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The DIBS Method... No Free Lunch continues

  • #1,301
  • Jun 8, 2008 8:27pm Jun 8, 2008 8:27pm
Quoting macgyver
This method is nothing new or revolutionary it was posted here before I believe it was 05 maybe earlier but I guess it has been forgotten... I dont know the name of it nor the one who posted it but I do recall reading the same set-up
If you can find that info, that would be great.
Indicators show the past. Price Action "Indicates" the future.
  • #1,302
  • Jun 8, 2008 9:18pm Jun 8, 2008 9:18pm
Quoting macgyver
This method is nothing new or revolutionary it was posted here before I believe it was 05 maybe earlier but I guess it has been forgotten... I dont know the name of it nor the one who posted it but I do recall reading the same set-up
No it's not new or revolutionary--it's the opposite: old, solid and proven to work over many years. A lot of the new and revolutionary systems = liquidity for the old and proven methods. But it would be cool if we could find the old posts on it.
  • #1,303
  • Jun 8, 2008 9:20pm Jun 8, 2008 9:20pm
sorry I feel like I just wasted your/mine time even mentioning it... I cant find the post but I swear I saw it... as Peter mentioned that he learned it at the beginning of his career which was quite a while ago and since then the strategy has been around but that does not been it no longer provides the same great signals.
  • #1,304
  • Jun 8, 2008 9:24pm Jun 8, 2008 9:24pm
Quoting macgyver
sorry I feel like I just wasted your/mine time even mentioning it... I cant find the post but I swear I saw it... as Peter mentioned that he learned it at the beginning of his career which was quite a while ago and since then the strategy has been around but that does not been it no longer provides the same great signals.
Understandable. It would be an interesting read, be it from 2004 or 1984.
Indicators show the past. Price Action "Indicates" the future.
  • #1,305
  • Jun 8, 2008 9:28pm Jun 8, 2008 9:28pm
Quoting macgyver
sorry I feel like I just wasted your/mine time even mentioning it... I cant find the post but I swear I saw it... as Peter mentioned that he learned it at the beginning of his career which was quite a while ago and since then the strategy has been around but that does not been it no longer provides the same great signals.
Nope, don't feel like you wasted our time. Knowing others have seen it before and that it's not new lends credibility. A lot of us were fortunate that Peter explained it so clearly.
Probably some similar stuff in Toby Crabel's book, if anyone is willing to buck up $500 for a used copy on Amazon.
  • #1,306
  • Jun 8, 2008 9:55pm Jun 8, 2008 9:55pm
Good Evening ladies and gents!

I don't know if your trading on sundays, but at the moment we will be seeing an IB on the eur/usd for the opening day's price. The bar is an all of 4 pips deep so there will be virtually no risk in taking a trade on it IF we trade this on monday mornings, which I see no reason not to.
I dream, therefore I become.
  • #1,307
  • Jun 8, 2008 9:57pm Jun 8, 2008 9:57pm
Quoting mike w
Good Evening ladies and gents!

I don't know if your trading on sundays, but at the moment we will be seeing an IB on the eur/usd for the opening day's price. The bar is an all of 4 pips deep so there will be virtually no risk in taking a trade on it IF we trade this on monday mornings, which I see no reason not to.
Same with Usd/Jpy (0400 GMT IB)
Indicators show the past. Price Action "Indicates" the future.
  • #1,308
  • Jun 8, 2008 10:00pm Jun 8, 2008 10:00pm
Quoting jarroo
Same with Usd/Jpy (0400 GMT IB)
Excellent! Are you planning on trading these Jim? I'm already in a trade on the euro with my stop at +1 up at 1.5791 on the euro. I plan on moving it down for the IB if we get a break of it.

EDIT- Just got the break at 1.5777. Stop loss will be at 1.5788. 11 pips total risk if I hadn't already been in.
I dream, therefore I become.
  • #1,309
  • Jun 8, 2008 10:01pm Jun 8, 2008 10:01pm
http://cgi.ebay.com/Day-Trading-With...2em118Q2el1247


Quoting billflet
Nope, don't feel like you wasted our time. Knowing others have seen it before and that it's not new lends credibility. A lot of us were fortunate that Peter explained it so clearly.
Probably some similar stuff in Toby Crabel's book, if anyone is willing to buck up $500 for a used copy on Amazon.
It's All About Attitude ...
  • #1,310
  • Jun 8, 2008 10:01pm Jun 8, 2008 10:01pm
Quoting mike w
Excellent! Are you planning on trading these Jim? I'm already in a trade on the euro with my stop at +1 up at 1.5791 on the euro. I plan on moving it down for the IB if we get a break of it.

Hell ya. What's the trade risk on these? 10-12 pips. lol
Indicators show the past. Price Action "Indicates" the future.
  • #1,311
  • Jun 8, 2008 10:02pm Jun 8, 2008 10:02pm
Quoting Billser
http://cgi.ebay.com/Day-Trading-With...2em118Q2el1247

Indicators show the past. Price Action "Indicates" the future.
  • #1,312
  • Jun 8, 2008 10:02pm Jun 8, 2008 10:02pm
Quoting jarroo
Hell ya. What's the trade risk on these? 10-12 pips. lol
So true. It's nice to find a trade where it would be dumb NOT to take it. I love it.
I dream, therefore I become.
  • #1,313
  • Jun 8, 2008 10:03pm Jun 8, 2008 10:03pm
Quoting mike w
So true. It's nice to find a trade where it would be dumb NOT to take it. I love it.
I'll even do a couple of "stop and reverse" on these.
Indicators show the past. Price Action "Indicates" the future.
  • #1,314
  • Jun 8, 2008 10:04pm Jun 8, 2008 10:04pm
Quoting Billser
http://cgi.ebay.com/Day-Trading-With...2em118Q2el1247
Funny thing is that I'm sure you could find that on 4shared.com for free or some other file sharing site like that (This was not a promotion, just a free file sharing site that is known to have trading ebooks taht could come of use to traders.). Hell, I downloaded a couple today actually.
I dream, therefore I become.
  • #1,315
  • Jun 8, 2008 10:06pm Jun 8, 2008 10:06pm
Usd/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,316
  • Jun 8, 2008 10:06pm Jun 8, 2008 10:06pm
Quoting jarroo
I'll even do a couple of "stop and reverse" on these.
Definitely, it looks like the euro is already starting to fall now which is excellent for my shorts. Usd/Jpy is still creeping along though- not much momentum it seems which is why I think the euro is the better place to place the money right now anyways.
I dream, therefore I become.
  • #1,317
  • Jun 8, 2008 10:08pm Jun 8, 2008 10:08pm
Quoting mike w
Definitely, it looks like the euro is already starting to fall now which is excellent for my shorts. Usd/Jpy is still creeping along though- not much momentum it seems which is why I think the euro is the better place to place the money right now anyways.
I'm short the Euro. Trade risk 15 pips.
Indicators show the past. Price Action "Indicates" the future.
  • #1,318
  • Jun 8, 2008 10:09pm Jun 8, 2008 10:09pm
Quoting jarroo
I'm short the Euro. Trade risk 15 pips.
Euro.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,319
  • Jun 8, 2008 10:09pm Jun 8, 2008 10:09pm
Quoting jarroo
I'm short the Euro. Trade risk 15 pips.
Nice! I'm not sure if you trade it with this method much, but the aussie closed as an IB as well. Do you trade other pairs or just the majors like Peter did so I can know not to bring up others to waste time.
I dream, therefore I become.
  • #1,320
  • Jun 8, 2008 10:11pm Jun 8, 2008 10:11pm
now what will I do with my saved $3995

Quoting mike w
Funny thing is that I'm sure you could find that on 4shared.com for free or some other file sharing site like that (This was not a promotion, just a free file sharing site that is known to have trading ebooks taht could come of use to traders.). Hell, I downloaded a couple today actually.
It's All About Attitude ...
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