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The DIBS Method... No Free Lunch continues

  • #3,461
  • Jun 30, 2008 11:11pm Jun 30, 2008 11:11pm
Quoting lose_again

last question is on pin bar since everybody talks about it. but as far as I remember the definition of pin bar is arbitrary. can you guys elaborate it a little more. James16 thread is too scary to read.

Try this out for PB's
http://www.forexfactory.com/showthread.php?t=38266
  • #3,462
  • Edited 12:22am Jul 1, 2008 12:08am | Edited 12:22am
Quoting tommyd
Try this out for PB's
http://www.forexfactory.com/showthread.php?t=38266
Nice thread tommyd.

lose_again, here's direct links to PDF files that explain pinbars well, and how to trade them:

http://www.forexfactory.com/attachme...chmentid=43133
http://www.forexfactory.com/attachme...chmentid=43134

Not sure about the IB question, araouf has the right idea of being cautious with, or aware of key S/R levels.

This is what I really like about this system, risk is small in comparison to the potential gains - this is what trading well is all about, cut the losses and ride the gains (free trades are THE go, no matter what system you use).

If the Euro last night for example had broken resistance, taking a DIBS trade would have had you in there as early as possible, with so very little risk. I guess it's like the old saying, gotta be in it to win it

Jarroo has a good idea to use IB's on the 30 minute chart for a high trending pair, Peter did say that he knows people who do use time frames below 1 hour.

And as for getting rid of the open price filter, read this again (from Peter):

In the pit the first thing you learn--- when you are ready to actually make money..., and stop the bleeding, is:

  1. Only be willing to buy a market if it is up on the day.
  2. Only be willing to sell a market if it is down on the day.

Just because one day was bad, don't try to fix what ain't broke for the next day.


EDIT) Forgot one more thing lose_again, I suggest you do take the time to read the entire james16 thread. Next to PeterCrowns' posts, it is the best info you'll find here on FF

  • #3,463
  • Jul 1, 2008 1:09am Jul 1, 2008 1:09am
Quoting rusty105
Anyone seeing a IB on EURJPY? 00GMT?

Rusty
yep but i spotted this nice 4hr one this morning at the same time which looked more reliable and coming off the 38fib. Lower entry but I felt much more confident setting a sellstop on it.

(Also not DIBS but I put a sellstop on GJ off the 4hr too based on the 2 retracement pin bars off the 50 fib.)
Attached Image
  • #3,464
  • Jul 1, 2008 1:21am Jul 1, 2008 1:21am
Hello

Does anyone have a insidebar alert indicator

Best regards


Dale
  • #3,465
  • Jul 1, 2008 1:24am Jul 1, 2008 1:24am
Quoting Forex007
There you go (attached)

Hi Forex007,

Could you please add an option to trigger sound & popup alerts only when the IB length is "less than X pips", where we can input/adjust the X pips. I found this might be useful for SL per pair that we are willing to risk.

Thank you
  • #3,466
  • Jul 1, 2008 1:26am Jul 1, 2008 1:26am
Good morning,


Looking at the majors atm... would you guys agree that the cable and the swissy are the hot one?

Unus pro omnibus, omnes pro uno
  • #3,467
  • Jul 1, 2008 1:29am Jul 1, 2008 1:29am
For whats it's worth i think the JPY is looking ok if we get an IB
  • #3,468
  • Jul 1, 2008 1:30am Jul 1, 2008 1:30am
Quoting moneda
Good morning,


Looking at the majors atm... would you guys agree that the cable and the swissy are the hot one?

maybe - but perhaps you could call them DOBS - Daily Outside Bar Setup.........
  • #3,469
  • Jul 1, 2008 1:37am Jul 1, 2008 1:37am
[quote=bob_inabottle;2084867]For whats it's worth i think the JPY is looking ok if we get an IB[/quote]
Bob,

You are right it is the u/j that is the hottest...missed that! Waiting for an IB...

Thanks.


maybe - but perhaps you could call them DOBS - Daily Outside Bar Setup.........

Trump,

Yes, I c what you mean...an engulfing bar

thanks
Unus pro omnibus, omnes pro uno
  • #3,470
  • Jul 1, 2008 1:48am Jul 1, 2008 1:48am
Hello,

The e/u and the g/u are getting close again to a significant resistance area which is also last week's high. The u/j is a support area that has bounced from in the last couple of days....also is last week's low.

Unus pro omnibus, omnes pro uno
  • #3,471
  • Jul 1, 2008 2:30am Jul 1, 2008 2:30am
Quoting jarroo
No problem House. We all enjoy you insights and comments.

Keep up the good work my brother.

Jim
I agree. Keep up your sense of humor and your good posts. http://www.forexfactory.com/images/icons/icon10.gif

Cheers.

Dave
  • #3,472
  • Jul 1, 2008 2:51am Jul 1, 2008 2:51am
I went ahead and jumped short on the EUR/JPY based on the 30 min chart, but it looks like it's going to sustain the IBar for the hour unless something breaks hard in the next 10 minutes~
  • #3,473
  • Jul 1, 2008 3:04am Jul 1, 2008 3:04am
Morning all,

Any thoights on the attached please.

Took trade as Doji formation near peak and ib confirmation

Thoughts appreciated.

Cheers DT
Attached Image (click to enlarge)
Click to Enlarge Name: usd_cad.gif Size: 40 KB
  • #3,474
  • Jul 1, 2008 3:48am Jul 1, 2008 3:48am
In EJ short in the dibs. Lets see if this plays out something
Survive and Preserve
  • #3,475
  • Jul 1, 2008 3:54am Jul 1, 2008 3:54am
Quoting en0x
In EJ short in the dibs. Lets see if this plays out something
  • #3,476
  • Jul 1, 2008 3:54am Jul 1, 2008 3:54am
Quoting Dale
Hello

Does anyone have a insidebar alert indicator

Best regards


Dale
This is what I use Dale

I use the IB and the smallest of 4 IB which this indicator shows seperately.

Also use the pinbar, outside bar and dlhc/dhlc.

You can tweak it to show which ones you want

Bobby
Attached File(s)
File Type: mq4 VM_Price_Action_1.2.mq4   22 KB | 1,056 downloads
File Type: ex4 VM_Price_Action_1.2.ex4   24 KB | 636 downloads
  • #3,477
  • Jul 1, 2008 4:35am Jul 1, 2008 4:35am
Thankyou BobbyBrown
  • #3,478
  • Jul 1, 2008 4:36am Jul 1, 2008 4:36am
Quoting f4mnect
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
Hi f4mnect,
thank you very much for your Excel file.

I’m trying to develop my own file, but I have a doubt about the pip value for EUR_CHF, USD_JPY, USD_CHF.
Could you kindly check if I calculate the pip value for these cross correctly?

Thank you!
Attached File(s)
File Type: xls Forex.xls   29 KB | 629 downloads
  • #3,479
  • Jul 1, 2008 4:57am Jul 1, 2008 4:57am
Quoting Alberto_Jazz
Hi f4mnect,
thank you very much for your Excel file.

I’m trying to develop my own file, but I have a doubt about the pip value for EUR_CHF, USD_JPY, USD_CHF.
Could you kindly check if I calculate the pip value for these cross correctly?

Thank you!


I'm having my partner check it out now, i'm micro managing a trade right now(aghhh i need to break that habit lol) plus hes the function guy much more than i am.
  • #3,480
  • Jul 1, 2008 4:59am Jul 1, 2008 4:59am
Quoting en0x
In EJ short in the dibs. Lets see if this plays out something
Nice one. Got out 166,20..Just above monthly pivot. 40 pip is 40 pip
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