Quote:
Originally Posted by 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
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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?