DIBS Method EA

As discussed at "The DIBS Method . . . No Free Lunch continues", following the rules of the method from the first post, attached is my rendition of the system in MT4 EA form.

After back testing several variations, I am concluding there must be a considerable amount of trader discretion to make this method profitable. Strict adherence to the rules makes this method a definite loser over the long term.

To (over)optimize the EA for each currency pair will lead to disaster, because fitting the system to historic price action does not make a system profitable over the long term.

I'm interested in reading other opinions, if there are any...

Hehe... we had a thread on all this earlier.

Linky:
http://www.forexfactory.com/showthre...=110832&page=4

Thanks for the link, I thought perhaps I was missing something in the system rule set. My testing experiences with this system are corroborated by yours.

A reader alerted me to this DIBS...and had wondered if it was something
that I was working on. I'm a disciple of Charles Drummond and his "Point
and Line Methodology". Without reading very much of the comment on it....
can anyone verify if it may be very much simular to Toby Crabel's "Opening
Range Breakout"? Which is effective after an inside day.
ciao,
Tonyj

To all you DIBS'ers....may I offer a suggestion. This is a suggestion that
could give you a perspective as well a view from the bridge. Let me try to
explain some things that I find this view from the bridge. I can't go into all
the details of "inside days"...."outside days"...."lows above yesterday's lows"
..."lows above yesterday's close"...and "lows above yesterday's high, which
is called 'Mr. Jaws'". Just the opposite is of this explanation. Ask youself this
question? When does the market trade? As simple as that question may be....
most gurus refer the market as the past....thus we all have been brainwash-
ed by the past gurus. Because it's the DAY....and where the lower time
frames is what makes up the DAY. You have twenty hours in a day....1440
minutes.....864,000 seconds....take your pick. The only truth is the "tick"
or the other one..."PIP", depending from which perch comes the spittle
spraying. Price is the function of time....P=f(t). And it's that "tick" that you
are looking at in real time....and it is the same "tick" no matter where you
look in the market. It's that "tick"....that appears all the way up to infinity...
at the most we would probably check out the "yearly". The moment that
the "tick" pops....is the exact middle of infinity...so is your life. Now to the
suggestion....and that VIEW FROM THE BRIDGE. Go to your DAY....(that's
where's the market), and use your HORIZONAL LINE to mark at the OPEN.
Then use your VERTICAL LINE to mark your 'day range'. Now this sets up
a "quadrant" which is part of my Cartesian theorm. The market can only
appear in the First and Second quadrant going clock wise. (Of course....
the clock only goes to the right...and so does real time). The past is always
in the Third and Fourth quadrant....in other words....it's the graveyard...
and where all the footprints are left. That's where the past gurus have
erected their tombstones....and as UNDERTAKERS have been whispering
in our ears the songs of the ghost. And we've fell for it....and 95 % of us
have dug our own graves. Once you have this "quadrant" in....that is the
horizonal and vertical line.....you go to your hourly. Now you'll see where
all you DIBS'ers will have a "View From the Bridge". That "OPEN"....is the
line in the sand. The time starts right at that open...at 0000....no matter
what your 'hour glass' says....and your mentor PC mentioned and is correct
....it doesn't make any difference. Our one clue is yesterday's "high" and
how soon (if) the market breaks that high. That "high" is called the Keltner
Point...you might have some other moniker. That 'horizonal' line is the "time".
And it is that 'time' that moves to the right....in other words, the First
and Second quadrant is moving to the right. It's the cosine angle and
your 'range' is the sine angle....which goes up and down forming logrithm
and expondential giving you your "slope", which is the tangent angle.
But don't worry about that.....just watch where the market is in relation
to that 'horizonal'.....and where the 'range' is in relation to that 'horizonal'.
Is it mostly above or below? How far above or below....and how each 'hour'
is moving.....and "GUESS WHAT"?......that "TICK".....you don't even have
to even look at your tick chart. You can see where it is in relation to all
the time since the "OPEN". And all the Resistance and Support areas....
where Bill Williams calls them "Fractals".....oh well....to each his own.

You didn't complete your explanation.....??

Foster:
The above was a year ago. I've forgotten the thrust of the question.
There were questions that I had asked, but none were given. The
premise of the topic was "inside days" which is the premise of Toby
Crabel's contention. If your question is in my not finishing the theory
behind the Cartesian Cross (my version) then you are right. The
Cartesian Cross is my sole explanation of one way of looking at the
market. However, I ran into something that I hadn't expected. The
sure size of the market and it's mathematical dimension was over-
whelming. It will take years to break it down to simple terms...to
test it for its validity. No matter what...it will not be the Holy Grail.
I hope that is what you were referring to.....
ciao,
Tony

I tried strict adherence to one month and I earned about 20% of initial capital. My opinion is good but need to change the Stop Loss, it must add the SPREAD of pairs. this way you will not stop loss. sorry for English not correct

can you post couple of trades with entry, exit points ? this will help understand your rules. thanks

must be added to the stop loss the spread, this will reduce the losses

hello and hi

i downloaded the loose adherence EA File and it works great

the only problem is that its opening 2 orders
1 order with stop loss and target
the order order without a target only a stop loss

what time frame do you suggest the best and pairs please ?

thanks for any help

regards

Kassim

I think we need to understand the characteristic of this EA, especially WHEN the EA will work great (e.g trendy market, choppy marker, high/low volume period, falling/rising wedge, head shoulder, etc)