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The DIBS Method... No Free Lunch continues

  • #2,681
  • Jun 23, 2008 11:22pm Jun 23, 2008 11:22pm
Quoting Scot Pippin'
I was short swissy and yen off the 05 GMT
So was i...!?
  • #2,682
  • Edited 11:40pm Jun 23, 2008 11:22pm | Edited 11:40pm
Quoting Scot Pippin'
I was short swissy and yen off the 05 GMT
That's fine Scot, small loses will ocurr. Now you can stop and reverse those pairs and see where they go. If it stops you out again, you may want to stop on those pairs for the day. But the main point is that your losses will be very small. It's not a big deal.
Indicators show the past. Price Action "Indicates" the future.
  • #2,683
  • Jun 23, 2008 11:24pm Jun 23, 2008 11:24pm
Looks like SAR on usdchf failed too.....a tricky one today. Just watching at the mo'.

Well done everyone yesterday.....was away from my computer so could not trade.
  • #2,684
  • Jun 23, 2008 11:25pm Jun 23, 2008 11:25pm
Im not sweating it, yesterday was alot of fun had some nice trades. Those pairs just seem to be whipsawing right now.
"Whether you think you can or can't, you're right." Henry Ford
  • #2,685
  • Jun 23, 2008 11:32pm Jun 23, 2008 11:32pm
Quoting Scot Pippin'
Im not sweating it, yesterday was alot of fun had some nice trades. Those pairs just seem to be whipsawing right now.
I bet you, these brokers know we are trading DIBBS. Thats why they are whipsawing us. But we shall win
  • #2,686
  • Jun 23, 2008 11:33pm Jun 23, 2008 11:33pm
Usd/Cad looks like it came close to being stopped out.(can't really tell, not looking at my regular charts). IB was at 0000 EST off the Open.
Indicators show the past. Price Action "Indicates" the future.
  • #2,687
  • Jun 23, 2008 11:38pm Jun 23, 2008 11:38pm
Quoting razldazl
hi all,
looks like aussie and cable are the hotties today, a good strategy could be wait for the trend to establish itself ie today long cable aussie, and then look for entries on lower tfs ...cable had an IB on 30m from 1.9646ish, and aussie showed at tbh at 0.9518, so could be nice entries if we pulled back there, just an idea though. Any comments? Raz
Not a bad idea razl. Just be aware that the 30 min may give more whipsaws. Althought the losses will be smaller. Something to definitely look into.
Indicators show the past. Price Action "Indicates" the future.
  • #2,688
  • Jun 23, 2008 11:41pm Jun 23, 2008 11:41pm
i went long for cable and eurusd, based on 4 hour charts IB gmt 2000 hours. its a free trade now.

being very cautious though.
  • #2,689
  • Jun 23, 2008 11:45pm Jun 23, 2008 11:45pm
my euro trades stopped out for nice profits set a buy stop on GBP/JPY 4hr before going to bed. Just got back from the day job and am up +75! I could have got an even better entry on the next bar AND could have also traded the 2bar high to add to the position (if i'd been around) AND could have even traded the 1am and 3 am hourly DIBS (using 000GMT as the day's open which is plausible given that it's a yen pair.........!

easy pipping!

edit: forgot to mention that half the trade exited for 1:1 or +76
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  • #2,690
  • Jun 23, 2008 11:47pm Jun 23, 2008 11:47pm
Quoting jarroo
Usd/Cad looks like it came close to being stopped out.(can't really tell, not looking at my regular charts). IB was at 0000 EST off the Open.
I was waiting for a break of pivot and trendline before i entered short on usd/cad. Well we will see......
  • #2,691
  • Jun 23, 2008 11:50pm Jun 23, 2008 11:50pm
Still long on UsdJpy here, didn't get stopped out. Anybody else went long on UJ today?

Wish everyone some good pips today
  • #2,692
  • Jun 23, 2008 11:51pm Jun 23, 2008 11:51pm
wow.. lots of visitors in thread too..
  • #2,693
  • Jun 23, 2008 11:52pm Jun 23, 2008 11:52pm
E/J 4hr IB break screaming away riding the uptrend...
  • #2,694
  • Jun 23, 2008 11:55pm Jun 23, 2008 11:55pm
Quoting WilteredFire
Still long on UsdJpy here, didn't get stopped out. Anybody else went long on UJ today?

Wish everyone some good pips today
Oh, I see . . . you waited untill the open to take the IB. Some (like me) were taking the break (top and/or bottom) before the Open. Duhh . . on my part.

Nice Wil.
Indicators show the past. Price Action "Indicates" the future.
  • #2,695
  • Jun 23, 2008 11:56pm Jun 23, 2008 11:56pm
Quoting Trumpcard
my euro trades stopped out for nice profits set a buy stop on GBP/JPY 4hr before going to bed. Just got back from the day job and am up +75! I could have got an even better entry on the next bar AND could have also traded the 2bar high to add to the position (if i'd been around) AND could have even traded the 1am and 3 am hourly DIBS (using 000GMT as the day's open which is plausible given that it's a yen pair.........!

easy pipping!

edit: forgot to mention that half the trade exited for 1:1 or +76

You the man Trump.
Indicators show the past. Price Action "Indicates" the future.
  • #2,696
  • Jun 23, 2008 11:58pm Jun 23, 2008 11:58pm
Quoting jarroo
Oh, I see . . . you waited untill the open to take the IB. Some (like me) were taking the break (top and/or bottom) before the Open. Duhh . . on my part.

Nice Wil.
No wait . . . you took the 2100 EST IB?
Indicators show the past. Price Action "Indicates" the future.
  • #2,697
  • Jun 24, 2008 12:06am Jun 24, 2008 12:06am
Hello,

The only IB according to PC that we have so far with the majors is the U/J. The best strategy during this period of indecision is to wait .. it has created a support and resistance zone that sooner or later will show it true intentions.....look at the other majors for clues..keep an eye on the news.. etc. Your stop loss is relatively small but you can get whipsawed for a while...it is better to get in a little late and loose some initial pips than being bounced around which can cause us to loose focus and let our emotions take over. These is what I am thinking atm... just sharing
Unus pro omnibus, omnes pro uno
  • #2,698
  • Jun 24, 2008 12:10am Jun 24, 2008 12:10am
thanks Jim, you set the standard in here as far as I'm concerned with your dedication to DIBS!
  • #2,699
  • Jun 24, 2008 12:11am Jun 24, 2008 12:11am
Free Ride on Swiss Express..I want my money back!
"Whether you think you can or can't, you're right." Henry Ford
  • #2,700
  • Jun 24, 2008 12:18am Jun 24, 2008 12:18am
Still sitting on my itching hands...

Not liking the way it's moving today... I'll wait for a better definition. Possibly leaving some pips on the table to you fellows, but taht's OK, they are not mine anyway...

Good trading to all!

Cheers!

HT
Many share my views with me. But I don't share them with them...
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