The DIBS Method... No Free Lunch continues | Page 556 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

  • #11,101
  • Feb 1, 2018 2:32pm Feb 1, 2018 2:32pm
This is really good thread. Brilliant strategy or system of you want. I have finished reading whole thread while ago and now trading DIBS live for three weeks. At the moment I'm slightly down with my balance. I'm risking 0.5% per trade, trading of the 1H,4H and daily TF. For SL I'm using 20 ema close on 4H TF. For someone it can be too tight or too loose. For me is ok. I was using 2/3 and 1/3 but for the long term profit I changed that to 1:1. My best catch so fast was GBP/USD from two weeks ago. It's really stress free trading
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20180124-151517.png Size: 211 KB
  • #11,102
  • Feb 6, 2018 9:41am Feb 6, 2018 9:41am
These are my current positions. Had another aud/usd, but stopped at BE
Attached Image (click to enlarge)
Click to Enlarge Name: aktualne.jpg Size: 47 KB
  • #11,103
  • Feb 21, 2018 6:26am Feb 21, 2018 6:26am
One year after my first trial of DIBS, I just restarted my trades.

After 2-3 losses, took this USDJPY trade @ 106.64. It went smoothly up, up, up... decided to close for +100 pips - my first "medium" fish!

It took less than 48 hours but boy... it seemed like forever! It showed me how strong is the psychological aspect of trading. So many worries during this time! "Shall I move the SL to BE now? Shall I close with +50 pips? OK, +80 must be fine, right? What if it retraces back to BE? But what if it skyrockets to +200 tomorrow?"

DIBS demands nerves. And no edge can help you if you are not disciplined.

Attached Image (click to enlarge)
Click to Enlarge Name: 20180221_USDJPY_H1.png Size: 34 KB
"The reason I was born and came into the world is to testify to the truth."
  • #11,104
  • Feb 21, 2018 12:38pm Feb 21, 2018 12:38pm
Monday it closed my USD/JPY position with 168 pips. I was holding it from 108.418. For SL I'm using 4H 20ema. Every four hours adjusting my sl. After three months I will check my good trades if enlarging of ema will help with holding longer trades.
At the moment I'm long on USD/CAD. One position is DIBS and one just 4 hour bar.
I changed my position sizing after I realised that if I was using same size lot from the beginning on every trade, I'll be in gren numbers now.
Overall it's profitable and simple strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20180221-183411.png Size: 123 KB
  • #11,105
  • Feb 22, 2018 8:29am Feb 22, 2018 8:29am
Quoting PeterCrowns
Your results obviously show the benefits of being willling to hold onto winners and put up with multiple losers, over and over again. (...) You really do get past the pain of losses at some point. When you finally realize that the losses are necessary discouragement to the individuals/institutions on the other side of our trades who haven't realized (or could care less about) the power of the "long tail". It simply becomes a matter of immediately saying (internally) after a loss, "next...."
I think it cannot be stressed enough: success comes when you learn to accept all losses, even multiple ones.

After doing some manual backtesting, I realized that DIBS has an edge. Nobody told me, no need to trust anyone - I saw it myself. And any edge will bring results in the long term.

So the greatest risk is not the DIBS "system" itself, but my inability to handle a losing sequence. Peter even ranted about that, because people wanted to make the system "better" by filtering trades. It means that we are still trained to minimize losses in a pathological level. We don't want pain.

After yesterday's winner, it was time to start over. GBPUSD showed a DIBS oportunity. The rule says: "don't look at the circumstances - take all the trades!" The anxiety of winning again was mixed with the fear of losing. To lose a maximum of -20 pips - what a stupid fear! Thought twice, then entered the trade short @ 1.3881 and got stopped at BE. Full victory against fear.

Attached Image (click to enlarge)
Click to Enlarge Name: 20180222_GBPUSDH1.png Size: 40 KB
"The reason I was born and came into the world is to testify to the truth."
  • #11,106
  • Feb 22, 2018 9:12am Feb 22, 2018 9:12am
Quoting harvest3r
{quote} I think it cannot be stressed enough: success comes when you learn to accept all losses, even multiple ones. After doing some manual backtesting, I realized that DIBS has an edge. Nobody told me, no need to trust anyone - I saw it myself. And any edge will bring results in the long term. So the greatest risk is not the DIBS "system" itself, but my inability to handle a losing sequence. Peter even ranted about that, because people wanted to make the system "better" by filtering trades. It means that we are still trained to minimize losses...

I was with you in that trade, nevermind, this week I lost so far £3.32 because Im testing another strategy as well the Building an equity millipede. But overall the whole week is very ranging. I'm trading 4H bars and daily DIBS bars as well. Yesterday I missed another dibs on usd/cad afternoon, today I managed one on usd/chf, that is still live :-).
The market looks like heading up again with the eur,gbp,jpy.
  • #11,107
  • Feb 22, 2018 9:21am Feb 22, 2018 9:21am
I also remember from reading this thread, not every inside bar is same, but those what looks bad are also winners and vice versa. Losses for me become like " ahh noo, next please",
  • #11,108
  • Feb 22, 2018 7:34pm Feb 22, 2018 7:34pm
@Chrobaxk: so you took the USDCHF short? Nice, me too :-) Let's see where it will bring us.

"Not all IBs are the same", that's right... It's an issue that Peter left very open for interpretation (or closed inside his small private circle of the "initiated ones").

That issue brought me to a halt some time ago - I couldn't be sure how to get only the "good" IBs. Finally I decided to simply take all trades and have as many losses as necessary, but also be sure not to miss any win. That's my understanding of "simple is best".
"The reason I was born and came into the world is to testify to the truth."
  • #11,109
  • Feb 24, 2018 6:36am Feb 24, 2018 6:36am
hi guys, great that someone still trading using this method. i just happen to know this thread last week, and starts to read from beginning. i also learn how to code this into EA at least open the trade. in terms of exit either fix TP, trailing.. i still dont know which way is better.
  • #11,110
  • Feb 26, 2018 9:22am Feb 26, 2018 9:22am
Quoting happytrade38
in terms of exit either fix TP, trailing.. i still dont know which way is better.
IMHO this is the only big issue with DIBS and I would say: it depends on the market conditions.

Some people might say (and probably said it already) that the market in 2008 was different and DIBS cannot be profitable anymore. While the former might be true, I strongly disagree with the latter.

In volatile markets, you will be stopped quicker if you trail your stop too tightly, so better leave wide stops and be patient.

In ranging markets, "scalping" might be profitable, or at least compensate for the losses. By "scalping" I mean a TP like 50-200 pips. Peter wouldn't agree with that, I believe, since he expects the trader to endure 100s of losses waiting for the "perfect" +5000 pips trade.


By the way, today we had wonderful DIBS entries on USDJPY, USDCHF and USDCAD (among others) and I simply missed all of them! Oh stupidity...
"The reason I was born and came into the world is to testify to the truth."
  • #11,111
  • Feb 26, 2018 9:34am Feb 26, 2018 9:34am
Quoting harvest3r
{quote} IMHO this is the only big issue with DIBS and I would say: it depends on the market conditions. Some people might say (and probably said it already) that the market in 2008 was different and DIBS cannot be profitable anymore. While the former might be true, I strongly disagree with the latter. In volatile markets, you will be stopped quicker if you trail your stop too tightly, so better leave wide stops and be patient. In ranging markets, "scalping" might be profitable, or at least compensate for the losses. By "scalping" I mean a TP like...

With the TP, you can use 20 ema on daily TF as Peter suggested or closed price of daily candle. It's up to you, I'm still testing 20 ema on 4hr TF.
Regarding to today's dibs I catched all of them, minus usd/chf because it was right in the middle of the opening price and I was busy with others orders to set up. So A the moment I have aud/usd short, nzd/usd short, usd/cad long and usd/jpy long. Im testing gbp/jpy, but its very volatile. FOr today I have realised p/l of -£0,41 and unrealised p/l +£1,64
  • #11,112
  • Feb 26, 2018 6:26pm Feb 26, 2018 6:26pm
Quoting harvest3r
{quote} IMHO this is the only big issue with DIBS and I would say: it depends on the market conditions. Some people might say (and probably said it already) that the market in 2008 was different and DIBS cannot be profitable anymore. While the former might be true, I strongly disagree with the latter. In volatile markets, you will be stopped quicker if you trail your stop too tightly, so better leave wide stops and be patient. In ranging markets, "scalping" might be profitable, or at least compensate for the losses. By "scalping" I mean a TP like...
yes, totally agree..
  • #11,113
  • Feb 27, 2018 7:39am Feb 27, 2018 7:39am
Good afternoon? Does anyone catch the ride today? Its falling like a rock. Four signals, three at BE
Attached Image (click to enlarge)
Click to Enlarge Name: Dibs.jpg Size: 436 KB
  • #11,114
  • Feb 27, 2018 9:21am Feb 27, 2018 9:21am
Quoting Chrobakx
Good afternoon? Does anyone catch the ride today? Its falling like a rock. Four signals, three at BE {image}
Today is a good day, but am still in demo stage.
Will you take UJ trade, where the trade only kicks in after few hours after iB?
  • #11,115
  • Feb 27, 2018 9:36am Feb 27, 2018 9:36am
Quoting happytrade38
{quote} Today is a good day, but am still in demo stage. Will you take UJ trade, where the trade only kicks in after few hours after iB?
UJ not as it was late, there wasn't momentum. I'm waiting one, max two candles if the price is hoovering between high and low of the inside bar. After finished reading the building an equity millipede I'm thinking I'll switch my 4H tf Sl to daily 20 ema sl. At the moment just my thoughts
  • #11,116
  • Feb 27, 2018 6:43pm Feb 27, 2018 6:43pm
Quoting Chrobakx
{quote} UJ not as it was late, there wasn't momentum. I'm waiting one, max two candles if the price is hoovering between high and low of the inside bar. After finished reading the building an equity millipede I'm thinking I'll switch my 4H tf Sl to daily 20 ema sl. At the moment just my thoughts
great. will read the suggested thread.
  • #11,117
  • Feb 28, 2018 6:33pm Feb 28, 2018 6:33pm
GJ has sharp drop and you will be able to catch the train if you based on GMT start for JPY paird.. green pips
  • #11,118
  • Feb 28, 2018 7:13pm Feb 28, 2018 7:13pm
Quoting happytrade38
GJ has sharp drop and you will be able to catch the train if you based on GMT start for JPY paird.. green pips
Somehow I missed the signal for GJ today, but never mind, tomorrow is a new day.

Btw my floating profit just growing, yesterday it was 650 pips, today after few more positions is 1245 pips. This is my biggest catch so far.
  • #11,119
  • Edited 9:52pm Feb 28, 2018 9:36pm | Edited 9:52pm
I know were at forexfactory, but....from what I've seen, DIBS works better with futures than with forex. Specifically crude oil, es, and gold. In that order. And generally speaking, you want to stick with prime-time only, and avoid after-hours.

Quote
That issue brought me to a halt some time ago - I couldn't be sure how to get only the "good" IBs. Finally I decided to simply take all trades and have as many losses as necessary, but also be sure not to miss any win. That's my understanding of "simple is best."

I use additional filtration for my trades: I only go long on inside bars that are above the 24 hour line and are above the 72 and 90 smas (which Peter has on his charts in the last picture he posted.) And I go short if the conditions are the other way around. Also I suspect that the range of the inside bar may also be a factor; narrower range bars being superior to wider range ones.
  • #11,120
  • Mar 1, 2018 4:30am Mar 1, 2018 4:30am
Quoting Chrobakx
{quote} Somehow I missed the signal for GJ today, but never mind, tomorrow is a new day. Btw my floating profit just growing, yesterday it was 650 pips, today after few more positions is 1245 pips. This is my biggest catch so far.

wau, great! which pair so far contribute the most in 1245pips? how long you have been trading this method?

currently reading the building an equity milipede thread, it seems i read before and now is second time re-read the thread.. give me a lot of thoughts..

u mentioned you will exit based on daily 20 ema. what if you have both few positions long and short on the same pairs?
1 trader viewing now