It's amazing how something so simple is so difficult for so many.
Thanks again for sharing, Peter.
http://i43.tinypic.com/312e6wl.gif
Thanks again for sharing, Peter.
http://i43.tinypic.com/312e6wl.gif
TRO
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DislikedGreat to hear from you again Peter and thanks for that very interesting and reassuring post.
I must also say that I'm extremely grateful and very much appreciate your contributions. I feel very fortunate to have come across this information so early in my Forex 'journey'.
I've been trying out the DIBS strategy for a couple of weeks, and am finally getting the hang of it, I think. My biggest problem has been getting out of trades that don't seem to be working out or taking profit too early, and not allowing trades to run longer, thereby not taking...Ignored
DislikedHey takenthepip, i hear you on the struggle to let the trade run,but when you think about even this trade that peter has pointed out to us, even if you where risking 0.5% of your equity in the trade, to date at the highest point your equity has increased a massive 26% on 1 trade!!! 26%.
this should be all the motivation needed to let the trade unfold and go where it wants to.
cheers
GeoffIgnored
DislikedGeoff, thanks for your encouragement. I look forward to letting more trades run next week. He who dares wins. (Still 'demo' trading, I must add).
Ignored
DislikedThanks a lot for teaching and guiding all of us Peter its quite generous of you.
I would be very grateful if you could answer just one question I have. I'm not asking for a solution to the question but just an answer please.
My question is do you take every DIBS trade in your recommended time period (9 hours you said)? Or do you further filter them out?
Many of us here are confused because you said you you have a way of knowing which ones have higher chances of success than others. Some of us here interpret that to mean your filter is only...Ignored
DislikedGeoff, thanks for your encouragement. I look forward to letting more trades run next week. He who dares wins. (Still 'demo' trading, I must add).Ignored
DislikedAnd going by that last sentiment, I suggest you switch to live trading asap. Understand the need to have the confidence in the skills that you have and I was the same. Trading 'pretend' money and making 'pretend' profits which although is kind of satisfying, it isn't really.
So, be daring and start winning matey!
Cheers.Ignored
Disliked...It may be that peter, thru experience, anticipates which inside bars will have a better probability of running than others...Ignored
DislikedYes it is a cool name
I think what is being asked cannot be answered in a neat little package.
I agree with what you have said above, experience is the answer.
As I have said before, IMO screen time is the key to unlocking this jewel.Ignored
QuoteDislikedi think this question has been asked numerous times before,
QuoteDislikedand i wouldn't be certain that peter will answer, although i hope he does,
QuoteDislikedbut my understanding is that peter takes the dibs trades when they occur in the first 6 to 9 hours of his day regardless,
QuoteDislikedthe only stipulation is if the close of the inside bar is up on the open of the day (up day) he looks to go long on the breakout of the inside bar and not short at all, and visversa.
QuoteDislikedIt may be that peter, thru experience, anticipates which inside bars will have a better probability of running than others, and that may be due to the day being an up in an up week in an up month ???? maybe???
QuoteDislikedmight be worth while adding this criteria to your trade recording process, then over time it may give you a clearer picture.
QuoteDislikedIf you start filtering out trades you will miss maybe the best, and to me it is surely curve fitting.
QuoteDislikedjust my 2 cents
cheers
geoff
Dislikedthanks
it sure has but it hasn't been answered by PC hence the confusion
I hope so too Geoff
appreciate your view on this but unfortunately lots of ppl have different understandings that why I asked the originatorIgnored
DislikedI crack up everytime i see your name NuckingFuts, see i did just then lol
cheers
geoffIgnored