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Dollie's Safe Pips Indicator

  • #101
  • Jun 7, 2007 7:17am Jun 7, 2007 7:17am
i closed both trades gbpjpy +70, it might keep going down but i am already happy, and eurjpy with +12, cable today gave a very big rally almost 100 pips, also look at usdchf 50 pips very good day even for the ones who arrived late.
  • #102
  • Jun 7, 2007 8:02am Jun 7, 2007 8:02am
Quoting blanca
i closed both trades gbpjpy +70, it might keep going down but i am already happy, and eurjpy with +12, cable today gave a very big rally almost 100 pips, also look at usdchf 50 pips very good day even for the ones who arrived late.
cool. please post some chart.
  • #103
  • Edited 9:24am Jun 7, 2007 8:23am | Edited 9:24am
Very nice trades everyday, if anyone made any furthur development for this method, please do some posts. I always trade breakout with hans123 system for very long time, so I use this system as an additional confirmation before any possible breakout. But, I like to see furthur modifications combined with this system.
  • #104
  • Jun 7, 2007 8:54am Jun 7, 2007 8:54am
Quoting jackt
cool. please post some chart.
Here's a chart from the overnight move that Blanca caught. Notice that the cross was on the first down candle letting you know something big was happening. What I have found is the bigger the time frame for a great cross, the bigger the move. The dotted line is very strong. Lmsa is already red saying short. the pink line is coming up strong. Remember the goal is to see this, can use smaller charts to time entry, make trade and get to breakeven and let the trade go.
Attached Image
  • #105
  • Jun 7, 2007 9:53am Jun 7, 2007 9:53am
Quoting MegaPips
Very nice trades everyday, if anyone made any furthur development for this method, please do some posts. I always trade breakout with hans123 system for very long time, so I use this system as an additional confirmation before any possible breakout. But, I like to see furthur modifications combined with this system.
Mega: Did you check out Dollie's post at #87?
  • #106
  • Jun 7, 2007 10:01am Jun 7, 2007 10:01am
Yes pip pirate, that is better as well, but I prefer adx filter to confirm as you are using in your setups. I am sure there will be much much more developements will happen to this strategy. Thanks.

Quoting pip pirate 2
Mega: Did you check out Dollie's post at #87?
  • #107
  • Jun 7, 2007 10:25am Jun 7, 2007 10:25am
Quoting pip pirate 2
Here's a chart from the overnight move that Blanca caught. Notice that the cross was on the first down candle letting you know something big was happening. What I have found is the bigger the time frame for a great cross, the bigger the move. The dotted line is very strong. Lmsa is already red saying short. the pink line is coming up strong. Remember the goal is to see this, can use smaller charts to time entry, make trade and get to breakeven and let the trade go.
PP2
This is a very interesting approach: I'm trying to follow your trades but I can't get the rules straight i.e. "Lmsa is already red saying short" Is there a post that I can refer to for the long/short rules. I thought Iread them all. In addition,would it be possible to indicate the entry positions on your chart with a circle on the indicator so that I can see what an entry looks like.
Thanks for sharing this interesting approach.
  • #108
  • Jun 7, 2007 11:25am Jun 7, 2007 11:25am
Hi, Dollie and everyone. Thanks a lot for sharing this system. I am a newbie to forex and just demo trading for two week. I think I am doing OK but obviouly sometimes don't know what I am doing. I spent a lot of time to read the forums and try to find a system that can work for me--so time-consuming and it makes me dizzy often. Anyway, I just stumbled on this tread the other day and so far I like the Dollie system and will try to stick with it. Here are the chart I spotted today. Please give me some advice:
So it is a signal, right? Then How can I decide the T/P and S/L? When should I exit?
I wish there is a EA for this method because I am pretty much occupied and can sit all day to watch the screen
Happy Trading!
Hapipips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20070607 eurusd30m.jpg Size: 78 KB
Click to Enlarge Name: 20070607 eurusd1h.jpg Size: 77 KB
Click to Enlarge Name: 20070607 eurusd4h.jpg Size: 77 KB
  • #109
  • Edited 5:05pm Jun 7, 2007 12:11pm | Edited 5:05pm
Hi Hapipips, I can see you are exited about forex, true, everyone is. But, please do not take me wrong - never ever think there will be or is an Expert Advisor which will give continious wins and you come back home to take all profits. If you find an EA as such, please post to us. So, the only way to survive in trading is mechanical methods. Everyone always ask for EA for every method, I do not think an EA is likely to be developed for this method - this is what I like about this method.
Traders learn everyday for new strategies, there is or maybe not any such system to make money itself and we do not want to monitor it. Anyway, Good Luck in your tradings. Regards.

Quoting Hapipips
Hi, Dollie and everyone. Thanks a lot for sharing this system. I am a newbie to forex and just demo trading for two week. I think I am doing OK but obviouly sometimes don't know what I am doing. I spent a lot of time to read the forums and try to find a system that can work for me--so time-consuming and it makes me dizzy often. Anyway, I just stumbled on this tread the other day and so far I like the Dollie system and will try to stick with it. Here are the chart I spotted today. Please give me some advice:
So it is a signal, right? Then How can I decide the T/P and S/L? When should I exit?
I wish there is a EA for this method because I am pretty much occupied and can sit all day to watch the screen
Happy Trading!
Hapipips
  • #110
  • Jun 7, 2007 12:27pm Jun 7, 2007 12:27pm
I just wanted to post a note here because it has been mentioned that you can't backtest this method because the relative height of the lines changes over time. Well, that's not really true. You CAN backtest this. This is what you do.

Put your Dollie setup on a pair and then move to the very beginning of the timeline (in MT4, just hit "Home" and it will take you to the beginning of the timeline). Once you're there, hit F12. This will step you through the bars/candlesticks one at a time. By doing this, you can actually see the crosses exactly as they would have been seen in the past. Based on the rules, make a trading decision (don't peek ahead!) and then hit F12 again to see how the trade would have played out. It's time consuming, but this will allow you to manually backtest this method if you care to.
  • #111
  • Jun 7, 2007 12:40pm Jun 7, 2007 12:40pm
Thanks Bytebodger, never knew this before. Really appereciated. Will do.

Quoting Bytebodger
I just wanted to post a note here because it has been mentioned that you can't backtest this method because the relative height of the lines changes over time. Well, that's not really true. You CAN backtest this. This is what you do.

Put your Dollie setup on a pair and then move to the very beginning of the timeline (in MT4, just hit "Home" and it will take you to the beginning of the timeline). Once you're there, hit F12. This will step you through the bars/candlesticks one at a time. By doing this, you can actually see the crosses exactly as they would have been seen in the past. Based on the rules, make a trading decision (don't peek ahead!) and then hit F12 again to see how the trade would have played out. It's time consuming, but this will allow you to manually backtest this method if you care to.
  • #112
  • Jun 7, 2007 12:44pm Jun 7, 2007 12:44pm
Fantastic Bytebodger, where did you learn this, no one told me before. Nice trick.

Quoting Bytebodger
I just wanted to post a note here because it has been mentioned that you can't backtest this method because the relative height of the lines changes over time. Well, that's not really true. You CAN backtest this. This is what you do.

Put your Dollie setup on a pair and then move to the very beginning of the timeline (in MT4, just hit "Home" and it will take you to the beginning of the timeline). Once you're there, hit F12. This will step you through the bars/candlesticks one at a time. By doing this, you can actually see the crosses exactly as they would have been seen in the past. Based on the rules, make a trading decision (don't peek ahead!) and then hit F12 again to see how the trade would have played out. It's time consuming, but this will allow you to manually backtest this method if you care to.
  • #113
  • Jun 7, 2007 12:59pm Jun 7, 2007 12:59pm
Quoting MegaPips
Fantastic Bytebodger, where did you learn this, no one told me before. Nice trick.
I read this a few days ago in the Metatrader forum on this site. Also, Shift+F12 goes backward one bar.
  • #114
  • Jun 7, 2007 1:15pm Jun 7, 2007 1:15pm
Thanks Bytebodger.

Quoting Bytebodger
I read this a few days ago in the Metatrader forum on this site. Also, Shift+F12 goes backward one bar.
  • #115
  • Jun 7, 2007 1:35pm Jun 7, 2007 1:35pm
Does anyone see a long set up approaching on the cable (30 min TF)

Thanks,

Kunz
  • #116
  • Jun 7, 2007 4:28pm Jun 7, 2007 4:28pm
Quoting MegaPips
Hi Hapipips, I can see you are exited about forex, true, everyone is. But, please do not take me wrong - never ever think there will be or is an Expert Advisor which will give continious wins and you come back home to take all profits. If you find an EA as such, please post to us. So, the only way to survive in trading is mechanical methods. Everyone always ask for EA for every method, I do not think an EA is less likely to be developed for this method - this is what I like about this method.
Traders learn everyday for new strategies, there is or maybe not any such system to make money itself and we do not want to monitor it. Anyway, Good Luck in your tradings. Regards.
Excited? Maybe. A lot more of nervous actually. I will not open a live account until I am fully comfortable. Not that I want to find a easy way to do forex, but if there is one why not give it a try. I am actually studying very hard and lost some sleep. I know I am making progress but still very caucious about really moving forward to live trading. And when I start live trade, I will try my best to monitor the trades as much as possible even when a EA is doing the trade for me. Thank you for your comments anyways.
  • #117
  • Jun 7, 2007 4:32pm Jun 7, 2007 4:32pm
Quoting Bytebodger
I just wanted to post a note here because it has been mentioned that you can't backtest this method because the relative height of the lines changes over time. Well, that's not really true. You CAN backtest this. This is what you do.

Put your Dollie setup on a pair and then move to the very beginning of the timeline (in MT4, just hit "Home" and it will take you to the beginning of the timeline). Once you're there, hit F12. This will step you through the bars/candlesticks one at a time. By doing this, you can actually see the crosses exactly as they would have been seen in the past. Based on the rules, make a trading decision (don't peek ahead!) and then hit F12 again to see how the trade would have played out. It's time consuming, but this will allow you to manually backtest this method if you care to.
Wow! Thank you so much! And the backtest results are fantastic on EUR/USD 1H chart!
  • #118
  • Jun 7, 2007 5:09pm Jun 7, 2007 5:09pm
Thank you. This long setup will not be a major one, it will be followed by a short very soon, in my opinion - unless this long setup continues into bigger timeframes.

Quoting kunz78
Does anyone see a long set up approaching on the cable (30 min TF)

Thanks,

Kunz
  • #119
  • Jun 7, 2007 7:41pm Jun 7, 2007 7:41pm
As much as I like this system. I really want to know what is behind all those indicators? I know RSI but not ASI, CCI, LSMA. And what about the settings--why we set it up that way? I just want to learn more than just copying superficially. Where can I learn more about all those technical tools to analyze the chart? Can anyone kindly answer my question? Really appreciate everything.
Happy trading to everyone!
A hungery newbie
  • #120
  • Jun 7, 2007 10:30pm Jun 7, 2007 10:30pm
Quoting Hapipips
Hi, Dollie and everyone. Thanks a lot for sharing this system. I am a newbie to forex and just demo trading for two week. I think I am doing OK but obviouly sometimes don't know what I am doing. I spent a lot of time to read the forums and try to find a system that can work for me--so time-consuming and it makes me dizzy often. Anyway, I just stumbled on this tread the other day and so far I like the Dollie system and will try to stick with it. Here are the chart I spotted today. Please give me some advice:
So it is a signal, right? Then How can I decide the T/P and S/L? When should I exit?
I wish there is a EA for this method because I am pretty much occupied and can sit all day to watch the screen
Happy Trading!
Hapipips
my general rule (at the moment) for hr eurusd:
S/L - 10-20 pips
T/P - average daily range. at the moment I use 60 pips.

Hope this help.
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