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The DIBS Method... No Free Lunch continues

  • #4,621
  • Aug 8, 2008 7:11am Aug 8, 2008 7:11am
Quoting NowAndLater
That's what we should do, it makes trading so much easier!
Hey NAL, We just missed I good one this past Monday morning. I thought I'd post a quick chart of this week's Gbp/Usd.

I hope to post a more detailed chart this weekend showing the DIBS method and all of its power on the Gbp/Usd from this week.

Damn neighbor.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,622
  • Aug 8, 2008 7:23am Aug 8, 2008 7:23am
Quoting jarroo
Hey NAL, We just missed I good one this past Monday morning. I thought I'd post a quick chart of this week's Gbp/Usd.

I hope to post a more detailed chart this weekend showing the DIBS method and all of its power on the Gbp/Usd from this week.

Damn neighbor.
I missed it on the DIBS entry, but I have taken it on the overnight range breakout and still riding it. I have a few positions stacked from the past two weeks on all the majors, and because of the huge drop from yesterday I'm in a lot of green, never seen so much in my life
  • #4,623
  • Aug 8, 2008 7:24am Aug 8, 2008 7:24am
Quoting NowAndLater
I missed it on the DIBS entry, but I have taken it on the overnight range breakout and still riding it. I have a few positions stacked from the past two weeks on all the majors, and because of the huge drop from yesterday I'm in a lot of green, never seen so much in my life
Fanastic my friend! Fanastic!

Its just the beginning . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #4,624
  • Aug 8, 2008 7:37am Aug 8, 2008 7:37am
Support it is! Thanks NAL. I was trying to post something smart and look at me now

Quoting NowAndLater
This is what I think he means:
EURUSD had an IB on the 0900GMT-bar. At the time it had reached a free ride, price had about 150 pips left to go to the support around 1.5000. I realise he wrote resistance, and in that case he was talking about the 1.5300-level, but I think he meant the support since he was selling
  • #4,625
  • Aug 8, 2008 7:41am Aug 8, 2008 7:41am
Quoting GoForPip
Support it is! Thanks NAL. I was trying to post something smart and look at me now
At least you have the sell to show for
  • #4,626
  • Aug 8, 2008 7:47am Aug 8, 2008 7:47am
Good Morning Guys n Gals.
My first post on FF, so please bear with me. I was wondering if an IB setup is voided if price spikes/closes beyond where the stoploss location would be if the trade triggers. Basically is the setup voided if the price breeches the SL before triggering the trade. I have read through the posts but maybe I missed it.
Many thanks for your time.
  • #4,627
  • Aug 8, 2008 7:54am Aug 8, 2008 7:54am
Quoting Cdavid
Good Morning Guys n Gals.
My first post on FF, so please bear with me. I was wondering if an IB setup is voided if price spikes/closes beyond where the stoploss location would be if the trade triggers. Basically is the setup voided if the price breeches the SL before triggering the trade. I have read through the posts but maybe I missed it.
Many thanks for your time.
For me it depends on how much it breeches the sl. A few pips and it's still valid, more than that and I'd say that it depends on the pair (how volatile it is), and what my overall view of the pair is.
  • #4,628
  • Aug 8, 2008 8:13am Aug 8, 2008 8:13am
Quoting NowAndLater
This is what I think he means:
EURUSD had an IB on the 0900GMT-bar. At the time it had reached a free ride, price had about 150 pips left to go to the support around 1.5000. I realise he wrote resistance, and in that case he was talking about the 1.5300-level, but I think he meant the support since he was selling

NAL

Thanx. I couldn't see where resistance would enter the equation.

Regards,


BabeFX.
  • #4,629
  • Aug 8, 2008 8:56am Aug 8, 2008 8:56am
Free trade
  • #4,630
  • Aug 8, 2008 9:28am Aug 8, 2008 9:28am
I'm out for this weeks folks. I have just closed all my accumulated positions from the last 2 weeks on the 4 majors for some juicy profits

See ya'll next week!
  • #4,631
  • Aug 8, 2008 11:37am Aug 8, 2008 11:37am
Quoting NowAndLater
Well I think higher timeframes is always important. For every pair I have analysis for M15, H1, H4, D1, and W1.
I attended a "virtual" seminar by Robert Booker y/day (a great guy; he shared many interesting thoughts and tips, including an eye-opening "Booker Bands" concept) and one of the things he said (he is a COUNTERtrend trader) was: "There is always a time-frame that contradicts the one you are working with". Think about it guys - for example, have a look at the enclosed AUD/USD charts which show clear downtrend on H1 and an uptrend on W1.

My point is: sometimes checking too many TFs could not be such a good thing...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud-usd h1 downtrend.jpg Size: 282 KB
Click to Enlarge Name: aud-usd w1 uptrend.jpg Size: 254 KB
One Chart is Worth Ten Thousand Words.
  • #4,632
  • Aug 8, 2008 11:40am Aug 8, 2008 11:40am
Quoting jarroo
hope to post a more detailed chart this weekend showing the DIBS method and all of its power on the Gbp/Usd from this week.
Jaroo, could you please post your chart template. Thank you!
One Chart is Worth Ten Thousand Words.
  • #4,633
  • Aug 8, 2008 1:36pm Aug 8, 2008 1:36pm
Quote
I'm out for this weeks folks. I have just closed all my accumulated positions from the last 2 weeks on the 4 majors for some juicy profits

See ya'll next week!
Congratulations NowAndLatter


Cheers!!
  • #4,634
  • Aug 9, 2008 9:40pm Aug 9, 2008 9:40pm
Quoting shengster
i"m with you on this one i got stopped up too, im still in the trade with /usd/JPY and usd/chf

.i have to set my alarm to 3am to wake me up this morning to check for IB's lol . speaking of alarms is there any code/indicator out there that sounds the alarm when IB forms?
This is my question as well.
  • #4,635
  • Edited 11:45am Aug 10, 2008 11:25am | Edited 11:45am
Quoting Forex007
My point is: sometimes checking too many TFs could not be such a good thing...
If I trade of the H1 timeframe, I will not look at the W1 for trend direction, that wouldn't make any sense imo. The reason I look at the highest timeframes is because they give me good s/r areas (in form of s/r levels, fibs, trendlines and pivot points) as well as showing the candle patterns, and those things I can't see on the H1 timeframe. For me determining the trend is done by looking at a timeframe that is 4-6 times the timeframe I'm trading off, so for trading on H1 I will look for the trend on H4. I'll use lower timeframes, down to M5 and M1 sometimes, to get good entries on some of my trades, but they are still based on the trend of the H4. So that's how I use the different timeframes.
  • #4,636
  • Edited 2:36pm Aug 10, 2008 11:43am | Edited 2:36pm
I realise that I made a mistake by closing all of my positions, and I should definetly have left 1 or 2 left on each pair away from current market price above/below last s/r area in case of a breakout and then moved stoploss to above/below current s/r after the breakout, especially on the EURUSD. My thinking here was that the price is at a huge s/r across many pairs, as well as oil and gold, especially EURUSD's 1.5000. And I didn't want to give back profits to a move through the Asian session on Sunday night, if the price movement thus far had ended here and price started going in the other direction. I might be kicking myself for closing all positions come tomorrow morning when I turn on the screen again and find that price has continued through the s/r. And so what if I had a sweet profit, if there's a further move the profit would be even sweeter, and if not I would have given back some of my profits. But that's how I built up the profit to start off with right?! I will look good if I closed out at maximum profit, but there's no chance of knowing when a run is going to end...
Leason from this: leave emotions outside trading, and let the stoploss do it's thing!

Ok enough rambling! Let's look forward for a nice week!
  • #4,637
  • Aug 10, 2008 12:29pm Aug 10, 2008 12:29pm
Good day to everyone,

As this is my first post on FF i felt it apt to make said post on the thread that has given me the most insight into forex, i am an absolute novice and was temted in the very beginning(approx. 8 weeks ago) to purchase one of these trading systems advertised every where, im glad i didnt because the learning curve i have experienced has not only been eye opening but extremely rewarding, i am learning something new every day (thanks to most of you) and im not sure if it was fate or pure luck that i landed or was directed to the words of wisdom of Mr Peter Crowns and the DIBS method, and similarly to those of Bemac, Jarroo and Now & Later but i am quite positive that the start of my journey down the Forex road has began in the right way with most of the basic fundamentals in place and have a good feeling its going to go from strength to strength, to put in mildly ive become an FX junkie - totally addicted - i thank you for your patience with newbies like myself and more importantly for your time you spend imparting your knowledge, i just hope in the years to come i can give back a small part as you have done....

sorry for rambling, i hope this thread continues for a long time to come..

"there are consequenses to trading correctly....exponential profits -PC-"
  • #4,638
  • Aug 10, 2008 1:12pm Aug 10, 2008 1:12pm
Quoting Brendan
....to put in mildly ive become an FX junkie - totally addicted....
Well you are not alone - and I'm not going to rehab
  • #4,639
  • Aug 10, 2008 3:23pm Aug 10, 2008 3:23pm
Quoting NowAndLater
If I trade of the H1 timeframe, I will not look at the W1 for trend direction, that wouldn't make any sense imo. The reason I look at the highest timeframes is because they give me good s/r areas (in form of s/r levels, fibs, trendlines and pivot points) as well as showing the candle patterns, and those things I can't see on the H1 timeframe. For me determining the trend is done by looking at a timeframe that is 4-6 times the timeframe I'm trading off, so for trading on H1 I will look for the trend on H4. I'll use lower timeframes, down to M5 and M1 sometimes, to get good entries on some of my trades, but they are still based on the trend of the H4. So that's how I use the different timeframes.
Thank you for the clarification, NAL. That makes perfect sense.
One Chart is Worth Ten Thousand Words.
  • #4,640
  • Aug 10, 2008 4:32pm Aug 10, 2008 4:32pm
Quoting Forex007
Jaroo, could you please post your chart template. Thank you!
Sure.
Attached File(s)
File Type: tpl Price.tpl   < 1 KB | 673 downloads
Indicators show the past. Price Action "Indicates" the future.
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