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The DIBS Method... No Free Lunch continues

  • #2,061
  • Jun 18, 2008 1:28am Jun 18, 2008 1:28am
Quoting Trumpcard
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!
Trumpcard, the IB you mention isnt it the previous day's? the one with the arrow?
Unlelss I am missing something big time here in understanding this system, then I might be wrong. Can someone help please clarifying this?
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: swissy.gif Size: 24 KB
  • #2,062
  • Jun 18, 2008 1:32am Jun 18, 2008 1:32am
Quoting Trumpcard
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!
I would keep the original order. The Swissy long IBs have the same stop loss. (close enough)
Indicators show the past. Price Action "Indicates" the future.
  • #2,063
  • Jun 18, 2008 1:38am Jun 18, 2008 1:38am
Quoting xrunner
Trumpcard, the IB you mention isnt it the previous day's? the one with the arrow?
Unlelss I am missing something big time here in understanding this system, then I might be wrong. Can someone help please clarifying this?
thanks
I have mentioned it many times, maybe you missed it.

You can play IBs that are a hour or two prior to the Open (0100 EST). As long as you play them off the Open of the day (0100 EST).

Hope this helps.
Indicators show the past. Price Action "Indicates" the future.
  • #2,064
  • Jun 18, 2008 1:40am Jun 18, 2008 1:40am
xrunner

Quote
Trumpcard, the IB you mention isnt it the previous day's? the one with the arrow?
Unlelss I am missing something big time here in understanding this system, then I might be wrong. Can someone help please clarifying this?
thanks
Peter wrote - I will take trades within the opening session bar, if the previous hourly bar is an inside bar.
  • #2,065
  • Jun 18, 2008 1:43am Jun 18, 2008 1:43am
Quoting xrunner
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.
Thanks for the heads up xrunner. I have planned my trade and I am trading my plan. If Price stops me out with out hitting my FTT (Free Trade Target ) I am fine with that.
Indicators show the past. Price Action "Indicates" the future.
  • #2,066
  • Jun 18, 2008 1:44am Jun 18, 2008 1:44am
Jarroo and Attictrader,

thank you very much for the clarification. That really helps understanding more now.
  • #2,067
  • Jun 18, 2008 1:46am Jun 18, 2008 1:46am
It looks like current GBP/USD candle will be a weak one!

Lets hope it carrys on down south!

May be another IB
  • #2,068
  • Jun 18, 2008 1:47am Jun 18, 2008 1:47am
Quoting jarroo
Thanks for the heads up xrunner. I have planned my trade and I am trading my plan. If Price stops me out with out hitting my FTT (Free Trade Target ) I am fine with that.
Jarro, I like the new term, FTT, its definitely going to catch up, just make sure you get the rights of the author registered, we will be seeing it in the wikipedia soon
  • #2,069
  • Jun 18, 2008 2:01am Jun 18, 2008 2:01am
...i'm a little late this morning on GU, so will take the current IB short if offered, along with the swissy long....dollar nice 'n hot.
  • #2,070
  • Jun 18, 2008 2:01am Jun 18, 2008 2:01am
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)
0200 EST IB formed. Shorts only on this one. I will add to my position if it breaks.
Indicators show the past. Price Action "Indicates" the future.
  • #2,071
  • Jun 18, 2008 2:05am Jun 18, 2008 2:05am
Quoting jarroo
0200 EST IB formed. Shorts only on this one. I will add to my position if it breaks.

I got the First IB formation..... But I don't understand the second IB !!!

Can you please tell me the levels where you will short and add to your positions ...

Thanks
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #2,072
  • Jun 18, 2008 2:08am Jun 18, 2008 2:08am
Quoting jarroo
0200 EST IB formed. Shorts only on this one. I will add to my position if it breaks.
Stopped out 25 pip loss. Losses will happen my friends.
Indicators show the past. Price Action "Indicates" the future.
  • #2,073
  • Jun 18, 2008 2:10am Jun 18, 2008 2:10am
Quoting rpasupathy
I got the First IB formation..... But I don't understand the second IB !!!

Can you please tell me the levels where you will short and add to your positions ...

Thanks
Sorry I can't post a chart. Can you post one?
Indicators show the past. Price Action "Indicates" the future.
  • #2,074
  • Jun 18, 2008 2:11am Jun 18, 2008 2:11am
Quoting judith
I took a long CHF, it was a 12am EST IB, what do you think?

How did your trade go judith?
Indicators show the past. Price Action "Indicates" the future.
  • #2,075
  • Jun 18, 2008 2:13am Jun 18, 2008 2:13am
Quoting andrewb7
hi all

just wondering if u guys still use tradingrooms.com
& if so could i jump on board
cheers
andrew
The room appears to be still there... but nobody at this moment (except me checking).

Would be nice maybe to share charts faster?
  • #2,076
  • Jun 18, 2008 2:14am Jun 18, 2008 2:14am
My fastest 17pips in FX on GU in less than 30sec.

An IB formed in GU and price has 1.9547 and intra-day short(32.8) resistance to break to move north.

Good method
  • #2,077
  • Jun 18, 2008 2:16am Jun 18, 2008 2:16am
Quoting jarroo
Sorry I can't post a chart. Can you post one?
Yeah Jarroo .... Just now showing in my charts about the second IB formation...

So we shld have gone long @ 1.9530 ..... and stops @ 1.9502

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Gbpusd.JPG Size: 92 KB
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #2,078
  • Jun 18, 2008 2:22am Jun 18, 2008 2:22am
Quoting rpasupathy
Yeah Jarroo .... Just now showing in my charts about the second IB formation...

So we shld have gone long @ 1.9530 ..... and stops @ 1.9502

Cheers
No, not long. The IB is below the Opening Price of the day (0100 EST). So we would only take the break of the bottom of that IB not the break of the top.
Indicators show the past. Price Action "Indicates" the future.
  • #2,079
  • Jun 18, 2008 2:23am Jun 18, 2008 2:23am
Quoting rpasupathy
Yeah Jarroo .... Just now showing in my charts about the second IB formation...

So we shld have gone long @ 1.9530 ..... and stops @ 1.9502

Cheers
Why? Open price is 1.9535 on your chart so price is still below it on that IB...
  • #2,080
  • Jun 18, 2008 2:25am Jun 18, 2008 2:25am
Quoting rpasupathy
Yeah Jarroo .... Just now showing in my charts about the second IB formation...

So we shld have gone long @ 1.9530 ..... and stops @ 1.9502

Cheers
The IB was below the daily open at 6.00 GMT so this would not be a valid long.

Al
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