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The DIBS Method... No Free Lunch continues

Quoting blunderbuss
​TWO MORE DIBS TRADES occurred over New Year's... I hadn't spotted any DIBS setups since the holidays got under way, but just after the New Year's holiday was finished, I found these two charts with clearly-defined IBs. (The USDCHF and EURJPY trades occurred at the same time. My chart-making skills are not the best, but you can verify the charts with your own software, as I "erased" the bar that comes before the IB on the EURJPY chart.){image}{image}
Nice!
Gone to a better place
Hi Guys,

May I know where get the latest EA for the DIBS? Thanks.
​USD/CAD

This one started BEFORE the UK open, which is marked by the first vertical orange bar. The IB is the first bar after the vertical blue bar.
Attached Image (click to enlarge)
Click to Enlarge Name: DIBS TRADE - 2016-01-26 - USDCAD resumed its climb until OPEC cut production.png Size: 34 KB
Life happens at the level of events. Trust only movement. - Adler
The DIBS method has great potential. I will learn how to use the concept in my trading. Thank you for this thread; and thanks to PeterCrowns who introduced it on FF a few years ago.

KP
Do your homework, follow the footprints of smart money
dear any one ... when i attach this indi its not showing me any dibs line.. any change should i do in the parameter.. i am in india gmt5.30+ hrs.. and my broker time is +5hrs.. please suggest me i have attached pic
screen shot
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 104 KB
Click to Enlarge Name: Screenshot2.png Size: 99 KB
Success is a Journey Not a Destination....... kind regards ramzam
Quoting ramzam
dear any one ... when i attach this indi its not showing me any dibs line.. any change should i do in the parameter.. i am in india gmt5.30+ hrs.. and my broker time is +5hrs.. please suggest me i have attached pic screen shot {image} {image}
I would advise not using an indicator. Try using the times suggested in Peter Crown's original posts.
Gone to a better place
Hi everyone! It seems like this tread is alive after almost 8(!) of initial post. I wonder - does anyone (including an author of the system) has a real-account statistics of trades since then? I'm currently working on the similar IB system and trying to collect the "conventional wisdom" on these type of the systems.
www(.)darkmindfx(.)com - free COT and US economic indicators
I SHALL NOW GO OUT ON A LIMB... and make a suggestion for other FX veterans to try.

I found this on the Bloomberg economic calendar. It's a note about the Bank Reserve Settlement, which happens twice a month.

I highlighted some important parts. Tell me what you think. Do you think this could cause a DIBS breakout?

Last week, there wasn't such a huge movement; so if this IS the secret, it doesn't work all the time.

But during the previous Bank Reserve Settlement, there was a pronounced move.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-02-03 An explanation of BANK RESERVE SETTLEMENT from Bloomberg.png Size: 49 KB
Life happens at the level of events. Trust only movement. - Adler
​THE "BREXIT" TRADE THUS FAR...on cable: ​(I'm currently waiting on a retracement)
Attached Image (click to enlarge)
Click to Enlarge Name: DIBS TRADE - 2016-02-24 - GBPUSD - the BREXIT trade of Feb 2016.png Size: 28 KB
Life happens at the level of events. Trust only movement. - Adler
Quoting vitzaza
{quote} hi chart , GU maybe IB H1 now if crossing black line , may be you could enlighten me with your method , thanks {image}
Recently when trading this method I've found that i would be getting stooped out a lot particularly price coming back on itself later in the day.
Many professional prop firms us 20 period ATR as their target for take profit. So I'm using that too.

The other thing ive found is that inside bars are being played by everyone else in a different manner, again proper firm playing inside day or week and ever hour failure.
So the want to see onside of the inside bar trigger and then reverse, which means we are on the other side of the trade.

Peter said originally that a Daily bias makes it more powerful which i would agree with in my testing, i think now the market has changed bigger confluence is needed.
I'm interested what others have found in recent market conditions
Thank you J16 & Trader Dante
Quoting chartergas
{quote} Recently when trading this method I've found that i would be getting stooped out a lot particularly price coming back on itself later in the day. Many professional prop firms us 20 period ATR as their target for take profit. So I'm using that too. The other thing ive found is that inside bars are being played by everyone else in a different manner, again proper firm playing inside day or week and ever hour failure. So the want to see onside of the inside bar trigger and then reverse, which means we are on the other side of the trade. Peter...
Sounds like you are getting inside bars mixed up with consolidation - something I am guilty of. The good ones are relatively rare. Try spending some chart time on 2 or 3 pairs. Look back, and find out the best inside bars and why they were the best. Then just take 1 or 2 a week based on that knowledge. Now i'll go off and see if I can take my own advice.
Gone to a better place
[quote=chartergas;8791487]{quote} Recently when trading this method I've found that i would be getting stooped out a lot particularly price coming back on itself later in the day. Many professional prop firms us 20 period ATR as their target for take profit. So I'm using that too. The other thing ive found is that inside bars are being played by everyone else in a different manner, again proper firm playing inside day or week and ever hour failure. So the want to see onside of the inside bar trigger and then reverse, which means we are on the other side of the trade. Peter said originally that a Daily bias makes it more powerful which i would agree with in my testing, i think now the market has changed bigger confluence is needed. I'm interested what others have found in recent market conditions[/quot
hi do u know coding ... then some ideas are there ..
Success is a Journey Not a Destination....... kind regards ramzam
This trade is happening now:

Attached Image (click to enlarge)
Click to Enlarge Name: DIBS TRADE - USDJPY - 2016-03-20 - trading the 30-year JGB auction and the Brussels terror attac.png Size: 75 KB
Life happens at the level of events. Trust only movement. - Adler
​Maybe I forgot to post this earlier...but I don't usually follow EURCHF.

Attached Image (click to enlarge)
Click to Enlarge Name: DIBS TRADE - EURCHF - 1h - 2016-03-03, 9 AM - TWO IBs..png Size: 67 KB
Life happens at the level of events. Trust only movement. - Adler
Quoting blunderbuss
I SHALL NOW GO OUT ON A LIMB... and make a suggestion for other FX veterans to try. I found this on the Bloomberg economic calendar. It's a note about the Bank Reserve Settlement, which happens twice a month. I highlighted some important parts. Tell me what you think. Do you think this could cause a DIBS breakout? Last week, there wasn't such a huge movement; so if this IS the secret, it doesn't work all the time. But during the previous Bank Reserve Settlement, there was a pronounced move. {image}
Thanks.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
​BANK RESERVE SETTLEMENT WEDNESDAY is drawing to a close...

Below, I'm enclosing a screenshot from the Bloomberg economical calendar, explaining why Bank Reserve Settlement Day is important.
Then I'm enclosing some charts to show some promising price moves that coincide with Bank Reserve Settlement Day. I put plenty of notes
on them, which I hope a lot of traders will find useful.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-02-03 (1).png Size: 48 KB


I first discovered this when I found a big move on the EUR/USD on the same day as Bank Reserve Settlement Day:

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-02-03 The EURUSD trade after the Bank Reserve Settlement, early Wednesday morning - a gain .png Size: 35 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2016-02-04 The EURUSD trade after the Bank Reserve Settlement, early Thursday morning - a gain o.png Size: 33 KB


Today, there was another big move on EUR/USD -- in the opposite direction. If you put in a short sell

at the UK open (3 am New York time), you would have a 98-pip move by 10 pm.

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-04-13 - Wednesday - Bank Reserve Settlement Day and the EURUSD drops 98 pips.png Size: 69 KB


Granted, it doesn't happen every time... But this is something to watch.
Life happens at the level of events. Trust only movement. - Adler
Magnificent thread. A big hat's off to you Blunderbuss in your dedication to this robust method and your excellent charts.
A DIBS TRADE SET-UP on USDCHF yesterday...

FWIW, this week I'm doing my "hot hand" charts differently. I usually go by daily opening prices, but that means switching charts every day. Now I've started a chart where I track weekly closes, Friday @ 4pm New York time. (I was always a little confused by this...)

This week, according to the Friday closes, the USD/CHF was the hot hand (out of the four biggies: EUR/USD, CABLE, USD/CHF and USD/JPY). It was UP 154 pips, so I kept an eye on it.

Sure enough, a DIBS set-up appeared yesterday. Here's the chart, with comments, the IB at 7 am and the OHLC prices. There are some suggested take-profit levels as well. (Um... the green arrows mark 0300h NY time, which coincides with the UK open. There is a vertical red line to mark midnight last Monday.)

Attached Image (click to enlarge)
Click to Enlarge Name: DIBS TRADE - USDCHF - beginning 2016-04-20, 7 am EST, includes the Draghi dip on 04-21 0830h.png Size: 68 KB


I'm guessing the stop/loss would be the LOW of the previous bar -- 0.9603, perhaps...

The ONE PROBLEM is that this trade violates the rule: only be willing to buy a market if it's up on the day.
Life happens at the level of events. Trust only movement. - Adler
Quoting Copernicus
Magnificent thread. A big hat's off to you Blunderbuss in your dedication to this robust method and your excellent charts.
Hear hear. Or the modern version: Word.
Gone to a better place
Quoting smikester
{quote} Hear hear. Or the modern version: Word.

Thanks for the kind words. We're all down here competing against the likes of JPM and Goldman Sachs,
so it behooves me to mention one or two things that might help us actually retire rich.

That reminds me... regarding the "hot hand" -- let us examine PC's words:

Attached Image (click to enlarge)
Click to Enlarge Name: PETER CROWNS - Secrets of trading - 2016-02-04.png Size: 219 KB


PC:

For the 4/6/8 hour charts and daily charts you check to see if you are up or down versus last week's close.

Now, let me see if I've got this right. I usually checked prices at the UK open every day; but now I've started
recording the weekly Friday closes and comparing them on a week to week basis. But should I
combine the two, and compare every morning price with the previous CLOSING PRICE on Friday?

That is to say, when I get up on Wednesday morning, I should take note of Wednesday's opening prices, and
compare them to the Friday close (as opposed to the Tuesday opening prices)?

Oh, just to make this post easy to find:

Attached Image (click to enlarge)
Click to Enlarge Name: BLANK sexy_gillian_anderson - FB-sized.jpg Size: 76 KB
Life happens at the level of events. Trust only movement. - Adler
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