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The DIBS Method... No Free Lunch continues

  • #3,401
  • Jun 30, 2008 9:36am Jun 30, 2008 9:36am
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!
Attached Image
  • #3,402
  • Jun 30, 2008 9:46am Jun 30, 2008 9:46am
Quoting kimmy
hi guys

EJ short was triggered but i just got stopped out at -26 pips
well done to all of you that got some nice pips today !
cheers
kim
kimmy and sentaco is here...


how r u guys!!

sonic
  • #3,403
  • Jun 30, 2008 10:09am Jun 30, 2008 10:09am
Bagged some pip on EJ short....on 167.10 ...


and It gona go down...further...

Tgt 165.00 region!!
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.JPG Size: 94 KB
  • #3,404
  • Jun 30, 2008 10:25am Jun 30, 2008 10:25am
Quoting sonicdeejay
kimmy and sentaco is here...


how r u guys!!

sonic

hi there

how are you...i am fine thanks

how did you manage to not get stopped out on EJ short?
cheers
kim
  • #3,405
  • Jun 30, 2008 10:32am Jun 30, 2008 10:32am
Quoting **straddle**
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!

Indicators show the past. Price Action "Indicates" the future.
  • #3,406
  • Jun 30, 2008 11:06am Jun 30, 2008 11:06am
Quoting **straddle**
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!

LOL .........
  • #3,407
  • Jun 30, 2008 11:26am Jun 30, 2008 11:26am
OK I added the pips from daily open but you have to input the daily open prices into The Spread Sheet. I'm trying to get the prices added on their own but no luck so far
Attached File(s)
File Type: xls Currency Info & Position Sizev3.xls   88 KB | 603 downloads
  • #3,408
  • Jun 30, 2008 11:31am Jun 30, 2008 11:31am
Quoting **straddle**
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!


Are you gonna sell it on e-bay?
Many share my views with me. But I don't share them with them...
  • #3,409
  • Jun 30, 2008 12:02pm Jun 30, 2008 12:02pm
Quoting **straddle**
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!
haha nice! instant best-seller.

this is my first week(day) forward testing this strat(live account). Got a GBP/USD short sometime after 10am, and am now in my first free trade. actually its slightly more than free because i took off 2/3 my position instead of 1/2. Feels nice having a free trade on with a very large profit target. Good stuff! Hope you all had a good trading day.. even though watching price today was like watching a yo-yo.

- nick andre -
  • #3,410
  • Jun 30, 2008 12:26pm Jun 30, 2008 12:26pm
for you video gamers out there.. this is pretty funny

7 Video Game Currencies Stronger than USD:
http://www.maxim.com/7VideoGameCurre...les/22332.aspx
- nick andre -
  • #3,411
  • Edited 12:44pm Jun 30, 2008 12:34pm | Edited 12:44pm
hey, I've noticed that a lot of times, due to the spread, I'm quoted several pips beyond the entry point. Should I pick my 1:1 target based on the IB only, or based on my entry position (a few pips above the top) and my exit position (1 pip below the IB)? The latter gives me a larger, harder to reach target, whereas the former usually always gets hit.

The reason why I ask is that I've noticed it can have a measurable effect on if you hit a target or get stopped out.

Ex. today I went long USD/CHF. I got in at the 9am setup at 1.0199 (I waited for it to go 1 above the IB, plus my spread). I put my stop at 1 below the IB. My first target was 1.0222, which never got hit, but a true 1:1 target of 1.0212 from the size of the IB alone did.
  • #3,412
  • Jun 30, 2008 12:37pm Jun 30, 2008 12:37pm
Added the Pips from Daily Open to the Graphs. But you still need to add the daily open values to the spreadsheet, everything eles is automatic current Bid/ask/high/low/spread
Attached File(s)
File Type: xls Currency Info & Position Sizev4.xls   97 KB | 651 downloads
  • #3,413
  • Jun 30, 2008 12:38pm Jun 30, 2008 12:38pm
Quoting PipAdder
I also had that very problem with line thickness... To make the thickness value you want as default stick you have to open the source (.mq4 file) of the indicator with an editor and change the default thickness numbers. Then recompile the indicator (or delete the old .ex4 file and restart Metatrader). I don't remember where exactly in the file the values were, but I recall it wasn't too difficult to find, it is a 2-minute thing.


Edit: I actually changed it in two different places in the .mq4 files. look for these lines in your indi file and modify the last number in them, that is the line thickness:

Place 1: #property indicator_width1 4
Place 2: SetIndexStyle(0,DRAW_HISTOGRAM,0,4);

As you see, i have my default thickness set to 4.
Thanks, Pipadder. I'll try what you suggest. It'll definitely take me longer than two minutes, though!
All flesh is as grass
  • #3,414
  • Jun 30, 2008 1:00pm Jun 30, 2008 1:00pm
Quote
Originally Posted by **straddle** http://forexfactory.com/images/buttons/viewpost.gif
Lets see now - Chapter 0ne -

Where to find 06.00 GMT on my chart!

Still chuckling hours later!!!
  • #3,415
  • Jun 30, 2008 1:05pm Jun 30, 2008 1:05pm
Quote
Should I pick my 1:1 target based on the IB only, or based on my entry position (a few pips above the top) and my exit position (1 pip below the IB)? The latter gives me a larger, harder to reach target, whereas the former usually always gets hit.

"usually always"???? If only it was always!!

Mets,
I think you've answered your question yourself if this is your experience.
  • #3,416
  • Jun 30, 2008 1:07pm Jun 30, 2008 1:07pm
Quoting attictrader
"usually always"???? If only it was always!!

Mets,
I think you've answered your question yourself if this is your experience.
Ok maybe not always (wishful thinking) but it appears that it gets hit more often.
I've only been using this for about 1.5 weeks though, so I could have just gotten a good market or something. Some people have been using this for a while, so I thought maybe they had a better variation on this. The reason I bring this up is because if you are using the size of the IB only, your trade isn't 1:1, as you'll lose profits on the spread and take on extra risk with the stop. PC said take half off at 1:1...so I was trying to clarify what exactly are we using to define 1:1.
  • #3,417
  • Jun 30, 2008 1:10pm Jun 30, 2008 1:10pm
Most here add the spread when calculating the risk per trade.
"Whether you think you can or can't, you're right." Henry Ford
  • #3,418
  • Jun 30, 2008 1:17pm Jun 30, 2008 1:17pm
Quoting Scot Pippin'
Most here add the spread when calculating the risk per trade.
Scot, does that mean you buy when the ask price crosses above the IB (not the chart itself) on a long and sell when the ask price is below the IB on a short, or do you just increase the distance to the target?
  • #3,419
  • Jun 30, 2008 1:19pm Jun 30, 2008 1:19pm
Mets,

I understand what you are saying and I take your point......seriously, I think it makes sense to add the spread plus one point....this way you achieve breakout and BE. It is frustrating when your trade just misses the PT1 and heads back the wrong way to take out your stop at a loss.....however, from PC's input and experience over many years, if the profits are allowed to run, they will outweigh the (frequent but small) losses.

AT
  • #3,420
  • Edited 1:51pm Jun 30, 2008 1:35pm | Edited 1:51pm
DIBS alert:
GBPJPY is forming a IB in 1 hr tf. Might be a little early to tell. Plus, it's right next to the resistance line.

EDIT: Okay, I'm seeing IB in all five of five PC's pairs. USDCHF, GBPJPY, USDJPY, EURUSD, and GBPUSD. The one i'm most interested in is GBPJPY 1 hr tf.
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