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CHOROS System

  • #12,961
  • Feb 7, 2017 12:33pm Feb 7, 2017 12:33pm
Quoting sasha.fx
{quote} The main difference between a touch (or bounce) and a scoop is the trend direction of a trade. Touches and bounces are taken with the main trend (e.g. if it's a downtrend, like in your example, then the 10ema touch or bounce trade would be a short, so it could've been taken much earlier, when price went up to 10ema and bounced down, around 18-20 bars before your entry). The next touch (or bounce) short could have been taken at 35&50, 4-5 bars before your entry. Scoops are counter-trend trades, so they are taken "into" the 35/50 or against...
Thanks mate. This was a really good explanation. DanceTOC is something new for me, looks very interesting. Thanks again.

I hope you guys donīt mind me posting, Iīm just trying to learn, and it is a lot easier, if someone is commenting my actions/thoughts.
  • #12,962
  • Feb 7, 2017 1:19pm Feb 7, 2017 1:19pm
Quoting sandman1111
{quote} Thanks mate. This was a really good explanation. DanceTOC is something new for me, looks very interesting. Thanks again. I hope you guys dont mind me posting, Im just trying to learn, and it is a lot easier, if someone is commenting my actions/thoughts.
One more thing, if you don't mind I've seen many experienced dancers emphasizing that in the very beginning of your learning process it is best to focus only on one or max two main setups (e.g. only 10ema and/or 35&50 signals, or constrainments, etc.) on the main time-frame (M15) and master them first, ignoring all the other stuff. After you get a good understanding of the basics, it will be much easier for you to proceed to further details, fine-tuning your entries and exits, and more complicated setups.
Also, working with a simulator helps a lot in order to train the eye (it can be set up on MetaTrader, I'm not sure about the cTrader though; you can find the files in the attachments of the thread). If you have any questions, feel free to ask.
Everything is possible
  • #12,963
  • Feb 7, 2017 3:00pm Feb 7, 2017 3:00pm
Quoting sasha.fx
{quote} It looks like a scoop-up, not a touch trade. Have you read the manual? There are very good and thorough explanations with examples in it. Also, this thread and the original one are full of very useful and valuable information too Unless you did take it as a scoop-up setup, not a touch, in such case it was a proper and well taken trade {quote} Feeling kind of silly about such an early exit, especially seeing the price going 10 times higher (orange line is the equivalent of H4 200sma)... But keep on reminding myself that it is...
Nice trade, amazing how adaptive this strategy is, I took the 35/50 touch trade prior to the scoop-up, took 14pips and run...lol
thinking outside the box
  • #12,964
  • Feb 8, 2017 9:13am Feb 8, 2017 9:13am
Hello Dancers, re-post from my journal. Other than a spreading 35/50 and 2nd touch of the H4 10 is there any other reason you guys see for this failure?

EURUSD: Took a 2nd touch of H4 10 ma with H1 50, Daily Pivot and RN confluence, -17pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m15.jpg Size: 254 KB
thinking outside the box
  • #12,965
  • Feb 8, 2017 10:41am Feb 8, 2017 10:41am
Quoting Mercennary
Hello Dancers, re-post from my journal. Other than a spreading 35/50 and 2nd touch of the H4 10 is there any other reason you guys see for this failure? EURUSD: Took a 2nd touch of H4 10 ma with H1 50, Daily Pivot and RN confluence, -17pips {image}

Hey Mercennary...
Nice trading.. sometimes it just don t work ...

But what I see is a flat MA ...
Flat = no priceaction = I wouldn t trade it ..

Not sure, what it is .. a 200 Ema ???.., what means a 50 in H1 ..

Look at the chart, where the " 50 " is in origin .. ..
All the 3 MAs are seperated.. would you trade the touch in this case ??

Best for touches are in a " fluent market " , timing is important .. and make sure the MAs are steep and show a nice priceaction ..
When 35+50 tight together, and the 10 Ema is a bit seperated .. then happen cute touches ..


Confluences of Pivots and higher timeframe MAs .....sometimes it just don t work ... happens everybody ..
stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #12,966
  • Feb 8, 2017 12:15pm Feb 8, 2017 12:15pm
Quoting Sesamstrasse
{quote} Hey Mercennary... Nice trading.. sometimes it just don t work ... But what I see is a flat MA ... Flat = no priceaction = I wouldn t trade it .. Not sure, what it is .. a 200 Ema ???.., what means a 50 in H1 .. Look at the chart, where the " 50 " is in origin .. .. All the 3 MAs are seperated.. would you trade the touch in this case ?? Best for touches are in a " fluent market " , timing is important .. and make sure the MAs are steep and show a nice priceaction .. When 35+50 tight together, and the 10 Ema is a bit seperated .. then happen...
Hey Guido, the ma is the 160ema (H4 10ma equivalent), thanks for your answer Sir.
Luckily I managed to get back those -17 and some more on the GU first 10 touch minutes later

best regards
thinking outside the box
  • #12,967
  • Feb 8, 2017 12:24pm Feb 8, 2017 12:24pm
Hi guys, agree with you about flat and wide 35/50 on EU H1, skipped that setup due to this reason. But instead took a loss on a UJ M15 10ema trade later. It was a dead end right on 10ema, perfect entry would have been on the next bar open, so my entry was a bit late. However the main mistake was placing too small SL above the last high, could've placed it above M5 50ema or RN, but decided to make it tighter, so basically got stopped by a spread...
Attached Image
Everything is possible
  • #12,968
  • Feb 8, 2017 1:12pm Feb 8, 2017 1:12pm
Quoting Mercennary
{quote} Hey Guido, the ma is the 160ema (H4 10ma equivalent), best regards
aah a " 10 " okay..
Always good to have a MA of a higher tf in the " trend of the moment" chart ..

But look to the " original " H4 .. all the 3 MAīs are wide seperated .. , and a 1. touch already happened ..

I also like 1-2 MAīs of higher timeframes.. but before I enter , I make sure the original TF ( here the H4 ) looks nice to trade and all the MAīs give a tradable picture with a trend..

Hope that helps you a little step to avoid A+ trades and find AAAīs .. what needs a lot of patience .
Stay tuned
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcH4 8.2..png Size: 37 KB
Risiko birgt immer auch die Chance.
  • #12,969
  • Feb 8, 2017 1:19pm Feb 8, 2017 1:19pm
Quoting Sesamstrasse
{quote} aah a " 10 " okay.. Always good to have a MA of a higher tf in the " trend of the moment" chart .. But look to the " original " H4 .. all the 3 MAs are wide seperated .. , and a 1. touch already happened .. I also like 1-2 MAs of higher timeframes.. but before I enter , I make sure the original TF ( here the H4 ) looks nice to trade and all the MAs give a tradable picture with a trend.. Hope that helps you a little step to avoid A+ trades and find AAAs .. what needs a lot of patience . Stay tuned Guido {image}
I see your point Sir, and makes perfect sense, I'm taking a higher TF signal on my trade of the moment chart without considering the context where it's actually happening.
Lesson learned

thank you and god bless
thinking outside the box
  • #12,970
  • Feb 9, 2017 5:13am Feb 9, 2017 5:13am
Repost from my jounal: http://www.forexfactory.com/showthre...17#post9543817

GBPUSD: First touch of 10ma with RN confluence, I was really carefull with this one because there was a pivot right above, what gave confidence in taking the
setup was the ability of PA to clear the level prior to the touch, however once price reached the pivot I quickly moved to BE, ended up getting +15pips because
I didn't like the way the 5min candles were forming, too much indication of selling pressure.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15.jpg Size: 253 KB
thinking outside the box
  • #12,971
  • Feb 9, 2017 5:34am Feb 9, 2017 5:34am
Quoting Mercennary
Repost from my jounal: http://www.forexfactory.com/showthre...17#post9543817 GBPUSD: First touch of 10ma with RN confluence, I was really carefull with this one because there was a pivot right above, what gave confidence in taking the setup was the ability of PA to clear the level prior to the touch, however once price reached the pivot I quickly moved to BE, ended up getting +15pips because I didn't like the way the 5min candles were forming, too much indication of selling pressure. gbpusd-m15.jpg;2180045 {image}
Nice results, Mercennary I got out right at DR1 with only 11p, at a predefined TP. Initial SL was below M5 50ema, tightened it later to the latest low. Watching it now for a possible 35/50 and WP reaction.
Attached Image
Everything is possible
  • #12,972
  • Feb 9, 2017 5:38am Feb 9, 2017 5:38am
Quoting sasha.fx
{quote} Nice results, Mercennary I got out right at DR1 with only 11p, at a predefined TP. Initial SL was below M5 50ema, tightened it later to the latest low. Watching it now for a possible 35/50 and WP reaction. {image}
Yes, same here mate
thinking outside the box
  • #12,973
  • Feb 9, 2017 9:09am Feb 9, 2017 9:09am
This trade was taken, because I believe it is a constrainment. I Did enter too late, and my SL -10, ended the deal, with a loss. If I had entered earlier, near the MA lines, I would be sitting here with 16 pip profit, the line is still growing, basically it was possible to get 50 pips by now.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 122 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 156 KB


I did awful lot of reading again, and took a rest from trading for a day. I tried to learn on simulator, but it feel somehow so wrong. Iīll try to get myself together and try more. Also my today/tomorrow goal is to read thru manual one more time.

And thanks again for support everyone.
  • #12,974
  • Feb 9, 2017 10:11am Feb 9, 2017 10:11am
Hi dancers !

Hereīs a .. EJ 35/50 bounce.. in H4
Went after 25 pips in profit to BE + a couple ... price missed my TP of 30 pips about 3 pips .. ..

Looks like itīs all I get .

Stay tuned
Guido
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYcH4 9.2..png Size: 44 KB
Risiko birgt immer auch die Chance.
  • #12,975
  • Edited 1:27pm Feb 9, 2017 11:43am | Edited 1:27pm
Quoting Sesamstrasse
Hi dancers ! Heres a .. EJ 35/50 bounce.. in H4 Went after 25 pips in profit to BE + a couple ... price missed my TP of 30 pips about 3 pips .. .. Looks like its all I get . Stay tuned Guido {image}

I gave the H4 " 50 bounce" a new try around european close .. but I can t see any good priceaction ..in smaller timeframes .
Set after 5 pips to BE so have a free ride ... and work on other stuff..

Stay tuned
Guido
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYcM15 9.2..jpg Size: 418 KB
Click to Enlarge Name: EURJPYcH4 9.2. again_Ink_LI.jpg Size: 598 KB
Risiko birgt immer auch die Chance.
  • #12,976
  • Feb 9, 2017 3:34pm Feb 9, 2017 3:34pm
Quoting Sesamstrasse
{quote} I gave the H4 " 50 bounce" a new try around european close .. but I can t see any good priceaction ..in smaller timeframes . Set after 5 pips to BE so have a free ride ... and work on other stuff.. Stay tuned Guido {image} {image}
Very nice trades Guido, its really annoying to watch a TP missed by a couple of pips . If you don't mind me asking, do you follow any guideline when setting a trade to BE?

best regards
thinking outside the box
  • #12,977
  • Feb 10, 2017 1:54am Feb 10, 2017 1:54am
Quoting sandman1111
This trade was taken, because I believe it is a constrainment. I Did enter too late, and my SL -10, ended the deal, with a loss. If I had entered earlier, near the MA lines, I would be sitting here with 16 pip profit, the line is still growing, basically it was possible to get 50 pips by now. Screenshot1.png;2180593 Screenshot2.png;2180603 I did awful lot of reading again, and took a rest from trading for a day. I tried to learn on simulator, but it feel somehow so wrong. Ill try to get myself together and try more. Also my today/tomorrow goal is...
You are right the price was constrained by the RN and yes you entered too late. The problem when you enter late is that you have to be ready to accept a bigger loss, because otherwise you will be stopped out almost all the times. But apart from this, if you look at your SL you will see that it was just sitting on the SMA50 when it was hit. I use a fix SL too but in case of need I move it by some pips, and that was your case.
You're making very normal mistakes due to lack of experience, don't get frustrated, just learn from them. And I tell you more, you'll do the same error over and over again but that will be normal too.
Stay positive and good luck.
  • #12,978
  • Feb 10, 2017 5:18am Feb 10, 2017 5:18am
Quoting Mercennary
{quote} Very nice trades Guido, its really annoying to watch a TP missed by a couple of pips . If you don't mind me asking, do you follow any guideline when setting a trade to BE? best regards
Hi Mercennary .
The TP depends on the timeframe and volatility ..
Mostly I set my trade after about the half TP to BE ..

Ej , as a god volatile pair can give in a H4 frame easy 30 pips .. more 40 to 50 pips.

It depends a bit on your skills and how you read it .. and personal experience
IMO , the exits are the big thing to master in trading, not the entries .

A good contribution was some years ago in this thread.. an EA , posted by the member Arha ..
" retrace bot " .. what opened automaticly a position at each 10 ema touch ..
You can put the " autotrading " in your Mt4 to " of " ( no smiling smiley then ) and it shows you a:
"always reached TP for 10 Ema touches in the right corner, offline as well "

.. just make sure , the conditions are given !!
-first touch , steep angle of Ema
-not against a higher tf ..
-enough space to a higher timeframes MA ..
-no Pivot or round number on your way.. ..
-priceaction
-timing


Guido
Risiko birgt immer auch die Chance.
  • #12,979
  • Feb 10, 2017 5:45am Feb 10, 2017 5:45am
Quoting Sesamstrasse
{quote} Hi Mercennary . The TP depends on the timeframe and volatility .. Mostly I set my trade after about the half TP to BE .. Ej , as a god volatile pair can give in a H4 frame easy 30 pips .. more 40 to 50 pips. It depends a bit on your skills and how you read it .. and personal experience IMO , the exits are the big thing to master in trading, not the entries . A good contribution was some years ago in this thread.. an EA , posted by the member Arha .. " retrace bot " .. what opened automaticly a position at each 10 ema touch .. You can put...
Thanks a lot for the awesome answer Guido, I'll definetly take a look at this EA you mentioned.

best regards
thinking outside the box
  • #12,980
  • Edited 11:05am Feb 10, 2017 10:39am | Edited 11:05am
GBPUSD: My 2nd attempt on a Scoop-up (fist was earlier, failed to breakeven and ended up with a loser -15), this one successful, entry and exit as marked by labels, +20pips. I bet Kostas will turn up with the same trade however with 50+ pips lol.

Attached Image (click to enlarge)
Click to Enlarge Name: Scoopup.jpg Size: 300 KB


Really tempted to take this possible EURUSD h1 35/50 first touch with RN, however very late in the day
thinking outside the box
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