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CHOROS System

  • #10,461
  • Apr 14, 2014 5:23am Apr 14, 2014 5:23am
Hereīs a valid one in UJ M15. Ema 10 touch
I jumped 3 pips late on it , but in the rules .
The best way to trade the touch trades is to take them as close as possible to the MA .
Iīm six pips in profit and my SL is around BE
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpycm15.png 14.4..png Size: 32 KB
Risiko birgt immer auch die Chance.
  • #10,462
  • Apr 14, 2014 5:24am Apr 14, 2014 5:24am
Quoting .Hawk.
back in business {image}
Besides the fact that this trade is not following the rules...try to look at it the other way, what if price is constrained on the upper side of 10 EMA; a move higher would follow...my advice is, close the trade and look for other opportunities.
GU and AU are in a consolidation, a breakout could offer some good retracement trades

anyway...this is only my opinion, don't take it for granted
  • #10,463
  • Apr 14, 2014 5:48am Apr 14, 2014 5:48am
- 9
  • #10,464
  • Edited 6:26am Apr 14, 2014 5:56am | Edited 6:26am
Quoting .Hawk.
- 9
Take the first touches .. your pips are often green then .. not always , but 2 of 3 are green in my livetrading .
Keep dancing , itīs a fantastic system !
Risiko birgt immer auch die Chance.
  • #10,465
  • Apr 14, 2014 7:37am Apr 14, 2014 7:37am
10 EMA touch on GU;

10 EMA and SR act as good resistance, took 9 pips out of it

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 47 KB


Also, AUDJPY had some great opportunities today; sadly I missed them

But as Sesam says..."some days are good, some are bad"...today was just fine
  • #10,466
  • Apr 14, 2014 9:11am Apr 14, 2014 9:11am
Quoting MisterC
10 EMA touch on GU; 10 EMA and SR act as good resistance, took 9 pips out of it {image} Also, AUDJPY had some great opportunities today; sadly I missed them But as Sesam says..."some days are good, some are bad"...today was just fine
I like your fibo indicator , would you please share it ?
Risiko birgt immer auch die Chance.
  • #10,467
  • Apr 14, 2014 9:48am Apr 14, 2014 9:48am
Quoting Sesamstrasse
{quote} I like your fibo indicator , would you please share it ?
If you meant my pivot points indicator, sure, here it is

Attached File(s)
File Type: ex4 FXI Pivots.ex4   25 KB | 341 downloads
  • #10,468
  • Apr 14, 2014 10:09am Apr 14, 2014 10:09am
Quoting MisterC
{quote} If you meant my pivot points indicator, sure, here it is {file}
Yes , exactly .. thank you
Risiko birgt immer auch die Chance.
  • #10,469
  • Apr 14, 2014 10:17am Apr 14, 2014 10:17am
Quoting Sesamstrasse
{quote} Yes , exactly .. thank you
You're welcome
  • #10,470
  • Apr 14, 2014 10:36am Apr 14, 2014 10:36am
Quoting Sesamstrasse
Hereīs a valid one in UJ M15. Ema 10 touch I jumped 3 pips late on it , but in the rules . The best way to trade the touch trades is to take them as close as possible to the MA . Iīm six pips in profit and my SL is around BE {image}
Hello Sesamstrasse, could you explain your entry on this trade "in the rules"? I don't understand because to me it is not the first touch on EMA10. Am i wrong ?Thanks.
  • #10,471
  • Edited 1:16pm Apr 14, 2014 11:09am | Edited 1:16pm
Quoting ctpctp
{quote} Hello Sesamstrasse, could you explain your entry on this trade "in the rules"? I don't understand because to me it is not the first touch on EMA10. Am i wrong ?Thanks.
Yes , of course:
the best entry was the confluence of the daily pivot and the first touch of the Ema 10.
a possible and absolutely good entry was two candles before when the prive missed the 10 Ema with around 1 pip .. ( good entry but didnīt touch exactly )
I jumped 3 pips too late on this trade , but all in the rules ... finally got stopped BE --
If I had taken the entry exactly at the touch , the trade was a profitable trade with 10 pips ( If .. if ..if .. No if ! )
Next time Iīll try to get it exactly at the touch .

When I started trading this style ( Dance / Choros ) I tried often to catch the trade , not important if exactly at the touch , or a little early .
But the SL was fix .. and many times the price ran over my entry , hit my SL and ran to my " TP " .
So I can recommend : take it , when the price really touches !
very often it punches the line and a couple of seconds later it keeps distance to the lines. ( Great time to trigger your SL to BE )

EDIT : the member Arha posted a EA for that case .. I use it often , when I see a trend is forming ..
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpycm15.png 14.4..png Size: 32 KB
Risiko birgt immer auch die Chance.
  • #10,472
  • Apr 14, 2014 12:25pm Apr 14, 2014 12:25pm
Quoting Sesamstrasse
{quote} Yes , of course: the best entry was the confluence of the daily pivot and the first touch of the Ema 10. a possible and absolutely good entry was two candles before when the prive missed the 10 Ema with around 1 pip .. ( good entry but didnīt touch exactly ) I jumped 3 pips too late on this trade , but all in the rules ... finally got stopped BE -- When I started trading this style ( Dance / Choros ) I tried often to catch the trade , not important if exactly at the touch , or a little early . But the SL was fix .. and many times the price...
Thanks. Sorry im' learning this method for some times now but there is still things unclear to me. For example in the USD/JPY trade. I understand the trade you've described( touch of EMA + daily pivot = confluence) but what about the real first touch of the EMA( see arrow on chart)? .Is it a valid trade for you ?. According to the rules, it is the first touch after price were above EMA 35 and 50, isn't it ?
Attached Image
  • #10,473
  • Apr 14, 2014 12:45pm Apr 14, 2014 12:45pm
Quoting ctpctp
{quote} Thanks. Sorry im' learning this method for some times now but there is still things unclear to me. For example in the USD/JPY trade. I understand the trade you've described( touch of EMA + daily pivot = confluence) but what about the real first touch of the EMA( see arrow on chart)? .Is it a valid trade for you ?. According to the rules, it is the first touch after price were above EMA 35 and 50, isn't it ?{image}
No , that one is not good .. , the green candle 3 candles before would be the correct one , BUT :: there was no real trend!!
So we trade retraces in a trend.
If the possible trade ran without us , better donot enter .. wait for the next chance.
Important is to wait until the angle is steep enough .. ( it shows if itīs a strong move a steep angle )
With this angle ( about 45° ) , you can filter wrong entries.
Second is : the move MUST be a minimum of 15 pips .... ( depends on the pair , in EJ Iīll never open a trade with a move less than 20 pips )
To learn quickly this kind of trading , you should use the simulator .
My advice : Put it to the fastest level in M15 GBP/USD .. and watch the forming breakouts , touches .. dances ..
Of course the fastest level is much too quick for a trade , but it gives you a quick view what we are looking for .
Risiko birgt immer auch die Chance.
  • #10,474
  • Apr 14, 2014 4:06pm Apr 14, 2014 4:06pm
Quoting Sesamstrasse
{quote} No , that one is not good .. , the green candle 3 candles before would be the correct one , BUT :: there was no real trend!! So we trade retraces in a trend. If the possible trade ran without us , better donot enter .. wait for the next chance. Important is to wait until the angle is steep enough .. ( it shows if itīs a strong move a steep angle ) With this angle ( about 45° ) , you can filter wrong entries. Second is : the move MUST be a minimum of 15 pips .... ( depends on the pair , in EJ Iīll never open a trade with a move less than...
Another fact to consider is market time. Trade the European session and the overlap of the European with the American session. The moment you marked was before EU session and liquidity was thin!
  • #10,475
  • Apr 15, 2014 2:33am Apr 15, 2014 2:33am
EU constrainment trade, took 9pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 36 KB


Also had a short on AU but I closed with -1.
  • #10,476
  • Apr 15, 2014 2:53am Apr 15, 2014 2:53am
Quoting MisterC
{quote} Another fact to consider is market time. Trade the European session and the overlap of the European with the American session. The moment you marked was before EU session and liquidity was thin!
Nono , The candle , he marked was exactly the 9 oīclock candle here in Frankfurt, FoFO ( frankfurt open fake out )
I never trade before 10 ..
I already payed for this time before ten !
Risiko birgt immer auch die Chance.
  • #10,477
  • Apr 15, 2014 2:58am Apr 15, 2014 2:58am
Quoting MisterC
EU constrainment trade, took 9pips {image} Also had a short on AU but I closed with -1.
Nice one!
I hunted the last minutes EJ and Gu , but the cancle didnīt touch , so I didnīt enter .. ..
Now the market ran its pips in EJ , first touch 10 ema without me ..
Gu looks same
Risiko birgt immer auch die Chance.
  • #10,478
  • Apr 15, 2014 3:02am Apr 15, 2014 3:02am
Quoting Sesamstrasse
{quote} Gu looks same
GU you don't touch now. It is a good touch on M15 10 but we are on RN, WP, H1 200, Daily 10 and important news in 30 min. It could shoot up or crash down. If I were to believe the confluence of Daily 10 bounce, WP, RN then it will probably shoot up, but who knows with GU these days...
  • #10,479
  • Apr 15, 2014 3:03am Apr 15, 2014 3:03am
Quoting Sesamstrasse
{quote} Nice one! I hunted the last minutes EJ and Gu , but the cancle didnīt touch , so I didnīt enter .. .. Now the market ran its pips in EJ , first touch 10 ema without me .. Gu looks same
I was also watching GU, after the move to 1.6680 I was hoping for a two bar retracement to 10 EMA...but it didn't happened; still the day is far from over
  • #10,480
  • Apr 15, 2014 3:08am Apr 15, 2014 3:08am
Quoting Sesamstrasse
{quote} Nono , The candle , he marked was exactly the 9 oīclock candle here in Frankfurt, FoFO ( frankfurt open fake out ) I never trade before 10 .. I already payed for this time before ten !
Here are my market time marks; and the candle he marked is before EU start. The setup I have matches the FF Market time, I usually trade when price is in the gray area (EU), or the overlap area(EU.US), with several exceptions.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym15.png Size: 42 KB
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