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The DIBS Method... No Free Lunch continues

  • #2,461
  • Edited 4:44pm Jun 20, 2008 4:15pm | Edited 4:44pm
Quoting billbss
Then you have already backtested it!! You had to if you know it's profitable.

Publish your results and save me the trouble.
PC have used this for a long time and it works for him, so it's profitable. Now if you don't use it as he uses it how can you say that the system isn't profitable? No backtesting will do it in my eyes, because you don't know everything about his MM and his discretion.
  • #2,462
  • Jun 20, 2008 4:19pm Jun 20, 2008 4:19pm
Quoting billbss
I'm going to try to find out if it works this weekend.
I have a hunch it doesn't. I see too many full stop outs. With the MM method of scaling out 1/2 the trade at 1:1, it takes a sizable run to get back what is lost in the stop outs.

I like the idea of this, and I hope I'm wrong. I hope it's profitable.
If you are risking 1% for X pips, and you close 0,5% at 1:1, then the rest must reach double the risk for the entire trade to get 1% profit.
  • #2,463
  • Jun 20, 2008 4:21pm Jun 20, 2008 4:21pm
Quoting Naijafx
I really want to get this clear in respect to the USDJPY trade taken earlier today?


Are u saying when for instance a multiple trade is opened(whcih I do, wo multiple lot) when the first one closed at 1:1 rist to reward, the second trade should be left opened and closed based on discretion without moving the sl to break-even when the first trade closed

Just need some clarification here. am sorry for asking though, even if it sound childish, good to learn as a child too
I believe you are answering your own question
  • #2,464
  • Jun 20, 2008 4:23pm Jun 20, 2008 4:23pm
Quoting eltrader
Hey Nal dont go before explaining that bloody off side rule for me, was afraid to ask you during the week....!!??!!

Good to hear everyone on this thread has been onside these last few days, including myself i might add...! Keep up the good work guys, have great weekend everyone...!!!
I'm not following - what offside rule? Are we talking trading or football?
  • #2,465
  • Jun 20, 2008 4:24pm Jun 20, 2008 4:24pm
Quoting moneda
Hello,

I dont want to saturate you guys with my postings but I do have one specific questions....Please don't tell me to read the thread!...LOL. Ignore me if you are inclined to do so... Ok.. my question.. suppose we get an IB at the top of a trend (like the e/u atm) that has reach or exceed it its daily range... should we consider going in the opposite direction(correction) with the proper mm?


Thank You.
You could consider which side you want. If you want to do what PC does then you only buy if price is above the daily open. If you are looking to play reversals this is up to you but not a part of this system
  • #2,466
  • Jun 20, 2008 4:24pm Jun 20, 2008 4:24pm
Quoting NowAndLater
I'm late to the discussion and have just read through what I missed today and will give some inputs soon. Just a quick answer to this question: You don't close the remainder at 1600GMT, why would you do that? We are looking for runners here... Here's where you have to use your discression in how you trail this, but you'll never just close a trade. You let the trade run it's course.
I wouldn't do it in actual trading. When you're doing a backtest you have to have iron clad rules. If I used discretion in the backtest, it would be worthless. Discretion amounts to making the rules up as I go.

I don't care when they are closed, but for purposes of the test, there has to be a set method of closing them out.

Tell me what rule to use.
  • #2,467
  • Jun 20, 2008 4:26pm Jun 20, 2008 4:26pm
Quoting NowAndLater
PC have used this for a long time and it works for him, so it's profitable. Now if you don't use it as he uses it how can you say that the system isn't profitable? No backtesting will do it in my eyes, because you don't know anything about his MM.

I didn't say it wasn't profitable.
Read before posting.
  • #2,468
  • Jun 20, 2008 4:28pm Jun 20, 2008 4:28pm
Quoting billbss
1/2 of trade is closed at 1:1

remainder is closed out at 1600GMT, if not stopped out first.

Anything else?
As NAL says, the main reason DIBs works long haul, is the longevity of the free runners, so no time based closing on those, they get stopped out by the initial stoploss, at the opposite side of the IB (of origin).

For runners that are piling on the pips interday/week, Peter posted his use of the daily SMA(20) as a trailing tool....as one viable method of capturing longer term profits.
  • #2,469
  • Jun 20, 2008 4:30pm Jun 20, 2008 4:30pm
Quoting billbss
I wouldn't do it in actual trading. When you're doing a backtest you have to have iron clad rules. If I used discretion in the backtest, it would be worthless. Discretion amounts to making the rules up as I go.

I don't care when they are closed, but for purposes of the test, there has to be a set method of closing them out.

Tell me what rule to use.
No rules will do because no backtest will do, this is why we are practising this. So what we are doing is forward test. This is my opinion. Go ahead and do your backtest but I won't be interested because it won't tell me anything.
  • #2,470
  • Jun 20, 2008 4:31pm Jun 20, 2008 4:31pm
Quoting ChowClown
As NAL says, the main reason DIBs works long haul, is the longevity of the free runners, so no time based closing on those, they get stopped out by the initial stoploss, at the opposite side of the IB (of origin).

For runners that are piling on the pips interday/week, Peter posted his use of the daily SMA(20) as a trailing tool....as one viable method of capturing longer term profits.
Daily SMA 20? Then thats what I'll use. A close above/below? or a touch? Did he say?
I'll try to find his post where he said that.
  • #2,471
  • Jun 20, 2008 4:32pm Jun 20, 2008 4:32pm
Quoting billbss
I didn't say it wasn't profitable.
Read before posting.
No you didn't you had a hunch. Look brother please go ahead with your BT. I'm not saying what's right and wrong, just giving my opinion. GL with the BT mate.
Cheers
  • #2,472
  • Jun 20, 2008 4:33pm Jun 20, 2008 4:33pm
Quoting NowAndLater
No rules will do because no backtest will do, this is why we are practising this. So what we are doing is forward test. This is my opinion. Go ahead and do your backtest but I won't be interested because it won't tell me anything.
It's irrelevant to me whether you're interested.
I'll be posting the results here- just don't read them.
  • #2,473
  • Jun 20, 2008 4:34pm Jun 20, 2008 4:34pm
Quoting billbss
It's irrelevant to me whether you're interested.
I'll be posting the results here- just don't read them.
Please take it easy and read my last post.
  • #2,474
  • Jun 20, 2008 4:36pm Jun 20, 2008 4:36pm
Quoting billbss
Daily SMA 20? Then thats what I'll use. A close above/below? or a touch? Did he say?
I'll try to find his post where he said that.
He didn't say (again, from memory), but i will be using an open in the opposite direction....will be, as i have yet to have a decent runner ...early days for my live DIBs trading though
  • #2,475
  • Jun 20, 2008 4:43pm Jun 20, 2008 4:43pm
Quoting ChowClown
He didn't say (again, from memory), but i will be using an open in the opposite direction....will be, as i have yet to have a decent runner ...early days for my live DIBs trading though
I had one yesterday and today on cable. I closed it out this afternoon.
  • #2,476
  • Jun 20, 2008 4:45pm Jun 20, 2008 4:45pm
I want you guyz to ignore Billbss post regarding is backtest and let's do more profitable things.

He's here to dissuade newbies. he is confusionist! he's has done that in several threads.

NAL, thank for pointng me out to answering my question.

Next week is going to be a promising week for IB traders

stay blessed
  • #2,477
  • Jun 20, 2008 4:49pm Jun 20, 2008 4:49pm
Quoting billbss
I had one yesterday and today on cable. I closed it out this afternoon.
yes, i'm into the weekend with GU and AU runners, all being well i'll be able to use the daily MA trail into next week on those.
  • #2,478
  • Jun 20, 2008 4:51pm Jun 20, 2008 4:51pm
Quoting Naijafx
I want you guyz to ignore Billbss post regarding is backtest and let's do more profitable things.

He's here to dissuade newbies. he is confusionist! he's has done that in several threads.

NAL, thank for pointng me out to answering my question.

Next week is going to be a promising week for IB traders

stay blessed
No I think he has every right to be sceptical, why would he just trust a method blindfold? I just think that the bt is too hard to do and the results will imo not be enough to use as a background for any valid discussion.
  • #2,479
  • Jun 20, 2008 5:25pm Jun 20, 2008 5:25pm
I see repetative posts on; "If it Breaks Short In a Bullish Trend/Long in a Bearish Trend" Should I take it?

I don't Code MT4 but I am sure the Daily Range Ind. is available.

Just a matter of determining...
Trend:=
If Close =~ Yesterday's Close +DR, Trend = UP
,If Close =~ Yesterday's Close -DR, Trend = DN
,Else Trend = "Channel";
G-- Forbid but you may actually want to implement a Short Period MA on this to Indicate Trend.

Cross reference these results across pairs to find ""The Hot Hand""


ps. House: Carefull there my friend, Your Brit education is showing. {An} Herculean Task
BMc
  • #2,480
  • Jun 20, 2008 5:46pm Jun 20, 2008 5:46pm
Quoting Naijafx
I want you guyz to ignore Billbss post regarding is backtest and let's do more profitable things.

He's here to dissuade newbies. he is confusionist! he's has done that in several threads.

NAL, thank for pointng me out to answering my question.

Next week is going to be a promising week for IB traders

stay blessed
Those who know their God shall be strong, they shall do exploits
Is it just me or does anyone else see a contradiction, not only between the Post & Siggy but in the signature itself. I wonder, Whome did G-- Exploit?

I Just know this is a bad idea but I won't sit & see Billbss slandered without a response.

I Stand!

...
The King James Version brought in a word for this verse that was not in the Original. . . the people that do know their God shall be strong, and do (exploits). The verse should end simply with do. It is from the Hebrew word gahsah which means "to work, to make, to produce, to acquire, to accomplish, to perform, to function." In all the efforts of the anti-Christ to stop them, here is a people who carry on and on with life, while every natural resource for them has come to its end. Their secret is they do know their God. This is another mark of a person in Christ's Kingdom.
http://www.maschil.com/Maschils/DANIEL_01_Babylon.htm
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