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The DIBS Method... No Free Lunch continues

  • #2,201
  • Jun 18, 2008 3:09pm Jun 18, 2008 3:09pm
Quoting davema
House,
If I understand your "perverted" method, it looks like the second perverted IB was the 11:30 est candle and you would have entered above 1.5507. It looks like you had some good confluence: It retraced about 50% of the last 30 minute swing and about 38.2% from today's low. I like your style. You use discretion and actually think and plan before you trade. Maybe you could repost that special H.S. EA for everyone's benefit.
By the way, do your patients know that you practice these "perverted" methods?
Cheers, Dave
... that's our little secret, Dave... don't let them know I'm a perverted... I got to pay my bills!!!

In fact I don't know really how to use those Fib things (I'm just a doctor, math is greek to me... I use rather S/R lines, way more simple to my medical brain), but my thinking matches your statement, indeed.

I guess is some kind of intuition... If I see a huge impulsive wave, then a pullback that passes half the big bar length (here it is, the 50% level), then a second bar that came down a little more WITHOUT break that first impulsive bar low, I just think: "Well, the bulls showed up and kicked the price up, now, as human beings -- or animals? -- they are taking a breathe and preparing to continue kicking up..." Of course, this may not be reliable if there are heavy news to come... At these times I prefer to sit on my itching hands...

I admire those who master the use of Fibs, it's another great tool to be used, cause a tool can only be strong if a lot of people use it, and I guess Fibs are widely used... Shame on me I couldn't understand it well yet , I swear I will dedicate some time to it...

Is this the EA you mentioned?

http://media3.guzer.com/pictures/homers_brain.jpg


Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #2,202
  • Jun 18, 2008 3:11pm Jun 18, 2008 3:11pm
Quoting f4mnect
I am in total agreement and those 3 have become the go to currency's with me. With the CHF really becoming my favorite and this week the markets is a mess. but for the 3 weeks before the chf paid the bills. Yes I would love to jump into a GBP or GJ or EJ dib and bank 150 plus pips. But for me...those 3 are a mess right now and add much more risk to my trading
110% with you!
Many share my views with me. But I don't share them with them...
  • #2,203
  • Jun 18, 2008 3:20pm Jun 18, 2008 3:20pm
my day summary... (demo version)

1. EUR_USD loss 20 pips (short set_up)
2. USD_JPY no trades
3. GBP_USD gain 15 pips (short set_up)
4. USD_CHF gain 15 pips (long set_up)
5. USD_CAD loss 15 pips (long set_up)
6. EUR_CHF no trades
7. EUR_JPY no trades

Total: 5 pips loss.
At the moment my system is very simple, I hope to improve it in the next future...
  • #2,204
  • Jun 18, 2008 3:26pm Jun 18, 2008 3:26pm
I guess is some kind of intuition... If I see a huge impulsive wave, then a pullback that passes half the big bar length (here it is, the 50% level), then a second bar that came down a little more WITHOUT break that first impulsive bar low, I just think: "Well, the bulls showed up and kicked the price up, now, as human beings -- or animals? -- they are taking a breathe and preparing to continue kicking up..." Of course, this may not be reliable if there are heavy news to come... At these times I prefer to sit on my itching hands...
That's the style of thinking that I admire. Keep up the good work my friend!


Is this the EA you mentioned?
Yes, that's it.http://www.forexfactory.com/images/icons/icon12.gif

http://media3.guzer.com/pictures/homers_brain.jpg



Cheers!

HT[/quote]
  • #2,205
  • Jun 18, 2008 9:45pm Jun 18, 2008 9:45pm
Quoting Alberto_Jazz
my day summary... (demo version)
Finally took the plunge live.
Should have taken USDCHF and EURCHF instead of USDCAD... sigh...

4 trades, 3 losses, B/E in pips, 0,04% in profit

1) USDCAD (short) = -16
2) USDCAD (long) = -15
3) GBPUSD (long) = 33 (entered 6 pips late)
4) EURUSD (long) = -2

Closed both GBP and EUR trades for several reasons:
1) Scared of not making it to B/E (shame on me, lol)
2) GBP was bumping against a resistance (or so it seemed)
3) EURCHF started going down strongly and I thought EUR could reverse as well.

But all in all, an excellent experience, the system is very easy but the stoploss part is not so evident when too close of price (for platforms that require a minimum of 10 pips distance). Had to close both USDCAD trades manually at the stop.
  • #2,206
  • Jun 18, 2008 11:55pm Jun 18, 2008 11:55pm
First Post has been updated.

Thanks NowAndLater, doubletop, MPP and many others.

http://www.forexfactory.com/showthread.php?t=86766


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,207
  • Jun 19, 2008 12:26am Jun 19, 2008 12:26am
0600 GMT Official DIBS Opening Time

GMT -12:00 1800 HRS or 6.00 PM
GMT -11:00 1900 HRS or 7.00 PM
GMT -10:00 2000 HRS or 8.00 PM
GMT -09:00 2100 HRS or 9.00 PM
GMT -08:00 2200 HRS or 10.00 PM
GMT -07:00 2300 HRS or 11.00 PM
GMT -06:00 2400 HRS or 12.00 AM MIDNIGHT
GMT -05:00 0100 HRS or 1.00 AM
GMT -04:00 0200 HRS or 2.00 AM
GMT -03:00 0300 HRS or 3.00 AM
GMT -02:00 0400 HRS or 4.00 AM
GMT -01:00 0500 HRS or 5.00 AM
GMT -00:00 0600 HRS or 6.00 AM
GMT +01:00 0700 HRS or 7.00 AM
GMT +02:00 0800 HRS or 8.00 AM
GMT +03:00 0900 HRS or 9.00 AM
GMT +03:30 0930 HRS or 9.30 AM
GMT +04:00 1000 HRS or 10.00 AM
GMT +04:30 1030 HRS or 10.30 AM
GMT +05:00 1100 HRS or 11.00 AM
GMT +05:30 1130 HRS or 11.30 AM
GMT +06:00 1200 HRS or 12.00 PM
GMT +07:00 1300 HRS or 1.00 PM
GMT +08:00 1400 HRS or 2.00 PM
GMT +09:00 1500 HRS or 3.00 PM
GMT +09:30 1530 HRS or 3.30 PM
GMT +10:00 1600 HRS or 4.00 PM
GMT +11:00 1700 HRS or 5.00 PM
GMT +12:00 1800 HRS or 6.00 PM

  1. Find out whichever time zone you are in.
  2. The time beside the time zone will be the time in your country which is the starting time for DIBS IB Entry
  3. Whichever broker you are using, Just look at your home clock and note that the bar forming at the time is the bar which you should use for any future reference with regards to the starting time.

I hope this helps for people lazy to calculate themselves.

Disregard this post as trash if you find it redundent.

Have fun trading.

  • #2,208
  • Jun 19, 2008 1:00am Jun 19, 2008 1:00am
Quoting HouseTrader
Just to mention.... don't try this at home

Does anybody caught the IB on EUR/USD later?

Forgive me Lord, cause I have practiced a mortal sin...

I got the trade on 30M, on a 2nd perverted IB.... shame on me...

Cheers...

HT
Yes, a sweet one. Thought it worth the risk even though it was late in the session, plenty of potential range play left plus strength was ticking up on EUR at the time.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 18th June 08 (1).GIF Size: 91 KB
  • #2,209
  • Jun 19, 2008 1:04am Jun 19, 2008 1:04am
Quoting dwkm
0600 GMT Official DIBS Opening Time

GMT -12:00 1800 HRS or 6.00 PM
GMT -11:00 1900 HRS or 7.00 PM
GMT -10:00 2000 HRS or 8.00 PM
GMT -09:00 2100 HRS or 9.00 PM
GMT -08:00 2200 HRS or 10.00 PM
GMT -07:00 2300 HRS or 11.00 PM
GMT -06:00 2400 HRS or 12.00 AM MIDNIGHT
GMT -05:00 0100 HRS or 1.00 AM
GMT -04:00 0200 HRS or 2.00 AM
GMT -03:00 0300 HRS or 3.00 AM
GMT -02:00 0400 HRS or 4.00 AM
GMT -01:00 0500 HRS or 5.00 AM
GMT -00:00 0600 HRS or 6.00 AM
GMT +01:00 0700 HRS or 7.00 AM
GMT +02:00 0800 HRS or 8.00 AM
GMT +03:00 0900 HRS or 9.00 AM
GMT +03:30 0930 HRS or 9.30 AM
GMT +04:00 1000 HRS or 10.00 AM
GMT +04:30 1030 HRS or 10.30 AM
GMT +05:00 1100 HRS or 11.00 AM
GMT +05:30 1130 HRS or 11.30 AM
GMT +06:00 1200 HRS or 12.00 PM
GMT +07:00 1300 HRS or 1.00 PM
GMT +08:00 1400 HRS or 2.00 PM
GMT +09:00 1500 HRS or 3.00 PM
GMT +09:30 1530 HRS or 3.30 PM
GMT +10:00 1600 HRS or 4.00 PM
GMT +11:00 1700 HRS or 5.00 PM
GMT +12:00 1800 HRS or 6.00 PM

  1. Find out whichever time zone you are in.
  2. The time beside the time zone will be the time in your country which is the starting time for DIBS IB Entry
  3. Whichever broker you are using, Just look at your home clock and note that the bar forming at the time is the bar which you should use for any future reference with regards to the starting time.

I hope this helps for people lazy to calculate themselves.

Disregard this post as trash if you find it redundent.

Have fun trading.

Thank you very much. Do I have permission to print this and use anyhow I like? Once again thank you. You never really know how this helps.
  • #2,210
  • Jun 19, 2008 1:06am Jun 19, 2008 1:06am
Quoting trustGod1234
Thank you very much. Do I have permission to print this and use anyhow I like? Once again thank you. You never really know how this helps.
Do anything with it. its not copyrighted lol..
  • #2,211
  • Jun 19, 2008 1:08am Jun 19, 2008 1:08am
Anyone else catch the ib on USDCAD?

5 PIP risk. Entered at 1.0167 closed out 2/3 at 1.0183. Leaving the rest of the trade to run with SL moved to b/e
  • #2,212
  • Jun 19, 2008 1:14am Jun 19, 2008 1:14am
Quoting RRothschild
Anyone else catch the ib on USDCAD?

5 PIP risk. Entered at 1.0167 closed out 2/3 at 1.0183. Leaving the rest of the trade to run with SL moved to b/e
Saw it. Didn't catch it. Nice RRoth.
Indicators show the past. Price Action "Indicates" the future.
  • #2,213
  • Jun 19, 2008 1:33am Jun 19, 2008 1:33am
Here is something that needs clarification.

From post#1

Quote
What’s an Inside Bar (candle)?
A bar with a high that is lower than the previous bar’s high and a low that is higher than the previous bar’s low. (chart to follow)
This does not appear to be the definition that Peter used.

I'm attaching one of his charts that shows an IB he used for a breakout. (the second breakout- left of the chart with the small yellow arrow). The H of this IB is clearly equal to the H of it's previous bar, not lower than. There are other examples of this in his charts.

This is something that comes up a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: InsideHourlybreakouts2.JPG Size: 99 KB
  • #2,214
  • Jun 19, 2008 1:55am Jun 19, 2008 1:55am
Quoting jarroo
First Post has been updated.
Thanks NowAndLater, doubletop, MPP and many others.
http://www.forexfactory.com/showthread.php?t=86766
Jim
Thank you for this!
  • #2,215
  • Edited 2:16am Jun 19, 2008 2:04am | Edited 2:16am
Quoting billbss
Here is something that needs clarification.

From post#1

This does not appear to be the definition that Peter used.

I'm attaching one of his charts that shows an IB he used for a breakout. (the second breakout- left of the chart with the small yellow arrow). The H of this IB is clearly equal to the H of it's previous bar, not lower than. There are other examples of this in his charts.

This is something that comes up a lot.
There are times where the Highs and/or Lows are equal. I have used them also. But for the true definition of an Inside Bar (candle). That definition is 100% correct.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,216
  • Jun 19, 2008 2:04am Jun 19, 2008 2:04am
Quoting billbss
Here is something that needs clarification.

From post#1

This does not appear to be the definition that Peter used.

I'm attaching one of his charts that shows an IB he used for a breakout. (the second breakout- left of the chart with the small yellow arrow). The H of this IB is clearly equal to the H of it's previous bar, not lower than. There are other examples of this in his charts.

This is something that comes up a lot.
You are right and I personally take these as well because they are also valid signals as I learned them from James16 thread. He calls them TwoMatchingHighTrendBreakout (TMHTB) and TMLTB (L=Low). Maybe Jarroo could add this to first page as well as a further explanation to which setups are valid.
  • #2,217
  • Jun 19, 2008 2:28am Jun 19, 2008 2:28am
Quoting RRothschild
Anyone else catch the ib on USDCAD?

5 PIP risk. Entered at 1.0167 closed out 2/3 at 1.0183. Leaving the rest of the trade to run with SL moved to b/e
Nice low risk/ high profit potential trade on the Usd/Cad. Don't know if you got stopped out at break even, but if you did, it turned out profitable.

There are different ways to trade the DIBS method. RRoth just illustrated one way on the Cad. Was it a 100% DIBS trade? Maybe not, but it was close; 95%.

Nice one RRoth.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #2,218
  • Jun 19, 2008 2:30am Jun 19, 2008 2:30am
Quoting jarroo
There are times where the Highs and/or Lows are equal. I have used them also. But for the true definition of an Inside Bar (candle). That definition is 100% correct.

It depends on where you get the definition.
Some TA literature merely says the IB cannot exceed the bounds of the previous bar.

It doesn't matter what definition is used as long as it's consistently used.

You say there are "times" you don't adhere to the definition on post 1. Can you tell us what those times are? What rules govern when you do and when you don't?
  • #2,219
  • Jun 19, 2008 2:41am Jun 19, 2008 2:41am
I have pretty much read all posts but do not recall seeing the answer, how long is an IB valid ? 4 bars, 5 bars, until it breaks or just immediately following the IB bar ??

Sorry if this annoys
  • #2,220
  • Edited 11:01pm Jun 19, 2008 2:54am | Edited 11:01pm
Quoting billbss
It depends on where you get the definition.
Some TA literature merely says the IB cannot exceed the bounds of the previous bar.

It doesn't matter what definition is used as long as it's consistently used.

You say there are "times" you don't adhere to the definition on post 1. Can you tell us what those times are? What rules govern when you do and when you don't?

Bill are you an engineer? . . never mind . . just kidding.

If a trend of the day is clearly established and is moving strong, I'll wait for an IB to present itself. Now if one appears and the bottom is equal to the previous bar (looking to short in a downtrend) I'll take it. One pip is not going to be an end all for me. Just like I did on June 10th.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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