Kolachi Method of Trading - page 64
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Hi,I appreciate your curiosity about KM. Big journey starts with a small step. Early two or three pages of thread are enough to give you feel about Kolachi Method. No need t go through million posts as you said it.Once you have read two three times the important posts, then start looking at Kolachi emas ( wma5, ema21,ema55, ema100 and ema200) in action on live charts. It will take few weeks to get good understanding of KM.My guidance is always available to you but it is you who will do homework. kolachi
I do not know where to start? I do not know what posts to start looking ta? Can we e-mail each other so that we can discuss this method?
Hi bioluminescence,
I think what Mr.Kolachi said is he suggest you to read the first page until page three from this thread. If you still confused, just klik here and read it.
regards,
Hi, Thanks for the good question. As per Kolachi Method, higher charts are more weighted than lower charts. If you see a buy on 5M while 1H is bearish then market will follow 1H chart. We have to wait for 5M to lose bullish stance before we enter short. kolachi
Thanks David for the posts.
If the 5wma just changed direction on 1 hour (and is now towards long), the next or Second candle may show a down direction. Dont you think if we trade in 5 minute longs (based on 1 hour direction), you might mostly fighting against the trend (assuming the 2nd or next candle is downtrend).
Thanks in advance for your answer/time.
Kent
Hi Mr. Kolachi,
One question please! You have probably answered this before and I probably missed it. Sorry!
Do we enter the trade on the close of the bar that causes the change of slope of the 5wma, or do we simply enter when the 5wma slope change occurs. I've noticed sometimes if I wait for the bar to close (I'm using 5m for entry) I miss much of the move. On the other hand if I go ahead and enter at the change of slope, many times the slope will turn back to the original trend.
What is best?
Thanks,
Papajoe
Kent,
Unlike other methods, we do not go to lower TFs for fine tuning of entries. KM says that a single TF is sufficient enough to guide us for trading. However, we can look at higher charts for longer term trend direction. We have two TFs in Kolachi Methods. One is used for trading while other is used for guidance or trend direction.
If we are trading 1H then we have to follow KM rules on 1H, while we should follow trend direction of daily. If we are trading 5M then we should follow direction of 1H.
If a slope change occured on 1H and trend direction is bullish on it then we should enter as per Kolachi Rules on 5M but skip any bearish signals on 5M.
When you say second candle is bearish on 1H then definitely you will see a slope change of wma5 down on 5M. You need not take that signal.
kolachi
Thanks David for the posts. If the 5wma just changed direction on 1 hour (and is now towards long), the next or Second candle may show a down direction. Dont you think if we trade in 5 minute longs (based on 1 hour direction), you might mostly fighting against the trend (assuming the 2nd or next candle is downtrend). Thanks in advance for your answer/time. Kent
Hi,
As per rules, we have to enter on slope change confirmed by close of a candle. However, in practise we do enter in anticipation of slope change as we grow senior in trading and understanding of KM.
Knowledge of candles will help you enter in anticipation of slope change of wma5.
kolachi
Hi Mr. Kolachi, One question please! You have probably answered this before and I probably missed it. Sorry! Do we enter the trade on the close of the bar that causes the change of slope of the 5wma, or do we simply enter when the 5wma slope change occurs. I've noticed sometimes if I wait for the bar to close (I'm using 5m for entry) I miss much of the move. On the other hand if I go ahead and enter at the change of slope, many times the slope will turn back to the original trend. What is best? Thanks, Papajoe
Wow this is a great system Thanks alot
Weekly Performance
Month: Jan/February, 2009
Week: 30-06th day
Pips Pefromance: +1079 pips
Eq. Change (week): +4.45%
Eq. Change (2009): +10.91%
kolachi
Long trades taken in past week.
kolachi
Hi All,
NFP is fascinating to everyone and I did participate too. eur/usd was not strongly biased anywhere so preferred to straddle both sides with 5 trades each sides minutes before news release. These ten trades hit 20 pip TP each. In addition to placed few more scalping trades as reaction unfolded. In total go 250+ pips.
kolachi