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The DIBS Method... No Free Lunch continues

  • #2,561
  • Edited 6:20am Jun 23, 2008 3:56am | Edited 6:20am
Quoting orion70
Seems like this time issue is a problem in most every thread. I know it certainly confuses me!


If I am way off-base here, please let me know so we can put this to rest once and for all.
It ain't gonna happen -

see here -

http://damianarlyn.blogspot.com/2007...s-in-name.html

Read the lyrics to Windmills

how many traders are like that!

  • #2,562
  • Jun 23, 2008 3:58am Jun 23, 2008 3:58am
Aud, i think your right, thats why i asked for help, im confused even though i live in the UK.

and these market changes are driving me nuts, i remember some months ago there used to be nice moves during london, now it seems like everythings changing and moves are happening earlier and earlier. It really sucks.

Maybe if proper time clarifications were kept on post 1 of the thread along with the latest indicators all in post 1, would make it easier for new new people to the thread to understand things better.

Something that might help anybody: GMT stays at 0, it doesn't change when there are changes in Daylight Savings Time, London right now, is GMT +1, meaning our clocks here in local time are 1 hour ahead of official GMT time. So if as peter says the open he uses is 06:00gmt, that means its 7am according to the local UK time Maybe this might help somebody.
  • #2,563
  • Jun 23, 2008 4:01am Jun 23, 2008 4:01am
I do realize that 1 am est is two hours before the London open. I was just pointing out the opening time marked on P.C.'s charts. As far as 00:00 being referred to as the opening time, I believe that he is referring to 00:00 cst (U.S.) time. The Real Thing refers to this as the open time.
00:00 cst = 1 am est = 5 gmt. I hope this helps. http://www.forexfactory.com/images/icons/icon7.gif

Dave
  • #2,564
  • Jun 23, 2008 4:07am Jun 23, 2008 4:07am
note: In the winter 6 gmt = 1 am est = 00:00 cst.

According to P.C.'s charts, he is currently using 5 gmt/1 am est/ 00:00 cst for the summer hours. He probably always uses 00:00 cst as the open. The line on the charts does not lie. Check for yourselves. P.C.'s May 1 post.

Dave
  • #2,565
  • Edited 4:34am Jun 23, 2008 4:12am | Edited 4:34am
Hi,
Assuming I got Peter right, he sees the beginning of the day 2 hours before the London session begins, so if you have your FF time settings adjusted to your TZ, all you have to do is just click on the London link on the home page of FF and you will see exactly when it starts. Now you can do all the needed time offset calculations. (The session length is 9 hours).
BR
Dani M.
Attached Image
  • #2,566
  • Jun 23, 2008 4:59am Jun 23, 2008 4:59am
and off the 61 fib too
Attached Image
  • #2,567
  • Jun 23, 2008 5:07am Jun 23, 2008 5:07am
winter time cst 00:00 est 01:00 gmt 0600
summer time cst 00:00 est 01:00 gmt 0500

FROM 2007: Daylight Saving Time begins for most of the United States at 2 a.m. on the second Sunday of March. Time will revert to standard time at 2 a.m. on the first Sunday in November.

When is British Summer Time (BST) in force this year?

2008: Sunday 30 March 01:00 GMT - Sunday 26 October 01:00 GMT (02:00 BST)
What is the time in the UK now?

NB British Summer Time (BST) = Western European Summer Time


http://wwp.daylight-saving-time.com/usa/dst-2007.htm
http://wwp.britishsummertime.co.uk/
  • #2,568
  • Jun 23, 2008 5:11am Jun 23, 2008 5:11am
UJ and GU just signal for buy and short
  • #2,569
  • Jun 23, 2008 5:14am Jun 23, 2008 5:14am
Quoting billflet
Looks like we were on the right side of the news!


Bogus: I was just glancing at your profile at the very moment "Kentucky Rain" was playing.

Wow! we are not only riding free but are getting a Eurail pass to top it off..went back to sleep before the news....maybe I should go back to sleep more often!
Unus pro omnibus, omnes pro uno
  • #2,570
  • Jun 23, 2008 5:17am Jun 23, 2008 5:17am
Anyone maybe buying UJ if it breaks for a buy?
  • #2,571
  • Jun 23, 2008 5:47am Jun 23, 2008 5:47am
Quoting WilteredFire
Anyone maybe buying UJ if it breaks for a buy?
im in if it breaks, but there is some resistance at s1 pivot 107,89....
/kojak
  • #2,572
  • Jun 23, 2008 5:51am Jun 23, 2008 5:51am
Quoting Naijafx
UJ and GU just signal for buy and short

broda wait for a break,there is a pivot at these prices level on both currencies,happy trading
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,573
  • Jun 23, 2008 6:07am Jun 23, 2008 6:07am
Hi Guys

new to the site and wanted to say hello.

what TFs do you all find the best to trade ?

have understood correctly that the GMT 6am hourly candle is the price that sets the 'open' for the day..........whatever that candles opens at it only longs if above it and only shorts if below that price?
cheers
kim
  • #2,574
  • Jun 23, 2008 6:25am Jun 23, 2008 6:25am
We have a setup on the usd/cad, usd/jpy, and eur/jpy (which was already triggered short). The other two are still waiting on decision. Have a great trading week everybody and best of luck in your trades.

How's it goin Jim?
I dream, therefore I become.
  • #2,575
  • Jun 23, 2008 6:26am Jun 23, 2008 6:26am
Quoting kimmy
Hi Guys

new to the site and wanted to say hello.

what TFs do you all find the best to trade ?

have understood correctly that the GMT 6am hourly candle is the price that sets the 'open' for the day..........whatever that candles opens at it only longs if above it and only shorts if below that price?
cheers
kim
Hey Kimmy welcome aboard... You have it in one...!
  • #2,576
  • Jun 23, 2008 6:28am Jun 23, 2008 6:28am
Quoting kimmy
Hi Guys

new to the site and wanted to say hello.

Welcome to FF!

what TFs do you all find the best to trade ?

Other than dibs, IMO, longer timeframes with price action is the easiest way to make profit.

have understood correctly that the GMT 6am hourly candle is the price that sets the 'open' for the day..........whatever that candles opens at it only longs if above it and only shorts if below that price?

Yep. your spot on Kim.

cheers
kim
.
I dream, therefore I become.
  • #2,577
  • Jun 23, 2008 6:28am Jun 23, 2008 6:28am
Quoting mike w
We have a setup on the usd/cad, usd/jpy, and eur/jpy (which was already triggered short). The other two are still waiting on decision. Have a great trading week everybody and best of luck in your trades.
Mike in the HOUSE!

What's up Mike?
Indicators show the past. Price Action "Indicates" the future.
  • #2,578
  • Jun 23, 2008 6:29am Jun 23, 2008 6:29am
Quoting kimmy
Hi Guys

new to the site and wanted to say hello.

what TFs do you all find the best to trade ?

have understood correctly that the GMT 6am hourly candle is the price that sets the 'open' for the day..........whatever that candles opens at it only longs if above it and only shorts if below that price?
cheers
kim
Kim

There are no shortcuts to this method. Please read the thread from start to finish, all your questions will be answered. In terms of time frames PC advocates 1 hr, but of course people have varied this approach using 15 mins, and 4 hour. The main thing is not to add a load of indicators and keep it simple. good trading.


fortune favours the brave!
  • #2,579
  • Jun 23, 2008 6:29am Jun 23, 2008 6:29am
Already triggered
Attached Image
Regards
  • #2,580
  • Jun 23, 2008 6:31am Jun 23, 2008 6:31am
Quoting kimmy
Hi Guys

new to the site and wanted to say hello.

what TFs do you all find the best to trade ?

have understood correctly that the GMT 6am hourly candle is the price that sets the 'open' for the day..........whatever that candles opens at it only longs if above it and only shorts if below that price?
cheers
kim
Hi kimmy, if I've got this right then the opening prices today at the bar starting at 06.00 gmt are

Quote
gbpusd = 1.9718
usdjpy = 1.0745
eurusd = 1.5592
usdchf = 1.0374

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