Indeed that's the trick I think. When I trade this way I win, but at some point I ger overconfident and I lose again. As a matter of fact, when I am self-collected and calm I find I can successfuly trade in other ways too. Eg in many cases I can ...

CHOROS System

Thanks! What stop-loss do you use in this case ? The same as you would use when trading the 15m ? And also, do you look at the lower time frames (1H, 15M) when trading such a H4 bounce ?

CHOROS System

I was wondering whether trading this system is 100% the same regardless of the timeframe... Obviously with higher timeframes one will be looking at higher profits and stop-losses. But other than that ? Are there other differences ? If you take a ...

CHOROS System

endroute, do you ever use take profit orders ? And how often do you check on your trades ?

Following Price

Yes, I'm aware of that. But I think the effect is much stronger in higher time frames and when price has broken a level for the first time. If price is partying around a level, can we really talk about S/R ? Aren't multiple breaches of a level an ...

CHOROS System

I don't know how others treat this, but in such a situation S/R and pivot mean nothing to me. They have already been crossed over, violated and deflowered in the vicinity of the timeframe. Why would price suddenly decide to respect them again ? IMHO ...

CHOROS System

BTW, how many trades do you average per week ?

Following Price

Thank you. This is all very straighforward but I've read so many things that sometimes I'm confused by simplicity

Following Price

Do you ever set a stop loss greater than 25 pips ? Or maybe do you also look at the lower time frames to better time your entry ? Is 25 pips always adequate for playing the 4H ? Also, do you enter exactly when the new 4H bar opens or is it more ...

Following Price

Got stopped. In the 15M it looked like a nice chance to enter (10 EMA touch) but the 1H formed a very pointy pinbar. On to the next one. I'm curious however to see whether it will finally go all the way down to 0.7200

CHOROS System

Well done! I find it especially useful that you post the trades as you take them.

Following Price

Halfway there; I've trailed the stop to the high of the hour

CHOROS System

Looks good in the 1H so far:

CHOROS System

I moved the stop loss to BE. Take profit at very ambitious level, 0.7210. I may exit earlier though - assuming I'm not stopped out.

CHOROS System

I'm in at the retracement (15M 10 EMA touch) with a stop loss at 0.7306. Let's see how it goes.

CHOROS System

AUDEUR looks constrained by the 15M 50 EMA and by the 1H 10 EMA. It currently struggles with the 0.7300 level. If it breaks convincigly below it then it could go all the way to the next important support at 0.7200.

CHOROS System

You can't be emotionless, that's for sure. But I think that's the ideal as far as trading is concerned. To utilize your pattern-recognizing abilities without permitting other factors to interfere. We can never switch off our emotions while trading, ...

CHOROS System

Second attempt down under today, this time with NZDUSD. It didn't go as well as the first one. At the time it looked like a nice 5 EMA touch (1H chart) and there was no important support below. However it coincided with the USD fall. Fortunately the ...

CHOROS System

Of course, we can't avoid being reckless sometimes. The problem is when it is the rule and not the exception. You seem to already be at a very good point. Well, the point is to minimize emotion as much as possible. If someone was paying you a lot of ...

CHOROS System

Hehe. Now they've changed it: "Swiss Franc advances on Middle East Violence" Funny guys over there at Bloomberg. Excellent comedians. ETA: They still haven't changed this though: "The euro may weaken to a five-month low against the dollar after ...

CHOROS System