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Dollie's Safe Pips Indicator

  • #341
  • Jul 30, 2007 11:48am Jul 30, 2007 11:48am
You are so right. You are getting it and that is a perfect setup. I am jealous of those of you that live in the european time zone to trade this. Here is my trade summary for the month of July, which is the best I have ever done due to this system. I had 73% positive trades, 5% breakeven, and 18% losses (these numbers are approximate). Half of those losses I was not upset with as they had broken thru solid support levels and I would have done those trades again as they followed my rules. Sometimes those trades just don't work. But I am very happy with Dollie and this system.
  • #342
  • Jul 30, 2007 4:09pm Jul 30, 2007 4:09pm
Quoting pip pirate 2
You are so right. You are getting it and that is a perfect setup. I am jealous of those of you that live in the european time zone to trade this. Here is my trade summary for the month of July, which is the best I have ever done due to this system. I had 73% positive trades, 5% breakeven, and 18% losses (these numbers are approximate). Half of those losses I was not upset with as they had broken thru solid support levels and I would have done those trades again as they followed my rules. Sometimes those trades just don't work. But I am very happy with Dollie and this system.
Hi PP2

Don't worry, we are "almost" in the same boat. I can only trade "seriously" after 15H00GMT. Because I do have a full time job. Sometimes I can put in a trade during office hours.

After tomorrow I'll see what my summary looks like. Luckily I had a few chats with Dollie and she motivates me to use the system. In the begining it was way too complicated but you just need to concentrate and know your market/pairs. Which I am busy learing through the 4h, 15min & 5min systems of Phillip.

Speaking of Dollie - I'll think I'll give a call/chat in the near future to thank her again.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #343
  • Aug 1, 2007 1:17am Aug 1, 2007 1:17am
The outcome of the first month of trading this system with a demo account after about 2 months of studying and backtesting.

I am just stuggling with the entry points but I am trying now to combine Phillip Nel's 5min system as well as his 4hMACD to determine the entry point.

9 positive trades - not to bad for a novice. My main trading times are after 15H00GMT - the reasons for the small profit margins.
Attached File(s)
File Type: zip Outcome 200707 Dollie no time.zip   5 KB | 436 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #344
  • Aug 1, 2007 7:23pm Aug 1, 2007 7:23pm
I think I mentioned this before but I have been studying how the macd's react before a big move. It appears in my research that the zerolag macd's will get very small or almost non-existant before a move. They can do this up to 4 time frames before the move or mostly right before the move. It is like the market suddenly gets quiet and no one is buying, then pow! So you can use this as another type of indicator to confirm the move is going to be good. As usual, no buy, sell or hold recommendations and you should always paper trade this first.
  • #345
  • Aug 1, 2007 10:26pm Aug 1, 2007 10:26pm
And trade #10 on Cable yesterday. Just the 5min chart and 4h chart to show the enter fot those who are familiar with Philip Nel's 5min and 4h MACD system. I'll wait for a 21MA or 50SMA break on the 5min and on the 4H MACD a bounch of the 21MA.

20pips profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200700801 Dollie enter on 5min.jpg Size: 83 KB
Click to Enlarge Name: 200700801 Dollie enter on 4h.jpg Size: 84 KB
Click to Enlarge Name: 200700801 dollie enter & exit trade.jpg Size: 102 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #346
  • Aug 3, 2007 3:31am Aug 3, 2007 3:31am
Hi: I guess my question would be directed to Pip Pirate 2 since it appears that you are the expert on this system. I am a very new trader. It appears like this is a system I can handle. I just want to comfirm something,

We wait until the Blue and Pink lines cross and then wait for the white dotted line to go up and perferably above zero and then we enter a "buy" is that correct? Are all entries Buys or is there Short entries as well?

Thanks
Spent
  • #347
  • Aug 3, 2007 11:04am Aug 3, 2007 11:04am
Quoting spent
Hi: I guess my question would be directed to Pip Pirate 2 since it appears that you are the expert on this system. I am a very new trader. It appears like this is a system I can handle. I just want to comfirm something,

We wait until the Blue and Pink lines cross and then wait for the white dotted line to go up and perferably above zero and then we enter a "buy" is that correct? Are all entries Buys or is there Short entries as well?

Thanks
Spent
Welcome to the crazy and wild but we love it world of forex. As a new trader there are two parts to your answer. First I will answer your question. Look at the post #318 as a great example of the triple hull for the move long on the left side. Yes you want the pink and blue to cross but you also want all three dotted lines to be inside of the two lines. It is the shape of the triple is very important. I personally would not wait until it hits the zero line as you will miss most of the move. This system (as I hope you have read all the posts) is using several indicators to confirm the move. On this example the dynamic zone green line is looking very good as it has some distance from the blue line and has a good angle. Also the zerolag macd has a flat candle right before the move. So by looking at all of these indicators you can feel more confident. There are short trades also.

Now for the second and most important part. If I could start over and be a newbie, this is what I would do. Trading is 90% mental. It's not having a great system it is how you think. Read all the books you can. Trading in the zone by Mark Douglas is a must. Trend Following by Michael Covel. Then read a book about candle formations like Candlestick Charting Explained by Morris. If you have a good library you can read for free all the books on trading even if they are about stock trading. Work on your thinking any way you can. Then I would paper trade for 6 months or more. Then do microlots where you invest $1 at a time. It sounds funny but it really matters. Remember this: once you have it figured out and then you make paper money for months in a row then get in. Take notes and start a journal where you write down the prices of many pairs and thoughts that you have. I have taken notes for years and what happens is that suddenly you will see a pattern or something will now make sense; and then you can go back over your notes to confirm your new idea. The challenge with forex is that news events happen only once a month so it takes many months to understand how it works. Please don't jump in too soon like most of us did. Most traders never make it because they trade real money too soon, lose it all and quit. Finally, realize that it will take you a few years to learn how to trade. You are a freshman going back to school. Remember, 95% of the population is going to retire broke. So if you want to be successful it is very easy; find out what everyone else is doing and do the opposite. Be ready to hear from friends that you are crazy and "are you making a million dollars yet". Don't listen.


Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
  • #348
  • Edited 3:10pm Aug 3, 2007 2:50pm | Edited 3:10pm
My trade today after the NFP release.

A. The Green line is coming out of the oversold area and crossed the blue line. My first criterion what I am looking for.

B. lsma turned green and DX+ (blue) crossed the DX- upwards. Ideally I would like to see the lsma cutting in between the two lines like this one.

C. ZeroLag turned to the upside (still struggling a bit to read/use this indicator)

D. Triple showed a nice upward move with ---lines nicely between the two lines and crossing the 0 line.

E. And a bounch of the daily pivot line.

An entry on the previous candle would have given you another 12pips extra.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070803 dollie ey trade 1.jpg Size: 99 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #349
  • Aug 3, 2007 3:07pm Aug 3, 2007 3:07pm
Quoting pip pirate 2
Welcome to the crazy and wild but we love it world of forex. As a new trader there are two parts to your answer. First I will answer your question. Look at the post #318 as a great example of the triple hull for the move long on the left side. Yes you want the pink and blue to cross but you also want all three dotted lines to be inside of the two lines. It is the shape of the triple is very important. I personally would not wait until it hits the zero line as you will miss most of the move. This system (as I hope you have read all the posts) is using several indicators to confirm the move. On this example the dynamic zone green line is looking very good as it has some distance from the blue line and has a good angle. Also the zerolag macd has a flat candle right before the move. So by looking at all of these indicators you can feel more confident. There are short trades also.

Now for the second and most important part. If I could start over and be a newbie, this is what I would do. Trading is 90% mental. It's not having a great system it is how you think. Read all the books you can. Trading in the zone by Mark Douglas is a must. Trend Following by Michael Covel. Then read a book about candle formations like Candlestick Charting Explained by Morris. If you have a good library you can read for free all the books on trading even if they are about stock trading. Work on your thinking any way you can. Then I would paper trade for 6 months or more. Then do microlots where you invest $1 at a time. It sounds funny but it really matters. Remember this: once you have it figured out and then you make paper money for months in a row then get in. Take notes and start a journal where you write down the prices of many pairs and thoughts that you have. I have taken notes for years and what happens is that suddenly you will see a pattern or something will now make sense; and then you can go back over your notes to confirm your new idea. The challenge with forex is that news events happen only once a month so it takes many months to understand how it works. Please don't jump in too soon like most of us did. Most traders never make it because they trade real money too soon, lose it all and quit. Finally, realize that it will take you a few years to learn how to trade. You are a freshman going back to school. Remember, 95% of the population is going to retire broke. So if you want to be successful it is very easy; find out what everyone else is doing and do the opposite. Be ready to hear from friends that you are crazy and "are you making a million dollars yet". Don't listen.


Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
PP2

Well said - and it is really good advice. I am now busy with my 4th year in forex trading (only part time) and I've blown 2 mini accounts because I didn't have patience and didn't use money management principle.

Now I am trading in mini lots once again using a mini account untill I feel comfortable with my system/s. Just look at my results for July Post #343 on previous page) and you'll see that I only trade 0.4 lots because my SL is around 15pips and my account is $500. I'll only risk 1.5% of my capital on any trade.

I do have an excel spread sheet to determine the number of losts I can trade taking into account the SL in pips and capital in my account. It is very, very, very important. I can put on the thread if anyone is interested.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #350
  • Aug 4, 2007 1:19am Aug 4, 2007 1:19am
Yesterday my trade on $Y after the NFP. Almost the same as my EURJPY trade posted earlier on this page. I put a TP at 15pips and it just reached it before turning downwards.

Only the ADX was not in line for this trade but I do like it when the green line of the Dynamic is coming out of the oversold area and crosses the blue line. Also on the Triple - both the blue and purple line are near the 10 line and have turned to show ut something is going to happen. Just look at how the purple is staying flat around the 0 line for the most of the day and the small candles on the ZeroLag - stay away.
Attached Image (click to enlarge)
Click to Enlarge Name: 200700803 dollie $y trade 1.jpg Size: 98 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #351
  • Aug 6, 2007 9:56am Aug 6, 2007 9:56am
My trade today on cable - afterwards I've realised that after such a strong downward move, don't expect a bounch back. On the 4h chart there was a support line (nearby) that I've drawn and I though it will hold. Seems like it is holding but no bounch upward.

My aim was the S1 pivot line - some 25pips away with a SL of 15pips. Counter trend trades are not that easy and one should be careful. Much easier when the market is "range bound"

Just one of those trades - back to earth after Friday's run!!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 200700806 cable dollie trade 1 entry.jpg Size: 100 KB
Click to Enlarge Name: 200700806 cable dollie trade 1.jpg Size: 98 KB
Click to Enlarge Name: 200700806 cable 4h chart.jpg Size: 87 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #352
  • Edited 3:04pm Aug 6, 2007 2:37pm | Edited 3:04pm
The trade on EURJPY: 30pips with first half and 90pips with second half = 60pips nett.

My entry was way too late - ADX crossed in to between the -DX & +DX could have been the signal. Also Triple's ---lines crossed the 0 line. I also could have waited for the price to bounch of the 21MA

No 14 was just a few minutes after this trade on EUR$ and resulted in 10pips profit.

Still on demo trading until I do get confident with this system. Even after results like this one still needs to practise.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20070806 ey dollie trade 1.jpg Size: 96 KB
Click to Enlarge Name: 20070806 ey dollie trade 1 on 5min chart.jpg Size: 72 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #353
  • Aug 6, 2007 2:45pm Aug 6, 2007 2:45pm
Hi, Golfer! Could you please give me your indicators and template or tell where I can find them for the Dollie system, I'd like to try it too.
  • #354
  • Edited 7:06pm Aug 6, 2007 6:37pm | Edited 7:06pm
Has anybody noticed that there is nothing we can call an ACTUAL cross of the RSi and Absolut Strength Histo???

This is just an eye illusion. Look at the data window and try to figure out....And that is the reason why an expert advisor cannot be written for this. If someone is using a wider screen and the other one smaller the crosses you claim happen at different candle times....

I have done this fault long before and was thinking I had found a good working solid strategy but at the end I realized it was a huge mistake......

Blue and the pink lines DO NEVER CROSS

Correct me if I am wrong please...
  • #355
  • Aug 6, 2007 8:09pm Aug 6, 2007 8:09pm
Quoting brok
Has anybody noticed that there is nothing we can call an ACTUAL cross of the RSi and Absolut Strength Histo???

This is just an eye illusion. Look at the data window and try to figure out....And that is the reason why an expert advisor cannot be written for this. If someone is using a wider screen and the other one smaller the crosses you claim happen at different candle times....

I have done this fault long before and was thinking I had found a good working solid strategy but at the end I realized it was a huge mistake......

Blue and the pink lines DO NEVER CROSS

Correct me if I am wrong please...
I have been working with this system for a few months and am no expert and definately not a computer expert at all. But maybe I can correct a few things and get you to see the bigger picture. First off the blue line is the RSI and the pink line is not a part of triple hull but LSMA. And I don't understand when you say they don't cross as they do dozens of times a day. Also I think anyone trying to write an expert advisor on this is wasting their time (just my opinion). It isn't necessary. As I have stated before, if you are very part time trading you can use this system with bigger time frames like H4 and Daily to make your pips. For daily traders like me it is excellent like it is. I couldn't trade today but have 4 positive trades, two break evens and no losses this month. Finally the look of the triple hull is way more important than any small details and you must use the dynamic and other indicators to confirm the trade anyway. You'd have to write an expert advisor for all the indicators. Why not paper trade like Golfer and just make pips? This system has changed my life and Blanca's too.
  • #356
  • Aug 6, 2007 8:14pm Aug 6, 2007 8:14pm
Quoting alexfot
Hi, Golfer! Could you please give me your indicators and template or tell where I can find them for the Dollie system, I'd like to try it too.
Start looking at post #296 and continue from there to the end. You will learn the new system and the rules for trading it.
  • #357
  • Aug 6, 2007 10:18pm Aug 6, 2007 10:18pm
Quoting pip pirate 2
Start looking at post #296 and continue from there to the end. You will learn the new system and the rules for trading it.
Hi PP2

Thanks for the info. I had a Skype chat with Alexfot yesterday and suggested the very same. Now we are waiting for his charts and trades.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #358
  • Aug 7, 2007 6:08pm Aug 7, 2007 6:08pm
Quoting pip pirate 2
Start looking at post #296 and continue from there to the end. You will learn the new system and the rules for trading it.
Thank you PP2 , I'll do that.
  • #359
  • Aug 8, 2007 2:43pm Aug 8, 2007 2:43pm
A very interesting trade today after a strong uptrend. I took the odds on and took the short signal. My daily R2 was the aim and at one stage I thought it is not going to make it because of the lack of movement. The reason why I closed half my position after 13pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20070807 $y dollie trade 1.jpg Size: 92 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #360
  • Edited 3:10pm Aug 8, 2007 2:58pm | Edited 3:10pm
Another trade today but this time I decided that this one is not going anywhere. Look at Triple - purple line starting getting flat. I decided to take my 5pips profit and don't take on the odds. The 5min chart showed the same pattern -price moving up and down in a channel of about 8pips. Could go any direction now. But the price is still below the 50SMA - favour the short/down move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20070808 e$ dollie trade 1.jpg Size: 95 KB
Click to Enlarge Name: 20070808 e$ dollie trade 1 5min chart.jpg Size: 75 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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