Dollie's Safe Pips Indicator

My first trade in a long time using Dolly system but I've combined it with the Guppy system like EyeVoltage.

As always I do save copies of my trades - for this one I did save the copies for my entry and exit points to be reviewed later.

The first chart is exactly my entry point and their second chart is exactly where I exited the trade (just below the M1 line). The entry was may be too early but the Isma was where I want it to be. Ideally it should come from below the 0-line.

26pips profit - not too bad for a first time.

Attached is a perfect trade I just got out of.

See attached for details.

sorry... here is the chart

Here is a more aggresive trade I just took that paid off. Dollie wasn't perfect. When I enter a trade Like this I truly am in scalp mode. 5 - 10 pips are my target.

hi jcblcs79 could see you are around and with the aggresive entries on GU i guess that dollie pays off for scalping . Well i have been reading the thread few days ago but am afraid of a lot of indicators but later got interested as it looks a little bit clearer to me. could you pls let me have those indicators as it is in your GU chart or if the tpl is available,sorry for any inconvinience cos i think there is some diiference in the golfer or am making a mistake.

Hello Ras and welcome to the thread.

I use Dollie's original setup (my first indicator window) and the custom indicators are posted on page 1. The rest are standard.

The 2nd indicator window is the Laguerre. I got this from Imran's 5min Scalping thread. He uses 2 Lags where I only use one (the 2nd Lag). Please reference his thread for more details. I don't want to take credit for his work. I also got the 60 and 200 EMA from this thread.

You'll also see that I use the short GMMA. I'll post that indicator. If you google Guppy you'll find all the info you need on that subject. I encourage you do read that. I also believe I posted a few articles on guppy.

I have recently incorportated a multi-time frame ADX (For more info on ADX go to Investopedia). I am now trading when I have agreement from the 5min, 15min & 1hour. Obviously the more aggresive you want to trade the less confirmation you'll take and if you want to be ultra conservative you can wait until you have full agreement all of the way up to the daily TF.

Finally, I don't recommend trading the 1min charts to start. Follow the 5min charts live to see how the indicators work.

I hope this is helpful.

Thanks so much. I am really happy to see your response and you guys are being wonderful in helping newbies on the thread like me. Thanks once again.

No problem Ras.

I still consider my self a newbie and am learning everyday. I keep experimenting with my system but the constant denominator is Dollie (which has to mean something).

This trade I am posting now is a great example of following price action and using Support and Resistance to your advantage. I got into this trade and if I just followed Dollie I would have gotten out with a minimal loss but I trusted the Resistance levels and Price Action. The price had already broken this R1 level, came back down and then started to move upwards. I think it will hit the R2 level but I didn't want to push it and got out while I was ahead.

It must be amazing to have a reliable system (I believe Dollie is that one) and have a great knowledge of chart patterns, candle patterns, fib levels ect....
The results would be mind blowing. Then add in fundamental's. This truly is a life learning experience.

As you can see the R2 level was hit and the price has seemed to stall. How freakin cool is that.

I just woke up (7am Eastern US) and turned on my computer to see the chart below. I didn't get in this trade but as you can see, everything lined up perfectly.

As I have become more confident in Dollie and with my few tweaks I am now focusing on other aspects of trading. I am now trying to learn as much about Daily Support and Resistance Levels as I can. There is no doubt that they influence price movement and can be extremely important. Like I mentioned yesterday, it must be amazing to almost predict (to some degree) where the price will go and stall and one essential tool for this are an understanding of support and resistance levels.

This will be my last post regarding this topic on this thread. I'll be investigating on the appopriate threads and I want this thread to get off track. I just want to share my thoughts with those that have helped me with this great system.

Attached is an Auto Pivot Indicator that automatically plots daily, weekly, monthly pivots and support and resistance levels.

I want to post this link to a great article I just read at investopedia.com on Support and Resistance. If you are new to the subject I recommend you read this.

http://www.investopedia.com/articles...5/FXpivots.asp


I hope this helps.

Hey jcblcs79: Thanks for the posts on the topics surrounding trading. They are a help for all of us. What did you think of your new favorite, eur/cad today? Only 140 pips down with the CAD unemployment news. Glad you like it and maybe next time on NFP you can get up at 3:45am. It's only sleep.

I am really fond of this pair. The only thing I don't like is that my spread at MB Trading for this pair is 4 - 5 pips and rivals the Gbp/Yen pair and I hate giving money to my broker.

As for news trading, I'm not quite there yet. I tend to stay away from the market during these "RED FLAG EVENTS". Plus MB Trading tells you on their website that trading during the news is Risky and even sends out a message before these big news events warning you. Is that an excuse to take advantage of a person... I don't know. I never had a problem with them so I can't say that.

It is amazing though seeing the correlation between these events and price action. In any event, at least I am starting to understand why certain pairs are going long or short. I do try to take advantage of these news events throughout the day especially if the forecast is as off as it was today.

Once I get all of my technicals down then I will conquer the fundamentals.

how do you overlay indicators . I don't know how to do it , can anyone help plz?

Look at posts #668 and #669 for your answer. Welcome to the thread.

Jcblcs79: You are smart with your thoughts about the news and this pair. You like to use the M1 so that is why I wanted to tell you. But another idea is the rebound since the news. I was focused on other pairs and since I have been up today, the eur/cad has retraced 70 pips. Something to look at.

Hey Pirate... it took me 4 hours but I did get my share of this volatile pair today.

I know I said I wouldn't post anymore about Pivots, Support & Resistance on this thread but check out this 1min chart from the Eur/Cad from the last 4 hours.

Again... I am just learning the concepts of these lines (are they just magical numbers that work or are Big Players in this Market so ingrained to use these numbers that their own actions are thus fulfilling their predictions - does that make sense?).

I'm not ready yet to start trading based on these Pivots, Support & Resistance but once you see this first hand it is very hard to dismiss.

I feel like this thread has become a Personal blog the last few days (sorry if I am bothering people) but I think I just had an epiphany!!!

I have been doing very well these last few months (I don't want it to seem like I'm bragging) and I couldn't really put my finger on why I have been more successful with my trading but I think I just nailed it on the head.

In the beginning I was so consumed with indicators. I would never pay attention to actual price movement. I would stare at my indicator windows and wait for them to tell me to get into a trade. Now I see myself looking at Price Movement and only looking at the indicators for confirmation.

I recall reading numerous threads in the Forex Discussion Forum explaining this but I didn't understand. I always had a problem trusting indicators that I didn't even know how they worked but didn't know any other way.

For whatever reason I gravitated to Dollie and took to her system (I said it before and I'll say it again... this system saved my account) and I will continue to use this great system as my primary indicator confirming Price Action.

I don't know if this will help anyone but I wanted to share this idea. Everyone's path to success is different.

My two cents. In many ways they are a self fulfilling prediction, as everyone knows the numbers. It depends also on why is the pair moving and if it was news, is it big enough news to blast thru the S/R? Is it a retracement and people wanted to make a few pips on the bounce so they might as well get out there. I do watch them if I think it might break thru. If the price bounces off of it 3 times or more, then a reversal of the trend is very possible. If you had a good entry, and have made your pip goal when it hits S or R, then it's not bad to take the profit. Or close out half of your position. Take notes and track what you are learning and in a few months you will see what works for you.
I have a best friend, who has been trading with me since the beginning of forex trading for us, and he just called and is out of the business. He blew up his account again for the fourth time and his wife said enough for now. And it kills him not to trade. His problem: not using stops and also not taking profit when he was up. He would tell me ( and he is a scalper) that he would be up 30-50 pips some times and then wouldn't close out the trade because "he might get more". I tried to teach him about using more indicators like pivot points but he wouldn't listen.