Dollie's Safe Pips Indicator

Hi Jake

I think I got it.

I'm looking forward to trying this out.


Thanks again

Derm

Hi Jake

Here's an indicator you may be interested in as extra (if needed) confirmation that the price is going upwaard.

It's Laquerre, I have set the gamma to 0.55.

It can be used stand alone to buy at .15 going up and exiting at .85 on way down after peak or sell at .85 coming down and buy at .15 when it goes back from base.

It can sometimes keep you in the trade longer as when price is continuing upwards it will stay at or near 100, and likewise at or near 0 when price is heading downwards.

Can be a very powerful with the trend, but take extra care when going against the trend.

Derm

Someone nicked my chart!!!! Ah there it is

The gamma setting on the Laguerre can be changed for signals on different timeframes. I have been playing with for a few weeks now but still not sure of the best settings!! I will keep testing.

Hope this is of use


Derm

Derm,

attached is a quick trade for 5 pips. Since you are new to this I don't recommend you start with the 1min charts. Start with the 5min charts while you papertrade a little so you can see the indicators live. The LSMA indicator window is tricky and adjusts in realtime and this can be misleading when you back test this method. The attached trade is more on line of what I get throughout the day.

I use MB Trading as my platform. They give very small spreads (1 & 2 on everything I trade) except the GBP/JPY (usually 4-5 spread). They do charge a comission that roughly equals 1 pip. I have built up enough money that allows me to trade 100,000 lots now so these little moves add up to a few hundred bucks a day and on days like this week when the Yen is going crazy $1,000+.

I started only trading 20,000 lots per trade and did that for 3 months. As I got more comfortable with this system and confident with the real time results I started to increase my lot size gradually. I honestly can say that when I see a trigger I go for it. I always get out of a trade once I am down 10 pips... ALWAYS!!! Does the market sometimes turn around? Of course it does but sometimes it doesn't and then next thing you know your down 30 pips and when you are scalping that sucks.

Good Luck and I hope this is all helpful.

Good Luck

Derm: Welcome to the posts. Yes it has been lonely with just eyevoltage and me just posting. Paper trade for months first so that you can figure out what works for you. Look forward to more messages.

Hi Jake

Here's one using the lag.

The Dollies indicated that there could have been a move coming with the blue crossing up over the pink and the lsma coming up into the 'zone' and changing colour. Also the lag had indicated that there was movement upwards.

On this occassion the ADX was hardly above the 45 line.

I often Buy the lag at .15 up and sell at .85 down in an uptrend and sell .85 down and buy .15 up in a downtrend. This indicator has worked very well for me especially on the Yen crosses, which I assume you like to trade as per your charts.

I prefer to scalp. Although I am fairly new to this, I do this full time and have had enough of spending hours and hours on a daily basis glued to the screens. In, out take the money!! I work on a max 15 pips sl with the lag, there are losing trades but not many.

having said that, sometimes (espeially if its a trading day) the lag will stay glued to the top or bottom for many bars, when this happens it can be possible to lock in profit and then go to a higher tf and get the bigger moves from a trade that started as a scalp.


Happy pipping mate


Derm

I love this thread. Dollies system saved my account and that is the truth. I should post more often but I get too caught up in trading and making money!!!

Hi Pip

Thanks for the welcome, and thank you once again for your efforts in keeping this thread alive.

Thank you for your advice, and I know that everyone preaches paper trading and demo trading but I am off the ilk 'no pain no gain'.

Now I am not saying that one should blow a fortune on learning, but I soon realised that demo trading did not give the 'emotion' that I needed. I am also not saying that I am an emotional trader, far from it.

But I found trading live from almost day one was a huge benefit to me. Starting small (and I mean small) I found that when I did loose (very often at the start) personally gave me a greater determination to analsye my mistakes than trading on a demo account would ever have done. I found a broker that let me start at £0.10 a pip, yes I lost £300 fairly quickly, but I consider that a small amount to get me up and running and probably learnt much more by methodically going over all my trades (good & bad) than most would have in buying a $2000 'guaranteed make your fortune in 5 minutes a day' forex course. Not for a second saying I am there yet, I know I never will be, but I am hungry and confident. Horses for courses but I have always thrown myself in the deep end. I believe it's the only way.

And now this new set up. I have spent many an hour over the last few days looking, reading and learning, is it better than my current setup? Can it compliment my setup? And again I will go back to 10p trading to test - I don't just jump in with these 10p's, there are dozens of systems that I have looked at on various forums and gone no further.

But I like this one and can see great potential so here goes!!

It's a shame that Dollie and Blanca are no longer here, I would love to thank them for their input in earlier stages of the thread. Without their initiial input I would not be writing this.

Regards

Derm

Nothing wrong in making dosh mate. You will have to write lots over the weekends, copy and paste during the week!!!

Hey, pirate! Gettin' a bit crowded in here!!

Seriously, it's great to see some posts and charts from other traders using this fantastic method! Derm and jcblcs79, welcome and nice to see you.

Great charts as well, and it's good to know that there's money being earned out there.

I never thought of using the ADX on my charts, even though it's been one of my favourites in the past. I know pip pirate uses it on his 4hr charts, but my old computer and its titchy screen just couldn't handle all those indicator windows, so something had to go, and I'm afraid it was the ADX. So it's nice to add it on to my 15m chart instead, and it's quite effective as well, in that it adds another useful signal. I still like to add the plus and minus DI's though.......doesn't look quite right without them, but hey, we all have our funny little ways, don't we?

Been a lovely trade on EUR/JPY tonight. Heads up was around 18:00 GMT, with the actual entry around 19:15 GMT. Have a look...see what you think. 1st yellow line.....Heads up. 2nd yellow line......Entry. 3rd yellow line.....Exit. I loved how the ADX crossed the 45 line at about the same time as the DZ green line was crossing the upper band. Sometimes, I think it must be voodoo or something!

Let's see more charts, guys. I love 'em and so does the pirate!!
Cheers

Sorry about that.

Hey, Pirate!! It's gettin' CROWDED in here!!!

Derm and jcblcs79, nice to see you and thanks for your great charts. It's great to see how you've both adjusted them to your own specs. That's evolution for you, man!!

It's interesting how you've adjusted the Guppy. My own spec came from lever70 on the Cornflower thread. She used it on M1 charts for scalping, so you're both in good company.

Best of luck, lads, and keep them pips rollin' in!
Cheers

Hi Eye

Thanks for the welcolm.

I hope not to crowded!!

Talking about crowds where is Dollie and Blanca?

It would be great if they were here, nothing personal you and Pip have done a great job, but, hey, women are great at multitasking - Apparently!!

Hope to have some great charts to post tommorow.

May the pips be with us

Shout out to all. It is great to see the site get all the posts. To answer the questions about Dollie and Blanca, here goes: I haven't talked to Dollie in a few months. We talked when she started this that she wouldn't have that much time to post. Unfortuately what happens with these web sites is that the founder gets slammed with PM' s and they have no time to trade. Dollie I believe is helping others with their trading and continuing to develop more indicators. I don't know if we will hear from her again. Blanca and I talk more often, but she too is very busy. If you haven't noticed, once you get this down and start really making pips and money, you don't have a lot of time to post. So you can tell I'm not there yet! lol. Whatever indicators work and how you mix and match is fine, but I would like to stick with most of the original mix here or else we can start another post. The greatest gift for both women would be to have many people succeed trading so let's go for that and help many others get there too.

morning guys
great thread, working well for the last two weeks on demo a/c
could somebody tell me where in mt4 I can find ADX
cheers

You'll find it if you go to the top toolbar and click INSERT/INDICATORS/TREND/AVERAGE DIRECTIONAL MOVEMENT INDEX

Cheers

eyevoltage
thanks for that, I now have it
cheers

sorry almost forgot, the other indicator DZ I have downloaded but you have 14,20,5 I can only get the 14 and 20, is the 5 a separte RSI
Thanks again

Whilst I was still in the Land of Nod this morning, this opportunity arose in EUR/JPY. I installed the ADX last night after reading Derm's and jcblcs79's posts, although I prefer to use 20 and 40 and bring the plus and minus DI's in as well. I couldn't use the ADX before on Dollie's new method that Pirate uses, purely and simply because of my old computer's titchy screen. Not enough room, man! However, it fits in nicely on the method I use now. As you can see by the yellow vertical, the DZ green/blue cross occured slightly before the ADX and the +DI crossed into the 20/40 zone. Not long to wait for an entry, as you can see by the yellow arrows which indicated the DZ green line crossing the upper orange band, at the same time as the strong positive move from the ADX/+DI combination. Guppy then starts making its move to add further confirmation and exit would have been anywhere in the blue box, according to your own opinion as to how far it would travel. My target is usually the next pivot line, but obviously one has to be flexible! If Guppy weren't there, then I probably would have jumped ship at the first doji, but trusting Guppy has become a bit of a habit, and for my money, it was definitely saying "stay in", so I would have stayed until price reached the R1 line. By then, the lsma3 was headed into OB territory, so it would have been the sensible course of action.

You should get the whole thing, mate.....14,20,5.........I can't understand why you haven't got it.

Try installing this one that I use, to see if it makes any difference.
Cheers

eyevoltage
sorry to be a pain in the **** when I open it opens in microsoft word all in funny writing do you have the mq4 version that opens in MetaEditor?
thanks again