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The DIBS Method... No Free Lunch continues 11319 replies

Free lunch mentality 6 replies

No Free Lunch: Director's Cut 33 replies

Attachments: No Free Lunch but all the Free Coffee you can drink
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No Free Lunch but all the Free Coffee you can drink

the method still wording ????? any update????
OMG! 10 years since I have been here. Trade this method profitably to this day. Thanks Peter where ever you are.
4FXsake,

I've only just finished reading the thread.

I am surprised if it still works after so long, usually the market has a way to stop methods when everybody knows them.
Are you a slow reader, its only 35 pages :-) :-)
Spikehunter

It hasn't taken me 10 years. Ha Ha
I have started a re-read, must admit I originally read it while on holiday so it didn't really go in. Hope it doesn't take me 10 years :-)
I have added IB's to my current trading system and for ease of initial coding have used them on 15m charts. They seem to work very well. I have also highlighted them on the hourly so I can manually check those as well.
I have one question though about UP/DOWN days if anyone is around to answer it.

My understanding is as long as the Low is greater than the London Open, that's an UP day and High is less than Open for DOWN. So can a day go UP & DOWN in the same 24 hours?? I will read the thread again just in case no one left alive on the planet :-)
Happy to share my ideas. Also using Pivot levels, manually at the moment for trailing SL/TP.


FOUND IT
For the "Daily IBar Setup" or DIBS Method--- only take an upside breakout of an hourly inside bar if the breakout price is higher than the day's open and downside breakouts of an hourly inside bar only if the breakout price is lower than the day's open.



Just as a matter of interest I have been a member for 13 years under a different name.
Quoting abacus23
4FXsake, I've only just finished reading the thread. I am surprised if it still works after so long, usually the market has a way to stop methods when everybody knows them.
The Market cannot stop methods from working. That statement has so many flaws. (but that does not mean I disrespect you. peace)

The Core concepts of the market/trading are the same. they are like the fundamental laws of physics. Find a LOW risk Entry with a higher chance of Multiple Rewards per unit of risk. Nothing can BEAT this. Nobody can go against your method of 5:1 Reward to Risk and be profitable.

Hope it makes sense.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
Quoting dustbin
{quote} The Market cannot stop methods from working. That statement has so many flaws. (but that does not mean I disrespect you. peace) The Core concepts of the market/trading are the same. they are like the fundamental laws of physics. Find a LOW risk Entry with a higher chance of Multiple Rewards per unit of risk. Nothing can BEAT this. Nobody can go against your method of 5:1 Reward to Risk and be profitable. Hope it makes sense.
Dustbin,

Many thanks for your comments, no disrespect here.

Quoting PeterCrowns
{quote} If you can get to the point where you can survive 3 or 4 years of trading, barely breaking even or losing very little while trading a few times a week; you have much additional market knowledge built up. Then, when you find a decent, trading method and couple that with the ability "tradingwise", to chew gum and walk without falling down-- you can start making real money. -PeterCrowns-
As Peter's quote above, I seem to be here in my trading life, breakeven.

What I make in trending markets, I then lose over the next month while it ranges, so on and so on, I have been trading directional breakouts.

I have read all of your posts, it's selecting which IB's to trade seems to be the key, not taking every signal.

Do you want to mentor somebody, I am willing to put the work in.

Well you have to start somewhere, here goes...

Attached are my thoughts of the main 5 today.
Attached Images (click to enlarge)
Click to Enlarge Name: EURUSD-1-hour.png Size: 67 KB Click to Enlarge Name: USDJPY-1-hour.png Size: 76 KB Click to Enlarge Name: GBPJPY-1-hour.png Size: 65 KB Click to Enlarge Name: GBPUSD-1-hour.png Size: 79 KB
Click to Enlarge Name: USDCHF-1-hour.png Size: 72 KB
This is a great thread, I just finished reading everything, without a doubt I learned a lot.

Thanks to PC and all those who have contributed, there are undoubtedly several missing pieces but we will get them on the road.

The effectiveness of the DIBS method has not changed?
Quoting vgv8
The effectiveness of the DIBS method has not changed?
It is effective as long as you find a long term trend. Without a trend, you will be "cooked" very slowly.

It took me a while to understand that DIBS is more than simply exploring IB breakouts. DIBS uses IB breakouts in order to build positions, but that's not all. DIBS includes the "Infinite Yield" philosophy, so you are expected to keep all positions open "forever" (or until you see a clear reversion and close them). Without a good trend, even if you manage to build a number of winning positions, they will eventually get killed at BE or at relative small profits. Those profits might not be enough to pay for the many small losses.

It gets even worse when you enter too many positions during a ranging market: you have more losses than usual and the few profits get capped. Just check the monthly USDCHF chart and you will understand it.
"The reason I was born and came into the world is to testify to the truth."
I come back in this tread after nearly a decade and I know Mr. Crowns has gone long ago.... still A big thanks to Mr. Peter Crowns
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