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The DIBS Method... No Free Lunch continues

  • #2,901
  • Jun 25, 2008 3:18am Jun 25, 2008 3:18am
Quoting TSK
Hi Scot

you are referring to ib at gmt 1 for eu and gmt 3 for au?

Oh yes....I see it now...did not go back far enough

Thanks
Unus pro omnibus, omnes pro uno
  • #2,902
  • Jun 25, 2008 3:22am Jun 25, 2008 3:22am
Quoting moneda
Hey SP...at what time do you show an IB for the e/u?
01,02, and 04 were all inside the 00 GMT on EU

then AU had 02,03,04 inside 00 GMT
"Whether you think you can or can't, you're right." Henry Ford
  • #2,903
  • Jun 25, 2008 3:23am Jun 25, 2008 3:23am
Quoting Alberto_Jazz
Hi all, today is very nice for DIBS traders...

Short setup GBP_USD
Long setup EUR_CHF, USD_CAD, USD_JPY
Dont see the Short on Cable Al...???
  • #2,904
  • Jun 25, 2008 3:26am Jun 25, 2008 3:26am
Quoting Scot Pippin'
01,02, and 04 were all inside the 00 GMT on EU

then AU had 02,03,04 inside 00 GMT


Thanks
Unus pro omnibus, omnes pro uno
  • #2,905
  • Jun 25, 2008 3:39am Jun 25, 2008 3:39am
Jarro, on a slight different subjects, what do you think of these?
weekly and daily IB's on e/$, GB/$, $/chf and almost 2 identical daily IB's on GB/chf
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  • #2,906
  • Jun 25, 2008 3:52am Jun 25, 2008 3:52am
Quoting judith
Jarro, on a slight different subjects, what do you think of these?
weekly and daily IB's on e/$, GB/$, $/chf and almost 2 identical daily IB's on GB/chf
Nice work Judith, interesting alright...!
  • #2,907
  • Jun 25, 2008 3:54am Jun 25, 2008 3:54am
This is my first time playing with excel and here's my first stab at it. I think it's pretty damn good lol. you will need to go to MT4 and Tools/Options/Server Tab... click on enable DDE server(this allows live data exporting). then make sure mt4 is opened up and running, open excel sheet I sent you and allow macros and then click the update box that appears, There are 3 pages to this, you will see as you go thru them, we are adding a 4th page but next version. You can click between pages down at the bottom left corner of excel. Your the first to see this hope you like it, I have never seen anything quite like it before(close but a little different take on things). Only 6 currency's running right now, started with 20 it was a mess and I only personally trade these 6. Would love your thoughts on this. I'm offering this freely, please know I don't have time to customize it for everybody here. If you want different currency's please learn a little basic excel and add all that you want. Any thoughts on added features is fine, But please PM them to me, Do not want to add 20 post to this thread that are off topic. Thanks for everything Guys and this is my way of trying to give something back.
Attached File(s)
File Type: xls Currency Info & Position Size.xls   73 KB | 698 downloads
  • #2,908
  • Jun 25, 2008 4:06am Jun 25, 2008 4:06am
Hi Jaroo

Quoted from PC :
Yes, at this point I am looking to buy above an inside hourly bar where the breakout point is above yesterday's close (and today's open) or sell below the low of an hourly inside bar below the open of today

Do you use this to determine daily "up" or "down"?

Thanks!
  • #2,909
  • Jun 25, 2008 4:06am Jun 25, 2008 4:06am
Quoting judith
Jarro, on a slight different subjects, what do you think of these?
weekly and daily IB's on e/$, GB/$, $/chf and almost 2 identical daily IB's on GB/chf
They look very tradable judith. Sorry I can't look at my regular charts right now. But I would look at the Weekly and look for PPZs (S/R levels), I know you know what they are, I seen you in the James16 thread.

Looking for supporting confluences that are discussed in the James16 chart thread would apply here. Looking at trendlines, S/R, Levels, Fib Levels, etc., that would help indicate a direction of where to take the break of the IB.
Indicators show the past. Price Action "Indicates" the future.
  • #2,910
  • Jun 25, 2008 4:08am Jun 25, 2008 4:08am
Quoting TSK
Hi Jaroo

Quoted from PC :
Yes, at this point I am looking to buy above an inside hourly bar where the breakout point is above yesterday's close (and today's open) or sell below the low of an hourly inside bar below the open of today

Do you use this to determine daily "up" or "down"?

Thanks!
Yes. Yesterday's Close and today's Open is the same Price. This is our line in the sand.
Indicators show the past. Price Action "Indicates" the future.
  • #2,911
  • Jun 25, 2008 4:10am Jun 25, 2008 4:10am
Quoting TSK
Hi Jaroo

Quoted from PC :
Yes, at this point I am looking to buy above an inside hourly bar where the breakout point is above yesterday's close (and today's open) or sell below the low of an hourly inside bar below the open of today

Do you use this to determine daily "up" or "down"?

Thanks!
Oh, you mean the prior day's Close (yesterday's Close) in relation to today's Open to indicate an up or down day. Peter mentions this but I haven't looked in to it much. (Maybe I should start).
Indicators show the past. Price Action "Indicates" the future.
  • #2,912
  • Jun 25, 2008 4:14am Jun 25, 2008 4:14am
Quoting jarroo
Oh, you mean the prior day's Close (yesterday's Close) in relation to today's Open to indicate an up or down day. Peter mentions this but I haven't looked in to it much. (Maybe I should start).
i would think peter is referring to 6gmt open(2day) yesterdays close would be 5gmt close
i not to sure but see what u guys think
Survive & Preserve
  • #2,913
  • Jun 25, 2008 4:14am Jun 25, 2008 4:14am
3.00 GMT and 7.00 GMT inside bar on GBP_USD, exit take profit on 8.00 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 18 KB
  • #2,914
  • Jun 25, 2008 4:20am Jun 25, 2008 4:20am
Good day all,

i have a question concerning a 4hr IB trade that i took last nite on GU.

Here is my reason for taking it.

The weekly opening was below the price where IB broke out, so I took short. i have covered my 1:1 and the second is still running.


I wanted to ask if I did the right thing base on PC on it was just a fluke.


Any help will be appreaciated
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
  • #2,915
  • Edited 4:39am Jun 25, 2008 4:21am | Edited 4:39am
Quoting Alberto_Jazz
3.00 GMT and 7.00 GMT inside bar on GBP_USD, exit take profit on 8.00 GMT

Nice chart Al.

To mention the "up or "down" of the day by looking at Al's chart ;
Today's Open is higher then yesterday's close (prior day's close). So, we should have been looking for price moving "up" today? This is how I understand it.
Indicators show the past. Price Action "Indicates" the future.
  • #2,916
  • Edited 4:34am Jun 25, 2008 4:22am | Edited 4:34am
Hi folks,

I have battled my way through almost all the posts from the very start of this thread and the previous one inspired by PC. Thanks to all who have contributed so much! Sadly, as in all forums, it is littered with the inane questions of the freeloaders too lazy to do the work. I know what will happen to their trading accounts. Very sad and highly annoying to everyone. I personally think they should simply be ignored until they grow up.

I have tried the DIBS method very successfully over the past few days and the few losses I have incurred have been self induced by either bending the rules or errors on my trading platform which I am struggling to get a handle on. But I am a convert and think the method is fantastic!

I would also like to thank the folks who posted some of the very useful MT4 scripts. In return for your generosity in sharing your ideas I offer a simple Java program I wrote some time back to aid me in identifying market hours. Unlike the web based Java Script sites that don't account for daylight savings, this little baby should take care of that automatically. To the newbies it is essential to get your head around the fact that there is no "Official" opening time for the FX markets. Traders and banks worldwide seem to fire up around certain times and go home to the wife and kids more or less on schedule, but it is not cast in stone. Please use my little program with that in mind. It is a guide to when the action could show a change of pace. The screenshot is from an earlier version but the attached program shows both GMT and EST on the top line. Enjoy!

Personally I am on the sidelines at the moment as I think the market is way too uncertain pending the FOMC announcement later today. Good luck to all and I hope to keep in touch fairly regularly with this incredible group of people who have kept this concept rolling.
Attached Image
Attached File(s)
File Type: zip FxTimes.zip   150 KB | 745 downloads
Never argue with a fool....
  • #2,917
  • Jun 25, 2008 4:22am Jun 25, 2008 4:22am
Quoting jarroo
Oh, you mean the prior day's Close (yesterday's Close) in relation to today's Open to indicate an up or down day. Peter mentions this but I haven't looked in to it much. (Maybe I should start).
definitely missed your calling
  • #2,918
  • Jun 25, 2008 4:26am Jun 25, 2008 4:26am
Quoting Alberto_Jazz
3.00 GMT and 7.00 GMT inside bar on GBP_USD, exit take profit on 8.00 GMT
Oh you were refering to the one that broke at 7 am, I thought you were saying there was one setting up recently... My mistake...
  • #2,919
  • Jun 25, 2008 4:30am Jun 25, 2008 4:30am
Quoting Alberto_Jazz
3.00 GMT and 7.00 GMT inside bar on GBP_USD, exit take profit on 8.00 GMT
Can you please post that Indictor here ... I think I have a different version
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #2,920
  • Jun 25, 2008 4:37am Jun 25, 2008 4:37am
Quoting Naijafx
Good day all,

i have a question concerning a 4hr IB trade that i took last nite on GU.

Here is my reason for taking it.

The weekly opening was below the price where IB broke out, so I took short. i have covered my 1:1 and the second is still running.


I wanted to ask if I did the right thing base on PC on it was just a fluke.


Any help will be appreaciated
I think you applied the DIBS to the Weekly correctly. Meaning the DIBS is Daily Open to the Hourly IB. Make sense to apply the Weekly Open to the 4 hour IB. And maybe the Monthly Open to the Daily IB.

But as we get to higher time frames, other factors may effect Price, i.e. Swing High and Swing Lows, trendlines, S/R level, etc. Its worth looking into more deeply.

Nice job Naija.
Indicators show the past. Price Action "Indicates" the future.
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