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The DIBS Method... No Free Lunch continues

  • #2,641
  • Jun 23, 2008 4:33pm Jun 23, 2008 4:33pm
Quoting NowAndLater
When you buy you have to add the spread. Same thing when you set the stoploss (since you are buying back after a sell).

I wasn't around FF today but I've been trading (less than usuall) and had a good day. Just in now to check up on the progress of the thread - great job today DIBS'ers! I will be on FF less time the coming two weeks and my trades will be less, so in the mean time hope you guys have a great time and when I do comeback fulltime I'll start to contribute to this great thread again.

To all new guys. Please read through the first post on this thread. It has all the information for you to get started, and do read the entire thread. But to start of focus on the first post and EVERYTHING there, make sure to not miss ANYTHING. It'll answer 99% of your answers.

Cheers
Good to see you around, my friend!

Take care, we'll be here kicking some a%#es whenever you come back!

Huh.... just one question, pleeeeeeease.... In this system we should only buy when the price is above the day's open??? And if it is below, should we ....huh.... sell???

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #2,642
  • Jun 23, 2008 4:38pm Jun 23, 2008 4:38pm
Quoting HouseTrader
Good to see you around, my friend!

Take care, we'll be here kicking some a%#es whenever you come back!

Huh.... just one question, pleeeeeeease.... In this system we should only buy when the price is above the day's open??? And if it is below, should we ....huh.... sell???

Cheers!

HT
Already seen some of these question going through todays posts, its a never-ending lovestory I guess... Cheers mate!
  • #2,643
  • Jun 23, 2008 4:44pm Jun 23, 2008 4:44pm
Quoting hxcjf
Hey guys, here are the DIBS setups I'll be looking for this week:

EUR/USD: Only trade long DIBS setups and with long term holding. DIBS often form at important levels of support and resistance, and I'll be watching for long DIBS setups at 1.5640, 1.5550, and 1.5500. 1:1 on half, let the other half ride. COT slightly bullish. EUR/USD is like a beach ball being held under water by mean reversion traders who just can't seem to believe that it could go any higher...watch them run for cover (literally) on the next challenge of 1.6000.

USD/CHF: Not the hot hand this week in my book. COT positioning is 1:2 long/short, which is against the long-term trend. This indicates a grinding medium term range unless some big news or risk aversion breaks it out. Might take nice tight DIBS exiting full position at 1:1 or 1:2 RR.

USD/JPY: The result of two awful central banks competing for Worst Monetary Policy award. COT is roughly 50:50 and price action is trapped in a slightly rising four hour channel and 1 hour falling channel. Keep any trades short term and tight.

and now...the HOT PAIR OF THE WEEK!

GBP/USD: Open up a daily chart and draw a trendline from the november high down to where we are now. Then make a horizontal line at 1.9400. If you don't start salivating immediately, maybe you should find another occupation, haha. We are trapped in a tightening wedge from 1.9400 to 1.9800. DIBS could work long or short here. We are at the top of the range, and DIBS could send us back to the bottom OR it could blast us through 1.9800. If that happens, grab something and hold on. If you can get a nice tight long DIBS entry at the top there...might be Christmas in July. I personally favor longs here. COT open interest is high, and there are twice as many shorts as longs. Break 1.9800...and there will be blood.

It's gonna be a great week! What are you guys looking for?
Loved this post, more of this if you may!
  • #2,644
  • Jun 23, 2008 5:19pm Jun 23, 2008 5:19pm
hey NowandLater, thanks for the info on the buy stop sell stop stuff, that helped

Wish you many happy pips.
  • #2,645
  • Jun 23, 2008 8:32pm Jun 23, 2008 8:32pm
Quoting hxcjf
Lux...

Hey, thanks for the indicator, its really helpful. I might be setting it up wrong, but it seems to update one bar after an inside bar is made. In other words, if 9:00-10:00 is an inside bar, then it will show the line at 11:00. Also, I can't seem to get the sound alert to work. Is anybody else having the same issue, or am I doing something wrong?

Caleb
Must admit I was having the same problem regarding the IB bar showing up one hour later on the indicator, so I went back to manual...if I can't see an inside candle I really need to see a specialist!

And great post earlier Caleb by the way with your weekly analysis of the pairs . I look forward to more...
  • #2,646
  • Jun 23, 2008 10:34pm Jun 23, 2008 10:34pm
Hy All...

Don't know if it's just me but I don't seem 2 get d hang of Lux's code. I also can't get d alarm 2 work, tryd thinnin d lines but they vanished altogether. Lux, believe u did a great job; anyone who can help should plz post something.

About d Skype: Good idea, really, but don't u guyz think it'll be better 2 focus? Anyone with info can post it here, as has always been done, and we'll all see, and reply.Chattin while trading could be distracting... trading is almost neva a group endeavour; I believe what we 've now is optimum.

Enjoy d day...
...learning Wisdom!!!
  • #2,647
  • Jun 23, 2008 11:58pm Jun 23, 2008 11:58pm
Is a new day dawning?
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  • #2,648
  • Jun 24, 2008 12:09am Jun 24, 2008 12:09am
sure is. But are those war ships on our side?
Quoting Pips_Cruiser
Is a new day dawning?
FF journal: Peaks and Troffs
  • #2,649
  • Jun 24, 2008 12:10am Jun 24, 2008 12:10am
i see $/cad and $/chf as possibles. Have decided to leave both for now.
FF journal: Peaks and Troffs
  • #2,650
  • Jun 24, 2008 12:11am Jun 24, 2008 12:11am
Quoting bogus
sure is. But are those war ships on our side?
Yep. They're searching for IB's.

  • #2,651
  • Jun 24, 2008 12:14am Jun 24, 2008 12:14am
Quoting Pips_Cruiser
Yep. They're searching for IB's.

FF journal: Peaks and Troffs
  • #2,652
  • Jun 24, 2008 12:17am Jun 24, 2008 12:17am
Here's what I've found so far. But I haven't taken any trades yet.
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  • #2,653
  • Jun 24, 2008 12:23am Jun 24, 2008 12:23am
I am south on both Yen and Swiss we shall see.
"Whether you think you can or can't, you're right." Henry Ford
  • #2,654
  • Jun 24, 2008 12:28am Jun 24, 2008 12:28am
I don't see the DIBS on the yen or the Aussie. If we are trading off the beginning of this hour that is.
FF journal: Peaks and Troffs
  • #2,655
  • Jun 24, 2008 12:32am Jun 24, 2008 12:32am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
Does anyone here get positive result with this method so far??? please share your result here......thanks
  • #2,656
  • Jun 24, 2008 12:32am Jun 24, 2008 12:32am
I show IB's at 03 and 04, but im a new guy

On the Yen that is.
"Whether you think you can or can't, you're right." Henry Ford
  • #2,657
  • Edited 12:39am Jun 24, 2008 12:37am | Edited 12:39am
Quoting bogus
I don't see the DIBS on the yen or the Aussie. If we are trading off the beginning of this hour that is.
Hiya,
I dont have aussie but the usdjpy ĪB was at 0500 gmt+1, which is tradeable as long as you use the right ¨line in the sand¨ ie this would be only shortable...at least thats how I understand it hehe, Raz,

PS I took the usdchf short from 1.0447 good luck all
Never say never.
  • #2,658
  • Jun 24, 2008 12:41am Jun 24, 2008 12:41am
Quoting bogus
I don't see the DIBS on the yen or the Aussie. If we are trading off the beginning of this hour that is.
Here's what I go by:

IB on which hour?
You can play an IB, be it at 5.00 GMT, 4.00 GMT, 3.00 GMT or even 2.00 GMT as long as it is off the Open of the Day, 6.00 GMT. Peter's charts show this.
  • #2,659
  • Jun 24, 2008 12:41am Jun 24, 2008 12:41am
Quoting 007
Does anyone here get positive result with this method so far??? please share your result here......thanks
Now I know what Peter was talking about.
Indicators show the past. Price Action "Indicates" the future.
  • #2,660
  • Jun 24, 2008 12:47am Jun 24, 2008 12:47am
My understanding of it is, if the previous bar to the open is an IB then it is tradable off the open.I take the open as that of the last hour, the same as PCs. Ill post some charts.
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FF journal: Peaks and Troffs
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