DislikedWhat about a test where the only trades filtered by a larger time frame were taken? for example; Dibs filtered by weekly, or monthly criteria. Then see how much money the plan made when the free part of the position was left to ride.
DaleIgnored
The DIBS Method... No Free Lunch continues
- #5,322
- Aug 30, 2008 9:23pm Aug 30, 2008 9:23pm
Im not sure i understand what you are saying. I posted the chart at 10:00 AM (My timezone), and because im at gmt+1 that would mean that its gmt 09:00 AM when i posted my chart, not 07:00 AM.
Im confused
My post and the inital post about your chart was solely to point out that you had a vertical line on your chart which we assumed was your open time at 06:00GMT but it was on the 05:00GMT bar. I don't know which broker you use or what your local time zone is, but the vertical line on your chart was definitely at 05:00GMT. I'll post an chart from OANDA which is in GMT since OANDA allows the user to set the time zone of the chart. I'll also re-post your original chart so you can compare. The OANDA chart has the crosshair at 04:00GMT and I have added arrows to the 05:00GMT bar and 06:00GMT bar.
The original poster and I are only trying to help. I don't want to take up any more space on this thread so I will not post again on this topic.
- #5,324
- Aug 31, 2008 7:21am Aug 31, 2008 7:21am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #5,325
- Aug 31, 2008 8:06am Aug 31, 2008 8:06am
Aad, Forex007 and others
Everyone involved in this discussion has made some good points and it will be up to each individual to use it in the way that fits their style and personality. In my case I prefer to work on things that help me deal with those crucial moments in trading this very unpredictable market, when my judgement struggles with discipline, emotional irrationality and dogma. It has been my experience that the majority of the time what keeps me from being succesful in Forex is what lies between my ears and not the method that I am using. PC told us many times that you can be succesful even if you win less than 50% of your trades....I had a two month period using a different approach where I won over 90% of my trades and still lost money
... Iam laughing now but not then!... Of course, others may reach their goals by applying themselves differently "there are many roads to Rome"...or something like that...
I want to be the Forrest Gump of Forex!....
Everyone involved in this discussion has made some good points and it will be up to each individual to use it in the way that fits their style and personality. In my case I prefer to work on things that help me deal with those crucial moments in trading this very unpredictable market, when my judgement struggles with discipline, emotional irrationality and dogma. It has been my experience that the majority of the time what keeps me from being succesful in Forex is what lies between my ears and not the method that I am using. PC told us many times that you can be succesful even if you win less than 50% of your trades....I had a two month period using a different approach where I won over 90% of my trades and still lost money
... Iam laughing now but not then!... Of course, others may reach their goals by applying themselves differently "there are many roads to Rome"...or something like that... I want to be the Forrest Gump of Forex!....
Unus pro omnibus, omnes pro uno
I apologize for the confusion - I knew I should not have put in the part about your post time since it would be confusing.
My post and the inital post about your chart was solely to point out that you had a vertical line on your chart which we assumed was your open time at 06:00GMT but it was on the 05:00GMT bar. I don't know which broker you use or what your local time zone is, but the vertical line on your chart was definitely at 05:00GMT. I'll post an chart from OANDA which is in GMT since OANDA allows the user to set the time zone of the chart. I'll also re-post your original chart so you can compare. The OANDA chart has the crosshair at 04:00GMT and I have added arrows to the 05:00GMT bar and 06:00GMT bar.
The original poster and I are only trying to help. I don't want to take up any more space on this thread so I will not post again on this topic.
I have correct it by switching broker to an gmt+0. Thank you very much! 
- #5,327
- Sep 1, 2008 4:12am Sep 1, 2008 4:12am
- | Joined Aug 2008 | Status: Trader | 1,210 Posts
Never sell @ lower upward channel unless breacked and vise versa .
- #5,329
- Sep 1, 2008 7:43am Sep 1, 2008 7:43am
Maybe I'm being paranoid, but are there some traders out there now specifically trading against the DIBS breakouts? If so they are doing very well. Your impressions?
Good trading
- #5,332
- Sep 1, 2008 10:57am Sep 1, 2008 10:57am
I'll cut back my position size for a while and see how I go.
All the best, whatever you do.
- #5,334
- Edited 12:56pm Sep 2, 2008 2:22am | Edited 12:56pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
4 hour chart IB on EURUSD>
Sell 1.4564
SL 1.4597
Take 1/2 profit : 1.4535
Shift Stop Loss on other 1/2 to break even
Take other 1/2 profit : 1.4476 for (3:1 risk reward ratio)
If not, hold position and cross our fingers for a further downward run.
I wish more people would take the time to write out a simple trade plan as you have done.
Nice work.
Jim
Indicators show the past. Price Action "Indicates" the future.
- #5,337
- Sep 2, 2008 3:20am Sep 2, 2008 3:20am
- | Joined Aug 2008 | Status: Trader | 1,210 Posts
Never sell @ lower upward channel unless breacked and vise versa .
- #5,339
- Sep 2, 2008 5:08am Sep 2, 2008 5:08am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
yea.. i've been out for a while. only started to take note of the markets today again.
i happened to see it the moment i switched it on. how has the past month been for DIBS Jaroo?
If you took the Aug. 4th Gbp/Usd DIBS trade (I missed it.
) And let the other half ride you would be up close to 2000 pips!!http://www.forexfactory.com/showpost...postcount=4314
Indicators show the past. Price Action "Indicates" the future.
- #5,340
- Sep 2, 2008 8:15am Sep 2, 2008 8:15am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I sure Dale would approve of these 4 hour Double Inside Bars on the Aud/Usd.
Indicators show the past. Price Action "Indicates" the future.