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The DIBS Method... No Free Lunch continues

  • #481
  • May 22, 2008 8:28am May 22, 2008 8:28am
Quoting Archiphage
Too late now, but re-entry was entirely possible. I took it, and am now free-riding. I got stopped out 2x before that, so I'm still down, but I don't let that bother me.
there must be something we can do to eliminate this kind of "winning trade killer". maybe I should put 10 pips down to the bar before IB. it may work.
  • #482
  • May 22, 2008 8:29am May 22, 2008 8:29am
Quoting robincys
So for this one, day trend is up. but I saw a few price patterns in hr1 and hr4 - which might support the up trend of day trend. I mean up.

Im newbie and made a big loss. just trying to catch up. correct me if im wrong
When you say "for this one" what pair do you mean?
Indicators show the past. Price Action "Indicates" the future.
  • #483
  • May 22, 2008 8:37am May 22, 2008 8:37am
Quoting jarroo
When you say "for this one" what pair do you mean?
We taking about u/chf, right? the chart u just attached.
  • #484
  • May 22, 2008 8:41am May 22, 2008 8:41am
Quoting robincys
there must be something we can do to eliminate this kind of "winning trade killer". maybe I should put 10 pips down to the bar before IB. it may work.
There isn't, other than just staying out around news releases. Getting stopped out is simply part of winning over the long haul. Learn to accept it and live with the painful little smacks the markets regularly deliver. By widening your stop, you are increasing your risk if you don't adjust your position size downwards. If you adjust your position size downwards, your wins are more numerous, but they are smaller. It's up to you which you prefer, but you must decide and be consistent in the application over a long series of trades. Otherwise, you will be using the one stop or another based on fear, and that will be a drag on your results over time.
  • #485
  • May 22, 2008 8:49am May 22, 2008 8:49am
Quoting robincys
We taking about u/chf, right? the chart u just attached.
Oh right. Good point. The 4 hour time is down and the Daily time frame is turning down over the last few days. But your right, the Daily trend since mid March has been up.

The break and then Daily close of the daily trendline told me that a down trend may continue.
Indicators show the past. Price Action "Indicates" the future.
  • #486
  • May 22, 2008 8:55am May 22, 2008 8:55am
Quoting HouseTrader
Good morning! You're welcome! 5:30am here in Brazil... everybody sleeping...

Parabolic SAR is fitting to me just fine so far, but I don't use the standard (0.02) values of the MT4 indicator, I use it set to 0.06... of course, it's a very personal choice...

I took 65 pips yesterday just using this method of trailing my stop on the CHF move...

Personally, since I started to use DIBS I had something like 70% winning, but I really like to "keep an ear on the ground" and do not take EVERY DIBS trade. Stay in the sideline on news, on big holidays (today, in Europe... maybe the US session will have some action?) don't take those IB's that com after a HUGE move (they often retrace more than the IB...), see which currency is in a "hot hand"... those kinds of things that make me scratch my head because of my lack of patience ... LOL... but it pays off....

Additionally, as Peter said, I'm only trading the big four (EUR/USD, GBP/USD, USD/JPY and USD/CHF).

Just as a remark, cause I see lots of potential trades on other pairs/crosses, but I don't get those trades: If we don't get the big guys interested on it, who is going to move the market?

Cheers!

and PIPs!

HT
Hello HT,

Thanks for your words. I am afraid, trading is more like a game for me, than like the "real thing". That's why I try all the currencies. In a few days, I belive I shell choose myself the right once, regarding that strategy.
I had a very bed day today. After the -48pps in the morning, I was checking the system in a way I did not do before. I made some conclusions, which will not nessecerily help, but I shell try them tomorrow, and share if it is worthwhile(?).
Also, I lost about 40 pps in the E/J IB, as I did not treated the spread correctly. and......missed the ling run of the G/J IB, as I wae reading about the resistance level, so I moved my s.l. to the +2pps too soon, and it was hitted.

Lucky me, there is a new day tomorrow.

I am happy for all those who have succeeded today,

Shefa.
  • #487
  • May 22, 2008 9:11am May 22, 2008 9:11am
Quoting jarroo
It may get stopped out. That's OK, because the worst I can do right now is have a 21 pip gain.
Well I got stopped out. 21 pip gain. Sure it could have been more but I was looking for a more long term trade. That was fun!

Now watch Price fall, and I should have keep my s/l at 1.0350 (top of IB)for a 0 pip trade. I'm sure that's what Peter would do.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #488
  • May 22, 2008 9:15am May 22, 2008 9:15am
Free ride in EUR!
Attached Image (click to enlarge)
Click to Enlarge Name: ibeur.gif Size: 12 KB
  • #489
  • May 22, 2008 9:16am May 22, 2008 9:16am
Quoting Archiphage
Free ride in EUR!

No I missed it.

Nice Arch.
Indicators show the past. Price Action "Indicates" the future.
  • #490
  • May 22, 2008 9:20am May 22, 2008 9:20am
Quoting Archiphage
Free ride in EUR!
I'm in on the EUR at 1.5734.
  • #491
  • May 22, 2008 9:28am May 22, 2008 9:28am
Quoting ozziedave
I'm in on the EUR at 1.5734.
We're bouncing at the week-long uptrend line. If we get some closes below there, it's ON!
  • #492
  • May 22, 2008 9:37am May 22, 2008 9:37am
free run on e/chf ! first free run for the day.

BTW, I found a quite similar IB system in babypipps dot com. u guy might wanna have a look of what's the filter they using.

http://forums.babypips.com/free-fore...s-per-day.html
  • #493
  • May 22, 2008 9:50am May 22, 2008 9:50am
Quoting robincys
free run on e/chf ! first free run for the day.

BTW, I found a quite similar IB system in babypipps dot com. u guy might wanna have a look of what's the filter they using.

http://forums.babypips.com/free-fore...s-per-day.html
Thank you very much, Robincys,

Interesting, and worthwile(?) to check it. I shell do it tomorrow.

Shefa.
  • #494
  • May 22, 2008 9:55am May 22, 2008 9:55am
Quoting Shefa
Thank you very much, Robincys,

Interesting, and worthwile(?) to check it. I shell do it tomorrow.

Shefa.
not sure, but they combine IB with SS, no mention about the trend. I think we can put then together. Gonna have a try on my oanda accout with very little input.
  • #495
  • May 22, 2008 10:24am May 22, 2008 10:24am
Dear all,

I am re-posting this as it got lost in the frenzy of other conversations.

I am eager to know the team's opinion on this.

Thanks much,
TS

Quoting TradeStar
Hi Jarroo and other DIBS followers

what is the current understanding on the re-entry. If we get stopped out on an IB only to see a bar or two later the trade going back in our way.

Do we again re-enter exactly at the same price with the same stop loss?

OR just move on and look for another opportunity?

Did Peter had a opinion on this and what do you folks do

I see quite a few cases in this week, where you get stopped out and price comes back and goes for a solid ride.

Thanks much in advance

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #496
  • May 22, 2008 10:35am May 22, 2008 10:35am
Quoting TradeStar
Hi Jarroo and other DIBS followers

what is the current understanding on the re-entry. If we get stopped out on an IB only to see a bar or two later the trade going back in our way.

Do we again re-enter exactly at the same price with the same stop loss?

OR just move on and look for another opportunity?

Did Peter had a opinion on this and what do you folks do

I see quite a few cases in this week, where you get stopped out and price comes back and goes for a solid ride.

Thanks much in advance

TS

My quick answer to this is you would re-enter. As long as the basic rules are not being violated, it's a playable IB.
Indicators show the past. Price Action "Indicates" the future.
  • #497
  • May 22, 2008 11:08am May 22, 2008 11:08am
Quoting TradeStar
Hi Jarroo and other DIBS followers

what is the current understanding on the re-entry. If we get stopped out on an IB only to see a bar or two later the trade going back in our way.

Do we again re-enter exactly at the same price with the same stop loss?

OR just move on and look for another opportunity?

Did Peter had a opinion on this and what do you folks do

I see quite a few cases in this week, where you get stopped out and price comes back and goes for a solid ride.

Thanks much in advance

TS
Yes, I re-enter with the same price and stop-loss. I also enter with a smaller position size, since my equity is now lower due to the stop-out. I just use a flat percentage of equity, and calculate the size based on the number of pips at risk in the trade. I'll re-enter multiple times until the opportunity no longer looks viable. That can mean any number of things... news approaching, end of day approaching, new signal in opposing direction, etc.
My view is that the price must eventually move out of the consolidation one way or the other, and if it's going to go my way, I am definitely going to be on board. (Considering the above-mentioned conditions, of course.)
  • #498
  • May 22, 2008 11:56am May 22, 2008 11:56am
Thank you folks.

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #499
  • May 22, 2008 12:01pm May 22, 2008 12:01pm
Another thing I observed while looking into this approach is, to consider the outside bars in the direction (bearish OB if below opening price / bullish OB if above the opening price, etc.,) and the break of the same.

Looks like fairly consistent in following through in the intended direction.


I am sure many of you would have already observed this. Appreciate your comments.

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #500
  • May 22, 2008 12:46pm May 22, 2008 12:46pm
Quoting TradeStar
Another thing I observed while looking into this approach is, to consider the outside bars in the direction (bearish OB if below opening price / bullish OB if above the opening price, etc.,) and the break of the same.

Looks like fairly consistent in following through in the intended direction.


I am sure many of you would have already observed this. Appreciate your comments.

Thanks
TS
OBs are definitely tradeable. They tend to be higher-risk entries than IBs, so you have to take them with smaller size. You can mitigate the risk by waiting for a retracement after the break. 50% is a good rule of thumb, but you can use anything that makes sense to you. Of course, as with IBs, the best trades will often offer no retracement at all. Stop goes at the opposite extreme of the bar, of course.
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