The DIBS Method... No Free Lunch continues
I noticed a bug whereby the last trigger wasn't being drawn correctly and was being drawn multiple times.
I've updated it in the original post I made here...
http://www.forexfactory.com/showpost...17&postcount=5
May still have issues with last trigger so if you notice any just let me know.
Lux
i have come up with some extra guidelines of my own that maybe could be of any help to someone:
1. if the open of the day is an IB it take only trades that agree with the direction of the weekly open (keeps you out of alot of bad trades, but occasionally keeps you out of good ones)
2. as for TPs and SLs i tend to close half of my position at 1:1 if its against the weekly open and the other half i move it to breakeven. if the trade agrees with the weekly open i close half at 1:1 and i keep half at my initial stoploss to give it space to breath as we are going with the weekly open. if it agrees with the monthly open and i like the price action i may not close the first half and trail it. (we are trying to ride big trends here, which peter talked about in some of his posts, that we could add to them and after weeks you could accumlate a BIG position)
and i quote him here:
and here:
there are alot of hints in peter's post, one that i have been thinking about the past days is this:
hope this helps people and gives us something to think about.
i have come up with some extra guidelines of my own that maybe could be of any help to someone:
1. if the open of the day is an IB it take only trades that agree with the direction of the weekly open (keeps you out of alot of bad trades, but occasionally keeps you out of good ones)
2. as for TPs and SLs i tend to close half of my position at 1:1 if its against the weekly open and the other half i move it to breakeven. if the trade agrees with the weekly open i close half at 1:1 and i keep half at my initial stoploss to give it space to breath as we are going with the weekly open. if it agrees with the monthly open and i like the price action i may not close the first half and trail it. (we are trying to ride big trends here, which peter talked about in some of his posts, that we could add to them and after weeks you could accumlate a BIG position
.
ozziedave
The daily trend can be established by what happens after 00:00 GMT. The opening price of the day is your starting point to determining the daily trend. If price is above the opening price for the day it's up, if it's below it's down. If price is going up and down around the opening price of the day in a fairly small range then more than likely you'll see a good breakout trade. You would just need to wait to see which direction the market takes you in. You may get some false breakouts but that happens in trading. I find that checking the 4hr or daily chart and trading with the longer term trend gives me a higher probability of a positive trade.
__________________
Dave
As I see it, the current candle is breaking the high of the last one on e/$.
That's it bogus.
i am using interbank too and the 04:00 bar has the same low
cool
