Attachments: The DIBS Method... No Free Lunch continues

The DIBS Method... No Free Lunch continues

#2,021
Jun 17, 2008 7:44am Jun 17, 2008 7:44am

Alberto_Jazz
Joined Jun 2008 | Status: Trader | 595 Posts

Yes I think the set up is still valid...

Quoting ACartwright

Disliked

USD/CAD

Hope it works!

Al

Ignored

#2,022
Jun 17, 2008 7:45am Jun 17, 2008 7:45am

trustGod1234
| Joined Dec 2007 | Status: Trader | 111 Posts

Quoting HouseTrader

Disliked

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%....

Ignored

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 8:04am Jun 17, 2008 8:04am

attictrader
| Joined Mar 2007 | Status: Trader | 138 Posts

Quote

Disliked

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 8:12am Jun 17, 2008 8:12am

NowAndLater
| Joined Sep 2007 | Status: Breakout Baby | 692 Posts

Quoting attictrader

Disliked

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

Ignored

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 8:15am Jun 17, 2008 8:15am

Catch-22
| Joined Feb 2008 | Status: Trader | 528 Posts

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 8:17am Jun 17, 2008 8:17am

NowAndLater
| Joined Sep 2007 | Status: Breakout Baby | 692 Posts

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 8:18am Jun 17, 2008 8:18am

NowAndLater
| Joined Sep 2007 | Status: Breakout Baby | 692 Posts

Quoting Catch-22

Disliked

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.

Ignored

Too rangie markets, better to stay out now and accept the fact that there's always tomorrow.

#2,028
Jun 17, 2008 8:21am Jun 17, 2008 8:21am

orion70
| Joined Apr 2007 | Status: Trader | 540 Posts

Quoting razldazl

Disliked

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

Ignored

Try this one...it is an indicator, not an EA

Attached File(s)

xMeter_Indicator2_updated.mq4 11 KB | 911 downloads

xMeter_Indicator2_updated.ex4 12 KB | 554 downloads

#2,029
Jun 17, 2008 8:24am Jun 17, 2008 8:24am

Alberto_Jazz
Joined Jun 2008 | Status: Trader | 595 Posts

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...

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#2,030
Edited 10:29am Jun 17, 2008 9:13am | Edited 10:29am

dragosd1
| Joined Feb 2008 | Status: Trader | 572 Posts

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

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I don't say

#2,031
Jun 17, 2008 9:28am Jun 17, 2008 9:28am

HouseTrader
| Joined Mar 2008 | Status: ... I was aiming at the horse! | 913 Posts

Quoting NowAndLater

Disliked

Too rangie markets, better to stay out now and accept the fact that there's always tomorrow.

Ignored

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 9:43am Jun 17, 2008 9:43am

HouseTrader
| Joined Mar 2008 | Status: ... I was aiming at the horse! | 913 Posts

Quoting davema

Disliked

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

Ignored

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 10:38am Jun 17, 2008 10:38am

razldazl
| Joined Mar 2007 | Status: Zoom out | 1,425 Posts

Quoting orion70

Disliked

Try this one...it is an indicator, not an EA

Ignored

thanks that works!

Never say never.

#2,034
Jun 17, 2008 11:08am Jun 17, 2008 11:08am

Spikehunter
Joined Mar 2006 | Status: Trader | 700 Posts

Hi Orion,
What is this indicator doing
Steve

Quoting orion70

Disliked

Try this one...it is an indicator, not an EA

Ignored

#2,035
Jun 17, 2008 2:01pm Jun 17, 2008 2:01pm

lrj72
| Joined Jun 2008 | Status: Trader | 16 Posts

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 4:26pm Jun 17, 2008 4:26pm

joypips
| Joined Dec 2007 | Status: Trader | 595 Posts

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 6:01pm Jun 17, 2008 6:01pm

orion70
| Joined Apr 2007 | Status: Trader | 540 Posts

Quoting stevecartwright

Disliked

Hi Orion,
What is this indicator doing
Steve

Ignored

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 7:06pm Jun 17, 2008 7:06pm