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CHOROS System

  • #12,341
  • Feb 4, 2016 8:55am Feb 4, 2016 8:55am
Quoting That guy
Excellect opportunity today in GBPUSD. Strong descend into untested H1 35/50 with an untested daily pivot point as confluence. The weaker 50 round number as additional bonus. 35 and 50 already diverging and at some point I thought it might try to get to the 1.4500 big round number. Still, it does not get much better than this. Several very strong reactions off this confluence, almost no drawdown. Caught the first one (a bit too late) without candle confirmation, the second touch with M1 confirmation. I would not have traded this without the push...
hello dancers,

I take this opportunity 4h 10 ema , happy trading gbpusd
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  • #12,342
  • Feb 4, 2016 9:54am Feb 4, 2016 9:54am
Hi,

newbie here...which scripts work the best? I do seem to have trouble getting them to work on my Metatrader 4 demo account. I've tried the original ones and some others posted here in the thread. The account works with 5 digits. Below I have attached an image showing my settings. Maybe someone could be so kind and tell me what I am missing. Thanks for the help in advance.

Cheers
E
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  • #12,343
  • Feb 4, 2016 9:56am Feb 4, 2016 9:56am
Wrong image . Here is the correct one...
Attached Image
  • #12,344
  • Feb 4, 2016 11:26am Feb 4, 2016 11:26am
Welcome. Try unchecking the 3 Disable... options, ie. 2nd, 3rd, 4th option.
  • #12,345
  • Edited 5:20am Feb 5, 2016 3:36am | Edited 5:20am
Hello Dancers,

Nice beginning of the day. Trade just from now, a late 10 touch entry that also became an early 10 PA. 35/50 parallel and steep, first 10 touch, HTFs ok, especially like the daily spinning top at 35/50 sign of a possible main trend continuation. 5M, which I didn't attach, was much in my favour. SL 13 pips + spread, just above the small RN. During half hour trade confirmed by the spinning top and a pin following on 15. TP was 30 pips but took it out on hesitation @25.
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  • #12,346
  • Feb 5, 2016 3:42am Feb 5, 2016 3:42am
Tried that... doesn't change much. I guess I'll keep trying, something will work eventually. Somehow I can access all the scripts and change them, I just can't use them on the charts.
  • #12,347
  • Edited 5:22am Feb 5, 2016 4:39am | Edited 5:22am
Reentered just now on 2nd 10MA touch, 16 SL, 30 TP and failed.

But in a while I have reentered for my last trade this week - on a 35/50 touch (which I don't like trading, but...) with confluence with RN, SL 14+spread. The price also quickly formed a double pinbar top, which looked like a great confirmation. Targeted DS1 @27 pips and got what I came for. Nice end of the week for a net of 35 pips for the day. Have a good weekend to you all.

JK

PS> About taking profits early: it is a personal thing, but I have developed a tendency to shut down my trades early if they nearly reached their target (RN and DP are great) but starts to hesitate too long, lets say ~5 pips away. Although the old saying says "let your profits run" I think that it hurts more to see the price turn back and eat your unsettled profits if you don't shut it, than to watch it continue right direction without you if you do. Additionally, even if it does run your direction it sometimes takes a lot more time, which is an extra disadvantage for me. It only applies to trades with positive final R:R, which you can't go wrong with after all It also goes well with what is written in the manual, that consistency is more important than huge pips.
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  • #12,348
  • Feb 5, 2016 4:44am Feb 5, 2016 4:44am
Quoting Elmo93
Tried that... doesn't change much. I guess I'll keep trying, something will work eventually. Somehow I can access all the scripts and change them, I just can't use them on the charts.
Hey Elmo.. and a nice welcome .. I don t get you .. for what do you need a script? All you need is a 10 ema.. 35 sma and 50 ema.. That s it.. every tradingstation can show that .. Good luck and green pips..Guido
Risiko birgt immer auch die Chance.
  • #12,349
  • Feb 5, 2016 4:44am Feb 5, 2016 4:44am
Quoting Elmo93
Tried that... doesn't change much. I guess I'll keep trying, something will work eventually. Somehow I can access all the scripts and change them, I just can't use them on the charts.
Did you download them in .ex4 or .mq4? If .mq4 try to open them (right click in MT4 & select modify) and clicking compile - when I had trouble with them it worked for me.

Guido: he means scripts like buy and sell with predefined SL and TP, which is a big ease for trading.
Elmo: even if we won't be able to help, keep on trying or asking somewhere else - it's worth it. Setting up all your trades manually is iritating & waste of time.
  • #12,350
  • Feb 5, 2016 6:55am Feb 5, 2016 6:55am
Quote
Did you download them in .ex4 or .mq4?
I downloaded them in .ex4 format.
Quote
even if we won't be able to help, keep on trying or asking somewhere else - it's worth it. Setting up all your trades manually is iritating & waste of time.
I will try that, thanks JKdt.

@Guido Thanks for the warm welcome. I traded the demo account manually before and it was annoying, so I figured I'll give the buy and sell scripts a try. They seemed super useful to me reading the manual.
  • #12,351
  • Feb 5, 2016 10:24am Feb 5, 2016 10:24am
Hello Dancers!

I have been reading and bouncing around a lot. Trying a lot of things while still working on my Choros trading, because I really like the simplicity, just have been struggling with my discipline and psychology. Also I re-evaluated my Choros watch list to have more high ATR pairs with reasonable spreads. I think the ATR:spread ratio is whats important (for me anyway) to capture strong movers but still be able to make a profit off of bounces. Of course you have to tune R:R and lot size to match your needs. Anyway - had a nice day with Choros today!

Couple of grabs during the US market hours this morning:

GU - +13 pips on a EMA 10 bounce close to the 1.4500 level - small grab, but every little bit counts

UCad - +32 pips on EMA 10 bounce at 1.3800 level - closed just below 1.3850, but could have had even more!!

But I am happy - as it says in the manual, we don't need the whole move, just our little slice of the market. Done for the day, done for the week...

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I plan to start posting more to help with my trading - i think I can do better if I know people are watching me. Is it better for me to post them here or in the Choros interactive thread?

hope everyone had a good trading week. Happy Weekend!
Remember that guy who gave up? Neither does anyone else.
  • #12,352
  • Feb 5, 2016 12:56pm Feb 5, 2016 12:56pm
Nice moves Sagramore. What other pairs do you trade based on your selection method?

Guys, I didn't trade it although I had seen it forming... (had to leave the desk literally 3 mins before it took place and besides I was supposed to be done for the day). That's one of the most beautiful touch setups that I have seen in many days... 15M 35/50 steep & nearly on top, and confluence of 4 resistance factors: 10MA, RN, WP & DS1. 2 bar quick retracement and literally no noise nor clutter on the chart. Quickly confirmed by pinbar. That's a black swan I should print and put on the wall HTFs ok, I may not have liked the daily 10MA just below - maybe it was the reason for the move not being that strong after all, you never know. Good for 23pips - i.e. last swing, which is my preferred TP if next RN or pivots are further away.
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  • #12,353
  • Edited 4:46pm Feb 5, 2016 3:47pm | Edited 4:46pm
Quoting Sagramor
Hello Dancers! I have been reading and bouncing around a lot. Trying a lot of things while still working on my Choros trading, because I really like the simplicity, just have been struggling with my discipline and psychology. Also I re-evaluated my Choros watch list to have more high ATR pairs with reasonable spreads. I think the ATR:spread ratio is whats important (for me anyway) to capture strong movers but still be able to make a profit off of bounces. Of course you have to tune R:R and lot size to match your needs. Anyway - had a nice day with...
Hey Sam .. nice trading:-) ... good to see you posting ..Green pipsGuido
Risiko birgt immer auch die Chance.
  • #12,354
  • Feb 5, 2016 4:25pm Feb 5, 2016 4:25pm
Quoting Jkdt
Nice moves Sagramore. What other pairs do you trade based on your selection method? Guys, I didn't trade it although I had seen it forming... (had to leave the desk literally 3 mins before it took place and besides I was supposed to be done for the day). That's one of the most beautiful touch setups that I have seen in many days... 15M 35/50 steep & nearly on top, and confluence of 4 resistance factors: 10MA, RN, WP & DS1. 2 bar quick retracement and literally no noise nor clutter on the chart. Quickly confirmed by pinbar. That's a black swan I...
Hey Jkdt,

Well I just created a new watch list that is really quite long, so i still need to filter it out a bit based on my brokers spread during my trading times (US open) and to make sure the pairs are moving during that time.

I have always liked the EU and GU and have focused on them for a long time, but only 2 pairs doesn't offer a lot of setups, especially if you sleep through the European market hours like I do. UCad has been really moving lately, so I like that one. I keep my eye on GCad and GA as well, but for me the spreads can m=be high, so need to make sure it will have a large enough move to make it worthwhile. JPY pairs can be good too, as they seem to trend a lot, but sometimes i think the yen pullbacks are too shallow for me to jump on.

I will let you know when I trim it down to a manageable number - I don't like to flip between too many pairs, so I'd like to get it down to four to six or so, but we'll see. But for this system, I think it is safe to say that each pair has its own personality, so jumping on pairs in a watchlist blindly can be dangerous -- at least it has been for me in the past haha!

Happy weekend!

Sam
Remember that guy who gave up? Neither does anyone else.
  • #12,355
  • Feb 6, 2016 9:35am Feb 6, 2016 9:35am
Hi, it's me again. Finally found the error . Unfortunately, I have no idea how to solve it. Below I have attached an image of the journal entries in my Metatrader 4 account when I open a script. It seems like the scripts are automatically removed when I open them on a chart (the pre-installed scripts work fine though). Did anyone here face a similar problem? If so, would you be so kind and share your solution with me? Alternatively, does anybody know someone who could help me with my particular issue?

A nice Saturday to everyone.

Regards
E
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  • #12,356
  • Feb 6, 2016 1:22pm Feb 6, 2016 1:22pm
Unfortunatelly, this is NOT the solution to your problem. This is not an error message, this is the way scripts work. You drag them on the chart, they get executed and then removed FROM THE CHART. Only EA stay on the chart and probably don't leave this kind of message. Sorry, but you need to look somewhere else. Try to uninstall the MT4, remove all the files (incl. scripts) from C:\Users\[USERNAME]\AppData\Roaming\MetaQuotes\Terminal\

Install the newest version of MT4, make sure you place the scripts in the right directory and see if it helps.
  • #12,357
  • Feb 8, 2016 2:12am Feb 8, 2016 2:12am
Hello all...This strategy is awesome once you get the hang of it. One question. Has anyone tried trading with it solely on 1 hour or 4 hour charts? My job can't allow me trade 15 minute charts, so wanna know if anyone has tried trading it solely on 1hour our 4 hour chartts.
  • #12,358
  • Feb 8, 2016 3:24am Feb 8, 2016 3:24am
Quoting Wahnone
Hello all...This strategy is awesome once you get the hang of it. One question. Has anyone tried trading with it solely on 1 hour or 4 hour charts? My job can't allow me trade 15 minute charts, so wanna know if anyone has tried trading it solely on 1hour our 4 hour chartts.
Hello .Sure :-) .. it s all in the thread .. Guido
Risiko birgt immer auch die Chance.
  • #12,359
  • Feb 8, 2016 10:42am Feb 8, 2016 10:42am
One good dance trade today short on UJ short off the EMA 10 and RN confluence +21 pips and good have kept riding! Jumped out because price hesitated and then watched it take off ... but I thought 21 pips was good for a Monday.

Until I got greedy and took some bad signals a little later. Ended the day in green, but need to work on my greed a bit. Should have been done after my first UJ trade!

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Happy Monday!

Sam
Remember that guy who gave up? Neither does anyone else.
  • #12,360
  • Feb 8, 2016 10:50am Feb 8, 2016 10:50am
Quoting Jkdt
What other pairs do you trade based on your selection method?
Also, quick update Jkdt...

I narrowed my list a bit today and here are my current likeable pairs that like to move during US market:

GU
EU
UCad
GCad
GA
GJ
EJ
UJ

Not necessarily in order of preference. I also use smaller lots and larger stops on a couple of the pairs like GJ, GCad, etc.. for the big movers - I mostly just try to keep my risk and lot size proportional to spread and movement. Im not anywhere close to an expert, but am starting to get a feel for what seems about right.

Anybody else have a favorite watch list right now? Calble has been a staple of the dance from the beginning i know... Guido- I think you did really well on the GA last year?!?!

Sam
Remember that guy who gave up? Neither does anyone else.
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