CHOROS System

hello dancers,

have time unpublished But always aware of the thread,

gbpusd 15min 10ema

Well, I've been struggling this week by taking too many trades - and many of them not so nice (lots of red pips ). I feel bad posting most of them because after I analyzed them, I wasn't being very smart. Some examples of my bad behavior:
-Overtraded
-Chased trades
-Got nervous and closed trades early, even though I had a strong plan, and then watched them head to original TP levels
-Traded completely outside of the Choros rules

BUT all of the trades I took that were good Choros setups were profitable. I am still working on talking down the little devil on my shoulder.

I like these words, because if I had followed them this week I would be in green instead of red: "Plan your trade, and trade your plan"

So, my homework for the weekend is to read/reread clay and kosta's posts as well as some personal development. Study charts and run the simulator. AND to relax and forget about the past... hah.

This was my happiest trade today:

EU 35/50 confluence with H1 EMA10 touch - traded down towards RN resistance at 1.1250, but was shooting for profit in the two previous long wick M15 candles (circled)

Made it up to +30, but closed when pulling back on M5 for +20 pips and a smile



Hope you all had a great trading week and have a happy relaxing weekend!

Sam

Nice trade Sam. I had same issues this week. I will setup another account and any undisciplined trades, even those that are so-so, but not 100% by the rules will go straight in there. That way although they still will get executed at least they will be separated from the proper ones.

Perfect entry, my first and only trade this week, confluence with WP, confirmed by the two pin bars short after. Didn't like the range afterwards, but eventually I did wait it out and reached my planned TP @27.

Second trade this week. Entered after small pin bar just to find out even better one (more of a pinbar-spinning top), with better R:R after a couple of bars. Followed the rules 100%, it turned out well but not superb after all. Happy with what I got though, 16 pips, 2pips before my initial TP taken on hesitation. It would get easily hit if left alone. The market turned against me short after closing the position, went up just near my previous SL and then blast through all the support anyway. +43 pips on those 2 trades this week. Discipline, discipline, discipline. In the FX, like location, location, location in real estate

Trade for today: 15 minute 10EMA touch (actual touch). Shown with arrow.
StopLoss: 10 pips
TakeProfit: 25 pips (at round number)
Thanks Kostas and all.
P:S I'm trading on MT4 mobile.

Weren't the 35/50 a bit too flat and 1hr 35/50 just below? Nevertheless, well done for your green pips on this trade.

Yep .. too flat for my taste .. and the 35 was above the 50 ema..
But see the bigger pic .. h4 and d1 is a nice down with a touch before ..
Excellent trade with the bigger timeframes --

In the end it Counts only " profitable or not"
Congrats Wahnone .. nice trade #
Guido

Sesametrade, Jkdt...thanks for the comment on the trade. Steadily building my account back. Quick question: I have been trading only actual touch trades according to the rules but i miss the near-touch rades.
1. Question is that are the near-touch trades worth taking?
2. On the long run, does the success rate decrease on near touch trades?

As closer you get the touch to your MA , as thighten is your SL.
Very often I hunt touches with a pending order .. and you won t believe it ..
Very often the market turns back in trend direction with about 0.2 pips missing my pending..
You just have to try what suits to you . I think it´s worth it to take them 1..2..3 pips earlier
The rules are fix with it enough space as Long as your SL isn t too large then .
Green pips Guido

1) You will trade more often but at the same time your success rate will decrease - near touches will hit your SL more often as it will be lower for shorts and higher for longs and you risk the price will reverse on you from time to time where as with the solid touches it would manage to hit TP.

OR

2) Due to making your R:R worse you will lose more and gain less - SL will have to be larger by those 2-3 pips and TP will be smaller.

I am staying out of those trades as there are sufficient proper touches. But this is just my opinion and Guido has more experience in those setups. Something in the middle though would be looking for some PA confirmation on M5 after a near touch - that's something I would trade from time to time.

All the best to you all.

My 3rd and 4rth. As per rules - done for the day after both turned losers at 2x16 pips EJ 35/50 were not steep enough, but on top of each other and at the time of taking the trade I thought they were ok. The large RN just above additionally clouded my judgement. GU was a bit of a disappointment, but that's how markets work. 35/50 was a tiny bit too far from eachother, but decided to trade it. Left with 11 pips only for the week. Despite the poor result I have a sense of discipline that should turn things around in the long run. Still 2 days to go to make it right this week.

All the best,
JK

PS> Would you take 2 positions on different pairs simultaneously? Or would you just focus on the one you liked more?

Two trades today on GU.

Trade 1: 15 Minute 50EMA sell (down arrow)
SL: 12 pips
TP: 25 pips. Profit got hit during news spike.

Trade 2: 15 Minute 35SMA buy (up arrow)
SL: 12 pips
TP: 25 pips. Missed by 0.05 points. Exited with +18.

Trades for today:

Trade 1: 15 Minute 50EMA sell (down arrow) EurJpy
SL: 12 pips
TP: 25 pips. (TP hit)
Drawdown: -6

Trade 2: 15 Minute 50EMA sell (down arrow) GbpUsd
SL: 12 pips
TP: 25 pips. (Got to +18...exited with +5)
Drawdown: -10

Flat 35/50 lines, be patient until you get some trend....

Thanks for the advice, Kostas. Only took those trades cos i noticed that the 35/50 act as strong barrier to price when they are very close together. In this case, they were separated with just about a pip. Entered in the direction of the trend P:S: Hope you got my PM

Answer to your PM in this thread....

Kostas, on the other hand, are constranments ok to trade even if there is no 35/50 slope?

I am no good at constrainments, only have tried very few. But there should be some slope to hint you which direction to trade....

But havent I seen you trading 35/50 flat? Wasnt that some stuff that comes with experience? Or i am mistaken and havent really seen you trading flat?