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The DIBS Method... No Free Lunch continues

  • #2,321
  • Jun 19, 2008 8:51am Jun 19, 2008 8:51am
Quoting eltrader
Sorry if I missed something, but didnt Peter say that he would leave his original stop in place (not b/e) after taking his 1:1 profit, so being that once the profit target had been hit that constitutes his free trade...???

yes he did, but he also added something along the lines of whatever trailing stop mechanism he's using to trail the remaining trade.

DIBS is largely a discretionary system, which is where the real skill is.
  • #2,322
  • Jun 19, 2008 8:57am Jun 19, 2008 8:57am
Quoting eltrader
Sorry if I missed something, but didnt Peter say that he would leave his original stop in place (not b/e) after taking his 1:1 profit, so being that once the profit target had been hit that constitutes his free trade...???
that exactly what i said, peter can live with a BE trade, im on the other hand cant after i had 30-40 pips already in my P/L.
i will still be in the game when big breakouts occour, not the case in this trade.
  • #2,323
  • Jun 19, 2008 8:58am Jun 19, 2008 8:58am
Quoting lordgbengs
any hope for long on GU,i guess it shd stil go up?wat do u tink
I'd consider much more upside on GU today as low probability. My best guess would be it needs to re-set/retrace for a while before resuming it's next leg long.
  • #2,324
  • Jun 19, 2008 9:07am Jun 19, 2008 9:07am
Anyone planning to take the ib that just formed?

Kind of late in the day, but within the prime daily trading hours.
  • #2,325
  • Jun 19, 2008 9:18am Jun 19, 2008 9:18am
Quoting RRothschild
Anyone planning to take the ib that just formed?

Kind of late in the day, but within the prime daily trading hours.
I'm going to put the buy order in and cacnel it if it is triggered by 11a EST. Doesn't look like it will be hit anyway.
  • #2,326
  • Jun 19, 2008 9:18am Jun 19, 2008 9:18am
usd/jpy not going anywhere
anybody else in this trade?
  • #2,327
  • Jun 19, 2008 9:20am Jun 19, 2008 9:20am
Quoting HUnter123
usd/jpy not going anywhere
anybody else in this trade?
Yes me
  • #2,328
  • Jun 19, 2008 9:56am Jun 19, 2008 9:56am
am sorry about my earlier alert. too early.


Chowclown: I am also a crazy admirer of stoch 833 but i have discovered that its reliability on 1hr is low and i have seen price move up like 60 pips when stoch is heavily ob.

But won't joke with stoch reading on 4hrs very reliable.

thanks
  • #2,329
  • Jun 19, 2008 10:08am Jun 19, 2008 10:08am
Quoting Naijafx
am sorry about my earlier alert. too early.


Chowclown: I am also a crazy admirer of stoch 833 but i have discovered that its reliability on 1hr is low and i have seen price move up like 60 pips when stoch is heavily ob.

But won't joke with stoch reading on 4hrs very reliable.

thanks
Hi NF, as we know there are many nuances to consider when trading with stochs, especially in OB territory. A good reason to considering ditching them in preference for Peter's simpler approach
  • #2,330
  • Jun 19, 2008 10:21am Jun 19, 2008 10:21am
That hit it. Free trading now.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,331
  • Jun 19, 2008 10:29am Jun 19, 2008 10:29am
Hi, anybody took the Long on the GU IB? it's on a daily trendline, my order was @ 1.9730.
Also took the GY IB break, but bailed out for +5, the beast make me nervous.
  • #2,332
  • Jun 19, 2008 10:32am Jun 19, 2008 10:32am
Quoting jarroo
That hit it. Free trading now.
for your patience.
  • #2,333
  • Jun 19, 2008 10:34am Jun 19, 2008 10:34am
Quoting HUnter123
for your patience.
Patience is also learned through practise.
Indicators show the past. Price Action "Indicates" the future.
  • #2,334
  • Jun 19, 2008 2:40pm Jun 19, 2008 2:40pm
Hi all,
A better day then yesterday!
Took the GU IB long at 11.00 BST, entered a buystop @ 1.9688, 30pip stop.
Two small lots, one at 1:1, other free to run.........was out for the day, came back at 7.00pm to see price around 1.9740 which is in the region of a long term down TL....so expecting a bounce down off that level, I moved the second stop up to 1.9730......which was taken out shortly after.
So, first PT gained 30 pips, second lot gained 42.
Attached Image (click to enlarge)
Click to Enlarge Name: GU1906.gif Size: 44 KB
  • #2,335
  • Jun 19, 2008 4:28pm Jun 19, 2008 4:28pm
Quoting ACartwright
NAL,

Could you possibly tell me what hot hand means?

I can not find a description!

Regards,

Al
Read all of PC's posts? It's not so hard to find... And do read them over and over again, you discover something new everytime.
  • #2,336
  • Jun 19, 2008 11:00pm Jun 19, 2008 11:00pm
Quoting hussin naiji
ya allah
hi jarroo
Hi hussin.
Indicators show the past. Price Action "Indicates" the future.
  • #2,337
  • Jun 20, 2008 12:14am Jun 20, 2008 12:14am
it's nice to see SKYLINE & Hussin Naiji here....
welcome bro!

i'm always in love with skyline ea masterpiece.
i cant wait for his ea on this IB method.....really awesome.

hussin Naiji, the master of daily chart pattern. love your post.

keep it up guys....yabedabedu......next IB is coming?
  • #2,338
  • Jun 20, 2008 1:09am Jun 20, 2008 1:09am
Ib on e/y. I missed it as I was out
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FF journal: Peaks and Troffs
  • #2,339
  • Jun 20, 2008 2:15am Jun 20, 2008 2:15am
Good morning all,

Anybody in UJ short? well let's see how it goes, if it will break the intra-day pivot.

happy pipping
  • #2,340
  • Jun 20, 2008 2:19am Jun 20, 2008 2:19am
Quoting Naijafx
Good morning all,

Anybody in UJ short? well let's see how it goes, if it will break the intra-day pivot.

happy pipping
...yes and free riding now, so it can do what it likes
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