, 2013 8:05am
Quoting Sesamstrasse
{quote} ..missed it , was at lunch . But I´m in EU long since yesterday evening . entry was Choros rules but Tp ?? may be 137??
Since yesterday evening!!! Congratulations! For an ex-scalper that sounds to me like an ex-alcoholic spending a day in front of a bottle of finest scotch whisky.

What do you mean by 137? A EU price of 1,37? Wow, that would be ambitious. Keep in mind that there's important news coming up. The US budget dispute could be settled any time. Or not. As a result the dollar could either jump or plunge. With all that uncertainty you better make sure you either take the pips or lock them in with a nice SL.

Not sure what I'm doing with my GU short which is now +15 pips.

Cheers
Be water, my friend
  • #9,729
  • Oct 11, 2013 8:12am Oct 11, 2013 8:12am
Quoting spocktrader
{quote} Since yesterday evening!!! Congratulations! For an ex-scalper that sounds to me like an ex-alcoholic spending a day in front of a bottle of finest scotch whisky. What do you mean by 137? A EU price of 1,37? Wow, that would be ambitious. Keep in mind that there's important news coming up. The US budget dispute could be settled any time. Or not. As a result the dollar could either jump or plunge. With all that uncertainty you better make sure you either take the pips or lock them in with a nice SL. Not sure what I'm doing with my GU short...

hahaha ! Yes, funny. But I don´t like whiskey, I prefer rum . and yes , have no Idea when I should close my EUR USD trade.!
Looks still like a uptrend.
I was also GU short , but it was the Monthly pivot on the way down and I got stopped with a few pips profit.
I explained it in the choros chat : http://us14.chatzy.com/31231809696996.
But here´s the chart .
Attached Image (click to enlarge)
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Risiko birgt immer auch die Chance.
  • #9,730
  • Oct 12, 2013 5:13am Oct 12, 2013 5:13am
Hi guys - has any of you tried high leverage accounts?
this one http://www.xm.com/ gives 1:888 leverage on max, and minimum account size is as low as 5$
I am tempted to gamble with choros rules. at this leverage 20 pis of move can mean 100% profit, and few pips against mean bankrupcy. I think I'll try their demo after weekend ;-)
On my way to financial independence - if others can do it - I can do it
  • #9,731
  • Oct 12, 2013 8:12am Oct 12, 2013 8:12am
Quoting Eur Usd
Hi guys - has any of you tried high leverage accounts? this one http://www.xm.com/ gives 1:888 leverage on max, and minimum account size is as low as 5$ I am tempted to gamble with choros rules. at this leverage 20 pis of move can mean 100% profit, and few pips against mean bankrupcy. I think I'll try their demo after weekend ;-)
You said it. If you're looking for leverage you're gambling.
Ever heard of a gambler who achieved his financial independence by gamblig? If you risk max. 2% per trade leverage is irrelevant anyway.
Only my 0,02$. Have a great weekend

cheers
Be water, my friend
  • #9,732
  • Oct 12, 2013 8:51am Oct 12, 2013 8:51am
Quoting Eur Usd
Hi guys - has any of you tried high leverage accounts? this one http://www.xm.com/ gives 1:888 leverage on max, and minimum account size is as low as 5$ I am tempted to gamble with choros rules. at this leverage 20 pis of move can mean 100% profit, and few pips against mean bankrupcy. I think I'll try their demo after weekend ;-)

Google "high leverage forex brokers" - some of them give you 1:2000.
F_ck your analysis, I know exactly where the market will go. To the right.
  • #9,733
  • Oct 12, 2013 9:08am Oct 12, 2013 9:08am
Quoting spocktrader
{quote} You said it. If you're looking for leverage you're gambling. Ever heard of a gambler who achieved his financial independence by gamblig? If you risk max. 2% per trade leverage is irrelevant anyway. Only my 0,02$. Have a great weekend cheers
Quoting Taxi Driver
{quote} Google "high leverage forex brokers" - some of them give you 1:2000.

thanks guys for your answers
spock - yes, it would be gambling. betting all the account, 2 loses and the game is over (more likely) ;-) 10 wins in a row and I have few k ;-) (less likely )
I will still trade choros in traditional way. I give myself about 10 years (I lost hopes for "get rich fast") to get somewhere with choros method, but want to test other methods etc in the meantime, and learn more
On my way to financial independence - if others can do it - I can do it
  • #9,734
  • Oct 13, 2013 9:19am Oct 13, 2013 9:19am
Quoting Eur Usd
Hi guys - has any of you tried high leverage accounts? this one http://www.xm.com/ gives 1:888 leverage on max, and minimum account size is as low as 5$ I am tempted to gamble with choros rules. at this leverage 20 pis of move can mean 100% profit, and few pips against mean bankrupcy. I think I'll try their demo after weekend ;-)
Yes, I have some years expirience with it.
Most of them are marketmakers!
And if you have a high risk moneymanagement, you blow your account quikly away.
All you need is in your hand, you have Choros and you don´t need a very large leverage .
1 or 2 % risk you can have also with a 1:10 leverage .
Risiko birgt immer auch die Chance.
  • #9,735
  • Oct 14, 2013 5:38am Oct 14, 2013 5:38am
Today my first entry was this constrainment of the 35 Sma and Ema 50 in EJ .
I´m really not good in finding them , so please could someone better expiriented in Choros explain if I´m right ??
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpycm15.png 14.10.2013.png Size: 43 KB
Risiko birgt immer auch die Chance.
  • #9,736
  • Oct 14, 2013 6:00am Oct 14, 2013 6:00am
Quoting Eur Usd
{quote} {quote} thanks guys for your answers spock - yes, it would be gambling. betting all the account, 2 loses and the game is over (more likely) ;-) 10 wins in a row and I have few k ;-) (less likely ) I will still trade choros in traditional way. I give myself about 10 years (I lost hopes for "get rich fast") to get somewhere with choros method, but want to test other methods etc in the meantime, and learn more
I think it would be better to change the broker feed instead of the lev. Try Alpari_UK. Makes a lot of difference.
  • #9,737
  • Oct 14, 2013 6:00am Oct 14, 2013 6:00am
Quoting Sesamstrasse
Today my first entry was this constrainment of the 35 Sma and Ema 50 in EJ . I´m really not good in finding them , so please could someone better expiriented in Choros explain if I´m right ?? {image}
Oha, America and Japan is closed today.. that explains why there´s no move..
and there will come no priceaction today.. I´m done for today ....
Risiko birgt immer auch die Chance.
  • #9,738
  • Oct 15, 2013 3:07am Oct 15, 2013 3:07am
Good morning.
My first trade today is Ej .
I took the touch at the Sma 35 in H1 .
With a very tight Sl .
Opened with the two bar rule .
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpych1.png 15.10.2013.png Size: 46 KB
Risiko birgt immer auch die Chance.
  • #9,739
  • Oct 15, 2013 6:00am Oct 15, 2013 6:00am
my trade of today.
30 pips taken, 1.8% earned.
my standard tp is 30 pips and the price did just hit my tp and reversed.
entry at touch of 10 ema, exit after 30pips tp.
I also added one more rule to my trading. I lowered leverage from 1:50 to 1:20 - it will allow me to take only 2 positions at max
and I am out from trading today. I failed too many times due to greed - it's better to earn 1.8% a day than loose 50%
Attached Image (click to enlarge)
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On my way to financial independence - if others can do it - I can do it
  • #9,740
  • Oct 15, 2013 6:24am Oct 15, 2013 6:24am
Yen's really fighting back right now and leaves my AJ trade struggling.
Taken at the touch and reverse of MA35. I entered nearly exactly at the close of the candle.
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For future trades I'm thinking about waiting for more confirmation, e.g. close above MA 5/10.
What do you guys think?

cheers
spock
Be water, my friend
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