First post in the Dibs world. Been about in futures and FX for 5 years but only recently joined FF.
So what did PC show .. did he give a holy grail ? We all know about the existance of that !
No, he pushed the basics back into the centre stage ... a method of trading a repeating easliy identifiable pattern, supported by PA & direction, which when traded with good money management gave him a profit over time. He did the stats and reported net postive results from his executions. Repitition, dicipline and consistency were central.
I can think of several strategies that work statisticaly and are in common use by many. Will they work for all people or in all market conditions - again, no, I believe PC just chose Dibs as his tool of choice to ilustrate best practice. It alowed people to think about their practical and psychological application of the technique, and it's simplicity frequntly gives a moment of clairty and inspiritaion to many (the penny drops etc.). Dibs is a good and simple general technique that can work well under many conditions, it can be tweaked (I'm sure PC would think twice about taking a long into Major S/R etc.), and it has it's shortcoming, ... it is not the tool for every job.
I think PC did a good job in trying to empower individuals. I'm not too surprised he went quiet however as the question were becoming cyclic reflecting people not putting in the effort which can be very frustratiing.
Personally, I am always happy to be remnded of the baiscs as it is so easy to get off track.
...Just my (probably unwelcome) 2 pence input
So what did PC show .. did he give a holy grail ? We all know about the existance of that !
No, he pushed the basics back into the centre stage ... a method of trading a repeating easliy identifiable pattern, supported by PA & direction, which when traded with good money management gave him a profit over time. He did the stats and reported net postive results from his executions. Repitition, dicipline and consistency were central.
I can think of several strategies that work statisticaly and are in common use by many. Will they work for all people or in all market conditions - again, no, I believe PC just chose Dibs as his tool of choice to ilustrate best practice. It alowed people to think about their practical and psychological application of the technique, and it's simplicity frequntly gives a moment of clairty and inspiritaion to many (the penny drops etc.). Dibs is a good and simple general technique that can work well under many conditions, it can be tweaked (I'm sure PC would think twice about taking a long into Major S/R etc.), and it has it's shortcoming, ... it is not the tool for every job.
I think PC did a good job in trying to empower individuals. I'm not too surprised he went quiet however as the question were becoming cyclic reflecting people not putting in the effort which can be very frustratiing.
Personally, I am always happy to be remnded of the baiscs as it is so easy to get off track.
...Just my (probably unwelcome) 2 pence input
wash, rinse, spin . . . repeat