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CHOROS System

  • #10,981
  • Edited 9:48pm Jul 1, 2014 9:04pm | Edited 9:48pm
AUDUSD h1 almost touched RED and confluence 0.94600
Attached Image


update - not looking very healthy
Attached Image


update - stop hit -10 pips. Most it went was +6
Everything you can imagine, is real - Pablo Picasso
  • #10,982
  • Jul 2, 2014 12:53am Jul 2, 2014 12:53am
Quoting Direwolf
AUDUSD h1 almost touched RED and confluence 0.94600 {image} update - not looking very healthy {image} update - stop hit -10 pips. Most it went was +6
Comments on your chart....
Attached Image (click to enlarge)
Click to Enlarge Name: au1.jpg Size: 38 KB
  • #10,983
  • Jul 2, 2014 2:28am Jul 2, 2014 2:28am
Hi everyone,

my first trade today at London open. I am not sure if this was too early. It seemed like a constrainment at the round number and the 35/50.
Tought I missed that one before the London open. So put an entry order at the 10 EMA and observed price on m5. Trying the fine tuning
on m5.
What do you guys think?

This is the screenshot of the 5m. It looks like 10 EMA scooped down. But I would not consider this as dangerous for the 15 tf.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-1 5m.jpg Size: 358 KB


This is the 15m tf. Went two bars back to hit the limit order. But it made all the way to touch the 35/50 and round nr.
If it closed below I would have exited the trade. But it seems like there is solid support.
I did move my stop loss now below the Hammer/Doji.
My initial stop loss was about 7 pips. Now it is about double

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-1 15m.jpg Size: 350 KB
Never stop to learn
  • #10,984
  • Jul 2, 2014 3:01am Jul 2, 2014 3:01am
Quoting Whatsmyname
Hi everyone, my first trade today at London open. I am not sure if this was too early. It seemed like a constrainment at the round number and the 35/50. Tought I missed that one before the London open. So put an entry order at the 10 EMA and observed price on m5. Trying the fine tuning on m5. What do you guys think? This is the screenshot of the 5m. It looks like 10 EMA scooped down. But I would not consider this as dangerous for the 15 tf. {image} This is the 15m tf. Went two bars back to hit the limit order. But it made all the way to touch the...

Flat maīs ..
Dancing is only when the music plays .
In that case look in higher tfīs .. for a bigger picture .
I canīt find a valid entry in Cable h1 .. h4 .. daily ..

Guido
Risiko birgt immer auch die Chance.
  • #10,985
  • Jul 2, 2014 3:23am Jul 2, 2014 3:23am
I don't understand.

H1 has rising 35/50 MA.
That won't qualify for an entry at the 10 EMA H1?
Price keeps penetrating the 10 EMA with closes above and below. Would that neglect a constrainment trade?
But there is no move away from the 10 EMA.

The fact that the 35/50 have spread is already a warning. But both point upward with 20°.
Never stop to learn
  • #10,986
  • Edited 8:08am Jul 2, 2014 4:31am | Edited 8:08am
Hello guys, this is my first trade today:
eur/usd m15
touch of the 10
two-bars-rule
first touch
SL 10 pips
TP next RN
EDIT: TP hit +14 pips

Andy
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 37 KB
  • #10,987
  • Jul 2, 2014 6:06am Jul 2, 2014 6:06am
Nice catch, Andy.
The 10 EMA was touched before.
Wouldn't that make this touch a bit more risky?

Cheers,
Never stop to learn
  • #10,988
  • Jul 2, 2014 6:35am Jul 2, 2014 6:35am
Hi guys,

just a follow up on my first trade. This one was and still is a straining one.
I prefer to see price just move my way. But who doesn't

Once price did burst through the last high I moved my stop to BE+ a tiny bit.
Was thinking of taking profit at the lose of the same candle or somewhere within the upper shadow of the next candle as it seemed like to be a strong resistance confirmed by the pivot point there.
Because I moved my stop too close yesterday and the market moved without me I did not close the trade today and remained with my stop at BE.
I was having an eye on H1 and D1 when I decided to stay on BE.
I made the mistake of letting my emotions guide me. If this was a live trade, I would have closed half of the position at +15 and the second half just where I described before (somewhere in the upper shadow).

Btw, I did modify my chart screen a bit. Was taking Leemonk and Kostas as reference.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-1 15m TS1.jpg Size: 333 KB


On the 5m tf price seems to respect pa. So I did move my stop to just below the 10 EMA
Now I am BE +3
Never stop to learn
  • #10,989
  • Edited 7:10am Jul 2, 2014 7:05am | Edited 7:10am
I did take another trade just now on E/J.

This one is a counter trend. I took this on a bounce of a s/r confluence with 50 EMA (m5 tf).
I used a tight stop loss of about 5pips.

What do you guys think?

p.s. I did modify my chart again

p.p.s. I did get stopped out

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 2.7. -1.jpg Size: 396 KB
Never stop to learn
  • #10,990
  • Jul 2, 2014 7:05am Jul 2, 2014 7:05am
Quoting Whatsmyname
Hi guys, just a follow up on my first trade. This one was and still is a straining one. I prefer to see price just move my way. But who doesn't Once price did burst through the last high I moved my stop to BE+ a tiny bit. Was thinking of taking profit at the lose of the same candle or somewhere within the upper shadow of the next candle as it seemed like to be a strong resistance confirmed by the pivot point there. Because I moved my stop too close yesterday and the market moved without me I did not close the trade today and remained with my...
With news coming I would take my +15p and run. Usually news create noise and they take the stops out before choosing direction.
  • #10,991
  • Jul 2, 2014 7:22am Jul 2, 2014 7:22am
Quoting Whatsmyname
I don't understand. H1 has rising 35/50 MA. That won't qualify for an entry at the 10 EMA H1? Price keeps penetrating the 10 EMA with closes above and below. Would that neglect a constrainment trade? But there is no move away from the 10 EMA. The fact that the 35/50 have spread is already a warning. But both point upward with 20°.

M15 flat .. H1 , no touch of the 35 sma yet .. -- no valid signal
Risiko birgt immer auch die Chance.
  • #10,992
  • Jul 2, 2014 7:25am Jul 2, 2014 7:25am
I expect a rush to the 50 Ema .. cable H1
... the touch 35 Sma is a possible entry , reason , why I didnīt take it .. too close to the news .. !
I earliest take the touch if itīs 30 min after the news.
May be Iīll cancel my pending if it comes near it too quickly!!!!
Attached Image (click to enlarge)
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Risiko birgt immer auch die Chance.
  • #10,993
  • Jul 2, 2014 7:55am Jul 2, 2014 7:55am
Quoting kostas1
{quote} With news coming I would take my +15p and run. Usually news create noise and they take the stops out before choosing direction.
Yes true. I did look at the Calendar. Must have slipped my eye.

I am out now with the sudden move down. But found an entry on the bounce of the 35 SMA H1.
I did enter using the 5m tf. It seems like pa on m5 shows support which might be good for a couple pips.

What news are you and Sesamstraße talking about? I am looking at the calendar and there is no important news for today after this hour.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-2 5m pa.jpg Size: 333 KB
Never stop to learn
  • #10,994
  • Jul 2, 2014 9:25am Jul 2, 2014 9:25am
Hi folks,

today I have a psychological question:
How did you keep yourself on the way of practicing,
how did you manage not to give up?

After not getting it right on the simulator even after weeks of more or less constant practicing
I feel how I get angry and some voices in my head want me to quit.
But that would mean hopping to another strategy and probably that cycle would repeat itself again and again.

Do you guys who made it to beeing succesfull with this strategy have any good hints how to
keep faith and not quit?
  • #10,995
  • Jul 2, 2014 9:27am Jul 2, 2014 9:27am
Continuation of the above trade. I did move my stop to BE (+a tiny bit -less than 1Pip)

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-2 TS1 less 1pip.jpg Size: 329 KB


Eventually moved my stop loss again to lock in more pips. BE + litle less than 6 Pips

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-2 TS2 less 6pip.jpg Size: 332 KB


Now I see price retracing back to 35/50 also in a confluence with the 10 EMA H1. Round Number in close proximity (if that still counts).
I was thinking of scaling. Marked in on the chart. Would that be a good idea, considering I am already in positive pips?

Attached Image (click to enlarge)
Click to Enlarge Name: GU 2.7.-2 5m add on.jpg Size: 325 KB


Cheers,
Never stop to learn
  • #10,996
  • Jul 2, 2014 9:42am Jul 2, 2014 9:42am
Quoting ihezzz
Hi folks, today I have a psychological question: How did you keep yourself on the way of practicing, how did you manage not to give up? After not getting it right on the simulator even after weeks of more or less constant practicing I feel how I get angry and some voices in my head want me to quit. But that would mean hopping to another strategy and probably that cycle would repeat itself again and again. Do you guys who made it to beeing succesfull with this strategy have any good hints how to keep faith and not quit?
Hi jhezzz, your psychological question may not address me as I am still bloody green behind my ears.
Personally, I hate giving up. So it is not an option for me. I still practice on the simulator. And to be honest: I am not profitable on the simulator all the time. But it does train my eyes to see the signals.
The issue with the simulator is, it is way to fast to catch the good signals on time and ride it, even for a couple of pips. This is the challenge. The simulator is way more difficult.
But once you see the signals on the simulator, you'll see the signals on live charts. Stick to Demo as I am doing it.
Once you see the signals on live charts, you need to practice to filter weak signals.

Coming back to your initial question of how not to give up. Just as Clay stated in the original thread. You only fail if you give up!

Try to concentrate only on one signal of your preference on the simulator and try to catch that one on time. For me it is the 35/50 touch trades. You might need to lower the speed when it is aproaching your entry spot.

Cheers,
Never stop to learn
  • #10,997
  • Jul 2, 2014 9:54am Jul 2, 2014 9:54am
Quoting ihezzz
Hi folks, today I have a psychological question: How did you keep yourself on the way of practicing, how did you manage not to give up? After not getting it right on the simulator even after weeks of more or less constant practicing I feel how I get angry and some voices in my head want me to quit. But that would mean hopping to another strategy and probably that cycle would repeat itself again and again. Do you guys who made it to beeing succesfull with this strategy have any good hints how to keep faith and not quit?
May be that can help you :
Start the simulator .... Cable M15 .. put fastest level ( only watching .. itīs much too fast for trading )
.. and look how the price is dancing with the lines ..
If you can see it -- and you can say; Hey .. daamn .. that was a good entry many times .... then you can start using the simulator for trading .
I can recomment SL 10 TP 10 .. for cable M15 simulator .
Itīs not a challenge .. itīs only how to produce more green pips than red .
And to be honest , the best " first touches" happen while european daylight .. from morning to late afternoon ..
If you can see this as " first steps " .. you will know after a time .. damn .. it can be profitable .
Guido
Risiko birgt immer auch die Chance.
  • #10,998
  • Jul 2, 2014 9:56am Jul 2, 2014 9:56am
Quoting Whatsmyname
{quote} Hi jhezzz, your psychological question may not address me as I am still bloody green behind my ears. Personally, I hate giving up. So it is not an option for me. I still practice on the simulator. And to be honest: I am not profitable on the simulator all the time. But it does train my eyes to see the signals. The issue with the simulator is, it is way to fast to catch the good signals on time and ride it, even for a couple of pips. This is the challenge. The simulator is way more difficult. But once you see the signals on the simulator,...
Thanks for you reply Whatsmyname,

I agree with you that the simulator is harder. I keep record of my demo trades and I find it easier to spot and take the trades there and my record is better than on the simulator. But I dont have enough time to regularly trade on demo these days so my plan was to really "master" the simulator and then approaching the real-time-market with super-confidence...^^
So right now the challenge I put myself into is really to be consistent profitable on the simulator.
But it drives me crazy when I lose and lose and lose while thiking "Dude, the rules aren' THAT complicated, why the hell can't you put the theory into practice?!".
Of course this angry state of mind makes all worse because then I really start to make failures just because I want to force my success.

Your quote from Clay is of course a good one. The best way not to fail is obviously not to give up, but I nontheless struggle with that when I feel like my
progress is much slower than I expected / want it to be. I mean, I remember Sesamstrasse saying he was profitable on the simulator from the first day on.
And now I think "God damn?! How did he do that?! Why are you not capable of doing that?!"

I maybe just should take some days off, because even when I think Im calm maybe unconciously Im still angry and that messes everything up.
  • #10,999
  • Jul 2, 2014 9:59am Jul 2, 2014 9:59am
Quoting Sesamstrasse
{quote} May be that can help you : Start the simulator .... Cable M15 .. put fastest level ( only watching .. itīs much too fast for trading ) .. and look how the price is dancing with the lines .. If you can see it -- and you can say; Hey .. daamn .. that was a good entry many times .... then you can start using the simulator for trading . I can recomment SL 10 TP 10 .. for cable M15 simulator . Itīs not a challenge .. itīs only how to produce more green pips than red . And to be honest , the best " first touches" happen while european daylight...
Thank you Sesamstrasse,

I think to go back to just WATCH the behaviour in the simulator is a good advice. Because it reduces the stress, the "challenge" is gone and I maybe
need to gather some screentime without putting myself under pressure.
  • #11,000
  • Jul 2, 2014 10:28am Jul 2, 2014 10:28am
Quoting ihezzz
{quote} ... I maybe just should take some days off, because even when I think Im calm maybe unconciously Im still angry and that messes everything up.
I know exactly how you feel. It does strain your mind big times and gets frustrating. This adds preassure on alread existing preassure.

Sesamstrasse has a good point. When that happens and you start getting frustrated (which happens a lot of times with me) let the simulator just run and observe what's happening on the screen. It is boring and time consuming. But I do beleive it helps. I am doing the same thing.
Never stop to learn
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