Dollie's Safe Pips Indicator

i used dollie and my other indicators as my entry and psych lines as my target. at first i was only going to go for a short scalp and get out at 155.50 but decided to wait and see considering that the price did reach 156. once the price did break 155.50 i made that my SL so i was in a free trade anyway.

this pair has been hovering around the 156.00 line for the last 2 hours. i'm not doing anything until 156.30 or 155.70 can breached. then i'll decide if the price going to continue to next pysch line or bounce back to 156.00. until then i'm just gonna keep sharping my tomahawk.

i went long at 156.34 and am aiming for 156.50

and just got out at 156.17.

maybe i should have waited until the next pysch line was broken instead of making up my own random lS & R lines.

JC: Looking at your last posts, I hope you are open to an observation. The times to trade the eur/jpy isn't in the middle of the US session. The jpy pairs move from the US open to 17GMT, take a break, and then get back in around 19:30GMT to the end of the US session. This is a general trend of course.

thanks for the advice. you know me.... i'm always open to suggestions. now is that true for most pairs. it never really occurred to me that the big wigs in NYC like to take a lunch and break from the market.

it took me a few hours but i made up my loss and the price finally hit 156.50, even though it dropped down to 155.50 before this.

i hope everyone got their share of pips today. the E/J has been going crazy the last few days, bouncing off S/R Lines as well as pysch lines. another couple of weeks like this and i can retire!!!!

Just to show that this indicator also can be successfully used to scalp on a 1 min chart. Here is a trade I just did.

EuroYen buy @ 156.86 16:36

Close @ 157.00 @ 16: 39 for a sweet + 14 pips 3 minutes work !:-) Thanks Dollie

I enclosed the chart plus my account statement ( the trade in blue) where I actually made the trade

1st vertical red line was my entry
2nd red vertical line was close position

So many of these small moves all day long. Go get them !

nice move FX. i to concentrate on the 1min charts. i generally look to the 5min charts and don't trade against the color of the LSMA for example, if it is green on the 5min chart i only go long.

good trading and continue posting. it helps all of us.

I take it that your chart etc. is in the Word doc. For some reason, I can't seem to open it, so could you kindly post the chart as a normal attachment? I always like to see how different folk prosper using Dollie.

Cheers.

Chart daily GBP USD

regards
khalid

great traders have left this gold mine and i dont really know why. may be the system discussed there is no more relevevent for there trading strategy or its no more working but sincerely i will want them to keep this thread going .eye, blanca, bc, pip and all others too pls come back because of we new entrant

What is the PT() indicator at the bottom of your chart. It looks like it would really help indicate when the trend starts.

Are you going to post it?

Thanks,

Randy

I thought it would be a bit easier if I offered you a visual example of what I was talking about in my PM to you.

If you look at the first vertical line: This is where the DZ is giving a "heads-up" on a possible short trade. The only other indication is the RSI2 dropping through the zero line in the middle window, so we wait for further developments.

The second vertical line indicates where we might enter the trade. Again, the DZ is indicating a green/blue cross. Above, in the middle window, the RSI2, the CCI6 and the ASH are all coming together at the zero line and they end up doing what we want them to do. RSI2/CCI6 cross down through the zero line, and the ASH crosses up, creating the orange/blue trading zone.

I told you that I don't usually wait for the lsma3 to enter the zone, but rather I follow the CCI6 as THAT enters. You could enter there, but preferably, it would be better to wait until the next candle closes and the one after that opens up under the M2 line. As you can see, there is then a nice drop to the S1 line, yielding around 40 pips or so. Exit the trade as the lsma3 leaves the orange/blue zone and that little spinning top/doji type candle forms.

I hope that's clear enough for you, mate. If not, give us a yell!!
Cheers for now.

Hi eyevoltage, and others that are trading this method for a while. I am going to post two pics of trades, with my analysis, I would really appreciate any feedback to see if my thinking is ok. thanks in advance.

Since the ST lines are above the LT lines, we are looking for longs. The first vertical line gives us a confirmed cross of the orange and blue lines. Second vertical line gives a confirmed RSI2 above 0 line, and also cci above 0. Third vertical line gives us an entry at close of candle as lipsa turns green at close of this candle. Seems like a pretty good trade as the next candle gives us 40pips with quite some ease.

But my analysis is that this would have been a no trade, as the ASH did not come down from 0 line in the most recent candles. Yes it did cross the 0 line, but that was like 8 hrs ago. What say you?

Regards,
K.

This is the second pic.

The first vertical line gives us a cross and the ash above 0 line. second vertical line gives us a red lsma, and third vertical line gives us the entry at close of candle.

Thanks in advance.

Regards,
K.

Ok, while taking those pics and setting up my charts, I came across a potential problem, that I could encounter. Not to say you guys would, but to me it adds a variable, and that is something that I do not like.

This 0 line that is so critical to our entry criteria for the ASH to cross, or the lsma to cross (optional), will change with the degree of zoom for both of them, because it is only set for the RSI2. So the 0 line is for the rsi, so if u zoom in, it can cause what might first look on the ASH crossing, to appear to have not crossed, and vice versa on the zoom out.

Have you guys noticed this, and how do you handle it, or is it not that impt?

Regards,
K.

Two nice examples of taking the time to analyse before jumping in or not!!

Happily, Dollie gave us a method of trading that seems to have stood the test of time, but like any other method, it's important to do a little patient analysis before making any decision.

Taking your first example: I would have been hesitant to take any trade in a market that is so obviously moving sideways, with the Guppy LT's totally compressed, indicating indecision, consolidation or just plain "We're happy where we are!" Sure, the ST's can yield pips in such a situation, but IMHO, it's usually best to stay out until the MMA's start moving up or down again. The particular position you indicated, Kermut, is also right under a pivot point, which is always a nuisance, as you then have to wait for a possible cross in order to improve one's R/R. On top of that, as you pointed out, the ASH has been trailing along the bottom for 8 hours or so, so that any trade would be reliant solely on the RSI2/CCI6 before looking to see what the lsma3 is going to do. Much better for the ASH to be seen to come swooping down from an OB position as the price moves up.

As for your second example, Kermut, I can't see anything wrong with it at all. Price has been testing the Pivot line a few times, and finally manages to breach it. Your 2nd and 3rd vertical lines are significant in that, in my opinion, it's an area in this particular example where a measure of traders discretion comes into play. You COULD enter at the 2nd vertical, as the candle has opened just under the Pivot line. However, the lsma3 isn't in the zone yet. (Sticking strictly to the rules, it SHOULD be in the zone to trigger a trade, but, in my opinion, this isn't always necessary). You mentioned entering at the close of the candle under the 3rd vertical. Why not enter at the opening? After all, if you take a look at what's happening with the Guppy MMA's, there's every reason at this point to be confident of a good trade from that point, with a nice target such as S1 to aim for, which it eventually reached.

As far as your query regarding the lsma3 is concerned, I got tired of trying to figure out what the hell it was going to do next quite a while ago. For entry points now, I look at the CCI6 and wait for THAT to enter the orange/blue zone, then wait for a suitable entry point, should it appear. The only thing I WILL say in favour of the lsma3, is that it usually pin-points where one should exit the trade, and that's as it crosses out of the orange/blue zone.

The ideal situation for a short entry is for the RSI2/CCI6 to cross the zero line down as the ASH crosses up, with the lsma3 entering the orange/blue zone right away, with the reverse being true for long trades. Sadly, this isn't always the case. Still, a little caution and common-sense never came amiss!

Hope this helps you, mate.
Cheers