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The DIBS Method... No Free Lunch continues

  • #2,021
  • Jun 17, 2008 9:44am Jun 17, 2008 9:44am
Yes I think the set up is still valid...

Quoting ACartwright
USD/CAD

Hope it works!

Al
  • #2,022
  • Jun 17, 2008 9:45am Jun 17, 2008 9:45am
Quoting HouseTrader
Could someone tell me why the hell this damn EUR didn't go south????

My IB was H:1.5501 L:1.5485, put my order according to the spread and there it comes... regular/good news, I said regular, cause there was no catastrophic news from US..., and BUMM! Stopped out!

Gosh.... it would be soooo good win 100%....
b/c all of us did not sell 5 lots. if we had it would have gone south. take for example i sold just 2 lots. it is still running. i know trichet will come to my rescue soon.
  • #2,023
  • Jun 17, 2008 10:04am Jun 17, 2008 10:04am
Quote
Awesome I've been guilty of seeing many green pips and banking them... I should use 3 lots... 1 for 1:1, 1 for a fair amount of pips, and the last just let it run till it hits the stop or it hits the mega lotto... lol
Hi Galeforce,

Like your humour!

Didn't like the swings plus news in markets today, so thought I'd try in demo mode a variation of your suggested approach (I think someone suggested this exact approach for conservative entry????) -

3 lots,
two @ 1:0.5 (i.e. PT is set at half Stoploss),
third move to breakeven when first two attain PT.

Entered trades at noon BST
EU short @ 1.5486 stop 22pips, first two lots hit 11 each, so bagged 22.
Moved third to BE and later stopped out.
UChf long @ 1.0434 stop 20pips, first two lots it 10 each, so bagged 20,
Moved third to BE and later stopped out.
UJ long @108.21, stop17pips, first two lots hit 8.5 each, so bagged 17,
Moved third lot to BE and later stopped out.

So, total demo pips bagged using this approach was 59.

I noted later that, of the three trades the UChf would still be open if I had left the third lot at the original stop. If I had left the original stop on the third trade with EU and UJ, I would currently be holding only 17 pips.......so, on a difficult day, perhaps the ultra cautious approach is the one to take (apart from staying away and watching from the sidelines.......but then, nothing ventured, nothing gained!)

Hope this is of some interest to people.

AT
  • #2,024
  • Jun 17, 2008 10:12am Jun 17, 2008 10:12am
Quoting attictrader
Hi Galeforce,

Like your humour!

Didn't like the swings plus news in markets today, so thought I'd try in demo mode a variation of your suggested approach (I think someone suggested this exact approach for conservative entry????) -

3 lots,
two @ 1:0.5 (i.e. PT is set at half Stoploss),
third move to breakeven when first two attain PT.

Entered trades at noon BST
EU short @ 1.5486 stop 22pips, first two lots hit 11 each, so bagged 22.
Moved third to BE and later stopped out.
UChf long @ 1.0434 stop 20pips, first two lots it 10 each, so bagged 20,
Moved third to BE and later stopped out.
UJ long @108.21, stop17pips, first two lots hit 8.5 each, so bagged 17,
Moved third lot to BE and later stopped out.

So, total demo pips bagged using this approach was 59.

I noted later that, of the three trades the UChf would still be open if I had left the third lot at the original stop. If I had left the original stop on the third trade with EU and UJ, I would currently be holding only 17 pips.......so, on a difficult day, perhaps the ultra cautious approach is the one to take (apart from staying away and watching from the sidelines.......but then, nothing ventured, nothing gained!)

Hope this is of some interest to people.

AT
Yes this is my approch on difficult DIBS as I have posted it earlier, but I dont move the stop on the remaining 1/3 to BE.
  • #2,025
  • Jun 17, 2008 10:15am Jun 17, 2008 10:15am
Don't have a 4h set-up on EU myself. Last bar's high was lower than this one by 2 pips.

I stayed out of the EU coz at the time UJ and UC looked a bit more active and it was the last one of the three to trigger.
  • #2,026
  • Jun 17, 2008 10:17am Jun 17, 2008 10:17am
That's it for today, not the best of days, but it's all part of the game, and this is where the money managment part comes in. Remember folks: small losses, big wins requires small risk entries and letting our profit ride, ride and ride.

PS! I forgot on thing: Cut your lossed and let your profits ride (ops I already mentioned it didnt I?!) . Money managment is for me 50% of a system. Psychology is maybe 30%. The rest is the system rules.
  • #2,027
  • Jun 17, 2008 10:18am Jun 17, 2008 10:18am
Quoting Catch-22
Don't have a 4h set-up on EU myself. Last bar's high was lower than this one by 2 pips.

I stayed out of the EU coz at the time UJ and UC looked a bit more active and it was the last one of the three to trigger.
Too rangie markets, better to stay out now and accept the fact that there's always tomorrow.
  • #2,028
  • Jun 17, 2008 10:21am Jun 17, 2008 10:21am
Quoting razldazl
I downloaded that to my indicators file this morning but its not doing anything, where should I have put it? Isnt it an indicator? Any help appreciated, Raz
Try this one...it is an indicator, not an EA
Attached File(s)
File Type: mq4 xMeter_Indicator2_updated.mq4   11 KB | 911 downloads
File Type: ex4 xMeter_Indicator2_updated.ex4   12 KB | 554 downloads
  • #2,029
  • Jun 17, 2008 10:24am Jun 17, 2008 10:24am
Anyone on this set up?
I don't know if it is a good idea to maintain the set up for many bars.... the r/r ratio could be not so good...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 16 KB
  • #2,030
  • Edited 12:29pm Jun 17, 2008 11:13am | Edited 12:29pm
Hi, Oksana,
first, I want to thank you for the great work you made here, you have marked several steps forward for this strategy....
I have only one suggestion, as I find it very useful in determining the breakout direction of DIBS.
As you can see from the att chart, using a stoch 21,3,3 it's very easy to determine the direction, as when stoch is in OS area(not necessarily) and crossing up, you go long and short for viceversa. The crossing of stoch is in 90% of the cases the one that determines the move, not necessarily the position.
I think it will help EA refine it's decisions and bring a great ++++ to equity.
Also we MUST use several(at least 3) orders, so we can set the different TP levels for EA, let's say 80, 100, 150 pips.
I'm using this strategy (including MM) and the results are amazing.
What do you think?


Sorry, also noticed that on a reverse order, the trailing stop and stop loss is not working....
Also, sometimes, when TP on one order, it opens another order in the same direction, without any reason...
And what means "max lag"?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 13 KB
I don't say
  • #2,031
  • Jun 17, 2008 11:28am Jun 17, 2008 11:28am
Quoting NowAndLater
Too rangie markets, better to stay out now and accept the fact that there's always tomorrow.
Yep...

Me too, I'm done for today....

Better go back to my barbeque.... ops... my office....

Tomorrow the market will still be there...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #2,032
  • Jun 17, 2008 11:43am Jun 17, 2008 11:43am
Quoting davema
House,
Where is the 1am est candle on that chart??? How about an EA for that EEG? LOLhttp://www.forexfactory.com/images/icons/icon7.gif
Cheers,
Dave
Come on, Dave... I don't need those fancy things in this chart! Can't you clearly see the simplicity of it? Trading naked! If you don't understand this, better go to the start of the thread ...



Just kidding man... Those EEG stuff are greek to most part of the doctors! But we always make that "Huumm, I see..." face and go right to the "Diagnosis Impression" typed on the bottom line....

Cheers!
Many share my views with me. But I don't share them with them...
  • #2,033
  • Jun 17, 2008 12:38pm Jun 17, 2008 12:38pm
Quoting orion70
Try this one...it is an indicator, not an EA
thanks that works!
Never say never.
  • #2,034
  • Jun 17, 2008 1:08pm Jun 17, 2008 1:08pm
Hi Orion,
What is this indicator doing
Steve
Quoting orion70
Try this one...it is an indicator, not an EA
  • #2,035
  • Jun 17, 2008 4:01pm Jun 17, 2008 4:01pm
I have a question about what type of broker is better to use for the DIBS Method: ECN(MBT) or NON-ECN(IBFX). I currently have accts with both. In a scenario where a trader is going short on a pair with an ECN your stop loss is in danger of being triggered by an unexpected widening of the spread( even if it is as small as 1 pip extra then you anticipated). Imo this is difficult to plan for given that spreads aren't fixed. Although with a broker like IBFX the spreads are variable but they are fixed a large majority of the time. Pros are you can feel more confident about your stop level, but the con is that you have a larger spread. Any opinions would be greatly appreciated.
P.S. I believe Peter Crowns has MBT listed as his preffered broker.
  • #2,036
  • Jun 17, 2008 6:26pm Jun 17, 2008 6:26pm
hello everyone
just found explanation for fade in my market wizards book

Fade. To trade in the opposite direction of a market signal(or analyst).
For example, a trader who goes short after prices penetrate the
upside of a prior consolidation---a price development that most
technically oriented traders would interpret as a signal to buy or
stay long---can be said to be fading the price breakout.

I hope this helps

joy
  • #2,037
  • Jun 17, 2008 8:01pm Jun 17, 2008 8:01pm
Quoting stevecartwright
Hi Orion,
What is this indicator doing
Steve
I haven't seen any docs on it so I don't know for sure. Just had it laying around and posted it for those that are having problems with the EA version.
  • #2,038
  • Jun 17, 2008 9:06pm Jun 17, 2008 9:06pm
hi Dragosd1

could u please post that stochastic indicator u have mq4 if possible

thanks in advance

shaker
  • #2,039
  • Jun 17, 2008 10:34pm Jun 17, 2008 10:34pm
just been going through Peter's posts on the other thread again. Absolutely Golden.
FF journal: Peaks and Troffs
  • #2,040
  • Jun 17, 2008 11:31pm Jun 17, 2008 11:31pm
Quoting TradeStar
Pasupathy,

This is what raz is referring to. You may take the break of the high of the 'arrowed' candle.
Thank you Raz & TradeStar ....Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
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