The DIBS Method... No Free Lunch continues | Page 199 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

  • #3,961
  • Jul 17, 2008 4:41am Jul 17, 2008 4:41am
Quoting mbah_sangkil
I am sorry if my question sounds stupid.

Do we trade the Inside Bar start from 00.00 GMT to 06.00 GMT, or after 06.00 GMT?

Thanks
After 0600GMT (for some like me we trade from 0500GMT). Take the time to read through the first post of this thread, and read the links to other posts as well, most important read the originators post (PeterCrowns).
  • #3,962
  • Jul 17, 2008 4:42am Jul 17, 2008 4:42am
Quoting NowAndLater
GU IB below dailyopen and broke up - no trade
EU, UC, UJ is possible but it's buying into a (small) resistance and not "easy" to get to free ride so I didn't enter them, UJ is still pending
...i am still in UJ, but did not take the EU because of that TL there. But when i look to UC, it doesn't move down as it should beeing the inversal pair to EU. So i still hope the EU comes down, the UC goes up and so both IBs could be traded.

...uuups, during I wrote this, it seems to be not a good idea.

NaL, when the upmove in EU is to long, you would not take the IB when price comes back and wait for a new signal, do i remember one of your posts right?
regards, Michael
  • #3,963
  • Jul 17, 2008 4:43am Jul 17, 2008 4:43am
Quoting mbah_sangkil
I am sorry if my question sounds stupid.

Do we trade the Inside Bar start from 00.00 GMT to 06.00 GMT, or after 06.00 GMT?

Thanks
06.00 GMT is the "beginning" of the day. Price at 06.00GMT is the daily open for this method, so you're going to trade 'after' that hour.
  • #3,964
  • Jul 17, 2008 4:51am Jul 17, 2008 4:51am
The only setup I'm looking at now is a USDCHF long that hasnt triggered yet... still consolidating. It's moving sideways.. but the range is at the top of yesterday's move.. so that's bullish with the odds favoring a long breakout. So i'll let DIBS put me in if it starts to rally. Anyone else thinking of taking that one if it triggers(which it doesnt look like it will at this point...) ?

Other than that, the rest of the setups dont look too great and i wont be taking any of them.
- nick andre -
  • #3,965
  • Jul 17, 2008 4:53am Jul 17, 2008 4:53am
Quoting manto
...i am still in UJ, but did not take the EU because of that TL there. But when i look to UC, it doesn't move down as it should beeing the inversal pair to EU. So i still hope the EU comes down, the UC goes up and so both IBs could be traded.

...uuups, during I wrote this, it seems to be not a good idea.

NaL, when the upmove in EU is to long, you would not take the IB when price comes back and wait for a new signal, do i remember one of your posts right?
regards, Michael
If it breaks the IB to the "wrong" side - it depends on how much it breaks. A few pips is ok imo, more than that and I'll leave it.

"So i still hope the EU comes down". Don't hope anything just to get a trade, that's part of chasing trades, and that's never good. What will be will be - leave hoping and praying outside of your trading.
  • #3,966
  • Edited 5:29am Jul 17, 2008 4:57am | Edited 5:29am
Quoting Nick_likes_pips
The only setup I'm looking at now is a USDCHF long that hasnt triggered yet... still consolidating. It's moving sideways.. but the range is at the top of yesterday's move.. so that's bullish with the odds favoring a long breakout. So i'll let DIBS put me in if it starts to rally. Anyone else thinking of taking that one if it triggers(which it doesnt look like it will at this point...) ?

Other than that, the rest of the setups dont look too great and i wont be taking any of them.
USD dropping across the majors and no trades will be added. On the early trades, GU has been stopped out as well (BE) and UC and UJ has been moved sl to entry point to capture a small win on these.

EDIT: *holding that thought*
We are approaching lunch hours, so I'll just sit tight and await NY session without moving the sl.
  • #3,967
  • Jul 17, 2008 5:04am Jul 17, 2008 5:04am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting juicyt
Hi guys, I've been looking around for a while and just can't seem to find a simple IB indicator that works on any time frame. Is it possible that someone can either direct me to one or make one. And whilst I'm putting in a request, if someone does decide to make one if it could have an audible alarm attached to it that would be awesome.

Thanks...
not sure how to add the alarm, but this one shows IB's that are also have equal high's and lows
Attached File(s)
File Type: mq4 IBv2.mq4   3 KB | 1,052 downloads
  • #3,968
  • Jul 17, 2008 5:36am Jul 17, 2008 5:36am
Seems I just got stopped into the USDCHF Long. Now it's just gotta break the range to the upside and I should be all set Lol. if only it were that easy. Anyone else in this one?
- nick andre -
  • #3,969
  • Jul 17, 2008 5:44am Jul 17, 2008 5:44am
Quoting Nick_likes_pips
Seems I just got stopped into the USDCHF Long. Now it's just gotta break the range to the upside and I should be all set Lol. if only it were that easy. Anyone else in this one?
Nick,

It seems that u/chf bounced of some resistance area of 1.0190 (6 touches atm going back to yesterday @ 18gmt)... we will see.... good luck

Unus pro omnibus, omnes pro uno
  • #3,970
  • Jul 17, 2008 5:47am Jul 17, 2008 5:47am
Quoting Nick_likes_pips
Seems I just got stopped into the USDCHF Long. Now it's just gotta break the range to the upside and I should be all set Lol. if only it were that easy. Anyone else in this one?
http://www.forexfactory.com/showpost...postcount=3959
  • #3,971
  • Jul 17, 2008 5:53am Jul 17, 2008 5:53am
Quoting NowAndLater
http://www.forexfactory.com/showpost...postcount=3959
lol - i love the answer with the link. yeah - saw the resistance there.. im keeping this trade on a short leash. its making another go at the resitance as i type.. if it breaks, im tightening my stop so the SL is minimal.

since the range formed at the top of yesterdays move.. a long breakout is more likely so im just using DIBS to try to catch a piece of that. high risk reward... but we shall see
- nick andre -
  • #3,972
  • Jul 17, 2008 6:16am Jul 17, 2008 6:16am
and for the record.. i am officially a little girl when it comes to trading. for today anyway... lol. I took out the larger part of the position at +0 because i saw a red candle that scared me and trading psychology got the best of me.
guess i'm not immune to newbie mistakes. still got a small position in there. i have an incredibly small risk compared with the potential profit.. so we shall see if i can catch the daily range.

time to look for other opportunities.. since i wimped out of this one!
- nick andre -
  • #3,973
  • Jul 17, 2008 6:38am Jul 17, 2008 6:38am
Hey Nick,

Don't be so hard on yourself is better to know oneself and adjust one's trading to it than trading under delusional thoughts about who we are! Hang in there....this is a long process for most of us.
Unus pro omnibus, omnes pro uno
  • #3,974
  • Jul 17, 2008 6:48am Jul 17, 2008 6:48am
Quoting Nick_likes_pips
lol - i love the answer with the link. yeah - saw the resistance there.. im keeping this trade on a short leash. its making another go at the resitance as i type.. if it breaks, im tightening my stop so the SL is minimal.

since the range formed at the top of yesterdays move.. a long breakout is more likely so im just using DIBS to try to catch a piece of that. high risk reward... but we shall see
Sry didnt mean to be rude, just thought it was faster answer...
  • #3,975
  • Jul 17, 2008 6:49am Jul 17, 2008 6:49am
Quoting moneda
Hey Nick,

Don't be so hard on yourself is better to know oneself and adjust one's trading to it than trading under delusional thoughts about who we are! Hang in there....this is a long process for most of us.
thanks for the kind words moneda. yea - we all have our moments. i wont complain much, because yesterday i traded like a champ and racked up a few percentage points. guess itll take time before i can be a trading champ everyday

still have 1/3 of the original position open.. and i'm keeping it on a tight leash. the current stop is above my entry so the risk is out of it. will just let it run until it stops out or until i get greedy and grab some pips!

Otherwise boring day in the world of DIBs.
- nick andre -
  • #3,976
  • Jul 17, 2008 6:55am Jul 17, 2008 6:55am
Quoting NowAndLater
Todays trades with USD bias:
5:01GMT UJ 2GMT IB, buy @ 1.0498, sl 1.0476, BE (2/3 at 2:1) 1.0509
6:05GMT GU 3GMT IB, sell @ 2.0003, sl 2.0026, BE 1.9991
6.05GMT UC 3GMT IB, buy @ 1.0158, sl 1.0142, BE 1.0166
6:15GMT EU 3GMT IB, sell @ 1.5844, sl 1.5862, BE 1.5835 --- stopped out at BE
Why USD bias: because of yesterdays move, and price is following a shortterm channel, and some minor s/r, fibs and pivots
GU and EU stopped out at BE. UJ and EC is currenlty running with more then 1% gain each. UJ is at a major support/resistance around 105.65. If it starts going down I'm moving stops on both UJ and EC since they are slighlty correlated.
  • #3,977
  • Jul 17, 2008 6:56am Jul 17, 2008 6:56am
Quoting NowAndLater
Sry didnt mean to be rude, just thought it was faster answer...
lol, no actually it was quite hilarious. nothing but a link... contradicting the trade i just took haha. thats awesome.

well i think im pretty much done for the day. nothing is jumping off the charts screaming 'trade me' at the moment.. so you all have a good day !
- nick andre -
  • #3,978
  • Jul 17, 2008 7:00am Jul 17, 2008 7:00am
Quoting Nick_likes_pips
lol, no actually it was quite hilarious. nothing but a link... contradicting the trade i just took haha. thats awesome.

well i think im pretty much done for the day. nothing is jumping off the charts screaming 'trade me' at the moment.. so you all have a good day !
Yeah, I barely will put on a trade after the first hours after the daily open, I'll just manage the opened ones...
  • #3,979
  • Jul 17, 2008 7:03am Jul 17, 2008 7:03am
Quoting Nick_likes_pips
thanks for the kind words moneda. yea - we all have our moments. i wont complain much, because yesterday i traded like a champ and racked up a few percentage points. guess itll take time before i can be a trading champ everyday

still have 1/3 of the original position open.. and i'm keeping it on a tight leash. the current stop is above my entry so the risk is out of it. will just let it run until it stops out or until i get greedy and grab some pips!

Otherwise boring day in the world of DIBs.
If I were in the usd/chf trade, I'd probably be wary of 1.0220.
Attached Image
  • #3,980
  • Jul 17, 2008 7:05am Jul 17, 2008 7:05am
Hey guys,

Need clarification...

Trend is determined by open of the 6GMT candle right?
But what about the "normal" daily close at 0:00??

According to Peter both of them needs to be in Line for a buy/sell trade.

What i see is at the close of the 0:00 candle and all the way to 5:00 or 6:00 the trend is already formed.

So what if we have a uptrend formed from 0:00 to 6:00 but the next candle from 6:00 open is downwards? Wouldnt that mean selling??
Please lengthen your message to at least 1 characters.
2 traders viewing now