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The DIBS Method... No Free Lunch continues

  • #1,501
  • Jun 10, 2008 11:40pm Jun 10, 2008 11:40pm
Quoting Oksana17
Hello everybody!
I've coded an update to "Jarroo".
---
What is does(it is attached):
(1)Draws rectangular boxes for inside bars(past and present); You can set the length of the box(left-to-right), and the color of the box.
(2)It enters only on the bar that has it's previous bar made up of an inside bar(IB).
(3)It contains Lots,StopLoss,TakeProfit,and TrailingStop(value and true/false pick) all to be configurable.
(4)You can set StopNReverse true/false(if true, then only on the bar that has it's previous bar made up of an inside bar(IB)).
(5)It enters between a certain time(this is where You can make it trade during a specific time, for example, only during LondonOpen).
(6)It draws text on the top-middle screen(the current date and time); You can set the color of it.
---
I've coded it just as I understood it.
Hope You guys like it.
I must confess. I do not know how to use, operate, install (if its different then indicators), work, etc., an EA. Can someone direct me to a thread and/or tutorial.
Indicators show the past. Price Action "Indicates" the future.
  • #1,502
  • Jun 10, 2008 11:45pm Jun 10, 2008 11:45pm
Stopped out on the 2nd half from my trade last night on the Gbp/Jpy. I was able to grab 107 pips on the first half. My goal on some DIBS trades are long term positions. I'll take these all day.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,503
  • Jun 10, 2008 11:54pm Jun 10, 2008 11:54pm
Quoting jarroo
Stopped out on the 2nd half from my trade last night on the Gbp/Jpy. I was able to grab 107 pips on the first half. My goal on some DIBS trades is long term position. I'll take these all day.
So you hold both parts as long as its going well, then bank (hopefully) some good profit on the first half and risk you profits on the second, hoping for a long term trade? Excellent.
On that same trade, I held both halves and cashed them both out for 60 pips each after it reversed.
  • #1,504
  • Jun 11, 2008 12:04am Jun 11, 2008 12:04am
Quoting billflet
So you hold both parts as long as its going well, then bank (hopefully) some good profit on the first half and risk you profits on the second, hoping for a long term trade? Excellent.
On that same trade, I held both halves and cashed them both out for 60 pips each after it reversed.
The majority of the time I will take the 1st half at off at trade risk + spread, which we should all do according to the DIBS method. But if Price is running hard, like last night (also with the Cable) I'll grab more then trade risk +spread and trail my stops.

You took 60 pips out of a 140 pip move tells me you were also looking for some long term action. Nice trade bill.
Indicators show the past. Price Action "Indicates" the future.
  • #1,505
  • Jun 11, 2008 12:55am Jun 11, 2008 12:55am
Quoting jarroo
The majority of the time I will take the 1st half at off at trade risk + spread, which we should all do according to the DIBS method. But if Price is running hard, like last night (also with the Cable) I'll grab more then trade risk +spread and trail my stops.

You took 60 pips out of a 140 pip move tells me you were also looking for some long term action. Nice trade bill.
Jarroo,

Cool and Congrats. I have been watching this thread only for the last 2 days. Just going thru all the posts now to get familiar with DIBS.

Thanks to all the inputs by the boarders here... Hope to profit a lot from this system.... Yesterday I made 10 pips initially from USDJPY long using DIBS..

Do you have the chat room still active at tradingrooms or you guys all exchange the charts when you enter any trade .... ???

Thanks a lot...

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,506
  • Jun 11, 2008 12:57am Jun 11, 2008 12:57am
Quoting jarroo
I must confess. I do not know how to use, operate, install (if its different then indicators), work, etc., an EA. Can someone direct me to a thread and/or tutorial.
(1)Save it to experts folder
(2)Restart MT4
(3)Press Ctlr+O. Go to Expert Advisors tab. Check the first tab. Disable 2nd and 3rd tab. Check 4th tab
(4)Drag "Jarroo" to the chart, and drop. Check Allow Live Trading.
(5)Make sure the inputs are set correctly.
(6)Turn on the Expert Advisor
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,507
  • Jun 11, 2008 12:59am Jun 11, 2008 12:59am
Quoting Oksana17
(1)Save it to experts folder
(2)Restart MT4
(3)Press Ctlr+O. Go to Expert Advisors tab. Check the first tab. Disable 2nd and 3rd tab. Check 4th tab
(4)Drag "Jarroo" to the chart, and drop. Check Allow Live Trading.
(5)Make sure the inputs are set correctly.
(6)Turn on the Expert Advisor
Thanks for that Oksana.
Indicators show the past. Price Action "Indicates" the future.
  • #1,508
  • Jun 11, 2008 1:01am Jun 11, 2008 1:01am
Quoting rpasupathy
Jarroo,

Cool and Congrats. I have been watching this thread only for the last 2 days. Just going thru all the posts now to get familiar with DIBS.

Thanks to all the inputs by the boarders here... Hope to profit a lot from this system.... Yesterday I made 10 pips initially from USDJPY long using DIBS..

Do you have the chat room still active at tradingrooms or you guys all exchange the charts when you enter any trade .... ???

Thanks a lot...

Cheers
Thanks rpasu. We are still in the practising stages of the method and just exchange charts here.
Indicators show the past. Price Action "Indicates" the future.
  • #1,509
  • Jun 11, 2008 1:02am Jun 11, 2008 1:02am
Quoting jarroo
Thanks for that Oksana.
Your welcome
Tell me if You need anything else.
Cheers...
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,510
  • Jun 11, 2008 1:03am Jun 11, 2008 1:03am
IB formed on the gbp/usd. Let's see where the breakout takes us. My guess is up, but there's really no need for guessing here.
I dream, therefore I become.
  • #1,511
  • Jun 11, 2008 1:04am Jun 11, 2008 1:04am
Where do You guys usually keep Your stoplosses?
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,512
  • Jun 11, 2008 1:07am Jun 11, 2008 1:07am
Quoting Oksana17
Where do You guys usually keep Your stoplosses?
At or just above/below the other side of the IB.
Indicators show the past. Price Action "Indicates" the future.
  • #1,513
  • Jun 11, 2008 1:07am Jun 11, 2008 1:07am
Quoting jarroo
Thanks rpasu. We are still in the practising stages of the method and just exchange charts here.
ok Jarroo. I will also chip in and keep an eye...

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,514
  • Jun 11, 2008 1:10am Jun 11, 2008 1:10am
Quoting jarroo
At or just above/below the other side of the IB.
Do You want me to program that too?
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,515
  • Jun 11, 2008 1:15am Jun 11, 2008 1:15am
Quoting Oksana17
Hello everybody!
I've coded an update to "Jarroo".
---
What is does(it is attached):
(1)Draws rectangular boxes for inside bars(past and present); You can set the length of the box(left-to-right), and the color of the box.
(2)It enters only on the bar that has it's previous bar made up of an inside bar(IB).
(3)It contains Lots,StopLoss,TakeProfit,and TrailingStop(value and true/false pick) all to be configurable.
(4)You can set StopNReverse true/false(if true, then only on the bar that has it's previous bar made up of an inside bar(IB)).
(5)It enters between a certain time(this is where You can make it trade during a specific time, for example, only during LondonOpen).
(6)It draws text on the top-middle screen(the current date and time); You can set the color of it.
---
I've coded it just as I understood it.
Hope You guys like it.
Great job! Thanks for all the work!
  • #1,516
  • Jun 11, 2008 1:19am Jun 11, 2008 1:19am
(5)It enters between a certain time(this is where You can make it trade during a specific time, for example, only during LondonOpen).

I've coded it just as I understood it.
Hope You guys like it. [/quote]

Hello Oksana,

Thanks a lot for the EA.

I just want to trade only after London opening to close . What is that I need to give in the parameters.

Thanks a lot... Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,517
  • Jun 11, 2008 1:20am Jun 11, 2008 1:20am
Quoting Oksana17
Do You want me to program that too?
aaahh sure.
Indicators show the past. Price Action "Indicates" the future.
  • #1,518
  • Jun 11, 2008 1:28am Jun 11, 2008 1:28am
Has anyone messed around with the settings for the new EA...to back test to find what works best???
  • #1,519
  • Jun 11, 2008 1:32am Jun 11, 2008 1:32am
Quoting bogus
Hi Guys. We've had some pretty good results lately. I'm just wondering how people are managing their trades.Last session I picked up 6% total on 6 pairs. Risking 2% per trade and taking 1% off at 1:1. For the remainder Ive been setting the stop at the high of the previous bar. I'm sure this can be improved on. In the past short while Ive let them run till the Asian session before closing them out.(with the stop set to B:E, so if I get stopped I'd make 1 %).That has given me pretty mixed results.I like NowAndLaters idea of going with the trend and waiting for the A grade set ups.
So, what are you guys using for the 2nd TP target?
Thanks, Bogus
I will close half position at 1:1 and let the other half run while I move my sl along the way to places where I see support/resistance and figure if it comes back to that area and breakes it then that might be a reversal. If not I'm trying to add to my position risking some of the profit I've already locked in, but this last part where I add to my trade I'm still working on.
For instance I've moved sl on the GU to 1.9583, EU to 1.5505, UJ to 107.25. If today gives signals further in the direction of yesterdays trades then great and then I'll move my sl to the new trades stops, otherwise I will let the first trades run their course.
  • #1,520
  • Jun 11, 2008 1:35am Jun 11, 2008 1:35am
hi guys, just an observation I've realised (quite obvious now with hindsight):

When entering a trade on the 1H timeframe, take a look at the 4HR chart to see if there is any conflict. For example, yesterday, just after Open, there was a break to the downside of the USD/JPY 0700 GMT bar. It stopped out then reversed direction. However, around the same time was a great 4hr IB with price trending above the WEEK'S open, giving further weight to go long. So, perhaps it would be wise to check the higher timeframes to see what's happening before enteriong on the lower ones!
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