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Dollie's Safe Pips Indicator

  • #661
  • Nov 29, 2007 6:32pm Nov 29, 2007 6:32pm
I am always interested in learning new things. I live in Philadelphia (US Eastern) but trade at all different times. I try to get up early (4amUS Eastern) to trade the European and US Market but that doesn't always work. I find myself trading the Australian and Asian Markets more and more (7pm - 10pm Eastern US Time).
  • #662
  • Nov 29, 2007 7:18pm Nov 29, 2007 7:18pm
Attached is a eur/yen trade I recently got out of. I have 2 charts posted. The first chart has the LSMA set at 10 (what I always use) and the 2nd where the LSMA is set at 5. You can clearly see the difference.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpylsma10.gif Size: 40 KB
Click to Enlarge Name: eurjpylsma5.gif Size: 41 KB
  • #663
  • Nov 29, 2007 10:50pm Nov 29, 2007 10:50pm
Quoting jcblcs79
I am always interested in learning new things. I live in Philadelphia (US Eastern) but trade at all different times. I try to get up early (4amUS Eastern) to trade the European and US Market but that doesn't always work. I find myself trading the Australian and Asian Markets more and more (7pm - 10pm Eastern US Time).
Great. Watch the eur/cad for their unemployment news. It is usually the same day as the US at 12GMT. Think about it. All the traders in london and the early US session have nothing to do but wait for NFP. So when the cad news hits before NFP, there can be some good action. The Canadians haven't been good on what the forecast number will be so sometimes the market moves. It is a pair that also can channel for a while with big channels. Study it and I think you will like it.
  • #664
  • Nov 30, 2007 1:09pm Nov 30, 2007 1:09pm
This morning I decided to re-read Dollies original post and her rules and one thing that jumped out at me was the emphasis of the CCI. Dollie clearly says "Its very safe when blue and white line trades almost on top of each other and going sharply in the same direction through 0". Now I know that I sometimes focus on the RSI ASH and LSMA and forget the importance of the CCI.

Well today I made sure I only entered trades where the CCI hugged the RSI as they cut through the zero line and was 8 for 8 in scalping trades today.

The moral of the story.... This system is very reliable and thought out. If you stick to all of the rules you will be successful.
  • #665
  • Nov 30, 2007 11:27pm Nov 30, 2007 11:27pm
Quoting jcblcs79
This morning I decided to re-read Dollies original post and her rules and one thing that jumped out at me was the emphasis of the CCI. Dollie clearly says "Its very safe when blue and white line trades almost on top of each other and going sharply in the same direction through 0". Now I know that I sometimes focus on the RSI ASH and LSMA and forget the importance of the CCI.

Well today I made sure I only entered trades where the CCI hugged the RSI as they cut through the zero line and was 8 for 8 in scalping trades today.

The moral of the story.... This system is very reliable and thought out. If you stick to all of the rules you will be successful.

Hi JC

I also liked the original rules and I had a run of 12 consecutive positive trades. The charts are posted on Page 18 through to page 24. I used a 30 minute chart and I do concentrate on only 4 pairs. But then I started training myself on another five-minute system which I am now more comfortably with.

I think now is the time to combine the three systems I am working on. I think it is great to have a five-minute scalping system, that Dolly 30 minute and another 4h system. I think that is a well balanced system and it will get you the necessary direction.

Enjoy the trading - like I always said.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #666
  • Dec 3, 2007 2:52pm Dec 3, 2007 2:52pm
Attaced is a interesting indicator I saw on another thread. It is a multi timeframe ADX. It gives you a numerical strength of a specific cross at 5min, 15min, 1hour, 4 hour and Daily. This could be useful for those of us who scalp and are constantly switching timeframes.

I just got this today and am going to keep an eye on it over the next few weeks to see how it works and its accuracy.
Attached File(s)
File Type: ex4 ADX MTF.ex4   16 KB | 338 downloads
  • #667
  • Dec 3, 2007 6:13pm Dec 3, 2007 6:13pm
Can someone advise on how to overlay all the indicators into one window.
I know for those who know how do to it it is very simple but for those who nanot figure it out it is very frustating.
  • #668
  • Dec 3, 2007 6:20pm Dec 3, 2007 6:20pm
Quoting gsilverl
Can someone advise on how to overlay all the indicators into one window.
I know for those who know how do to it it is very simple but for those who nanot figure it out it is very frustating.
We all have been newbies at one time so we are happy to have you on board. Here is how to do it: (I assume you have a meta 4 trade platform) Click on the indicator you want to start with, and drag it to your chart. It will put it in your chart. Make any corrections that you need to. Then find the next indicator you want, click on it and drag it on top of the indicator that you have already installed. That's it. Don't worry be happy on this thread as you are on your way to great trading if you stick with us.
  • #669
  • Dec 3, 2007 6:49pm Dec 3, 2007 6:49pm
Quoting gsilverl
Can someone advise on how to overlay all the indicators into one window.
I know for those who know how do to it it is very simple but for those who nanot figure it out it is very frustating.
Why don't you just download the templates, it has the indicators you need?

Click on Navigator icon, find your indicator and drag to your chart. If you want to overlay, for that indicator Parameters tab: Apply to: First Indicator's Window.....
  • #670
  • Dec 4, 2007 9:23am Dec 4, 2007 9:23am
No I didn't get this move but wanted to show why the exotics can be where it is at when the majors aren't moving. I have been trying to stay just on the H1 and H4 charts, but realize I have to be more flexible and look at all the charts to see the moves coming.This move really started during the US session with a AUD retail sales even during the asian session. One could have entered in the US session, and then you would have been up a little before the news since we don't know which way the market would have gone. It went long and then flat until the london session. Total move: 250 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: steve 29.gif Size: 23 KB
  • #671
  • Dec 4, 2007 9:29am Dec 4, 2007 9:29am
I posted a few posts ago about why I think some of you should look at this pair. As we know there was a CAD interest rate move. Look at this chart: Just like the Eur/Aud chart above, you could have gotten in at 11GMT and let it ride. Over 220 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: steve 30.gif Size: 23 KB
  • #672
  • Dec 4, 2007 9:32am Dec 4, 2007 9:32am
Let's see: Eur/Aud moved 250 (including the US session), Eur/Cad moved 220, the Gbp/Jpy moves 150, and Gbp/Chf moves 300. And some wonder why I want to be in the UK time zone. My scalping friends, please look at this.
  • #673
  • Dec 4, 2007 2:08pm Dec 4, 2007 2:08pm
Pirate... I have taken your advice and have been watching the Eur/Cad and it just paid off with a 20 pip scalp. See attached for details.

I don't know if it just me but I don't seem to be trading any US pairs anymore. My pairs of choice currently are Eur/yen, Aus/yen, Eur/Aus and now Eur/Cad.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad124.gif Size: 37 KB
  • #674
  • Dec 4, 2007 2:41pm Dec 4, 2007 2:41pm
This system looks excellent. I am looking forward to demo trading it and hopefully there will be more activity and posts here for us.

thanks for sharing
Rob
Longboat
  • #675
  • Dec 4, 2007 2:54pm Dec 4, 2007 2:54pm
Quoting jcblcs79
Pirate... I have taken your advice and have been watching the Eur/Cad and it just paid off with a 20 pip scalp. See attached for details.

I don't know if it just me but I don't seem to be trading any US pairs anymore. My pairs of choice currently are Eur/yen, Aus/yen, Eur/Aus and now Eur/Cad.
Glad to see your success. I just "discovered" the AUD/JPY and have been tracking it. When the US pairs are flat, always look to the exotics. What I love about forex is my belief that someone out there always wants to make money with some pair. So it may be slow for a day, but then the big boys say "let's move something". CAD unemployment is friday and let me tell you, if it moves, it's fast. we shall see.
  • #676
  • Dec 5, 2007 7:30am Dec 5, 2007 7:30am
Pirate... I think I might be in love. When this pair starts to move the pips are a plenty. Thanks for turning me on to this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad1251min.gif Size: 40 KB
  • #677
  • Dec 5, 2007 11:35am Dec 5, 2007 11:35am
Attached are 2 trades I just got scalped - Aus/Yen & Eur/Yen. If you notice on both of these trades and my earlier trade today the ADX for the 5min, 15min, & 1hour were all either green or red confirming the direction of price movement. I know I have only been using this recently but the correlation of the three timeframes allows me to enter my trades with even more confidence. Now if you trade on the longer timeframes you could probably use this as a good entry point.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy125.gif Size: 42 KB
Click to Enlarge Name: euraud.gif Size: 43 KB
  • #678
  • Dec 5, 2007 12:09pm Dec 5, 2007 12:09pm
I walked away from the computer and returned only to see this great setup pass me by. Anyway, I'm going to post it for it is a great example of everything working together on the Eur/Cad pair.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad1251.gif Size: 40 KB
  • #679
  • Dec 5, 2007 12:35pm Dec 5, 2007 12:35pm
Last post of the day. Well I got some of that Eur/Cad move after a small pullback. I am posting this trade because for those who scalp the 1min charts, this is what you should expect. I mostly post my big wins and that could be misleading. When you scalp you should aim for 8 - 10 pips. Now if you can sense a larger a move then stay with it but that is completely discretionary.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad1252.gif Size: 40 KB
  • #680
  • Dec 5, 2007 12:44pm Dec 5, 2007 12:44pm
Just to prove my point I want to post the eur/cad right after I got out of it. I got lucky and got out with positive pips. At worst I would have broke even. Once I am up 8 - 10 pips I set my SL to break even. Again... when you scalp you have to be quick, decisive and go for small quick gains.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad1253.gif Size: 42 KB
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