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CHOROS System

  • #12,901
  • Nov 25, 2016 9:56am Nov 25, 2016 9:56am
One more from EURGBP H1
Attached Image (click to enlarge)
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You are allowed to fall but you are imposed to get up!
  • #12,902
  • Nov 28, 2016 2:35am Nov 28, 2016 2:35am
Quoting iero4
Here is a scary one from today. USDJPY M5 50 + price action. Closed manualy at + 13 because price hesitated . {image}
Hi iero4, thanks for your live examples. May I ask, what was your initial SL on the UJ M5 trade - was it a fixed amount of pips or did you set it above some other levels (e.g. M15/H1 MAs); and how did you plan to manage it - would you let the price go to the predefined SL or would you consider closing it manually, and if so, where would you close it then? Thank you in advance for your reply.
Everything is possible
  • #12,903
  • Nov 29, 2016 2:06am Nov 29, 2016 2:06am
I initialy placed the SL just above the pin bar but when I saw price going against me, I put it 20 pips above my entry point. I hope it helps you...
You are allowed to fall but you are imposed to get up!
  • #12,904
  • Dec 7, 2016 3:55am Dec 7, 2016 3:55am
Hello friends. It's been a while. Hope y'all making greens in this market. These are my trades for today.
1: GU Price Action Sell Setup: Exited at 2xSL for +30pips
2. GU 10 Touch Sell: Entered based on 5min PA: Exited at RN for +30Pips.
3. NU 35/50 Touch Buy: Triggered with 5min PA. Exited at 1HR swing high for +20pips.
Attached Image(s) (click to enlarge)
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  • #12,905
  • Jan 9, 2017 10:53am Jan 9, 2017 10:53am
It's been a while since posting, so here is a "scoop-up" trade to think about.
Entry after crossing above MAs 10/35/50 and bouncing upwards from them. Exit at MP for near 40 pips.
Notice the double bottom before the scoop which is a hint that a scoop may happen....
I was surprised that it didn't check the confluence of WP, RN(1.0500), Daily S1 before going up (It may do that tomorrow?)
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  • #12,906
  • Jan 11, 2017 9:46am Jan 11, 2017 9:46am
And one more of the same kind (almost 50p on this)...
Exited at WP/DR2
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  • #12,907
  • Jan 12, 2017 1:12am Jan 12, 2017 1:12am
Quoting kostas1
And one more of the same kind (almost 50p on this)... Exited at WP/DR2 {image}
Great catches, Kostas! May I ask, do you still have the same average daily profit target approach as you mentioned earlier (around 15p) or have you moved to bigger profit targets?
Everything is possible
  • #12,908
  • Jan 12, 2017 2:47am Jan 12, 2017 2:47am
Quoting sasha.fx
{quote} Great catches, Kostas! May I ask, do you still have the same average daily profit target approach as you mentioned earlier (around 15p) or have you moved to bigger profit targets?
Same as before, mostly 15-25p. Generally, if I see a strong move and a clear target I will let the trade run for more. But if the price is hesitating or if it is noisy, I take the profit quickly.
The trades I posted above are not typical of my trading. My normal trades you already know,but these double-bottom scoops are different which is why I posted them.
  • #12,909
  • Jan 12, 2017 7:47am Jan 12, 2017 7:47am
Quoting kostas1
{quote} Same as before, mostly 15-25p. Generally, if I see a strong move and a clear target I will let the trade run for more. But if the price is hesitating or if it is noisy, I take the profit quickly. The trades I posted above are not typical of my trading. My normal trades you already know,but these double-bottom scoops are different which is why I posted them.
Kostas, do you watch correlations with closely correlated instruments (i.e. Canadian dollar - oil, Yen -US dollar, etc.) when deciding on entering into a trade? The Cad chart that you posted - when deciding on entering that trade - did you watch what other instruments were doing, if so, how important that aspect is in your decision-making overall?
Thank you.
  • #12,910
  • Jan 13, 2017 1:08am Jan 13, 2017 1:08am
Quoting MidnightRun
{quote} Kostas, do you watch correlations with closely correlated instruments (i.e. Canadian dollar - oil, Yen -US dollar, etc.) when deciding on entering into a trade? The Cad chart that you posted - when deciding on entering that trade - did you watch what other instruments were doing, if so, how important that aspect is in your decision-making overall? Thank you.
Not really man.
Maybe I am not clever enough but it seems to me that this is like the chicken-egg question:
Does oil go up first and USD/CAD fall or does USD/CAD falls first and oil goes up??
Since we are not first in line for this information and we just merely reacting to what the big players do, it's very difficult for me to deduct any useful information.
An additional reason is that this would add more parameters and I want to keep things as simple as possible.
  • #12,911
  • Jan 18, 2017 8:42am Jan 18, 2017 8:42am
This was mentioned before-hand in the Interactive thread
http://www.forexfactory.com/showthre...61#post9452061
and here is the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 42 KB
  • #12,912
  • Jan 18, 2017 12:36pm Jan 18, 2017 12:36pm
Hi Kostas1,
My name is also Kostas and i am also from Greece. I am new to forex, I have only a demo account, trying to learn and become profitable, before going live. I don't speak fluent English, so if it's posible, can you help me understanding the system in Greek?

Thank you very much.

Σε ευχαριστώ.
  • #12,913
  • Jan 18, 2017 12:50pm Jan 18, 2017 12:50pm
Quoting kostas1
This was mentioned before-hand in the Interactive thread http://www.forexfactory.com/showthre...61#post9452061 and here is the chart: GU.png;2145332 {image}
Hi, I've been lurking around this thread and this is my first post.

How do you decide on the sl size for GU, fixed number of pips or based on other measurement?
thinking outside the box
  • #12,914
  • Jan 19, 2017 12:33am Jan 19, 2017 12:33am
Quoting kostaspas7
Hi Kostas1, My name is also Kostas and i am also from Greece. I am new to forex, I have only a demo account, trying to learn and become profitable, before going live. I don't speak fluent English, so if it's posible, can you help me understanding the system in Greek? Thank you very much. Σε ευχαριστώ.
Hey buddy,
The system is easy, the execution is not...
You need to study this thread and the original Dance thread, play in demo and then come back with specific questions.
All these years the questions have been answered already many times....
  • #12,915
  • Jan 19, 2017 12:36am Jan 19, 2017 12:36am
Quoting Mercennary
{quote} Hi, I've been lurking around this thread and this is my first post. How do you decide on the sl size for GU, fixed number of pips or based on other measurement?
SL is usually below a significant number (MA, RN, Pivot, etc.)
SL depends on pair and noise (GBPJPY needs much bigger SL than EURUSD, when market is very noisy you also need bigger SL)
In the beginning try to use SL no bigger than 15 pips.
  • #12,916
  • Jan 19, 2017 2:37am Jan 19, 2017 2:37am
Quoting kostas1
{quote} SL is usually below a significant number (MA, RN, Pivot, etc.) SL depends on pair and noise (GBPJPY needs much bigger SL than EURUSD, when market is very noisy you also need bigger SL) In the beginning try to use SL no bigger than 15 pips.
Thanks man
thinking outside the box
  • #12,917
  • Jan 25, 2017 3:52am Jan 25, 2017 3:52am
One more scoop-up.
The confluence of DP, RN, H4 10 is usually strong (see how 5 bars bounced exactly there).
The best entry would have been exactly on the DP (1.2494) but to play it safe I waited for the scoop.
Exit at DR1.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 42 KB
  • #12,918
  • Jan 25, 2017 5:14am Jan 25, 2017 5:14am
Quoting kostas1
One more scoop-up. The confluence of DP, RN, H4 10 is usually strong (see how 5 bars bounced exactly there). The best entry would have been exactly on the DP (1.2494) but to play it safe I waited for the scoop. Exit at DR1. {image}
Nice, I entered on the first retrace to the M5 12, waited for the pin bar, +10pips.

If I could ask you a question regarding bounces from m5 12/23, do you take only the first bounces on each? I couldn't find the answer in the thread.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m5-fxopen-investments-inc-2.png Size: 31 KB
thinking outside the box
  • #12,919
  • Jan 25, 2017 5:27am Jan 25, 2017 5:27am
Quoting Mercennary
{quote} Nice, I entered on the first retrace to the M5 12, waited for the pin bar, +10pips. If I could ask you a question regarding bounces from m5 12/23, do you take only the first bounces on each? I couldn't find the answer in the thread. {image}
Very good entry/exit for the M5 trade.
Usually, the first entry is the best for 12. For the 23 I noticed that the second bounce is sometimes stronger.
It is good that you had the patience to wait for a good looking bar (pinbar) to enter, I also liked that you took your profit quickly at +10.
One more like that and call it a day...
  • #12,920
  • Jan 25, 2017 5:36am Jan 25, 2017 5:36am
Quoting kostas1
{quote} Very good entry/exit for the M5 trade. Usually, the first entry is the best for 12. For the 23 I noticed that the second bounce is sometimes stronger. It is good that you had the patience to wait for a good looking bar (pinbar) to enter, I also liked that you took your profit quickly at +10. One more like that and call it a day...
Thanks Sir
thinking outside the box
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