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The DIBS Method... No Free Lunch continues

  • #5,001
  • Aug 19, 2008 8:51pm Aug 19, 2008 8:51pm
Quoting jlmac27
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!

Sorry, I don't have the info available.
Indicators show the past. Price Action "Indicates" the future.
  • #5,002
  • Aug 20, 2008 12:55am Aug 20, 2008 12:55am
I guess the extremely sluggish price action is because a lot of traders are still on holiday. Things should really start to pick up in the next two weeks as they all get back to work.

I entered a short on the AUDUSD around 0600z but got stopped out on a spike up, just a few pips though my stop. I re-entered on another southbound break and price behaved this time. But it was very reluctant to break the 100EMA on the Hourly chart and just a few pips above the Pivot so I closed out the trade to cover my earlier loss. Price is now looking a bit more bullish. Perhaps a lot of the negative sentiment relating to the upcoming interest rate cuts in Oz have already been priced in? The Aussie has sure taken a beating in the past few weeks and may be due for a correction.

I also decided to conform to what most of you are doing and base my trades on the 0600Z open. I did seem to pick up a few extra trades using the 0500z, but mainly on the JPY pairs. The disparity in the trade signals yesterday convinced me to change. We'll see how it goes?

Hope you folks all have a good day.
Never argue with a fool....
  • #5,003
  • Aug 20, 2008 1:58am Aug 20, 2008 1:58am
Market volatility contracts and expands.
  • #5,004
  • Aug 20, 2008 2:20am Aug 20, 2008 2:20am
My sytem completly crashed and i lost some files -1 was the templates file for my strategyfx platform.

Jarroo or anyone else an anyone post the Jarroo template

thanks
  • #5,005
  • Aug 20, 2008 2:36am Aug 20, 2008 2:36am
Quoting censura
My sytem completly crashed and i lost some files -1 was the templates file for my strategyfx platform.

Jarroo or anyone else an anyone post the Jarroo template

thanks
Here it is: http://www.forexfactory.com/showpost...postcount=4640
Anything uploaded to a thread can be found when clicking on the paperclip in the top right hand corner of every thread
  • #5,006
  • Aug 20, 2008 4:40am Aug 20, 2008 4:40am
Hi, any recomendations regarding best suppliers for MT4 type platforms! As I see from your threads someone has written a automatic indicator for mt4 platform.
Thanks.
  • #5,007
  • Aug 20, 2008 4:45am Aug 20, 2008 4:45am
Quoting gaia
Hi, any recomendations regarding best suppliers for MT4 type platforms! As I see from your threads someone has written a automatic indicator for mt4 platform.
Thanks.
I like Alpari, but I think you can use which ever if you are just interested in the demo account to run the indicators, and not open a live account.
  • #5,008
  • Aug 20, 2008 5:06am Aug 20, 2008 5:06am
Quoting skfx
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
Ah lol, thanks. I don't use Oanda so I'm not familiar with their platform. Any chance you know what these lines are?
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  • #5,009
  • Aug 20, 2008 5:16am Aug 20, 2008 5:16am
Hi Mets.

Thats what i thought.There would be no way you would pick up on that if you haven't used OANDA's platform,thats what was knid of funny.lol

I think the small lines may be profit targets(key price zones) that Pete has set,not 100% sure though.I do know for sure that you can draw short dotted lines as shown,there is a good chance Pete has drawn these in.They are not an indicator or pivot line.
Take it easy Mets.


Cheers
Steve
  • #5,010
  • Aug 20, 2008 5:23am Aug 20, 2008 5:23am
Quoting NowAndLater
I like Alpari, but I think you can use which ever if you are just interested in the demo account to run the indicators, and not open a live account.
thanks will take a look, regards.
  • #5,011
  • Aug 20, 2008 10:08am Aug 20, 2008 10:08am
Quoting skfx
Hi Mets.

Thats what i thought.There would be no way you would pick up on that if you haven't used OANDA's platform,thats what was knid of funny.lol

I think the small lines may be profit targets(key price zones) that Pete has set,not 100% sure though.I do know for sure that you can draw short dotted lines as shown,there is a good chance Pete has drawn these in.They are not an indicator or pivot line.
Take it easy Mets.


Cheers
Steve
Thanks again Steve. I take it back, that's not a fractal, it's just an Oanda order entry. He basically trades naked.
  • #5,012
  • Edited 1:45pm Aug 20, 2008 1:43pm | Edited 1:45pm
Quoting gaia
Hi, any recomendations regarding best suppliers for MT4 type platforms! As I see from your threads someone has written a automatic indicator for mt4 platform.
Thanks.
I am currently trialling ATC FX pro. It is a true ECN operation and, I believe, the only ECN with Metatrader.

If you are worried about the company you are with taking opposite sides to your trades then have a look at ATC.

http://www.forexfactory.com/showthre...=85354&page=12
  • #5,013
  • Aug 20, 2008 4:11pm Aug 20, 2008 4:11pm
@Mets.

No worries buddy.Exactly,Pete trades naked and free lol.
Yeah,with OANDA buy entries are small triangles(blue for long,orange for short).If you place a limit order they will be displayed as small squares(blue for a long limit,orange for a short limit) until filled,then turn into a triangle.
Stops are red lines as you have found out.
Sorry for crapping on,i thought maybe it best to explain,that way if you see another OANDA chart somewhere else you know.
Take it easy Mets.

Cheers,
Steve
  • #5,014
  • Aug 20, 2008 7:07pm Aug 20, 2008 7:07pm
Hey there,
I got your reply,I was just wondering if you could even throw out an average win/loss percentage?Something close..60/40 win ratio,70/30? Just some clue.Thank you for your effort here on this thread it is much appreiciated!
  • #5,015
  • Aug 20, 2008 8:14pm Aug 20, 2008 8:14pm
your signature is annoying....

Quoting skfx
Cheers,
Steve
  • #5,016
  • Aug 21, 2008 1:56am Aug 21, 2008 1:56am
hi guys,

we have 2 IB on GU and EU we need a break to the upper side now.

regards tsidki.
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  • #5,017
  • Aug 21, 2008 2:08am Aug 21, 2008 2:08am
Quoting tsidki
hi guys,

we have 2 IB on GU and EU we need a break to the upper side now.

regards tsidki.
Great charts tsidki.

The range or size of the IBs are a bit too big for my book. Remember we are looking for a low risk trades. Don't get me wrong, they very well could work out just fine indeed. I like to see ranges between 10 -25 pips. (depending on the pair).

Nice work.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #5,018
  • Aug 21, 2008 2:10am Aug 21, 2008 2:10am
Quoting jarroo
Great charts tsidki.

The range or size of the IBs are a bit too big for my book. Remember we are looking for a low risk trades. Don't get me wrong, they very well could work out just fine indeed. I like to see ranges between 10 -25 pips. (depending on the pair).

Nice work.

Jim
Thanks Jaroo for clearing things for me .
  • #5,019
  • Aug 21, 2008 2:12am Aug 21, 2008 2:12am
Quoting jlmac27
Hey there,
I got your reply,I was just wondering if you could even throw out an average win/loss percentage?Something close..60/40 win ratio,70/30? Just some clue.Thank you for your effort here on this thread it is much appreiciated!
Peter's quote says it all:

"Win rate is not the most important factor in finding a good trading method. Profit potential/risk is."

DIBS trades will have a low win ratio. That does not mean it won't be profitable.
Indicators show the past. Price Action "Indicates" the future.
  • #5,020
  • Aug 21, 2008 2:23am Aug 21, 2008 2:23am
Quoting jlmac27
Hey there,
I got your reply,I was just wondering if you could even throw out an average win/loss percentage?Something close..60/40 win ratio,70/30? Just some clue.Thank you for your effort here on this thread it is much appreiciated!
This is from a PM exchange I had with PC and he wrote this:

THE SECRET:Only hold on to winners.

Corollary to THE SECRET: Know what a winner looks like.

Find a way to do that and your trading life gets easier.

The best methods ever discovered-- lose many more times than they win. The losses are very small relative to the potential wins.
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