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Dollie's Safe Pips Indicator

  • #201
  • Jun 20, 2007 9:41am Jun 20, 2007 9:41am
Quoting Pippy Cent
I believe someone had posed this question earlier in this forum, but i don't believe that it was answered. Forgive me if I am mistaken. What role does the moving averages play in this strategy and what are the rules for using them. Thanks and God Bless
Another great question. Look on the chart that I just posted today of the gbp/jpy. The yellow moving average (which is the 3) is usually in the center of the candles. The blue line (4) is the one to watch. As you can see, the candles are far away from the blue line on that great run long. Stay in the trade. As it starts to peak, they move closer to the blue line and the run may be over. Most times there isn't as much as a gap between the candles and the blue line. But the stronger the run, the larger the gap. Sorry to say this all the time, but paper trade. That is where I build my confidence.
  • #202
  • Jun 20, 2007 9:57am Jun 20, 2007 9:57am
I have notice that the histogram changes depending on what your zoom is. What is the best zoom to look at? I have attached pictures to show the differences I see. These are taken at exactly the same time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: zoom.jpg Size: 67 KB
Click to Enlarge Name: zoomminus1.jpg Size: 76 KB
  • #203
  • Jun 20, 2007 10:06am Jun 20, 2007 10:06am
Thanks pip pirate2, that is a good explanation and helped a lot.


Quoting pip pirate 2
Maybe this will help. Now last night there was a big news event for the gbp pairs. So you knew there could be some big moves for a while. I couldn't stay up to watch it. On the H1 chart, remember that moves here usually will last for several hours. So the up arrow on the chart is when the news hit. See how that candle went up and down a lot with a large tail on the up side. I would not want to enter there with so much movement up and down. I want better candles. The next candle was at 9GMT, a half hour after the news. See how that candle started at the top of the previous candle and then continued long. Now I am interested. You also have to know what session you are trading in. Trade with the trend. This is real common in the london session. Now you see at the down arrow shows the blue arrow turning and going short. This indicates that there is a "potential" reversal going to come in the future. But not right now. So move your stops up as you are making pips and watch the pairs. You have a spinning top candle, then a good long candle, then a short candle. This is also why I like to have a macd also to tell me how the pair is moving. If you like you can also go down to a M30 chart for your exit. It takes time and paper trading. Since the larger charts and time frames have fewer moves a month, it may take you a few months of practice to get this down. That is one of my favorite things knowing the market will be there and there is always another move. When I am ready, the pips will flow. Personally at this time, the pair has moved 70+ pips. Take it. Not a bad day. Beats having a job.
  • #204
  • Jun 20, 2007 10:22am Jun 20, 2007 10:22am
Hi,

how are you today, about the exit i dont go to smaller timeframes because they could change a lot, maybe 30mins could be, but i guide with the adx and the lsma the color tells me when to stay or go out, as today pip mentioned, the quick moves early we had, i was inside of them tricky all went down and then turned around all, uncrossing, so what i do is to move the stoploss to breakeven as soon as i can got the entry as soon as i saw it, many times it works well but today it did not, so well zero the first 3 shorts, but then god is good and gave us several signals i am just closing them, let me see.

gbpjpy +90 pips
usdjpy +12
gbpusd +30
eurjpy +2
  • #205
  • Jun 20, 2007 10:37am Jun 20, 2007 10:37am
Thanks blanca, please keep posting few charts as well, as I can see, in live trading, this is like magic, but we have to learn a lot from you.

Quoting blanca
Hi,

how are you today, about the exit i dont go to smaller timeframes because they could change a lot, maybe 30mins could be, but i guide with the adx and the lsma the color tells me when to stay or go out, as today pip mentioned, the quick moves early we had, i was inside of them tricky all went down and then turned around all, uncrossing, so what i do is to move the stoploss to breakeven as soon as i can got the entry as soon as i saw it, many times it works well but today it did not, so well zero the first 3 shorts, but then god is good and gave us several signals i am just closing them, let me see.

gbpjpy +90 pips
usdjpy +12
gbpusd +30
eurjpy +2
  • #206
  • Jun 20, 2007 11:17am Jun 20, 2007 11:17am
piptrader pls can u post a copy of d macd u r using.

@ blanca
nice trades, do u use any other indicator apart from d dollie n adx?

my major problem is d entry, i have discovered that for explanations, posting charts after d trade is ok, but d entries shown is quite different from d entry during live trading! the major reason is because all indicators r using diffence reference levels n u can find d lsma shifting to a better entry position as d trade progresses which can be very misleading. still trying to understand d entry point.

who knows a free program i can use to record d chart in realtime as d trade progresses so i can compare with blanca's entries n exits by doing a playback?
  • #207
  • Jun 20, 2007 1:19pm Jun 20, 2007 1:19pm
Blanca,

If you are going long do you always wait for the LSMA to turn yellow to exit or are there other determining factors for you to decide whether or not to exit such as the blue and white line entering the Overbought zone. The reason why i ask is because i have seen myself be in a trade and the blue and white go up into the OB Zone but the LSMA is still showing green.

Another question is you mentioned that you use LSMA and ADX as a guide. Do you use ADX 2 or 13 and are there any particulars that you use to exit using the ADX. Thanks
Live today as if you will stand before God tomorrow.
  • #208
  • Jun 20, 2007 1:51pm Jun 20, 2007 1:51pm
Hi, Try the product from www dot techsmith dot com , you may like it as this is being used by many.


Quoting geezng
piptrader pls can u post a copy of d macd u r using.

@ blanca
nice trades, do u use any other indicator apart from d dollie n adx?

my major problem is d entry, i have discovered that for explanations, posting charts after d trade is ok, but d entries shown is quite different from d entry during live trading! the major reason is because all indicators r using diffence reference levels n u can find d lsma shifting to a better entry position as d trade progresses which can be very misleading. still trying to understand d entry point.

who knows a free program i can use to record d chart in realtime as d trade progresses so i can compare with blanca's entries n exits by doing a playback?
  • #209
  • Jun 20, 2007 2:40pm Jun 20, 2007 2:40pm
hi, let me post my last trade today eurjpy short

Look the first thing it happens is the cross of the blue and white down the zero line, then inmediately the lsma crosses the pink line, at that moment i go short 165.69 then keep there until lsma changes colour and i see the adx 2 too, for the exit, you can see it right now live, its happening.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 25 KB
  • #210
  • Jun 20, 2007 4:18pm Jun 20, 2007 4:18pm
Blanca, please correct me if I am wrong. I have posted the image with better markers to ensure if this was your Exact ENTRY point to go SHORT on this pair i.e.

Here is my understanding of your current trade:

1) First the Blue and White line went below Zero
2) You waited until LSMA crosses the PINK line. (Right at this moment you went SHORT.
3) You stay in the trade until the LSMA goes OVERSOLD i.e. below level 10 and still stay in the trade until LSMA changes color from RED to yellow.

Thanks for your input.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.jpg Size: 155 KB
  • #211
  • Jun 20, 2007 5:20pm Jun 20, 2007 5:20pm
[quote=geezng;1471834]piptrader pls can u post a copy of d macd u r using.

@ blanca
nice trades, do u use any other indicator apart from d dollie n adx?

my major problem is d entry, i have discovered that for explanations, posting charts after d trade is ok, but d entries shown is quite different from d entry during live trading! the major reason is because all indicators r using diffence reference levels n u can find d lsma shifting to a better entry position as d trade progresses which can be very misleading. still trying to understand d entry point.

Here is a copy of the macd. One of the problems with making a copy of the entry for me is I am in the trade and not focused on doing anything else. You have to develop a feel for this. I don't know how long you have been trading, but I would recommend that you get a broker that does microlots so you can practice with real money but it's a dollar or less. It really helps.
Attached File(s)
File Type: mq4 MACD_H4_300_v100.mq4   3 KB | 506 downloads
  • #212
  • Jun 20, 2007 5:38pm Jun 20, 2007 5:38pm
exactly thats the entry, and exited when the lsma turned yellow, first glance +25
  • #213
  • Edited 1:49am Jun 21, 2007 12:41am | Edited 1:49am
hi,

today a small long gbpjpy 246.28

then later eurjpy short 165.54
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 43 KB
  • #214
  • Jun 21, 2007 2:46am Jun 21, 2007 2:46am
cable is ready for a short? Am I correct?
  • #215
  • Jun 21, 2007 5:22am Jun 21, 2007 5:22am
yes mega, in fact it was short at 1.9907 and then later turned back i got out at -5 and the other first two at +5 and +5, very very small profits
  • #216
  • Jun 21, 2007 5:46am Jun 21, 2007 5:46am
Thanks blanca, I managed to take +6 on that trade, also I believe cable is going to have more downswings from now on. Let's see.

Quoting blanca
yes mega, in fact it was short at 1.9907 and then later turned back i got out at -5 and the other first two at +5 and +5, very very small profits
  • #217
  • Jun 21, 2007 6:07am Jun 21, 2007 6:07am
long gbpjpy 246.25
long cable 1.9919 both still running.
  • #218
  • Jun 21, 2007 7:10am Jun 21, 2007 7:10am
gbpjpy -7 loss
gbpusd +2, what a slow day even with news.
  • #219
  • Jun 21, 2007 9:03am Jun 21, 2007 9:03am
I have been following this thread for a while and have been papertrading with some success. I am interested in sometthing Blanca said about exiting a trade when the lsma turns to yellow.
Watching the charts, it seems that very often the lsma changes colour and back again several times over a short period of time . Could i ask whether you exit on the first sign of the colour change (potentially moving in and out of trades) or wait to see the colour at the close of the candle
I am very exited about this method and think it could be very profitable for me if i could iron out a few wrinkles.
  • #220
  • Jun 21, 2007 9:23am Jun 21, 2007 9:23am
Quoting forexstacy
I have been following this thread for a while and have been papertrading with some success. I am interested in sometthing Blanca said about exiting a trade when the lsma turns to yellow.
Watching the charts, it seems that very often the lsma changes colour and back again several times over a short period of time . Could i ask whether you exit on the first sign of the colour change (potentially moving in and out of trades) or wait to see the colour at the close of the candle
I am very exited about this method and think it could be very profitable for me if i could iron out a few wrinkles.
Glad to hear from you and I am very happy that you are paper trading. Maybe I can answer your question. If you notice the lsma is like a moving average as its shape rolls with the pair. So the yellow is a caution sign. I believe and I know Dollie does that you want to use many indicators to make this decision. Let's make an example: Say the pound has run 30 pips on the H1. All of these questions need to be answered first (that's why trading is hard): How long has this run been going? Is there support or resistance near by? What is my profit target? What does the candle look like before this and how is this one shaping out to be? What does another indicator like the macd say? Is this the first wave and could there be a second? Is it with the trend? Is the trend strong? What time of day is it (as it is very important to know this)? Are we at the end of a session, US or london or is this normally a busy time? What are the parallel pairs doing or other pairs with the same currency in it as the one you are trading? The answer is to remember that you can't go broke taking a profit. What will happen is that you can miss some big moves by getting out too early. You can always get back in if you think it is right. But the art of the exit takes time, maybe years to perfect.
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