Kolachi Method of Trading - page 18
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PL,
We dont use all wmas.
Kolachi Method uses wma5, ema21, ema55, ema100 and ema200.
The ususall colors for Kolachi Template are:
wma5 (Teal, Dark Green or any color)
ema21 (Yellow)
ema55 (Brown, Cyan)
ema100 (Blue)
ema200 (Red)
It makes life easier if we follow the same colors bcoz subconcious easily recognizes patterns with same colors).
I am sorry but in your chart I could not recognize which emas you are talking about.Please post chart again with Kolachi Template so that I can easily recognize them and answer your question.
kolachi
Thank you for your help and great work. My problem is when do I know that the price is going to stop on a WMA? Beside that the system works lovely wonders and if I can understand the Support & resistance levels it will help greatly.
PL, We dont use all wmas. Kolachi Method uses wma5, ema21, ema55, ema100 and ema200. The ususall colors for Kolachi Template are: wma5 (Teal, Dark Green or any color) HL/2 ema21 (Yellow) ema55 (Brown, Cyan) ema100 (Blue) ema200 (Red) THESE EMA'S ARE CALCULATED ON OPEN? CLOSE, OR SOMETHING ELSE It makes life easier if we follow the same colors bcoz subconcious easily recognizes patterns with same colors). I am sorry but in your chart I could not recognize which emas you are talking about.Please post chart again with Kolachi Template so that I can easily recognize them and answer your question. kolachi
My questions are in BLUE above
My mistake, I try to trade on a 5 min chart but I have attached another one with your colors requirements. Thank you for your help, it is very much appriciated.
peace out
Kolachi MAs are calculated on median price (HL/2)
Hi PL,
droe has rightly replied that Koalchi emas are calcualted on median price.
You can use Kolachi Method even on one minute chart.I is equally valid on all TFs but noise at lower charts makes it more diffcult for us to decide in time.
I am afraid I am not clear about your question, "where wma5 stops."
kolachi
Hi PL,droe has rightly replied that Koalchi emas are calcualted on median price.You can use Kolachi Method even on one minute chart.I is equally valid on all TFs but noise at lower charts makes it more diffcult for us to decide in time.I am afraid I am not clear about your question, "where wma5 stops." kolachi
What i meant by where WMA5 stops. was there Wma5 turns/curves is where I get out.
Hi,
I usually quote myself as below:
"Entry saves your capital and exit makes you rich."
Hence, exit is very important.In Kolachi Method we exit when wma5 changes slope but it is not an easy condition.It needs a lot of experience and homework to get accustomed to it.We use different tools like ema, Bollinger Bands, different timeframes, MACD to confirm that move is finished or a major retracement is coming which will undo our earlier gains.We exit market to re enter at more better place and to preserve hard earned pips.
kolachi
Hi,I usually quote myself as below:"Entry saves your capital and exit makes you rich." Hence, exit is very important.In Kolachi Method we exit when wma5 changes slope but it is not an easy condition.It needs a lot of experience and homework to get accustomed to it.We use different tools like ema, Bollinger Bands, different timeframes, MACD to confirm that move is finished or a major retracement is coming which will undo our earlier gains.We exit market to re enter at more better place and to preserve hard earned pips. kolachi
Thank you for the explaination. What I am using is that MT4 with data feed from FXDD. But my account is with a different broker and they dont allow to change the settings for the WMA or EMA. The differeance between both data is aprox 2 to 3 pips. What is one to do in a condition like this???? Any advice. What setting for B.B and MACD do you recomand?
I get my TA off of MT4 charts and trade from FXCM and find there is a couple pips difference also. I usually make the trade when the chart says so and and exit wihen the chart says so. Im not sure if I miss out on anything or not.
Hi,
You can use charts of a different broker as it doesnt make much difference.I have acounts with three brokers and i use metatrader for analysis.
So you need not worry unless you are a scalper to the last pip.
kolachi
Thank you for the explaination. What I am using is that MT4 with data feed from FXDD. But my account is with a different broker and they dont allow to change the settings for the WMA or EMA. The differeance between both data is aprox 2 to 3 pips. What is one to do in a condition like this???? Any advice. What setting for B.B and MACD do you recomand?
Hello there. thanks for sharing some wisdom.
what is 5wma and cci. Is it a weighted MA??
Thanks!