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The DIBS Method... No Free Lunch continues

  • #4,961
  • Aug 18, 2008 7:46pm Aug 18, 2008 7:46pm
The two dibs from earlier today on the EURJPY are looking extremely good for me now ...

Thanks Jarroo for posting those charts, it helps newer guys to this system, such as myself, to pull the trigger... It's making sense now...

Also, EURJPY is approaching it's previous low on the daily chart...if that low gets broken, it'll be a nice ride in my opinion

Pred
  • #4,962
  • Aug 18, 2008 8:45pm Aug 18, 2008 8:45pm
Hello
I have read most of this thread.My question to you guys is do you enter on the break of the high or low of the candle prior to the IB or do you enter on the break of the high or low of the IB?Also do you wait for the third candle to close before entry? Thanks for the help in advance!
  • #4,963
  • Aug 18, 2008 9:15pm Aug 18, 2008 9:15pm
Quoting jlmac27
Hello
I have read most of this thread.My question to you guys is do you enter on the break of the high or low of the candle prior to the IB or do you enter on the break of the high or low of the IB? You enter at the break of the IB. Also do you wait for the third candle to close before entry? Thanks for the help in advance! No waiting for it to close you just enter as soon as the IB is broken.
Hope that answers your questions.
  • #4,964
  • Aug 18, 2008 11:24pm Aug 18, 2008 11:24pm
@Mets.

Hows things?
Quote
In the final analysis, the power of DIBS does not lie in individual trades, but rather in the accumulation of positions over time in the direction of a trend, with IBs as entry points. Peter never gave us an exit strategy. In order to get the most profits, you have to let your trades run, and if you play every candle you'll kill your trade and use up any gains in stop outs.
100% agreed.Excellent point.He identifies this as the difference between having average gains and exceptional gains.The difference between an average trader and a professional.


Quote
and some weird red line that I'm not sure about that's somehow tied to the Fractal.

On OANDA's platform that weird red line lol,is a stop loss.It looks as if Pete has placed his stop @BE.

Cheers,
Steve
  • #4,965
  • Aug 19, 2008 3:36am Aug 19, 2008 3:36am
Hi,
I was just wondering if anyone could help me just clarify if this chart below shows an IB for short. As I understand my DIBS pointer should have shown an IB formation but it hasnt. Am I missing something?
Also is my daily pointer calculated to the right 6GMT time please? I am in the UK and all my charts show different time calculations, I use the WHC platform
thanks
xrunner
Attached Image (click to enlarge)
Click to Enlarge Name: dibs.gif Size: 24 KB
  • #4,966
  • Aug 19, 2008 3:45am Aug 19, 2008 3:45am
Quoting xrunner
Hi,
I was just wondering if anyone could help me just clarify if this chart below shows an IB for short. As I understand my DIBS pointer should have shown an IB formation but it hasnt. Am I missing something?
Also is my daily pointer calculated to the right 6GMT time please? I am in the UK and all my charts show different time calculations, I use the WHC platform
thanks
xrunner
That's a long entry that has been triggered.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,967
  • Aug 19, 2008 3:50am Aug 19, 2008 3:50am
Sorry that was the E/U. This is G/U very similar.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,968
  • Aug 19, 2008 4:14am Aug 19, 2008 4:14am
Long @ 1.8586
looking a little sluggish but we will see

Rusty
  • #4,969
  • Aug 19, 2008 4:33am Aug 19, 2008 4:33am
Quoting rusty105
Long @ 1.8586
looking a little sluggish but we will see

Rusty
The whole darn market seems a bit sluggish today! I am currently showing IBs on EURUSD, GBPUSD, AUDUSD & NZDUSD. All are for sells but have also all been broken on the upside and the shorts are all near or at support. So far today I have done a lot of sitting on my hands. How are the rest of you folks shaping up today?
Never argue with a fool....
  • #4,970
  • Aug 19, 2008 4:41am Aug 19, 2008 4:41am
Didnt take that long. I believe market is still in downtrend and also is bellow daily pivot which usually means the market is going down. Currently im looking to short cable or euro
  • #4,971
  • Aug 19, 2008 4:49am Aug 19, 2008 4:49am
Quoting tigertrader
The whole darn market seems a bit sluggish today! I am currently showing IBs on EURUSD, GBPUSD, AUDUSD & NZDUSD. All are for sells but have also all been broken on the upside and the shorts are all near or at support. So far today I have done a lot of sitting on my hands. How are the rest of you folks shaping up today?
I was also under the impression that the EU trade was a short, but jarroo just just mentioned in the post above that it shows a long and not a short. Now I am confused, can someone clarify this please?
I have got the concept right but on occasion I get this confused between the shorts and longs, and it seems I am not the only one,
any help clarifying this please?
xrunner
Attached Image (click to enlarge)
Click to Enlarge Name: dibs.gif Size: 25 KB
  • #4,972
  • Aug 19, 2008 4:58am Aug 19, 2008 4:58am
Quoting xrunner
I was also under the impression that the EU trade was a short, but jarroo just just mentioned in the post above that it shows a long and not a short. Now I am confused, can someone clarify this please?
I have got the concept right but on occasion I get this confused between the shorts and longs, and it seems I am not the only one,
any help clarifying this please?
xrunner

The Open of the Day at 0600 GMT was 1.4660. The IB was at 0700 GMT. Price broke the top of the IB at 1.4665.

Hope this helps.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,973
  • Aug 19, 2008 5:00am Aug 19, 2008 5:00am
Quoting xrunner
I was also under the impression that the EU trade was a short, but jarroo just just mentioned in the post above that it shows a long and not a short. Now I am confused, can someone clarify this please?
I have got the concept right but on occasion I get this confused between the shorts and longs, and it seems I am not the only one,
any help clarifying this please?
xrunner

Hi Guys,

I'm new here I just finish reading 100 pages.

xrunner,

I think jaroo consider the market open price as the 6:00 GMT canldle open
Price so thats means we r long.

Edit: Jaroo replyed just befor me sorry.

regards tsidki " TS".
  • #4,974
  • Aug 19, 2008 5:01am Aug 19, 2008 5:01am
Quoting xrunner
I was also under the impression that the EU trade was a short, but jarroo just just mentioned in the post above that it shows a long and not a short. Now I am confused, can someone clarify this please?
I have got the concept right but on occasion I get this confused between the shorts and longs, and it seems I am not the only one,
any help clarifying this please?
xrunner
Using 0600Z the IB straddles the open so you could use a break in either direction. I use 0500Z so on my chart I would only trade it short (also in line with the current trend). It is not a brilliant short as price is hovering around S1. Good luck.
Never argue with a fool....
  • #4,975
  • Aug 19, 2008 5:14am Aug 19, 2008 5:14am
anybody in the sell on the USDS/JPY! Interesting, only a buy on the 05.00gmt and only a sell on the 06.00gmt! you takes your choice.
the great ugly contest on currencies! the usd less ugly than the rest! God help us.
  • #4,976
  • Aug 19, 2008 5:21am Aug 19, 2008 5:21am
Quoting gaia
anybody in the sell on the USDS/JPY! Interesting, only a buy on the 05.00gmt and only a sell on the 06.00gmt! you takes your choice.
the great ugly contest on currencies! the usd less ugly than the rest! God help us.
Looks like a nice clean trade - hang in there buddy!
Never argue with a fool....
  • #4,977
  • Aug 19, 2008 5:21am Aug 19, 2008 5:21am
this is my chart settings as I use the same settings as jaroo based on my time zone +2.

also I use the S_R indicator to make it easy for me to directly spot the Supply/Demand or Suport/Resistance areas and if u notice price just retrace from the red lines = Suport and dark green is Resistance.

I attached the S_R indi I hope this will help.

Regards tsidki " TS ".
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Aug. 19 13.13.gif Size: 33 KB
Attached File(s)
File Type: mq4 S_R_lines.mq4   19 KB | 802 downloads
  • #4,978
  • Aug 19, 2008 5:57am Aug 19, 2008 5:57am
E/U and G/U DIBS trades looking strong.
Indicators show the past. Price Action "Indicates" the future.
  • #4,979
  • Aug 19, 2008 6:01am Aug 19, 2008 6:01am
yah it was nice i just took my +35pips and out
  • #4,980
  • Aug 19, 2008 6:02am Aug 19, 2008 6:02am
Quoting tsidki
yah it was nice i just took my +35pips and out
Did you let some ride?
Indicators show the past. Price Action "Indicates" the future.
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