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The DIBS Method... No Free Lunch continues

  • #5,141
  • Aug 26, 2008 1:37am Aug 26, 2008 1:37am
except the GY, I dont see any DIBS yet, in spite of these great moves. Or am I blind?
We leave no soldier behind.
  • #5,142
  • Edited 2:14am Aug 26, 2008 1:40am | Edited 2:14am
Quoting smatrader
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
Excellent point smat. Your are correct. My thinking was if that level (201.70) breaks, look out belowww. I was willing to take a 23 pip risk, to be in that trade.

4, 6 and 8 hour time frame IBs does require a bigger risk but also requires other confluences of Price Action, S/R levels, trendlines, etc., to support a given trade.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,143
  • Aug 26, 2008 1:43am Aug 26, 2008 1:43am
I am with You on this loose

Tom

Quoting jarroo
Not good on the G/Y stopped out. -24 pips (- spread)
  • #5,144
  • Aug 26, 2008 1:44am Aug 26, 2008 1:44am
Quoting jarroo
Not good on the G/Y stopped out. -24 pips (- spread)
I was in the trade to and was stopped out as well.

Any true 1 hour DIBSest feels your pain. Oh well, there are always more!
  • #5,145
  • Aug 26, 2008 1:47am Aug 26, 2008 1:47am
Quoting Verto
I was in the trade to and was stopped out as well.

Any true 1 hour DIBSest feels your pain. Oh well, there are always more!
Good job guys (those that got in). Little losses is part of the DIBS plan. So, good job.
Indicators show the past. Price Action "Indicates" the future.
  • #5,146
  • Aug 26, 2008 1:59am Aug 26, 2008 1:59am
Quoting jarroo
Excellent point smat. Your are correct. My thinking was if that level (201.70) breaks, look out belowww. I was willing to take a 23 pip risk, to be in that trade.

4, 6 and 8 hour time frame IBs does require a bigger risk but also requires other confluences of Price Action, S/R levels, trendlines, etc., it support a given trade.

Hi Jarroo

It is difficult without the experience to decide whether a DIBBS is a good opportunity when close to S/R levels...as in this case it bounces off it....but as you say, if it breaks through then the Pip m/c is running. That's the beauty of DIBBS small risk for great potential reward

Thanks again for all your efforts along with NowAndLater and others in sharing your trading experience


Ian
  • #5,147
  • Aug 26, 2008 2:04am Aug 26, 2008 2:04am
Quoting smatrader
Hi Jarroo

It is difficult without the experience to decide whether a DIBBS is a good opportunity when close to S/R levels...as in this case it bounces off it....but as you say, if it breaks through then the Pip m/c is running. That's the beauty of DIBBS small risk for great potential reward

Thanks again for all your efforts along with NowAndLater and others in sharing your trading experience


Ian
Well said again smat. That's why if a DIBS trade is near or on a strong S/R level, the risk is small/ potential big.

Even on a stop and reverse, which looks like a good plan to have done on the G/Y tonight.
Indicators show the past. Price Action "Indicates" the future.
  • #5,148
  • Aug 26, 2008 2:05am Aug 26, 2008 2:05am
Quoting jarroo
Excellent point smat. Your are correct. My thinking was if that level (201.70) breaks, look out belowww. I was willing to take a 23 pip risk, to be in that trade.
Look out belowww.
Indicators show the past. Price Action "Indicates" the future.
  • #5,149
  • Aug 26, 2008 2:07am Aug 26, 2008 2:07am
Hi,

Not sure if you guys play this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: pa63.gif Size: 36 KB
  • #5,150
  • Aug 26, 2008 2:10am Aug 26, 2008 2:10am
Quoting jarroo
Look out belowww.
I get the point
  • #5,151
  • Aug 26, 2008 2:12am Aug 26, 2008 2:12am
Just wondering guys,Wouldn't you have had a chance on this trade to take 50% off the table at 1:1,and let the rest ride?Or are you guys taking profit differently?Just to clear up my own confusion.
  • #5,152
  • Aug 26, 2008 2:17am Aug 26, 2008 2:17am
Quoting jlmac27
Just wondering guys,Wouldn't you have had a chance on this trade to take 50% off the table at 1:1,and let the rest ride?Or are you guys taking profit differently?Just to clear up my own confusion.
Actually it was a stop and reverse and then stop and revrse after the first signal. All valid DIBS signals.

The long signal would have gotten you to a free trade.
Indicators show the past. Price Action "Indicates" the future.
  • #5,153
  • Aug 26, 2008 2:17am Aug 26, 2008 2:17am
@ Siam, any pair is valid if it fits the criteria. Peter Crowns says that he palys the 4 majors but keeps an eye out for other big movers, this is one.
@ Jaroo, This is another lookout below should it break, the small SL is worth it!
The customer is always right!
  • #5,154
  • Aug 26, 2008 2:23am Aug 26, 2008 2:23am
Quoting jlmac27
Just wondering guys,Wouldn't you have had a chance on this trade to take 50% off the table at 1:1,and let the rest ride?Or are you guys taking profit differently?Just to clear up my own confusion.
I get a 9 pip spread on G/Y if you don't add in spread then you would but since we add in spread we weren't able too.
  • #5,155
  • Aug 26, 2008 2:29am Aug 26, 2008 2:29am
Quoting jarroo
Actually it was a stop and reverse and then stop and revrse after the first signal. All valid DIBS signals.

The long signal would have gotten you to a free trade.

Sorry for the confument here Jarroo,What do you mena there was a stop and reverse?This IB is the bar right after the open right?..
Verto I see what you are saying thanks!
Attached Image
  • #5,156
  • Aug 26, 2008 2:41am Aug 26, 2008 2:41am
For those that have asked here is the template that I use. (Its just Price).

I sometimes refer to this Identifier (its not an indicator) for DIBS trades.
Attached File(s)
File Type: tpl Price.tpl   < 1 KB | 688 downloads
File Type: mq4 DIBS_TriggerLines1.1.mq4   8 KB | 872 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #5,157
  • Aug 26, 2008 2:58am Aug 26, 2008 2:58am
Quoting jlmac27
Sorry for the confument here Jarroo,What do you mena there was a stop and reverse?This IB is the bar right after the open right?..
Verto I see what you are saying thanks!
The Open of the Day (0600 GMT) was 212.31. I used the 0500 GMT IB off the Open. When the Open is inbetween an IB, a break either way is a vaild DIBS trade.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,158
  • Aug 26, 2008 3:10am Aug 26, 2008 3:10am
Quoting jarroo
The Open of the Day (0600 GMT) was 212.31. I used the 0500 GMT IB off the Open. When the Open is inbetween an IB, a break either way is a vaild DIBS trade.

Got ya! Thanks
  • #5,159
  • Aug 26, 2008 3:49am Aug 26, 2008 3:49am
Quoting jarroo
The Open of the Day (0600 GMT) was 212.31. I used the 0500 GMT IB off the Open. When the Open is inbetween an IB, a break either way is a vaild DIBS trade.
yup, if only the G/J wasn't SO volatile huh? lol

on to the next IBs

Pred
  • #5,160
  • Aug 26, 2008 3:50am Aug 26, 2008 3:50am
On a day like today when there has been some big moves already, with no DIBS. If a DIBS signal comes along, in the same direction, do you take it? EURUSD has gone down >100Pip, and the trend is down. Do you take another short signal, or wait till after a retrace, if any?

Rusty
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