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CHOROS System

  • #11,561
  • Oct 10, 2014 2:28am Oct 10, 2014 2:28am
Quoting Sesamstrasse
{quote} 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...

All good points and I won't pollute the thread any more with P/A discussion. I guess it's what I think I need to 'fine tune' an entry similar to what others do on the 5M/1M.
  • #11,562
  • Edited 5:59am Oct 10, 2014 2:45am | Edited 5:59am
Quoting grantyboy
{quote} All good points and I won't pollute the thread any more with P/A discussion. I guess it's what I think I need to 'fine tune' an entry similar to what others do on the 5M/1M.

In the original thread or in the choros thread is a manual for M1 finetune .
http://www.forexfactory.com/showthre...78#post7792578

I tried to used it....,but without any sucess .

Years ago I scalped very sucessful in M1 with another strategy.
But in fact . M1 is toooooooooo nervous for me , after 1-2 hours a day it confused me too much .., thatīs the time when expensive mistakes happen .
In Choros / Dance I feel comfortable from M15 to H1 . All other TFīs Iīdonīt like in this Strategy/ Style .
Hereīs the manual for it .. Dance M1
Good luck
Guido
Attached File(s)
File Type: pdf Dance 1 er.pdf   1.3 MB | 926 downloads
Risiko birgt immer auch die Chance.
  • #11,563
  • Edited 3:48am Oct 10, 2014 3:29am | Edited 3:48am
THought I would share a constraintment trade I just took in the EURUSD. Still trying to get the hang of these. Got punnished in EURJPY yesterday, so hoping this one goes my way.

On the H4 there is still some room down to the 35SMA and on H1 chart it had room to keep moving down to.

Attached Image (click to enlarge)
Click to Enlarge Name: 20141010_EURUSD.jpg Size: 134 KB


Update:
Moved to BE+1 and got stopped out for a pip.
  • #11,564
  • Oct 10, 2014 4:30am Oct 10, 2014 4:30am
Quoting grantyboy
{quote} All good points and I won't pollute the thread any more with P/A discussion. I guess it's what I think I need to 'fine tune' an entry similar to what others do on the 5M/1M.
Nono, you īre absolutely right..
Priceaction is a very important part in this strategy..
We have just a different kind of view ..
I think there should be more discussionabout it!!

Iīm really learning every day/ week ..

My personal view is only how the candles react with the price.. but to complete all the information , priceaction is very welcome IMO .
Guido
Risiko birgt immer auch die Chance.
  • #11,565
  • Edited 10:39am Oct 10, 2014 10:21am | Edited 10:39am
Finally 23 Choros pips today..
+ 23 + 20 - 20 Cable .
I took the signal in m15 .. expected a strong move down......
http://www.forexfactory.com/showthre...44#post7792644


... unexpected I closed my orders in profit, but feels like the market owes me 50 pips .

Nice weekend to all
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png 10..10.png Size: 29 KB
Risiko birgt immer auch die Chance.
  • #11,566
  • Oct 11, 2014 9:20am Oct 11, 2014 9:20am
Quoting Sesamstrasse
{quote} In the original thread or in the choros thread is a manual for M1 finetune . http://www.forexfactory.com/showthre...78#post7792578 I tried to used it....,but without any sucess . Years ago I scalped very sucessful in M1 with another strategy. But in fact . M1 is toooooooooo nervous for me , after 1-2 hours a day it confused me too much .., thatīs the time when expensive mistakes happen . In Choros / Dance I feel comfortable from M15 to H1 . All other TFīs Iīdonīt like in this Strategy/ Style . Hereīs the manual for...
Thanks for this!

I've been in hiding practicing my own M5/M1 scalp method that's a combo of other methods.

I agree completely though -- lots of money can be made consistently, but only for a couple hours. Takes discipline, and I've found I can only allow myself to win/lose a certain number of trades per session and I need to walk away to limit emotional input.

It is VERY exciting - which is fun, but risky because excitement means you don't have your head on straight and leads to overtrading and BIG LOSSES.
Remember that guy who gave up? Neither does anyone else.
  • #11,567
  • Oct 12, 2014 4:34pm Oct 12, 2014 4:34pm
Quoting Sesamstrasse
Finally 23 Choros pips today.. + 23 + 20 - 20 Cable . I took the signal in m15 .. expected a strong move down...... http://www.forexfactory.com/showthre...44#post7792644 ... unexpected I closed my orders in profit, but feels like the market owes me 50 pips . Nice weekend to all Guido {image}
Nice call for this m15/touch gu Sesam , I saw it at choros interactive but
scare with cable. Very sneaky pair for me.....
  • #11,568
  • Oct 14, 2014 1:40am Oct 14, 2014 1:40am
First two trades of the week.

First week with some adjustments to the strategy. So no "dancing" on mondays and no positions before london open (and preferably not until 10 o clock).

The EURJPY trade stopped me out early, wich is dissapointing since it fell oven on the very same bar that took me out. But that is life.
Maybe I should have had stops higher so I was above the even number and previous support, but i dont like having my stops larger than 10 pips. Also I belived it was just doing a pullback before testing whole nr witch it eventually did, but the pullback was bigger than I anticipated. -10 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 20141014_EURJPY.jpg Size: 144 KB


But never be upset. Getting stopped out allowed me to take a trade straight away in GBPUSD. It is not a true "touch trade" but it was a decent pullback to round number and IF it drops I now from experiance it can "become" a touch. Also liked the close below round number.
Scaled out 2/3 of position for 15 pips. took a little more of at 25 pips just before news and let the last little bit ride for a 50+ pips. (so average was about 35+ pips).

Attached Image (click to enlarge)
Click to Enlarge Name: 20141014_GBPUSD.jpg Size: 111 KB


According to my rules I am done for today. And I'll write that here so that I follow them. Now you can hold me accountable if I post new trades

Have a great day all.
  • #11,569
  • Edited 6:12am Oct 14, 2014 2:28am | Edited 6:12am
Quoting Intense
First two trades of the week. First week with some adjustments to the strategy. So no "dancing" on mondays and no positions before london open (and preferably not until 10 o clock). The EURJPY trade stopped me out early, wich is dissapointing since it fell oven on the very same bar that took me out. But that is life. Maybe I should have had stops higher so I was above the even number and previous support, but i dont like having my stops larger than 10 pips. Also I belived it was just doing a pullback before testing whole nr witch it eventually did,...

No mondays before 10 .. I do the same !
I got fu..ed a couple of times with the FOFO ( starts here at 9 oīclock ) , so my earliest entry is 930.. never before !
Mondays are very often a little slow , so I take one day off in Choros very often , no need to trade every day.
Looks like you have a plan , keep pippin .
Guido
Risiko birgt immer auch die Chance.
  • #11,570
  • Edited 1:12am Oct 16, 2014 1:00am | Edited 1:12am
Damn , was I pissed yesterday !!
Cable m15 , one straight bar to touch my 10 Ema ..
I had a " pending " exactly at the touch in tripple lotsize ... when that big run was forming ..
Price took my entry .. but : TOOK MY STOP .... a little below the monthly pivot .

-14 pips with a tripple size ... so count as - 42 pips ..not nice
and of course after hitting my stop it ran 18 pips .. ( enough for my TP )

But the intresting thing is :
Vola is coming back
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png 16.10..png Size: 39 KB
Risiko birgt immer auch die Chance.
  • #11,571
  • Oct 16, 2014 1:14am Oct 16, 2014 1:14am
Quoting Sesamstrasse
Damn , was I pissed yesterday !! Cable m15 , one straight bar to touch my 10 Ema .. I had a " pending " exactly at the touch in tripple lotsize ... when that big run was forming .. Price took my entry .. but : TOOK MY STOP .... a little below the monthly pivot . -14 pips with a tripple size ... fo count as - 42 pips ..not nice and of course after hitting my stop it ran 18 pips .. ( enough for my TP ) But the intresting thing is : Vola is coming back Guido {image}

Yes, yesterdays volatility was something else. It was so crazy my brokers servers crapped out and I was not able to trade my live account. MIssed a few good opportunities.

Hope everyone has a good day today.
  • #11,572
  • Edited 1:31am Oct 16, 2014 1:21am | Edited 1:31am
A few trades today (only pictures of one though)

Contrainment trade on EURUSD this morning should have given me 15+ pips since I usually dont trail my stops, but decided to try it this time. Ended up getting stopped out when it denied the previous bar. few pips profit is always a profit though. Gave some of it back immediatly on what was a bad touch trade though, so 3+ pips in total on EURUSD.

Entered this on AUDUSD a few moments ago. Touch of 10EMA

Update: Out for 17,5+ pips. Could probably have rode it further down. But I felt like I needed to bank my pips after missing out on my 15 pips in EURUSD. I needed to stroke the psychology a bit


Attached Image (click to enlarge)
Click to Enlarge Name: 20141016_AUDUSD.jpg Size: 142 KB
  • #11,573
  • Oct 16, 2014 1:30am Oct 16, 2014 1:30am
Quoting Intense
A few trades today (only pictures of one though) Contrainment trade on EURUSD this morning should have given me 15+ pips since I usually dont trail my stops, but decided to try it this time. Ended up getting stopped out when it denied the previous bar. few pips profit is always a profit though. Gave some of it back immediatly on what was a bad touch trade though, so 3+ pips in total on EURUSD. Entered this on AUDUSD a few moments ago. Touch of 10EMA {image}
a second touch ^^
First touches are the bettser ones..
and a little above the next round number ?
Youīre a lucky winner , but this entry wasnīt that good .
too risky for my taste -
Guido
Risiko birgt immer auch die Chance.
  • #11,574
  • Oct 16, 2014 2:30am Oct 16, 2014 2:30am
I've been making some steady progress this week. Much more disciplined and patient with total focus being given to the market and hence no posts. Thanks to those that gave me advice over the last week as it appears to be working.

I'll be back in a couple of weeks once I'm able to sustain the consistency.

Happy trading everyone.
  • #11,575
  • Oct 16, 2014 3:29am Oct 16, 2014 3:29am
EA m15 gave me my 15 pips .. ( bounce 35/50 ) + confluence round number ....
... on volatile ,markets itīs soooo nice to catch some easy pips .
Guido
Risiko birgt immer auch die Chance.
  • #11,576
  • Oct 16, 2014 4:00am Oct 16, 2014 4:00am
Quoting Sesamstrasse
{quote} a second touch ^^ First touches are the bettser ones.. and a little above the next round number ? Youīre a lucky winner , but this entry wasnīt that good . too risky for my taste - Guido
I absolutley agree. First touches are safer. However, I do have certain rules of engagement that allow second touches that often give the desired result. So far in backtesting and live they have given me good enough results to trade. Still testing it out though.

I also had my reasons to ignore the round nr in this case from a technical perspective (trendline break on H1).
But given all of my reasons not being strictly choros, I realise now I probably should not have posted that trade since it is counter intuitive for learning purposes.

I will make sure to try and keep my posts "Pure" from now on. I tend to get muddled up since choros is not my main trading style (yet )
  • #11,577
  • Oct 16, 2014 4:03am Oct 16, 2014 4:03am
Quoting Sesamstrasse
EA m15 gave me my 15 pips .. ( bounce 35/50 ) + confluence round number .... ... on volatile ,markets itīs soooo nice to catch some easy pips . Guido

Guido, if i can ask. Would you have taken that trade if there wasnt a round number? Since it is a three bar pullback I was wondering if the round number was the "tie breaker" in deciding to take the trade
  • #11,578
  • Oct 16, 2014 4:03am Oct 16, 2014 4:03am
Quoting grantyboy
I've been making some steady progress this week. Much more disciplined and patient with total focus being given to the market and hence no posts. Thanks to those that gave me advice over the last week as it appears to be working. I'll be back in a couple of weeks once I'm able to sustain the consistency. Happy trading everyone.
Glad to hear that granty.

Keep working hard!
  • #11,579
  • Edited 10:12am Oct 16, 2014 6:05am | Edited 10:12am
Quoting Intense
{quote} Guido, if i can ask. Would you have taken that trade if there wasnt a round number? Since it is a three bar pullback I was wondering if the round number was the "tie breaker" in deciding to take the trade
No , I hadnīt taken it ,

the reason is :
Around 2 of three trades works when Iīm picky...
and only when Iīm picky !!!!

that means for me :
Only first touches , only steep angles .. without trading against a higher timeframeīs MA .. enough space to reach the target.. and so on ...
Like a checklist !
If not 99% of my checklist matches , I let it run without me.
There may better traders be here in this forum , but end of day / week it only counts profit or not .
Everytime Iīm not that picky .. my ratio goes to 50/50 or even worse..
Iīm not sitting for free next to my screen , I expect some " extra $ " !
Thatīs the reason to try as strictly as possible with my entries.
Tradinglessons are for me like " filtering " the bad opportunities out of my view.

For example :
I got tricked a couple of times with the FOFO .. , so I count it like news .. no trading 30 min after.. and before Iīm just not on my screen ..
also the reason to enter earliest 30 min after the news..
I find the best touch trades in a 15 min chart 45-120 minutes after high impact news..
so itīs no reason to watch the price during the first 30 minutes for me .
This is my personal experience and must not fit to others..
I remember the member makonen showed a nice m5 catch last week closer to the news..
You must look what fits to you ..
For me fits M15 to H1 , but I really hate the h4 timeframe with this kind of trading.
In another system I love the H4 , because I donīt need to watch the chart all the time..
only at a new candle open ..

Dancing is a wonderful kind to catch pips after breakout or in a constrainment..
I really can recomment it it works.
But forcing trades.. second touches.. jump on trades too late can be very expensive!!

Hope that helped to filter some bad trades out .
Guido
Risiko birgt immer auch die Chance.
  • #11,580
  • Oct 17, 2014 7:27am Oct 17, 2014 7:27am
Quoting Sesamstrasse
Damn , was I pissed yesterday !! Cable m15 , one straight bar to touch my 10 Ema .. I had a " pending " exactly at the touch in tripple lotsize ... when that big run was forming .. Price took my entry .. but : TOOK MY STOP .... a little below the monthly pivot . -14 pips with a tripple size ... so count as - 42 pips ..not nice and of course after hitting my stop it ran 18 pips .. ( enough for my TP ) But the intresting thing is : Vola is coming back Guido {image}
and 48 hours later Iīm green again ..
First touch 10 ema EJ m15 .. 28 pips ..
Finally + 5 pips this week ..
There were much better weeks and much better weeks will come .
Nice weekend to all !
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png 17.10..png Size: 37 KB
Risiko birgt immer auch die Chance.
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