Kolachi Method of Trading - page 95
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Ogie, Sorry again for the late reply but Saturday is the only day of the week that offers to me chances to do some jobs. Again, i agree with you 100% but as you can see from the older charts i herebelow attached when something like that happens then the slope change signals are more reliable. I dont know... What do you think? Also, about pivots yes it is a mathematical indicator, i know that, so why price react so well near to these lines? I suppose because a huge mass of traders BELIEVE that price here will do this or that. It is the same such a trendline. If you draw one well please be carefull when price touch it. You will see that price sharply reacts. Why ? Becouse an amount of traders BELIEVE that price will go up or cross it. It is nothing speciall. Regarding pivot indicator i attached it also but it is not possible to check its behavior in older charts since every day the possition of lines change. I think that there is pivot indics out there which seperates lines/day and i will made a search for you if you like but for my opinion it is not necessary Best regards
Zach
Saturday is your day for doing jobs? LOL now I know you are a REAL fx trader lol!!!!!
What I found after building and deconstructing indicators and oscillators for ages only to go round and round in circles is this: they can provide one of those thousands of successful methods to trade with (like you mentioned before). BUT with Kolachi we have such a method, that's why I don't see the need for them!
The charts you uploaded show the Stochatic working nicely, but i bet for every good signal on them you can find a bad signal too. I think too many filters reduce the success of any system, and Kolachi is obviously great when used in a discretionary way with SR, trendlines and basic chart knowledge. So I think using an indicator under the chart is done by most people just for traditions sakes rather than actually having a use. It looks pretty and gives us confidence but to me I just see another filter which works great today and terrible tomorrow. I am now a serious believer that KM with basic chart reading skills is all you need.
Of course then what people do is this: they think more filters = better signals so they add the Stoch, then the RSI, then %R, then... etc. etc before they know it KM is lost and some new weird homemade headche-type trading system is on their charts. Then it fails, they curse the original method and go back to square one, never finding success. I think we need to accept one truth: like you said, thousands of indicators/methods works, you just have to have the discipline to use ONE. That ONE really needs to incorporate basic chart skills (SR, bar analysis, trendlines). The moment you try to improve it, you lose it.
Now that said, like you said, the pivot lines are extensions of SR really (begs the question are they even really an indicator as such?). Anyway, so many thanks as ever for attaching your pivot indicator, I'll give it a go from the standpoint of it being further support/res. But I really cannot put anymore on my chart than KM, candles, SR/trendlines and pivots. That's a lot of lines, and any more surely will kill the method. My CCI is about to be wiped forever!!
Here's a question: your pivot indicator, is it from the original "floor trader pivots" indicators thats been around for decades, or is it some new secret calculation? The reason I ask is because you got me googling about pivots and it seems some new "modern" ones have been made (
) which means more confusion for everyone. Why can't people leave things alone??!! Anyway, is it based on original floor trader pivot calculations? And if so, what does it do about the "sunday problem" in FX? (IE: does it ignore those few sunday night candles?).
Thanks a million you are teaching us all very very well!!
Ogie
EDIT: forgot to say, Stochastic is a "bound" oscillator which means it is bound between 1-100 like RSI etc... unlike CCI, MACD, etc. The extra problem with bound oscillators is that the readings are even less reliable as they HAVE to be contained in the scale, they're not allowed to roam free. This makes divergence signals, for example, even weaker as they are forced by the scale restrictions. So I would say if anyone really has to use an oscillator (not that you really do) but if you want to then use unbound like CCI. Or just throw them away LOL!!
Ok, just looked at MetaEditor and those pivot lines (as the name suggests!!) are fibopivots which are calcuated with fib numbers in the formula. Now, original floor trader pivots are completely different, as they do not use any fib calculations.
So... that's a dilemma LOL! The problem is if some people are watching "fibpivots" and some are watching traditional floor trader pivots and some are watching some new flashy pivot indicators etc then it gets self destructive. Maybe I'm overthinking this, but I'll really try my best with them because if you use them to great success they must have something about them... but I guess this is why I'm a traditional "hand drawn" SR man rather than an indicator man.
Anyway, I don't mean to undermine your teaching at all Zach, far from it, you are obviously great at trading and you know what you are doing and are generous to share all this. I'm trying to be objective to find my own path with KM I guess, but I can see it is really really similar to your path LOL!!
I may now go search out traditional floor trader pivots for MT4 and compare yours to them.
Phew this journey is a long one lol
Ogie
Ogie,
Please forgive me again for late responses.
To cut a long story short, following the signals given by an oscillator is suicide. One time as you said they are right the next they are fully wrong. ok forget and delete them from the charts.
When years ago i began to work on stocks market they were so impressive to me so i begun to read hundreds of articles,hundreds of systems based on them or combinations of them, systems based on channels etc and finally when i was trying to verify their effectiveness by trial and error little by little i gave them all away. Later on when i learned about forex i confirmed my ex-decision through MetaEditor since i transfered those systems _and not only_ in many dozens of expert advisors and backtested them and always the results were declined curves which finally became zero. Anyway, what remains is that stochastic and just for a feeling of oversld/bght/divgses.
The more you simplifie the rules the better results you have. Believe me
Now, lets wait what we will see this week.
Best regards
Ok, just looked at MetaEditor and those pivot lines (as the name suggests!!) are fibopivots which are calcuated with fib numbers in the formula. Now, original floor trader pivots are completely different, as they do not use any fib calculations.So... that's a dilemma LOL! The problem is if some people are watching "fibpivots" and some are watching traditional floor trader pivots and some are watching some new flashy pivot indicators etc then it gets self destructive. Maybe I'm overthinking this, but I'll really try my best with them because if you use them to great success they must have something about them... but I guess this is why I'm a traditional "hand drawn" SR man rather than an indicator man.Anyway, I don't mean to undermine your teaching at all Zach, far from it, you are obviously great at trading and you know what you are doing and are generous to share all this. I'm trying to be objective to find my own path with KM I guess, but I can see it is really really similar to your path LOL!!I may now go search out traditional floor trader pivots for MT4 and compare yours to them. Phew this journey is a long one lol Ogie
Ogie, Please forgive me again for late responses. To cut a long story short, following the signals given by an oscillator is suicide. One time as you said they are right the next they are fully wrong. ok forget and delete them from the charts. When years ago i began to work on stocks market they were so impressive to me so i begun to read hundreds of articles,hundreds of systems based on them or combinations of them, systems based on channels etc and finally when i was trying to verify their effectiveness by trial and error little by little i gave them all away. Later on when i learned about forex i confirmed my ex-decision through MetaEditor since i transfered those systems _and not only_ in many dozens of expert advisors and backtested them and always the results were declined curves which finally became zero. Anyway, what remains is that stochastic and just for a feeling of oversld/bght/divgses. The more you simplifie the rules the better results you have. Believe me Now, lets wait what we will see this week. Best regards
Zach
Yes, simple simple simple!!!! That's what I'm aiming at. My CCI is in the trash, now I just have my chart, Kolachi lines, hand drawn lines and still looking to watch your pivot indicator in real time. As I mentioned before I'm a little worried that this fibopivot indicator is totally different from traditional pivots but there seems to be a world of pivot-type indicators out there and so it seems to be an issue that may lead to the world's biggest headache.
May I ask you: have you used this fibopivot indicator for as long as you have been using KM? Or is it a more recent tool?
Thanks Zach, looking forward to the week ahead
Ogie
Ogie,
It is a tool as long as i use KM
regards
Zach Yes, simple simple simple!!!! That's what I'm aiming at. My CCI is in the trash, now I just have my chart, Kolachi lines, hand drawn lines and still looking to watch your pivot indicator in real time. As I mentioned before I'm a little worried that this fibopivot indicator is totally different from traditional pivots but there seems to be a world of pivot-type indicators out there and so it seems to be an issue that may lead to the world's biggest headache. May I ask you: have you used this fibopivot indicator for as long as you have been using KM? Or is it a more recent tool? Thanks Zach, looking forward to the week ahead Ogie
This is new thing i ever heard in Trading. What is Kulache and what is the meaning.
As today i was outside home i was not able to catch 5wma slope so now i am looking for a sell opportunity as all Kolachi emas are well spread. My trade will be triggered at ellipse area
Regards
My friend,
What are you talking about? I cant understand you
This is new thing i ever heard in Trading. What is Kulache and what is the meaning.
This is new thing i ever heard in Trading. What is Kulache and what is the meaning.
Hello
Please go to page 1 of this thread and read it through, especially the first few pages. Take some screen time with the EMAs setup and watch how they interact with each other.
Also, Mr Kulache's own site can be found here: Forex Kulache - Free Trading Forum (I hope that doesn't break any rules, sorry if it does).
Ogie
As today i was outside home i was not able to catch 5wma slope so now i am looking for a sell opportunity as all Kolachi emas are well spread. My trade will be triggered at ellipse area Regards
Zach
Great chart!! Quick question: the method talks about trading pullbacks towards the 200ema axis when ema's are well spread. You said you missed that one today, but you're now waiting for 5wma to come back to the marked area for a turn back down (as there is 55ema, trendline, pivot, etc... loads of stuff in that area LOL!!). So what have you found to be the most reliable signals in kolachi method? The pullbacks to the 200 axis when ema's wide spread or the 5wma repulsions away from axis/other ema's/other support etc... I think I prefer the repulsions away from axis/other lines.
Thanking you in advance
Ogie