DislikedI guess the only method to trade DIBS successfully is to trade consistently over and over again, and be ready when the major trend kicks in. It can get very irritating and frustrating......As a matter of fact, you will get stopped out at least half of the time after hitting 1:1.
I may be wrong but from my very very short experience trading this method, I realize I have to be very patient...taking almost every DIBS trade during the prime hours and let the market do the rest of the job. I cant determine where the market would go, but I can prepare myself but positioning more trades when a trend is developed. It is like playing darts blindfolded, you will miss most of the time, but when it does hit the board, this is where $ starts rolling in.
Since DIBS is all about being ready when the trend develops...has anyone thought of using the COT report to shed some light on where the price would go in the following weeks/months so that you will be ready when the trend starts and only look for breakout towards that direction?
I just started knowing about COT, and know little about how it is used to predict the trend. Anyone who has experience in using the COT, please share some insights.Ignored
Cot data is such a long term lagging indicator, perhaps the dollar index may be better for finding more rewarding possible trend changes that fit better with dibs!