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  • #3,781
  • Jul 10, 2008 8:02am Jul 10, 2008 8:02am
Quoting Catch-22
lol. not looking good

stopped out again
That's why I don't trade DIBS on news coming... indecision kills the DIBS concept, it's a Ferrari with no fuel...

Don't worry, Catch.... this method has a huge potential.... soon we'll be back to our great DIBS days, when we got some "hit and run" trades.... Those which the price hits our entry point and never looks back... but for this to happen, a decided market is necessary...

If we look at the majors we are trapped in a range market, even at lower TFs.... who knows how long it will last.... I'm using DIBS, for sure, but away from news releases, and trailing my stops accordingly, by not letting the trade so free, cause it seems that every time I let it run, it reverses, and then reverses again in my direction, and go on with this YO-YO thing... (in a clearer market I would let them run, no doubt!)

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,782
  • Jul 10, 2008 8:23am Jul 10, 2008 8:23am
Quoting jarroo
Sorry I'm missing the Open(s) this week gang. Busy with work and family events.

I got a PM asking me if I'm do a "Build and Run". I had to laugh .
"Build and Run" is when a person starts a thread and "Builds" a following and then goes starts (Runs) paid website somewhere. I'm thinking, what would the website have on it because its all right here.

Keep up the good work everyone.
Hope to have you back soon Jarroo, you are missed.
"Build and Run" - I'm in!! Whats the website called and how much are you charging?
  • #3,783
  • Jul 10, 2008 8:25am Jul 10, 2008 8:25am
Hey Guys

I am in despair ........loss after loss after loss !!!!

someone just shoot me and put me out of my misery haha

cheers
kim
  • #3,784
  • Jul 10, 2008 8:27am Jul 10, 2008 8:27am
stopped out as well on the u/c. house, i know you say to trade when there are no major announcements due but its pretty hard when they are out most days of the week. they are quite often out around the 5 or 6 gmt or not long after or they are mid to late session, so they quite often impact on our crucial times.
i am not trying to be negative but with all the restrictions on start times and announcements, it is really hard to find a good dibs set up and when you do it seems you get creamed. give us guidance pleeeaase. i see the logic in dibs but logic is not filling my account at the moment.

regards,

frustrated dibs fan
  • #3,785
  • Jul 10, 2008 8:31am Jul 10, 2008 8:31am
Quoting HouseTrader
That's why I don't trade DIBS on news coming... indecision kills the DIBS concept, it's a Ferrari with no fuel...

Don't worry, Catch.... this method has a huge potential.... soon we'll be back to our great DIBS days, when we got some "hit and run" trades.... Those which the price hits our entry point and never looks back... but for this to happen, a decided market is necessary...

If we look at the majors we are trapped in a range market, even at lower TFs.... who knows how long it will last.... I'm using DIBS, for sure, but away from news releases, and trailing my stops accordingly, by not letting the trade so free, cause it seems that every time I let it run, it reverses, and then reverses again in my direction, and go on with this YO-YO thing... (in a clearer market I would let them run, no doubt!)

Cheers!
yea - the news does create that indecision that takes the fuel out of our ferrari. but you never know which news releases will create indecision(not entirely true) or not. either way - trading before news or not.. with greater than 1-to-1 reward to risk.. doesn't really matter that much as long as the edge is in tact. profits shall come. so you can actually buy that ferrari(with fuel) if you so choose

i just stopped out on the usd/chf trade as well. usdjpy is still alive. such is a traders life. waiting. lots of it.
- nick andre -
  • #3,786
  • Jul 10, 2008 8:33am Jul 10, 2008 8:33am
Quoting NowAndLater
Hope to have you back soon Jarroo, you are missed.
"Build and Run" - I'm in!! Whats the website called and how much are you charging?
Shhhh....

I heard somewhere from a neighbour of a cousin of a friend of my brother-in-law that Jim is going to sale the system on E-BAY !!!!

Wait..... hurry up fellows.... let's wipe out all our posts!

Many share my views with me. But I don't share them with them...
  • #3,787
  • Jul 10, 2008 8:35am Jul 10, 2008 8:35am
Quoting aajduk
stopped out as well on the u/c. house, i know you say to trade when there are no major announcements due but its pretty hard when they are out most days of the week. they are quite often out around the 5 or 6 gmt or not long after or they are mid to late session, so they quite often impact on our crucial times.
i am not trying to be negative but with all the restrictions on start times and announcements, it is really hard to find a good dibs set up and when you do it seems you get creamed. give us guidance pleeeaase. i see the logic in dibs but logic is not filling my account at the moment.

regards,

frustrated dibs fan
I would suggest you go back to the original thread and look at a backtest that was presented there. The guy who did the backtest didn't care about the news he just did the backtest. If you like the result of that backtest then you shouldn't be looking for guidance - you should just have patience in these trying times. And PC has been doing this for ever (or so it would seem). Try to understand what PC said: we are not looking for a good win/loss ratio, we are looking for low risk entries that has high potential. Try to understand that. Now personally (as I've written here before) I'm not DIBSing so much this week, the few DIBS that I've made have been on higher timeframes and they have been pretty ok. Remember what PC said, not all DIBS are the same. For me the DIBS this week is not the same as a few weeks back because of where the market is. Discretion is another word you should try to understand, that and patience.
  • #3,788
  • Jul 10, 2008 8:37am Jul 10, 2008 8:37am
Quoting aajduk
stopped out as well on the u/c. house, i know you say to trade when there are no major announcements due but its pretty hard when they are out most days of the week. they are quite often out around the 5 or 6 gmt or not long after or they are mid to late session, so they quite often impact on our crucial times.
i am not trying to be negative but with all the restrictions on start times and announcements, it is really hard to find a good dibs set up and when you do it seems you get creamed. give us guidance pleeeaase. i see the logic in dibs but logic is not filling my account at the moment.

regards,

frustrated dibs fan
most traders feel like you are(i do too at times..).
and most will quit. or find a new system. and repeat. and they make up the portion of traders that pay the profitable ones. hell.. lately.. i've been on the losing end of alot of them.

so dont be that trader! keep plugging away at the system. it works.. especially when you hit a nice trend or just a few nice moves.. they can easily wipe away those losses. keeep your head up!

as for the news thing.. i believe housetrader is more experienced w/ me in DIBS.. so i'd go with his advice. for me personally.. i just stay away from the major news bc of volatility and order filling issues.. like nfp and an interest rate statement. or sometimes you'll hear the analysts hyping up a certain report alot on the forums/websites/financial channel. but short of that.. i say take 'em all!
- nick andre -
  • #3,789
  • Jul 10, 2008 8:43am Jul 10, 2008 8:43am
Quoting RichD
Hi Guys

Wonderful method and thread. Top stuff from all the contributers here. Anyway thought I'd drop a post. I just took a trade on aud/usd. I was a bit apprehensive as the aussie has been weak all week and the only reason i took this is due to triple rollover today and seeing bullish divergence. Oh I love using Demark Trendlines with this method. I often find a valid break is poweful when you see DIB setup + trendline break.

I use MT4 for charts and use live money to trade with a spreadbet company. Early days for me with this method.

Anyway lets see how this one pans out.
Hi,
Since you mention De mark trend lines, are you using DIBS with the T De Mark targets (as in Mouteki)?

Just curious,
Ian
  • #3,790
  • Jul 10, 2008 8:43am Jul 10, 2008 8:43am
Quoting NowAndLater
.. For me the DIBS this week is not the same as a few weeks back because of where the market is...
referring to the range we've been in?
- nick andre -
  • #3,791
  • Jul 10, 2008 8:46am Jul 10, 2008 8:46am
Quoting Nick_likes_pips
yea - the news does create that indecision that takes the fuel out of our ferrari. but you never know which news releases will create indecision(not entirely true) or not. either way - trading before news or not.. with greater than 1-to-1 reward to risk.. doesn't really matter that much as long as the edge is in tact. profits shall come. so you can actually buy that ferrari(with fuel) if you so choose

i just stopped out on the usd/chf trade as well. usdjpy is still alive. such is a traders life. waiting. lots of it.
Absolutely true!

Let's say the market is much more "sensitive" to news and speeches, sometimes in the (which we call) the "wrong" direction... (Mr. Market is never wrong...). I've been chasing the market this whole week, but pulled the trigger just a few times... Most of the times I was glad to be sitting on my itching hands...

By the way... isn't Ferrari that red car with a little horse on it?

http://www.dyna.co.za/cars/Car_-_Transport_Horse.jpg

I guess this one I can afford

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,792
  • Jul 10, 2008 8:49am Jul 10, 2008 8:49am
Quoting Nick_likes_pips
referring to the range we've been in?
that among other things
  • #3,793
  • Jul 10, 2008 8:58am Jul 10, 2008 8:58am
Hello,

The question that I ask myself in situations like we are experiencing with the cable and the e/u is...... what is that is motivating to enter this particular trade?....is it the hope of making $$$ or should my motivation be to control risk....stick to the rules?.. sitting on my hands, when I manage to listen to the voice of experience works best in the long run.

Unus pro omnibus, omnes pro uno
  • #3,794
  • Jul 10, 2008 8:59am Jul 10, 2008 8:59am
thank you all for the encouragement. very frustrating at the moment but what makes it worse is that i have only been live trading this system for about 2 weeks. great time to start wasnt it. i have been patient in trying to pick the best dibs potential when faced with a choice of a couple of trades.
the announcement thing is a pain, because as mentioned, when back tested they are ignored so one part of you says ignore them, but then they wipe the floor with you.
anyway, had my sulk, its just a loss and its only money. get over it.

thanks fellow dibsters
  • #3,795
  • Jul 10, 2008 9:02am Jul 10, 2008 9:02am
Quoting NowAndLater
that among other things
ok cool. its a tough balance between finding the use of discretion.. and not OVERanalyzing. still trying to find that balance. gues thats part of the journey
- nick andre -
  • #3,796
  • Jul 10, 2008 9:06am Jul 10, 2008 9:06am
Quoting kimmy
Hey Guys

I am in despair ........loss after loss after loss !!!!

someone just shoot me and put me out of my misery haha

cheers
kim
take urself a break n chk out this one

http://www.forexfactory.com/showthread.php?t=95049
  • #3,797
  • Jul 10, 2008 9:07am Jul 10, 2008 9:07am
Quoting Nick_likes_pips
most traders feel like you are(i do too at times..).
and most will quit. or find a new system. and repeat. and they make up the portion of traders that pay the profitable ones. hell.. lately.. i've been on the losing end of alot of them.

so dont be that trader! keep plugging away at the system. it works.. especially when you hit a nice trend or just a few nice moves.. they can easily wipe away those losses. keeep your head up!

as for the news thing.. i believe housetrader is more experienced w/ me in DIBS.. so i'd go with his advice. for me personally.. i just stay away from the major news bc of volatility and order filling issues.. like nfp and an interest rate statement. or sometimes you'll hear the analysts hyping up a certain report alot on the forums/websites/financial channel. but short of that.. i say take 'em all!
Nice call, Nick

Patience and Persistence are two of the hardest things to learn in trading. I've been out of DIBS for most of last 2 weeks. Took some in higher TF, some in 1H, and took the money off the table ASAP... That's definitely not how PC taught us, but when the market start to show a little more direction, we'll be here celebrating the runners...

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,798
  • Jul 10, 2008 9:21am Jul 10, 2008 9:21am
Quoting aajduk
thank you all for the encouragement. very frustrating at the moment but what makes it worse is that i have only been live trading this system for about 2 weeks. great time to start wasnt it. i have been patient in trying to pick the best dibs potential when faced with a choice of a couple of trades.
the announcement thing is a pain, because as mentioned, when back tested they are ignored so one part of you says ignore them, but then they wipe the floor with you.
anyway, had my sulk, its just a loss and its only money. get over it.

thanks fellow dibsters
I must agree.... Bad time to start it...

The following is directed to all of us, not personally to you, aajduk
Just some things that we must always remember...

One of the biggest trader's murderer is overtrading, which is a consequence of chasing the market, due to lack of patience.

Another killer is jumping all over the systems, when we face a looser day/week... That happens because of the lack of persistence. We all have done it before, (searching frantically for the perfect system/indicators pack...) and that just helps us to join the 90% that are consistently loosing money.

We are far away from being perfect, so are the systems, and this one is great and profitable...

Don't give up, fellows... We'll see better days coming...

Cheers!


HT
Many share my views with me. But I don't share them with them...
  • #3,799
  • Jul 10, 2008 9:31am Jul 10, 2008 9:31am
Quoting kimmy
Hey Guys

I am in despair ........loss after loss after loss !!!!

someone just shoot me and put me out of my misery haha

cheers
kim
Hi Kim,
All I can suggest is watch out where you buy or sell. Don't just blindly enter a trade based on an IB. You need to see on (other time frames as well) where support and resistance is. So generally I would not be keen to buy just below resistance or sell just above support. You may want to delay your entry in these cases to ensure these hurdles are overcome first. The DIBS method works beautifully but it is not a "Holy Grail". Try see if that will improve your success rate. Good luck!
Never argue with a fool....
  • #3,800
  • Jul 10, 2008 9:35am Jul 10, 2008 9:35am
I was very late joining in the fun today as I had to work all night last night. But I made up for it with a quick and successful long position on an IB breakout on just after 14;00 GMT the NZDUSD. I need to catch up on my sleep now so I closed it out when I had 40 pips in the bag. I'm off to sunny India tomorrow for a few days so I hope the hotel internet is good enough for me to do some trading from Mumbai. If not, good luck to you all and I'll catch up with all your adventures in DIBS land next week. Cheers for now!
Never argue with a fool....
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