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The DIBS Method... No Free Lunch continues

  • #4,461
  • Aug 5, 2008 6:13am Aug 5, 2008 6:13am
Quoting jarroo
Euro DIBS:
Euro
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,462
  • Aug 5, 2008 6:23am Aug 5, 2008 6:23am
Hi Jarroo..

Did you take to EU Dibs? It is on the weekly low. I took it.. hope for the best.

Regards
Jimmy Chung
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  • #4,463
  • Aug 5, 2008 6:25am Aug 5, 2008 6:25am
Quoting jimmypippy
Hi Jarroo..

Did you take to EU Dibs? It is on the weekly low. I took it.. hope for the best.

Regards
Jimmy Chung
Yes I did.

Good Job jimmy.
Indicators show the past. Price Action "Indicates" the future.
  • #4,464
  • Aug 5, 2008 6:29am Aug 5, 2008 6:29am
Quoting jimmypippy
Hi Jarroo..

Did you take to EU Dibs? It is on the weekly low. I took it.. hope for the best.

Regards
Jimmy Chung
Free trading now jimmy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,465
  • Aug 5, 2008 6:34am Aug 5, 2008 6:34am
Quoting jarroo
Free trading now jimmy.
Hi Jarroo..

Nice to hear from you. Keep up the good post.

Regards
Jimmy
  • #4,466
  • Aug 5, 2008 6:39am Aug 5, 2008 6:39am
Hi Jarroo,
When trading 4H and above time frames IBs, the reference should be the weekly open line, but i couldn't see it on your charts.
Do you use Monday's "Daily open line" as your reference ?
Is that the way to do it?
BR,
Dani M.
  • #4,467
  • Aug 5, 2008 6:48am Aug 5, 2008 6:48am
Quoting dan_mir
Hi Jarroo,
When trading 4H and above time frames IBs, the reference should be the weekly open line, but i couldn't see it on your charts.
Do you use Monday's "Daily open line" as your reference ?
Is that the way to do it?
BR,
Dani M.
When trading IBs on higher time frames I would use more confluences like S/R levels, Trendlines, other Price Action, etc., other then the Weekly or Monthly Open. Although those can be considered.

I'm mainly referring to the James16 Chart Thread;
http://www.forexfactory.com/showthread.php?t=2331

when using higher time frames with IBs.
Indicators show the past. Price Action "Indicates" the future.
  • #4,468
  • Aug 5, 2008 3:33pm Aug 5, 2008 3:33pm
Quoting jimmypippy
Hi Jarroo..

Nice to hear from you. Keep up the good post.

Regards
Jimmy
Hope your still in it jimmy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,469
  • Aug 5, 2008 4:30pm Aug 5, 2008 4:30pm
Quoting jarroo
Hope your still in it jimmy.


I am still in too
  • #4,470
  • Aug 5, 2008 5:46pm Aug 5, 2008 5:46pm
Quoting jarroo
Hope your still in it jimmy.
hi big jaroo,
im also still in since monday (gu)...my rule for dibs counts cos i saw monthly gu bleeding. jaroo can pls give me the blue incator that crosses your chart it looks more like minor and major support resistance lines. please can i taste that indi.....happy hang onDIBS
  • #4,471
  • Aug 5, 2008 6:34pm Aug 5, 2008 6:34pm
Quoting naomi
hi big jaroo,
im also still in since monday (gu)...my rule for dibs counts cos i saw monthly gu bleeding. jaroo can pls give me the blue incator that crosses your chart it looks more like minor and major support resistance lines. please can i taste that indi.....happy hang onDIBS
It's not a indi, but just the rectangle tool on meta trader that I drag and shape along the S/R levels.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,472
  • Aug 5, 2008 6:37pm Aug 5, 2008 6:37pm
Quoting kimmy
I am still in too
Great kimmy. You kept your promise.
Indicators show the past. Price Action "Indicates" the future.
  • #4,473
  • Edited 8:13pm Aug 5, 2008 8:02pm | Edited 8:13pm
Quoting jarroo
Free trading now. 1st half 83 pips.
For thoses of you that have asked: Yes I'm still in the 2nd half of the Eur/Jpy DIBS trade from this morning. I have moved my stop loss to break even. (167.93). But I was hesitant to that. This is now a long term trade for me and if it gets stopped out . . .I Don't Care. It's already been a very profitable trade.

One of the goals (I feel) that we want to reach is that a DIBS trade turns into is a long term trade. Now I know we are still learning and practicing the method but just keep this in mind, my friends.

One of the stresses of long term trading is that a trade will be up +232 pips on one day and down -268 pips the next day, up the next day +188 and down the next -90 pips and so on. One has to be prepared for this and get use to it. Its hard to do, trust me. But this is where the real money is made.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,474
  • Aug 5, 2008 9:08pm Aug 5, 2008 9:08pm
Jarroo

I see a S/R Level on 167.60 that you dont have marked on your charts? Did i something wrong there? I see 3 bounce offs from the past on this level.

Would that be a target to take profits?
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  • #4,475
  • Aug 5, 2008 9:18pm Aug 5, 2008 9:18pm
Quoting Bbfx
Jarroo

I see a S/R Level on 167.60 that you dont have marked on your charts? Did i something wrong there? I see 3 bounce offs from the past on this level.

Would that be a target to take profits?
Yes it would. All S/R levels are good places to enter trades, take profits, set stop losses and trail stops.

I didn't have it marked on my chart.

Please read NowAndLater's post from just a few pages ago. Great info. He mentions this level, 167.60ish.

http://www.forexfactory.com/showpost...postcount=4439
Indicators show the past. Price Action "Indicates" the future.
  • #4,476
  • Aug 5, 2008 9:21pm Aug 5, 2008 9:21pm
A pleasure to learn from you thanks
Please lengthen your message to at least 1 characters.
  • #4,477
  • Aug 5, 2008 9:34pm Aug 5, 2008 9:34pm
Jarro...

Can you please let me know if this is a Master bar...

I got this from this PDF file in this thread....this is the pdf take a look at it please
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File Type: pdf FxBlaster[1].pdf   924 KB | 1,138 downloads


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  • #4,478
  • Aug 5, 2008 9:38pm Aug 5, 2008 9:38pm
Quoting Shermenator
Jarro...

Can you please let me know if this is a Master bar...

I got this from this PDF file in this thread....this is the pdf take a look at it please
Not familar with the Master bar method.
Indicators show the past. Price Action "Indicates" the future.
  • #4,479
  • Aug 5, 2008 11:18pm Aug 5, 2008 11:18pm
Quoting jarroo
For thoses of you that have asked: Yes I'm still in the 2nd half of the Eur/Jpy DIBS trade from this morning. I have moved my stop loss to break even. (167.93). But I was hesitant to that. This is now a long term trade for me and if it gets stopped out . . .I Don't Care. It's already been a very profitable trade.

One of the goals (I feel) that we want to reach is that a DIBS trade turns into is a long term trade. Now I know we are still learning and practicing the method but just keep this in mind, my friends.

One of the stresses of long term trading is that a trade will be up +232 pips on one day and down -268 pips the next day, up the next day +188 and down the next -90 pips and so on. One has to be prepared for this and get use to it. Its hard to do, trust me. But this is where the real money is made.
Hi Jaroo,

You sure have a good handle on this method and your emotions! Trying hard to emulate your style and discipline! Looks like Kimmy has made a gigantic leap forward. Well done!

My only reservation about going short and hanging onto any of the JPY pairs is the cost of carry since they are the opposite of a carry trade ('cause we are selling Eur and buying Yen) so the brokers will apply a charge for the difference in interest rates overnight and higher on weekends. Do you factor this charge in or do you just take the hit and put it down to the cost of doing business?
Never argue with a fool....
  • #4,480
  • Edited 11:58pm Aug 5, 2008 11:35pm | Edited 11:58pm
Quoting tigertrader
Hi Jaroo,

You sure have a good handle on this method and your emotions! Trying hard to emulate your style and discipline! Looks like Kimmy has made a gigantic leap forward. Well done!

My only reservation about going short and hanging onto any of the JPY pairs is the cost of carry since they are the opposite of a carry trade ('cause we are selling Eur and buying Yen) so the brokers will apply a charge for the difference in interest rates overnight and higher on weekends. Do you factor this charge in or do you just take the hit and put it down to the cost of doing business?
Cost of doing business. But its a good point, especially when I think the carry trades will be coming or are coming back. I try to follow where the market is going.
Indicators show the past. Price Action "Indicates" the future.
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