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The DIBS Method... No Free Lunch continues

  • #5,261
  • Aug 27, 2008 11:16am Aug 27, 2008 11:16am
Quoting Forex007
FXgrinder, could you please post an indicator which you use to identify IBs. Thank you!
it's not my indicator. i adjusted the colors and sizes. good luck w/ it.
Attached File(s)
File Type: ex4 iB_nn.ex4   4 KB | 963 downloads
"Believe nothing you hear and half of what you see." Proverb
  • #5,262
  • Aug 27, 2008 11:19am Aug 27, 2008 11:19am
Quoting Forex007
A quick look at the chart tells (or am I imagining it), that out of those 16 IBs, around a third would lead to losses. Some of the "failed" IBs are over 200 pips in size. Even with good MM in place, watching loosing trades, one after another, for almost two weeks in a row, would "kill the spirit". One could lose all the faith in IBs...

We don't have to trade every IB, of course, but I cannot see from that chart what would filter the bad ones out... Is it just me?..
would you mind putting up a chart of the failed IB's and/or a list of the dates of the IB's you reviewed? (i assume you were looking at the g/j) thanks.
"Believe nothing you hear and half of what you see." Proverb
  • #5,263
  • Edited 12:24pm Aug 27, 2008 11:23am | Edited 12:24pm
Quote
None of us have to let our little secrets out, but I cannot see much point in posting a few "look at my great trades" chart with the "I am not gonna tell you how I did it" attitude. If one doesn't want to share smth, why bring the subject up in the first place?.. Why come to FF?..


Just a simple response;

-I am not sharing for my own benefit

-If the reader finds no benefit in post, of course they are welcome to overlook it.

-I believe in giving back



The 3 inside bars trades I posted all made money and I kid you not; Seeing three inside bars was the only reason I took them.

Simple can be good.

Extra thought:
-Trading the majors with a 4 hour time frame is the only time frame in forex I would use Three inside bars alone as my only reason to enter the market.


Dale
  • #5,264
  • Aug 27, 2008 11:40am Aug 27, 2008 11:40am
Jarroo and others,

Yes, in hindsight perhaps I should have waited for a 4hr candle to close below the support area around 109.20.


Thanks
Unus pro omnibus, omnes pro uno
  • #5,265
  • Aug 27, 2008 12:26pm Aug 27, 2008 12:26pm
entered short eur/usd at circled ib at 1.4710 and took half of my position off the table at the pivot point at 1.4670 for a 40 pip profit and now I am free riding the remaining half lot.
Attached Image (click to enlarge)
Click to Enlarge Name: eur 8-27-08 1.19pm.gif Size: 14 KB
  • #5,266
  • Aug 27, 2008 1:21pm Aug 27, 2008 1:21pm
Quoting BUIGO
entered short eur/usd at circled ib at 1.4710 and took half of my position off the table at the pivot point at 1.4670 for a 40 pip profit and now I am free riding the remaining half lot.
I'm very happy for you but your trade is not following the original petercrown's rules
money... it's a gas baby, can't you take it! venezia
  • #5,267
  • Aug 27, 2008 1:36pm Aug 27, 2008 1:36pm
Quoting Forex007
A quick look at the chart tells (or am I imagining it), that out of those 16 IBs, around a third would lead to losses. Some of the "failed" IBs are over 200 pips in size. Even with good MM in place, watching loosing trades, one after another, for almost two weeks in a row, would "kill the spirit". One could lose all the faith in IBs...

We don't have to trade every IB, of course, but I cannot see from that chart what would filter the bad ones out... Is it just me?..
okay, i went through the gbpjpy from jan 08 (i used this one as a first sample for the reasons stated --- to wit, the failed IB's could be 200 pips in size ...) using the daily charts, monthly as bias. i did this by hand and i am not error proof (feel free to correct me ... gently) ... net pips through today was approx. 2500+ (using SL system strictly). since there was a period of time in june/july where there were 3 big losses in a row, i reasoned that counting pips alone could not give us an accurate picture of how we were doing in realistic terms so, i did a very crude run down of profit potential using account balance, risking 2% per trade (exiting at 1:1 w/ 1% and letting the other 1% run if possible) ... the result was a net gain of 15% ($1000 became $1150 give or take -- despite the rough ride in june/july).

i think as has been stated, nothing is 100% in the forex. sometimes a filter keeps us out when we want to be in and puts us in when we would rather be out... c'est la vie w/ the forex.

the only reason i am really considering the daily is b/c the original DIBS is tough for me being out here on the west coast (if i am understanding the suggested trading hours correctly).

peace and good trading.
"Believe nothing you hear and half of what you see." Proverb
  • #5,268
  • Aug 27, 2008 2:35pm Aug 27, 2008 2:35pm
Quoting jarroo
I filed at Forex Factory court.
The best part about this is i am currently on a jury. Just got on for the lunch break... this made my day.

The crimes are strangely similar... hmmm I wonder if that is you. Hope not... lol things aren't looking to good.
  • #5,269
  • Aug 27, 2008 5:55pm Aug 27, 2008 5:55pm
Quoting jarroo
I missed some trades today. (Damn sleep)
I was thinking of setting up alerts to wake me up
One Chart is Worth Ten Thousand Words.
  • #5,270
  • Aug 27, 2008 6:02pm Aug 27, 2008 6:02pm
Quoting fxgrinder
the only reason i am really considering the daily is b/c the original DIBS is tough for me being out here on the west coast (if i am understanding the suggested trading hours correctly).
I see you point, FXgrinder.

As for 15%, I guess that could be achieved with DIBS in a good months. But we all have different goals - 15% in 8 months is not that bad
One Chart is Worth Ten Thousand Words.
  • #5,271
  • Aug 27, 2008 6:59pm Aug 27, 2008 6:59pm
does anybody know if the dibs trading room that was talked about is functional and active. If so, I would like to download the program and participate.
Trade what you see, not what you think.
  • #5,272
  • Aug 27, 2008 7:01pm Aug 27, 2008 7:01pm
Quoting maestr2
does anybody know if the dibs trading room that was talked about is functional and active. If so, I would like to download the program and participate.
I will be hanging out in the 'DIBS' Trading room open community rooms.

It is always nice to just chat and sometimes get some insightful conversation.
  • #5,273
  • Aug 27, 2008 7:06pm Aug 27, 2008 7:06pm
[quote=Verto;2187796]I will be hanging out in the 'DIBS' Trading room open community rooms.

It is always nice to just chat and sometimes get some insightful conversation.[/quotVerto,
How do you enter the room?All I can get to is contact room owner.Thanks!
  • #5,274
  • Aug 27, 2008 7:09pm Aug 27, 2008 7:09pm
Quoting Verto
I will be hanging out in the 'DIBS' Trading room open community rooms.

It is always nice to just chat and sometimes get some insightful conversation.

agreed, I will download and try to get in before start of frankfurt and london
Trade what you see, not what you think.
  • #5,275
  • Aug 27, 2008 7:15pm Aug 27, 2008 7:15pm
Hi,
I see there are 2 dibs rooms, but only 1 is accessable

why??
  • #5,276
  • Aug 27, 2008 7:18pm Aug 27, 2008 7:18pm
Quoting geoffrod
Hi,
I see there are 2 dibs rooms, but only 1 is accessable

why??
Ummm I'm not sure under "community trading rooms" The active room is DIBS there are two us in there so I'm not sure why you guys cant join. Honestly I'm not very knowledgeable about the trading rooms software so I can't really answer alot of the details.
  • #5,277
  • Aug 28, 2008 1:27am Aug 28, 2008 1:27am
Quoting geoffrod
Hi,
I see there are 2 dibs rooms, but only 1 is accessable

why??
really? I asked for the admission, but noone response me!
money... it's a gas baby, can't you take it! venezia
  • #5,278
  • Aug 28, 2008 4:59am Aug 28, 2008 4:59am
Quoting mrmarco
really? I asked for the admission, but noone response me!
me too
  • #5,279
  • Aug 28, 2008 5:58am Aug 28, 2008 5:58am
How do you ask for permission?
If you log in to Trading Rooms and select Community Trading Room, the "tree" opens and you double click on DIBS and you're in. Not that anyone is right now.
Good Trading
  • #5,280
  • Aug 28, 2008 6:46am Aug 28, 2008 6:46am
Hello,


I am watching the aud/usd 4hr IB with less than 20 min before close. At the moment is butting agaisnt the weekly open line (pink) which is also acting as a significant resistance area ....so I will consider going either way with it. The stop loss will be around 30 pips which is not bad for a 4hr. IB.

More to follow after the close.


Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 16 KB
Unus pro omnibus, omnes pro uno
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