Chacón spent most of his career with Club Olimpia of Honduras, joining the side in 1988, and leading the team to two Honduran championships and a CONCACAF Champions' Cup in 1988.
During the 2001 season, Chacón played a crucial attacking role on a team stacked with offensive talent, including Preki, Diego Serna, Ian Bishop, and Chris Henderson.
He was selected by the New England Revolution in the 2002 MLS Dispersal Draft, but the emergence of Taylor Twellman and the arrival of a new manager Steve Nicol led to a diminished role on the squad for Chacón.
After the 2003 season, Chacón, without a place in MLS, moved to the American A-League, where he found plenty of playing time for the Atlanta Silverbacks.
[3] Pineda Chacón made his debut for Honduras in a December 1992 FIFA World Cup qualification match against Costa Rica and has earned a total of 45 caps, scoring 5 goals.