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The DIBS Method... No Free Lunch continues

  • #4,781
  • Aug 13, 2008 1:29am Aug 13, 2008 1:29am
Am I barking up the right tree?
Weekly uptrend, daily retracement and 1h ib for entry long.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WEEKLY.jpg Size: 129 KB
Click to Enlarge Name: DAILY.jpg Size: 122 KB
Attached Image
Sincere and humble thanks, If.
  • #4,782
  • Aug 13, 2008 1:47am Aug 13, 2008 1:47am
Or am I just barking?
Sincere and humble thanks, If.
  • #4,783
  • Aug 13, 2008 2:02am Aug 13, 2008 2:02am
Hi folks, again the AUDUSD has been kind to me. I took an early DIBS entry when price broke above the inside bar on the 0500Z candle. It quickly shot up 15 pips and I was running free. I set a fixed stop, a bit tight as it turned out, as the trend is mainly down. Stopped out soon after but a good few pips in the bank and an enjoyable trade. Happy 13th trading to you all!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.GIF Size: 20 KB
Never argue with a fool....
  • #4,784
  • Aug 13, 2008 2:06am Aug 13, 2008 2:06am
i will advice going to higher timeframe it seems they work better,am in 500+ profit from a trade i took last week.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,785
  • Aug 13, 2008 2:09am Aug 13, 2008 2:09am
Wow! Just finished posting my last post when the 2 IBs appeared on the EURJPY and GBPJPY. I took them both and within about 5 seconds they were up 25 pips each. Cashed out 80% of my lots and the rest is running free! What a great system this is! Thanks a million to all you good folk for sharing and helping me get a handle of this!
Never argue with a fool....
  • #4,786
  • Aug 13, 2008 2:10am Aug 13, 2008 2:10am
Quoting lordgbengs
i will advice going to higher timeframe it seems they work better,am in 500+ profit from a trade i took last week.
Class Lord simply class
Sincere and humble thanks, If.
  • #4,787
  • Aug 13, 2008 3:40am Aug 13, 2008 3:40am
I have had a great day and have decided to call it quits for today. It sure was a great 13th! Hope you all had great success. Catch you tomorrow.
Never argue with a fool....
  • #4,788
  • Aug 13, 2008 3:55am Aug 13, 2008 3:55am
IB works and it will alwayz work for real bcoz its price action base but i discovered that taking any IB in the direction of the daily trend seems more profitable than any filter already in use.

Wot do u guyz think about this?
  • #4,789
  • Aug 13, 2008 4:16am Aug 13, 2008 4:16am
My filter from the higher timeframes seems to be doing ok. I took the 3am ib on eur/chf because of the higher timeframes and having four hour market flow on my side. But mostly because it was a 10 pip risk.
Gotta love it. Up +30 as we speak but no reason to close.
Sincere and humble thanks, If.
  • #4,790
  • Aug 13, 2008 6:14am Aug 13, 2008 6:14am
If an IB bar appears where the top is ABOVE the open and the bottom is BELOW the open, I think it might be prudent to wait only for a false breakout and then take only the reversal trade. See attached example this morning. I have noticed this happens quite a lot - makes sense really as if the IB bar forms at this level then the price is very undecided!
Attached Image
  • #4,791
  • Aug 13, 2008 6:19am Aug 13, 2008 6:19am
Hi guys,

What are your thoughts on discretionary approach to risk.

Let's take IBs as an example. Risking 1-2% on every PB doesn't make much sense - after all we have some IBs that occur at strong PPZ or confluence points, and are also support by higher TF PA. Why not increase risk to, say, 5% in such cases?
One Chart is Worth Ten Thousand Words.
  • #4,792
  • Aug 13, 2008 6:19am Aug 13, 2008 6:19am
Does anyone have an updated version that works in realtime. I have version 1.1 and 1.2 but both require the chart to be refreshed (switched to another timeframe then back to the 1HR) before valid lines and the alarm sound. I missed that excellent trade on Swissy because I was also doing the day job! Price broke through in the first 5 mins of the new 1hr bar and I simply missed it. Damn.
  • #4,793
  • Aug 13, 2008 6:35am Aug 13, 2008 6:35am
Quoting Toccata
Does anyone have an updated version that works in realtime. I have version 1.1 and 1.2 but both require the chart to be refreshed (switched to another timeframe then back to the 1HR) before valid lines and the alarm sound. I missed that excellent trade on Swissy because I was also doing the day job! Price broke through in the first 5 mins of the new 1hr bar and I simply missed it. Damn.
Try the Jaroo indicator, it should solve the problem.
Attached File(s)
File Type: ex4 Jarroo Indicator.ex4   4 KB | 1,058 downloads
Sincere and humble thanks, If.
  • #4,794
  • Aug 13, 2008 7:17am Aug 13, 2008 7:17am
dibs on the eur
  • #4,795
  • Aug 13, 2008 7:18am Aug 13, 2008 7:18am
long eur
  • #4,796
  • Aug 13, 2008 7:23am Aug 13, 2008 7:23am
I am long this dib and ready to stop and reverse if necessary!
Attached Image (click to enlarge)
Click to Enlarge Name: eur 8-13-08 820am est.gif Size: 13 KB
  • #4,797
  • Aug 13, 2008 7:47am Aug 13, 2008 7:47am
THE 1.A.M EASTERN OPEN IS AT 1.4922 ,so this DIB may be invalid since I would be below the open, am i correct? PLease correct me if am wrong.
thank you!
  • #4,798
  • Aug 13, 2008 7:57am Aug 13, 2008 7:57am
but I know that perhaps I SHOULD NOT HAVE TAKEN THIS EUR DIB LONG since it opened below the open .
  • #4,799
  • Aug 13, 2008 8:14am Aug 13, 2008 8:14am
I will pay attention next time !
  • #4,800
  • Aug 13, 2008 8:35am Aug 13, 2008 8:35am
And I will be going with the established downtrend.
Attached Image (click to enlarge)
Click to Enlarge Name: eur 8-13-08 934am est.gif Size: 14 KB
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