The DIBS Method... No Free Lunch continues

Merry X Mas Dibbers

btw. where are the old boys .. ?? still dibbing ?



EJ ...

PrymeTyme

I like the Recent Strength indicator that you posted. I have been unable to find it on this thread. Is it possible for you to share it with us please?


Thanks

Hi


sure

http://www.forexfactory.com/showthread.php?t=163158

just download teh RSsetup.zip and install into your Brokers MT4 folder

cheers

lets see how CJ plays out .. orders in place...

probably not the greatest i wouldn't be trading against the gap there myself, gaps have a tendency to fill before the market moves on.

WENDIGO

hi allready got stopped out


btw.. i dont care about anything .. i will use this strategy whenever a setup occures .. no mather at wich level or against resistance etc...
i play it stoopidly and simple pull the trigger.. and try to catch trends where i build positions along the way ... ofcourse i will lose some on the way ..

but thats ok.. as soon as a trend kicks in i make all back and more


here is the trading plan for that purpose.. (work in progress btw.)

DIBS + Millipede

Trading Style :
Position

Pre Market Routine:
Manage existing Legs and Groups

Homework : estimate strongest/weakest pair via recent strenght indicator
draw in close of Previous day bar


Chart Analysis:
as we allready have our last day close/open drawn in (24 hour wide)
we now wait for an inside bar to form and as soon as an inside bar
is spotted we prepare for execution and management

insidebar = An inside bar is a bar or series of bars which is/are completely
contained within the range of the preceding bar, i.e., it has a higher low and
lower high than the bar immediately before it

Execution:
we start trading at Frankfurt open (8 uhr)

First rule: We buy on a break of an IB if price is above the daily open and sell if it’s below
Put the buy/sell 1 pip outside the IB range and remember to add the spread. the SL is always set at the opposite side of the entry

Example: IB range is high @ 1.5500 and low @ 1.5400.
Buystop: 1.5501 + spread, SL 1.5399, BE 1.5503 + spread.
Sellstop: 1.5399 + spread, SL 1.5501, BE 1.5397. + spread

Additional Notes :
What if an IB has it’s high above the daily open and it’s low below the daily open?
Then you take the break that occurs, if it breaks to the downside then sell and vice versa.

2, 3 or more IB’s in a row – which one to take?
I would take the first one which is the largest just to be on the safe side.


Management:
if we have an open position we look where our First trouble areas are , if we overcome the FTA
we pull our SL to BE

as soon as our SL is at BE we have a Leg wich we will lable

Manage legs:
a leg can only consist of a position wich SL has pulled to BE
each leg is managed individually,surviving legs will be added to groups,

Group Management:
we have several groups overtime, where the oldest will be the highest ranked group
each group consist of several legs , depending on age and size if we diversify some
legs of a group , the remaining legs in that group will be put to the next higher ranked group

Exit:
Diversify positions to keep the equity curve smooth , and recover losses
risk max 5% of account

Diversify:
we diversify to keep balance/equity on a smooth upwards stride and recover losses, to gain buying power and to keep balance alive if we recover losses , we also look to close as manny legs to keep the gain at least 2times the loss

sounds like you also a follower of pipeasy's euqity millipede thread. i think thats where most people failed with dibs they tried to cut there winners short and there losses shorter. its all about letting the winners run and cutting losses short.

WENDIGO

"its all about letting the winners run and cutting losses short." - This is the core of DIBS system's logic!

yup guys thats what its all about ...

first leg in CJ is active (SL at BE).. lets see if it survives ..and some more legs will join in..

cheers

Hi, PrymeTyme!
I'd like to know where to get the indicator as in your second chart to show the "hottest hand" currency, please?
I really would like to use it for my trading.
yours,
haifan

the link to the indie , is just some posts above

http://www.forexfactory.com/showthre...22#post6321822

thanks a lot for the indy, PrymeTyme!

yours,

shunfeng

Could anyone tell me what BE means? And how thats associated with the S/L in the DIBS method?

I understand everything else, but i cant seem to find what this means. : /

Hi means move Stop/Loss to Break Even.

Cheers

Alan

Oh ok thanks.

Nice move on Eur/Jpy today! Any suggestion on how to trail this? I've seen several suggestions involving 20 period Ema.
I've decided to trail a stop just behind the MA level and see what happens. I really like the simplicity of this method.
David

As usual, came out early-must try to stick to own plan! The correct level looks to be at about 125.15 after price dropped through the 20MA.

"Peter Crowns" was online 2 days back, after so long ....on March 15th, 2013.
http://www.forexfactory.com/petercrowns

Dang, i missed something ...something related .
Peter..... if u read here again, kindly just email me Forex.Saint <AT> MailNull.com.
I have something interesting(for me & prolly for u) to discuss. Just a ping is enough.
Regards

Hello!

Just to say, that this strategy is Awsome! Are the original people still following it! Is Peter Crown Still alive trading it? Perhaps he is. It would be so great to have another post from him. I've checked my charts and in the recent months there were some amazing profitably trades following this simple yet powerful strategy.

Kind REgards

Hello!

I've been reading up on the DIBS method for sometime now, and I've been demo trading it for about a week.

Today on the USD/JPY Chart, an IB appeared. As the IB was above the daily open, I placed a Buy Stop order just above the high of the IB. And a SL just below the Low of the IB. However, the price did not breakout above the High of the IB. Now, I'm wondering should i keep the Buy Stop order there? Or do I just cancel the order.

Thanks in advance!

I've attached a chart too.