The DIBS Method... No Free Lunch continues

Quoting Shefa

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Hi Maximum,
I shell write you my opinion, regarding spreads,and I hope people will correct me (if necessary):
Supposing your broker charges 1pps for EUR/USD - then every enterance costs you 3 pps spread, as you enter with 3 lots. If he charges 2 pps - then every entrance cost you 6 pps, and so on.
Regarding entrance price, based on 1.3450-1.3500 IB :
If you enter at 1.3500, you might find yourself entering into a "double top". That's why you want to wait for the market to go 1 pps or 2pps higher - to be sure the price moved on.
The opposite is true at the 1.3450, where you want to avoid entering into a "double bottom" .
Regarding orders, my unsofisticated rule is :
1)If you want the market to change direction after you enter - this is a "limit" order.
2)If you want the market to continue its direction after you enter - this is a "stop" order.
Hopefuly, I am not wrong. You can check it yourself.

See you in your next post,

Shefa.

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Quoting maximus

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Great thanks!

It means if my broker eat 5 pips (for example) and i want to buy IB high (1.3500) i put my limit order on High+5 pips
Hmmm. It means that i lost my pips. The other way is to put directly on 1.3500... And it means I can get incorrect trade.... I must to make another test :-)

Great thanks for your answer!!!

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Quoting Shefa

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Hi Maximum,

NOT EXECTLY.
It means, that if your broker charges 5 pps - you replace it (unless it is GBP/JPY) !
Also, it means that if you made 69 trades - double it with the spread pps per trade, and sustract the result from the 2000 pps.
If you want to "buy IB high (1.3500)" you put a "stop buy" order on 1.3502. The spread will be taken a f t e r you entered the trade. This can be understood when you trade the software (a demo account).
I belive, any another backtesting will be more correct and teaching, if you make before some real demo trades.

I have to go now, and there are people better than me to help you today.
I shell be back tomorrow at about 05:00 GMT.

Wish you success,

Shefa.

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Quoting TradeStar

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Not sure anyone else has taken this.

I am short on this one based on the IB and encouraged by the weekly BEOB. Will see how it goes.

Regards,
TS

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Quoting TradeStar

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Not sure anyone else has taken this.

I am short on this one based on the IB and encouraged by the weekly BEOB. Will see how it goes.

Regards,
TS

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Quoting NowAndLater

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Looking at your chart that IB seems to have a lower low than the previous bar which does not qualify it as an IB.

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Quoting TradeStar

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Not sure anyone else has taken this.

I am short on this one based on the IB and encouraged by the weekly BEOB. Will see how it goes.

Regards,
TS

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Quoting Bemac

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Hmm. Do you have a reason I Should "Take this"...?
Old I know. But pertinent it is...Understand the system & then deal with it's nuances

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Quoting TradeStar

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Bemac,

Are you referring to the fact that I didn't ensure it was a proper IB

Or

the fact that I am bringing the weekly BEOB into consideration for taking this trade, which has nothing to do with the method.

I dropped a PM to you. Thanks in advance

TradeStar

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Quoting Bemac

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Got the PM. and feel I owe you an explanation.

Firstly, I do not see an IB on your Chart.

Secondly, If you are going to tell me that "Ahh, but They form an IB on a Higher TF", then you should be basing your Trade on That Higher TF.

Sorry if I {more than occasionally} come across as a hard & cynical taskmaster but believe me, I am not directly out for Your Money, & consequently, sometimes try defend it from {what I consider} lapses in attention.

I have, numerous times in my life, found myself in the position of being paid to enlighten others. That being said, I prefer the " You find your Mistake & I won't have to worry about it again " approach. That's all. No malice intended.

hth make you just a little bit richer.

*Edit* Perhaps James would like to comment {here or there} on any corroboration he may have noticed between the two. *End Edit*

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Quoting jarroo

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I've been looking at the Yens pairs for IB that occur between 0000 GMT and 0500 GMT (0100 EST). I do this with the Usd pairs but they have to be played off the 0500 GMT Open.

The Yens look like they do not have to be played off the 0500 GMT. If they do, that's even better.

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Quoting jarroo

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Usd/Jpy

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Quoting jarroo

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I've been looking at the Yens pairs for IB that occur between 0000 GMT and 0500 GMT (0100 EST). I do this with the Usd pairs but they have to be played off the 0500 GMT Open.

The Yens look like they do not have to be played off the 0500 GMT. If they do, that's even better.

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Quoting Rocroy

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GJ too

Attachment

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Quoting bogus

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Hi Jim, i see you have the indicator on your chart . Mine does too but it came up right after the 00 GMt bar. I'm wondering whether you consider if the inside bar is the same figure with either the top or bottom of the previous bar you discount it as not an inside bar. I'm just wondering, as I would consider it to be inside bar, but maybe I shouldn't, as some kind of filter?
Thanks, just trying to fine tune this great system.
Bogus

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Quoting robincys

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Just wanna to confirm the "opening of the day" is in 5 mins, right?

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