Dolly system - page 91
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TP=take profit,
SL=stop loss
If you dont know this info you need to look it up as this is basic knowledge.
This is not the thread to look for that kind of info. Please look else where.
In this forum you can find this information or run a search on google.I believe the question is how to use Dolly to trade. From what I know, the printed values on the left of the chart will telll one where to possibly put buy/sell with targets, blah, blah for the pair in question. I had also asked similar question at one time with no response.
I believe the question is how to use Dolly to trade. From what I know, the printed values on the left of the chart will telll one where to possibly put buy/sell with targets, blah, blah for the pair in question. I had also asked similar question at one time with no response.
thanks. you understand me
i know the basic rules but i have asked that where will i put them.
now the second question: what is the performance of the DOLLY #10
does anyone have statstics about it?
Well if I'm not mistaken, the answer is read. Or at least anyone will tell you that.
Gotta go through all posts in this thread.
hi friends i m new here. can anyone tells me how to use the Dolly#10
when will i buy or sell and what are the TP and SL points
for example: can i put pending order at the begining of the day?There's not really much to tell really. Dolly tells you possible entries and targets. I err on the side of caution and take 10 pip targets which almost always hit. You also need to be aware of what is going on in the market and have other indicators on hand. If I get a dolly entry, I switch to 15 minute timeframe and monitor the Stochastic to help decide if I'm going to let the trade run to target, or close earlier.
I use a 20-25 pip stop loss as well. Please remember to use a stop loss. It can save you.
As for when to enter, I've had best results entering pending orders around the end of the Asian Session up until the end of the European session, then I stop completely before the US traders get in the market and mess up the technicals
thanks dude!
I have added in Daily, Weekly & Monthly for those of you who want the longer term outlook, the MAJOR TREND can be turned ON/OFF by accessing the input tab.
As stated earlier you can load this Trading Signals indicator and the Standard G#MACD indicator and there are no problems with the computer speed or cpu usage.
gmacd_trading_signals_2.mq4
thanks jafar.
i also want to ask this ; i have 200 pips monthly target.
can i reach it with this system ( gbp usd, dolly#10 ,tp 15 pips sl 25 pips)???
Little tips using Dolly Breakout Strategy
Normaly i use for EUR/USD, USD/CHF, GBP/USD & USD/JPY
To set pending order (normally i'm waiting graph start new day (6AM - malaysian time)
SELL
1) GMACD - main trend H4 (for Major Trend) - RED color (DOWN Trend)
2) Set 'SELL LIMIT' at price (BUY STOP-1) + 5 pip
3) Set 'TP' at 20-40pip or using Price at SELL STOP-1 or SELL TP
4) Set 'S/L' at BUY STOP-2 TP price + Spread.
BUY
1) GMACD - main trend H4 (for Major Trend) - GREEN color (UP Trend)
2) Set 'BUY LIMIT' at price (SELL STOP-1) + 5 pip
3) Set 'TP' at 20-40pip or using Price at BUY STOP-1 or BUY TP
4) Set 'S/L' at SELL STOP-2 TP price + Spread.
I dont know it work for you or not. But it work for me :-)
Good Luck!BTW, how do you define your spread? The spread of which 2 price?
There's not really much to tell really. Dolly tells you possible entries and targets. I err on the side of caution and take 10 pip targets which almost always hit. You also need to be aware of what is going on in the market and have other indicators on hand. If I get a dolly entry, I switch to 15 minute timeframe and monitor the Stochastic to help decide if I'm going to let the trade run to target, or close earlier.
I use a 20-25 pip stop loss as well. Please remember to use a stop loss. It can save you.
As for when to enter, I've had best results entering pending orders around the end of the Asian Session up until the end of the European session, then I stop completely before the US traders get in the market and mess up the technicalsis 20-25 pip stop loss sufficient? whipsaw might kill it all. I have put stop loss at 40 pips and it always being hit and the market goes in my favour direction again.
any good advice on my this problem?
Reward Risk Ratio
There's not really much to tell really. Dolly tells you possible entries and targets. I err on the side of caution and take 10 pip targets which almost always hit. You also need to be aware of what is going on in the market and have other indicators on hand. If I get a dolly entry, I switch to 15 minute timeframe and monitor the Stochastic to help decide if I'm going to let the trade run to target, or close earlier.
I use a 20-25 pip stop loss as well. Please remember to use a stop loss. It can save you.
As for when to enter, I've had best results entering pending orders around the end of the Asian Session up until the end of the European session, then I stop completely before the US traders get in the market and mess up the technicals@jafar
you put 10 pips target and 20 pips for stop loss, means you will have Reward : Risk ratio for 1:2 , if the system goes 50% chance, you will lose for sure.
Could you please kindly explain this?