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The DIBS Method... No Free Lunch continues

  • #3,021
  • Jun 25, 2008 7:46pm Jun 25, 2008 7:46pm
Quoting NowAndLater
To me this gives more powerfull breaks and an IB here is nice to see.
Nice post, NAL... that's what DIBS is about... solid breakouts! As Peter said... not all breakouts are the same....

Hey, I got your diagnosis..., may I? you're addicted to DIBS! (so am I...) You told that you'd be away for some time and here we are... (Not complaining at all... nice to see the gang around!)

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,022
  • Jun 25, 2008 8:37pm Jun 25, 2008 8:37pm
I have been reading the post and watching and this system has the simplicity that I like. Could somebody answer one small question. When the IB occurs, do we wait for the breakout to occur above (for a long) the inside bar, preceding bar or enter on the open of the candle after the inside bar provided it is higher than the days open. It is just the point of entry that has me slightly confused. Hope my question makes sense. Also, I am in Western Australia so GMT for me is 8.00am in the morning and the opening of Frankfurt is at 2.00pm (user friendly hours). Is the suggestion that we should not really bother with anything before about 0500 GMT.

Thanks in anticipation
  • #3,023
  • Jun 25, 2008 8:43pm Jun 25, 2008 8:43pm
Quoting aajduk
I have been reading the post and watching and this system has the simplicity that I like. Could somebody answer one small question. When the IB occurs, do we wait for the breakout to occur above (for a long) the inside bar, preceding bar or enter on the open of the candle after the inside bar provided it is higher than the days open. It is just the point of entry that has me slightly confused. Hope my question makes sense. Also, I am in Western Australia so GMT for me is 8.00am in the morning and the opening of Frankfurt is at 2.00pm (user friendly hours). Is the suggestion that we should not really bother with anything before about 0500 GMT.

Thanks in anticipation
The inside bar provides the high and low which will be the trigger price for long or short eventually, according to its relationship with the open price.

If the inside bar range is both above and below the open price, we will have a long or short potential.

If the inside bar range is above the open price, we will be opening only longs, from its high (plus spread plus 1 pip filter, etc.).

If the inside bar range is below the open price, we will be opening only shorts, from its low.

Open price is indeed at 6:00 GMT though some are taking 5:00 GMT.
  • #3,024
  • Jun 25, 2008 8:57pm Jun 25, 2008 8:57pm
6:00GMT is the start of the Asian session, am I right? That's perfect! We are predicting the asian high and the asian low before we even start the asian session.
  • #3,025
  • Jun 25, 2008 9:00pm Jun 25, 2008 9:00pm
Thanks very much,

That is what I suspected, thanks for the confirmation.

Regards.
  • #3,026
  • Jun 25, 2008 9:16pm Jun 25, 2008 9:16pm
Quoting Vfforexlee
6:00GMT is the start of the Asian session, am I right? That's perfect! We are predicting the asian high and the asian low before we even start the asian session.
Nah bro, 6am GMT is nearing the end of the Asian Session. 6am GMT is 3 hrs prior to the london session.
"If it bleeds ... we can kill it"
  • #3,027
  • Jun 25, 2008 9:16pm Jun 25, 2008 9:16pm
Quoting Vfforexlee
6:00GMT is the start of the Asian session, am I right? That's perfect! We are predicting the asian high and the asian low before we even start the asian session.

No. 6:00GMT is 15:00 in Tokyo if I am correct.

6:00 GMT is the approximate start of the London session.
"Money is easy to make, but hard to keep" - FWV 1975
  • #3,028
  • Jun 25, 2008 9:23pm Jun 25, 2008 9:23pm
Download the applet at this link, it is a great desktop app to figure any time you need. Scroll down the page just a little you will see it.

www.forexmarkethours.com

get the V2.12 , it lets you display any time.

London open is 0800 GMT
  • #3,029
  • Jun 25, 2008 9:31pm Jun 25, 2008 9:31pm
Quoting NowAndLater
Just practice, practice and practise.
I'm new to the method and really like the simplicity and the logic (waiting for the market to catch it's breath before moving strongly). I did read that Peter Crown recognizes the difference between high probability IBs and low probability ones.

Can anyone provide insight on how to recognize those differences when we see an IB at the right hand side of the chart?

Thanks!!
  • #3,030
  • Edited 10:29pm Jun 25, 2008 9:41pm | Edited 10:29pm
Hi jarroo


Quoted from PC :
If you know what the opening price of the day (and the closing price of yesterday) is, you know at any moment if the price is "up" or "down" vs yesterday close


Any thought for this?
I am confused cos often or not i find the yesterday close is very very close to the today open? How i hope PC is around to carlify his definition of yesterday close and today open..

Any thought anyone?

TSK

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).
  • #3,031
  • Jun 25, 2008 10:17pm Jun 25, 2008 10:17pm
Quoting Vfforexlee
6:00GMT is the start of the Asian session, am I right? That's perfect! We are predicting the asian high and the asian low before we even start the asian session.
Sorry but you are wrong, 6 am GMT is NOT the start of the Asian session !
  • #3,032
  • Jun 25, 2008 11:06pm Jun 25, 2008 11:06pm
Anybody looking at uj...3 consectutive ibs...
  • #3,033
  • Jun 25, 2008 11:20pm Jun 25, 2008 11:20pm
Quoting TSK
Hi jarroo


Quoted from PC :
If you know what the opening price of the day (and the closing price of yesterday) is, you know at any moment if the price is "up" or "down" vs yesterday close


Any thought for this?
I am confused cos often or not i find the yesterday close is very very close to the today open? How i hope PC is around to carlify his definition of yesterday close and today open..

Any thought anyone?

TSK
Peter meant the prior day's close not yesterday's close. Yesterday's close and today's open are the same price. If they are not the same, blame bad demo data feed.
Indicators show the past. Price Action "Indicates" the future.
  • #3,034
  • Jun 25, 2008 11:43pm Jun 25, 2008 11:43pm
Hi Jarroo

Send you a pm...



Quoting jarroo
Peter meant the prior day's close not yesterday's close. Yesterday's close and today's open are the same price. If they are not the same, blame bad demo data feed.
  • #3,035
  • Jun 26, 2008 12:09am Jun 26, 2008 12:09am
Quoting TSK
Hi Jarroo

Send you a pm...

Here is what I sent TSK:

You would compare the prior day's close (the 24th) to today's open (26th). If the today's open (26th) is higher then the prior day's close (24th) then today is an "up" day and vise verca.

I haven't really been following this "indication", but it would ring true in a trending market.

Jim

(sorry I can't post a chart right now to show this more clearly)
Indicators show the past. Price Action "Indicates" the future.
  • #3,036
  • Jun 26, 2008 12:10am Jun 26, 2008 12:10am
Quoting TSK
Hi Jarroo

Send you a pm...
Apart from maintaining this thread as well as he does Jim has nothing but Time on his hands {although his regular day job has an efficient intercept}. Even though He is responding to requests {such as this but then again, I actually do not know what the request is as it is in PM Format}...

Please; give the guy a break: Jarroo I Mean:

As Newbs, you are proffered some leniency BUT, rest assured, Newbs are the the infection that will kill this {Money Making} Thread.

Yet again you are requested to Actually READ {not scan} BOTH Threads.
You want Money? Understandable. But What are you willing to do to get it?
If Your Answer is "Ask Somebody" then my answer would be...
"Stop Trading & Get a real job."

There is "NO Free Lunch" here.
  • #3,037
  • Jun 26, 2008 12:13am Jun 26, 2008 12:13am
Hello there.

Is anyone riding the Usd/Jpy sell dibs...?
  • #3,038
  • Jun 26, 2008 12:23am Jun 26, 2008 12:23am
Usd/Jpy short at 107.92 , SL 108.07, First 2/3 Take Profit at 107.77

Lets hope it will go at least to the first comming support area around 107.75
  • #3,039
  • Jun 26, 2008 12:26am Jun 26, 2008 12:26am
Quoting Bemac
Apart from maintaining this thread as well as he does Jim has nothing but Time on his hands {although his regular day job has an efficient intercept}. Even though He is responding to requests {such as this but then again, I actually do not know what the request is as it is in PM Format}...

Please; give the guy a break: Jarroo I Mean:

As Newbs, you are proffered some leniency BUT, rest assured, Newbs are the the infection that will kill this {Money Making} Thread.

Yet again you are requested to Actually READ {not scan} BOTH Threads.
You want Money? Understandable. But What are you willing to do to get it?
If Your Answer is "Ask Somebody" then my answer would be...
"Stop Trading & Get a real job."

There is "NO Free Lunch" here.
seconded
  • #3,040
  • Jun 26, 2008 12:27am Jun 26, 2008 12:27am
Quoting Bemac
Apart from maintaining this thread as well as he does Jim has nothing but Time on his hands {although his regular day job has an efficient intercept}. Even though He is responding to requests {such as this but then again, I actually do not know what the request is as it is in PM Format}...

Please; give the guy a break: Jarroo I Mean:

As Newbs, you are proffered some leniency BUT, rest assured, Newbs are the the infection that will kill this {Money Making} Thread.

Yet again you are requested to Actually READ {not scan} BOTH Threads.
You want Money? Understandable. But What are you willing to do to get it?
If Your Answer is "Ask Somebody" then my answer would be...
"Stop Trading & Get a real job."

There is "NO Free Lunch" here.

proffered: to present for acceptance; tender; offer. Oh . . . I see.

You want Money? Understandable. But What are you willing to do to get it?If Your Answer is "Ask Somebody" then my answer would be...
"Stop Trading & Get a real job."

Two laughs on that one.


Yeah, give that guy a break . . . . wait a minute . . . that's me.

I really don't mind helping, but yeah, taking the time to read the threads more the once, can only help you. Many of the answers one seeks, are right in the threads.
Indicators show the past. Price Action "Indicates" the future.
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