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The DIBS Method... No Free Lunch continues

  • #1,641
  • Jun 12, 2008 4:25am Jun 12, 2008 4:25am
Quoting Oksana17
You trading live?
i m trading this live (but take the IB as a confirmation) only lah....

hehe..my friend trade this on 30m, 6 trade today - 5 win, 1 loss
dont ask me how he do it.

GY still in play...duhhh...feel it pains....not hit SL, not hit TP...but play in -ve side....if in +ve side...i would rather kill it immediately
  • #1,642
  • Jun 12, 2008 4:26am Jun 12, 2008 4:26am
Quoting rpasupathy
What about the USDJPY chart now.... Can you infer anything ?

Cheers

Yes, that is a valid entry long.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,643
  • Jun 12, 2008 4:31am Jun 12, 2008 4:31am
Quoting jarroo
Looks good. I would just use the first IB bottom because it was a bit bigger. The IB you used was valid, but there was other IBs to consider.

Keeping practising my bother.
Ok thank you so much for the explanation.......

Yeah ...need to Practise a lot ....... Just 2 days old in this thread .......

How about USDJPY now ... It looks to go up ???

What will be your entry price and stoploss ?

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,644
  • Jun 12, 2008 4:33am Jun 12, 2008 4:33am
Quoting rpasupathy
Ok thank you so much for the explanation.......

Yeah ...need to Practise a lot ....... Just 2 days old in this thread .......

How about USDJPY now ... It looks to go up ???

What will be your entry price and stoploss ?

Cheers
I'll let you tell me the answer to that. More study my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #1,645
  • Jun 12, 2008 4:35am Jun 12, 2008 4:35am
Quoting jarroo
Yes, that is a valid entry long.
Wow ... That's what I wanted to know ...

So it was a long above 107.53 ......

Thanks a lot for your help ....

what will be the stops here ??

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,646
  • Jun 12, 2008 4:35am Jun 12, 2008 4:35am
Quoting rpasupathy
Ok thank you so much for the explanation.......

Yeah ...need to Practise a lot ....... Just 2 days old in this thread .......

How about USDJPY now ... It looks to go up ???

What will be your entry price and stoploss ?

Cheers
I'm in it, entered at 107.58 (buystop) with sl at 107.41
17 pip risk, i'll close 2/3 at 9 pip profit at 107.67
  • #1,647
  • Jun 12, 2008 4:38am Jun 12, 2008 4:38am
Quoting jarroo
I'll let you tell me the answer to that. More study my friend.
Yes ....

Long at 107.55 with stops @ 107.41 bcoz it is the low of that candle ...

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,648
  • Jun 12, 2008 4:40am Jun 12, 2008 4:40am
Quoting NowAndLater
I'm in it, entered at 107.58 (buystop) with sl at 107.41
17 pip risk, i'll close 2/3 at 9 pip profit at 107.67
hmm ..........cool
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #1,649
  • Jun 12, 2008 4:43am Jun 12, 2008 4:43am
Quoting jarroo
I'll let you tell me the answer to that. More study my friend.
One question Jarroo if you have more experience in this:
Now I've added to my position in the UJ with the latest IB. Do you think it's correct to move the the firts trade's SL to the new IB? First time I've added...
  • #1,650
  • Jun 12, 2008 4:47am Jun 12, 2008 4:47am
hang, on technically speaking there weren't actually any IBs. This is a different setup - a break of a 3bar high.... all bar's had the same high but higher lows.

Quoting jarroo
Yes, that is a valid entry long.
  • #1,651
  • Jun 12, 2008 4:53am Jun 12, 2008 4:53am
Quoting NowAndLater
One question Jarroo if you have more experience in this:
Now I've added to my position in the UJ with the latest IB. Do you think it's correct to move the the firts trade's SL to the new IB? First time I've added...
It just depends on your own discretion. I'm in both the longs too, and I'm going to move my stop on the 1st part to the 1st entry price when that position is up to 2x the pips I risked just like I do with any other trade unless I see a reason not to do so. (only a few more ticks!) Anyway, I'll eventually merge the stops once the position goes farther in my favor. There isn't a 'correct' way to do it.
  • #1,652
  • Jun 12, 2008 4:54am Jun 12, 2008 4:54am
Quoting NowAndLater
I'm in it, entered at 107.58 (buystop) with sl at 107.41
17 pip risk, i'll close 2/3 at 9 pip profit at 107.67
Home sweet home, or should I say it's going going going... I've moved my sl on the first trade to the new one... Me like me like

Gotta love this as well: Oil and gold dropping
  • #1,653
  • Jun 12, 2008 4:56am Jun 12, 2008 4:56am
Quoting Archiphage
It just depends on your own discretion. I'm in both the longs too, and I'm going to move my stop on the 1st part to the 1st entry price when that position is up to 2x the pips I risked just like I do with any other trade unless I see a reason not to do so. (only a few more ticks!) Anyway, I'll eventually merge the stops once the position goes farther in my favor. There isn't a 'correct' way to do it.
Thanks for answer Archiphage
  • #1,654
  • Jun 12, 2008 5:09am Jun 12, 2008 5:09am
Quoting Archiphage
It just depends on your own discretion. I'm in both the longs too, and I'm going to move my stop on the 1st part to the 1st entry price when that position is up to 2x the pips I risked just like I do with any other trade unless I see a reason not to do so. (only a few more ticks!) Anyway, I'll eventually merge the stops once the position goes farther in my favor. There isn't a 'correct' way to do it.
Well said Arch.

Peter however mentioned that he trades them as individual trades that stand on their own.
Indicators show the past. Price Action "Indicates" the future.
  • #1,655
  • Jun 12, 2008 5:13am Jun 12, 2008 5:13am
Quoting NowAndLater
One question Jarroo if you have more experience in this:
Now I've added to my position in the UJ with the latest IB. Do you think it's correct to move the the firts trade's SL to the new IB? First time I've added...
It's what you want out of the trades. Are you looking short term to capture and lock in some profits. Or do you see this as a long term trade and allow for some breathing room. or trade each one as an individual trade.
Indicators show the past. Price Action "Indicates" the future.
  • #1,656
  • Jun 12, 2008 5:13am Jun 12, 2008 5:13am
Quoting jarroo
Well said Arch.

Peter however mentioned that he trades them as individual trades that stand on their own.
Yes but he manages them as well so I guess at some point they may merge into one sl, especially when they have moved a quite a bit don't you think? Maybe I moved the first sl to early but I have a rule: once the sl is placed it can only be moved in the direction of the profit never to the other side. So now I can't move it back! Haha...
  • #1,657
  • Jun 12, 2008 5:14am Jun 12, 2008 5:14am
Quoting Trumpcard
hang, on technically speaking there weren't actually any IBs. This is a different setup - a break of a 3bar high.... all bar's had the same high but higher lows.
Not sure what your saying my friend, got a chart?
Indicators show the past. Price Action "Indicates" the future.
  • #1,658
  • Jun 12, 2008 5:16am Jun 12, 2008 5:16am
Quoting jarroo
My entry was late at 1.9568 so my trade risk + spread is 21pips
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,659
  • Jun 12, 2008 5:18am Jun 12, 2008 5:18am
Quoting NowAndLater
Yes but he manages them as well so I guess at some point they may merge into one sl, especially when they have moved a quite a bit don't you think? Maybe I moved the first sl to early but I have a rule: once the sl is placed it can only be moved in the direction of the profit never to the other side. So now I can't move it back! Haha...
I manage every trade as its own until it becomes silly. If you're up 150pips, it doesn't make much sense to be trailing 2 stops that are only 10 pips apart.
  • #1,660
  • Jun 12, 2008 5:20am Jun 12, 2008 5:20am
Quoting jarroo
I'm green with envy. I'm not sure why I wasn't watching Cable a little closer this week. It's getting awful close to that important long-term support line again.
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