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Attachments: The DIBS Method... No Free Lunch continues
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The DIBS Method... No Free Lunch continues

  • #3,201
  • Jun 27, 2008 9:46am Jun 27, 2008 9:46am
Quoting Trumpcard
congrats CC! My entry was a little higher 1.9888 (high of 1.9883 +1 +spread) TP1 at 1.9924. Next resistance is at 1.9964...
Right there with you!
  • #3,202
  • Jun 27, 2008 9:48am Jun 27, 2008 9:48am
Go Cable GO......!!!!!!!!!!!!!!
  • #3,203
  • Jun 27, 2008 9:48am Jun 27, 2008 9:48am
Quoting summitfx
How do you DIBbers monitor for IB's. Are you using an indicator or manually looking over charts at the top of the hour. What's working?

Thanks in advance for your ideas!
Somewhere in the 'Attachments' portion of the thread there is an indicator for MT4 which will paint inside bars. It's called in&out. It doesn't get matching highs and lows though, and we count those too.
  • #3,204
  • Jun 27, 2008 9:51am Jun 27, 2008 9:51am
Thanks~ I clicked the paper clip in the top right and there it was~


Quoting Archiphage
Somewhere in the 'Attachments' portion of the thread there is an indicator for MT4 which will paint inside bars. It's called in&out. It doesn't get matching highs and lows though, and we count those too.
Trade what you see - Not what you think
  • #3,205
  • Jun 27, 2008 9:53am Jun 27, 2008 9:53am
Looks like another beating in the making for US equities. (Not that they don't richly deserve it.)
  • #3,206
  • Jun 27, 2008 9:56am Jun 27, 2008 9:56am
Excellent trade on the GBPJPY trade. I was on it all last night because of the IB formed below the open line and shorted it before the 6GMT bar and set a stoploss after the 6GMT bar was formed. I used extreme lots on this trade because of the narrow stoploss and it was wonderful. Price took off and profit sure does look like I don't have to trade today.
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  • #3,207
  • Jun 27, 2008 9:57am Jun 27, 2008 9:57am
Quoting Archiphage
Somewhere in the 'Attachments' portion of the thread there is an indicator for MT4 which will paint inside bars. It's called in&out. It doesn't get matching highs and lows though, and we count those too.
We do count matching highs and lows?...
  • #3,208
  • Jun 27, 2008 10:03am Jun 27, 2008 10:03am
Quoting jarroo
I like this trade Epip. If you know about Pin Bars, from the James16 Chart Thread, there is a nice one forming on the Weekly. Looks like it will be confirmed at the close of the day. Could be a long way down for the EJ.

I will be looking for DIBS trades next week on the downside for this pair.

Just some PA thoughts.

Jim

Oh yeah . . . Welcome aboard.
Nice call on that Pin set up J...! Shall be watching that one all right...!
  • #3,209
  • Jun 27, 2008 10:05am Jun 27, 2008 10:05am
Quoting Vfforexlee
We do count matching highs and lows?...
Many of us do. The idea is a breakout of a consolidation range. When that matching low/high breaks, it just means that some bank's big old limit order has been filled and the way down/up is now clearer with more supply/demand right behind you pushing you into profits. I can think of no good reason not to want to be in that position.
  • #3,210
  • Jun 27, 2008 10:10am Jun 27, 2008 10:10am
Quoting Archiphage
Many of us do. The idea is a breakout of a consolidation range. When that matching low/high breaks, it just means that some bank's big old limit order has been filled and the way down/up is now clearer with more supply/demand right behind you pushing you into profits. I can think of no good reason not to want to be in that position.
So do we count DBHLC, DBLHC, and Pinocchio?
  • #3,211
  • Edited 10:20am Jun 27, 2008 10:15am | Edited 10:20am
cable free trade now - while I was collapsed on my sofa with beer and chicken! aahhhh yeahh!

euro coiling up - I4B on 1hr buystop at 1.5759
  • #3,212
  • Jun 27, 2008 10:15am Jun 27, 2008 10:15am
Quoting Vfforexlee
So do we count DBHLC, DBLHC, and Pinocchio?
If I recall correctly, those are all reversal trades where you're entering on retraces. The DIBS trade is a trend following breakout idea, where the best trades offer no retracement at all. Those other patterns are great to keep an eye on though. Not all inside bars are created equal.
  • #3,213
  • Jun 27, 2008 10:20am Jun 27, 2008 10:20am
Yeah, there is a reversal sign going on at USDJPY. Do you want to confirm?

EDIT:Love that quote: Not all Inside Bars are created equal.
  • #3,214
  • Jun 27, 2008 10:21am Jun 27, 2008 10:21am
Quoting Trumpcard
cable free trade now - while I was collapsed on my sofa with beer and chicken! aahhhh yeahh!
...like your style, TC.
  • #3,215
  • Jun 27, 2008 10:22am Jun 27, 2008 10:22am
Quoting Vfforexlee
Yeah, there is a reversal sign going on at USDJPY. Do you want to confirm?

EDIT:Love that quote: Not all Inside Bars are created equal.
Which timeframe?
  • #3,216
  • Jun 27, 2008 10:26am Jun 27, 2008 10:26am
Quoting Archiphage
Which timeframe?
1 hr TF. Well, actually, I see a double bar high with a lower close, so I'm suggesting shorting this one? Since it is below daily open.

EDIT:However, a double bar low with a higher close could be forming right now at 1 hr.
  • #3,217
  • Jun 27, 2008 10:28am Jun 27, 2008 10:28am
Quoting Trumpcard
cable free trade now - while I was collapsed on my sofa with beer and chicken! aahhhh yeahh!

euro coiling up - I4B on 1hr buystop at 1.5759


that's not fair... almost going to my afternoon shift...

Maybe someday I'll get there....

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,218
  • Jun 27, 2008 10:33am Jun 27, 2008 10:33am
Quoting Vfforexlee
1 hr TF. Well, actually, I see a double bar high with a lower close, so I'm suggesting shorting this one? Since it is below daily open.

EDIT:However, a double bar low with a higher close could be forming right now at 1 hr.
I don't see a short here as high-probability. I am short this pair, but from 107.84. I do see the previous 1hr bar as a bearish engulfing bar... but this pair has come so far, so fast, and we're 30 mins from London close on a Friday. I'd skip it. If I couldn't help myself, I'd put on a really small position... but then I'd ask myself why I couldn't just wait for a nicer pitch instead of swinging at every piece of junk the market threw at me, and I'd probably still end up skipping it and going to do some reading about the psychology of overtrading.
  • #3,219
  • Jun 27, 2008 10:39am Jun 27, 2008 10:39am
Quoting Archiphage
I don't see a short here as high-probability. I am short this pair, but from 107.84. I do see the previous 1hr bar as a bearish engulfing bar... but this pair has come so far, so fast, and we're 30 mins from London close on a Friday. I'd skip it. If I couldn't help myself, I'd put on a really small position... but then I'd ask myself why I couldn't just wait for a nicer pitch instead of swinging at every piece of junk the market threw at me, and I'd probably still end up skipping it and going to do some reading about the psychology of overtrading.
Wow...great analysis. My jaw still wouldn't come up after that reading. Love your style and disclipine. Besides, we're way over 10:00GMT and that's the limit where we would not trade that Peter Crowns has spoken about in his teachings.
  • #3,220
  • Jun 27, 2008 10:40am Jun 27, 2008 10:40am
Quoting HouseTrader


that's not fair... almost going to my afternoon shift...

Maybe someday I'll get there....

Cheers!
lol, maybe we'll all get there someday - I worked a double shift today!
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