The DIBS Method... No Free Lunch continues | Page 163 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

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

The DIBS Method... No Free Lunch continues

  • #3,241
  • Jun 27, 2008 12:01pm Jun 27, 2008 12:01pm
alright, have a good weekend guys! get ready for DIBS Monday! Best day of the week
  • #3,242
  • Jun 27, 2008 12:07pm Jun 27, 2008 12:07pm
Quoting Trumpcard

Euro - move your ass

respect
  • #3,243
  • Jun 27, 2008 12:07pm Jun 27, 2008 12:07pm
Quoting Trumpcard
alright, have a good weekend guys! get ready for DIBS Monday! Best day of the week
Another great week.

See ya
Indicators show the past. Price Action "Indicates" the future.
  • #3,244
  • Jun 27, 2008 12:30pm Jun 27, 2008 12:30pm
With all open ONS trades positive, and all open DIBS trades (EUR, JPY, & GBP) in risk-free status, it looks like a nice way to end the week.

I leave you with this:
http://www.forexfactory.com/showthre...78#post1984678

Reread this post. Pay particular attention to this line:


'I was not interested in taking any short positions in the market shown, and was just looking for buys.'


The market referenced is USD/CHF on May 2, 2008. I have asked myself why PC was only interested in longs that day. I believe I have the relatively simple answer, and I also believe that I could have improved my results this week by putting that idea to use. I know that I will be utilizing the idea next week. Take care all, and Viva la DIBS!
  • #3,245
  • Jun 27, 2008 12:40pm Jun 27, 2008 12:40pm
Hello,

Well I am back from doing what I have to do to pay the bills and guess what? My preset price was hit @1.9905 and the PT @ 1.9946 for a lucky 40 pips..nice way to end the weekend. Chow and the rest of the gang..I hope that you too waited like an alligator for that break of the 1.9900.

Have a great weekend everybody!
Unus pro omnibus, omnes pro uno
  • #3,246
  • Jun 27, 2008 12:51pm Jun 27, 2008 12:51pm
I undated the spread sheet to be much more visual and really show the hot hands to be playing. Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 27 10.47.jpg Size: 202 KB
Attached File(s)
File Type: xls Currency Info & Position Size.xls   93 KB | 934 downloads
  • #3,247
  • Jun 27, 2008 12:55pm Jun 27, 2008 12:55pm
Quoting f4mnect
I undated the spread sheet to be much more visual and really show the hot hands to be playing. Hope it helps.
Looks great.

How about about "Pips from Open"
Indicators show the past. Price Action "Indicates" the future.
  • #3,248
  • Jun 27, 2008 12:57pm Jun 27, 2008 12:57pm
Quoting jarroo
Looks great.

How about about "Pips from Open"
must sleep lol, 13 hours at comp. but yes will do
  • #3,249
  • Edited 1:35pm Jun 27, 2008 1:23pm | Edited 1:35pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
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.
I've modified the original in&out, it will now only do IB's with and will show when price is also equal to the previous bar. well thats the plan but i need a referance chart to check it on, can anyone remember the last time we had an equal hi or low? so i can check it, before i post it and it's not functioning correctly.

MPP

EDIT: found them on EU same high and same low.
  • #3,250
  • Jun 27, 2008 1:44pm Jun 27, 2008 1:44pm
MPP I think there is one here at about 8GMT 20 june 08 - usdchf chart

http://www.forexfactory.com/showpost...postcount=2388
  • #3,251
  • Jun 27, 2008 1:46pm Jun 27, 2008 1:46pm
that's incredible! can you give easy instructions on how to hyperlink it for real time data?

thanks

Quoting f4mnect
must sleep lol, 13 hours at comp. but yes will do
Trade what you see - Not what you think
  • #3,252
  • Jun 27, 2008 2:01pm Jun 27, 2008 2:01pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting **straddle**
MPP I think there is one here at about 8GMT 20 june 08 - usdchf chart

http://www.forexfactory.com/showpost...postcount=2388
didn't see one on the 20th but i found 2 double IB with the same high and low on the Uchf chart, cheers for that.
  • #3,253
  • Jun 27, 2008 2:03pm Jun 27, 2008 2:03pm
Just a comment to Vfforexlee talks to Peter, posted earlier...

Fellows, I got to say that he isn't only a huge trader, but he also has an unique talent for choosing the way he spread his word. I truly admire him more everyday.

Quote
There is no degree that prepares you for trading.

There are no schools or college courses to accomplish what I and other traders do. And never will be. This profession is about making money from price movement.
Wow... There's still hope for me, a thick medical science brain...

Quote
Where there is a will there is a way. Old saying. Never has there been a better one when you are talking about trading.

(read this paragraph carefully)
By comparison to my own willingness "to do" then and especially now; only 3 aspiring traders I have come across in the last 15 years approach the same determination that I have.
This one knocked me out...

I received a PM recently from a gentle member of this thread, asking me, off-topic, about what drove me from medicine to Forex.... I couldn't help posting some parts of my answer here... I know its a bit off-topic, but, come on, folks, it's Friday afternoon, big guy's screen are shutting off...

So here comes my statement, with some minor adjustments....

Quote
Down here in Brazil there are just a few jobs that have a decent income (I guess I can remeber just one... politician ... they got 16 yearly payments/salary and "work" from Tuesday to Thursday only....)

I could say that I trade because the adrenaline, but believe me I have enough stress at my job, and I mean it.... it's much, much stressful than trading.

Well, I come from a middle class family, which got bankrupt in early 80's. So my only choice of being somehow "secure" in therms of a regular income was medicine - it is the only "zero" unemployment job around here, and at that moment, I couldn't wait 1 week unemployed. That's how it works in countries like Brazil. Sad but true.

I studied in a State College (they are the best here. I got to beat over 120 candidates for each one of the 90 offered posts). My wife is a specialized audio/speech therapist with 2 post-graduation degrees, and can't find a job for 1 year so far (she's not a doctor). Being a doctor around here is one of the very few guaranteed ways (jobs) to pay the bills (not to become wealthy).... But don't be scared, despite some humor sometimes, I take it seriously, have no doubt. But I don't love it and don't want to be in this stressful life so long. Hope you don't mind being so straightforward, but that's the truth...

About 6 years ago I started trading stocks, and, as usual, after some hard learning, I got some really good results. And I was just hooked, fascinated by this kind of activity. And I found during those years that this is what I love to do (I wake up every day 3am to get the European start...) and better, that could give me a potential boost on my income...

About 1-1,5 years ago I decided to learn about other markets, motivated by the reading of Mark Tier's book about Buffet and Soros. Buffet was well known to me, since I was on stock market. I knew about Soros, but didn't know how could he trade currencies... some quick research (thanks, Google!), and I discovered Forex... hooked again. Started to read a lot, follow FF as a guest, opened and blown some demo, and started a live account when I got comfortable.

In fact, I used to trade somehow similarly to DIBS before (breakouts, I mean), live, with average results (the learning curve is still beginning...) based on PA, with an ear on fundamentals (a good tool acquired from stocks), and then I found DIBS. That was a perfect match, solving an simplifying some big flaws of my other system... Now, I almost just trade DIBS (mixed with some PA from J16 sometimes)....
Just felt inclined to state the above, fellows... Sorry if I bothered anyone... That's my "fuel".

Where there is a will there is a way.

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #3,254
  • Jun 27, 2008 2:22pm Jun 27, 2008 2:22pm
Quoting summitfx
that's incredible! can you give easy instructions on how to hyperlink it for real time data?

thanks
It all ready is set up for it, you need to in mt4, up top, go to Tools/Options/Server Tab and enable DDE server. then re-open the excel sheet, enable macros and then click the update buttom, Then it's live
  • #3,255
  • Jun 27, 2008 2:24pm Jun 27, 2008 2:24pm
Ok, I have somewhat been following this for a while and want to get in on the DIBS. I think I understand the system, my only problem is timing. I have to wake up at 4am EST to get ready for work, and really don't have much access until 7am EST. At that point I can leave my laptop running at work, and since I only need to listen for an alert. Can someone suggest a pair or 2 or 3 to watch that will have a fair amount of play? I would like to make this work out as it seems to be a very good system. I guess I can look for trades at 4, 5, and 7 am EST. 6am I am on a train heading to work, obviously I would be working off the hourly charts. I am thinking about EUR$, GBP$, and $CHF to listen for. Tell me what you think.
Thanks
Rusty
  • #3,256
  • Edited 4:08pm Jun 27, 2008 2:34pm | Edited 4:08pm
Quoting jarroo
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.
I also was looking to short this pair this morning and Dibd it off the 01 bar 168.20. I didn't have time to wait for it to get 1:1, so I'm still holding the full position. What to do? Thinking bout just holding it.

This was my first week practicing Dibs, but I see Dibs + PA = one hellava combo!
So spend alot of time in the James 16 thread if you haven't already. This week has been very inspiring for me, but my wife can't understand why I'm getting up at 1-2 am. I hope that's not the case forever.
"Whether you think you can or can't, you're right." Henry Ford
  • #3,257
  • Jun 27, 2008 2:54pm Jun 27, 2008 2:54pm
Quoting HouseTrader
I know its a bit off-topic, but, come on, folks, it's Friday afternoon, big guy's screen are shutting off...
HT
House, if all posts were on topic it would make for a very dry and boring thread!


  • #3,258
  • Edited 4:03pm Jun 27, 2008 3:46pm | Edited 4:03pm
Doc,

Thank you for sharing part of your life.. it is inspiring. Nothing wrong with throwing in some humanity into this lonesome and tough world of forex.
Unus pro omnibus, omnes pro uno
  • #3,259
  • Jun 27, 2008 3:50pm Jun 27, 2008 3:50pm
Quoting jarroo
S/R levels on higher time frames are good locations to take profits.
Tell me about it, i had two free rides on GBP/JPY (one from yesterday) and my friend talked me into going to audition for "Who wants to be a Millionaire" this morning. So I didn't think to set any TP. Wow what a move I missed! I'm still hoping this pair makes a further push down but I would have probably closed at least one of them today.
"Whether you think you can or can't, you're right." Henry Ford
  • #3,260
  • Jun 27, 2008 4:02pm Jun 27, 2008 4:02pm
Quoting rusty105
Ok, I have somewhat been following this for a while and want to get in on the DIBS. I think I understand the system, my only problem is timing. I have to wake up at 4am EST to get ready for work, and really don't have much access until 7am EST. At that point I can leave my laptop running at work, and since I only need to listen for an alert. Can someone suggest a pair or 2 or 3 to watch that will have a fair amount of play? I would like to make this work out as it seems to be a very good system. I guess I can look for trades at 4, 5, and 7 am EST. 6am I am on a train heading to work, obviously I would be working off the hourly charts. I am thinking about EUR$, GBP$, and $CHF to listen for. Tell me what you think.
Thanks
Rusty
Hello Rusty,

Have you considered trading the 4hrTimeframe? You can adjust your mm to fit the larger stop losses that you would have to deal with but there will be less fakeouts . You will be looking for IBs at 4, 8 and your trades could last weeks or months. DIBS works on higher timeframes according to Peter Crowns. There are people here that are trading DIBS on the 4hr...ask them to help you strategize. Someday, I may consider doing the same.

Good luck
Unus pro omnibus, omnes pro uno
13 traders viewing now