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The DIBS Method... No Free Lunch continues

  • #4,981
  • Aug 19, 2008 6:07am Aug 19, 2008 6:07am
Quoting jarroo
Did you let some ride?
nop as the main trend is still short i reversed at 4695 to short my long closed at 4703
  • #4,982
  • Aug 19, 2008 6:08am Aug 19, 2008 6:08am
hey jarroo, out of curiosity, are you still riding E/J sells?

Thanks

Pred
  • #4,983
  • Aug 19, 2008 6:08am Aug 19, 2008 6:08am
Is anyone going to take this DIBS if it breaks?
  • #4,984
  • Aug 19, 2008 6:11am Aug 19, 2008 6:11am
Quoting Predator38
hey jarroo, out of curiosity, are you still riding E/J sells?

Thanks

Pred
Yes. I have a 1/3 still open.
Indicators show the past. Price Action "Indicates" the future.
  • #4,985
  • Aug 19, 2008 6:19am Aug 19, 2008 6:19am
Quoting jarroo
Yes. I have a 1/3 still open.
Thx - well in that case I hope it breaks out to the downside.
  • #4,986
  • Aug 19, 2008 6:26am Aug 19, 2008 6:26am
Quoting jarroo
Yes. I have a 1/3 still open.
Jarroo,

It seems like you trade E/J fairly often. How has it been for you? I haven't had much luch with the JPY pairs, they seem to move too erratic. but I have to admit, I haven't given them much time. Been working on the G/U, C/U, E/U, and U/CHF mostly.
I still have the G/U long open, closed 3/5ths at 1:1. Sadly it looks like it might retrace back to the open price, I might close it there. I will have to look at the chart at that time, but for now it is a free trade with some $$ banked.

Rusty
  • #4,987
  • Aug 19, 2008 6:26am Aug 19, 2008 6:26am
it was a nice scalp for +15 pips at 4679
  • #4,988
  • Edited 6:53am Aug 19, 2008 6:37am | Edited 6:53am
Well on IBFX charts it looks like U/C is starting to form its 3rd IB in a row. Price is near the upper bound of a slightly bearish channel. Any thoughts on this?? Will it break above this and continue higher? or continue along this channel? If I remember correctly, would this not be forming a 'flag'? If so, I have no idea what it would indicate.

Rusty

Edit: Nevermind, it broke the 2nd IB long
  • #4,989
  • Aug 19, 2008 6:43am Aug 19, 2008 6:43am
Quoting rusty105
Jarroo,

It seems like you trade E/J fairly often. How has it been for you? I haven't had much luch with the JPY pairs, they seem to move too erratic. but I have to admit, I haven't given them much time. Been working on the G/U, C/U, E/U, and U/CHF mostly.
I still have the G/U long open, closed 3/5ths at 1:1. Sadly it looks like it might retrace back to the open price, I might close it there. I will have to look at the chart at that time, but for now it is a free trade with some $$ banked.

Rusty
I really don't favor any pairs. E/J just happen to have better signals at the time.

I didn't take the E/U but did take the G/U.

The thing to remember is don't let a small loss distract you from a potentially big trade.

Good work today.

jim
Indicators show the past. Price Action "Indicates" the future.
  • #4,990
  • Aug 19, 2008 7:28am Aug 19, 2008 7:28am
Thanks for the reply,understood.Good trading!
  • #4,991
  • Aug 19, 2008 7:30am Aug 19, 2008 7:30am
any one in for EJ short?
  • #4,992
  • Edited 10:37am Aug 19, 2008 10:35am | Edited 10:37am
Quoting jarroo
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.
Hi Jarroo,

I make GMT 2 hours behind yours which gives todays Dibs a completely different reading. As I type it is 16.33pm BST. GMT is one hour behind. Please have a look at my chart.
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  • #4,993
  • Aug 19, 2008 10:43am Aug 19, 2008 10:43am
To find GMT one can type "time in GMT" into Google.

Voila!

(currently in Cannes which is one hour ahead of BST!)
  • #4,994
  • Aug 19, 2008 10:56am Aug 19, 2008 10:56am
Quoting eagle_eye
Guys,
I think it would be beneficial to create a system with IB or any other chart pattern (because thats what IB is, just one of many chart patterns) that is mechanical.
IB as a pattern could be mechanical, but as a PA entry point it's quite discretionary. By the time you take into consideration PPZs, news, time of the day, day of the week, etc - it's easier just to check the monitor every 30 min during London session...
One Chart is Worth Ten Thousand Words.
  • #4,995
  • Aug 19, 2008 11:08am Aug 19, 2008 11:08am
Quoting 4FXsake
To find GMT one can type "time in GMT" into Google.

Voila!

(currently in Cannes which is one hour ahead of BST!)

OH Dear! Too much vino!

Jaroo is right - I am wrong on my charts. Please ignore...duh.

  • #4,996
  • Aug 19, 2008 12:47pm Aug 19, 2008 12:47pm
Just thought it might be useful to you guys, there is a small program which I use called FX times by geoff betts! this might be helpful for anyone who has issues re market open times. This gives gmt and all the actual opening times for all the fx markets in a small grid. it takes account of daylight savings etc. Google it or I have got a zip file if anyone wants it.
  • #4,997
  • Aug 19, 2008 1:48pm Aug 19, 2008 1:48pm
jarroo how do you deal with news? Alot of news tends to be released around 8:30 GMT and/or 11-12GMT.

How do you effectively deal with this I'm just wondering.

Don't trade red news but yellow and orange are ok, or don't trade red or orange?
  • #4,998
  • Aug 19, 2008 4:06pm Aug 19, 2008 4:06pm
Quoting Maverick731
jarroo how do you deal with news? Alot of news tends to be released around 8:30 GMT and/or 11-12GMT.

How do you effectively deal with this I'm just wondering.

Don't trade red news but yellow and orange are ok, or don't trade red or orange?
I don't deal with the News. Except the 1st Friday of the month and Interest Rate Ann. Other then that I don't pay attention to News.

Price is News and News is Price.
Indicators show the past. Price Action "Indicates" the future.
  • #4,999
  • Aug 19, 2008 4:25pm Aug 19, 2008 4:25pm
Gbp/Usd DIBS trade from today. I would like to see Price break this level 1.8677ish (Resistence) and then turn into Support. This trade could have caught the trend reversal. Only time will tell.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,000
  • Aug 19, 2008 10:27pm Aug 19, 2008 10:27pm
Hello Jarroo,
I was just wondering if you had a chance,if you could post up your average wins to getting stopped out.And also what percentage you've been gaining with this method.Thank you for your time.Keep up the good work!
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