The DIBS Method... No Free Lunch continues

EB

Because you seem a fan a Toby Crabel that fakeout as you call it is actually a powerful Spring ... and there you have crossed over to the dark side of VSA

Hey all. Is PeterCrown's presented strategy still being traded by anyone? I have a couple of small questions about that.

Hey. Can you tell if that is all the criteria PC mentioned apart from the pure criteria of placing the orders? I just started reading this topic and the only additional filter criteria I found was what he describes as trading the "hot hand". Everything but the latter seems very objective to me and therefore repeatable and. However I'm not quite sure how to also objectively define what the strongest and weakest market before looking for a potential setup forming after 6:00 GMT (i.e. what is described as trading the "hot hand").

Options, always there are options, 50 / 50



Monday inside of Friday

@Erebus do you trade this method or could you recommend something?

Not trading as a method but observe it as part of overall price action

Will recommend by PM

Cheers

Inside Day shows indecision was never truer than with this pair

Yes, for a living. [Some companies have given me the title and certificate of a "Professional Forex Trader" but that really doesn't matter lol]

The concept is simple. It has its bad weeks/months but you gotta hang in there. Better risk management always helps.

The REWARD is far higher when you chose two things correctly .

1. Only Trade the "HOT PAIRS". What does that mean/ Only trade the pairs that are generally HOT, What does that mean/ Only trade the pairs that are TRENDING. E.g. this month, none of the major, EU GU UJ really moved.

I am actually down this month on these markets. But have made some on the Indices (which at the time are also choppy). So make sure you know you can READ the market momentum and trend.

You are essentially trading the trend that you can see on the Daily Time frame but you're making entries on the H1. Only take the TIGHT small Inside Bars and make sure there is some sort of trend. Don't take signals inside what Al-brooks would call a TTR. (Tight Trading Range) (because a TTR could be an inside bar on higher time frame.)

2. RISK MANAGEMENT (there is nothing more to discuss apart from this that one should NEVER risk more than 0.5% or 1% per trade. And HANG IN THERE). IF I have consecutive 2-3 losing trades on 1% per trade, I drop to 0.5% until I recover.

Hope this helps.

cheers

ps: as my signature read,s ALWAYS go for 1:5 risk to reward trades (or more)

pps: I will add a screenshot of one of the trades i took on the Dow / US30 (just to bring some credibility to it)

Thanks for your kind answer. Will be reading though in in more detail later this evening here. There might be still hope for me hah

Edit: Trading only the „hot hand“ is what made me wonder if trading this kind of strategy is even tailored for strictly trading only one and the same currency pair. I actually wanted to backtest it but probably it won’t work out taking 1 trade/day following if there is an inside bar breakout signal after 6:00 GMT.

What Erbus posted with NR7 NR4 might help here to filter out some of the less optimal trading conditional days but not sure the very few setups which are then left over a 20 days month will be enough to end at an overall profitable result (even if small).

Will keep on reading and maybe testing.

M15 NR4IB breakout with H4 price action





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Is that an indicator on your chart showing these red lines with levels of entry, sl, tp?

Greetings to all members of this great forum.

I am an ordinary person who reads books about trading, trying to break through the thorns like many others. In my environment there are no people involved in trade. I unexpectedly found this forum and was a passive reader.

This post prompted me to write an immense feeling of gratitude to Peter.

Last year, I was in the Japanese yen market from March to October, and took almost all the DIBS in this segment. I can't find words to describe what I experienced!!! Now I clearly understand what Peter meant when he wrote that you need to be aware to take such deals !!!

I have a modest deposit. By that time, it was a drawdown of 50%, and its value was 500-600 dollars. But in the indicated period of time, I managed to gain a position of 3.5 dollars / point. In October, I closed all transactions. I could not resist further)).

I ended this story with 3000 and 200% profit. There are no words to describe my delight with this deal!
The method Peter pointed out is invaluable.

Of course, the method is excellent, but it must be applied very legibly. Apparently I did not fully understand the concept of the strongest / weakest market, because I began to receive a large number of unprofitable positions.

If Peter looks into this thread, then I express to him all the gratitude I can. To my regret, I have nothing more to share with him, and other participants. I have limited experience.
English is not my language. I wrote this post through a translator. If I made mistakes, then I apologize to everyone reading this post !!!
All good!

Love these DIBS

Markets' job is to fool most of the people, most of the time

But price action may indicate lower from here?

Do you like Inside Bars by the Day?

Here they are...

Just stumbled upon this thread and have read all the related threads. Very interesting. I did see references to trailing the stops using some volatility based stop. Can anyone care to share and example of such? Thanks!

Inside Day and now Bearish Engulfing forming

If only we could see that coming...

Yep

Anyone interested in Daily Inside Bars should follow this thread,

https://www.forexfactory.com/thread/...-smiths-method

Bump this up with what works.




Trade Responsibly

Someone asked how to make that chart so beautiful?

Lots of indicators, utilities, and years of experience is all it takes.