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CHOROS System

  • #11,541
  • Oct 7, 2014 7:42am Oct 7, 2014 7:42am
Not many chances to trade The Dance this week so far...
  • #11,542
  • Oct 8, 2014 3:22am Oct 8, 2014 3:22am
Quoting Sheik
Not many chances to trade The Dance this week so far...
I hear you Sheik. I've taken about 4 trades this week (2 positive and 2 negative) but have noticed there are often opposing signals on a different TF so I'm taking my pips early. So far I'm BE.
  • #11,543
  • Oct 8, 2014 4:33am Oct 8, 2014 4:33am
Quoting Sheik
Not many chances to trade The Dance this week so far...
Not sure I agree. Monday was slow (as it usually is) but yesterday was a real slug fest and today the markets seem to be picking up speed.
Also I would argue that these "slower" days " open up for other trades apart from the touch trades and using other timeframes (if you are not doing it already of course).
This morning a case could be made to go short on the USDJPY basend on the H4 chart 10EMA and round nr.
Also on these slower days it seems as if there is plenty of opportunity to take constrainment trades. I just tried this one on the EURJPY.

Still lots of training needed for me.
Attached Image (click to enlarge)
Click to Enlarge Name: 20141008_EURJPY.jpg Size: 152 KB
  • #11,544
  • Oct 8, 2014 5:28am Oct 8, 2014 5:28am
Very very slow today or maybe I've been watching too much simulator.
  • #11,545
  • Oct 8, 2014 5:50am Oct 8, 2014 5:50am
Despite what I thought was a AAA trade on GBPJPY with touch of 10EMA on H1, confluence of 35,50 and RN on 15, price retreated a fraction and then blew straight through and took out my stop.

Struggling to figure out what I'm doing wrong.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.PNG Size: 69 KB
  • #11,546
  • Oct 8, 2014 6:10am Oct 8, 2014 6:10am
Quoting grantyboy
Despite what I thought was a AAA trade on GBPJPY with touch of 10EMA on H1, confluence of 35,50 and RN on 15, price retreated a fraction and then blew straight through and took out my stop. Struggling to figure out what I'm doing wrong. {image}
Ooh , thatīs easy !
Sometimes it just donīt work !
And specially GJ and GCAd are really hard to trade !
They overrun very often stops and come back .
I cannot recomment these pairs for this strategy.

Guido
Risiko birgt immer auch die Chance.
  • #11,547
  • Oct 8, 2014 6:19am Oct 8, 2014 6:19am
Quoting Sesamstrasse
{quote} Ooh , thatīs easy ! Sometimes it just donīt work ! And specially GJ and GCAd are really hard to trade ! They overrun very often stops and come back . I cannot recomment these pairs for this strategy. Guido
So the entry looked ok then?
  • #11,548
  • Oct 8, 2014 7:04am Oct 8, 2014 7:04am
Quoting grantyboy
{quote} So the entry looked ok then?
In M15 I hadnīt taken it ! .. 35/50 are not " clear " enough for my taste .. ( but valid )

H1 .. was also not my taste .. so : No , I hadnīt taken it .

If Cable and EJ isnīt enough .. look on EA as a third pair.
But this should be absolutely enough to monitor.
More pairs means not quicker learning this strategy .
Itīs a kind of discretion needed and you will only " learning by doing" when you stick to it until you know exactly and stick exactly to the rules .
I never said itīs easy !!
Guido
Risiko birgt immer auch die Chance.
  • #11,549
  • Oct 8, 2014 7:11am Oct 8, 2014 7:11am
Quoting Sesamstrasse
{quote} In M15 I hadnīt taken it ! .. 35/50 are not " clear " enough for my taste .. ( but valid ) H1 .. was also not my taste .. so : No , I hadnīt taken it . If Cable and EJ isnīt enough .. look on EA as a third pair. But this should be absolutely enough to monitor. More pairs means not quicker learning this strategy . Itīs a kind of discretion needed and you will only " learning by doing" when you stick to it until you know exactly and stick exactly to the rules . I never said itīs easy !! Guido
Another really bad day for me. - 10 % in the account. Wherever i enter price seems to always turn around and go in the opposite direction. Maybe im just not suited to this strategy.
  • #11,550
  • Oct 8, 2014 7:21am Oct 8, 2014 7:21am
Quoting grantyboy
{quote} Another really bad day for me. - 10 % in the account. Wherever i enter price seems to always turn around and go in the opposite direction. Maybe im just not suited to this strategy.

Hey common !!
You started posting here 2 months ago ..
You cannot expect to learn it in a couple of weeks!

As I said .. over and over again ..
USE THE SIMULATOR ..
It will give you the confidence after months..
then start demoing ..
You guys īre thinking buy a Lamborghini push the first gear and start with 9000 Rpm .. .. make sure the garage door is open !
Wish you good luck with all your trading .
Guido
Risiko birgt immer auch die Chance.
  • #11,551
  • Oct 8, 2014 7:24am Oct 8, 2014 7:24am
Quoting Sesamstrasse
{quote} Hey common !! You started posting here 2 months ago .. You cannot expect to learn it in a couple of weeks! As I said .. over and over again .. USE THE SIMULATOR .. It will give you the confidence after months.. then start demoing .. You guys īre thinking buy a Lamborghini push the first gear and start with 9000 Rpm .. .. make sure the garage door is open ! Wish you good luck with all your trading . Guido
Fair enough although i am using the simulator a lot.
  • #11,552
  • Edited 7:43am Oct 8, 2014 7:30am | Edited 7:43am
Quoting grantyboy
{quote} Fair enough although i am using the simulator a lot.
For that case one good advice :
Cable .. m15.. highest level ... ( only watching ).. do it 5-10 min .. look how nice the price touch lines ..


.... and now .. put it to a slow( 30 or so ) level ... , wait for a " breakout " .. ma angles getting steep ..
take the first touch 10Ema.. 10-12 pips tp .. same sl .. half way of your TP trigger to BE


and after 10-15 AAA trades .. make the graph visible ..
If it īs not profitable , then you donīt enter correctly !
I have for the Simulator a seperate MT4 .. I use the worst broker I know for it ..
Reason :
If Iīm profitable with the worst .. Iīm also profitable with a good one ..
Guido
Risiko birgt immer auch die Chance.
  • #11,553
  • Oct 8, 2014 7:54am Oct 8, 2014 7:54am
Quoting grantyboy
{quote} Another really bad day for me. - 10 % in the account. Wherever i enter price seems to always turn around and go in the opposite direction. Maybe im just not suited to this strategy.
Granty, post up some pictures of trades you take. It's easier for everyone to comment on, and it will give you a better chance of getting correct feedback.

On another note; you had a 10% loss today? Or is that your total loss so far. Becasue if you are loosing 10% of capital each day then you need to take a look at your money management. What rules do you have in place?
  • #11,554
  • Oct 8, 2014 7:59am Oct 8, 2014 7:59am
Quoting Intense
{quote} Not sure I agree. Monday was slow (as it usually is) but yesterday was a real slug fest and today the markets seem to be picking up speed. Also I would argue that these "slower" days " open up for other trades apart from the touch trades and using other timeframes (if you are not doing it already of course). This morning a case could be made to go short on the USDJPY basend on the H4 chart 10EMA and round nr. Also on these slower days it seems as if there is plenty of opportunity to take constrainment trades. I just tried this one on the...
Well, I am looking for exactly that, touch trades of 10 EMA on m15, because this is the setup I am most comfortable for now in this strategy. But like you said, this week gave me a chance to practice constrainment trades and that is what I did, on demo for now. I still have a lot to learn here.
  • #11,555
  • Oct 8, 2014 8:28am Oct 8, 2014 8:28am
Quoting Sheik
{quote} Well, I am looking for exactly that, touch trades of 10 EMA on m15, because this is the setup I am most comfortable for now in this strategy. But like you said, this week gave me a chance to practice constrainment trades and that is what I did, on demo for now. I still have a lot to learn here.
I think that is a smart approach. I have done the same thing, breaking the strategy down into the different entries, and only focusing on learning one at a time. It's only now that I feel slightly more comfortable with the touch trades i'll start incorporating the constrainments and such.

Done for today with small losses. That EURJPY trade did not go my way, and cant really find other interesting trades.

See you all tomorrow.
  • #11,556
  • Oct 8, 2014 4:47pm Oct 8, 2014 4:47pm
Quoting Intense
{quote} Granty, post up some pictures of trades you take. It's easier for everyone to comment on, and it will give you a better chance of getting correct feedback. On another note; you had a 10% loss today? Or is that your total loss so far. Becasue if you are loosing 10% of capital each day then you need to take a look at your money management. What rules do you have in place?
I was using a multi position phased in approach that i'd used with success in the past. However price kept going and ran through all the ma's. This caused most of the damage. Not going to cry over it today. I've analysed it, realised what i did wrong and also observed something which i'll share once ive had time to test and digest.

Thanks for yours and guidos comments though. Much appreciated.
  • #11,557
  • Oct 9, 2014 3:12am Oct 9, 2014 3:12am
what i see from observation is that the strategy seems to work best with the majors (against the USD), means GU, EU, AU, NU, UJ and UC
  • #11,558
  • Oct 9, 2014 3:27am Oct 9, 2014 3:27am
Quoting yag
what i see from observation is that the strategy seems to work best with the majors (against the USD), means GU, EU, AU, NU, UJ and UC
Yes, absolutely correct , normally you can trade every chart with a small spread .
UJ is a little slow for my taste , GJ and GCAD too fast and no respecting the MAīs too often , but thatīs only my opinion ..
Important is only " one market " minimum should be open when you trade that pair
to make sure itīs enough liquidity in that pair.

If you give a first view to new pairs , watch exactly if thereīs a little volatility and the candles/ prices respects the line .
Thatīs it .. same business like everywhere..
Guido
Risiko birgt immer auch die Chance.
  • #11,559
  • Edited 7:59pm Oct 9, 2014 6:46pm | Edited 7:59pm
I mentioned a couple of days ago that I'd made an observation which I needed to validate more in the Simulator. I think it's one of the reasons I've been taking poor trades. What I haven't been focussing on is the P/A prior to the MA triggers which seems to make a big difference to the outcome. Still early days and I need to perform more testing but sharing it anyway. 2 examples provided below for illustrative purposes only. Please ignore other factors, (E.g. approaching resistance at recent Highs)

I guess the key learning for myself is that it's about When, Where and How P/A is behaving prior to when the trigger occurs.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.PNG Size: 42 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM15.PNG Size: 45 KB
  • #11,560
  • Oct 10, 2014 2:41am Oct 10, 2014 2:41am
Quoting grantyboy
I mentioned a couple of days ago that I'd made an observation which I needed to validate more in the Simulator. I think it's one of the reasons I've been taking poor trades. What I haven't been focussing on is the P/A prior to the MA triggers which seems to make a big difference to the outcome. Still early days and I need to perform more testing but sharing it anyway. 2 examples provided below for illustrative purposes only. Please ignore other factors, (E.g. approaching resistance at recent Highs) I guess the key learning for myself is that it's...
To your EA chart..
My interpretation would be a little different .
I think the big players wanted to fish new stops
--who knows,, the only fact we know is : steep angles, a wonderful touch and a minimum ofn 15 pips .
And thatīs a good reason why to enter it .
I made more pips with fix TPīs , because very often the market turns back after it bounced a line .
For " trendfollowing" you re absolutely right .. Just my opinion ..

For " priceaction" analyses, Iīm not the right man .. I can read it with out the MAīs , but not with the lines..
In my country we have a syaing for it : "Ich sehe den Wald vor lauter Bäumen nicht " / Canīt see the forest .. to many trees in my view "

But thereīs a senior member " Endroute " , he explains very well priceaction .
Guido
Risiko birgt immer auch die Chance.
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