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Dollie's Safe Pips Indicator

  • #781
  • Dec 21, 2007 6:40am Dec 21, 2007 6:40am
Hi jcblcs79,

What does the sign on TF 5min and 15min mean.
Also what does the color indicate.

Do you have ADX MTF.mq4 file that can be edited.
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  • #782
  • Dec 21, 2007 8:41am Dec 21, 2007 8:41am
Silver,

I didn't come up with this indicator so I can't completely answer your question but here is my interpretation as I assume (and we all know what happens when you assume).

Green - Long
Red - Short.

The higher the actual number the stronger the play. Anything over 30 is a strong move in my mind. I don't really pay too much attention to the numbers for my style of trading, I only care about the color.

To get a better understanding of this indicator open up the regular ADX (set to 13) and take notice of that indicator window in a particular time frame and the MTF ADX reading. You should see the correlation. I have traded using ADX before so I understand it a little. It doesn't read like an EMA.

See the chart below for a better explanation - they say a picture is worth a 1000 words or something like that.

Please don't trade this alone, use it as a tool. FYI - ADX does lag more then most indicators. For more info on ADX go to Ivestopedia.com.

Hope this helps.
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File Type: ex4 ADX MTF.ex4   14 KB | 438 downloads
  • #783
  • Dec 21, 2007 8:52am Dec 21, 2007 8:52am
would you take a long trade if all signs lead to long except laguerre was at .25 and angleing upward?
  • #784
  • Dec 21, 2007 8:58am Dec 21, 2007 8:58am
I don't but that is my style. I want the Lag to be at either extreme (running flat to me is the best). I have passed on some successful trading opportunities because of this but it has also kept me out of some losing trades. I don't use the Lag as an entry or exit. I use it for a general price direction. (I could be using this completely wrong as Imran uses the Lag in the way you describe).

Again - this is my style and is by no means almighty. I still have losing trades everyday (yesterday was particularly tough because I tried to make something out of nothing during the US afternoon).
  • #785
  • Dec 21, 2007 9:04am Dec 21, 2007 9:04am
what times US do you seem to have the most sucess?
Also, what pairs do u trade?
  • #786
  • Dec 21, 2007 9:09am Dec 21, 2007 9:09am
I try to get up for 4am to get in on the European Market (everyday I see great moves that I miss) but find my self up around 6am and trading until 12pm. Sometimes you will see nice moves after that but it is too inconsistent.

I keep an eye on all charts and will ride a few until they go flat. My main charts are the US Eur, Pound, CAD AUS pairs and Eur and Aus Yen pairs. The Eur/Cad is also very good but I don't get a great spread on that from MB Trading. Same goes with the GBP/Yen.
  • #787
  • Dec 21, 2007 9:52am Dec 21, 2007 9:52am
Quoting jcblcs79
Silver,

I didn't come up with this indicator so I can't completely answer your question but here is my interpretation as I assume (and we all know what happens when you assume).

Green - Long
Red - Short.

The higher the actual number the stronger the play. Anything over 30 is a strong move in my mind. I don't really pay too much attention to the numbers for my style of trading, I only care about the color.

To get a better understanding of this indicator open up the regular ADX (set to 13) and take notice of that indicator window in a particular time frame and the MTF ADX reading. You should see the correlation. I have traded using ADX before so I understand it a little. It doesn't read like an EMA.

See the chart below for a better explanation - they say a picture is worth a 1000 words or something like that.

Please don't trade this alone, use it as a tool. FYI - ADX does lag more then most indicators. For more info on ADX go to Ivestopedia.com.

Hope this helps.
Where or from whom did u get this indicator?
  • #788
  • Dec 21, 2007 9:57am Dec 21, 2007 9:57am
I don't recall - it might have been from Imran's thread. I read his thread everyday. Sorry.
  • #789
  • Dec 21, 2007 10:09am Dec 21, 2007 10:09am
Quoting jcblcs79
I don't recall - it might have been from Imran's thread. I read his thread everyday. Sorry.
Anyway thanks for the indicators. Now have to find the source.
  • #790
  • Dec 21, 2007 10:22am Dec 21, 2007 10:22am
One of the things that Dollie taught me was to pay attention to the H1 and H4 charts. I have been but I too get caught up in the smaller charts and miss moves like this one. It's only 200 pips in one day. I have been listening to some trader interviews on line (www.traderinterviews.com) and one guy gave me hope. He said that he had been trading stocks for years and it took him 2 years to learn to trade currencies. It just takes time.
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  • #791
  • Dec 21, 2007 12:55pm Dec 21, 2007 12:55pm
I agree Pip. The longer TF's is where the riches lie. I have been working on a Daily System that incorporates Dollie. My plan is to set up a different account and start trading it live with mini lots after the new year. I am going to open that account look at the Daily charts once a day & make my decision, set my SL and TP and then forget about it (even though that goes against my personality to the T).

I was thinking about doing this between 8 & 9pm each night. What do you think about this time.
  • #792
  • Dec 21, 2007 4:49pm Dec 21, 2007 4:49pm
[quote=jcblcs79;1770306]I agree Pip. The longer TF's is where the riches lie. I have been working on a Daily System that incorporates Dollie.


I thought that more frequent trading was more profitable in the long run?
A) only trades once a day and the second system (B) trades 10 times a day, there is going to be a big difference in the level of profitability.


regards

Red
Attached Image
  • #793
  • Dec 23, 2007 12:20am Dec 23, 2007 12:20am
Quoting jcblcs79
I agree Pip. The longer TF's is where the riches lie. I have been working on a Daily System that incorporates Dollie. My plan is to set up a different account and start trading it live with mini lots after the new year. I am going to open that account look at the Daily charts once a day & make my decision, set my SL and TP and then forget about it (even though that goes against my personality to the T).

I was thinking about doing this between 8 & 9pm each night. What do you think about this time.
I like your ideas J but as you know to play the daily chart you will have to have a big S/L to start. The times are good.I want you to pay attention to the HMA color moving average indicator tho as it is very important. I would go back through the past 6 months or so with the daily chart to study how you would make your move. What you are going to see is that usually, when the HMA color changes color (and that means direction), then the move is going to happen. But the HMA can give false signals and they are usually because it is the wrong time of day. So if the HMA changes during one of the dead times, then don't trade it. Sometimes it doesn't happen right away. But see if you notice what I have been studying lately: If you wait until the HMA color changes, then the high price of the day right before the directional change seems, in most cases, to be the highest price that you can use as a stop loss marker. So I would set a stop loss 20 pips or so above that high price (unless it is the gbp/jpy or something like it), and I have seen that you won't get stopped out. Now your entry price might be 50 pips or so below that price (on a short move for example), but test it for yourself. Then depending on the pair, be slow to move your s/l up until you have a good move. I have seen it come back up and almost hit that price before it makes its final move. We don't talk enough about the HMA color but that indicator is becoming more and more my friend. The other thing you might want to do is trade the H4 as you will have more trades and that make fit your style. I have been testing the H4 a lot and am now ready to trade it big time. That is my style: to think too much and practice, test, and watch the moves until I am sure this is going to work. After a while you can see that the H4 is dying to make a move so you have to stalk it. Good news is that you don't have to be in it right when it makes its first candle. Just wait for the right move after that and you still can get pips (that goes for the daily too). Just wait for the HMA color to change and make sure with the candles that it is moving now as sometimes it will go sideways for a day.
  • #794
  • Dec 24, 2007 5:07am Dec 24, 2007 5:07am
Quoting pip pirate 2
I like your ideas J but as you know to play the daily chart you will have to have a big S/L to start. The times are good.I want you to pay attention to the HMA color moving average indicator tho as it is very important. I would go back through the past 6 months or so with the daily chart to study how you would make your move. What you are going to see is that usually, when the HMA color changes color (and that means direction), then the move is going to happen. But the HMA can give false signals and they are usually because it is the wrong time of day. So if the HMA changes during one of the dead times, then don't trade it. Sometimes it doesn't happen right away. But see if you notice what I have been studying lately: If you wait until the HMA color changes, then the high price of the day right before the directional change seems, in most cases, to be the highest price that you can use as a stop loss marker. So I would set a stop loss 20 pips or so above that high price (unless it is the gbp/jpy or something like it), and I have seen that you won't get stopped out. Now your entry price might be 50 pips or so below that price (on a short move for example), but test it for yourself. Then depending on the pair, be slow to move your s/l up until you have a good move. I have seen it come back up and almost hit that price before it makes its final move. We don't talk enough about the HMA color but that indicator is becoming more and more my friend. The other thing you might want to do is trade the H4 as you will have more trades and that make fit your style. I have been testing the H4 a lot and am now ready to trade it big time. That is my style: to think too much and practice, test, and watch the moves until I am sure this is going to work. After a while you can see that the H4 is dying to make a move so you have to stalk it. Good news is that you don't have to be in it right when it makes its first candle. Just wait for the right move after that and you still can get pips (that goes for the daily too). Just wait for the HMA color to change and make sure with the candles that it is moving now as sometimes it will go sideways for a day.
This trade I have just took with T P & S L shown in chart

wish me luck

regards
khalid

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  • #795
  • Dec 26, 2007 10:34am Dec 26, 2007 10:34am
Quoting kkk555
This trade I have just took with T P & S L shown in chart

wish me luck

regards
khalid

Attachment

110 pips more than enough the rsi is now touching the upper line

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  • #796
  • Dec 26, 2007 11:58am Dec 26, 2007 11:58am
[quote=kkk555;1773240]110 pips more than enough the rsi is now touching the upper line

We have another successful pip catcher on this thread that trades the longer term! We welcome your future posts.
  • #797
  • Dec 31, 2007 1:00pm Dec 31, 2007 1:00pm
Hi,

Wondered if anyone caught this move short on the daily charts over the holiday period? I got in late but managed to get 125 pips...

Thanks to Dollie, PP2, Blanca and everyone who has contributed so far - I am still reading through the thread and haven’t caught up yet but I wanted to keep the thread alive and show my interest...I will post more when I'm fully read up.

I wondered how people are managing stops on the daily charts?

Also I am London based and relatively new to Forex and have a 9-6 job but wondered if anyone had any advice as to what would I could look at early morning or evening GMT?

Is anyone using a Spread betting Company as there broker?

Happy and prosperous new year to all.

regards

Red
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  • #798
  • Dec 31, 2007 9:22pm Dec 31, 2007 9:22pm
Quoting redart007
Hi,



I wondered how people are managing stops on the daily charts?

Also I am London based and relatively new to Forex and have a 9-6 job but wondered if anyone had any advice as to what would I could look at early morning or evening GMT?

Is anyone using a Spread betting Company as there broker?

Happy and prosperous new year to all.

regards

Red
Welcome Red: Glad that you are willing to do the homework first which is a good sign of your future success. I am working on trading the larger time frames but am not ready for a daily chart, as I do this full time. To trade the dailys, you are going to have to set a big stop if you get in early. There is a lot of potential for you with this style of trading if you realize that there will only be a few good trades a month with this method. But when they hit they will be for over 100 pips. I personally would love to see how you do with this method and your posting as you can be a big help to the board. You can inspire the part timers that it can be done. What I have noticed is that if you start watching the market, say at 7GMT until work, you may be able to see that many times, the Asian session will give you a hint on which way it wants to take the pairs. Several times a month you will see that there is some movement in the late Asian session that will continue into the London session. Realize, since you are new, that there are going to be times when you are wrong and your losses will be big. I would paper trade and then go to a mini account for at least a year. The big money will always come, but money management is the key to successful trading. I have given many ideas in this thread. If you go too fast, blow up your account, the damage that it will do to your mind will take months to change. I have never blown up my account but have taken some big losses and it screwed up my thinking. Go slow, read, study, have a journal and you can succeed.
  • #799
  • Jan 2, 2008 4:36pm Jan 2, 2008 4:36pm
Happy New Year everyone!!! I just got back from a long needed vacation and was very suprised by the volatility of Monday and Today (Wednesday). I hope this is a sign for the year to come. I'm going start trading Monday and will be posting charts. Hope everyone had a great holiday season.
  • #800
  • Jan 4, 2008 9:35am Jan 4, 2008 9:35am
Greetings all my friends on FF and a Happy New Year! I am always learning new things and trying very hard to be open to ideas, not be ridged in my thinking and trust what I see. I know it was the holidays so I was looking at the market but wasn't confident with many trades because of volume. Once again I was wrong. It seems that this market is growing so fast that there may not be any real down time. Here is a beautiful trade that I should have taken. Only 1000 pips. The arrows are showing you where the indicators are telling me to get in.
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