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Dollie's Safe Pips Indicator

  • #721
  • Dec 12, 2007 8:39am Dec 12, 2007 8:39am
here is a great 150 move on the audjpy 5min chart. I didn't get in on this and even if I did I probably wouldn't have stayed in this long. That is the only downfall of working the 1min charts. You do get more moves in a day but usually none of these whoppers.
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  • #722
  • Dec 12, 2007 9:51am Dec 12, 2007 9:51am
Quick post to probably our US friends and those who can trade the Asian session. It's 15:48GMT and the majors aren't doing anything lately, except at the open when I was asleep. But look at the AUD pairs, which have made moves against the AUD as the AUD unemployment rate is due later today. Sad that I didn't see it earlier to get in. EUR/AUD is up 50+ since I got up. Can see these types of interday moves before the news, so that you can take the profit right before the news event.
  • #723
  • Dec 12, 2007 12:12pm Dec 12, 2007 12:12pm
Here is awesome trade off the Eur/Cad. I stayed in this trade longer then usual and it paid off. All of my indicators were leading me to believe the Price had momentum all the way up to the Daily Resistance 1.

see attached
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  • #724
  • Dec 12, 2007 12:54pm Dec 12, 2007 12:54pm
Here is a trade that I probably got into too late. Instead of convincing my self that I was right I followed the indicators and got out. Maybe it will turn in my favor, we'll find out. I would rather get out of a trade breaking even and see it go in my favor then stay in a trade and watch my SL get hit. There will always be more opportunities.
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  • #725
  • Dec 12, 2007 1:07pm Dec 12, 2007 1:07pm
Quoting eyevoltage
Nice to see a lot of activity on this thread.

jc79............great charts, mate, and it's good to see how you've adapted the dollie system to your own style of scalping etc. Interesting how you've incorporated the Laguerre indicator, and is that a Keltner channel you're using in the main window? You seem to be doing ok, mate. Keep it up.

Golfer...........Hi Willem, and it's nice to see you active on this thread. Your use of the ADX is interesting, but I'd be grateful if you could break down exactly how you incorporate the lsma3 in there. What precisely are you looking for etc? Also, the lsma3 in the dollie window doesn't look to have the same setting as the one in the ADX window. Can you confirm that or otherwise?

I haven't been posting lately, as I'm in the process of changing my whole set-up here. Plus, the Christmas period is always a busier time for me than normal domestically. I'm already looking forward to the New Year, so that things can get back on an even keel again!

Cheers for now.
Hi Eyevoltage

Tx for the words. Yes, I'm back with a system where I had 12 positive trades in a row posted somewhere on this thread (I really didn't know why I ignore this system up to now). Hopefully I can do the same again.

To answer your question:

I am back with one of the old systems. Look at Dollie's posts on Page 2 - post #22 and Page 9 - post 129.

Last weekend I did some back testing and I found how constantly you can make 10-50pips on the 15min EUR chart as explained on page 47 post #701. I started with the 30min chart but I didn't like it. The 15min gave better signals and the 5min gave too many false signals.

Now I am working on Jc ADX indicator as well.

I hope it make sense.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #726
  • Dec 12, 2007 1:08pm Dec 12, 2007 1:08pm
i guess i'm too impatient LOL. Oh well
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  • #727
  • Dec 12, 2007 1:36pm Dec 12, 2007 1:36pm
My trade today on EUR. Unfortunately I had to leave the office for a meeting - so I close it for about 13pips profit.

Chart 1: I entered way too late (opening of the second last candle) - I saw the setup too late. Correct entry should have been the opening of the fourth last candle around 1.4658: Reason - Isma entered the "safe zone" on both indicator windows with the opening of the that candle.

One need to look at the charts every 15mins.

Chart 2: That was how my chart looked at the close of my trade - should have waited for candle to close but I had to go to a meeting.

Chart 3: Just to show one of our members who was worried about the changes of the charts as time goes on. Also I indicated with the arrows all the crosses needed for a signal as well as the safe zones in the rectangle. Also the enter (opening of candle) and exit (close of candle).

Look at the ellipse in the rectangle - that was where my exit was. If I had waited for candle to close, Isma would have been still within the safe zone.

Last comment on chart 3: Isma has just entered the safe zone on the first indicator window but the ADX window's Isma is not yet in line. No entry. JC's ADX indicator also shows only 2 are in line.

Eyevoltage:

Just a very interesting approach to the Dollie system I am trying out. It is now 2 out of 2 trades positive with lost of possible trades missed. Currently I am just following the EUR to test this system.

Any comments are more than welcome.
Attached Image(s) (click to enlarge)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #728
  • Dec 12, 2007 1:46pm Dec 12, 2007 1:46pm
Quoting eyevoltage
Nice to see a lot of activity on this thread.

jc79............great charts, mate, and it's good to see how you've adapted the dollie system to your own style of scalping etc. Interesting how you've incorporated the Laguerre indicator, and is that a Keltner channel you're using in the main window? You seem to be doing ok, mate. Keep it up.

Golfer...........Hi Willem, and it's nice to see you active on this thread. Your use of the ADX is interesting, but I'd be grateful if you could break down exactly how you incorporate the lsma3 in there. What precisely are you looking for etc? Also, the lsma3 in the dollie window doesn't look to have the same setting as the one in the ADX window. Can you confirm that or otherwise?

I haven't been posting lately, as I'm in the process of changing my whole set-up here. Plus, the Christmas period is always a busier time for me than normal domestically. I'm already looking forward to the New Year, so that things can get back on an even keel again!

Cheers for now.
Hi Eyev

Sorry - I forgot about your ADX question. Jc also asked that question. My answer is on page 47.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #729
  • Dec 12, 2007 1:51pm Dec 12, 2007 1:51pm
Quoting jcblcs79
i guess i'm too impatient LOL. Oh well
Hi Jc

Yes, you can't win them all but....... Luckily we know why.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #730
  • Dec 12, 2007 1:54pm Dec 12, 2007 1:54pm
Quoting jcblcs79
Here is a trade that I probably got into too late. Instead of convincing my self that I was right I followed the indicators and got out. Maybe it will turn in my favor, we'll find out. I would rather get out of a trade breaking even and see it go in my favor then stay in a trade and watch my SL get hit. There will always be more opportunities.
Hi Jc

Great advice - it is also my approach lately.

I also realised lately that I should exit with small loss (if I see the trade is not going my way) rather than waiting for a small profit. Learned it the hard way this week - smetimes they don't return to BE. New strategy for me as from now on.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #731
  • Dec 12, 2007 3:22pm Dec 12, 2007 3:22pm
I couldn't agree more Golfer.

I set an absolute final SL at 15. I rarely get to that point though. I would rather have 4 - 5 losing trades at -5 pips then 2 - 3 loses at -15 pips.

I think it also helps me physcologically as well. I now trade 100,000 lots and I can't stand to see over $100 in RED. It is a lot easier for me to see a $40 - $50 dollar loss. It is also easier to overcome.
  • #732
  • Dec 12, 2007 3:41pm Dec 12, 2007 3:41pm
I am following your work with interest Golfer.

Thanks for your posts. I will continue to trade the 1 hour charts, but I see that the EUR does provide reliable signals on the 15 minute chart as well. Many of the other pairs seem too give too many false signals on the 15 minute chart using the pure original dollie, but the EUR is great. Thank you for your great observation. Good luck to you!
  • #733
  • Dec 12, 2007 4:34pm Dec 12, 2007 4:34pm
Hello, Willem.
Looking at my chart, you'll notice I don't as yet use the ADX, preferring instead to stick with the Dynamic RSI, as I think it's one of the best damn indicators I've ever seen.
So...... Referring to said DZ zone, the first yellow vertical line pinpoints where the trade was first indicated. Looking into the Dollie window, it's also within one period of what I would term a strong "Dollie" signal. (RSI2/CCI6 crossing up through the zero line.) However, even though Dollie is saying "go", it would be pure speculation as to whether or not the price would rise, as the Guppy ma's are still in "short trade" positioning, even though the ST's are getting very compressed. I've said before that I don't like trading TOWARDS the 60ema, as it would be usually against the current trend. I'll only take a trade if the price has left the 60ema behind and is moving AWAY from it.
Eventually, we see price move up towards the Pivot Point (another major obstruction to the trade), so I would have waited for the line to be breached, even though, at this point, the Guppy ST's have crossed and are nicely spreading apart. My theoretical entry point, indicated by the arrow at the 2nd vertical line, would, for me, have been the perfect place to get in. Right on the Pivot Point with plenty of "moving up" space, ST's looking strong, lsma3 having just crossed the zero line, and the green line in the DZ continuing to look very positive. My 2nd yellow arrow at the 3rd yellow vertical line indicates the exit point, but it's fair to say that the exit would have probably been on the close of the preceding candle. However, the upside down hammer under the arrow would have been telling me very loudly to jump ship.....PRONTO!! At that point, of course, the RSI2 and the lsma3 are both in OB territory, with the lsma3 starting to sneak out of the orange/blue zone. So, by waiting for the entry point I described, it turned a speculative trade into a solid well-indicated one. Dollie and Guppy strike again!!
  • #734
  • Dec 12, 2007 4:45pm Dec 12, 2007 4:45pm
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  • #735
  • Dec 12, 2007 5:13pm Dec 12, 2007 5:13pm
Great Post Eye. Awesome explanation.

I just looked over my charts and the Aud/Jpy jumped out at me. As you can see the price fell 80 pips in 1min. As far as I can see there wasn't a major news release at this time. As a scalper seeing something like this scares the crap out of me especially when everything would be telling you to go long. Has anyone seen anything like this before (I haven't in the last year as far as I can remember). What would cause this?
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy12122.gif Size: 40 KB
  • #736
  • Dec 12, 2007 7:07pm Dec 12, 2007 7:07pm
Quoting jcblcs79
Great Post Eye. Awesome explanation.

I just looked over my charts and the Aud/Jpy jumped out at me. As you can see the price fell 80 pips in 1min. As far as I can see there wasn't a major news release at this time. As a scalper seeing something like this scares the crap out of me especially when everything would be telling you to go long. Has anyone seen anything like this before (I haven't in the last year as far as I can remember). What would cause this?
Jcblcs79: Hey my friend you must have a bad feed from your broker. I admit that I am looking back after a few hours as I was away, but I can't find anything like it on my Interbankfx platform. Maybe it's a sign to stay away from the M1. LOL. That's a crazy 1 min chart. Too fast for me. Always set S/L's. There was AUD unemployment today so the AUD pairs had plenty of action. Watch all the AUD pairs from the US session on for some pips. I would call the broker and find out if that really happened and tell them no one else had it. The next two candles don't look right either.
  • #737
  • Dec 12, 2007 9:22pm Dec 12, 2007 9:22pm
Pirate, I trade through MB Trading and they don't offer charts. I have been switching from AlecchoFX and StrategybuilderFX for their Metatrader Charts. Unfortunately I wasn't around my computer when this happened so I don't know if MB fell as well.

Check out the chart below... both the Eur and Aus Yen pairs got crazy at 23:50 except the Eur spike upwards while the Aus went down.

If anyone has any correlating data please post.

Thanks
Attached Image (click to enlarge)
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  • #738
  • Dec 12, 2007 11:36pm Dec 12, 2007 11:36pm
Attached File(s)
File Type: doc no spike.doc   93 KB | 336 downloads


jc79, I don't know if you'll get the photo or not, but there was no spike whatsoever with my feed! (On my chart, the spike would have shown at 1630) What a strange fluke. That would be enough movement on a one minute chart to give me a heart attack!
  • #739
  • Dec 12, 2007 11:56pm Dec 12, 2007 11:56pm
Quoting mhb28
I am following your work with interest Golfer.

Thanks for your posts. I will continue to trade the 1 hour charts, but I see that the EUR does provide reliable signals on the 15 minute chart as well. Many of the other pairs seem too give too many false signals on the 15 minute chart using the pure original dollie, but the EUR is great. Thank you for your great observation. Good luck to you!
Hi Mh

Thanks for your message and good luck to you too. Looking forward to see your charts posted in the thread.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #740
  • Dec 13, 2007 12:10am Dec 13, 2007 12:10am
Quoting eyevoltage
Hello, Willem.
Looking at my chart, you'll notice I don't as yet use the ADX, preferring instead to stick with the Dynamic RSI, as I think it's one of the best damn indicators I've ever seen.
So...... Referring to said DZ zone, the first yellow vertical line pinpoints where the trade was first indicated. Looking into the Dollie window, it's also within one period of what I would term a strong "Dollie" signal. (RSI2/CCI6 crossing up through the zero line.) However, even though Dollie is saying "go", it would be pure speculation as to whether or not the price would rise, as the Guppy ma's are still in "short trade" positioning, even though the ST's are getting very compressed. I've said before that I don't like trading TOWARDS the 60ema, as it would be usually against the current trend. I'll only take a trade if the price has left the 60ema behind and is moving AWAY from it.
Eventually, we see price move up towards the Pivot Point (another major obstruction to the trade), so I would have waited for the line to be breached, even though, at this point, the Guppy ST's have crossed and are nicely spreading apart. My theoretical entry point, indicated by the arrow at the 2nd vertical line, would, for me, have been the perfect place to get in. Right on the Pivot Point with plenty of "moving up" space, ST's looking strong, lsma3 having just crossed the zero line, and the green line in the DZ continuing to look very positive. My 2nd yellow arrow at the 3rd yellow vertical line indicates the exit point, but it's fair to say that the exit would have probably been on the close of the preceding candle. However, the upside down hammer under the arrow would have been telling me very loudly to jump ship.....PRONTO!! At that point, of course, the RSI2 and the lsma3 are both in OB territory, with the lsma3 starting to sneak out of the orange/blue zone. So, by waiting for the entry point I described, it turned a speculative trade into a solid well-indicated one. Dollie and Guppy strike again!!
Hi EyeV

Thanks for your comments - I do appreciate it. Just one comment:

I just don't understand the dynamic RSI. To me it seems like the indicator is just zig-zag all over the place. Maybe it is just a case of "not understanding the indicator". Take for example your chart: just before your vertical line 1: the green line was moving all (zig-zag) over the blue line. What made you decide that now the indicator has started moving in a direction? Sorry but I don't see it. Or am I missing the point/function of the indicator?

Maybe you can assist me (to understand) with this indicator.

Also, it took me a while to understand the initial Dollie system. I like to keep things as simple as possible. The Dollie system was complicated enough for me.
Willem Forex recipe for success = Patience, discipline & hard work.
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