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CHOROS System

  • #11,061
  • Jul 10, 2014 3:45am Jul 10, 2014 3:45am
Quoting Whatsmyname
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? {image} {image} Cheers,
I donīt use that lines in any kind .
Just 10 ( +9 for a better visualisation in red ), 35 and 50 in my template.
But easy it is :
If you take a signal in a higher TF , take it from there .
I like it simple and my trades are around two of three positive .
Never worked with other lines in one chart and Iīm successful with it .

If I had watched this chart , I hadnīt taken this trade from M15 , bettter the confluence of 10 ema touch and DP.
Reason :
MA soup !!!
10 ema was between the two others ... no clear trend of the moment .
May be in a higher TF it was not so bad ... aah no .. just switched to H1 + H4 .. and NO !
H1 : no entry ( Porcupine )
H4 no entry , flat/ ma soup.
Loook for clear trends ( with steep Ma angles ), find a retrace .. and take it as close as possible to the line .
You canīt trade every touch of the line!!
Guido
Risiko birgt immer auch die Chance.
  • #11,062
  • Jul 10, 2014 4:39am Jul 10, 2014 4:39am
UJ H1 constrainment .
17 pips in my pocket ..
More and more I like H1
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYcH1.png 10.7..png Size: 49 KB
Risiko birgt immer auch die Chance.
  • #11,063
  • Edited 5:50am Jul 10, 2014 5:34am | Edited 5:50am
GU Daily 10 EMA touch. Confluence of daily and weekly pivot.
PA on m15 also suggests some stong support.

Am glad I closed this BE as price took it's own sweet time.
m15 35/50 stong down. I was expecting a move to around 1,714 (35/50) cause the H4 35/50 did spread wide. There was one
of the MAs sitting.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.7. -2 D1 10 13 Pips.jpg Size: 359 KB
Never stop to learn
  • #11,064
  • Jul 10, 2014 5:43am Jul 10, 2014 5:43am
Confluence trade on GBP/CAD for a quick 8 Pips.
H1 constrained by 35. Price is below EMA 10.
M15 confluence of 35/50 and dp. Took the trade on m5 after dp rejected price.
sl 13 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP CAD 10.7. Confluence 13 Pips.jpg Size: 352 KB


Moved stop to BE+1. Only noticed after I entered the round numbers.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP CAD 10.7. Confluence BE 1.jpg Size: 400 KB


Partial tp due to long previous pa, weekly pivot and round nr. Moved stop to BE+6.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP CAD 10.7. Confluence BE 1 partial tp 10 BE 6.jpg Size: 401 KB


I did get stoped out at the last ts.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP CAD 10.7. Confluence close.jpg Size: 376 KB
Never stop to learn
  • #11,065
  • Jul 10, 2014 5:48am Jul 10, 2014 5:48am
Quoting Sesamstrasse
{quote} I donīt use that lines in any kind . Just 10 ( +9 for a better visualisation in red ), 35 and 50 in my template. But easy it is : If you take a signal in a higher TF , take it from there . I like it simple and my trades are around two of three positive . Never worked with other lines in one chart and Iīm successful with it . If I had watched this chart , I hadnīt taken this trade from M15 , bettter the confluence of 10 ema touch and DP. Reason : MA soup !!! 10 ema was between the two others ... no clear trend of the moment . May be in a...
Thanks for your support, Ses.
I didn't notice the porcupine on H1.
M15 everything was shouting short. I was not listening.
I missed the bounce of the 10 EMA afterwards, which would have been a perfect dance trade.

I know my biggest problem is, that I fear missing a trade. I need to wrok on that.
At least I know what to work on
Never stop to learn
  • #11,066
  • Edited 6:12am Jul 10, 2014 5:59am | Edited 6:12am
Quoting Whatsmyname
GU Daily 10 EMA touch. Confluence of daily and weekly pivot. I closed this BE as price took it's own sweet time. m15 35/50 stong down. I was expecting a move to arund 1,714 (35/50) cause the H4 35/50 did spread wide. There was one of the MAs sitting. {image}

Daily 10 ema touch .. aah ha?? -- please count how often the price touched the 10 Ema in daily chart before .
Do you still accept it ?? I count SEVEN touches before !! NOT good!!!!!!! .. and not valid !!

ONLY .. yes ONLY first touches !! ..... very rare a second touch ( I never do , but Kostas )

So itīs only the DP and Weekly Pivot .. and broke it 3 times the last days

Would you accept this ??

You still mix all reasons to find a entry.. sry to let you know.


AGAIN ::
1. step , look for a trend in that timeframe you want enter!!!
2. angles steep enough ??.. look for a retrace !!
3. enter as close as possible to the line ..
..and do not mix too much !
start with m15 ( trend of the moment ).. and look for higher tf confirmation ..
Find a valid entry ( 1-2 times a day ) and shoot !

Until you can handle this strategy , you better throw all dotted lines out of screen ..
only 10 Ema . 35 sma and 50 ema .
keep it simple ..
If you canīt walk.. you canīt run !
Guido
Risiko birgt immer auch die Chance.
  • #11,067
  • Jul 10, 2014 6:07am Jul 10, 2014 6:07am
Quoting Whatsmyname
{quote} Thanks for your support, Ses. I didn't notice the porcupine on H1. M15 everything was shouting short. I was not listening. I missed the bounce of the 10 EMA afterwards, which would have been a perfect dance trade. I know my biggest problem is, that I fear missing a trade. I need to wrok on that. At least I know what to work on
No worry ..
But you should look on your charts!
If you donīt trade " clear" trends , you will lose more than win for sure !
No good entry .. no trade !
Being picky is the right way !
Patience is the key.
Risiko birgt immer auch die Chance.
  • #11,068
  • Jul 10, 2014 6:20am Jul 10, 2014 6:20am
Quoting Sesamstrasse
{quote} ... You still mix all reasons to find a entry.. sry to let you know. AGAIN :: 1. step , look for a trend in that timeframe you want enter!!! 2. angles steep enough ??.. look for a retrace !! 3. enter as close as possible to the line .. ..and do not mix too much ! start with m15 ( trend of the moment ).. and look for higher tf confirmation .. Find a valid entry ( 1-2 times a day ) and shoot ! Until you can handle this strategy , you better throw all dotted lines out of screen .. only 10 Ema . 35 sma and 50 ema . keep it simple .. If you canīt...
No need to be sorry. It's cool you are being straight forward and point my mistakes blank.

This is something I need to work on. I keep looking for reasons to enter a trade. This is a bad
approach. Once I am on the trade, I think, I should have not done that. Happened yesterday and
today with the GU. I am happy I managed to get out on time BE.

I'll take a rest today and distract myself.

Cheers,
WMN
Never stop to learn
  • #11,069
  • Jul 10, 2014 1:30pm Jul 10, 2014 1:30pm
It was calm before the storm!
Finally today was a day with a nice move perfect for choros!
Attached Image (click to enlarge)
Click to Enlarge Name: 25.png Size: 28 KB
  • #11,070
  • Edited Jul 11, 2014 2:12am Jul 10, 2014 2:45pm | Edited Jul 11, 2014 2:12am
Quoting makonen
It was calm before the storm! Finally today was a day with a nice move perfect for choros! {image}
I donīt understand your entry ..
How did you know that the market will continue going down ?
I know , the higher tfīs showed down .. but a valid entry I can see only a few candles before as a constrainment .
I was looking same time EJ , but had no valid reason to enter ( saw the constrainment too late )
The candle didnīt touch any line , so are you successful with these kind of entries ?
By the way .. green pips are great and I really wish you more .
Guido
Risiko birgt immer auch die Chance.
  • #11,071
  • Jul 11, 2014 5:15am Jul 11, 2014 5:15am
Quoting Sesamstrasse
{quote} I donīt understand your entry .. How did you know that the market will continue going down ? I know , the higher tfīs showed down .. but a valid entry I can see only a few candles before as a constrainment . I was looking same time EJ , but had no valid reason to enter ( saw the constrainment too late ) The candle didnīt touch any line , so are you successful with these kind of entries ? By the way .. green pips are great and I really wish you more . Guido

I consider this trade as constrainment 5m/12 & 15m/10.
There was too many candles all of them closed below 5m/12.
HTf's showed down as you said and 5m/35-50 made a very good bias and was steep enough.
So, I think the possibilities were in my side.
The choros 5m/12 touch signal was 14 5m candles later and for this reason kept my trade a little bit more....
  • #11,072
  • Jul 11, 2014 7:01am Jul 11, 2014 7:01am
Quoting makonen
{quote} I consider this trade as constrainment 5m/12 & 15m/10. There was too many candles all of them closed below 5m/12. HTf's showed down as you said and 5m/35-50 made a very good bias and was steep enough. So, I think the possibilities were in my side. The choros 5m/12 touch signal was 14 5m candles later and for this reason kept my trade a little bit more....
Yes , you re right ..the intesting thing in dancing is :
Itīs enough space to find eachothers right way..
What works fine for one , may be fits not to the other trader ..
I never understand the m5 entries .. but m15 is good to me .
And it looks like h1 also fits to me ..
So all dancers a nice wekend .
ciao Guido
Risiko birgt immer auch die Chance.
  • #11,073
  • Jul 14, 2014 2:19am Jul 14, 2014 2:19am
Hi All, I am back to trading, demo for a while as I had few months of break from fx.
my first trade of today - entry and exit circled - 20 pips gained
exit as in EUR/JPY price likes to stop on XXX.30 and XXX.80 and it was same this time
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 98 KB
On my way to financial independence - if others can do it - I can do it
  • #11,074
  • Jul 14, 2014 4:09am Jul 14, 2014 4:09am
Quoting Eur Usd
Hi All, I am back to trading, demo for a while as I had few months of break from fx. my first trade of today - entry and exit circled - 20 pips gained exit as in EUR/JPY price likes to stop on XXX.30 and XXX.80 and it was same this time {image}
In my chart it stopped at XXX40 , and Donot count the 30 + 80 level as anything ..
But nice to have you back ..
And I wish I had taken that trade
Risiko birgt immer auch die Chance.
  • #11,075
  • Jul 14, 2014 4:10am Jul 14, 2014 4:10am
Quoting Eur Usd
Hi All, I am back to trading, demo for a while as I had few months of break from fx. my first trade of today - entry and exit circled - 20 pips gained exit as in EUR/JPY price likes to stop on XXX.30 and XXX.80 and it was same this time {image}
  • #11,076
  • Edited 6:27am Jul 14, 2014 5:53am | Edited 6:27am
Quoting Eur Usd
Hi All, I am back to trading, demo for a while as I had few months of break from fx. my first trade of today - entry and exit circled - 20 pips gained exit as in EUR/JPY price likes to stop on XXX.30 and XXX.80 and it was same this time {image}
Hi EUR USD,

Nice trade. I missed that one. Got up too late and issues with my platform.
Am adjusting now everything again.
I am in the counter move now, based on the H4 touch of the 35/50. In m5 price is constrained by the 35 MA.
Price might move back to the weekly Pivot.

SL is rather big on this trade. SL 16 Pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 14.07. -1 H4 35 50 touch 16 Pips.jpg Size: 360 KB


***Edit*** Adjusted my stop to 8 Pips based on m15

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 14.07. -1 H4 35 50 touch 8 Pips.jpg Size: 371 KB


***Edit2***
I closed the trade for a 6 Pip loss. Price was hesitating too much and climbed over 35 on m5.
Never stop to learn
  • #11,077
  • Jul 14, 2014 6:21am Jul 14, 2014 6:21am
congratz on Germany's Football ;-)
Regarding to EJ - I think it will still go up. 4h has inside bar, 1h has few inside bars, 15m has price constrainment at 138,25-138,30 area at 10 ema. Also this area seems to be support after it was resistance in the morning. I am still long with tp at 138.50
On my way to financial independence - if others can do it - I can do it
  • #11,078
  • Jul 14, 2014 6:26am Jul 14, 2014 6:26am
this is how I see it. Blue circles are resistance that turned into support later on that constrains around 10ema.
green circle is my point of entry. red line is my s/l, tp is at 138.50. yellow lines - top one points highest point of today, lower yellow showc channel in which price stays
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 105 KB
On my way to financial independence - if others can do it - I can do it
  • #11,079
  • Jul 14, 2014 6:35am Jul 14, 2014 6:35am
Quoting Eur Usd
congratz on Germany's Football ;-) Regarding to EJ - I think it will still go up. 4h has inside bar, 1h has few inside bars, 15m has price constrainment at 138,25-138,30 area at 10 ema. Also this area seems to be support after it was resistance in the morning. I am still long with tp at 138.50
Thanks, it was a good match

I saw what you are explaining and am already out of the market. I saw the H4 35/50 and confluence with 10 on D1 so figured it would be good for a quick retrace. But price did get constrained by the 10 m15. m5 50 was also too tough to get violated.
I'll wait and see if I find a good spot to enter.

Cheers,
Never stop to learn
  • #11,080
  • Jul 14, 2014 7:03am Jul 14, 2014 7:03am
Quoting Eur Usd
this is how I see it. Blue circles are resistance that turned into support later on that constrains around 10ema. green circle is my point of entry. red line is my s/l, tp is at 138.50. yellow lines - top one points highest point of today, lower yellow showc channel in which price stays {image}
In ,my eyes itīs no kind of support or resistance level ..
Itīs simple a flat with a range about 7 pips.
the reason why I didnīt take the first touch M15 was the higher TFīH4 .. as simple as it is .
In H4 itīs hanging on Ema 50 .
The H4 candle opened below the 50 ema and itīs a short ( 10 Ema below the 35 + 50 ) .. so I donīt trade it .
Your EJ m15 entry was great .., but no reason to enter here a long again !
Risiko birgt immer auch die Chance.
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