Dolly is Simple and Profitable
Two type of Dolly trading system; Dolly pivot and Dolly open. Both have same method, the different is just on where to start drawing price. So we can determine the buy and sell price.
Dolly Open
Start drawing price at open price. The rule is very simple, just enhancing +20 pips and or lessening -20 pips from open price. Then, buy at: open price + 20 pips and sell at: open price – 20 pips. Stop Loss (SL) at open price and Take Profit (TP) at open price “+” or “-” 40 pips.
Dolly Pivot
Start drawing price at pivot point. The rule is very simple, just enhancing +20 pips and or lessening -20 pips from pivot point. Then, buy at: pivot point + 20 pips and sell at: pivot point – 20 pips. Stop loss at pivot point and Take Profit (TP) at pivot point “+” or “-” 40 pips.
Order Example
Dolly Open:
open price = 1.9960
Hence BUY (buy stop) at 1.9980, SL 1.9940, TP 2.0000
Hence SELL (sell stop) at 1.9940, SL 1.9980, TP 1.9920
Dolly Pivot:
pivot point = 1.9960
Hence BUY (buy stop) at 1.9980, SL 1.9940, TP 2.0000
Hence SELL (sell stop) at 1.9940, SL 1.9980, TP 1.9920
Additional Info
- Calculate pivot point = ( yesterday high + yesterday low + yesterday close ) / 3
- Default for open price is Meta Trader server time.
Dolly MT4 Files
New Dolly is out now, Dolly version 11
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