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CHOROS System

  • #10,721
  • Edited 3:46am May 12, 2014 3:16am | Edited 3:46am
Third trade

EURUSD buy, SL7/TP23
constrainment of 10EMA


Attached Image (click to enlarge)
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EDIT
decided to quit this trade at -2,5 pips

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  • #10,722
  • May 12, 2014 5:34am May 12, 2014 5:34am
Disappointing missed opportunity :

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Reason : At the precise time at which the candle was forming, the past two bearish candle made the recent 10MA segment point down and thus appeared lower on the chart which, at that moment, did not look like a touch yet.

Any coments / advices on that would be appreciated.
  • #10,723
  • May 12, 2014 8:04am May 12, 2014 8:04am
Quoting Chopy
Disappointing missed opportunity . Any coments / advices on that would be appreciated.
aah only one good advice :

Use the simulator a lot .
Risiko birgt immer auch die Chance.
  • #10,724
  • May 12, 2014 8:18am May 12, 2014 8:18am
Quoting Sesamstrasse
{quote} aah only one good advice : Use the simulator a lot .
Well, that surely is a good advice that I am certainly following but it never hurt to remind everybody to do so !


The kind of comments I was expecting were more alongs the lines of either :

-I did the right choice by waiting a proper touch, another trade will come with a better setup

or

-I should have assumed that the MA would have "rectify" itself up and enter anyway

or something else I might have missed / not consider ?

But in any cases, my simulator usage is nowhere near being complete !
  • #10,725
  • May 12, 2014 8:42am May 12, 2014 8:42am
moving average is the one i like and always interest me to learn it more and more. this thread is about it, so i will have my attention on it.
::learning::
i am a beginner, so one pair is enough
  • #10,726
  • May 12, 2014 10:17am May 12, 2014 10:17am
Quoting Chopy
{quote} Well, that surely is a good advice that I am certainly following but it never hurt to remind everybody to do so ! The kind of comments I was expecting were more alongs the lines of either : -I did the right choice by waiting a proper touch, another trade will come with a better setup or -I should have assumed that the MA would have "rectify" itself up and enter anyway or something else I might have missed / not consider ? But in any cases, my simulator usage is nowhere near being complete !

All of us miss many trades by the same reason !!
In this thread someone says you need 10.000 screenhours to become a successful trader..
..
I just know : Trading the first touches 10 ema in M15 give me more green pips than red ..
... and I have much more than 10k screenhours........., and I´m fare away to understand the market.
Sometimes it looks like the market is a girl !
( she moves sideways , makes big moves and when she moves not that way she says , it costs a lot of money)

Being picky brings better results .
But this f...cking patience is the key for green pips .
Hope that helps you to find your way .
Guido
Risiko birgt immer auch die Chance.
  • #10,727
  • May 12, 2014 11:41am May 12, 2014 11:41am
Quoting Sesamstrasse
{quote} Sometimes it looks like the market is a girl ! ( she moves sideways , makes big moves and when she moves not that way she says , it costs a lot of money)
More like a bitch; I mean think about it:

you can try to reason with her, she will do what she wants;
you can try yelling at her, no result;
you can try breaking up with her, she won't care; and most of the times we will come back for more : ))
aand...if you don't do what she wants it will only cost you money

...but...we still love this bitch, she's one of a kind : ))
  • #10,728
  • May 13, 2014 9:57am May 13, 2014 9:57am
USDCHF +13
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  • #10,729
  • May 13, 2014 11:50am May 13, 2014 11:50am
Hi you all!
I would like to introduce myself. My name is Viii and here are my trades from today.
I'm here because of my problem with my anger and greed I guess

1. Scoop - everything was good I guess.
2. And here we got my anger, which I'm trying to get rid of. There were 3 trades, 2 sells in which I was trying to see touch, but there wasn't any, and second one was CT because I've noticed big candle.. without any sense.

Anyone would like to comment?

Have a nice evening.
Attached Images
  • #10,730
  • May 13, 2014 12:13pm May 13, 2014 12:13pm
Quoting viii
Hi you all! I would like to introduce myself. My name is Viii and here are my trades from today. I'm here because of my problem with my anger and greed I guess 1. Scoop - everything was good I guess. 2. And here we got my anger, which I'm trying to get rid of. There were 3 trades, 2 sells in which I was trying to see touch, but there wasn't any, and second one was CT because I've noticed big candle.. without any sense. Anyone would like to comment? Have a nice evening. {image} {image}
You did not mention currency pair, Timeframe etc.. post clear and big enough charts plz.
  • #10,731
  • May 13, 2014 12:28pm May 13, 2014 12:28pm
Quoting viii
Hi you all! I would like to introduce myself. My name is Viii and here are my trades from today. I'm here because of my problem with my anger and greed I guess 1. Scoop - everything was good I guess. 2. And here we got my anger, which I'm trying to get rid of. There were 3 trades, 2 sells in which I was trying to see touch, but there wasn't any, and second one was CT because I've noticed big candle.. without any sense. Anyone would like to comment? Have a nice evening. {image} {image}
Welcome to the thread!

First of all please post full screen shots of the trade so everyone can see the pair you traded and get a good idea of how the price looks like. I can only guess that is EURUSD you traded, or EURJPY and your trades were executed when news were released (bad trades!!!)...anyway...post complete screenshots of your active chart.

If you are here for anger and greed management you are off-topic, yes the Dance manual does have a chapter where psychology of traders is discussed but in this thread we mainly post trades that we take following the Dance strategy and try to help each other get better at taking trades using the Dance.

Looking at what you posted I don't see any resemblance to a Dance trade (because if there were no news dancers would buy where you sold), so my advice is: read the manual (really read it), use the simulator (I know Sesam would/will tell you this ) and post complete screen shots.

About your anger/greed thing...we've all been there...but we found a way to manage it. The thing is that this part of trading is very very discretionary because it is related to ones personality and we are all different. The only thing I can say is what everyone else would say: Don't let feelings mess up your trading...but how you do that, how you reach that point, it's up to you. You can and should read materials on this matter, because there are a lot of people who studied this subject...my recommendation is Alexander Elder - Trading for a Living (1st chapter), Mark Douglas - The Disciplined Trader.

Keep in mind that how you deal with your anger / greed it up to you...the best way (again in my opinion) is to rationalize it, stay focused on the trades and don't let it affect your trading. Make decisions driven by reason and logic NOT by feelings!

Hope this helps!
  • #10,732
  • May 13, 2014 12:34pm May 13, 2014 12:34pm
One last thing: if you are trading real money...stop it!

Get your strategy in order, get your mindset in order and than trade demo account. After you have good results on your demo account and you feel up to trading real money...start trading real money
  • #10,733
  • May 13, 2014 12:48pm May 13, 2014 12:48pm
The left chart is probably EURUSD 15min today at noon (CEST, just before the news).
Being a noob myself, I went short when the 15 min bar closed at 12 o'clock, because the last three highs went lower and lower and all three MAs had a decent angle downward. I must have been thinking something/too much about PA ... well, the news saved me, I guess.

As this is my first post: "Thank you" to Kostas, Clay and all the others, who contributed almost 600 pages to this newbie-friendly system.
  • #10,734
  • May 14, 2014 2:32am May 14, 2014 2:32am
GU 10 EMA touch; +10

Attached Image (click to enlarge)
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This trade looks a bit sketchy but it went well.
I treated the move marked with the dot as a bounce from 35.50 (even though it didn't touched neither the 35 or 50) and in my experience 10 EMA touches that come right after this kind of bounce go well.

I took the profit early because my entry was not perfect and in about one hour there will be news on GBP.
  • #10,735
  • Edited 4:47am May 14, 2014 2:55am | Edited 4:47am
Quoting MisterC
GU 10 EMA touch; +10 {image} This trade looks a bit sketchy but it went well. I treated the move marked with the dot as a bounce from 35.50 (even though it didn't touched neither the 35 or 50) and in my experience 10 EMA touches that come right after this kind of bounce go well. I took the profit early because my entry was not perfect and in about one hour there will be news on GBP.
I am still in this one. My SL is below the DP and I have decided to risk this one untill at least up to WP or RN for target at the news. Most probably, price will spike take my SL and then run higher, but it could also run directly to WP, we will find out shortly....
EDIT:
  • #10,736
  • May 14, 2014 3:04am May 14, 2014 3:04am
Quoting kostas1
{quote} I am still in this one. My SL is below the DP and I have decided to risk this one untill at least up to WP or RN for target at the news. Most probably, price will spike take my SL and then run higher, but it could also run directly to WP, we will find out shortly....
If there will be a good deviation in unemployment I think it will go without spikes...I would be more worried about spikes on the inflation report rather than the unemployment number.
  • #10,737
  • May 14, 2014 5:11am May 14, 2014 5:11am
Quoting autobahn
"Thank you" to Kostas, Clay and all the others, who contributed almost 600 pages to this newbie-friendly system.
... Cooler nick !
Risiko birgt immer auch die Chance.
  • #10,738
  • May 14, 2014 5:40am May 14, 2014 5:40am
Failed 10 EMA touch; closed the trade at -1...

Attached Image (click to enlarge)
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  • #10,739
  • May 14, 2014 6:13am May 14, 2014 6:13am
Quoting MisterC
Failed 10 EMA touch; closed the trade at -1... {image}

Hmm well, that's interesting, even though I am only on a demo account, I tried to take this trade too and it is still open, would you mind a little explanation about why you did close it ? Were you expecting a more "instant" move ? At the moment, the 10EMA still seems to provide a little bit of resistance on my chart.

Thank you
  • #10,740
  • May 14, 2014 6:20am May 14, 2014 6:20am
Quoting Chopy
{quote} Hmm well, that's interesting, even though I am only on a demo account, I tried to take this trade too and it is still open, would you mind a little explanation about why you did close it ? Were you expecting a more "instant" move ? At the moment, the 10EMA still seems to provide a little bit of resistance on my chart. Thank you
The 2 bar rule was not applying any more. Now the trade looks like a constrainment trade so it may still go lower; keep in mind that in about 1h there are news
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