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The DIBS Method... No Free Lunch continues

  • #1,001
  • May 29, 2008 9:27am May 29, 2008 9:27am
Quoting bob_inabottle
Still in long Chf trade from yesterday, sl: 1.0339.... will be good to see how it holds up today!
How's that trade bob? Nice.
Indicators show the past. Price Action "Indicates" the future.
  • #1,002
  • May 29, 2008 9:45am May 29, 2008 9:45am
Are you still there, dollar bears? I guess we shall soon be finding out!
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  • #1,003
  • May 29, 2008 10:23am May 29, 2008 10:23am
Quoting Archiphage
Are you still there, dollar bears? I guess we shall soon be finding out!
was looking at the same thing and its long long long (just broke through it), well not yet but lets see wht happens on the restest of the old resistance (which hopefully will be support now), oil and gold still going down so the dollar should remain strong

EDIT: EUR and CHF also at big trendlines, and they are probably breaking through as well, GBP still not willing to move that much. Bernake to speak to soon. Lets see what happens
  • #1,004
  • Edited 1:34pm May 29, 2008 12:21pm | Edited 1:34pm
Quoting billflet
I live on the East Coast, my broker is on PST, and my data feed comes from Bolivia. I want to be sure I'm catching the open of the Malay Fish Market. Can you help me with the time conversion? I'm available to trade from 5:30 pm EST until almost 6:00 pm.


So cruel... Bolivia...

Just came back from the office...

Hope you fellows had a "pipfull" day (neologism is fun...)

I got some for me

Took the USD/JPY in the last night and still free riding...

Caught the EUR/USD in early morning (actually night... 4:00am here in Brazil) and still free riding...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #1,005
  • May 29, 2008 12:30pm May 29, 2008 12:30pm
Jim,
it's really the first one with this system i have let run, up over 140 pips so thats nice, trailing stop along with the 20sma (daily) that PC gave us the drum about. Even if i get stopped now its no problem.... just so simple, will keep you posted.
  • #1,006
  • May 29, 2008 1:32pm May 29, 2008 1:32pm
Wow guys, this is the most exciting thing I've found since, well, ever. I'm going to start trading tonight if I can keep my eyes open or otherwise on Sunday night.

Man, and I just got used to waking up at the ungodly hour of 11:30 AM GMT. Now it's all back again to late nights. I had so many duh! moments when reading that original thread it's not even funny!
  • #1,007
  • Edited 10:09pm May 29, 2008 1:58pm | Edited 10:09pm
Is this IB correct?

BK
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  • #1,008
  • May 29, 2008 2:09pm May 29, 2008 2:09pm
Quoting bob_inabottle
Jim,
it's really the first one with this system i have let run, up over 140 pips so thats nice, trailing stop along with the 20sma (daily) that PC gave us the drum about. Even if i get stopped now its no problem.... just so simple, will keep you posted.
I bet it won't be your last.

Good Job.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,009
  • May 29, 2008 2:11pm May 29, 2008 2:11pm
Quoting bkoori
Is this IB is correct?

BK
Yes that is an IB, but it is not tradable b/c time of day. Also it was below the days open, so you would be taking only shorts.
  • #1,010
  • May 29, 2008 2:25pm May 29, 2008 2:25pm
Quoting bkoori
Is this IB is correct?

BK
Not sure what your asking.

Is it an IB by definition. Meaning a lower high and higher low then that previous candle. Well the low is the same of the previous candle and by definition, no, is not an IB. But close enough in my book.

Is this a tradable IB in the DIBS method. Yes. The IB is below the Open of the day at 0100 EST, which means we would only trade the bottom of IBs. It is late in the day and this trade would be considered a low probability trade.

edit: thanks edwinnk-
Indicators show the past. Price Action "Indicates" the future.
  • #1,011
  • May 29, 2008 2:38pm May 29, 2008 2:38pm
Hi Guys,

Many of you know that the DIBS methodology was passed down from "TheRealThing" (another professional trader on the forum) to PC. I have visited "TheRealThing's" website and have downloaded another methodology called "First Strike". This week I used First Strike on the Eru and picked up 170 pips as of Thursday. The point I am trying to make here is that PC is the real deal and he knows what he's talking about. Visiting "TheRealThing's" website and having success with his methodology just reinforces the fact that both of them have a vast amount of experience trading and if we are smart we will follow their lead instead of trying to re-invent the wheel by adding 101 indicators to what they have shared with us. I urge everyone to learn and understand the basics of DIBS rather than adding more indicators and rules to it. Both of these traders know that these methodologies have a positive expectancy over the long term and that is your "edge" in trading Forex.
  • #1,012
  • May 29, 2008 3:19pm May 29, 2008 3:19pm
Quoting billflet
I live on the East Coast, my broker is on PST, and my data feed comes from Bolivia. I want to be sure I'm catching the open of the Malay Fish Market. Can you help me with the time conversion? I'm available to trade from 5:30 pm EST until almost 6:00 pm.
That's Hilarious... And you try to come across as a straight guy.

For a small fee, I can PAMM you into my fold and get you back that 25 MINUTES (or so) You Waste EVERY SINGLE DAY with this Due Diligence S#it.

Roll Up! Roll Up! See the Great Hairy Lady!
More hair under her Armpits than your Daddy has on his.. Hey Sonny... Is that a Quarter I see in your hand...Step right up...


"Once there was a way..."
But that involved WORK!
  • #1,013
  • May 29, 2008 3:29pm May 29, 2008 3:29pm
Quoting ozziedave
Hi Guys,

Many of you know that the DIBS methodology was passed down from "TheRealThing" (another professional trader on the forum) to PC. I have visited "TheRealThing's" website and have downloaded another methodology called "First Strike". This week I used First Strike on the Eru and picked up 170 pips as of Thursday.
Totally! The First-Strike method is very useful. I've mentioned before that my entries weren't quite right for this week... but the power of the idea is clear. I'm stopped out of GBP/JPY, never got into EUR, and still have GBP, CHF, and JPY trades all running and up considerably. Starting next week I'll be on track with the right entries, but just the idea of stopping into a trade and leaving it the hell alone for a week is a monster. Most people won't trade this way because A) it is too simple, B) it takes a lot of stop-outs, C) can produce some 70%+ drawdowns on the way to new equity highs. All I can say is 'Be dumb enough to follow the system and ignore your equity curve.'
Good luck out there...
  • #1,014
  • May 29, 2008 3:34pm May 29, 2008 3:34pm
Quoting ozziedave
Hi Guys,...

The point I am trying to make here is that PC is the real deal and he knows what he's talking about. Visiting "TheRealThing's" website and having success with his methodology just reinforces the fact that both of them have a vast amount of experience trading and if we are smart we will follow their lead instead of trying to re-invent the wheel by adding 101 indicators to what they have shared with us.

I urge everyone to learn and understand the basics of DIBS rather than adding more indicators and rules to it. Both of these traders know that these methodologies have a positive expectancy over the long term and that is your "edge" in trading Forex.
OZI.D, If you are not there yet..{the position of being a Positve $ Trader}.. You are kicking the door down.

If You ARE there already.. Then your comments carry even More weight.

Oh, to the general membership, I'm not referring to DIBS only but to your Trading as a whole.

Before you add your 1st year apprenticeship ideas to the design, Make sure the Journeyman's ideas need fixin'
  • #1,015
  • Edited 9:22pm May 29, 2008 7:20pm | Edited 9:22pm
Quoting Bemac
That's Hilarious... And you try to come across as a straight guy.

For a small fee, I can PAMM you into my fold and get you back that 25 MINUTES (or so) You Waste EVERY SINGLE DAY with this Due Diligence S#it.

Roll Up! Roll Up! See the Great Hairy Lady!
More hair under her Armpits than your Daddy has on his.. Hey Sonny... Is that a Quarter I see in your hand...Step right up...


"Once there was a way..."
But that involved WORK!
There are quite a few nasty posts like this appearing lately, in relation to people seeking clarification as to the timing used for the start of day. Unfortunately confusion rained for those in many parts of the globe asking the question so as to a line their trading with those referring to EST as though there was only one EST in the world.

Might I ask you to consider that the question was a simple one and that there was no confusion with the question. Therefore the confusion lies with the answers. If people could not answer a simple question without confusing the issue, perhaps that should not be so quick to mock those asking the question.

Unfortunately this distracted from the main thrust of the thread. With the number of people asking and the number helpfully responding but unfortunately not seeming to know themselves, perhaps some more senior members here could have provided a clear and accurate explanation in the Forex Rookie "Q&A section". That is after all where this thread originated and gained a following. Then any distracting from the thread could have just been referred to the Q&A.
Good Trading
  • #1,016
  • May 29, 2008 7:57pm May 29, 2008 7:57pm
Amazing how these things have started to pop up lately...

Does this system already have a thread?

R

Quoting ozziedave
Hi Guys,

Many of you know that the DIBS methodology was passed down from "TheRealThing" (another professional trader on the forum) to PC. I have visited "TheRealThing's" website and have downloaded another methodology called "First Strike". This week I used First Strike on the Eru and picked up 170 pips as of Thursday. The point I am trying to make here is that PC is the real deal and he knows what he's talking about. Visiting "TheRealThing's" website and having success with his methodology just reinforces the fact that both of them have a vast amount of experience trading and if we are smart we will follow their lead instead of trying to re-invent the wheel by adding 101 indicators to what they have shared with us. I urge everyone to learn and understand the basics of DIBS rather than adding more indicators and rules to it. Both of these traders know that these methodologies have a positive expectancy over the long term and that is your "edge" in trading Forex.
  • #1,017
  • May 29, 2008 9:38pm May 29, 2008 9:38pm
Quoting aud
There are quite a few nasty posts like this appearing lately, in relation to people seeking clarification as to the timing used for the start of day. Unfortunately confusion rained for those in many parts of the globe asking the question so as to a line their trading with those referring to EST as though there was only one EST in the world.

Might I ask you to consider that the question was a simple one and that there was no confusion with the question. Therefore the confusion lies with the answers. If people could not answer a simple question without confusing the issue, perhaps that should not be so quick to mock those asking the question.

Unfortunately this distracted from the main thrust of the thread. With the number of people asking and the number helpfully responding but unfortunately not seeming to know themselves, perhaps some more senior members here could have provided a clear and accurate explanation in the Forex Rookie "Q&A section". That is after all where this thread originated and gained a following. Then any distracting from the thread could have just been referred to the Q&A. But then why be constructive when you can be a smartarse.
Oh dear, I wasn't aware there were multiple EST's on the planet but that's beside the point.

You say "perhaps some more senior members here could have provided a clear and accurate explanation in the Forex Rookie "Q&A section".

Read This!
http://www.forexfactory.com/showpost...5&postcount=61
If you are having a problem with the Math involved in this, perhaps you should ask this question in a Mathematics Forum.

And yes, I am very aware where this thread originated.

Hopefully you can maintain your "Help the confused Rookie" attitude after You have been asked the same question Over & Over because They just don't have the time to read, or knowledge to understand, it.

Sorry Jarroo et al, had to say it.
  • #1,018
  • May 29, 2008 9:39pm May 29, 2008 9:39pm
Quoting Rocroy
Amazing how these things have started to pop up lately...

Does this system already have a thread?

R

Well, tkimble's weekly scalping is very close to this first strike method. I have seen TheRealThing contributing primarily on that thread.

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,019
  • May 29, 2008 10:17pm May 29, 2008 10:17pm
Quoting jarroo
Not sure what your asking.

Is it an IB by definition. Meaning a lower high and higher low then that previous candle. Well the low is the same of the previous candle and by definition, no, is not an IB. But close enough in my book.

Is this a tradable IB in the DIBS method. Yes. The IB is below the Open of the day at 0100 EST, which means we would only trade the bottom of IBs. It is late in the day and this trade would be considered a low probability trade.

edit: thanks edwinnk-
First, My bad for that spelling mistake.

Second, Yes thats what I meant if it's defined correctly.

Thanx alot for clarification.

BK
  • #1,020
  • May 29, 2008 10:20pm May 29, 2008 10:20pm
Quoting Bemac
~~
Sorry Jarroo et al, had to say it.
Ahh yes I guess you did. I see you have quoted me before I edited an offending remark, humble apologises. Never the less ..
Good Trading
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