Dollie's Safe Pips Indicator | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

Silver/USD

Similar Threads

What's better - A safe 20 pips or potential larger moves? 8 replies

More Pips Vs. Safe entries 19 replies

Strategy to take safe pips every day 184 replies

What is the highest probability way to make safe pips? 9 replies

My Dollie System Trades! 5 replies

Thread Admin: Dollie's Safe Pips Indicator

Posting Controls

Edit Thread Title

Edit Time Remaining: Expired

Linked Trade Explorers

Attached Poll

There is currently no poll. Add Poll
Attachments: Dollie's Safe Pips Indicator
Exit Attachments

Dollie's Safe Pips Indicator

  • #41
  • May 26, 2007 12:49pm May 26, 2007 12:49pm
Quoting pip pirate 2
How early do you want to get up and what time do you have to leave the computer for the day? You are in some of the best time to trade with the euro session going on. I would look at all the gpy and euro pairs at that time frame. If you are available at 7am EST then I would look at the eur/cad during cad news events like cad unemployment. You also can trade some of the asian session which starts around 7:30pm your time. A little slower market but could be a good one for a newbie (if you are one). During the asian session, watch the gpy/usd and the jpy pairs, and sometimes the aud pairs. euro and swissie don't move much during this session. Or you can look to do longer trades using the H1 and H4 time frames and try to get fewer trades but with more pips per move.
Ok, thanks. I can leave the computer on all day 24/7 but just can't watch it roughly from 9 AM to 5 PM and I get up at 6:30 AM.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #42
  • May 27, 2007 4:45am May 27, 2007 4:45am
Tnx for the update fxhermit,

Re:

"Here is version two of the template, please check to see if it is correct."

I note there is no lsma in it. Is the lsma deleted now??
Good Trading to All ---- fairwind
  • #43
  • May 27, 2007 7:58pm May 27, 2007 7:58pm
Quoting matrixebiz
Ok, thanks. I can leave the computer on all day 24/7 but just can't watch it roughly from 9 AM to 5 PM and I get up at 6:30 AM.
I would think that your best trading times would be first thing in the morning. The euro session has been going on for 3-4 hours and a lot of times the daily trends are already established. What happens is that London opens, there can be some news within the first 2 hours, then the market will most times trend until the US session. There are tons of pips to be made during these times. My friend and I dream of going to the east coast for a month ( we are on the west coast) get up early and trade our brains out. And you are right there! You also can trade the asian session from 7:30-9pm. Each session has its own way of moving. I would paper trade and take notes for a while until you can understand them. The market will always be here.
  • #44
  • Edited May 29, 2007 12:49am May 28, 2007 9:17pm | Edited May 29, 2007 12:49am
I wanted everyone to look at the gbp/jpy and the eur/jpy pairs today at around 1 GMT. I was watching the pairs and then left my computer for a while and missed the move. Dollie's cross of the indicators was on the M15, M30 and H1. Before the move the pairs were not acting like the market knew which way to go so that caused me to think that nothing was going to happen for a while. Well I was wrong. After 1 GMT there was some good candles. The signal on the H1 was at 0 GMT and the M30 was at 0:30 GMT and at M15 at 1 GMT.
  • #45
  • May 29, 2007 10:15am May 29, 2007 10:15am
Hey: You asked last week what times to trade. So I hope that you looked at the moves today and this morning. The gpy/chf moved 120+ and the cad pairs also were big because of the rate decision. That is why I say to look at all the pairs. I like to think this way: If we worked for one of the big players and institutions, your boss would want you to make money almost every day for the clients. So some pair is probably going to be moving a lot almost every day so that the big boys can make money.
  • #46
  • May 30, 2007 2:23pm May 30, 2007 2:23pm
  •  Trader#0000
  • | Status: Unregistered Trader
Just sharing yesterday's nice moves on the GBP 4h

First we look for Over sold signs ( green markings on the left showing both cci and rsi is O sold and trading under the 10 line )

So now we know a possible buy is coming up shortly and it does happen when pink and blue cross for a buy - now we know the trend direction after the cross - its a buy.

Then the possible trade becomes a safer option when both cci and rsi are above 0. ( the white 2) It even becomes more safe when lsma enters ( the yellow markings )

I trade safely. I want to increase my account and not enter risky trades. I want to trade what I see thats why I like this indic of mine. When things lines up I take the trade with confidence.

We stay in the trade till where I have drawn the red markings ..its shows now that its over bought and time to take profit. All 3 indic shows O bought in the 90 zone..a very good sign to take profit. Also note the red marking on the pink in the 10 zone...shows the end of the trend too.

Now we know its O bought so we look for a possible sell trade next...

When blue and pink cross its a sell - we know the trend now... then we wait for cci to enter down through 0 (white 3 ) ....now we know the trade is safer as we trade now under 0. Soon after lsma enters through as well ( yellow markings) Now its even more safe.

Marking 4 shows us where the down trend resumes
Green markings shows where it went into O sold and a safe place to close the trade.

Lsma is lagging when you wait for it to cross 0 ...but when that happens its safe. You can enter earlier when lsma enters in between pink and blue and make more pips. As long as for a buy the lsma is trading above 0 you should be fine and under 0 when its a sell trade..as seen in this chart.

Hope this helps !
Attached Image
  • #47
  • May 31, 2007 12:41am May 31, 2007 12:41am
I hope that there are going to be more people that participate in this forum. Dollie is a great teacher and has taught me a lot. Others can learn also so I hope we can make this a great forum.
  • #48
  • May 31, 2007 2:36am May 31, 2007 2:36am
Thanks Dollie - your comments on the 4 hour trade were much appreciated.
  • #49
  • May 31, 2007 6:04am May 31, 2007 6:04am
i've been a quite observer on this thread....

nice set up on 4H

i think i might try this method on demo 1st
Every moment in the market is unique
  • #50
  • May 31, 2007 11:24am May 31, 2007 11:24am
Hello Dollie,
thanks for the great indicator and sharing your method with us. The lessons are great.
Regards,
Pluto2
  • #51
  • Jun 1, 2007 12:41am Jun 1, 2007 12:41am
Hi Dollie,

Thank-you for sharing.

Got a question.

Since I can only monitor the screen just a few hrs a day I'm looking for strategy that uses buy stop or sell stop for entry. Do you think buy stop/sell stop will work when rsi(2) runs into 10 or 90 level?

eg. a 4hr bearish candle pushes rsi(2) into level 10 zone. I would do a buy stop at the high of the candle and put stop loss at the low of the candle.

Thanks.
  • #52
  • Edited Jun 2, 2007 12:28am Jun 1, 2007 7:07pm | Edited Jun 2, 2007 12:28am
Hello Dollie

What a great indicator you've developed!

When I first glanced at this thread a couple weeks ago and saw all the overlapping lines of the indicator, my initial reaction was, Are you kidding? I returned to the thread last night and read the positive feedback and decided to download, study and backtest it. I was impressed.

I typically trade the longer term charts, so I compared it to some of the indicators I use (Fozzy, Dynamic Zone RSI and 5,13,1 MACD).

The thing that makes your indicator unique is that it has built in filters to keep you out of bad crossover signals and gives you at least a couple of possible entrys which lends itself to scaling into a trade.

Thank you for sharing this with us. I plan to continue using it and may end up discarding some of the indicators I've been using because the Dollie Indicator appears to be a stand alone trading system.
  • #53
  • Jun 1, 2007 9:05pm Jun 1, 2007 9:05pm
Dollie, Thanks for sharing this great method and combination of indicators. I am going to test it in my micro account with great confidence from monday. .
  • #54
  • Jun 2, 2007 9:42pm Jun 2, 2007 9:42pm
Quoting MegaPips
Dollie, Thanks for sharing this great method and combination of indicators. I am going to test it in my micro account with great confidence from monday. .
I'll be doing the same on EURUSD.

good luck
  • #55
  • Jun 3, 2007 12:40am Jun 3, 2007 12:40am
Indicator shows good consistency in live trading but don't forget that it cannot be backtested as the lines move around as you scroll back on the chart due to them all being on different scales.
  • #56
  • Edited 2:46am Jun 3, 2007 2:44am | Edited 2:46am
Quoting scorpion
Indicator shows good consistency in live trading but don't forget that it cannot be backtested as the lines move around as you scroll back on the chart due to them all being on different scales.
Hi Scorpion

I was under the impression that backtesting was valid if entrys are made at the completion of a time frame as opposed to mid candle. Please set this newbie (me) straight since I spend much time backtesting various indicators over months trying to determine how they perform under differing market conditions. I dont want to waste my time if the results are not reliable. Thanks
  • #57
  • Jun 3, 2007 4:53am Jun 3, 2007 4:53am
Sorry,
I wasn't saying the results are not reliable, it looks like a good system but you can only forward test it.

I wasn't talking about the mid or end of candle.

If you open up a 30 minute chart with the indicators on then scroll back through the chart slowly you will see that the indicators move as the chart moves, so back testing would not be valid in this instance, you could only backtest if all 3 indicators were on the same scale which isn't possible.

Its a good setup when traded live.
  • #58
  • Jun 3, 2007 7:28am Jun 3, 2007 7:28am
Thanks for your point, I totally agree. In live trading, this indicator will work like magic and needs some practise.
Quoting scorpion
Indicator shows good consistency in live trading but don't forget that it cannot be backtested as the lines move around as you scroll back on the chart due to them all being on different scales.
  • #59
  • Edited 11:17am Jun 3, 2007 10:18am | Edited 11:17am
Quoting scorpion
Sorry,
I wasn't saying the results are not reliable, it looks like a good system but you can only forward test it.

I wasn't talking about the mid or end of candle.

If you open up a 30 minute chart with the indicators on then scroll back through the chart slowly you will see that the indicators move as the chart moves, so back testing would not be valid in this instance, you could only backtest if all 3 indicators were on the same scale which isn't possible.

Its a good setup when traded live.
Scopion

I see what you are referring to.

The RSI will move in relation to the 0 line (because the 0 line is belongs to the CCI).

Thanks for enlightening me.

( I wasn't referring to wasting my time with this particular indicator but to backtesting systems that have one indicator overlayed another indicator ).
  • #60
  • Jun 3, 2007 11:00am Jun 3, 2007 11:00am
This sounds very interesting and worth a try.

Thank you for this

kevin
0 traders viewing now