The DIBS Method... No Free Lunch continues | Page 560 | 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

  • #11,181
  • Mar 19, 2018 9:38am Mar 19, 2018 9:38am
Quoting SuperPip
{quote} Hi! Thank you for your twists! I did some tests by programming the rules and my conclusion is DIBS is not working with currencies. There is small edge on DAX, XAUUSD, XTIUSD. But it is not enough for me. May I ask, how you make your entries? Still based on 1H DIBS? With regards, SP
yes, 1hr IBs, but in relation to the weekly open....
Look Sharp/Trade Tight
  • #11,182
  • Mar 19, 2018 9:47am Mar 19, 2018 9:47am
Quoting jmn5611
{quote} At least your iterations make market sense. 1. Good. The weekly open is the only universal open. 2. Good. Monday the range is usually small and you will get chopped up if you day trade. The market needs time ingest data. 3. Great. Stops over trading and revenge trading. Now I read on one of these threads that a few do not understand over trading. Over trading is throwing good money after bad. If you have been wrong a couple of times today, then you think you are smarter than price. Chill out and wait for the market to clearly tell you what...

I should have said, my weekly open, or the first print of the week, as we all know that will vary according to platform. I guess one could also use the previous weeks close, or even Mondays 06:00 GMT open also...but basically the idea is to take the hot hand concept, and apply it to the week.

Overtrading has killed more accounts, probably than anything. FX is a casino, open 24/7, lucky they don't serve free cocktails.
Look Sharp/Trade Tight
  • #11,183
  • Mar 19, 2018 9:51am Mar 19, 2018 9:51am
Quoting harvest3r
and the entry on March 13th @1.3895 should have been closed anywhere between BE and a maximum of +100pips. ...
looking back, that was the trade of the week, at least in cable....care to share what you did with it, or didn't....
Look Sharp/Trade Tight
  • #11,184
  • Mar 19, 2018 10:05am Mar 19, 2018 10:05am
could anybody please let me know, where I can find the newest indi, please?
  • #11,185
  • Mar 19, 2018 1:08pm Mar 19, 2018 1:08pm
Quoting PayTheLimit
{quote} looking back, that was the trade of the week, at least in cable....care to share what you did with it, or didn't....
It hit my trailling stop at @1.40200 after today's rally. As I posted before, it was supposed to be stopped at BE on Friday but I decided to take the risk and keep the position open, hoping for a breach over 1.4000
"The reason I was born and came into the world is to testify to the truth."
  • #11,186
  • Mar 19, 2018 1:14pm Mar 19, 2018 1:14pm
Quoting renkotop
could anybody please let me know, where I can find the newest indi, please?
I use this one: https://www.forexfactory.com/showthr...93#post2070293

Not sure if it was updated back then. It has some small issues but works well enough for me.
"The reason I was born and came into the world is to testify to the truth."
  • #11,187
  • Mar 20, 2018 12:24am Mar 20, 2018 12:24am
Quoting harvest3r
{quote} It hit my trailling stop at @1.40200 after today's rally. As I posted before, it was supposed to be stopped at BE on Friday but I decided to take the risk and keep the position open, hoping for a breach over 1.4000
yes, and leaving the original stop would have kept you in....you take any signals yesterday...there was a few offered...
Look Sharp/Trade Tight
  • #11,188
  • Mar 20, 2018 6:43am Mar 20, 2018 6:43am
Quoting PayTheLimit
{quote} yes, and leaving the original stop would have kept you in....you take any signals yesterday...there was a few offered...
Yes, yesterday GU fell only enough to stop me. But today it looks like it's falling harder.

Didn't take any signals yesterday because was sleeping at the time LOL. Today I caught long UJ and short GU, though. Left a pending order for a short USDCAD on a second trading account.
"The reason I was born and came into the world is to testify to the truth."
  • #11,189
  • Edited 10:29am Mar 20, 2018 9:32am | Edited 10:29am
Quoting harvest3r
{quote} Yes, yesterday GU fell only enough to stop me. But today it looks like it's falling harder. Didn't take any signals yesterday because was sleeping at the time LOL. Today I caught long UJ and short GU, though. Left a pending order for a short USDCAD on a second trading account.

I passed on the yen, didn't feel like buying the highs..working some orders in cable now to get long, which feels like the strongest market on the board...

edit.. filled on GU at 1.4006..risking the lows, try for 1.4140.....and that should be it for today, cant see anything else developing....
Look Sharp/Trade Tight
  • #11,190
  • Mar 20, 2018 10:58am Mar 20, 2018 10:58am
Quoting PayTheLimit
and that should be it for today, cant see anything else developing....
It seems to be the case for UJ because it's holiday in Japan... but we have that G20 stuff, we never know... maybe some authorities decide to run amok on Twitter LOL

GU: got stopped on BE; UJ: still running but very close to a loss; NZD: short from @.7208 and became a free trade on my second account; USDCAD: skipped (luckily)

By the way, there is FOMC tomorrow. The market can have some huge moves.
"The reason I was born and came into the world is to testify to the truth."
  • #11,191
  • Mar 21, 2018 3:38am Mar 21, 2018 3:38am
Quoting harvest3r
{quote} It seems to be the case for UJ because it's holiday in Japan... but we have that G20 stuff, we never know... maybe some authorities decide to run amok on Twitter LOL GU: got stopped on BE; UJ: still running but very close to a loss; NZD: short from @.7208 and became a free trade on my second account; USDCAD: skipped (luckily) By the way, there is FOMC tomorrow. The market can have some huge moves.

indeed, should have some movement today...

UJ seems kind of strong, pulling back now, might give a long entry..
EU about to test last weeks close from below, after a decent down day yesterday, got an eye on that too..
GU has caught a bid to start, I just shed half my line, so got my free trade on, inside day yesterday...

I've decided to go with just three pairs, to further cut down on the number of trades....less is more me thinks....

Also decided to use last weeks close, as my measuring stick, just cause...but keeping an eye on Mondays open may be a good idea also...
Look Sharp/Trade Tight
  • #11,192
  • Edited 4:10am Mar 21, 2018 3:56am | Edited 4:10am
but as always, adding more lines to your chart complicates things...and can change your outlook, rather easily...I mean you cant compare everything to everything, there will always be some reason to not take a trade, or take it....I think you pick one, maybe two criteria, that for whatever reason you think have an importance, use that, and be done with it...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 49 KB
Click to Enlarge Name: EURUSDH1a.png Size: 48 KB
Look Sharp/Trade Tight
  • #11,193
  • Mar 21, 2018 4:27am Mar 21, 2018 4:27am
Further more, its midweek, what the hell are we doing back at the weekly close anyway....
Look Sharp/Trade Tight
  • #11,194
  • Mar 21, 2018 7:09am Mar 21, 2018 7:09am
Quoting PayTheLimit
UJ seems kind of strong, pulling back now, might give a long entry...
Hopefully that long signal will appear, I hate when a strong breakout happens without that. Not sure if the so called seasonality is just legend or a real fact, but it seems that March usually brings strength to JPY. It would be perfect to catch and hold a long position in the next days.


Quoting PayTheLimit
I've decided to go with just three pairs, to further cut down on the number of trades....less is more me thinks....
Agree. I do try to trade CAD, AUD and NZD on a second account, but not often. In the near future I would like to play some crosses and also some carry trade (ZAR, TRY), each one on a different account.
"The reason I was born and came into the world is to testify to the truth."
  • #11,195
  • Edited 11:12am Mar 21, 2018 10:11am | Edited 11:12am
Quoting harvest3r
{quote} Hopefully that long signal will appear, I hate when a strong breakout happens without that. Not sure if the so called seasonality is just legend or a real fact, but it seems that March usually brings strength to JPY..
there is one on the board right now...I'm considering if I should take it or not, think you will have to risk it down to 106.13 or so however, but its getting late in the day and with FOMC coming up you might not get a reasonable edge on it to take it through the whole shitstorm...

EU trying to get higher on the week again...


edit...I passed on it, no new entries this week, just gonna hitch my star to cable....laters
Look Sharp/Trade Tight
  • #11,196
  • Mar 22, 2018 2:31am Mar 22, 2018 2:31am
anyone take that UJ from last hour...certainly fits the bill, IB<Open<Last Weeks Close...however its Thursday, and we where within 20 pips of last weeks close...can't call it a hot hand, can you...sure it might work, and its a relatively low outlay to have played it, 15ish pips, but I'm leery....

at any rate, tp'ed on cable yesterday, and am done for the week...
Look Sharp/Trade Tight
  • #11,197
  • Mar 22, 2018 2:46am Mar 22, 2018 2:46am
Here is the big conundrum with this method:
Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy180322h1.PNG Size: 35 KB
Gone to a better place
  • #11,198
  • Mar 22, 2018 2:58am Mar 22, 2018 2:58am
Quoting smikester
Here is the big conundrum with this method: {image}
smikester, what we looking at, the IB getting tagged on both sides?
Look Sharp/Trade Tight
  • #11,199
  • Mar 22, 2018 3:02am Mar 22, 2018 3:02am
UJ hit 1:1 effortlessly....
Look Sharp/Trade Tight
  • #11,200
  • Mar 22, 2018 3:08am Mar 22, 2018 3:08am
Quoting PayTheLimit
{quote} smikester, what we looking at, the IB getting tagged on both sides?
We are above the US daily open and certainly above the week open. I don't want to buy. Why not?
Attached Image (click to enlarge)
Click to Enlarge Name: GbpJpy180322W1.PNG Size: 39 KB
Gone to a better place
17 traders viewing now