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The DIBS Method... No Free Lunch continues

  • #3,541
  • Jul 2, 2008 3:24am Jul 2, 2008 3:24am
Quoting kojak
it sure is lumesh, but watch out for resistance..weekly and r1
i have an entry order at 168,15 ..

i see your point but i think we are already at high levels after 2 consecutive long bars, a retracement might be in place, i entered at 16804 , giving the market another 11 pips makes the risk/reward of this trade a bad one in my opinion. the SL is 16770 (2 pips below the low of the IB).
  • #3,542
  • Jul 2, 2008 3:26am Jul 2, 2008 3:26am
Because Friday is holiday in US, this month NFP will be tomorrow (usually is first Friday every month) and this is the news that moves the market the most. This is why I wouldn't put any trades tomorrow before that. Usually on NFP weeks I trade much less as well.
  • #3,543
  • Jul 2, 2008 3:54am Jul 2, 2008 3:54am
ok, it became a free trade quicker than expected
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  • #3,544
  • Jul 2, 2008 4:02am Jul 2, 2008 4:02am
Took the EJ at 9.00 BST, entry 168.02 pt1 168.30........bottled out on second lot for 16 pips , but let first lot run.....got to PT1(so got another 28 pips).
Not the best approach but my self discipline is still weak.
  • #3,545
  • Jul 2, 2008 4:14am Jul 2, 2008 4:14am
Stupid news spikes killed everything on the EUR/USD and GBP/USD this morning. Still squeezed a few pips profit out but nothing to write home about.
  • #3,546
  • Jul 2, 2008 4:17am Jul 2, 2008 4:17am
Quoting attictrader
Not the best approach but my self discipline is still weak.

Why?
  • #3,547
  • Edited 5:46am Jul 2, 2008 5:32am | Edited 5:46am
DIBS long signal in the hourly chart of GBPJPY breached of 211.68 targeting 212.30-213 for the coming session!

Just an info and not a reco!
  • #3,548
  • Jul 2, 2008 5:37am Jul 2, 2008 5:37am
Quoting HUnter123
ok, it became a free trade quicker than expected
Good call,there was an IB on the daily as well,so a break of that was a confirmation as well

baz
  • #3,549
  • Jul 2, 2008 5:47am Jul 2, 2008 5:47am
Quoting HUnter123
ok, it became a free trade quicker than expected
Yep..nice..closed my position...time to play golf
25 pip is 25 pip
  • #3,550
  • Jul 2, 2008 5:57am Jul 2, 2008 5:57am
Should see a setup here on the GBP/USD again for a short in a few. It's down quite a bit on the day though, not sure if I should pull the trigger (or if I'll have a chance).
  • #3,551
  • Jul 2, 2008 6:15am Jul 2, 2008 6:15am
Quoting Mets
Should see a setup here on the GBP/USD again for a short in a few. It's down quite a bit on the day though, not sure if I should pull the trigger (or if I'll have a chance).
What is your trend for the day based on the opening?
History is written by the victors.
  • #3,552
  • Jul 2, 2008 6:33am Jul 2, 2008 6:33am
Quoting 4x_Trader
DIBS long signal in the hourly chart of GBPJPY breached of 211.68 targeting 212.30-213 for the coming session!

Just an info and not a reco!

200 ma providing resistance
  • #3,553
  • Jul 2, 2008 7:26am Jul 2, 2008 7:26am
This pair kept breathing more pips. So beautiful!
Attached Image (click to enlarge)
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  • #3,554
  • Jul 2, 2008 9:00am Jul 2, 2008 9:00am
Quoting timex83
This pair kept breathing more pips. So beautiful!

Timex,

I love your display, I recognize the FF Calendar, but what are the others?

A lot of good info, in a neat package....


Rusty
  • #3,555
  • Jul 2, 2008 9:02am Jul 2, 2008 9:02am
I have received another PM from Peter, bless him, for answering one of the questions that has been lagging this thread. Peter said that he knows the difference between a low possibility IB and a high possibility IB. He can distinguish between the two right away when you give him a chart. Here his is answer.


Quote
Originally Posted by Vfforexlee
Peter,

I was reading your DIBS thread over and over again. I have noticed that you can see the difference between a high possibility IB and a low possibility IB. What I did notice that you did not explain how you can distinguish between the two. May I ask you to elaborate this more?

Thanks,
Franklin
-Franklin-

You may ask.

To use metaphor, that knowledge is the "spice" of trading.

"He who controls the spice, controls the universe!" -DUNE
(I would recommend checking Wikipedia for reference to the above)

-PeterCrowns-
  • #3,556
  • Jul 2, 2008 9:04am Jul 2, 2008 9:04am
The answer here is simple. Keep on trading until you get it. Once you get the difference between a high possibility IB and a low possibility IB, you control the universe or this method.

Unless somebody has a better translation of his meaning...
  • #3,557
  • Jul 2, 2008 9:27am Jul 2, 2008 9:27am
To use metaphor, that knowledge is the "spice" of trading.

"He who controls the spice, controls the universe!" -DUNE
(I would recommend checking Wikipedia for reference to the above)

-PeterCrowns-[/quote]

LOL, Franklin what response from Peter, he is the quizatz haderach!

Paj
  • #3,558
  • Jul 2, 2008 9:34am Jul 2, 2008 9:34am
Quoting Vfforexlee
I have received another PM from Peter, bless him, for answering one of the questions that has been lagging this thread. Peter said that he knows the difference between a low possibility IB and a high possibility IB. He can distinguish between the two right away when you give him a chart. Here his is answer.


-Franklin-

You may ask.

To use metaphor, that knowledge is the "spice" of trading.

"He who controls the spice, controls the universe!" -DUNE
(I would recommend checking Wikipedia for reference to the above)

-PeterCrowns-
Look at the Euro/USD and the convergence of the hourly; Daily: weekly/monthly support/resistance lines and how the price plays around them - food for thought ?
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,559
  • Jul 2, 2008 9:34am Jul 2, 2008 9:34am
Quoting rusty105
Timex,

I love your display, I recognize the FF Calendar, but what are the others?

A lot of good info, in a neat package....


Rusty
Thanks. The others are currency strenth meter (!xmeter), signal bar information and currency range information.
  • #3,560
  • Jul 2, 2008 9:39am Jul 2, 2008 9:39am
In order to further this thread and gain our DIBS experience by learning more about it, I have decided to open a conference for DIBS traders. It will open from 12am(EST) to 1 pm. What we do is to receive and send DIBS signals in our conference and discuss why we made that trade. We can also test out the 30 min TF DIBs that was made popular by Jarroo.

This conference is not to decrease the lack of popularity of this thread; it is to decrease the amount of unneccessary "chats" in this thread. Plus, it is a way for some bored traders like me and Housetrader who want nothing but to discuss more about this DIBS method.

The conference is free, and any member of DIBS is allowed to join. I do not have a link to the DIBS conference, but if you want to join, send me your yahoo ID and I will place you in there.

EDIT:Or you can PM me as some people has chosen to do that.
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