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Dollie's Safe Pips Indicator

  • #221
  • Jun 21, 2007 9:41am Jun 21, 2007 9:41am
Haven't posted in this thread before but have been messing around with this indicator for a while, and I like it. I caught 17 pips this morning on the GU and I'm getting ready to exit this trade over 50 pips on the EURCAD.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.jpg Size: 86 KB
Life is too short to have anything but delusional notions about yourself.
  • #222
  • Jun 22, 2007 5:46am Jun 22, 2007 5:46am
hi ,

today results

gbpjpy long 246.97 +32 pips
eurjpy long 166.02 +63 still open
gbpusd long 1.9927 +30 still open
usdjpy long 123.95 +2 pips
eurusd long 1.3403 open
  • #223
  • Jun 22, 2007 5:52am Jun 22, 2007 5:52am
I like this method, I am even starting to figure out when to get in a trade. I will admit that I have a hard time walking away from my computer when trading the 1hr and 4hr charts but I am learning.

EUR/JPY +111 pips and still open.

Thanks You Thank You Thank You

kevin
  • #224
  • Jun 22, 2007 6:15am Jun 22, 2007 6:15am
A good day for this week.
  • #225
  • Edited 6:27am Jun 22, 2007 6:22am | Edited 6:27am
Quoting blanca
hi ,

today results

gbpjpy long 246.97 +32 pips
eurjpy long 166.02 +63 still open
gbpusd long 1.9927 +30 still open
usdjpy long 123.95 +2 pips
eurusd long 1.3403 open

1) Hey Blanca, did you sleep last night!!??? because the entries that you took probably are around 2:00am EST if I am not mistaken.

2) Question for you Blanca:
I noticed the GBPUSD entry that you took was taken half was into the actual move which roughly took place around 1:30GMT when the price was on or about 1.9914 however you entered a little late around 5:00GMT at 1.9927, where you picked up half of the move. Could you please shed some light on this ?
Similar half move entries with EUR/USD, USD/JPY, BP/JPY and EUR/JPY pairs.
You are a PRO at this, perhaps we could learn something from your insight.

One thing I wanted to add is EXITing out of a trade which is a challenge for us, I read an earlier post where PP2 has shared his thoughts regarding this challenge which I would agree, however, I would still like to have some positive idea on how to EXIT a winning trade with maximum pips rather than taking a few pips and then see the RUN goes through 50 or 60 pips higher.


Thanks!
  • #226
  • Jun 22, 2007 6:27am Jun 22, 2007 6:27am
yes indeed, i did not sleep last night i am about to go to bed, even though cable and euro are still open but very good results in that one you mention yes i took it late, when so many signals appear at the same time i dont see them all very well, but anyway good day. also at that hour i wake up, little late.
  • #227
  • Jun 22, 2007 6:56am Jun 22, 2007 6:56am
USD/CAD is setting up for a good Dollie SHORT trade as at 9:56am EST.
Does any body see this.
  • #228
  • Jun 22, 2007 8:04am Jun 22, 2007 8:04am
this set up looks far easier to work with historically than in real time.I entered a sell trade on the usd/jpy as the lsma crossed between pink and blue, only for it to turn back. It appears to me that it would be better only to trade in the direction of the trend on the daily chart (when working with the 1h chart). Would you good people agree with that sentiment or, do you think it could lead to missing out on some valuable pips.
Blanca seems to have this licked but i can't see that she just goes on the lsma cross and gets it right so often
any ideas?
  • #229
  • Jun 22, 2007 8:32am Jun 22, 2007 8:32am
Quoting forexstacy
this set up looks far easier to work with historically than in real time.I entered a sell trade on the usd/jpy as the lsma crossed between pink and blue, only for it to turn back. It appears to me that it would be better only to trade in the direction of the trend on the daily chart (when working with the 1h chart). Would you good people agree with that sentiment or, do you think it could lead to missing out on some valuable pips.
Blanca seems to have this licked but i can't see that she just goes on the lsma cross and gets it right so often
any ideas?
--
I agree with your first sentence. You enter a trade based on the dollie method and the trade starts going against you and you are on a roller coaster ride with heart wrenching if you are playing with a live account.

Actually if you open a smaller timeframe chart such as 1min or 5min, you will notice that the price retraces a little bit before it starts moving in the direction of your ENTRY.
Nonetheless, over a 1 hour period if you leave the trade running (use a DEMO account please!) you will notice that price does move in the direction of your entry.
Try it out and please post your results.
  • #230
  • Edited 11:25am Jun 22, 2007 11:03am | Edited 11:25am
Every strategy will have some losing trades, so stoploss is a must. Here is an indicator which will give an idea of main trend, so to be on safe side, if you take only the signals of this great dolly method, along with this indicator (in a 1H timeframe), losing trades will be much reduced. I am using it for some time now and it filtered out small trends against the major trend. Please check and post comments if any.

Quoting forexstacy
this set up looks far easier to work with historically than in real time.I entered a sell trade on the usd/jpy as the lsma crossed between pink and blue, only for it to turn back. It appears to me that it would be better only to trade in the direction of the trend on the daily chart (when working with the 1h chart). Would you good people agree with that sentiment or, do you think it could lead to missing out on some valuable pips.
Blanca seems to have this licked but i can't see that she just goes on the lsma cross and gets it right so often
any ideas?
Attached File(s)
File Type: mq4 stepma.mq4   6 KB | 702 downloads
  • #231
  • Jun 22, 2007 12:42pm Jun 22, 2007 12:42pm
Quoting MegaPips
Every strategy will have some losing trades, so stoploss is a must. Here is an indicator which will give an idea of main trend, so to be on safe side, if you take only the signals of this great dolly method, along with this indicator (in a 1H timeframe), losing trades will be much reduced. I am using it for some time now and it filtered out small trends against the major trend. Please check and post comments if any.
Thanks for the indicator. Are you using the default settings for the indicator and do you overlay it over you absolute indicator. Thanks again. God Bless
Live today as if you will stand before God tomorrow.
  • #232
  • Edited 1:42pm Jun 22, 2007 1:08pm | Edited 1:42pm
Hi, I use the default settings, in a 1H timeframe. I do not overlay it with absolute indicator window. I put this signal in the main price window. If you look, you will see the overall main trend. You may use it for long term trading as well.

Quoting Pippy Cent
Thanks for the indicator. Are you using the default settings for the indicator and do you overlay it over you absolute indicator. Thanks again. God Bless
  • #233
  • Jun 22, 2007 1:22pm Jun 22, 2007 1:22pm
the big trend indicator also helps to see the main trend, or any othe trend indicator works
  • #234
  • Jun 22, 2007 4:26pm Jun 22, 2007 4:26pm
Quoting MegaPips
Hi, I use the default settings, in a 1H timeframe. I do not overlay it with absolute indicator window. I put this signal in the main price window. If you look, you will see the overall main trend. You may use it for long term trading as well.
Ok. Thanks i look forward to trying it.
Live today as if you will stand before God tomorrow.
  • #235
  • Jun 23, 2007 12:16pm Jun 23, 2007 12:16pm
Good to see all the familiar names in this thread. I've talked to HelloDollie on Skype last week and I decided to give this method a go.

I backtested the system on the Cable using a 1h chart with a 30pips SL for each trade. I just took the possible trades (all possible trades - not just the safe trades) in the London & NY session (7H00-20H00GMT)(when I am able to trade).

The results were unbelievable!

43 trades in total
31 positive trades (72%)
7 negative trades
5 BE trades

Total of 962pips profit.
Average = 38pips profit per trade

Just some interesting stats. These results are just a rought backtest and didn't really take the spread into account. But it will give you a indication of the success of the system.

Well done Dollie!! and I'll talk to you during the week.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #236
  • Jun 23, 2007 12:37pm Jun 23, 2007 12:37pm
Quoting Golfer
Good to see all the familiar names in this thread. I've talked to HelloDollie on Skype last week and I decided to give this method a go.

I backtested the system on the Cable using a 1h chart with a 30pips SL for each trade. I just took the possible trades (all possible trades - not just the safe trades) in the London & NY session (7H00-20H00GMT)(when I am able to trade).

The results were unbelievable!

43 trades in total
31 positive trades (72%)
7 negative trades
5 BE trades

Total of 962pips profit.
Average = 38pips profit per trade

Just some interesting stats. These results are just a rought backtest and didn't really take the spread into account. But it will give you a indication of the success of the system.

Well done Dollie!! and I'll talk to you during the week.
good work golfer! but i hope u dint just scroll bak to do your baktest cos the indicators change position as u scroll.

the best way to baktest this system is to use the strategy tester in mt4 using visual mode. u will c d dollie movements in real time which will give u accurate baktest result.
  • #237
  • Jun 23, 2007 12:50pm Jun 23, 2007 12:50pm
Quoting geezng
good work golfer! but i hope u dint just scroll bak to do your baktest cos the indicators change position as u scroll.

the best way to baktest this system is to use the strategy tester in mt4 using visual mode. u will c d dollie movements in real time which will give u accurate baktest result.
Hi Gee

That is what I am going to do from next week on. I don't really like backtesting but it gives one an idea of a system. That is usually my first step.

The next step is to do actual trading on a demo account. I don't believe in paper trading - only the real thing.

Lets see how it does - Cable on a 1h chart.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #238
  • Jun 23, 2007 5:55pm Jun 23, 2007 5:55pm
Dollie, PP or Blanka,
I hope that one of you can help me and FXSurfer. Just like FXSurfer in post#25, I have the same problem - the zero line for CCI is not centered between the RSI 10 & 90. In some posts the zero is centered and lately in PP's posts the zero is not centered. I do like the system very much, but this issue is confusing me. Can anybody confirm what is the correct setting? Nobody had the answer for FXSurfer, I hope that I will get the answer.
Thanks.
Happy piping to all.
Pluto2
  • #239
  • Jun 23, 2007 6:49pm Jun 23, 2007 6:49pm
The 10 and 90 lines if you scroll backwards and forwards you will see that they move up and down relative to price action or relative strength; but they don't stay in the same position unlike the CCI lines. Is this normal or by design? I don't know.
  • #240
  • Jun 23, 2007 11:01pm Jun 23, 2007 11:01pm
Quoting Pluto2
Dollie, PP or Blanka,
I hope that one of you can help me and FXSurfer. Just like FXSurfer in post#25, I have the same problem - the zero line for CCI is not centered between the RSI 10 & 90. In some posts the zero is centered and lately in PP's posts the zero is not centered. I do like the system very much, but this issue is confusing me. Can anybody confirm what is the correct setting? Nobody had the answer for FXSurfer, I hope that I will get the answer.
Thanks.
Happy piping to all.
Pluto2
Nice to see that the thread and method have taken off!

Are the indicator overlays still sort of "floating" on top of
each other? Maybe I just don't have it set up right.

What's the latest "base" system that everyone's using?
Does anyone have a moment to post a chart and list indicators
and their settings? or maybe just a template is easier.

Many thanks!

FXS
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