The major chords are important in 'chords the story' as they often represent the positive and stable elements of the story. For example, a C major chord can be like a happy beginning or a moment of resolution. Minor chords are also crucial as they can convey the sad or tense parts of the story. The dominant chords are significant too as they create a sense of movement and lead to other chords, much like a plot device leading to the next part of the story.