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  • #5,121
  • Aug 25, 2008 5:41am Aug 25, 2008 5:41am
Anybody having fun yet? Another great DIBS Monday.
Indicators show the past. Price Action "Indicates" the future.
  • #5,122
  • Aug 25, 2008 5:50am Aug 25, 2008 5:50am
Yeeeeessss Having fun

Best,
Tom

Quoting jarroo
Anybody having fun yet? Another great DIBS Monday.
  • #5,123
  • Aug 25, 2008 5:58am Aug 25, 2008 5:58am
Quoting Forex007
Is that with 1% risk?
No, actually its 3% risk, im not comfortable with any higher.
  • #5,124
  • Aug 25, 2008 6:03am Aug 25, 2008 6:03am
Quoting jarroo
Anybody having fun yet? Another great DIBS Monday.
Monday was indeed surprisingly good - over 200 pips across 5 pairs, with the biggest risk of 30 pips (GBP-CHF). BTW, Jaroo, EJ and UJ are still "flirting", with no big moves.
One Chart is Worth Ten Thousand Words.
  • #5,125
  • Aug 25, 2008 6:04am Aug 25, 2008 6:04am
Quoting Forex007
Monday was indeed surprisingly good - over 200 pips across 5 pairs, with the biggest risk of 30 pips (GBP-CHF). BTW, Jaroo, EJ and UJ are still "flirting", with no big moves.
Nice 007.
Indicators show the past. Price Action "Indicates" the future.
  • #5,126
  • Aug 25, 2008 6:09am Aug 25, 2008 6:09am
Quoting ekling
No, actually its 3% risk, im not comfortable with any higher.
Ekling, were you using large (i.e. more than the IB length) SL for that trade? I.e. you made 280 pips what was 20% of your a/c (14 pips = 1%). But the risk was 3% >> 42 pips (yet, IB was less than 20 pips in length). Just curious. Thanks!
One Chart is Worth Ten Thousand Words.
  • #5,127
  • Aug 25, 2008 9:21am Aug 25, 2008 9:21am
Quote
Hello everyone,

I have not put a post for a while but continue to follow this great thread... I have been focusing on trading DIBS on the 4hr timeframe and I was wondering if anyone else is trading this way. Would you mind sharing your experience?

I like using the four hour time frames for my trading, at one time I spent several years watching the 5 minute charts of the S&P & Bonds. When I got back into trading I promised myself I would not do so again.

I like being able to walk away from my trades while managing them through EA's at the same time. For me this has been better for any of the mehods I might trade. I am currently using some of concepts Peter mentions as a final filter to my own set ups & longer term strategies

Dale
  • #5,128
  • Edited 1:49pm Aug 25, 2008 10:37am | Edited 1:49pm
Quoting Dale
I like using the four hour time frames for my trading, at one time I spent several years watching the 5 minute charts of the S&P & Bonds. When I got back into trading I promised myself I would not do so again.

I like being able to walk away from my trades while managing them through EA's at the same time. For me this has been better for any of the mehods I might trade. I am currently using some of concepts Peter mentions as a final filter to my own set ups & longer term strategies

Dale
Dale,

Thanks.... If my memory is right, Peter C. said that the DIBS or anyother succesful method can be traded with different timeframes..... (Update: found the post by PC)


Post #39

A method is pretty hard to trust if it only works on one timeframe.

For the 4/6/8 hour charts and daily charts you check to see if you are up or down versus last week's close. Take buys if you are above, sells if you are below.

Monthly position can also be checked, depending on how long term you are willing to be. Personally, I am not willing to remain in a trade 1 minute longer than absolutely necessary if it is going against me, but I'm willing to hold for months if a trade is going my way in a larger trend. Swings and all. You do get used to them after you start collecting some gargantuan profits.

For me trading the DIBS on the 4hr allows for a less stressful process of analysing/evaluating price action and as long we use proper money management it should be ok. The biggest asset of this method for me is that it gives me a solid structure to work from thus giving me an opportunity to develop the discretion/judgement required for success. Time will tell...

Thanks again for your reply
Unus pro omnibus, omnes pro uno
  • #5,129
  • Aug 25, 2008 11:50am Aug 25, 2008 11:50am
Quoting Dale
I like using the four hour time frames for my trading, at one time I spent several years watching the 5 minute charts of the S&P & Bonds. When I got back into trading I promised myself I would not do so again.

I like being able to walk away from my trades while managing them through EA's at the same time. For me this has been better for any of the mehods I might trade. I am currently using some of concepts Peter mentions as a final filter to my own set ups & longer term strategies

Dale
Dale,

Can we share your strategies? Thanks

Lily
  • #5,130
  • Aug 25, 2008 1:42pm Aug 25, 2008 1:42pm
Quoting swakop
Hi everyone,
I´m usdchf short @ 1.0989; SL 1.1002.
Many thanks for this great thread.
But this trade was still above daily open. One should only take longs then, right?
  • #5,131
  • Aug 25, 2008 1:54pm Aug 25, 2008 1:54pm
Here's a easy to modify calc for DIBS.

(the TTO stuff is a reminder for me because I use EFX. Change it to whatever you want)
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Attached File(s)
File Type: zip DibsCalc.zip   2 KB | 813 downloads
  • #5,132
  • Aug 25, 2008 2:15pm Aug 25, 2008 2:15pm
Quoting MKK
But this trade was still above daily open. One should only take longs then, right?
The daily open price is shown in swakop's chart as the red vertical line (the one to the right). Remember that the daily open is taken at 0600GMT
  • #5,133
  • Aug 25, 2008 3:45pm Aug 25, 2008 3:45pm
Quoting NowAndLater
The daily open price is shown in swakop's chart as the red vertical line (the one to the right). Remember that the daily open is taken at 0600GMT
Sorry, I completely forgot that. I guess I was looking my own trades the rong way too then.

thanks for reminding me that
  • #5,134
  • Aug 25, 2008 11:00pm Aug 25, 2008 11:00pm
Quoting MKK
But this trade was still above daily open. One should only take longs then, right?
I hope, the chart helps.

Welcome, Steffen
Attached Image
  • #5,135
  • Aug 25, 2008 11:07pm Aug 25, 2008 11:07pm
Gbp/Jpy
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,136
  • Aug 25, 2008 11:17pm Aug 25, 2008 11:17pm
Quoting jarroo
Gbp/Jpy
currently short on GBPJPY based on this DIBS, daily charts shows downtrend is still intact, however, this is a volatile pair!

GLTA

Pred
  • #5,137
  • Aug 26, 2008 12:43am Aug 26, 2008 12:43am
Hello Jarroo,
PC had like four pairs he traded exclusively.How are you coming along trading these other pairs?As the gbp/jyp?And also do you guys have a trading room?Thanks for your time.
  • #5,138
  • Aug 26, 2008 12:49am Aug 26, 2008 12:49am
Quoting jlmac27
Hello Jarroo,
PC had like four pairs he traded exclusively.How are you coming along trading these other pairs?As the gbp/jyp?And also do you guys have a trading room?Thanks for your time.
I do the majors and some Yen pairs. Coming along very well. No trading room.
Indicators show the past. Price Action "Indicates" the future.
  • #5,139
  • Aug 26, 2008 12:51am Aug 26, 2008 12:51am
Quoting jarroo
Gbp/Jpy
Not good on the G/Y stopped out. -24 pips (- spread)
Indicators show the past. Price Action "Indicates" the future.
  • #5,140
  • Aug 26, 2008 1:29am Aug 26, 2008 1:29am
Quoting jarroo
Not good on the G/Y stopped out. -24 pips (- spread)
Hi Jarro

Not wishing to be wise after the event but looking at the 4hr chart weren't you shorting into S/R at 201.70/80?

Also having read the entire thread, some are trading the higher TF's (4 and 8)........Is it still the same S/L philosphy, ie bottom of IB if going long and top of bar going short, i.e. much greater S/L than hourly time frame?

Ian
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