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CHOROS System

  • #12,801
  • Aug 19, 2016 8:57am Aug 19, 2016 8:57am
Not a first touch but nice confluence of round number ema 10 and swing highs few hours back creating support. unfortunately, was busy doing something else and missed it
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  • #12,802
  • Aug 24, 2016 7:27am Aug 24, 2016 7:27am
Bouncing from H1 35/50 confluenced with MP, DP, H4 10, can't ask for anything better..... (maybe I got out too early??)
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  • #12,803
  • Aug 24, 2016 10:30am Aug 24, 2016 10:30am
Quoting kostas1
Bouncing from H1 35/50 confluenced with MP, DP, H4 10, can't ask for anything better..... (maybe I got out too early??) {image}
Kostat, what is the red Moving Average on your chart? Thanks for answer, nice trade.
  • #12,804
  • Edited 2:08pm Aug 24, 2016 12:10pm | Edited 2:08pm
Quoting wellard
{quote} Kostat, what is the red Moving Average on your chart? Thanks for answer, nice trade.
The equivalent of H4 EMA10 (H1 EMA40)
  • #12,805
  • Aug 28, 2016 1:03am Aug 28, 2016 1:03am
So it's been some time till the thread was opened, are you still using it as your main strategy?If so what's your average growth per month/ year?
  • #12,806
  • Aug 29, 2016 11:18am Aug 29, 2016 11:18am
Quoting Rebyt
So it's been some time till the thread was opened, are you still using it as your main strategy?If so what's your average growth per month/ year?
Currently, relaxing with my boat.....
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  • #12,807
  • Aug 31, 2016 7:53am Aug 31, 2016 7:53am
I was long at what I thought was a key area:
- Round number
- Previous day high
- 1h 10 EMA
- 15 min 35 SMA

Price hit my stop loss and moved 30 pips in a few minutes... Oh my...

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  • #12,808
  • Aug 31, 2016 7:56am Aug 31, 2016 7:56am
Here is what happened after price hit my stop loss:
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  • #12,809
  • Aug 31, 2016 9:52am Aug 31, 2016 9:52am
I'd suggest you use a larger stop loss next time, especially for pairs with large spread and high volatility. By the looks of it your stop loss was about 10 pips and it was just above the 15min 50EMA. I would have risked a couple more pips and moved it below the 50EMA.
  • #12,810
  • Sep 2, 2016 4:49am Sep 2, 2016 4:49am
EURJPY, bought at supposed key level...

RN
Previous day high
1h 10 EMA
15 min 35 SMA

Stop below Pivot

Target at upper round number
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  • #12,811
  • Sep 2, 2016 5:17am Sep 2, 2016 5:17am
EURJPY moved up a little bit and I moved SL just below the last closed candle, for mitigating loss. (5 pips SL now)
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  • #12,812
  • Sep 2, 2016 6:10am Sep 2, 2016 6:10am
EURJPY update:
I have to leave, I moved SL to BE +1 and target at next Pivot Point.
Let's see what happens...
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  • #12,813
  • Sep 3, 2016 5:51am Sep 3, 2016 5:51am
I very rarely look at my mailbox anymore, but I keep finding requests for paid advice. Guys, keep your money and focus on what's in here. Everything you need is in the thread. Several people seem to have figured it out, so you can do it too!

"Hi Kostas,

Are you still having consistent results with Choros? YES

If yes, would you consider mentoring? NO

I am willing to pay 50 dollars per hour. Use it to start your account!

Thanks! No problem."
  • #12,814
  • Sep 4, 2016 4:10am Sep 4, 2016 4:10am
Quoting kef2138
I'd suggest you use a larger stop loss next time, especially for pairs with large spread and high volatility. By the looks of it your stop loss was about 10 pips and it was just above the 15min 50EMA. I would have risked a couple more pips and moved it below the 50EMA.
Thanks mate for your answer, I will keep in mind those observations!

I'm willing to make consistent results with this strategy.
  • #12,815
  • Sep 5, 2016 2:19am Sep 5, 2016 2:19am
GBPJPY

It was a late entry, just below round number, but near 10 EMA touch.
Now, looking back the best entry would be the 5 min 50 EMA touch / shaven head.
Target at lower round number.

For now, please ignore the MACD, it was not used to evaluate this trade. I'm still have this old habit of using it...
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  • #12,816
  • Sep 5, 2016 3:29am Sep 5, 2016 3:29am
Quoting Eagle Trader
GBPJPY It was a late entry, just below round number, but near 10 EMA touch. Now, looking back the best entry would be the 5 min 50 EMA touch / shaven head. Target at lower round number. For now, please ignore the MACD, it was not used to evaluate this trade. I'm still have this old habit of using it... {image} {image}
.. I like the trade
... basicly a very good observation IMO ...

.. A really nice m5 / 50 and M15 / 50 bounce...

and enough space in the H1 between 35 and 50 to get your TP..
... couldn t do it better

Guido
Risiko birgt immer auch die Chance.
  • #12,817
  • Sep 5, 2016 4:09am Sep 5, 2016 4:09am
Quoting Sesamstrasse
{quote} .. I like the trade ... basicly a very good observation IMO ... .. A really nice m5 / 50 and M15 / 50 bounce... and enough space in the H1 between 35 and 50 to get your TP.. ... couldn t do it better Guido
Plus the daily pivot point that acted as support earlier but was broken and was then re-tested
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  • #12,818
  • Sep 6, 2016 2:23am Sep 6, 2016 2:23am
Thanks Sesamstrasse and kef2138 for your observations. I really appreciate your feedbacks.

Here is my attempt to enter the market, but GBPAUD moved without touching my entry by a few pips:

The entry was based on a confluence of key area:
Previous day low
35 SMA on top of 1h 10 EMA (at the time it was on top of each other, then, price moved and it started to fall appart)

Notice also that 1h chart was NOT touching 10 EMA. Price moved down and moved the 10 EMA to make it touch the candle.
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  • #12,819
  • Sep 6, 2016 6:11am Sep 6, 2016 6:11am
I tried GBPUSD:

Key area:
Support
35 SMA
50 EMA
1h 10 EMA

My target was at Pivot, it almost hit it. But price went back and I did not have patience, so I closed with 4 pips...

I am considering now closing the trades anywhere between 10 to 15 pips profit next time.
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  • #12,820
  • Sep 6, 2016 6:23am Sep 6, 2016 6:23am
Quoting Eagle Trader
I tried GBPUSD: Key area: Support 35 SMA 50 EMA 1h 10 EMA My target was at Pivot, it almost hit it. But price went back and I did not have patience, so I closed with 4 pips... I am considering now closing the trades anywhere between 10 to 15 pips profit next time. {image} {image} {image}
I am still in this one with the hope of retesting last month's high (1.3371)....

EDIT: If it stalls at DR1 I may get out. Your target to grab 10-15 per trade is close to my approach (15-20p)
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