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The DIBS Method... No Free Lunch continues

  • #4,661
  • Aug 11, 2008 2:59am Aug 11, 2008 2:59am
Quoting jarroo
Usd/Jpy.
Free trading on Usd/Jpy
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,662
  • Aug 11, 2008 3:26am Aug 11, 2008 3:26am
Jarroo - interested to understand why you took that short trade when the open (Refernce BAR - r u using 00:00hrs?) was well below. Surely only long trades were valid on this bar or did you stop/reverse?

This sure is a real interesting method.
  • #4,663
  • Aug 11, 2008 3:29am Aug 11, 2008 3:29am
Quoting jarroo
Stop and reverse at 165.10
Hey Jarroo, seems you may be onto something with that stop & reverse tactic. I missed the downside on the EURJPY but I'm with you on the long. Running free and trailing. A great start to the week!
Never argue with a fool....
  • #4,664
  • Aug 11, 2008 3:29am Aug 11, 2008 3:29am
Quoting jarroo
Stop and reverse at 165.10
Free trading now. Took 2/3 position off.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,665
  • Aug 11, 2008 3:30am Aug 11, 2008 3:30am
Quoting Toccata
Jarroo - interested to understand why you took that short trade when the open (Refernce BAR - r u using 00:00hrs?) was well below. Surely only long trades were valid on this bar or did you stop/reverse?

This sure is a real interesting method.
I (we) us the 0600GMT time for the Open of the Day.
Indicators show the past. Price Action "Indicates" the future.
  • #4,666
  • Aug 11, 2008 3:32am Aug 11, 2008 3:32am
Quoting tigertrader
Hey Jarroo, seems you may be onto something with that stop & reverse tactic. I missed the downside on the EURJPY but I'm with you on the long. Running free and trailing. A great start to the week!
The trade risk was a little high for my liking on the Eur/Jpy, but I went for it.
Indicators show the past. Price Action "Indicates" the future.
  • #4,667
  • Aug 11, 2008 3:32am Aug 11, 2008 3:32am
Quoting jarroo
I (we) us the 0600GMT time for the Open of the Day.
Morning Jarroo, here comes a new week - let's see what we get. Nice to see you up and early and ready to go!
  • #4,668
  • Edited 3:55am Aug 11, 2008 3:35am | Edited 3:55am
Quoting NowAndLater
Morning Jarroo, here comes a new week - let's see what we get. Nice to see you up and early and ready to go!
I should be available for the Open(s) on Mons., Tues., and Weds. if all goes well.
Indicators show the past. Price Action "Indicates" the future.
  • #4,669
  • Edited 3:49am Aug 11, 2008 3:39am | Edited 3:49am
Quoting jarroo
The trade risk was a little high for my liking on the Eur/Jpy, but I went for it.
Same here but it has paid off nicely. What kind of a stop are you using on this pair? I currently have a 25 pip trail but I think that may be too tight for this volaitile pair. Looking at the Weekly chart this may have been an excellent entry for a long term hold, and it's also on the right side of the carry trade. Keen to hear what you think. Just got stopped out as I post this!
Never argue with a fool....
  • #4,670
  • Aug 11, 2008 3:49am Aug 11, 2008 3:49am
Jarroo - thanks for confirmation of time refernce point - somewhere in this lengthy thread there was suggestion that to use 00:00 or 02:00hrs for the JPY pairs. Anyway that's clear now thnx.

How do you handle the "blip" above the high of the IB and prevent yourself being stopped out? Anyway, excellent trade.
  • #4,671
  • Aug 11, 2008 3:57am Aug 11, 2008 3:57am
Quoting tigertrader
Same here but it has paid off nicely. What kind of a stop are you using on this pair? I currently have a 25 pip trail but I think that may be too tight for this volaitile pair. Looking at the Weekly chart this may have been an excellent entry for a long term hold, and it's also on the right side of the carry trade. Keen to hear what you think. Just got stopped out as I post this!
Not trailing my brother. Let it ride until (if) it stops out.
Indicators show the past. Price Action "Indicates" the future.
  • #4,672
  • Aug 11, 2008 4:00am Aug 11, 2008 4:00am
Quoting Toccata
Jarroo - thanks for confirmation of time refernce point - somewhere in this lengthy thread there was suggestion that to use 00:00 or 02:00hrs for the JPY pairs. Anyway that's clear now thnx.

How do you handle the "blip" above the high of the IB and prevent yourself being stopped out? Anyway, excellent trade.
Yes that's true. On the Yens pairs earlier Opens can be used. The 0300 GMT IB was very tradable.

I do tend to enter late on DIBS signals, because of those "blips". I like to see Price moving hard and fast when breaking the signal.
Indicators show the past. Price Action "Indicates" the future.
  • #4,673
  • Aug 11, 2008 4:03am Aug 11, 2008 4:03am
Quoting jarroo
Not trailing my brother. Let it ride until (if) it stops out.
Thanks Jarroo - I gotta learn the discipline to do that. I'm done for the day - family matters and the Olympics are calling. Catch you good folk tomorrow. Cheers!
Never argue with a fool....
  • #4,674
  • Aug 11, 2008 4:09am Aug 11, 2008 4:09am
Possible add-on to Eur/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,675
  • Aug 11, 2008 4:11am Aug 11, 2008 4:11am
Quoting tigertrader
Thanks Jarroo - I gotta learn the discipline to do that. I'm done for the day - family matters and the Olympics are calling. Catch you good folk tomorrow. Cheers!
You'll be doing it before you know it.

You just like bagging thoses quick pips. Nothing wrong with that tiger.
Indicators show the past. Price Action "Indicates" the future.
  • #4,676
  • Aug 11, 2008 4:15am Aug 11, 2008 4:15am
Quoting jarroo
Possible add-on to Eur/Jpy.
This is a bit risky on the 30 min chart. I'm getting carried away with the possible trend. Sorry about that.
Indicators show the past. Price Action "Indicates" the future.
  • #4,677
  • Aug 11, 2008 4:30am Aug 11, 2008 4:30am
Quoting jarroo
This is a bit risky on the 30 min chart. I'm getting carried away with the possible trend. Sorry about that.
Looking at the daily for confirmation the trade will get you in above 165.31 which was a support eariler. Looking at the M15 chart this support seems to be holding so it's a good trade up if it breaks up and the support holds imo
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURJPY M15.JPG Size: 84 KB
  • #4,678
  • Aug 11, 2008 5:16am Aug 11, 2008 5:16am
Quoting NowAndLater
Looking at the daily for confirmation the trade will get you in above 165.31 which was a support eariler. Looking at the M15 chart this support seems to be holding so it's a good trade up if it breaks up and the support holds imo
Thanks NAL.
Indicators show the past. Price Action "Indicates" the future.
  • #4,679
  • Aug 11, 2008 5:24am Aug 11, 2008 5:24am
Quoting jarroo
Possible add-on to Eur/Jpy (30min).
That's better on the Hourly.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,680
  • Aug 11, 2008 5:36am Aug 11, 2008 5:36am
Quoting jarroo
Usd/Jpy.
Added-on possibility. Usd/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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