The DIBS Method... No Free Lunch continues | Page 203 | 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

  • #4,041
  • Edited 5:12pm Jul 21, 2008 4:53pm | Edited 5:12pm
Quote
Hi Naija,

If you use oscillators in your trading I would suggest taking only signals in the direction of the trend and when you have entered a support or resistance area. If you take all overbought or oversold signals you will lose more than you win.
seems u didn't understand my point or i was too brief that i didn't make it clear emough for easy comprehension.

u get a very good signal when IB is formed and divergence is fwell spotted, for instance stoch crosses and hook in that direction.

check out daily UJ, 16th july, taken a trade with bullish divergence, with second type IB(hope am not confusing traders here?) fetched 180pips+

an amazing system for those who undertsand how stoch works

here is am example from james but used OB instead of IB
http://www.forexfactory.com/attachme...2&d=1216147376

the result have been awesome
  • #4,042
  • Jul 21, 2008 7:59pm Jul 21, 2008 7:59pm
Quoting Naijafx
I don't mean to deviate from the norm here. just trying to spart-up some thoughts.



Have anybody try to trade IB when formed in the direction of oscillator, spotting divergence for strong move?


Just a thought........


U will be amazed of the result.!


my 100 naira contribution
and i thought i was the only one doing it i've been doing just that.. and have added some rules to take advantage of it. its quite powerful. DIBs trades in the direction of the divergence on the hourly chart can yield some serious pippage since divergence usually precedes a change in trend - aka the beginning of a new trend(short or long-term depending on timeframe). I just havent posted about it because i dont want to deviate from the original method, which is great on its own when you adhere to the money management rules of letting winners run.

i also use it as a filter as to when to stay out of certain DIBs trades. i've always been a divergence trader.. so i just added DIBs to the arsenal and they work well together to make a well-rounded strategy. DIBs to get in with the trend.. and divergence to play counter trend.

Buttt.. i wont post any details of how i do it so as to not clutter the thread with any additions. But you're onto something Naijafx!
- nick andre -
  • #4,043
  • Edited 2:48am Jul 22, 2008 1:56am | Edited 2:48am
Quoting Nick_likes_pips
and i thought i was the only one doing it i've been doing just that.. and have added some rules to take advantage of it. its quite powerful. DIBs trades in the direction of the divergence on the hourly chart can yield some serious pippage since divergence usually precedes a change in trend - aka the beginning of a new trend(short or long-term depending on timeframe). I just havent posted about it because i dont want to deviate from the original method, which is great on its own when you adhere to the money management rules of letting winners run.

i also use it as a filter as to when to stay out of certain DIBs trades. i've always been a divergence trader.. so i just added DIBs to the arsenal and they work well together to make a well-rounded strategy. DIBs to get in with the trend.. and divergence to play counter trend.

Buttt.. i wont post any details of how i do it so as to not clutter the thread with any additions. But you're onto something Naijafx!
I fully agree and, if I'm not mistaken, PC hinted that you could improve the odds of success by combining other indicators. I know I certainly do, using MACD on all timeframes and looking at pivots and S&R generally. I also have been taking profits shorter term as the markets are basically directionless for the time being. Not stricly pure PC but I figure flexibility is the key. I'm not making a fortune out of this (yet?) but a small steady profit overall for the past fours weeks trading on avarage three days a week as my work schedule allows. I am sure that a trending market will fully realise the potential of this method. I hope to be there when it happens.

P.S. While waiting for an IB to form I re-read all of the PC posts and have to retract what I said above about combining indicators. I must have dreamed that one. PC does however say he will use whatever gives him an edge, so I will continue using good old MACD and pivots.
Never argue with a fool....
  • #4,044
  • Jul 22, 2008 4:38am Jul 22, 2008 4:38am
TigerTrader,
I quite agree, I find that pivots and trading in the direction of market flow on the higher timeframes does the trick for me. Other than that I follow PC's rules almost to the letter.
Sincere and humble thanks, If.
  • #4,045
  • Edited 5:50am Jul 22, 2008 4:52am | Edited 5:50am
Hope you folks are doing better than be today. Three very sluggish breakouts. I'm free on the GBPUSD and USDJPY but hanging on breakeven on the NZDUSD which is struggling to break above the M3 pivot, and looking like being stopped out on that one. My initial target is R1 around 0.7630. Probably not liquid enough to trade this method. I've done OK previously on the AUD but the Kiwi seems rather week.

Looks like the market fell asleep this afternoon!

OK finally closed out the Kiwi at breakeven as I lost confidence in the move. Also stopped out of the GBP and JPY. A small profit for the day, but fun was had and the learning process continues. Catch you good folk tomorrow.

Take care and good luck!
Never argue with a fool....
  • #4,046
  • Jul 22, 2008 9:27am Jul 22, 2008 9:27am
I watched the price action all morning.. and it put me to sleep (literally). When I woke back up, the breakout had happened lol.

I think the market makers have a camera at my desk. They wait till the sleep deprivation caught up with me and then made big moves happen.

haha. good day. hope you all got some pips!
- nick andre -
  • #4,047
  • Edited 2:40pm Jul 22, 2008 10:03am | Edited 2:40pm
Trading IB in the direction of stoch when crossesd and hook with either regular or hidden divergence spotted on oscillator have earned me well over 1000pips on dailytime frame across the major+ GBPCHF since last week.


Look into your chart and prove me wrong!


Thanks PC, Jarro for bringing the idea and thanks to james16 for not relenting in teaching PA in his thread

thanks
  • #4,048
  • Jul 22, 2008 11:11am Jul 22, 2008 11:11am
Quoting Naijafx
Trading IB in the direction of stoch when crossesd and hook with either regular or hidden divergence spotted on oscillator have earn me well over 1000pips on dailytime frame across the major+ GBPCHF since last week.


Look into your chart and prove me wrong!


Thanks PC, Jarro for bringing the idea and thanks to james16 for not stop teaching PA on his thread.

thanks
Could u post some screenshots of some trades you took? Some examples would really help me understand how you are using DIBS with the other indicators.

Thanks
  • #4,049
  • Jul 22, 2008 7:12pm Jul 22, 2008 7:12pm
I need this file.

Forex Star.
  • #4,050
  • Jul 23, 2008 1:09am Jul 23, 2008 1:09am
Quoting Forex Star
I need this file.

Forex Star.
wich file?
  • #4,051
  • Jul 23, 2008 2:49am Jul 23, 2008 2:49am
Big moves after I closed out yesterday, but just as well as they were all contra to my direction! Whew! I don't think there were any valid DIBS setups to capture the moves anyway and the sudden volatility was news related. I try stay away from news time as it is very unpredictable.

I would be very keen to see some setups that used Stochastics to validate triggers. Anything we can learn can only be an advantage in the long run.

Looks like another IB building on the GBPUSD. I had a free short trade earlier then got stopped out for about 10 bucks in the green. It then continued down. Grrrrrrrrrrrrr! But there seems to be very strong resistance at "the Figure" of 1.9900 bouncing in about a 40 pip range so I may wait for a definite break of that level before committing again.

Seems there are only a few of us trading right now. The hardy or the foolish few, I'm not sure which? Guess the rest of the gang are on vacation somewhere. Good luck anyway and enjoy the action.
Never argue with a fool....
  • #4,052
  • Jul 23, 2008 5:23am Jul 23, 2008 5:23am
Greetings to everyone, Am new to this business and to FF. Hope by the end of the day, i will be trading better than the best traders here on FF.I need let me say a mentor to put me through some things ( i have the ability to learn things very fast and hope that will apply to forex). I have heard and seen that forex is a risky business. I have been reading the thread,so powerful starting from the first sets of posts and the most recent.Am almost through with PC document (i mean the write-ups). So i like to say thanks to Peter, jarroo, NaL, Moneda, House trader, David, naijafx, ozzie, Alberto, tigertrader, Timex83, Nick, oedi, MPP, Zen, who else have i not mention cos u guys are have been keeping this thread alive. Want u guys to be my friends so that i can learn from u guys. Love. NerryE.
  • #4,053
  • Jul 23, 2008 6:05am Jul 23, 2008 6:05am
Quoting tigertrader
I would be very keen to see some setups that used Stochastics to validate triggers. Anything we can learn can only be an advantage in the long run.
This is my current chart for EJ. Apologies in advance for the deviation from the hrly timeframe on this one.... This is the kind of divergence setup a few here have been alluding to. On the 15, if i don't get an entry within 4 candles of the IB forming, i'll wait for the next setup.

I took this approach from the free information available on babypips. I am not and never have been signed up with James over there. As always, discretion plays a significant part.....as i type, my order has been filled.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 23 Jul 08 (1).GIF Size: 184 KB
  • #4,054
  • Jul 23, 2008 8:27am Jul 23, 2008 8:27am
Chowclown,
were you looking to go short or long?
Rusty
  • #4,055
  • Jul 23, 2008 10:13am Jul 23, 2008 10:13am
Quoting rusty105
Chowclown,
were you looking to go short or long?
Rusty
The pending order in the chart is a long entry... (I use Oanda too)

To me, that was a consolidation to break down..... E/J is in the highs, D1 and 3H Stoch are overbought/diverging down and there are a huge resistance level at 107.00 (at least 3 attempts to break...).... Completely off topic, but I caught the break of the consolidation to the short side, doing fine till now...

Cheers!
Many share my views with me. But I don't share them with them...
  • #4,056
  • Jul 23, 2008 1:44pm Jul 23, 2008 1:44pm
Quote
Greetings to everyone, Am new to this business and to FF. Hope by the end of the day, i will be trading better than the best traders here on FF.I need let me say a mentor to put me through some things ( i have the ability to learn things very fast and hope that will apply to forex). I have heard and seen that forex is a risky business. I have been reading the thread,so powerful starting from the first sets of posts and the most recent.Am almost through with PC document (i mean the write-ups). So i like to say thanks to Peter, jarroo, NaL, Moneda, House trader, David, naijafx, ozzie, Alberto, tigertrader, Timex83, Nick, oedi, MPP, Zen, who else have i not mention cos u guys are have been keeping this thread alive. Want u guys to be my friends so that i can learn from u guys. Love. NerryE
You are welcome, we are all learning. it maybe shocking to you that we might have so much to learn from you. NAL Nice write-up, the EJ went for 2:1, the entry that was indicated in the chart was about two candle stick late. I don't like the currency but the short later was a free ride on VirginNigeria to USA. Good work bro
  • #4,057
  • Jul 23, 2008 4:13pm Jul 23, 2008 4:13pm
Quote
took this approach from the free information available on babypips. I am not and never have been signed up with James over there. As always, discretion plays a significant part.....as i type, my order has been filled.
am I wrong but isn't divergence considered bearish? I could definatly be wrong.

Anyway My name is john and im new to this thread and I wanted to introduce myself and say thank you to all who contribute. Ive been getting my feet wet with this strat and I like it. Im a big fan of price action and ibs and obs are pretty reliable for break out trading. When the market is coiling up its looking for some where to go and when you add that to the powerful stratagy of trading in the direction of the trend its hard to lose.

Besides If your wrong you can do a jacko style recovery or fti style rescue if you are going in the right direction of the overall trend so to me it has good potential.
  • #4,058
  • Jul 23, 2008 4:32pm Jul 23, 2008 4:32pm
Quoting Naijafx
You are welcome, we are all learning. it maybe shocking to you that we might have so much to learn from you. NAL Nice write-up, the EJ went for 2:1, the entry that was indicated in the chart was about two candle stick late. I don't like the currency but the short later was a free ride on VirginNigeria to USA. Good work bro
I'm not sure what you mean that I did here... (If by NAL you mean me)
  • #4,059
  • Jul 24, 2008 4:16am Jul 24, 2008 4:16am
The charts shown in this thread show a short horizontal dotted line, could you please let me know what these are supposed to indicate. I can see the highs and lows for inside bars etc, but these horizontal dotted lines are difficult to understand.

Thank you
  • #4,060
  • Jul 24, 2008 4:32am Jul 24, 2008 4:32am
Quoting wolf69
The charts shown in this thread show a short horizontal dotted line, could you please let me know what these are supposed to indicate. I can see the highs and lows for inside bars etc, but these horizontal dotted lines are difficult to understand.

Thank you
Can you give a link to one of those charts and I'll try and give an answer. But I think that they are the lines for the daily open hour.
6 traders viewing now