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CHOROS System

  • #11,461
  • Sep 23, 2014 4:22am Sep 23, 2014 4:22am
Quoting Intense
So we just had som interesting action in several pairs and since I am still learning and using very small lot sizes, of course i took all of them. Now it's time to see if I can learn from my misstakes (if any were made). So the EURJPY and GBPUSD basically gave us the exact same setup (only EURJPY shown here for that reason) I took this trade simply because of the 2 bar touch of the 10 and since it was a pretty aggressive downmove. (screenshot is taken a bar later therefore the slope has already flattened aggressivly). I was hesitant since we had...
i am new to this approach, but not to the markets, so my comment will be short.

my only observation on EJ was that the pips distance from low to EMA 10 was around 40, thats from my observation too much.
  • #11,462
  • Edited 5:18am Sep 23, 2014 4:47am | Edited 5:18am
Quoting Intense
So we just had som interesting action in several pairs and since I am still learning and using very small lot sizes, of course i took all of them. Now it's time to see if I can learn from my misstakes (if any were made). So the EURJPY and GBPUSD basically gave us the exact same setup (only EURJPY shown here for that reason) I took this trade simply because of the 2 bar touch of the 10 and since it was a pretty aggressive downmove. (screenshot is taken a bar later therefore the slope has already flattened aggressivly). I was hesitant since we had...
The market does what is wants , and sometimes it just donīt work .
Itīs part of the game.
Last June , I had 20 trades in a row all reached my target.
In January I had 20 in a row , most of them hit my SL and just 3 or 4 I got a BE.
Important is a moneymanagement.

Today looks like the market is milking us, but better days will come for sure.

Iīm also stopped in EA - 10 , GU - 10 ( 10 ema touch m15 ) GU second 35/50 touch - 10
Sometimes it just donīt work .

The Gu trade wasnīt that clever , the reason I can see now; look on the H4 chart !! I also saw it after I got stopped!
if I had seen it before , I hadnīt enter . ( H4 bounce 35/50 ). If .. if... if...
The Maīs in higher timeframes can have strong moves, what happened here.
So finally I can say ;
A nice touch , steep angles , enough space for a trade , higher timeframes confirm ( what wasnīt here ) , in that case
I produce more green pips than red.
But it shows me again , the price reacts good with the lines, only mistake was to enter without the confirming higher TFīs .
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDcH4.png 23.9..png Size: 46 KB
Risiko birgt immer auch die Chance.
  • #11,463
  • Sep 23, 2014 5:58am Sep 23, 2014 5:58am
Quoting Sesamstrasse
{quote} The market does what is wants , and sometimes it just donīt work . Itīs part of the game. Last June , I had 20 trades in a row all reached my target. In January I had 20 in a row , most of them hit my SL and just 3 or 4 I got a BE......}

Great, always good with input.
I will be monitoring those kinds of trades a bit closer from now on.

Also great call on the 4H chart. I should probably be using it more. In fact it saved me a bit today just after you mentioned it in the USDJPY trade i posted. It was going well and I was moving my stop according to the rules. I ended up taking a bit more profit by closing it manually as it touched the 35 on the 4H in the strong uptrend.

Will probably be using the 4H a bit more instead of daily. I only really need to check the daily once a day since it very rarely comes in to play.
  • #11,464
  • Sep 23, 2014 6:36am Sep 23, 2014 6:36am
Hoping this was a clear cut trade in EURUSD.

two bar touch of the 10EMA. Got in a bit late since i missed the touch because i was managing another trade.


Attached Image (click to enlarge)
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How many touches would you more experianced guys say have taken place on the 10EMA?
I am guessing you dont consider the chaos around the pivot and round nr a "touch". But would you consider it a "touch" around the R1 level?
It never actually touches (and was even further away in real time), but it gives the same reaction we expect from a touch trade.
  • #11,465
  • Edited Sep 24, 2014 3:29am Sep 23, 2014 7:20am | Edited Sep 24, 2014 3:29am
Quoting Intense
Hoping this was a clear cut trade in EURUSD. two bar touch of the 10EMA. Got in a bit late since i missed the touch because i was managing another trade. {image} How many touches would you more experianced guys say have taken place on the 10EMA? I am guessing you dont consider the chaos around the pivot and round nr a "touch". But would you consider it a "touch" around the R1 level? It never actually touches (and was even further away in real time), but it gives the same reaction we expect from a touch trade.
too late for my taste ..

and itīs again on a MA of a higher TF ( D1 10 ema ), nono,
Not for me ..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcM15.png 23.9..png Size: 44 KB
Risiko birgt immer auch die Chance.
  • #11,466
  • Sep 23, 2014 7:28am Sep 23, 2014 7:28am
Quoting Sesamstrasse
{quote} too late for my taste .. and itīs again on a MA of a higher TF ( D1 10 ema ), nono, Not for me .. {image}
Sesam I think you are looking at the "third" bounce (I might be wrong though). My trade is the second one you have marked out on your chart (with the little red arrow).

I got out just below whole nr. Not attempting to take this "third" bounce.

But if you meant the second bounce i felt that it still hade some nice space until it would reach daily 10ema wich on my charts is at around 1.2910

You still would not have taken it?
  • #11,467
  • Sep 23, 2014 8:26am Sep 23, 2014 8:26am
Quoting Intense
{quote} Sesam I think you are looking at the "third" bounce (I might be wrong though). My trade is the second one you have marked out on your chart (with the little red arrow). I got out just below whole nr. Not attempting to take this "third" bounce. But if you meant the second bounce i felt that it still hade some nice space until it would reach daily 10ema wich on my charts is at around 1.2910 You still would not have taken it?
no.. I counted correct. I only take first touches very stricktly . Guido
Risiko birgt immer auch die Chance.
  • #11,468
  • Sep 24, 2014 3:27am Sep 24, 2014 3:27am
Dax M15 first touch 10 ema . After 7 pips in profit i triggered to BE and got stopped.
h1 gives a better view, if the price goes a strong move to around 9700 ( 35Sma + 50 Ema + DR1 Area) , I ll give it a next try.
I have not seen any other good oportunities .

Looks like a sloppy day for me at the moment , time to do other things than trading .

Guido
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M15.png 24.9..png Size: 36 KB
Risiko birgt immer auch die Chance.
  • #11,469
  • Sep 24, 2014 3:37am Sep 24, 2014 3:37am
Quoting Sesamstrasse
Dax M15 first touch 10 ema . After 7 pips in profit i triggered to BE and got stopped. h1 gives a better view, if the price goes a strong move to around 9700 ( 35Sma + 50 Ema + DR1 Area) , I ll give it a next try. I have not seen any other good oportunities . Looks like a sloppy day for me at the moment , time to do other things than trading . Guido {image}
Unfortunate.

It's a really slow morning for me so far. Not finding anything perfect this morning in regards to this system.
Think i might have to watch more pairs than I currently am. Since I dont feel confident with constrainment trades yet I only take bounce trades and it seems I could manage more pairs. How many/wich pairs do you watch sesam?

I see you trade the DAX a lot. My broker is adding a new account type soon with CFD's for several indexes and such. Might give it a try.

Have a nice day. Can be nice just skipping trading some times.
  • #11,470
  • Edited 5:42am Sep 24, 2014 3:49am | Edited 5:42am
Quoting Intense
{quote} Unfortunate. It's a really slow morning for me so far. Not finding anything perfect this morning in regards to this system. Think i might have to watch more pairs than I currently am. Since I dont feel confident with constrainment trades yet I only take bounce trades and it seems I could manage more pairs. How many/wich pairs do you watch sesam? I see you trade the DAX a lot. My broker is adding a new account type soon with CFD's for several indexes and such. Might give it a try. Have a nice day. Can be nice just skipping trading some times....
Aaah nononono !

Before you start adding more charts , you should learn by the rules / manual how to trade it !
If you wanna run , make sure you can walk !
From that moment you know exactly in the first view what pairs react nice with the lines, then you can do..
but for the beginning I recomment Cable !

All questions you ask are already answered a couple of weeks ago !
http://www.forexfactory.com/showthre...51#post7728451
Do some homework !
Days like this are wonderful to use the simulator 1-2 hours.
Donīt rush , or the market will eat your account.

If you really want to learn this strategy , itīs necessary to read the Choros thread !

Start with the original dance thread :http://www.forexfactory.com/showthread.php?t=224697
Eclayf made a incredible work , I have around 7 years experience in trading , but that was a totally new kind of view to me .
And Iīm in this " style " just a better newbie and I stilll have a lot to learn .
Guido
Risiko birgt immer auch die Chance.
  • #11,471
  • Sep 24, 2014 5:43am Sep 24, 2014 5:43am
Quoting Sesamstrasse
Dax M15 first touch 10 ema . After 7 pips in profit i triggered to BE and got stopped. h1 gives a better view, if the price goes a strong move to around 9700 ( 35Sma + 50 Ema + DR1 Area) , I ll give it a next try. I have not seen any other good oportunities . Looks like a sloppy day for me at the moment , time to do other things than trading . Guido {image}
I took the same one and got some pips out of it, but in hindsight it was not a good trade. There was a SFP at a significant swing low (red line). From my experience this usually makes price go up really strong, so I usually don't counter trend SFPs.

Edit: There was some resistance around 7600, but that had already been pierced earlier today.
Attached Image (click to enlarge)
Click to Enlarge Name: 20140924Ger30Dec14_H1.png Size: 51 KB
  • #11,472
  • Edited 6:36am Sep 24, 2014 6:14am | Edited 6:36am
Quoting That guy
{quote} I took the same one and got some pips out of it, but in hindsight it was not a good trade. There was a SFP at a significant swing low (red line). From my experience this usually makes price go up really strong, so I usually don't counter trend SFPs. Edit: There was some resistance around 7600, but that had already been pierced earlier today. {image}
Totally agree, the indices are a little more difficult to trade!
Many traders ( also institutionals ) keep positions ( pendings) on low or high levels.
Normally the institutionals donīt trade the spot Fx market, the use futures for it.
I usually trigger my Sl to BE very quick ..
But specially the Dax reacts nice with the moving averages, thatīs why I did it to my watchlist.
Roma wasnīt build in one day.. but they built it .. hehehe,
Green pips to you Guido
Risiko birgt immer auch die Chance.
  • #11,473
  • Sep 25, 2014 1:29am Sep 25, 2014 1:29am
good morning,

the early bird catches the worm

+26 pips with GU
Attached Image (click to enlarge)
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  • #11,474
  • Edited 4:09am Sep 25, 2014 3:33am | Edited 4:09am
GBPAUD M15 bounce trade off 35SMA. Also H1 confluence @ 10EMA. A real leap of faith this one to buy in strong selling.

SL 10
TP None

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM15.PNG Size: 71 KB


not going too well so far but still in the trade. P/A missed my stop by a pip
Please ignore green line. It's a 21EMA which I'm observing.
Attached Image (click to enlarge)
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Stop moved to BE +2

Attached Image (click to enlarge)
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Noticing some resistance at the under side of the 10EMA and previous M15 and H1 support areas turned resistance.
Attached Image (click to enlarge)
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Closed +15 .

Now I can go to the gym and come back later to see what's around.
  • #11,475
  • Sep 25, 2014 4:04am Sep 25, 2014 4:04am
Quoting grantyboy
GBPAUD M15 bounce trade off 35SMA. Also H1 confluence @ 10EMA. A real leap of faith this one to buy in strong selling. SL 10 TP None {image} not going too well so far but still in the trade. P/A missed my stop by a pip {image} Stop moved to BE +2 {image}

Good entry !
Just a note :
when 35Sma and 50 Ema are with a little spread , when the price / candle touches the line ,
I normally let take the touch of the 50 .
Your entry is absolutely valid!!
Just my opinion , because itīs some pips more / earlier to trigger to BE .
Looks good.. more of these
Guido
Risiko birgt immer auch die Chance.
  • #11,476
  • Sep 25, 2014 7:53am Sep 25, 2014 7:53am
Try to take the m5/12-23 ej today.
Hopefully the sloss kept alive .
Always I put sloss 3pips + spread above m5/50.
Closed almost b.e. because scared the yLow & Ds1 rejection....
Attached Image
  • #11,477
  • Sep 25, 2014 8:39am Sep 25, 2014 8:39am
+34 pips on AJ short, conflunce M35 50 with H1 10
Attached Image (click to enlarge)
Click to Enlarge Name: AJshort.png Size: 60 KB
  • #11,478
  • Sep 25, 2014 3:25pm Sep 25, 2014 3:25pm
Quoting makonen
Try to take the m5/12-23 ej today. Hopefully the sloss kept alive . Always I put sloss 3pips + spread above m5/50. Closed almost b.e. because scared the yLow & Ds1 rejection.... {image}
Sloss hehehe ... you remember me in a greek friend near Stuttgart ..They have a special diallect there .. and me .. as a non greek speaker can hear his diallect when he speaks greek ..
You made my day !
Thanks Guido
Risiko birgt immer auch die Chance.
  • #11,479
  • Sep 25, 2014 4:31pm Sep 25, 2014 4:31pm
Quoting Sesamstrasse
{quote} Good entry ! Just a note : when 35Sma and 50 Ema are with a little spread , when the price / candle touches the line , I normally let take the touch of the 50 . Your entry is absolutely valid!! Just my opinion , because itīs some pips more / earlier to trigger to BE . Looks good.. more of these Guido

Thanks for the feedback and tip. The trade would have been more comfortable and not have gotten as close to my s/l if i'd done what u suggest. Good tip that i'll file away for next time.
  • #11,480
  • Sep 25, 2014 6:59pm Sep 25, 2014 6:59pm
Hi guys, im just getting started with this strategy and forex in general. Ive read through the entire PDF and am quite excited to start trying this is demo trading. Ive encountered a problem when trying to set up my scripts though, as in the manual it tells me to turn on "expert advisors" and "allow live trading" but in my options menu i can see no options to turn either of these on. The only options i have in the expert advisors tab is to "allow automated trading".
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