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Bemac May 30, 2008 6:53pm | Post# 381

...

Sorry to barge in to your house Bemac,
Ach, away 'n' bile yer heed. The door's never loaked.

btw, I detect a very Scottish background here, where do you hail from?

rgds, strada.
No Mean City. Glasgow. {what gave me away?}

Bemac May 30, 2008 8:38pm | Post# 382

Hello, Bemac...

I have just quoted this particular post in the DIBS thread...
Cheers!
Thanks House, I read it & I like it. Feel free to quote me in similar manner @ anytime.

FREEDOM! to choose {wish we had a little "Woad Smiley" hint hint}

HouseTrader May 31, 2008 10:24am | Post# 383

Thanks House, I read it & I like it. Feel free to quote me in similar manner @ anytime.

FREEDOM! to choose {wish we had a little "Woad Smiley" hint hint}
Thank you...

By the way... this one got my 5 stars too!

Cheers!

HT

strada Jun 1, 2008 12:22pm | Post# 384

Ahh, it was easy, you speak to people, even strangers! But then you're from Glasgow, don't get much of that over here in edinburgh. And no I'm not from edinburgh, I'm a Leither!

rgds, strada.

Ach, away 'n' bile yer heed. The door's never loaked.

No Mean City. Glasgow. {what gave me away?}

Pipfetcher Jun 2, 2008 3:45am | Post# 385

I 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.

Hi Peter.

Thanx for your reply to my post.I am very happy to see that you are still lurking around as i can see that you have a wealth of knowledge and that you can greatly contribute to any thread on this forum.

I would also like to thank all the other replies to my post as you all have valid points and I am constantly looking to becoming a better trader.

Good trading to all.

Bemac Jun 3, 2008 8:15pm | Post# 386

DIBS & Flags
 
Let's Combine as a Group. but keep the research Here.
{Peter, Please interject whenever you feel the need}

In all honesty, I haven't had time to do this study yet, hence this Q;

Q: What would you think if you found an IB that followed a PB & what if that PB was a component of an established Flag, Pennant, H&S, 3 Black/White, Trend...

AND; this is not intended to be written in code, so;

IB := Inside Bar. Lower High & Higher Low as compared to Previous Bar. {Wicks, Shadows & Bodies not considered.}

PB := Pin Bar := Pinnochio Bar; Long Wick {&} Or Long Shadow {The Pinnochio Nose} yet Open & Close are in Close Enough proximity to emulate the Eyes.

Flags, Pennants, Head & Shoulders, 3 Crows...
well, that my require some research on your behalf.

Spikehunter Jun 4, 2008 5:53am | Post# 387

IB's
 
Hi all,
Just a quick question.
Does the IB have to be next bar or can it relate to any previous bar going back to the opening hour (whatever that might be)
Thanks
Steve

priceaction Jun 4, 2008 12:05pm | Post# 388

EURUSD DIB set-up with higher time frame flag
 
2 Attachment(s)
I only stumbled across Peter's DIB method yesterday and spent today reading all of the thread. I'm impressed by what I've read from Peter ...not simply by his method, but by his tone and approach. His background adds even more credibility to his posts. Credit to Bemac for the way in which he has run the thread.

Taking a DIB on the 1hr time frame, with the added bonus of a flag on the 'higher' 4hr time frame, there could be potential for a DIB trade on EURUSD. Note that the flag is also slightly bearish with it; 1) consisting of higher tops and higher bottoms and 2) sloping against the trend.

From my understanding (which is limited as I'm new to DIB), the only fact that might cancel this as a potential DIB trade is that the high of the inside and outside bars are equal at 1.5472 on my live account chart shown below. However on my ProRealTime chart, the DIB is qualified by 1 pip.

It will be interesting to watch this unfold and I welcome comments on my observations.

Rob
.
Click to Enlarge

Name: dib.jpg
Size: 145 KB

dragosd1 Jun 4, 2008 1:30pm | Post# 389

I will consider it as a valid IB

Bemac Jun 4, 2008 6:54pm | Post# 390

Hi all,
Just a quick question.
Does the IB have to be next bar or can it relate to any previous bar going back to the opening hour (whatever that might be)
Thanks
Steve
I think I would require some convincing that IB's can Leap Frogs

priceaction Jun 5, 2008 12:45am | Post# 391

DIBS resulted in EUR/USD move at 1.5445
 
I only stumbled across Peter's DIB method yesterday and spent today reading all of the thread. I'm impressed by what I've read from Peter ...not simply by his method, but by his tone and approach. His background adds even more credibility to his posts. Credit to Bemac for the way in which he has run the thread.

Taking a DIB on the 1hr time frame, with the added bonus of a flag on the 'higher' 4hr time frame, there could be potential for a DIB trade on EURUSD. Note that the flag is also slightly bearish with it; 1) consisting of higher tops and higher bottoms and 2) sloping against the trend.

From my understanding (which is limited as I'm new to DIB), the only fact that might cancel this as a potential DIB trade is that the high of the inside and outside bars are equal at 1.5472 on my live account chart shown below. However on my ProRealTime chart, the DIB is qualified by 1 pip.

It will be interesting to watch this unfold and I welcome comments on my observations.

Rob
.
Price broke out after DIBS on the 1hr to the downside at 1.5445 yesterday. It also broke out of the 4hr flag.
Admittedly it occurred after the hours which Peter has suggested he prefers to trade DIBS, namely the first 9/10 hours of the day, with a day commencing at 06:00 GMT.

Awaiting more potential downward DIBS movement today.

Rob

billflet Jun 5, 2008 1:13am | Post# 392

Hi all,
Just a quick question.
Does the IB have to be next bar or can it relate to any previous bar going back to the opening hour (whatever that might be)
Thanks
Steve
I would think it should be next to the bar you're trading. Think of your IB, or sometimes successive IBs, as a spring compressing (market poising to do something but hasn't made up it's mind what). When the bar following the IB exceeds the high or low of the IB, it usually does it with a little burst of price action. This burst is often enough to boost you to the point where you can quickly take part of the trade off and be guaranteed at least a breakeven trade. Not to say your trade won't work, but if bars have passed between The IB and the bar you're trading (entering on), the edge provided by the IB will have diminished.

priceaction Jun 5, 2008 1:22am | Post# 393

I would think it should be next to the bar you're trading. Think of your IB, or sometimes successive IBs, as a spring compressing (market poising to do something but hasn't made up it's mind what). When the bar following the IB exceeds the high or low of the IB, it usually does it with a little burst of price action. This burst is often enough to boost you to the point where you can quickly take part of the trade off and be guaranteed at least a breakeven trade. Not to say your trade won't work, but if bars have passed between The IB and the bar you're trading (entering on), the edge provided by the IB will have diminished.
Billflet,

I was wondering the same thing as Steve.
Your explanation is excellent.

Thanks,
Rob

joselb Jun 5, 2008 4:07pm | Post# 394

Great thread!

I want to send my thanks to PeterCrown for this method, I like simple methods like this one.

My question would be:
why must we take the price 2 hours before London and not when London opens (2 hours later)?

Thanks a lot and keep on with this great thread.

Jose

PeterCrowns Jun 6, 2008 5:11pm | Post# 395

Great thread!

I want to send my thanks to PeterCrown for this method, I like simple methods like this one.

My question would be:
why must we take the price 2 hours before London and not when London opens (2 hours later)?

Thanks a lot and keep on with this great thread.

Jose
-Jose-

That might be an interesting for you to analyse.

It is possible you might discover something completely unexpected by doing it.

-PeterCrowns-

Bemac Jun 6, 2008 10:15pm | Post# 396

-Jose-
...
It is possible you might discover something completely unexpected by doing it.

-PeterCrowns-
Then again... It is possible you might discover you are trying to Elaborate on the Simple.

Sojourne:
Why is it, do you think, that there are so many who swear by, {thinking for a moment} PA or MACD or Stohs or Pivots or Fibs or MA's or Whatever?

The reason is "They Trade Them & have done so long enough to Trust them." In, Out, Hold, Add, Reduce?
What does {???} My System Tell me I should do? {Well that can't be right!}
If this scenario sounds {even fleetingly} familiar, let me be the first to inform you...
You Do Not Have A System /"Method"

The Reason so many swear by these various methods is because they have learned the nuances of that system. Without messing with it.

Seriously:
If you can conject a Modification to what Peter Posted that would Improve The Odds, Please {pretty please} Post It Here.

On the other hand, If that is not your objective, commit to forward testing it, Demo or Micro, until you have Proof it needs adjusting.

GL & HTH

dkhinckley Jun 6, 2008 10:58pm | Post# 397

-Jose-

That might be an interesting for you to analyse.

It is possible you might discover something completely unexpected by doing it.

-PeterCrowns-
THAT is SUCH a good answer! I heard it loud and clear and it wasn't even my question.

dave

Trumpcard Jun 6, 2008 11:53pm | Post# 398

PeterCrowns mentions identifying and then trading only the strongest (I presume for longs) and weakest (for shorts) markets. Do any of you guys actually do this or just take EVERY IB across the majors which occur in the first 9 hours or so? Could someone provide me another example of how to identify only the strongest and weakest markets? Thanks!

joselb Jun 7, 2008 1:00am | Post# 399

-Jose-

That might be an interesting for you to analyse.

It is possible you might discover something completely unexpected by doing it.

-PeterCrowns-
Thanks a lot for the answer PeterCrowns.

I also see interesting and testing the breakout of this line trading in daily (the line placed 2 hours before London though I am testing this line when London opens too) and I agree with you about trailing stops. Many times I have only got few pips instead the whole rally. Now I am only moving the SL to breakeven when I am in a good profit (50 pips or so) and letting the trade run, even if I finally get 0 pips. But other times I get a good profit with the whole rally.

joselb Jun 7, 2008 1:07am | Post# 400

Good point Bemac

what I am doing now is drawing a trend line and closing the trade when itīs broken in the opposite direction.

Then again... It is possible you might discover you are trying to Elaborate on the Simple.

Sojourne:
Why is it, do you think, that there are so many who swear by, {thinking for a moment} PA or MACD or Stohs or Pivots or Fibs or MA's or Whatever?

The reason is "They Trade Them & have done so long enough to Trust them." In, Out, Hold, Add, Reduce?
What does {???} My System Tell me I should do? {Well that can't be right!}
If this scenario sounds {even fleetingly} familiar, let me be the first to inform you...
You Do Not Have A System /"Method"

The Reason so many swear by these various methods is because they have learned the nuances of that system. Without messing with it.

Seriously:
If you can conject a Modification to what Peter Posted that would Improve The Odds, Please {pretty please} Post It Here.

On the other hand, If that is not your objective, commit to forward testing it, Demo or Micro, until you have Proof it needs adjusting.

GL & HTH


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