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The DIBS Method... No Free Lunch continues

  • #3,621
  • Jul 5, 2008 3:10pm Jul 5, 2008 3:10pm
having a look at this dibs method... since I've read some people are doing great... so I'm curious and want to have a look.

Have a nice weekend and trading to everybody.
  • #3,622
  • Jul 5, 2008 4:18pm Jul 5, 2008 4:18pm
Hey Guys,

The posts from people like Housetrader and others could not come at a better time given the attempt by some of the people in this thread to "optimize" DIBS... Take it as it is or leave it alone! By the way, I would recommend that you check out "THE REALTHING" blog for additional bits of wisdom. He is a soultrader of PC. As a matter of opinion....after reading all of the TheRealThing's blog, I almost had a feeling that they were the same person...not trying to start some dumb rumor...just that they are likeminded.




Good luck this coming week.

Unus pro omnibus, omnes pro uno
  • #3,623
  • Jul 5, 2008 4:22pm Jul 5, 2008 4:22pm
Quoting jarroo
Well said again House.

From the PMs I have been getting, I have found that some people don't like simple in trading. But I'll tell you all a little secret . . . . . . . it's the only thing that works.
So that's where I've been going wrong!

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  • #3,624
  • Jul 5, 2008 4:29pm Jul 5, 2008 4:29pm
Good day traders, Hope u guyz are having wonderful moment this weekend. i have been re-trading the chart with the aid of vhands trade using Ib as my entry and i must say that the result so far have been amazing? still re-trading cable from jan1 till 17th and i am up by 12%. That's amazing result. interestingly, here is a case of january 17th, an Ib formed with about 70pips as stoploss. honestly, this must have scared a lot of traders away but the 1:1 was hit . Ib rocks. am looking forward to a pipful monday
  • #3,625
  • Jul 5, 2008 4:52pm Jul 5, 2008 4:52pm
Quoting **straddle**
So that's where I've been going wrong!


Great post.
Indicators show the past. Price Action "Indicates" the future.
  • #3,626
  • Jul 5, 2008 11:49pm Jul 5, 2008 11:49pm
Quoting Naijafx
Good day traders, Hope u guyz are having wonderful moment this weekend. i have been re-trading the chart with the aid of vhands trade using Ib as my entry and i must say that the result so far have been amazing? still re-trading cable from jan1 till 17th and i am up by 12%. That's amazing result. interestingly, here is a case of january 17th, an Ib formed with about 70pips as stoploss. honestly, this must have scared a lot of traders away but the 1:1 was hit . Ib rocks. am looking forward to a pipful monday

hi Naijafx, sounds good. How much of your account are you risking per trade? Are you compounding the profits? ARe you fully closing the trade out at 1:1 or exiting half?
  • #3,627
  • Jul 6, 2008 12:24am Jul 6, 2008 12:24am
Good method for me. exaactly wath I'm looking for. Good job guys don't give up hang on!!!!straddle**;2093100]So that's where I've been going wrong!

[/quote]
  • #3,628
  • Jul 6, 2008 6:51am Jul 6, 2008 6:51am
Some heads-up for next week. Because Friday was a holiday we saw small movement and we have a daily IB on UJ and UC. The charts looks like (the majors) we are in for a USD bull soon, maybe at the start of next week already.
Here's my charts for UJ where I look at H1, H4, D1 and W1 at the same time (the other majors are the same). This gives me a view of the overall picture without switching between the timeframes. The break of the daily IB has some potential to reach 1:1 in both directions. Let's see what next week brings our way. Maybe the G8 meeting can give some direction as well.
Attached Image (click to enlarge)
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  • #3,629
  • Jul 6, 2008 2:01pm Jul 6, 2008 2:01pm
Hi Guys

I just had time to read all the responses to my last post, 'voice from the closet'. I am worried i have caused quite a stir. It is important to me that you guys know that i have no intention to adulterate this thread, or the system itself. I just thought if i have found a way to further simplify the system for my benefit, such that i could still make 37 pips on the 4th of July (and previous similar days) which almost everyone said was bad for them, then it would be unfair not to share. I am terribly sorry that my attempts have caused such sacarstic remarks and comments, especially from the main guys behind this system.

I am still grateful to all of you, including Jaroo, for helping me in more ways than you would ever know. This is a great thread and DIBS is a great system too.

I thought i was going to inch out from behind the curtains through this, but ... i guess i'm not ready yet.
  • #3,630
  • Jul 6, 2008 6:08pm Jul 6, 2008 6:08pm
Quoting Andigho
Hi Guys

I just had time to read all the responses to my last post, 'voice from the closet'. I am worried i have caused quite a stir. It is important to me that you guys know that i have no intention to adulterate this thread, or the system itself. I just thought if i have found a way to further simplify the system for my benefit, such that i could still make 37 pips on the 4th of July (and previous similar days) which almost everyone said was bad for them, then it would be unfair not to share. I am terribly sorry that my attempts have caused such sacarstic remarks and comments, especially from the main guys behind this system.

I am still grateful to all of you, including Jaroo, for helping me in more ways than you would ever know. This is a great thread and DIBS is a great system too.

I thought i was going to inch out from behind the curtains through this, but ... i guess i'm not ready yet.
Andigho...

I am not so sure the comments left were meant to be sarcastic.

Maybe people are a little sensitive when folks propose changes to a system that works well as originally posted. A lot of people propose sweeping changes and pretty soon the original becomes unrecognizable.

Your method, however, does not seem like such a radical departure and I, for one, appreciate hearing how others are adapting the system to their style.

Please continue to post your results.
  • #3,631
  • Edited 6:38pm Jul 6, 2008 6:24pm | Edited 6:38pm
well I have noticed on the usd/chf daily chart, as well as the usd/jpy daily that there is a possible setup....at least in my eyes.
I am going to set an entry order based on price action for the usd/chf tonight. here is my reasoning:
-previous fourth bar is a bullish outside bar.
-todays bar and previous two are inside bars.
-previous weeks bar is up = general trend up. daily trend will be up if entry gets triggered, and furthermore, price actions supports it.

based on the small inside bar post the bullish outside bar, I am going to create an entry order with dibs MM rules . I am setting an entry above th high of that IB with my stoploss below that IB and let er run. lets see how it plays out. have a good week!
Attached Image
  • #3,632
  • Jul 6, 2008 6:46pm Jul 6, 2008 6:46pm
here it is
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  • #3,633
  • Jul 6, 2008 7:37pm Jul 6, 2008 7:37pm
Quoting Andigho
Hi Guys

I just had time to read all the responses to my last post, 'voice from the closet'. I am worried i have caused quite a stir. It is important to me that you guys know that i have no intention to adulterate this thread, or the system itself. I just thought if i have found a way to further simplify the system for my benefit, such that i could still make 37 pips on the 4th of July (and previous similar days) which almost everyone said was bad for them, then it would be unfair not to share. I am terribly sorry that my attempts have caused such sacarstic remarks and comments, especially from the main guys behind this system.

I am still grateful to all of you, including Jaroo, for helping me in more ways than you would ever know. This is a great thread and DIBS is a great system too.

I thought i was going to inch out from behind the curtains through this, but ... i guess i'm not ready yet.

Hey And,

I actually read your post and found it interesting. I think some people forget sometimes that DIBs is an entry system. What people choose to do once they are in their trade is up to them and being almost sure of getting 10 pips instead of getting a lot more every now and then is a reflection of their personality.

Another thing, I think that this thing about letting half of your trade ride for months is really mainly for people who are living from Forex not those that are trying to grow their account. I personally cut off 2/3s and let one third run and am using fib retracements to see when to exit and if the retracement is probably going to know me out.

Leaving a trade going for months when growing your account will mean that with the growth of your account you might actually be losing by doing so as a % on your whole account.
  • #3,634
  • Jul 6, 2008 8:16pm Jul 6, 2008 8:16pm
Quoting mudskipper
well I have noticed on the usd/chf daily chart, as well as the usd/jpy daily that there is a possible setup....at least in my eyes.
I am going to set an entry order based on price action for the usd/chf tonight. here is my reasoning:
-previous fourth bar is a bullish outside bar.
-todays bar and previous two are inside bars.
-previous weeks bar is up = general trend up. daily trend will be up if entry gets triggered, and furthermore, price actions supports it.

based on the small inside bar post the bullish outside bar, I am going to create an entry order with dibs MM rules . I am setting an entry above th high of that IB with my stoploss below that IB and let er run. lets see how it plays out. have a good week!
I like it mud. Very well supported. We ignore Sunday Bars (candles).
I would like to see a nice break of there BUOVB, using the bottom of the IB as the trade risk. (as you said)

Nice mud.
Indicators show the past. Price Action "Indicates" the future.
  • #3,635
  • Jul 6, 2008 9:54pm Jul 6, 2008 9:54pm
Clear as mud as well, - BUOVB ?
Good Trading
  • #3,636
  • Jul 6, 2008 10:00pm Jul 6, 2008 10:00pm
Quoting aud
Clear as mud as well, - BUOVB ?
BUllish Outside Vertical Bar.
Indicators show the past. Price Action "Indicates" the future.
  • #3,637
  • Edited 10:04pm Jul 6, 2008 10:00pm | Edited 10:04pm
Quoting kimmy
hi nucking

this is great thanks for your contribution !

any chance of you adding the weekly opening line?
i have show bar time set to true but there is nothing appearing on my chart ?
cheers
kim
Sorry Kim, I have been away for the weekend fishing

I am not quite sure why there's nothing showing on your chart, perhaps it is due to the daily open lines only showing on the 4hr chart and below.

I have created a weekly_open_line indicator that shows the current weekly open level based on the open of the current weekly bar. If you'd like the weekly open line to be the same as the GMT 6:00, let me know and I'll do another indicator.

Please excuse my lack of metatrader experience, I have programmed in C++ and C before, but my experience with metatrader is limited.

If you like what this indicator does, I'll add it into the DIBS indicator.

The settings for this indicator are as follows:

WeeklyOpen_Color = the color of the weekly open line

WeeklyOpen_Style = the style of the weekly open line (can be either SOLID, DASH, DOT, DASHDOT or DASHDOTDOT)

WeeklyOpen_Width = the width of the weekly open line (can be greater than 1 for SOLID style only)

WeeklyOpen_Label = a text label for the weekly open line (leave blank for no label text)

WeeklyOpen_Label_Offset = the position of the label text (may need to experiment with this one)

WeeklyOpen_Label_Font = the font type of the label text (default is Arial)

WeeklyOpen_Label_Font_Size = the size of the font (default is 8)

Let me know how it goes.

Cheers
Attached File(s)
File Type: mq4 weekly_open_line.mq4   3 KB | 903 downloads
  • #3,638
  • Jul 6, 2008 10:03pm Jul 6, 2008 10:03pm
Quoting Catch-22
Hey And,
I actually read your post and found it interesting. ~~
You're the one!

Actually it seems you may have found it interesting for the wrong reasons. Also I did not intend to discourage Andigho. I wish you both good trading.

Andigho keep posting your idea.
Good Trading
  • #3,639
  • Jul 6, 2008 10:08pm Jul 6, 2008 10:08pm
Quoting jarroo
BUllish Outside Vertical Bar.
Thanks, I would not have got that one!
Is BOB used for something else?
Good Trading
  • #3,640
  • Jul 6, 2008 10:22pm Jul 6, 2008 10:22pm
Quoting aud
Thanks, I would not have got that one!
Is BOB used for something else?
Samething : Bullish Outside Bar.

BEarish Outside Vertical Bar on the Euro Daily.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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