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

The DIBS Method... No Free Lunch continues

#11,341
Jul 24, 2021 7:07pm Jul 24, 2021 7:07pm

blunderbuss
Joined Jun 2008 | Status: Trader | 634 Posts

If you want confirmation, here it is.

Source: INSIDE DAY NR4 (ID/NR4) PATTERN TRADING GUIDE

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So we don't just need an "inside day"--we need an inside bar that has the narrowest range
of the four previous bars.

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare

#11,342
Jul 24, 2021 7:26pm Jul 24, 2021 7:26pm

blunderbuss
Joined Jun 2008 | Status: Trader | 634 Posts

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This is a chart showing various IB setups on a daily chart.

And here is the requisite girlie pic:

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare

#11,343
Jul 25, 2021 1:26pm Jul 25, 2021 1:26pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

Quoting blunderbuss

Disliked

If you want confirmation, here it is. Source: INSIDE DAY NR4 (ID/NR4) PATTERN TRADING GUIDE 3997329 So we don't just need an "inside day"--we need an inside bar that has the narrowest range of the four previous bars. {image}

Ignored

Thanks for the link, I was aware of the breakout entry, and I do check the lower time frames as suggested

I'm all over the IDNR 4 & 7

Cheers

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It takes a lot for me to IGNORE you, but you can try.

#11,344
Jul 30, 2021 8:51am Jul 30, 2021 8:51am

Ch6y
| Joined Jul 2021 | Status: Trader | 1 Post

Quoting smikester

Disliked

Trading conditions are better now for this method. This one's for you, Constantino. Thanks for reminding me... (And Mingary) {image}

Ignored

Hello smikester,

Do you trade through the extended periods of consolidation/choppiness (you mentioned last year was particularly difficult)? Or do you have an approach which keeps you out of the market at these times?

#11,345
Oct 25, 2021 8:28pm Oct 25, 2021 8:28pm

blunderbuss
Joined Jun 2008 | Status: Trader | 634 Posts

Hello all --

Just out of curiosity, I have been following a price of KC1 Coffee Futures from the CME
and back-testing it to see how profitable it would be using the Turtle-trading method.
Those charts are on display in this thread:
Futures: Energy, Metals, Grains, Soft, Indices, Rates | Page 18 | Forex Factory

I found some valid long entry and exit points, but then I wondered whether DIBS would
work trading futures, so I looked for IB setups on my daily chart. To make a long story short,
I quickly found three of them. They are circled below.

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So this method is not just applicable to forex markets (which experienced traders already knew).
This is proof that the DIBS method is perhaps an advantage even over the highly-touted
Turtle Trading method.

HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare

#11,346
Oct 26, 2021 6:47am Oct 26, 2021 6:47am

Ppin12
| Joined Sep 2021 | Status: Trader | 12 Posts

Hi guys, i'm new here, where are the indicators?

#11,347
Oct 26, 2021 2:32pm Oct 26, 2021 2:32pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

Quoting Ppin12

Disliked

Hi guys, i'm new here, where are the indicators?

Ignored

Have you read any of the recent posts?

https://www.forexfactory.com/thread/...8#post13507638

It takes a lot for me to IGNORE you, but you can try.

#11,348
Dec 11, 2021 9:26pm Dec 11, 2021 9:26pm

blunderbuss
Joined Jun 2008 | Status: Trader | 634 Posts

The DIBS method on coffee futures, KC1.

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I wanted to see whether this trend-following method would apply to other markets.
I've read other traders use DIBS for trading oil and PMs, but I had no back-testing
of my own to refer to... until now.

The chart shows the various several DIBS entry points since July 1, 2021. The first
one is dubious, depending on where you put your stop loss: if you put it at the low
of your inside bar, you would get stopped out. But if you put it at the low of your
previous bar, you would not get stopped out, and would capture a larger percentage
of the move. (This DIBS entry is marked with a red balloon.)

Of course, if you had gotten stopped out, you would have had another ideal DIBS
trade entry a few days later (marked with a yellow text bubble). There were six
solid DIBS entry points in this chart, all of which were driven by an upward trend
which was attributed to "transitory" inflation.

There is little reason to gamble on cryptos when you have such clear signals and
a clearly-defined trend in a popular market.

HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare

#11,349
Dec 11, 2021 11:17pm Dec 11, 2021 11:17pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

Quoting blunderbuss

Disliked

The DIBS method on coffee futures, KC1. {image}I wanted to see whether this trend-following method would apply to other markets. I've read other traders use DIBS for trading oil and PMs, but I had no back-testing of my own to refer to... until now. The chart shows the various several DIBS entry points since July 1, 2021. The first one is dubious, depending on where you put your stop loss: if you put it at the low of your inside bar, you would get stopped out. But if you put it at the low of your previous bar, you would not get stopped out, and would...

Ignored

Did you filter for trend direction?

Quite a few Inside Days were skipped, Oct 13 and 14, Nov. 2 and 4 in case you ask

It takes a lot for me to IGNORE you, but you can try.

#11,350
Dec 16, 2021 8:33pm Dec 16, 2021 8:33pm

blunderbuss
Joined Jun 2008 | Status: Trader | 634 Posts

Quoting Erebus

Disliked

{quote} Did you filter for trend direction? Quite a few Inside Days were skipped, Oct 13 and 14, Nov. 2 and 4 in case you ask

Ignored

Way back when I started I mentioned that (i) I was actually going to back-test
the prices using the Turtle Trading method (which I was reading about at the time)
and (ii) I was only going to focus on longs at first. (I am not a full-time trader,
so I was tracking the prices after work.)

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare

#11,351
Dec 31, 2021 4:46pm Dec 31, 2021 4:46pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

HAPPY NEW YEAR

Tuesday was the day

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#11,352
Feb 23, 2022 7:45pm Feb 23, 2022 7:45pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

EURUSD Inside Day working nicely

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#11,353
Mar 5, 2022 9:12pm Mar 5, 2022 9:12pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

That one sure worked

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#11,354
Apr 27, 2022 8:41pm Apr 27, 2022 8:41pm

pt49
Joined Apr 2006 | Status: Trader | 1,480 Posts

It's not that difficult when you trade with the Trend.

Over 500 pips on 27th Apr '22 Sydney time.
Increased account over 60%

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In the days of old when sailors were bold, and seldom if ever contented.

#11,355
Apr 27, 2022 9:06pm Apr 27, 2022 9:06pm

pt49
Joined Apr 2006 | Status: Trader | 1,480 Posts

A new day begins on a good note!

28th Apr '22

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In the days of old when sailors were bold, and seldom if ever contented.

#11,356
Jun 16, 2022 4:28pm Jun 16, 2022 4:28pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

BOOYAH, Inside Day really isn't an indicator method, it's a level determined by price only

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#11,357
Sep 1, 2022 1:57pm Sep 1, 2022 1:57pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,612 Posts

You had 1 job...

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#11,358
Nov 20, 2022 6:51am Nov 20, 2022 6:51am

ShadowdanceR
| Joined Nov 2022 | Status: Trader | 29 Posts

Quoting jarroo

Disliked

This is a continuation of the DIBS Method which was started at the No Free Lunch but all the coffee you can drink thread. http://www.forexfactory.com/showthread.php?t=56907 The bottom of the page is all of Peter's posts, thanks to doubletop. It is a must to read and study the above thread to be current with this thread. I would like to thank NowAndLater for putting this together. Opening time I think MPP sums it up nicely: 0600GMT is always 0600GMT. GMT and UTC never move all other times are +/- of GMT/UTC. ie london is currently...

Ignored

This thread is a classic. I remember reading posts from Peter Crown from many years ago. I think I'm going to try to revisit this trading idea again after reading the 1st post. Although PC said that his method works best during London session using H1 I believe this idea can be expanded using a bigger time frame such as the H4 time frame and the weekly time frame as the back drop. I think there is just a lot of inside bar indicator available in any trading platform and this one is probably one of the most used over at TV. What do you guys think?

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