The DIBS Method... No Free Lunch continues
Hi guys
Just to let you guys know,maybe you are aware,but there was A DAILY IB on Cable as well,so it helps in the trade just taken on the 1 hr TF.
baz
)
yes I took that trade at 1.9867 with 28 pips stoploss (the IB size). Now since price moved in favor by 28 pips my EA closed 50% lot size and moved stoploss to breakeven for a free trade. From here onward for each 28 pips gain I will move the stoploss up by 28 pips so that my R:R will move up from 1:1 to 2:1 then 3:1 and so on ...until I will be stopped out with a good profit or no loss
I'm also short EURUSD at 1.5483 with -10 pips right now.
So far my result (mixed manual and automatic with EA since 2 days) are :
Period : Trades taken from 11 Jun 2008 to 19 Jun 2008
Tot Pips : 363
Winning Trades : 17
Losing Trades : 3
BreakEven Trades : 4
Win/Loss % : 87.50%
Edit : I forgot to tell that I only trade majors as PC (EURUSD,USDJPY,USDCHF,GBPUSD)
Cheers,
Skyline
yes I took that trade at 1.9867 with 28 pips stoploss (the IB size). Now since price moved in favor by 28 pips my EA closed 50% lot size and moved stoploss to breakeven for a free trade. From here onward for each 28 pips gain I will move the stoploss up by 28 pips so that my R:R will move up from 1:1 to 2:1 then 3:1 and so on ...until I will be stopped out with a good profit or no loss
I'm also short EURUSD at 1.5483 with -10 pips right now.
So far my result (mixed manual and automatic with EA since 2 days) are :
Period : Trades taken from 11 Jun 2008 to 19 Jun 2008
Tot Pips : 363
Winning Trades : 17
Losing Trades : 3
BreakEven Trades : 4
Win/Loss % : 87.50%
Edit : I forgot to tell that I only trade majors as PC (EURUSD,USDJPY,USDCHF,GBPUSD)
Cheers,
Skyline
Nice figures Sky, about where I'm at actually, very nice man!
You have closed 50% at 1:1 and moved stop to BE, and the you say "until I will be stopped out with a good profit or no loss". If you've moved your stop to BE you will have "good profit or small profit"
Yes there sure is baz. Check out the 4 IB as well. (How did I miss those.
Yes there sure is baz. Check out the 4 IB as well. (How did I miss those.
, computer ) so I make sure I do everything right and don't miss these higher timeframe trades, among other things that I usually look for.It happens,but i always start the day with a TOP/DOWN approach before making a TRADING decision or see a possible TREND for the day on the 4 majors.
take care
baz
nice going Skyline! Were all your trades taken manually or automatically through the EA?
I'm using EA since 2 days (but I'm watching carefull my trades) , most of the profit was done manually (when EA wasn't still coded).
So far this system seems really good
I'm with you brother, just closed 2/3...
1/2 at 1:1 also reached... nnnnnnnnnnice! (for you who did that)
.sorry to tell you guys but as the one who took this trade in real time the 1:1 ratio was not reached . if we take the trade 2 pips above 1.9686 plus 4 pips spread that makes it long 1.9692 and the sl should be 2 pips below the IB at 1.9657 it makes it 35 pips to close the first half at 1.9727 but the price reached only 1.9724.
i quess some of you may have smaller spread and enter from the first pip (i dont think it is so clever) and reached the first TP on the pip but my trade is still open and at small lose
the first TP should have been the daily high at 1.9717 but like some of you said "dont think" , there is a fixed plane for the trade.
what do you think?
sorry to tell you guys but as the one who took this trade in real time the 1:1 ratio was not reached . if we take the trade 2 pips above 1.9686 plus 4 pips spread that makes it long 1.9692 and the sl should be 2 pips below the IB at 1.9657 it makes it 35 pips to close the first half at 1.9727 but the price reached only 1.9724.
i quess some of you may have smaller spread and enter from the first pip (i dont think it is so clever) and reached the first TP on the pip but my trade is still open and at small lose
the first TP should have been the daily high at 1.9717 but like some of you said "dont think" , there is a fixed plane for the trade.
what do you think?
sorry to tell you guys but as the one who took this trade in real time the 1:1 ratio was not reached . if we take the trade 2 pips above 1.9686 plus 4 pips spread that makes it long 1.9692 and the sl should be 2 pips below the IB at 1.9657 it makes it 35 pips to close the first half at 1.9727 but the price reached only 1.9724.
i quess some of you may have smaller spread and enter from the first pip (i dont think it is so clever) and reached the first TP on the pip but my trade is still open and at small lose
the first TP should have been the daily high at 1.9717 but like some of you said "dont think" , there is a fixed plane for the trade.
what do you think?
Well, it think it depends on your broker quote. We could have very different result each other for this reason.
I get order filled at 1.9687 (with limit order) and high was at 1.9725 for 38 pips so as you can see I get my 1:1 trade and my account is here to witness this
Cheers,
Skyline
you cant trade a breakout system with limit orders.
this time it wasnt a clear breakout, so it went back and took you on 1.9687 which is actually a bid of 1.9683/4 depends on your spread and still inside the IB.
this case it worked well for you , but sometimes it breakouts and dont go back to pick you, i think we should trade this system only with stop orders and this way you couldnt enter the trade before 1.9690
correct me if im wrong
