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- 21 Jun 2008
Dolly Strategy
This famous strategy was developed at forex-tsd forum based at original idea by Valasholic. Some people involved in this project as like Ancoll, Linuxser, CJA, FiFtHeLeMeNt and Hulahula to create the indicators. Basic idea of this strategy is to catch price movement based at breakout of daily range start by certain price at certain time. The original strategy is placing stop order 20 pips above and below price at open price of daily candle. However, different broker usually start new daily candle at different time because of GMT differential. This matter can be solved by changing GMT parameter value at the indicator properties.
Some improvement have been made to minimize false signals. As seen at the picture above, there are some additional indicators for this strategy. GMACD, Digistoch, Moving Average, Dolly Trading Times, and Signal Auto Display are some of them. With these improvements, this strategy is one of the most profitable strategy if we can use it correctly. But like other breakout strategies, this Dolly System will make drawdown at sideways moment. So, learn this strategy carefully and try to trade in demo account before you decide to use it at live.
Instruction For Original Dolly System:
Buy Condition
- Place Stop Order at Buy Area
- Set TakeProfit at your preferred level like 1st TP Target, 2nd TP Target or at 50% level. Use this at demo first to learn the characteristic of every single pair before you set the TP and SL.
- StopLoss can be set at start of Sell Area or preferred value based at Money Management Strategy
Sell Condition
- Place Stop Order at Sell Area
- Set TakeProfit at your preferred level like 1st TP Target, 2nd TP Target or at 50% level.
- StopLoss can be set at start of Buy Area or preferred value based at Money Management Strategy
Instruction For Developed Dolly System:
Buy Condition
- Fast MA’s (blue) are above Slow MA’s (red)
- GMACD Signals (M1,M5) and Main Trend (M15,M30,H1,H4) are showing Trend UP
- Digistoch Signals (M1,M5,M15,M30,H1,H4) are Green (Trend UP)
- Trade at Euro Market (see vertical lines from Dolly Trading Time Indicator)
- Running Price is at Buy Area
Sell Condition
- Fast MA’s (blue) are below Slow MA’s (red)
- GMACD Signals (M1,M5) and Main Trend (M15,M30,H1,H4) are showing Trend Down
- Digistoch Signals (M1,M5,M15,M30,H1,H4) are Red (Trend DOWN)
- Trade at Euro Market (see vertical lines from Dolly Trading Time Indicator)
- Running Price is at Sell Area
Download Dolly v11 Template & Indicators
( right click and “save file as” )
