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CHOROS System

  • #10,921
  • Jun 24, 2014 4:58am Jun 24, 2014 4:58am
Quoting TheLegendary
Hello guys! I´m new to this thread and this is my first post here. GBPUSD m15 touch trade. touch trade of the 10. very steep angle, two-bars-rule, S1, RN and strong resistance level. SL 10 Pips above the entry. TP 1.6978 (23 pips) Andy {image}
I took the same !
15 min cable chart .
..first touch .. steep angle .... Daily S1 + round number ,
Edit .. SL to BE
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdcm15.png 24.6..png Size: 28 KB
Risiko birgt immer auch die Chance.
  • #10,922
  • Jun 24, 2014 5:02am Jun 24, 2014 5:02am
Quoting kostas1
{quote} I was also watching this but I have the following problems with it: 1. We may have bounced from H1 200 2. We may have bounced from H4 50 and Daily 10 It the above is true it could explode upwards. Since you have entered the trade if it gives you 10-20 pips you may want to take your profit or watch it very closely. I have seen this case before and one time it worked for 20 pips and then went up. In another similar case it worked as expected going down for 50-60 pips.
Thank you, kostas!
  • #10,923
  • Jun 24, 2014 7:39am Jun 24, 2014 7:39am
Quoting kostas1
{quote} I was also watching this but I have the following problems with it: 1. We may have bounced from H1 200 2. We may have bounced from H4 50 and Daily 10 It the above is true it could explode upwards. Since you have entered the trade if it gives you 10-20 pips you may want to take your profit or watch it very closely. I have seen this case before and one time it worked for 20 pips and then went up. In another similar case it worked as expected going down for 50-60 pips.

Kostas,
that sounds to me like you would not consider shorting on the touch of the H1 EMA10 (which right now lines up more or less with M15 35/50) because you await a stronger upwards move then?
  • #10,924
  • Jun 24, 2014 7:51am Jun 24, 2014 7:51am
Quoting ihezzz
{quote} Kostas, that sounds to me like you would not consider shorting on the touch of the H1 EMA10 (which right now lines up more or less with M15 35/50) because you await a stronger upwards move then?
Η1 10 already doesn't obey 2-bar rule.
But don't get me wrong here, the message I am trying to give is to always keep an eye on the higher TF confluences which could give violent reactions. So if you are trading against higher TF, you should be more careful and take profits quicker.
  • #10,925
  • Jun 24, 2014 7:52am Jun 24, 2014 7:52am
Quoting kostas1
{quote} Η1 10 already doesn't obey 2-bar rule. But don't get me wrong here, the message I am trying to give is to always keep an eye on the higher TF confluences which could give violent reactions. So if you are trading against higher TF, you should be more careful and take profits quicker.
Alright, got your point. Thanks!
  • #10,926
  • Jun 25, 2014 7:50am Jun 25, 2014 7:50am
First trade today .. testing higher Tf´s .
Confluence of : Cable H1
50 ema , near DP , WP and just ten pips below the round number .
Very small position , just testing .. , have no more time for m15 during my working day .
SL 15 .. TP ?? 20 may be ..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdch1.png 25.6..png Size: 52 KB
Risiko birgt immer auch die Chance.
  • #10,927
  • Jun 25, 2014 8:06am Jun 25, 2014 8:06am
Quoting Sesamstrasse
First trade today .. testing higher Tf´s . Confluence of : Cable H1 50 ema , near DP , WP and just ten pips below the round number . Very small position , just testing .. , have no more time for m15 during my working day . SL 15 .. TP ?? 20 may be .. {image}
I've played the even higher TF mentioned yesterday. After bouncing from Daily EMA 10, H4 50, Daily S1, RN I entered long at the close of the M15 pinbar (8:15 GMT) and exited at the H4 10 for around 19p. Not a common trade for me but when you see so many high TF points confluencing it's worth a shot. Sometimes it explodes fast, sometimes slower (but still strong) like today....
  • #10,928
  • Jun 25, 2014 1:21pm Jun 25, 2014 1:21pm
Quoting Sesamstrasse
First trade today .. testing higher Tf´s . Confluence of : Cable H1 50 ema , near DP , WP and just ten pips below the round number . Very small position , just testing .. , have no more time for m15 during my working day . SL 15 .. TP ?? 20 may be .. {image}
5H for possible 20 pips hmmh .. got stopped + 15 .. , had a drawdown of 12 pips ( SL15 ) ..
Will test the next couple of weeks if also higher TF´s than only M15 suits to me ... not sure about it ..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdch1.pngtzjtzj.png Size: 52 KB
Risiko birgt immer auch die Chance.
  • #10,929
  • Jun 25, 2014 1:24pm Jun 25, 2014 1:24pm
Quoting kostas1
{quote} I've played the even higher TF mentioned yesterday. After bouncing from Daily EMA 10, H4 50, Daily S1, RN I entered long at the close of the M15 pinbar (8:15 GMT) and exited at the H4 10 for around 19p. Not a common trade for me but when you see so many high TF points confluencing it's worth a shot. Sometimes it explodes fast, sometimes slower (but still strong) like today....
Hey Kostas , what SL´s can you recomment in let´s say Cable or EJ H4 ??
Of course .. next round number .. Pivot or so .. .. , but is around 20 pips okay ??
Higher tf´s = larger Stop !
Normally I trade only M15 so I ask .
Guido
Risiko birgt immer auch die Chance.
  • #10,930
  • Jun 25, 2014 1:57pm Jun 25, 2014 1:57pm
Quoting Sesamstrasse
{quote} Hey Kostas , what SL´s can you recomment in let´s say Cable or EJ H4 ?? Of course .. next round number .. Pivot or so .. .. , but is around 20 pips okay ?? Higher tf´s = larger Stop ! Normally I trade only M15 so I ask . Guido
I am not EJ expert but for H4 GU, 20-25 pips should be considered. Obviously, playing H4 you should target more than 10-15p which is usually our target for M15.
  • #10,931
  • Edited 3:13am Jun 26, 2014 2:47am | Edited 3:13am
Good morning guys,

I just entered GBPUSD short at 1.69839.
Confluence by MA's 10, 35, 50 but only the 10 was steep, I hope its okay.
SL 7 pips, Target 14 pips.

EDIT: Stopped out -7

Question to the experienced ones: Was my fault to trade against the still slightly upward pointing longer moving averages?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-alpari-uk-ltd-temp-file-screenshot-6102-png.png Size: 9 KB
  • #10,932
  • Jun 26, 2014 3:46am Jun 26, 2014 3:46am
Quoting ihezzz
Good morning guys, I just entered GBPUSD short at 1.69839. Confluence by MA's 10, 35, 50 but only the 10 was steep, I hope its okay. SL 7 pips, Target 14 pips. EDIT: Stopped out -7 Question to the experienced ones: Was my fault to trade against the still slightly upward pointing longer moving averages? {image}

Good morning!
Flat Ma´s !
.. look for a trend before you look for a retrace ...
Risiko birgt immer auch die Chance.
  • #10,933
  • Jun 26, 2014 3:49am Jun 26, 2014 3:49am
Quoting Sesamstrasse
{quote} Good morning! Flat Ma´s ! .. look for a trend before you look for a retrace ...
Thanks Sesam,

I dont know why, when the Ema10 dives through the other ones I always get tempted to enter (even when the ma's are flat like today) on a retrace,
I tend to do that in the simulator as well, I have to learn to resist that.
  • #10,934
  • Jun 26, 2014 4:55am Jun 26, 2014 4:55am
Hello guys! I´m a little bit too late on pc today, so didn´t take these trades. gbp/jpy m15 and gbp/usd m15. perfect toucht trades of the 10. Anybody here who took these?

Andy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 49 KB
Click to Enlarge Name: gbpusdm15.png Size: 45 KB
  • #10,935
  • Jun 26, 2014 4:58am Jun 26, 2014 4:58am
Quoting TheLegendary
Hello guys! I´m a little bit too late on pc today, so didn´t take these trades. gbp/jpy m15 and gbp/usd m15. perfect toucht trades of the 10. Anybody here who took these? Andy {image} {image}
At least for the GU trade I can reliefe you from beeing angry. I was looking at it
and it didnt touch "live", so if you really wait for the actual touch to happen and dont enter before that
you would have missed the move anyway

EDIT: This was by the way on of the cases where I think the 2-bar-rule is somewhat problematic... Because really strictly following it
one would not have been "allowed" to enter, even if the touch would have happened "live".
  • #10,936
  • Jun 26, 2014 5:06am Jun 26, 2014 5:06am
Quoting ihezzz
{quote} At least for the GU trade I can reliefe you from beeing angry. I was looking at it and it didnt touch "live", so if you really wait for the actual touch to happen and dont enter before that you would have missed the move anyway EDIT: This was by the way on of the cases where I think the 2-bar-rule is somewhat problematic... Because really strictly following it one would not have been "allowed" to enter, even if the touch would have happened "live".
Thanks for your reply! My pending order would be on D1 (gbp/usd) and on RN (gbp/jpy). So I think I would catch it.
  • #10,937
  • Jun 26, 2014 5:12am Jun 26, 2014 5:12am
[quote=ihezzz;7563239]{quote} At least for the GU trade I can reliefe you from beeing angry. I was looking at it and it didnt touch "live", so if you really wait for

I miss around 50 % in this case .. But better let the market run without you than jumping on bad entries .
Risiko birgt immer auch die Chance.
  • #10,938
  • Edited 8:29am Jun 26, 2014 8:13am | Edited 8:29am
Ok, second and last try for today.

Entered long at the touch of H1 EMA10 (red MA) and round number 1.7010.
SL below 35/50, for TP Ill watch the next round number.
Sorry for the gaudy chart, my round number indicator cant draw grey lines, dont know why.

EDIT: Stopped out -8
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-alpari-uk-ltd-temp-file-screenshot-28127-png.png Size: 9 KB
  • #10,939
  • Jun 26, 2014 8:27am Jun 26, 2014 8:27am
Quoting ihezzz
Ok, second and last try for today. Entered long at the touch of H1 EMA10 (red MA) and round number 1.7010. SL below 35/50, for TP Ill watch the next round number. Sorry for the gaudy chart, my round number indicator cant draw grey lines, dont know why. {image}
Took the same trade.
SL just below RD 1.7000
TP just below RD 1.7030
Let's see...
..., but what WE make.
  • #10,940
  • Jun 26, 2014 8:37am Jun 26, 2014 8:37am
Quoting kdao
{quote} Took the same trade. SL just below RD 1.7000 TP just below RD 1.7030 Let's see...
Whatever this trade will evolve,
again one thought came up to me:
When there are three MAs giving confluence in the same area, be patient and WAIT to enter
at the one which offers you best price.
Here I should have entered at 50, with the same SL size I could have put the SL to a more safe place (below 1.7000).
But instead I panicked because I overheard the alarm which my platform gave when H1 MA10 was hit,
saw a little retrace and entered late even for the H1 10MA.
In short: Bad Timing, which put me in a worse position than it should have been I think.
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