DislikedUsually a MT trading method (which to my understanding DIBS mainly is) tries to give answers to questions like: what is the direction of the price, ie. trend, and what would be a good spot to enter.
DIBS uses daily open and price position against the daily open level as a tool for determining the trend. Not only a daily trend, but a long term trend, as DIBS profitability is based on those rare runners of several hundreds pips. Well, that does not feel very reliable way of determining the trend, does it?
The method of entering is IB, in the direction of the trend. Lets say that a pair is in uptrend, so the best way to enter is to buy on dips. Probably the developers of the method had noticed that price movement slows down when a dip is turning to uptrend again, and IBs are likely to be found there. But that is possible only if the dip bottom happens to be above the daily open level. That does not feel very effective either.
Both the way DIBS determines the trend, and entering practice are kind of "primitive" and error prone. There are far more better tools for determining trends and entries. For instance, using IBs may be a low risk entry method, but at the same time it brings along all the problems of noise, ie. one pip may stop your entry for a several hundred pip move.
In spite of the previous I believe that it is possible to make money using this method.
On the other hand, why to use DIBS, as there are better and more profitable tools to do the task?
RIgnored
Which better systems are you prepared to share?
PC has traded DIBS for some years (and still does), The Real Thing (who probably taught DIBS to PC) has been a pro trader for over 30 years - that gives me some confidence in DIBS. Perhaps i am just naive.
Ian