CHOROS System

I can only think of either trading higher TF (H1, H4) or scoop-ups, scoop-downs. In such cases I am not looking at M15 35/50. But these trades are not the basic ones.

Thanks for clarifying Kostas.

My 4 trades from today (for a total of 8 this week)

1) EJ - was taken at a touch, but because of it being a second touch and because of the pinbar afterwards I decided to shut it down at BE+1. Which was a mistake (looking from now) as my TP @RN 20 pips would have easily been reached. I didn't take the short pinbar in the yellow circle as the 35/50 still seemed to be flat before the trend got stronger and it was just above the DS1. It looked really nice afterwards though.

2) EU - Didn't like the daily price action with that first 10MA touch few bars earlier, but the candles afterwards looked bearish-scoupish didn't take it at the M15 10MA touch because it was a fake-touch AND there was double support just below. BUT when the PA confirmed it and also shut down just below the support, I got in. SL was 18 at first, which was a bit too large for my taste, but that's how the top of the wick came. Moved it quickly to 12 pips though and that's EXACTLY where it got me instead of moving to my TP @DS2 25 pips.

3) EU - I reentered on the next pinbar with SL just above it, targeted DS2 @27 pips, but luckily shut it down on hesitation @20. (Highlighted it yellow for better visibility on red candles)

4) GU - proper 1st touch, SL 16, TP hit @MP 22 and turned right back. Lucky but still nice and clean.

If you look closely on GU chart you will notice another short trade on the previous candle, but that was GU mistaken for EU on that first trade so I instantly shut it down for a spread loss of 2pips.

Total +29 pips for the day and +40 for the week seems not that much to me. But then, keeping up the daily average of 10 pips gives more than 200/month - does one need much more? Probably keeping it up should be my focus instead of aiming for bigger pip counts.

PS> Thanks for reading if anyone went through it all any advise is more than welcome. Green pips.

Trade for today:

1. GU 50EMA 15min touch trade (Sell)
TP: 25 pips
SL: 12 pips
Drawdown: -6pips
Exited at BE+2

2. EJ 50EMA 15min touch trade (Sell)
TP: 25pips
SL: 12pips
Drawdown: -5
TakeProfit hit at +25.

Hey Jkdt - I may not have taken your first and last trades... I like to obey the 2 bar rule. I've been bitten by not paying attention to it too many times. i personally like to consider it too many bars if price hesitates. Your last GU example is the better one for this case. While it only took 2 red bars to "get there"and touch the EMA10, there were 4 candles before that with small bodies and LONG wicks. That tells me that price has found its level for the day and may not want to try breaking it again. This doesn't always hold true, but I just personally try to stay out of those... but who cares, you watched it closely and made a profit!

That is a great profit for the week. The key is just seting goals and being consistent.

I try to shoot for 25-50 pips per day and I'm done. Usually I just stop at 25 and walk away. If I have already made 4 or 5 trades, and I only have a couple pips, I'll also walk away for the day because my brain gets too tired haha. Also, if I lose 2 trades in a row I have to stop for a bit and rethink what I am doing - and what the market is doing.

I like your GY trade more than your GU trade. 35/50 was very flat on the GU trade, I would have waited for them to show a trend to developing.

But you made a profit!

The past couple of weeks have been nice and consistent for me! keep up the good trading everyone!

and happy weekend!

Sam

Thats an interesting point of view. I'll have a closer eye for this aspect. Thanks for your answer Sam. Have a great weekend to you all. JK

Two trades today...target archieved with just one of them. I checked back through UsdCad and it is very well suited to Choros. Started trading it this week.

TRADE 1: USDCAD 35/50 sell
SL: 12pips
TP: 25pips
Daily target met at +25pips.

TRADE 2: EURJPY 10EMA sell
SL: 12pips
TP: 25pips
Got to +23 then reversed. Exited for +12

Hi Guys. I spent weekend on studying PA as I think about coming back to FX - will also study basic formations of James 16 plus will study Dance manual again even tho I've read it few times already. After nearly year of rest my brain got in proper tracks I think.
Please take a look at my trade of today:
entry in green circle area - first on green candle touching 10 ema and was wiped out, so I've opened another position as I've noticed it was false breakout, I opened 2 positions after being wiped. 1 h chart was confirming my move - inner candle that was pin down, same on 4h chart.
Exit in red circle as I wasn't entirely sure if the price will go below 1.54 level, as before it was rejected - 23 and 30 pips gained on this move.

Unfortunately I ignored "rectangle" formation - it was good point for entry but on 1h chart it looked to me that 1.1080 has been rejected twice so I did not open the trade - bit pity as it could give some nice profit

Yea.. wasn t on my screen .. really a nice one ..
.. exactly what I´m looking for ..

And here is nice example how previous support becomes current resistance on 1.54 area - Was too cautious to short it, but might be price will get back to 1.54 and then I'll take it.

Next one - triangle forming with price contraining at 10 ema - took only 10 pips, but hey, it's 1% profit, the way I see it now, it went more down, but you can't predict future ;-)

Hello everyone. I didn't take the trade due to those long wicks on daily just below that triangle. It eventually turned out nice but while it was happening it scared me off.

BTW> I was asking about it in the coding section with no result: does anyone know of a script that would focus the screen on the most recent bar BOTH on Y and X axis and would switch the chart to a fixed view of predefined amount of pips. I hope you know what I mean.

All the best. JK

I was always curious - what are those guys looking at? There is GBP chart (that looks like MT4, probably not GU though, looks different, they just said it's GBP), news, probably market depth and volume somewhere. What else is there? :nerd:

Steepness of the angles ... ....and to be honest .. I wouldn t believe everything what is shown on a video .. or can you imagine this guy shows all he has ? Bloomberg is a additional information .. and a retail stop level is also a good informatiob ..Both available .Guido

Only one trade so far today

GBPUSD 50EMA Touch Sell
SL: 12 pips
TP: 25pips
Profit hit within 10 minutes of execution.

Would have loved to be posting these trades live, but I'm trading from a mobile terminal and it's just not easy cos of the limited tools and the speed with which the market reacts after I'm in a trade.

Thanks Clay, Kostas and all you guys who have finallt made this worthwhile.

These guys are looking at some bullshit imo and I am not talking about the guy from film but about guys who have plenty monitors in general ;-)

Bestides remember: TVN lies

Gudio, what is retail stop?
EU: Lol

Two extra trades today...One loss, the other hit TP.

1. USDCAD 35SMA Touch Trade (Sell)
SL: 9pips
TP: 25pips
Stoploss hit for -9pips.

2. USDCAD 50EMA Touch Trade (Buy)
SL: 12pips
TP: 25pips
TakeProfit hit for +25.

Entered both trades with reduced lots cos of daily target hit earlier inthe day already.

Had 3 trades of similar type today (EU, GU, EJ), all profitable, but the best was on GU
I've seen strong trend down, and rectangle forming, so entry was at 1.3929, exit due to round number at 1.3899. It had potential to go down over 40 pips imo, but I'd rather to exit on round number. 5% earned with 49 pips all together on 3 trades.
Time for a training ;-)

First Trade today

• USDCAD 50EMA Touch Trade (Buy)
SL: 12pips
TP: 25pips
TakeProfit hit for +25.