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The DIBS Method... No Free Lunch continues

  • #2,041
  • Jun 17, 2008 10:21pm Jun 17, 2008 10:21pm
Any one take the IBs short off the 0100 EST Open on the Cable.
(Sorry can't post a chart, not at home)
Indicators show the past. Price Action "Indicates" the future.
  • #2,042
  • Jun 17, 2008 10:23pm Jun 17, 2008 10:23pm
Quoting jarroo
Any one take the IBs short off the 0100 EST Open on the Cable.
(Sorry can't post a chart, not at home)
I did. Let's see how it goes.
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #2,043
  • Jun 17, 2008 10:23pm Jun 17, 2008 10:23pm
Quoting jarroo
This is a continuation of the DIBS Method which was started at the
No Free Lunch but all the coffee you can drink thread.
Nice thread, Jim. Best wishes!



Ron
  • #2,044
  • Jun 17, 2008 10:25pm Jun 17, 2008 10:25pm
Quoting jarroo
Any one take the IBs short off the 0100 EST Open on the Cable.
(Sorry can't post a chart, not at home)
Hey Jarroo where have you got your stop on cable now, IB high plus 1 plus spread? , Raz
Never say never.
  • #2,045
  • Jun 17, 2008 10:27pm Jun 17, 2008 10:27pm
Quoting Pips_Cruiser
Nice thread, Jim. Best wishes!



Ron
Welcome aboard Pips_Cruiser.

Come take a ride on the DIBS boat for a week or two and see how you do.
Indicators show the past. Price Action "Indicates" the future.
  • #2,046
  • Jun 17, 2008 10:28pm Jun 17, 2008 10:28pm
Quoting razldazl
Hey Jarroo where have you got your stop on cable now, IB high plus 1 plus spread? , Raz
1.9545 + spread.
Indicators show the past. Price Action "Indicates" the future.
  • #2,047
  • Jun 17, 2008 10:32pm Jun 17, 2008 10:32pm
Quoting jarroo
Welcome aboard Pips_Cruiser.

Come take a ride on the DIBS boat for a week or two and see how you do.
I might take you up on that, big guy!

  • #2,048
  • Jun 17, 2008 10:36pm Jun 17, 2008 10:36pm
Quoting Pips_Cruiser
I might take you up on that, big guy!

please do PC!!
  • #2,049
  • Jun 17, 2008 10:39pm Jun 17, 2008 10:39pm
Quoting jarroo
Any one take the IBs short off the 0100 EST Open on the Cable.
(Sorry can't post a chart, not at home)
I took a long CHF, it was a 12am EST IB, what do you think?
Attached Image
  • #2,050
  • Jun 17, 2008 10:40pm Jun 17, 2008 10:40pm
Quoting lrj72
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.
With MBT you don't have to worry about triggering SL during low liquidity times. Most of the time your order won't be filled. But if you want to be on the safe side: Under "Preferencies" ---> "Order Entry" you can choose between 2 methods of stop entries. You should change it from "first touch" to "trade through".
Check this option and what it means (attached).
Hope this helps a little.
Attached File(s)
File Type: pdf FirstTouch - Trade Through.pdf   20 KB | 1,312 downloads
42
  • #2,051
  • Jun 17, 2008 10:42pm Jun 17, 2008 10:42pm
Quoting judith
I took a long CHF, it was a 12am EST IB, what do you think?
Text book DIBS trade judith. Nice job!

Important point is that it was off the 0100 EST Open
Indicators show the past. Price Action "Indicates" the future.
  • #2,052
  • Jun 17, 2008 10:42pm Jun 17, 2008 10:42pm
Quoting judith
please do PC!!
Hmm . . . a nice group of people here. I'll have to do some studying up on the method.

  • #2,053
  • Jun 17, 2008 10:43pm Jun 17, 2008 10:43pm
Quoting jarroo
Any one take the IBs short off the 0100 EST Open on the Cable.
(Sorry can't post a chart, not at home)
Yes I did ....... shorted @ 1.9527 and booked half ... Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #2,054
  • Jun 17, 2008 10:47pm Jun 17, 2008 10:47pm
Quoting rpasupathy
Yes I did ....... shorted @ 1.9527 and booked half ... Cheers
My entry was at 1.9525. Trade risk is 1.9545 + spread (5 pips) = 25 pips. Almost there.
Indicators show the past. Price Action "Indicates" the future.
  • #2,055
  • Jun 17, 2008 11:04pm Jun 17, 2008 11:04pm
Quoting jarroo
My entry was at 1.9525. Trade risk is 1.9545 + spread (5 pips) = 25 pips. Almost there.
Cool ........ So the TP should also be 25 pips ??

What will be your strategy ?

I have shorted 1 lot and covered 0.50 @ 1.9510 ...

Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #2,056
  • Jun 17, 2008 11:12pm Jun 17, 2008 11:12pm
hi all

just wondering if u guys still use tradingrooms.com
& if so could i jump on board
cheers
andrew
Survive & Preserve
  • #2,057
  • Jun 17, 2008 11:15pm Jun 17, 2008 11:15pm
I know most of you guys might still just have crossed the midnight hour, I am in the UK. Just wanted to say this is one thread that I am starting to get addicted to, get up in the morning, check my trades and read the thread updates, heck I get my updates even on my blackberry ,

Jarroo better keep an eye on that Cable as it might get volatile pretty soon, according to your TP hasn't it just got to a whisker of it and started to jitter? Minutes of UK rate decision meeting coming out at 8:30GMT and its already playing its usual games.
  • #2,058
  • Jun 17, 2008 11:18pm Jun 17, 2008 11:18pm
If you spot a DIBS setup, and place your order and then the following bar(s) happen to be IBs, do you change the original order to reduce your stop size?
For example in the current Swissy long, there are 2 IBs next to each other. The second one was only 5 pips long - massive return to risk ratio!
  • #2,059
  • Jun 17, 2008 11:20pm Jun 17, 2008 11:20pm
Quoting rpasupathy
Cool ........ So the TP should also be 25 pips ??

What will be your strategy ?

I have shorted 1 lot and covered 0.50 @ 1.9510 ...

Cheers
This is not my Price Target. It is my "Free Trade" Target. Once Price hits the 25 pips level I will take half of my position off and ride it "free". So its my FTT.
Hey I just made that up: FTT - Free Trade Target.

Now if Price starts moving down fast and strong, I will delay taking off half to capture some pips to bank.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,060
  • Jun 17, 2008 11:27pm Jun 17, 2008 11:27pm
Quoting jarroo
This is not my Price Target. It is my "Free Trade" Target. Once Price hits the 25 pips level I will take half of my position off and ride it "free". So its my FTT.
Hey I just made that up: FTT - Free Trade Target.

Now if Price starts moving down fast and strong, I will delay taking off half to capture some pips to bank.

Jim
Thanks for the reply Jim ..... getting to know DIBS better day by day ... Thanks to all for the help.... Cheers
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
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