The DIBS Method... No Free Lunch continues

Quoting en0x

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I have read this and the previous thread now and I would like to say, we should get little arm bracelets that say, WWPCD , what would peter Crown do.
I just love the way he is referred to as some sort of higher being
God bless Peter Crown for giving us our daily DIBS.

This is meant to be taking as a joke. I have no intention of offending anyone, so if you are offended then get over it.

And on another note, thanks everyone for your efforts, I am new to this type of breakout so I am going to begin my adventure trading this coupled with my normal price trading methods.

Right, time to earn my way and make some mistakes , thank goodness for proper position sizing and risk management so I can afford to do some trial runs with a tiny size, who says size doesnt matter


I.PC.W.T

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Quoting ozziedave

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I am not sure why we keep getting the question about the start of the day time. The one constant in this equation is that 6:00 GMT never changes. The variables in the equation are your time zone, if you have daylight savings time and what your brokers time feed is. As I see it there are 3 possibilities for setting your start of day time.

1. Just find out what time on your trading platform corresponds to 6:00 GMT and adjust your start of day time on your trading platfoorm to reflect 6:00GMT.
2. Change the start of day time based on the London open, which is currently GMT +1. The big money doesn't start trading until the open of the Euro session (currently GMT +2) and really kicks in when London (GMT +1) comes on line. Keep in mind you may always have to adjust your trading platfrom due to it's time feed. For example, some platforms are always set at GMT +2.
3. Find a broker with a time feed that is GMT = 00:00 such as Interbank. So 6:00 GMT will always be 6:00GMT on your trading platform. Then you only have to adjust the time you sit in front of your computer based on daylight savings time.

Peter Crowns charts have a time feed of 00:00 CST/USA. When he wrote his posts 6:00GMT corresponded to 1:00CST/USA. So on his charts he would have had to adjust his start of day once per year to account for daylight savings time in the USA. The actual start of the 24 hour period on his charts (the time feed from his broker) never changes). The thing that changes is when he decides to start his trading day based on using 6:00GMT as the start of his day. I believe all of the options I have described will provide you with many chances to take quality DIBs trades. As PC himself said, if your an hour off due to daylight savings time it really won't matter that much. Let's face the fact that not everyone on this forum will choose the start of day time as 6:00GMT.

The only reason I have posted this is because I find reading the same question over and over again page after page distracts from overall quality of this thread. Can you image a teacher who every day would come into class and have to repeat everything he said on the first day of class. That would be really annoying to the teacher and the rest of the class. I don't think most of us mind answering questions but enoughs enough with the start of day time! It's been cover 20 times over in this theard. All you need to do is put in a few hours of your time and read the thread.

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Quoting cash4u2

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Hi guys,
have found an interesting threat here http://www.trade2win.com/boards/firs...tml#post436978.
That would be a great foundation for an EA ;-)

thx
cash4u2

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Quoting toddanderson

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It would help people, if excellent posts like yours where put in a pdf and attached to the first post of the thread.
Their is 200 pages on this thread and people like my self can get a little lost and confused after read page after page.

And I relies the same information is on the first post ,

my practice is when their is a pdf attached I print it and read later on my lunch time,plane or when ever.

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Quoting Bob76

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Good Trading Day To All.

I have read many posts and all the summary. The system i understand its just that i was wondering whats the core concept behind the DIBS setup.

I mean there are many people who trade this way specially with the cable. Like i have seen many breakout strategies that say a set amount of pips in relation to high and low of the previous day etc. And many are like that but every one has got a custom version of the breakout strategy but the main similarity between them is some defined number of pips to get the entry.

What is unique with DIBS is that it does not define a number of pips instead it waits for the dib setup, Now the question is Why.....?


What i have come to think of is that when this setup forms it means that the people are really undecisive of which way to go (Kind of a triangle formation) and when it is broken the probability is that the market has made up its mind for a certian direction.

The IB is basically the undecisiveness of the market....


Or may be i dont make any sense at all....

Bob76

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Quoting dan_mir

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Hi,
Here's my observation of the markets and the interpretation for the DIBS method:
EU: The angle from yesterday's open line to today's is UP 13 degrees, and from the day before it form an UP 19 degrees.
GU: The angle from yesterday's open line to today's is UP 26 degrees, and from the day before it form an UP 19 degrees.
Uch: The angle from yesterday's open line to today's is Down 22 degrees, and from the day before it form an Down 21 degrees.
UJ: The angle from yesterday's open line to today's is Down 26 degrees, and from the day before it form an Down 12 degrees.
GJ: The angle from yesterday's open line to today's is Down 8 degrees, and from the day before it form an UP 6 degrees.
EJ: The angle from yesterday's open line to today's is Down 20 degrees, and from the day before it form an UP 8 degrees.
So putting it all together, I think that I will trade EU - UP, GU - UP, Uch - Down, UJ - Down. I would not take GJ & EJ because the direction is not clear.
This is only the way I see it. Don't blindly follow me please.
Good day,
Dani M

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Quoting eltrader

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Oh Purleeeeeeesssseeee, enough already.... No wonder PC did a runner with all this gobeldee kook nonsense, if he's looking at this today he ll be crapping himself, for gods sake...JUST KISS...!!!!

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Quoting dan_mir

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Hi eltrader,
What a nice day, isn't it ?
I wish you a profitable day. Really, I do.
Dani M.
BTW, think about what PC said about "strength" and days he avoid certain pairs.

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Quoting Bemac

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Chemist or Engineer?

I.PC.W.T

Got me. What does the W.T represent?

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Quote

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I am riding the free train with the G/U based on the 3gmt IB. Anyone else sitting in the train with me?