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CHOROS System

  • #10,061
  • Nov 29, 2013 10:38am Nov 29, 2013 10:38am
Hawk - You probably should have put "psychology" in all caps.
Thanks, and best wishes.

Jack
Run from Uncle Sam - trade offshore! - http://tradersway.com/?ib=1004609
Writer, currency trader, madman
  • #10,062
  • Edited 12:38pm Nov 29, 2013 10:44am | Edited 12:38pm
...........
  • #10,063
  • Nov 29, 2013 10:47am Nov 29, 2013 10:47am
28 traders viewing now, 3 are members: Sesamstrasse, Invisible, Invisible

Donīt be shy !
Donot hesitate to sign in and be a part of a great thread .
Iīd be happy ro read more posts to have step by step more success!

I wish all dancers a wonderful weekend.
Guido
Risiko birgt immer auch die Chance.
  • #10,064
  • Nov 29, 2013 11:13am Nov 29, 2013 11:13am
Cheers to all you lovely people . . .


Have an awesome weekend !

Quoting Sesamstrasse
I wish all dancers a wonderful weekend.
Attached Image
  • #10,065
  • Nov 29, 2013 11:58am Nov 29, 2013 11:58am
Quoting jbmaverick
Hullo, boys and girls. Jack
Hey Jack, nice to hear from you.
How is the book-writing going?
Take care buddy !
  • #10,066
  • Nov 29, 2013 12:21pm Nov 29, 2013 12:21pm
Kostas! Good to "see" you!
I finished a novel, but in all honesty it could still use a slight rewrite, it's probably about 50 pages too long - It's available on Amazon - "A Cross of Hearts".
So, are you a double-digit millionaire yet? I, alas, am not - foolishly got away from trading for awhile...working back into it now. Check out that Hull Style ADX on the 4-hour time frame I mentioned - another trader pointed it out to me just a couple of months ago, and it's been so reliable that I rarely take any trade where that indicator isn't at least in my favor on a 1-hour time frame, but what most impressed me is how consistently it signalled a trend change ahead of various other indicators I had set up on 4-hour charts. I've no idea why the Hull Style ADX seems to work so well, but it does, often giving a signal that traditional ADXs miss, or running notably ahead of them anyway.
I remain eternally grateful to you for getting me to pay more attention to the 5-minute charts - may God grant us lots of pin bars!
All the best - have a wonderful weekend.
Writer, currency trader, madman
  • #10,067
  • Nov 29, 2013 12:49pm Nov 29, 2013 12:49pm
Quoting jbmaverick
Hullo, boys and girls. Haven't been by in awhile (quite awhile), but just wanted to say that - two years after discovering it - I have yet to find a better basic strategy for intraday trading. Trust it, work with it, master it. P.S. On the 4-hour time frame, I have found the Hull Style ADX to be a reasonably (i.e., significantly more right than wrong) reliable indicator, often offering very good early entry points. Just a thought. Jack

hello
can you write a bit more about your method?
always good to learn new things
On my way to financial independence - if others can do it - I can do it
  • #10,068
  • Nov 29, 2013 1:23pm Nov 29, 2013 1:23pm
Quoting Eur Usd
{quote} hello can you write a bit more about your method? always good to learn new things
Eur - Well, I basically intraday trade using the Dance/Choros strategy on the 15-minute charts - go with whatever side of the 50 the 5 and 10 are running on...unless I feel very strongly about a trade, I'll usually kick out if price goes more than 5 or 6 pips past the 10 against me, and then possibly re-enter on a first touch of the 50. Over time, I've gotten to where I'll often go with simply price crossing the 50, even if the 5 and 10 haven't quite made it there yet, as long as both are pointing strongly in that direction.
On higher time frames, I watch the Hull Style ADX on both the one-hour and 4-hour charts, taking into consideration daily pivot points, support/resistance lines,, etc. Also, while volume is a tricky thing with forex, I do watch for significant spikes or drops in volume, using just a basic volume indicator, nothing fancy.
Basically I'm always looking for trades where I can risk next to nothing - like buying aud/usd at .9400 with a stop around .9394 - but have a good potential reward, at least two or three times what I'm risking - I watch the daily range, and if, say, eur/usd is at the top of what's already a 120 pip range, I don't bet on it going up another 50 pips, or certainly not doing that and holding onto it. I'm not averse to taking the same position multiple times after having been stopped out for small profits or losses if the market still looks reasonably like it might go my way.
I also watch the ranges and general direction of each session - Asian, London, New York - to me, it's usually a key reversal sign if London moves strongly in one direction in the morning, but then reverses back through its open after New York opens.
I do NOT try to out-guess the monthly NFP Report.
And every now and then, my intuition will just scream at me, "Hit that sell button on Gbp/Usd".
I'm hampered by my ingrained prejudices in favor of aud and gbp and against eur.
I try to catch a nice trend day when possible - there's usually at least one every week or two - and the rest of the time, I'm more focused on minimizing losses - I've found over time that if you can just avoid taking big hits, big wins will roll around often enough to keep your account growing.
Writer, currency trader, madman
  • #10,069
  • Nov 29, 2013 1:31pm Nov 29, 2013 1:31pm
Unfortunately, there are no magic, infallible indicators - but there are things, like the 50, 100, and 200MA, that one should keep an eye on.
But I think one of the most valuable lessons is simply don't fight the market - if it isn't acting "right", just get out and re-evaluate - Try to never (I still do sometimes) get caught saying, "It's GOT to turn around and go up" (nooo, it doesn't).
As I alluded to in an earlier post, Kostas alerted me to the wisdom of watching for pin bars well off the moving averages on the 5-min chart - sometimes those are just absolute gifts, especially when they line up well with potential support/resistance levels on higher time frames. If you can catch the 5-min turn on what will eventually prove to be a 4-hour, or even daily, turn, you can make a lot of money very easily.
Writer, currency trader, madman
  • #10,070
  • Nov 29, 2013 2:25pm Nov 29, 2013 2:25pm
Quoting jbmaverick
So, are you a double-digit millionaire yet?
No....
  • #10,071
  • Nov 29, 2013 2:29pm Nov 29, 2013 2:29pm
Quoting jbmaverick
{quote} On higher time frames, I watch the Hull Style ADX on both the one-hour and 4-hour charts, taking into consideration daily pivot points, support/resistance lines,, etc.
I don't usually like to stray the discussion from the pure CHOROS, but you got my curiosity going. If you have time, feel free to give us an example of how you use it.
Note to newbies: This will ONLY be a short discussion for 1-2 posts just for my curiosity. After a few thousand successfull trades, I am still to find an indicator (other than the MAs) that gives me an improvement in my results.
  • #10,072
  • Nov 30, 2013 3:01am Nov 30, 2013 3:01am
a we're adding manuals, here are 1m manuals
Attached File(s)
File Type: pdf The Simple Dance Part One.pdf   1.3 MB | 710 downloads
File Type: pdf The Simple Dance Part Two.pdf   1.7 MB | 812 downloads
On my way to financial independence - if others can do it - I can do it
  • #10,073
  • Nov 30, 2013 3:21am Nov 30, 2013 3:21am
Quoting kostas1
{quote} I don't usually like to stray the discussion from the pure CHOROS, but you got my curiosity going. If you have time, feel free to give us an example of how you use it. Note to newbies: This will ONLY be a short discussion for 1-2 posts just for my curiosity. After a few thousand successfull trades, I am still to find an indicator (other than the MAs) that gives me an improvement in my results.
I really apreciate to see a new post on a higher level of Choros .
I miss more of that kind how the senior dancers trade!
... please post more here , specially with charts.
Risiko birgt immer auch die Chance.
  • #10,074
  • Nov 30, 2013 7:56am Nov 30, 2013 7:56am
the Made a google search, have been able to find only hull-style ADX which shows arrows on charts, not the traditional-style hull ADX, like in the above charts. Has anyone had better luck? Thanks
  • #10,075
  • Nov 30, 2013 12:34pm Nov 30, 2013 12:34pm
Quoting .Hawk.
i have attached my holy bible . . i hope people, specially the ones new to the dance , WILL worship it . . . . . . . . . . . . . . . . like i do . . every single day of my life !!! {image}
Is the manual attached the most recent/updated manual revised by Clay? (I understand there are a couple at least - one is something like 108 pages long, another 86 pages, etc).
  • #10,076
  • Nov 30, 2013 12:36pm Nov 30, 2013 12:36pm
Quoting jbmaverick
{quote} Kostas - I've attached a 4-hour gbp/usd and eur/aud chart. The arrows go with the moving averages, not the Hull ADX, so don't watch them except for comparison. Check the 26th on gbp - the Hull ADX gives a crossover signal very near the bottom, and several candles ahead of when the moving averages cross over. On the Eur/Aud chart, look back around Aug. 28, when you get a beautiful sell signal - again, well ahead of moving average crossover, that you could have ridden straight down for about 600 pips. It's best in situations where the market...
Hi JB. Long time! Hope all is well!
Interesting approach.
What MAs are the crossover arrows based on?
Swedish steel!
  • #10,077
  • Nov 30, 2013 12:51pm Nov 30, 2013 12:51pm
hi midnightrun

this is probably my last post in this thread.
i believe the dance manual attached is the latest & don't go on the number of pages but verify with a senior dancer if the content is latest.

thanks & all the best !

Quoting MidnightRun
{quote} Is the manual attached the most recent/updated manual revised by Clay? (I understand there are a couple at least - one is something like 108 pages long, another 86 pages, etc).
  • #10,078
  • Nov 30, 2013 12:51pm Nov 30, 2013 12:51pm
Quoting MidnightRun
{quote} Is the manual attached the most recent/updated manual revised by Clay? (I understand there are a couple at least - one is something like 108 pages long, another 86 pages, etc).
not sure, I think this one is last
Attached File(s)
File Type: pdf The Simple Dance.pdf   3.2 MB | 1,208 downloads
On my way to financial independence - if others can do it - I can do it
  • #10,079
  • Nov 30, 2013 12:52pm Nov 30, 2013 12:52pm
Quoting .Hawk.
hi midnightrun this is probably my last post in this thread. i believe the dance manual attached is the latest & don't go on the number of pages but verify with a senior dancer if the content is latest. thanks & all the best ! {quote}
good luck -whatever the reason you leave us - all the best
On my way to financial independence - if others can do it - I can do it
  • #10,080
  • Nov 30, 2013 3:39pm Nov 30, 2013 3:39pm
jbmaverick, can you please tell me the name of the indicator that paints the red and blue dots on your chart and the settings you are using for it? Also, can you please tell me what moving averages are you using?

I've been searching for a long term strategy to pair with the Dance and yours looks pretty good
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