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  • #1,721
  • Jun 13, 2008 2:54am Jun 13, 2008 2:54am
Quoting attictrader
Further to xrunner's questions, I would also seek clarification of the rules of this approach with particular reference to deciding an UP day or a Down day.
Living in the UK also, I start looking at charts at 6.00BST (5.00GMT).....what I am not sure about is this.......is the 5.00GMT candle the OPEN candle? If so, is it an UP day if the open of this candle is higher than the close of the previous 23.00/24.00 GMT candle.
Greatly appreciated if someone can provide clarity here.

hope somebody can clear this up. I am in western US and also start looking at 5 gmt and use this as the first bar looking for a dib. So at 6 gmt is the first bar to trade off of if there is a break of the high or low. The indicators provided earlier are what i use.
Trade what you see, not what you think.
  • #1,722
  • Jun 13, 2008 2:57am Jun 13, 2008 2:57am
Quoting attictrader
Further to xrunner's questions, I would also seek clarification of the rules of this approach with particular reference to deciding an UP day or a Down day.
Living in the UK also, I start looking at charts at 6.00BST (5.00GMT).....what I am not sure about is this.......is the 5.00GMT candle the OPEN candle? If so, is it an UP day if the open of this candle is higher than the close of the previous 23.00/24.00 GMT candle.
Greatly appreciated if someone can provide clarity here.
Im in UK as well and I also look at 6.00BST and it's the open of the candle. So buy if price is above what price were at 6.00BST (5.00GMT) and vice versa.
  • #1,723
  • Jun 13, 2008 2:57am Jun 13, 2008 2:57am
Which broker are you using?
Steve
Quoting billbss
No. You just won't get filled at all, unless you have set your "maximum deviation from quoted price" to 10. I have mine set at 0. There is no slippage, in forex, unless you want slippage.

My broker also honors stops. If I have a SL set at 50, and price gaps down to 20, like on a Sunday evening, I'm still out at 50.
  • #1,724
  • Jun 13, 2008 2:58am Jun 13, 2008 2:58am
Hello
  • #1,725
  • Jun 13, 2008 2:59am Jun 13, 2008 2:59am
Quoting xrunner
Here is the chart I was referring to on my previous post.

Can I please confirm to make sure I got all the rules compeltely right, there are two buys according to the indicators on this chart and one sell, or am I missing something please?


thanks very much
xrunner
You should you the 8 o'clock bar on that broker.
  • #1,726
  • Jun 13, 2008 3:01am Jun 13, 2008 3:01am
Quoting xrunner
Here is the chart I was referring to on my previous post.

Can I please confirm to make sure I got all the rules compeltely right, there are two buys according to the indicators on this chart and one sell, or am I missing something please?


thanks very much
xrunner

no problem
there are two buy lines and one sell, with only the sell being active
Trade what you see, not what you think.
  • #1,727
  • Edited 5:10am Jun 13, 2008 3:02am | Edited 5:10am
Heres my chart and what I use. Compare your candles with it and you'll have the daily open.
Attached Image (click to enlarge)
Click to Enlarge Name: open time.JPG Size: 88 KB
  • #1,728
  • Jun 13, 2008 3:02am Jun 13, 2008 3:02am
Quoting xrunner
Here is the chart I was referring to on my previous post.

Can I please confirm to make sure I got all the rules compeltely right, there are two buys according to the indicators on this chart and one sell, or am I missing something please?


thanks very much
xrunner
It should have been only a sell DIBS trade. My broke is GMT-1. 0500 GMT is 0100 EST.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,729
  • Jun 13, 2008 3:03am Jun 13, 2008 3:03am
Hello just wandering if anyone has the same problem with the DIBS_Trigger lines 1.1 indicator. mine does not show up automaticly at the time i set. each day i have to go to "indicater properties- go to the Dibs indicater - press edit and close it with out editing anything" this seems to reset it because only then the session start line apears. its driving me mad doing this to 10 pairs every day.
  • #1,730
  • Jun 13, 2008 3:03am Jun 13, 2008 3:03am
my 2 cents is that unless there is huge volatility around the open,using 5 GMT or ^GMT isn't going to make much of a difference at the end of the day.

Anyone take the EURO 4hr breakout south? I'd be wary of selling it right now unless for small gains due to heaps of support lying underneath
  • #1,731
  • Jun 13, 2008 3:05am Jun 13, 2008 3:05am
Quoting Macedonia
Hello just wandering if anyone has the same problem with the DIBS_Trigger lines 1.1 indicator. mine does not show up automaticly at the time i set. each day i have to go to "indicater properties- go to the Dibs indicater - press edit and close it with out editing anything" this seems to reset it because only then the session start line apears. its driving me mad doing this to 10 pairs every day.

yes, i also have to refresh by going to a higher time frame and then back to the one hour.
Trade what you see, not what you think.
  • #1,732
  • Jun 13, 2008 3:05am Jun 13, 2008 3:05am
I
Quote
m in UK as well and I also look at 6.00BST and it's the open of the candle. So buy if price is above what price were at 6.00BST (5.00GMT) and vice versa.
NAL,

thanks....this helps.
  • #1,733
  • Jun 13, 2008 3:17am Jun 13, 2008 3:17am
Hi all,
Having a great time reading from start to finish, what an interesting and clever guy that Peter is!!
His simple filter is absolutely amazing, like he said if I think about it and all my trades only taking longs above daily open and shorts below close would have saved me many many losses(whats that saying about bottom pickers again?). I think that this filter would improve the r:r on a lot of other PA setups as well, (anyone tried that?) but its nice to focus on one simple setup. This is really up my alley, finally something with small stops, and unlimited potential gains. Excellent work Jarroo! PS shorted cable with a 9 pip stop, you just gotta love it!(even if I get stopped!) Raz
Never say never.
  • #1,734
  • Jun 13, 2008 3:22am Jun 13, 2008 3:22am
Quoting Trumpcard
my 2 cents is that unless there is huge volatility around the open,using 5 GMT or ^GMT isn't going to make much of a difference at the end of the day.

Anyone take the EURO 4hr breakout south? I'd be wary of selling it right now unless for small gains due to heaps of support lying underneath
As you said there's heavy support on GU and EU and resistance on UCHF and UJ. I'm not in any trade today, still in trades in GU and UJ from yesterday. The only DIBS so far today with reasonable risk:reward ratio for me was the USDCHF. It's above the daily pivot point and it broke above the dailyopen (the dailyopen bar was the IB) and the break was above the montly pivot point as well so everything is perfect in my eyes. There's a trendline which can be seen better on the daily timeframe and that gives a target and it's where the daily r1 as well with yesterdays high at 1.0489. As I see it the potential R:R for the IB up to the trendline and daily r1 is about 1:3 which is good enough.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UCHF D1.JPG Size: 117 KB
Click to Enlarge Name: UCHF H1.JPG Size: 135 KB
  • #1,735
  • Jun 13, 2008 3:45am Jun 13, 2008 3:45am
Quoting jarroo
It should have been only a sell DIBS trade. My broke is GMT-1. 0500 GMT is 0100 EST.
If you look closer i think that isn't an IB. The "IB" has a higher high then the preceding bar. Correct me if i'm wrong. Cheers
  • #1,736
  • Jun 13, 2008 4:03am Jun 13, 2008 4:03am
Quoting dwkm
If you look closer i think that isn't an IB. The "IB" has a higher high then the preceding bar. Correct me if i'm wrong. Cheers
On my feed you are right by a pip, I took the trade anyway. ie short the e/u at 15430.
Good Trading
  • #1,737
  • Jun 13, 2008 4:13am Jun 13, 2008 4:13am
Quoting dwkm
If you look closer i think that isn't an IB. The "IB" has a higher high then the preceding bar. Correct me if i'm wrong. Cheers
Your right by one pip. Ooops.
Indicators show the past. Price Action "Indicates" the future.
  • #1,738
  • Jun 13, 2008 4:17am Jun 13, 2008 4:17am
Quoting jarroo
Your right by one pip. Ooops.
Heheh not that i like picking in technicalities like this, just that i was camping for an IB on all the 4 majors and was cussing at that 1 pip haha
  • #1,739
  • Edited 5:09am Jun 13, 2008 4:22am | Edited 5:09am
Quoting razldazl
Hi all,
Having a great time reading from start to finish, what an interesting and clever guy that Peter is!!
His simple filter is absolutely amazing, like he said if I think about it and all my trades only taking longs above daily open and shorts below close would have saved me many many losses(whats that saying about bottom pickers again?). I think that this filter would improve the r:r on a lot of other PA setups as well, (anyone tried that?) but its nice to focus on one simple setup. This is really up my alley, finally something with small stops, and unlimited potential gains. Excellent work Jarroo! PS shorted cable with a 9 pip stop, you just gotta love it!(even if I get stopped!) Raz

No one gets smelly fingers on this thread razl. My exact thoughts about small losses. One can stop and reverse a few times and catch a big trend. I haven't checked the Open on other PA setups yet. Should prove interesting.

I look forward to your other thoughts and insight.

Thanks razl.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #1,740
  • Jun 13, 2008 4:26am Jun 13, 2008 4:26am
Hi guys

Do you think this is a valid DIBS Signal for EJ
Attached Image (click to enlarge)
Click to Enlarge Name: 5.gif Size: 16 KB
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