CHOROS System | Page 553 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

CHOROS Interactive 2,625 replies

Money management for CHOROS and other strategies 2 replies

I want to pay off my mortgage asap with Choros 181 replies

3-9% a day with CHOROS? 63 replies

Would you trade this system? New system #2. 10 replies

Attachments: CHOROS System
Exit Attachments

CHOROS System

  • #11,041
  • Jul 9, 2014 2:11am Jul 9, 2014 2:11am
Quoting Sesamstrasse
{quote} ... has nothing to do with any kind of dancing .. .. if you mix your trading styles do it .. But please share only valid Choros / dance entries here .
Hi Sesamstraße,
the manual also mentions entries on pa with round numbers and emphasizes on the beauty of its flexibilty.
I had that in my mind when I shared this entry.
I'll remove it today, if that one is gonna cause irritation in this thread.
I am well aware of the original thread rules which will also apply here.

Cheers,
WMN
Never stop to learn
  • #11,042
  • Edited 3:10am Jul 9, 2014 2:56am | Edited 3:10am
Quoting Whatsmyname
{quote} Hi Sesamstraße, the manual also mentions entries on pa with round numbers and emphasizes on the beauty of its flexibilty. I had that in my mind when I shared this entry. I'll remove it today, if that one is gonna cause irritation in this thread. I am well aware of the original thread rules which will also apply here. Cheers, WMN
Can´t find any kind of double top entries against a trend ( counter ) in the manual .
.. I also trade different systems .. but I don´t post them here ..
Risiko birgt immer auch die Chance.
  • #11,043
  • Jul 9, 2014 3:21am Jul 9, 2014 3:21am
There are examples of possible entries based on support resistance (e.g. manual p. 34 "a word about wicks" or
"three trade examples" the first GBP/USD and EUR/JPY) clay shows examples of pure pa / support/resistance trades
one could have taken.
Anyway, don't want to create any arguments or discussions. I just deleted the post.
So this should not be an issue anymore.

The reason of me posting here is, cause I want to learn from you experienced traders.
Hope all is good.


I just got stopped out on my GJ trade.
Market retraced with two/three candles to the 35/50 m15.
M1 seemed to confirm with price being constrained with the 35/50.
So I took the constrainment trade on m1.
I took this trade with an 8 Pip stop loss.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ 9.7. -1 8Pips.jpg Size: 353 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GJ 9.7. -1 stopped out.jpg Size: 335 KB
Never stop to learn
  • #11,044
  • Jul 9, 2014 3:44am Jul 9, 2014 3:44am
Quoting Whatsmyname
There are examples of possible entries based on support resistance (e.g. manual p. 34 "a word about wicks" or "three trade examples" the first GBP/USD and EUR/JPY) clay shows examples of pure pa / support/resistance trades one could have taken. Anyway, don't want to create any arguments or discussions. I just deleted the post. So this should not be an issue anymore. The reason of me posting here is, cause I want to learn from you experienced traders. Hope all is good. I just got stopped out on my GJ trade. Market retraced with two/three candles...
All good buddy .. no problem .. .. and now you get the answer for what you ´re here ..

Look .. Your GY entry was a second " confluence " touch of 50 Ema ( near the 35 Sma .. so I´d count it a s a confluence of both MA´s ).
Next thing is : H1 didn´t confirm ..
And : D1 opened below the 10 Ema ( so no " dead end " on a MA or valid touch ) .
Wasn´t a good entry .
By the way : GY and GCAD are the most volatile pairs I know .
They very often run stops and do not accept the lines very good in M15 .
So do your experience , but I cannot recomment it .
Hope that helps , Guido
Risiko birgt immer auch die Chance.
  • #11,045
  • Jul 9, 2014 3:49am Jul 9, 2014 3:49am
Got stopped out on EJ as well. Stop loss was 6 pips.
There is something I didn't see.

My entry was based on the touch of 10 EMA. I used m1 to fine tune me entry. Waited for
a retrace in the lower shadow.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 9.7. -1 6Pips.jpg Size: 343 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EJ 9.7. -1 stopped out.jpg Size: 337 KB
Never stop to learn
  • #11,046
  • Jul 9, 2014 3:55am Jul 9, 2014 3:55am
Quoting Whatsmyname
Got stopped out on EJ as well. Stop loss was 6 pips. There is something I didn't see. My entry was based on the touch of 10 EMA. I used m1 to fine tune me entry. Waited for a retrace in the lower shadow. {image} {image}
What ´re you doing there ??
So :
M15 is the trend of the moment !
If you want a valid entry , take the first touches!!
Please count how often the price touched the line before you entered ??
Risiko birgt immer auch die Chance.
  • #11,047
  • Jul 9, 2014 4:03am Jul 9, 2014 4:03am
Quoting Sesamstrasse
{quote} All good buddy .. no problem .. .. and now you get the answer for what you ´re here .. Look .. Your GY entry was a second " confluence " touch of 50 Ema ( near the 35 Sma .. so I´d count it a s a confluence of both MA´s ). Next thing is : H1 didn´t confirm .. And : D1 opened below the 10 Ema ( so no " dead end " on a MA or valid touch ) . Wasn´t a good entry . By the way : GY and GCAD are the most volatile pairs I know . They very often run stops and do not accept the lines very good in M15 . So do your experience , but I cannot recomment...
Am glad about that mate.

Thanks for your great analysis.
Am doing my homework and going through your analysis.
Would you elaborate a bit more on H1 not confirming at the point of entry?
I don't want to guess, but the last candle (H1) opened at 35 SMA and closed on 10 EMA.
Never stop to learn
  • #11,048
  • Jul 9, 2014 4:11am Jul 9, 2014 4:11am
Quoting Sesamstrasse
{quote} What ´re you doing there ?? So : M15 is the trend of the moment ! If you want a valid entry , take the first touches!! Please count how often the price touched the line before you entered ??
I guess I am getting too eager again. I see something moving and want to catch it.

Am still trying to figure the shorter tf to fine tune and filter trades.
m5 touched the 35 SMA after a move of 15 pips. m1 seemed to show support so I took it
for a high chance trade.
Never stop to learn
  • #11,049
  • Jul 9, 2014 4:26am Jul 9, 2014 4:26am
Took a constrainment trade on DAX. I took this trade at COB marked on the chart.
If I had waited two more seconds I'd have taken a much better entry with lower risk.
I sense, I am getting eager again and try to catch every possible move.
I was observing the m1 for a good entry.

I opened the trade with a high risk (21 pips).

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 9.7. 1 21Pips.jpg Size: 352 KB


Moved my stop to BE+3. It took a while to get confident to move the stop. I moved the
stop at the time of the current candle.

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 9.7. -1 BE 3pips.jpg Size: 345 KB


I was planning to exit close to the round number. Sadly I missed it. I did exit the trade,
cause I didn't like what the candles show. Am happy to cover back the losses I made with
my previous two trades

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 9.7. -1 close.jpg Size: 331 KB
Never stop to learn
  • #11,050
  • Jul 9, 2014 4:54am Jul 9, 2014 4:54am
Quoting Whatsmyname
Took a constrainment trade on DAX. I took this trade at COB marked on the chart. If I had waited two more seconds I'd have taken a much better entry with lower risk. I sense, I am getting eager again and try to catch every possible move. I was observing the m1 for a good entry. I opened the trade with a high risk (21 pips). {image} Moved my stop to BE+3. It took a while to get confident to move the stop. I moved the stop at the time of the current candle. {image} I was planning to exit close to the round number. Sadly I missed it. I did exit the...
I would suggest to remove the M1 from your screen while you are learning the method. Stick with M15, or M5 if you are taking M5 trades. This will keep you out of many fake moves and keep your eagerness controlled. If later you learn the method well, you can use the M1 to fine-tune your trades, but ONLY take the signals from your main TF.
  • #11,051
  • Jul 9, 2014 4:59am Jul 9, 2014 4:59am
Quoting Whatsmyname
{quote} I guess I am getting too eager again. I see something moving and want to catch it. Am still trying to figure the shorter tf to fine tune and filter trades. m5 touched the 35 SMA after a move of 15 pips. m1 seemed to show support so I took it for a high chance trade.
The one and only valid entry for a 10 Ema touch M15 EJ is marked by my arrow .
I jumped on the 35 sma touch ( stopped -6 ).
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYcM15.png 9.7..png Size: 43 KB
Risiko birgt immer auch die Chance.
  • #11,052
  • Jul 9, 2014 5:30am Jul 9, 2014 5:30am
Quoting kostas1
{quote} I would suggest to remove the M1 from your screen while you are learning the method. Stick with M15, or M5 if you are taking M5 trades. This will keep you out of many fake moves and keep your eagerness controlled. If later you learn the method well, you can use the M1 to fine-tune your trades, but ONLY take the signals from your main TF.
Thanks for your advice Kostas.
I was trying to filter the trades using m1. I don't take signals from m1 or m5.

Sometimes m1 just runs through when m15 touches one of the moving averages. So this way I stay out of those trades and wait
and see where m1 stops. If the price stops at the next MA than I dare to take the trade.
But this is still new and I need more experience. Today I failed with all of my trades.
It would be great if, whenever you find time and are willing to, you could help me understand m1 and m5 better.

Cheers,
Never stop to learn
  • #11,053
  • Jul 9, 2014 5:42am Jul 9, 2014 5:42am
Quoting Sesamstrasse
{quote} The one and only valid entry for a 10 Ema touch M15 EJ is marked by my arrow . I jumped on the 35 sma touch ( stopped -6 ). {image}
Thanks Sesamstrasse, for showing the strong 10 EMA trade.

I am working on being more patient. I think I'll stay away from EJ and be on watch mode
for now.
Never stop to learn
  • #11,054
  • Jul 9, 2014 5:45am Jul 9, 2014 5:45am
Quoting Whatsmyname
{quote} Thanks Sesamstrasse, for showing the strong 10 EMA trade. I am working on being more patient. I think I'll stay away from EJ and be on watch mode for now.
..better stay away from m1 for a while ...
as you can see EJ had a nice entry and very often it gives me pips.
Start with m15 as maintrend and train your skills .
I´m sure you are very good for a beginner .
Risiko birgt immer auch die Chance.
  • #11,055
  • Jul 9, 2014 6:40am Jul 9, 2014 6:40am
Thanks for the kind words
Today is not my day. I'll call it a day and continue reading this thread.
Had my three losses for the day.


May I ask for the experienced traders to have a look at Post 11,039
http://www.forexfactory.com/showthre...36210&page=552

Happy pippin everyone.
Cheers,
WMN
Never stop to learn
  • #11,056
  • Jul 9, 2014 7:06am Jul 9, 2014 7:06am
Quoting Whatsmyname
Thanks for the kind words Today is not my day. I'll call it a day and continue reading this thread. Had my three losses for the day. May I ask for the experienced traders to have a look at Post 11,039 http://www.forexfactory.com/showthre...36210&page=552 Happy pippin everyone. Cheers, WMN
Simple !
The MA´s in M15 are flat ..
M15 is the trend of the moment , but there is no trend!!
Your m5 ( what is absolutely not the trend of the moment ) showed a second bounce ..
So what do you think will my answer be ???

EDIT :
Step one : Look for a trend
Step two : look for a retrace !
Step three:find trend and retrace !!!
Step four : enter your trade in direction of the trend inn the retrace at a first touch .

For constrainments go to the original " Dance" thread, Clay explained it much better than I can ever do .

Good advice : If there´s no trend in M15 , watch higher tf´s , very often it´s a flat in M15 , but H4 just waits for a bounce.
The bounces in higher tf´s can be very strong .
Risiko birgt immer auch die Chance.
  • #11,057
  • Jul 9, 2014 7:22am Jul 9, 2014 7:22am
I think the fx markets are very easy these days....

Propably traders start their holidays....
  • #11,058
  • Jul 9, 2014 7:33am Jul 9, 2014 7:33am
Quoting Sesamstrasse
{quote} Simple ! The MA´s in M15 are flat .. M15 is the trend of the moment , but there is no trend!! Your m5 ( what is absolutely not the trend of the moment ) showed a second bounce .. So what do you think will my answer be ??? EDIT : Step one : Look for a trend Step two : look for a retrace ! Step three:find trend and retrace !!! Step four : enter your trade in direction of the trend inn the retrace at a first touch . For constrainments go to the original " Dance" thread, Clay explained it much better than I can ever do . Good advice : If there´s...

Haha, ok.

Thanks a lot for taking your time. Theory is easy, but putting it in practice takes some effort and time.
Am going back to the basics and try not to interpret more than there is.
Trade what you see!!!

Two days of profit is not gonna make me a star

Thanks for writing the steps
Never stop to learn
  • #11,059
  • Jul 9, 2014 7:41am Jul 9, 2014 7:41am
Quoting makonen
I think the fx markets are very easy these days.... Propably traders start their holidays....
Yep holidays starting soon ..
And FOMC is tonight , that´s why specially the dollar pairs are weak .
Risiko birgt immer auch die Chance.
  • #11,060
  • Jul 10, 2014 2:38am Jul 10, 2014 2:38am
Good morning everyone,

I made my first trade and got stoped out. Entred long on a touch of H1 50 with a confluence of the
daily pivot point. In the hindsight, I should have taken the warning m15 was giving serious.
The daily and hourly are bullish.
Is there any more warning I didn't pay attention to?

Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.7. -1 7Pips.jpg Size: 334 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.7. -1 stopped out.jpg Size: 345 KB


Cheers,
Never stop to learn
10 traders viewing now