Dolly system - page 93
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This is just a thought, Dolly has those days when it opens in the BUY/SELL areas and common thoughts are that is a non trading situation.
Check out the 2 screenshots they are exactly the same time and timeframe
The 1st picture is Dolly in the standard setup based on the Daily CENTRAL PIVOT
The 2nd picture is Dolly altered to be based on the DAILY OPEN
Do you think it worthwhile to have the indicator so it can swap between being setup on the PIVOT or OPEN ???? to catch trades on days like today. Or should Dolly be based on the Daily OPEN so then any day would be a trading day?????
Just thinking out loud- what do you think, perhaps start another thread based on this trading idea/setup???
I vote YESS too,....it's brillian idea
Vote yes too. Suggest making it an option in the EA so that the user can decide between Pivot or Daily Open
Since different market situations could demand different actions I also think the best solution would be if the trader was able to decide between the Daily Open and Central Pivot.
Great work!
I find that Hist_StepMa could be a good filter for Dolly 5min
I think now we must find a good and workable filter to improve Dolly !!!!
11-22-2006, 03:29 PM
How come WSS does better than Dolly, if they both are clone??
hxxp://www.talkgold.com/forum/showthread.php?t=123182&page=24WSS and Dolly give the same signals. I've had screenshots from someone with WSS and there is no difference apart from WSS having a few extra indicators thrown in. The signals are exactly the same. I have my doubts about whether the stats on the WSS are indeed true. Are they based on actual trades? Or looked at after the day is over and the entries selectively used to create a false impression? If you picked the perfect entries and exits with Dolly, your results would be exactly the same.
WSS and Dolly are exactly the same signal so why not? It just happens that Dolly looks a whole lot nicer in my opinion so keep up the good work!
By the way, the biggest difference between Dolly and WSS is that Dolly gives credit to the author of the original indicator that BOTH are based on and that is Valasholic. That gives Dolly 100x more credibility.
@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?
I have my bad days. Don't we all? But I do end up in profit in the end. I don't always go for the full target as I said. I keep a very close eye on the market while I'm trading. If I see it's going to turn bad after 6 or 7 pips profit, I take 6 or 7 pips. After all, 7 pips is almost 10 right?
Conversely if I see the trade may take off, I sometimes extend my target, but I always start with 10 pips target as a "safe" trade to take.
hi jafar00.
i want to buy wss but i saw your last post here and want to ask you something;
you say that they are the same.So i want to try dolly #10. but i dont know how to use it. can you pls explain using of dolly. when will i buy and what are will be my TP and SL points. can you also send me a capture of your chart. thanks...
hi jafar00.
i want to buy wss but i saw your last post here and want to ask you something;
you say that they are the same.So i want to try dolly #10. but i dont know how to use it. can you pls explain using of dolly. when will i buy and what are will be my TP and SL points. can you also send me a capture of your chart. thanks...Here is a chart for u/j. You can see dolly has picked a buy at 116.99. I would watch the stochastic around entry time. If the fast (blue) line has crossed the slow (dotted white) in an upwards direction I would keep the trade as it is strong. If the cross happened around or below the "20" level I have added the trade may be especially strong and I could think about extending the target beyond the 10 pips I have set it at. You can also use Dolly's target and stop if you like, but I prefer to chose my own.
what do you think, perhaps start another thread based on this trading idea/setup???
You know,
My mega-uber-giga profitable (just loosing all the money till trend happens) EA is based on breakouts.
BUT! It calculates those breakout points not on the last day basis but on the last 4 hours before the start of trades. Which makes it that profitable. Besides that it starts 1 hour before other breakout systems. Which allows it to catch more moves that happen before the London session starts.
My point?
Ok. Don't flood with threads. Flood with results and EAs because EAs can be backtested and results show current situation in detail.
My point is that this idea is well worth it (I've seen this idea with daily open before and it was supposed to be much more profitable than original)
Its all good until trend happens.
So is there any way to see if its going to be a trendy day or a slow day?
metastock where did you get that Hist_StepMa? willing to share?
(search did not help)
Great work!
I find that Hist_StepMa could be a good filter for Dolly 5min
I think now we must find a good and workable filter to improve Dolly !!!!A nice syncronization
Could someone be kindly post the Hist_StepMa indicator so that we can do the forward test immediately?
@jafar00
Nice chart that you posted
cant wait for the result of the forward test
Still I am thinking if Dolly system changed from based on Daily Central Pivot into Daily Open, it will alter the system itself and be different with WSS. What do you think?