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The DIBS Method... No Free Lunch continues

  • #1,681
  • Jun 12, 2008 7:37am Jun 12, 2008 7:37am
Hello everybody, I’m trying to trade with this system.

I usually put the stop on the opposite side of the inside bar.

My doubt is about the take profit.
I’m trying only with 0.1 lots so I can’t use the strategy to exit with half position at breakeven and then give to the other half the possibility to run.

Which could be the bast take profit?
Thank you!
  • #1,682
  • Jun 12, 2008 7:42am Jun 12, 2008 7:42am
Quoting aud
I think a "chat site" at Trading Rooms has been set up already.
Trading Rooms>Community Trading Rooms>DIBS
It's a bit quiet at the moment.
Thanks I'll take a look. A trading room needs to be structured and disciplined and I would only be interested in working within that framework. If a chat has been set up without success then perhaps there is no demand (and we all know about supply and demand, or at least we should) I'll keep the thread open and see what develops. In the meantime i will check out the chat room. thanks again.
  • #1,683
  • Jun 12, 2008 7:44am Jun 12, 2008 7:44am
Quoting Alberto_Jazz
Hello everybody, I’m trying to trade with this system.

I usually put the stop on the opposite side of the inside bar.

My doubt is about the take profit.
I’m trying only with 0.1 lots so I can’t use the strategy to exit with half position at breakeven and then give to the other half the possibility to run.

Which could be the bast take profit?
Thank you!
If you change to a broker that offers microlots (0.01) then that shouldn't be a problem. You should really trade with a set of %-age fixed - not lots fixed. This means that the stoploss determines the lotsize depending on how many % you are risking.
  • #1,684
  • Jun 12, 2008 7:54am Jun 12, 2008 7:54am
GAAAAAAAAHHHHHHHHH!!!!! Lehman, you worthless bunch of #$*#$%&^&#$s!!!!
  • #1,685
  • Jun 12, 2008 7:58am Jun 12, 2008 7:58am
Quoting Archiphage
GAAAAAAAAHHHHHHHHH!!!!! Lehman, you worthless bunch of #$*#$%&^&#$s!!!!
I take it your following on Bloomberg (or whatever) as well...
I hope you didnt have shares there?! Don't think so...
  • #1,686
  • Jun 12, 2008 7:58am Jun 12, 2008 7:58am
because there is USD retail sail news
  • #1,687
  • Jun 12, 2008 8:03am Jun 12, 2008 8:03am
Quoting NowAndLater
I take it your following on Bloomberg (or whatever) as well...
I hope you didnt have shares there?! Don't think so...
No... anyone who owns financials in this environment needs their head examined. The announcement gave the dollar shorts an excuse to knock me out of that nicely profitable USD/JPY long... I still cashed in huge, but not as huge as it was a few minutes ago. Oh well.... back to the watching and waiting. (Still lovin' this game!)
  • #1,688
  • Jun 12, 2008 8:12am Jun 12, 2008 8:12am
Quoting Archiphage
No... anyone who owns financials in this environment needs their head examined. The announcement gave the dollar shorts an excuse to knock me out of that nicely profitable USD/JPY long... I still cashed in huge, but not as huge as it was a few minutes ago. Oh well.... back to the watching and waiting. (Still lovin' this game!)
I like that statement (the first part of it)... I didnt think you did either!
I closed one of my two trades in UJ at the monthly r2 at 107.95 and have kept my other with the sl at 107.41. This one will ride and ride.
The reason I closed on of them is because the other majors are close to critical prices (especially GU and EU) and there might be a technical correction coming because of this and that will not be in the favour ofthe USD. I've move the sl on GU to 1.9505.
  • #1,689
  • Jun 12, 2008 8:31am Jun 12, 2008 8:31am
Consolidation across the board, the news was mixed and didnt give any direction. I'm out for the day and again a nice day, hopefully I wont be taken out with my remaining trades. See you guys tomorrow.
Cheers
  • #1,690
  • Jun 12, 2008 8:38am Jun 12, 2008 8:38am
Quoting NowAndLater
I like that statement (the first part of it)... I didnt think you did either!
I closed one of my two trades in UJ at the monthly r2 at 107.95 and have kept my other with the sl at 107.41. This one will ride and ride.
The reason I closed on of them is because the other majors are close to critical prices (especially GU and EU) and there might be a technical correction coming because of this and that will not be in the favour ofthe USD. I've move the sl on GU to 1.9505.
Yeah, I'm looking at critical levels too. I'm short EUR from 1.5455 with 1/2 the risk locked in as profit. There's plenty of support in the mid 1.53s, so I'm just going to sit here and see if we get a nice breakdown. Cable has gone so far I don't want any until there's a retrace. In fact, seeing how all the pairs are looking, I think I'm done placing new trades for the day.
  • #1,691
  • Jun 12, 2008 9:23am Jun 12, 2008 9:23am
Quoting NowAndLater
You and your impatient patients
Man, you simply can't imagine how impatient my patients are...

http://www.cartoonstock.com/newscart...s/tzun265l.jpg

Many share my views with me. But I don't share them with them...
  • #1,692
  • Jun 12, 2008 9:46am Jun 12, 2008 9:46am
Hi Oskana, I'm testing your expert and I have another doubt.
As you can see from the attached image, the expert has open a sell order on with USDCHF when the price was over the opening price. I seem this is not correct... may be I have to settle the expert properties? Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 19 KB
  • #1,693
  • Jun 12, 2008 11:04am Jun 12, 2008 11:04am
Quoting aud
I think a "chat site" at Trading Rooms has been set up already.
Trading Rooms>Community Trading Rooms>DIBS
It's a bit quiet at the moment.
pls post the link

thanks
  • #1,694
  • Jun 12, 2008 11:50am Jun 12, 2008 11:50am
Quoting Alberto_Jazz
Hi Oskana, I have some questions about your EA.

1.I see that the order is placed only on the next bar, after the inside bar. Is it the original approach (from Jarroo)? Is there the possibility to place the order for a certain number of bars? For instance, for all the day, in order to use the high of the inside bar as a resistance?

2.If a trade is opened, what’s happen during the same bar, for instance:
a)the price retrace under the entry level
b)then the price DON’T take the stop loss
c)then the price break another time the entry level.
I’d like the expert could have the possibility to open the trade only if the previous trade opened on that bar was stopped out, otherwise I would obtain 2 positions.

3.Is there the possibility to consider as open bar the London open time (like daily_open_line indicator in this topic).

I hope this make sense. Sorry for my bad English...
Thank you very much!
Ask Jarroo, if he thinks it is a good idea, I'll code it, as he did test the method. I just don't have the time to test it. But right now, I think that if it doesn't break it right away, then it will just say that the IB is not strong. What happens inbetween a bar, is this. If it goes above the IB, it buys, and if the market goes below the IB, it exits the buy, and sells, and if the market went above the IB after a sell, it just exits it, and buys, and so on, but I don't think it will go more than 2 times up and down.
Oksana17.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,695
  • Jun 12, 2008 11:52am Jun 12, 2008 11:52am
Quoting Alberto_Jazz
Hi Oskana, I'm testing your expert and I have another doubt.
As you can see from the attached image, the expert has open a sell order on with USDCHF when the price was over the opening price. I seem this is not correct... may be I have to settle the expert properties? Thank you.
It's called slippage. If it is below the IB, then the market goes up quickly, then it sells above.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,696
  • Jun 12, 2008 12:30pm Jun 12, 2008 12:30pm
Quoting Oksana17
It's called slippage. If it is below the IB, then the market goes up quickly, then it sells above.
That's the effect of the spread, it isn't slippage.
Slippage is when you can't get filled at the requested price and have to accept a worse price.
I've never seen that in forex with pending orders. You see it all the time in futures.
  • #1,697
  • Jun 12, 2008 1:21pm Jun 12, 2008 1:21pm
Quoting Oksana17
It's called slippage. If it is below the IB, then the market goes up quickly, then it sells above.
Sorry but I don't agree.
In the attached graph I don't see the price below the open of the day. So why the system opened a sell trade?
  • #1,698
  • Jun 12, 2008 6:42pm Jun 12, 2008 6:42pm
Quoting Alberto_Jazz
Hi Oskana, I have some questions about your EA.

1.I see that the order is placed only on the next bar, after the inside bar. Is it the original approach (from Jarroo)? Is there the possibility to place the order for a certain number of bars? For instance, for all the day, in order to use the high of the inside bar as a resistance?

2.If a trade is opened, what’s happen during the same bar, for instance:
a)the price retrace under the entry level
b)then the price DON’T take the stop loss
c)then the price break another time the entry level.
I’d like the expert could have the possibility to open the trade only if the previous trade opened on that bar was stopped out, otherwise I would obtain 2 positions.

3.Is there the possibility to consider as open bar the London open time (like daily_open_line indicator in this topic).

I hope this make sense. Sorry for my bad English...
Thank you very much!
Remember what we are looking for when we have an IB break of a vaild DIBS trade. We want to see Price break strong, "robust', with vigor, etc. If Price breaks hard and then retraces back and lingers slowly, this it not a good thing.

I admit taking DIBS trades that break the IB slowly and then takes off, but more often then not, these will also stop me out. The ones that break hard/ fast and never look back are obviously the best.

With that being said, I'm looking at a possibility of placing entries 4 to 6 pips above/below the IB. This may be a good quailifier to confirm the strength of the movement of Price. Depending on the currency pair this "buffer" would differ slightly i.e., 4 to 6 pips with the Euro and maybe 6 or 7 pips with the Cable.


Peter: "the best trades for us are the ones that don't give you ANY retracement after the breakout".

Just some thoughts.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,699
  • Jun 12, 2008 7:12pm Jun 12, 2008 7:12pm
Quoting jarroo
Remember what we are looking for when we have an IB break of a vaild DIBS trade. We want to see Price break strong, "robust', with vigor, etc. If Price breaks hard and then retraces back and lingers slowly, this it not a good thing.

I admit taking DIBS trades that break the IB slowly and then takes off, but more often then not, these will also stop me out. The ones that break hard/ fast and never look back are obviously the best.

With that being said, I'm looking at a possibility of placing entries 4 to 6 pips above/below the IB. This may be a good quailifier to confirm the strength of the movement of Price. Depending on the currency pair this "buffer" would differ slightly i.e., 4 to 6 pips with the Euro and maybe 6 or 7 pips with the Cable.


Peter: "the best trades for us are the ones that don't give you ANY retracement after the breakout".

Just some thoughts.

Jim
exactly!!
All this time when you'v talked about hard breaks, i'v always thought that it was imposible to know it was a hard and solid break unless you gave it some room first, meaning you wouldn't enter the trade after the first pip break in the IB.
this way you minimize the risk of entering a bad trade.
  • #1,700
  • Jun 12, 2008 7:24pm Jun 12, 2008 7:24pm
Quoting judith
exactly!!
All this time when you'v talked about hard breaks, i'v always thought that it was imposible to know it was a hard and solid break unless you gave it some room first, meaning you wouldn't enter the trade after the first pip break in the IB.
this way you minimize the risk of entering a bad trade.
LOL. This is very true. I guess I wanted to stop saying, when I mention my entries "I entered late at . . . My entry was late at" .

Sometimes we'll be waiting for an already formed IB to break and Price will be just sitting there. Then all of a suddden, Price starts running hard to the bottom (ex. for a short) before even breaking it and you know Price is going to break hard. So I'll enter right at the IB level.

This is why we practise.

Jim
Indicators show the past. Price Action "Indicates" the future.
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