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The DIBS Method... No Free Lunch continues

  • #1,381
  • Jun 9, 2008 5:04am Jun 9, 2008 5:04am
..........
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  • #1,382
  • Jun 9, 2008 5:06am Jun 9, 2008 5:06am
thanks mike_w I was actually referring to that hourly IB on GBP/USD (cable) in my above post. The 4 hour ones (with 2 hours left to confirm and be valid) are on the EUR/USD and USD/CHF
  • #1,383
  • Jun 9, 2008 5:15am Jun 9, 2008 5:15am
Quoting Trumpcard
thanks mike_w I was actually referring to that hourly IB on GBP/USD (cable) in my above post. The 4 hour ones (with 2 hours left to confirm and be valid) are on the EUR/USD and USD/CHF
I was pretty sure that was what you meant, thanks for the clarification man. I actually think the eur/usd may get filled by the time the 4 hour charts close up...momentum should start to pick up here soon for it.
I dream, therefore I become.
  • #1,384
  • Jun 9, 2008 5:31am Jun 9, 2008 5:31am
so.. so far today which market is strongest? to me it seems like cable is stronger than euro along with the yen crosses (gbp and euro)
  • #1,385
  • Jun 9, 2008 5:39am Jun 9, 2008 5:39am
Quoting Trumpcard
so.. so far today which market is strongest? to me it seems like cable is stronger than euro along with the yen crosses (gbp and euro)
Well, in terms of movement, I can't tell you what will be a bigger mover for today because there are too many variables. I do know that, however, the gbp/usd usually moves a bit more than the euro. The yen crosses, especially gbp/jpy is a given to move quite a bit and be more volatile.
I dream, therefore I become.
  • #1,386
  • Jun 9, 2008 5:45am Jun 9, 2008 5:45am
so mike this goes back to a question I think I raised earlier today, how does one define the strongest market to long/weakest market to short? are we looking at relative percentage movements within the first 9-10 hours of the trading day?
  • #1,387
  • Jun 9, 2008 5:50am Jun 9, 2008 5:50am
altough the euro IB appeared 2 candles ago....but when i look at the setup.. i took it (sell) and still holding right now.

TP - 15729
SL - 15850

Demo
i ll adjust the SL n TP using fibo+pivot or length of the IB.....(but the IB is too small)

cheers everybody.

Oksana - is the ea and indi has expired date?
(just question)
  • #1,388
  • Jun 9, 2008 5:54am Jun 9, 2008 5:54am
Quoting Trumpcard
so mike this goes back to a question I think I raised earlier today, how does one define the strongest market to long/weakest market to short? are we looking at relative percentage movements within the first 9-10 hours of the trading day?
I'll post more on this in a bit when I get back on.

As for Bujal, if it closed above the day's open, why did you take it as a sell order or am I missing something important?
I dream, therefore I become.
  • #1,389
  • Jun 9, 2008 5:55am Jun 9, 2008 5:55am
bujal, the DIBS method isn't just about buying or selling any inside bar breakout. there are certain parameters which need to be met. one of which you buy as long as the breakout price is above the 0600GMT open and go short as long as price is below the 0600GMT open. On my IBFX charts, the inside bar on euro formed above the day's open indicating a buy which hasn't yet triggered.
  • #1,390
  • Jun 9, 2008 7:17am Jun 9, 2008 7:17am
are you guys using any particular order management EA to close out half your positions at 1:1 or are you doing this manually?
  • #1,391
  • Jun 9, 2008 10:34am Jun 9, 2008 10:34am
Quoting jarroo
That's what I call running.
Well it ran up alright, just enough for me to caputure my trade risk +20 pips more before stopping me out. I didn't stop and reverse. (again) I wish I did.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,392
  • Jun 9, 2008 11:51am Jun 9, 2008 11:51am
Quoting bujal38
altough the euro IB appeared 2 candles ago....but when i look at the setup.. i took it (sell) and still holding right now.

TP - 15729
SL - 15850

Demo
i ll adjust the SL n TP using fibo+pivot or length of the IB.....(but the IB is too small)

cheers everybody.

Oksana - is the ea and indi has expired date?
(just question)
No, why would I do that?
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,393
  • Jun 9, 2008 1:32pm Jun 9, 2008 1:32pm
Just subscribing.

Thanks,
C
Quoting Oksana17
..........
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  • #1,394
  • Jun 9, 2008 2:08pm Jun 9, 2008 2:08pm
Quoting jarroo
Well it ran up alright, just enough for me to caputure my trade risk +20 pips more before stopping me out. I didn't stop and reverse. (again) I wish I did.
I did the same thing Jim, I made the mistake of getting frustrated of the movement and didn't jump back in. The loss wasn't that bad as I took some off the table at 1.5825. The usd/jpy was a loss for me as I was weary of it's movement anyways.

I think I may have noticed a solid filter for this last night as well. Check out the euro daily and plot out the 5 sma on it. You'll see how price moved straight to it on the higher timeframe. I will test and somehow incorporate that to my trading. It takes time to understand the use of the 5 sma however and for most, this system is rather straight forward as is and doesn't need it. I'll take note of any days in my journal that it would work out that way and days that it wouldn't.
I dream, therefore I become.
  • #1,395
  • Jun 9, 2008 2:51pm Jun 9, 2008 2:51pm
Hello Fellows...

Been out all day... no trades today for me...

Looking at the charts I see that we had 2 good setups, on EUR/USD and USD/CHF, but on 4H TF, considering the Week's Open price... Does anybody caught them?

On 1H I'm looking now... seems like the EUR gave a good setup too...

Well, we are at the last NY hours, so I'm not looking for a trade right now...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #1,396
  • Jun 10, 2008 12:03am Jun 10, 2008 12:03am
0400 IB off the 0500 open on the Gbp/Jpy. (my charts are GMT -1)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,397
  • Jun 10, 2008 12:07am Jun 10, 2008 12:07am
Quoting jarroo
0400 IB off the 0500 open on the Gbp/Jpy. (my charts are GMT -1)
I took the same IB let's see how the trade goes...
  • #1,398
  • Jun 10, 2008 12:10am Jun 10, 2008 12:10am
Quoting RRothschild
I took the same IB let's see how the trade goes...
Short now at 209.97. Trade risk is 24 pips.
Indicators show the past. Price Action "Indicates" the future.
  • #1,399
  • Jun 10, 2008 12:13am Jun 10, 2008 12:13am
Quoting mike w
Well, in terms of movement, I can't tell you what will be a bigger mover for today because there are too many variables. I do know that, however, the gbp/usd usually moves a bit more than the euro. The yen crosses, especially gbp/jpy is a given to move quite a bit and be more volatile.
Hey Mike, thanks to you I've been skimming Crabel's book today.

And to all who are asking, hope this helps:

I look at the present trading day (the session we're trading) first, then the previous days. GBP/ USD is right where it was twenty four hours ago and so is EUR/JPY (for those of us brave souls who trade it) or at least it was when I started typing.. And they haven't moved as much as they normally do. But I like to assume things will continue as they are and trade them that way. If something happens to convince me otherwise, I'll change my plan. A quick look at yesterday's price line tells us if price is moving or if it's in a range.
Of course there is no way to know which way or how much something will move, but without a lot of analysis , looking at how far price has moved from opening of our session yesterday to opening today should have some value, and then when our session opens watch what's moving most. If you see an IB and price doesn't break it convincingly, it might be weaker than one that price breaks quickly and with vigor. We need the IB to be on the right side of our price line and I watch the pair that's moving away from it the furthest and fastest. There's a lot of variables that have to be computed on the spot depending on which pairs we're comparing and how they are moving--spread, size of candle, etc. This and stops are two of the more discretionary subjects that we have to develop our own feel for.

Anyone using TadeStation? They have an IB indicator that identifies all IBs
  • #1,400
  • Jun 10, 2008 12:14am Jun 10, 2008 12:14am
Quoting jarroo
Short now at 209.97. Trade risk is 24 pips.
Here's my chart. I'm short at 210.01. Trade risk is also 24 pips
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_ib_100608.jpg Size: 74 KB
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