Thank You, Mr. Peter Crowns!
You opened my eyes...
Bluefish
You opened my eyes...
Bluefish
The DIBS Method... No Free Lunch continues 11,382 replies
The DIBS Method - No Free Lunch Returns 13 replies
Free lunch mentality 6 replies
No Free Lunch: Director's Cut 33 replies
DislikedRESULTS:
Pair__ ____#T __1:1__1:2_1:3_1:4_1:5__1:10___%1:1
EUR/USD - 137 - 66 - 41 - 29 - 25 - 23 - 17 ------48.1%
GBP/USD - 125 - 72 - 52 - 43 - 32 - 26 - 12 ------57.6%
USD/JPY - 139 - 61 - 37 - 27 - 23 - 19 - 7 --------43.8%
USD/CHF - 138 - 57 - 35 - 27 - 23 - 21 - 14 ------41.3%
In essesence 50% of trades reach at least 1:1 R prior to being stopped out.Ignored
DislikedI will make one huge point at this juncture.
The fact that a promising simple system is difficult to backtest should be a flashing light to you.
A good thing.
Anything easy to implement and test is also easy to destroy. DIBS will be more difficult to destroy because no two of you will trade the concept the same way.
-PeterCrowns-
PS: I am impressed with the effort so many of you have expended. -zinc6- Within your breakdown of potential profits you have given away the greatest potential of the method. PCIgnored
DislikedIn Peter's lastish post he mentioned "Your First Loss Is Your Best Loss." For those looking for some reading, I'd suggest this:
http://www.smartmoney.com/tradecraft...story=20010315
Yes it is in the context of stocks, but the information applies to all markets.Ignored
DislikedThis is a perfect example of a risky DIBS trade that is up against heavy resistance. Price tried to punch through 2 times before that and this IB
was right up against it. Why would u risk it and take a buy in this situation?
This was a very preventable loss for anyone who took this. When u learn to eliminate these it will make a big difference in your account.Ignored
DislikedGood job you hav a Minimal Loss Stop in place. These are the setups I wouldn't want to miss beacause you know what the say about Triple Tops... They Don't Last.Ignored
DislikedTaking profits at 1:1 is the one aspect of DIBS that I have had some trouble adjusting too and had to let it go--
--This may not be the situation with your style of trade. I also have modified the DIBS - I do not do hourly.Ignored