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The DIBS Method... No Free Lunch continues

  • #4,641
  • Aug 10, 2008 3:20pm Aug 10, 2008 3:20pm
Eur/Usd and GBP/USD still open. PSR and trendline used for trailing.
  • #4,642
  • Edited 4:33pm Aug 10, 2008 3:56pm | Edited 4:33pm
I would like to show the DIBS trades for the Gbp/Usd for last week. For those that felt the fustration of July's DIBS trading would have been well rewarded this past week.

The chart clearly shows a very porfitable week with many added positions. There were a few break even trades, meaning being stopped out of a free trade. And some very small loses.

If one had chosen to stop and reverse on a given signal, it would have been the right decision. I am now choosing this option more frequently. The logic being that if you are stopped out for a -13 loss (-spread) why not take the reverse trade? The small risk, high reward is still present.

Note: no DIBS trades were taken after 12:00 PM EST (1600 GMT on my chart)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,643
  • Aug 10, 2008 4:00pm Aug 10, 2008 4:00pm
I missed the 1st DIBS trade on Monday, but caught the 2nd signal for a small profit before being stopped out. I didn't take the reverse trade.

No one knew how profitable that 1st signal would become by the end of the week.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,644
  • Aug 10, 2008 4:06pm Aug 10, 2008 4:06pm
8-05-08, Tuseday were no DIBS trades on the Gbp/Usd.

On Wed., 8-06-08 was a classic DIBs trade and add-on.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,645
  • Aug 10, 2008 4:10pm Aug 10, 2008 4:10pm
Thurs., 8-07-08

This is where a stop and reverse position would have been the right decsion. I beginning to think it is the right decsion to do when the risk is small and with the short term trend.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,646
  • Aug 10, 2008 4:23pm Aug 10, 2008 4:23pm
Fri., 8-08-08.

1st signal would have been a stop and reverse and the 2nd signal, classic DIBS. Notice how DIBS kept us to short only on the IB (2nd signal) because it was below the Open of the day.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,647
  • Aug 10, 2008 5:19pm Aug 10, 2008 5:19pm
Plan
Work
Celebrate
Rest


Congratulations NowAndLatter for doing something very few will ever do.
-learn a method
-make money at it

Congratulations


Best regards


Dale
  • #4,648
  • Aug 10, 2008 11:03pm Aug 10, 2008 11:03pm
Usd/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,649
  • Aug 10, 2008 11:07pm Aug 10, 2008 11:07pm
Eur/Jpy
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,650
  • Aug 10, 2008 11:33pm Aug 10, 2008 11:33pm
Eur/Jpy.

164.65 short.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,651
  • Aug 10, 2008 11:38pm Aug 10, 2008 11:38pm
Quoting jarroo
Thurs., 8-07-08

This is where a stop and reverse position would have been the right decsion. I beginning to think it is the right decsion to do when the risk is small and with the short term trend.
Jaroo, do you mean opening an opposite position IMMEDIATELY after you are stopped out? If so, could it be a good tactics to trade the IB in the "right" direction first, but instead of a stop loss set up a STOP order - that way once the opposite end of an IB is reached, a reverse position is open automatically?

P.S. Thank you for the template.
One Chart is Worth Ten Thousand Words.
  • #4,652
  • Aug 10, 2008 11:40pm Aug 10, 2008 11:40pm
Quoting jarroo
Eur/Jpy.

164.65 short.
its good to see you share charts and show them where and hopefully they understand the whys of the trades
Don't chase the market, Let the market come to you
  • #4,653
  • Aug 10, 2008 11:54pm Aug 10, 2008 11:54pm
Quoting Forex007
Jaroo, do you mean opening an opposite position IMMEDIATELY after you are stopped out? If so, could it be a good tactics to trade the IB in the "right" direction first, but instead of a stop loss set up a STOP order - that way once the opposite end of an IB is reached, a reverse position is open automatically?

P.S. Thank you for the template.
Yes. The stop and reverse would have to be in agreement with a DIBS signal.
Indicators show the past. Price Action "Indicates" the future.
  • #4,654
  • Aug 10, 2008 11:55pm Aug 10, 2008 11:55pm
Usd/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,655
  • Aug 11, 2008 12:05am Aug 11, 2008 12:05am
in with you Jim on UJ!
  • #4,656
  • Aug 11, 2008 12:06am Aug 11, 2008 12:06am
Quoting Trumpcard
in with you Jim on UJ!
Hey Trump, long time no see.
Indicators show the past. Price Action "Indicates" the future.
  • #4,657
  • Aug 11, 2008 12:12am Aug 11, 2008 12:12am
Quoting jarroo
Hey Trump, long time no see.
I'm always hovering around somewhere. Still see your King of the DIBS
  • #4,658
  • Edited 12:47am Aug 11, 2008 12:23am | Edited 12:47am
Quoting Trumpcard
I'm always hovering around somewhere. Still see your King of the DIBS
Gpb/Usd was great for DIBS trading last week. I didn't get them all, but got some.
Indicators show the past. Price Action "Indicates" the future.
  • #4,659
  • Aug 11, 2008 12:53am Aug 11, 2008 12:53am
Quoting jarroo
Eur/Jpy.

164.65 short.
Stop and reverse at 165.10
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,660
  • Aug 11, 2008 12:55am Aug 11, 2008 12:55am
Darn, I missed the EURJPY but took a counter-trend long on the AUDUSD. Struggled at first to go free so I took off 90% early to take the stress out of it and the rest is on a trailing stop. So far it is doing OK.
Never argue with a fool....
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