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The DIBS Method... No Free Lunch continues

  • #4,521
  • Aug 6, 2008 3:43am Aug 6, 2008 3:43am
Quoting jarroo
Swissy DIBS.
Stopped out on the Swissy. -13pips (-spread)

Still love these little losses.
Indicators show the past. Price Action "Indicates" the future.
  • #4,522
  • Aug 6, 2008 3:47am Aug 6, 2008 3:47am
Quoting mudskipper
10506 is my entry, one pip below my low, stop is the difference of the previous bar higher at 10522.
May I ask why you take the BID price as a stop? You would be stopped out even if the price did not touch the high of the IB?!

Shouldn't you use the ASK which would be 1.0525 (3 pips spread)?

Regards - Xaron
  • #4,523
  • Aug 6, 2008 3:48am Aug 6, 2008 3:48am
Quoting jarroo
Stopped out on the Swissy. -13pips (-spread)

Still love these little losses.
Why only 13? My high was at 1.0525, the low at 1.0506... Just curious.
  • #4,524
  • Aug 6, 2008 3:50am Aug 6, 2008 3:50am
Quoting Xaron
May I ask why you take the BID price as a stop? You would be stopped out even if the price did not touch the high of the IB?!

Shouldn't you use the ASK which would be 1.0525 (3 pips spread)?

Regards - Xaron
Yes that's what you should do...
  • #4,525
  • Aug 6, 2008 3:51am Aug 6, 2008 3:51am
Quoting Xaron
Why only 13? My high was at 1.0525, the low at 1.0506... Just curious.
Lol mine was 1.0521 - 1.0507... gotta love these different feeds...
  • #4,526
  • Aug 6, 2008 3:51am Aug 6, 2008 3:51am
Quoting jarroo
Stopped out on the Swissy. -13pips (-spread)

Still love these little losses.
stopped out over here too. that'll be all for me tonight. see you guys around. goodnight.
  • #4,527
  • Aug 6, 2008 3:57am Aug 6, 2008 3:57am
Quoting NowAndLater
Lol mine was 1.0521 - 1.0507... gotta love these different feeds...
Yes, the BID high was 1.0521, the BID low was 1.0507...
  • #4,528
  • Aug 6, 2008 3:59am Aug 6, 2008 3:59am
Quoting Xaron
Why only 13? My high was at 1.0525, the low at 1.0506... Just curious.
See chart.
Indicators show the past. Price Action "Indicates" the future.
  • #4,529
  • Aug 6, 2008 4:01am Aug 6, 2008 4:01am
Quoting Xaron
Yes, the BID high was 1.0521, the BID low was 1.0507...
Thought you only meant the IB range. The entry for me would have been 1.0506 with the stop at 1.0526 (4 pip spread).
  • #4,530
  • Aug 6, 2008 4:03am Aug 6, 2008 4:03am
Quoting mudskipper
stopped out over here too. that'll be all for me tonight. see you guys around. goodnight.
Swissy crashed and burned but closed it out manually when the GBP broke the IB to the downside. Quick to B/E on th GBP recovered the loss on the Swissy. All in all a very messy day at the office with just a few pips in the bank after all that hard work. But fun was had and a few more lessons learned. Thanks to all of you for being so generous in your contributions. I'm off to see if my family are still talking to me! Just kidding, catch you good folks tomorrow. Bye.
Never argue with a fool....
  • #4,531
  • Aug 6, 2008 4:07am Aug 6, 2008 4:07am
Quoting tigertrader
Swissy crashed and burned but closed it out manually when the GBP broke the IB to the downside. Quick to B/E on th GBP recovered the loss on the Swissy. All in all a very messy day at the office with just a few pips in the bank after all that hard work. But fun was had and a few more lessons learned. Thanks to all of you for being so generous in your contributions. I'm off to see if my family are still talking to me! Just kidding, catch you good folks tomorrow. Bye.
Very nice to see you were watching the market and based your decisions upon that... Lets see what happens on GU as it's in a tight range, might be so until tomorrows interest rate statement (although I think that is too far away still)
  • #4,532
  • Aug 6, 2008 5:11am Aug 6, 2008 5:11am
I got stopped out on EU aswell as others, quite messy tonight, hope that there will be a substantial breakout 2nite
  • #4,533
  • Aug 6, 2008 5:22am Aug 6, 2008 5:22am
Hello everyone

i am taking the usdchf DIBS ....whichever way it wants to take me

anyone else coming aboard ?
  • #4,534
  • Aug 6, 2008 5:29am Aug 6, 2008 5:29am
Quoting jarroo
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.
Why not exit and re-enter, i.e. once the retracement (especially such as -268 pips ) is noticeable, one could exit and once the trend resumes, join in again. Spread+commissions are nothing compared to the potential "extra" profit.
One Chart is Worth Ten Thousand Words.
  • #4,535
  • Aug 6, 2008 5:40am Aug 6, 2008 5:40am
Quoting kimmy
Hello everyone

i am taking the usdchf DIBS ....whichever way it wants to take me

anyone else coming aboard ?
Which do you mean? There is none, at least not at Oanda and Alpari UK...
  • #4,536
  • Aug 6, 2008 5:49am Aug 6, 2008 5:49am
Quoting Xaron
Which do you mean? There is none, at least not at Oanda and Alpari UK...
I have Alpari and the last bar was an IB, where the high was a matching high with the previous bar
  • #4,537
  • Aug 6, 2008 5:51am Aug 6, 2008 5:51am
Quoting kimmy
Hello everyone

i am taking the usdchf DIBS ....whichever way it wants to take me

anyone else coming aboard ?

Waiting for Cable to break lows after Dibs.

It has been down on all fours for a while but could be bottoming out.

(Cough! )
  • #4,538
  • Aug 6, 2008 5:52am Aug 6, 2008 5:52am
Quoting Xaron
Which do you mean? There is none, at least not at Oanda and Alpari UK...

i have an IB on the 9am GMT candle .....it straddles the open so can go either way
i am with FXDD
  • #4,539
  • Aug 6, 2008 5:53am Aug 6, 2008 5:53am
Quoting Xaron
Which do you mean? There is none, at least not at Oanda and Alpari UK...
Hi

Kimmy is right there is a USD/CHF DIBS. I put a stop buy 5 pips from the high.

Regards
Jimmy Chung
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  • #4,540
  • Aug 6, 2008 5:56am Aug 6, 2008 5:56am
Hi

Got GBP/USD? I put a stop sell. Hope it will work well.

Regards
Jimmy
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