Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

Quoting Dale
What 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.

Dale
You can test that if you want and then report back, just keep in mind that this strategy is for intraday so the 4hour/Daily should usually suffice...
IBfx Sporadic Traded Account... All Time Return: 33.9%
Quoting ekling
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
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.
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.png Size: 121 KB
Hi all,

It's stated according to original PeterCorwn rules, that the opening price for the day is at 06:00 gmt.

what is the correct price for the opening of the week? the price of what hour must I consider?

Thanks
money... it's a gas baby, can't you take it! venezia
Quoting mrmarco
Hi all,

It's stated according to original PeterCorwn rules, that the opening price for the day is at 06:00 gmt.

what is the correct price for the opening of the week? the price of what hour must I consider?

Thanks
Monday 06:00 gmt.
Indicators show the past. Price Action "Indicates" the future.
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!....
Unus pro omnibus, omnes pro uno
Quoting byorkFX
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 been looking into it and my lord! You're right I have correct it by switching broker to an gmt+0. Thank you very much!
Hi All here ...

I can see UJ , CJ and GJ has valid Dibs

whats your opinions?
Never sell @ lower upward channel unless breacked and vise versa .
I have been rather distracted by family, visitors, travel and a rather large typhoon (cyclone) so my trading has been a bit erratic lately. I have not been at all successful the past two weeks and have been stopped out of most of my trades with only one out of the last six bringing in a small profit. I have notices many "false starts" on the IB's of late where they break out and then stall, turn around and do the same in the opposite direction. 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?
Never argue with a fool....
Quoting tigertrader
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?
..stick to your guns. PC commented how important it was to do this through drawdown and of course, with every +ve expectancy strat the same approach applies.

Good trading
Quoting tigertrader
I have been rather distracted by family, visitors, travel and a rather large typhoon (cyclone) so my trading has been a bit erratic lately. I have not been at all successful the past two weeks and have been stopped out of most of my trades with only one out of the last six bringing in a small profit. I have notices many "false starts" on the IB's of late where they break out and then stall, turn around and do the same in the opposite direction. 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?
Break-out strategies overall provide decent low-risk setups - I would not limit myself to inside bars though. Inside bars usually show indecision in the market; when they break to one side or another, it does not mean that there is suddenly a decision that the price will continue in breakout direction.

regards
daytrading
Enter Signature
Thanks daytrading and ChowClown. It's good to have your support at times like this. I'll hang in there because I still think it is a great system and is probably just my lack of focus the past two weeks that have not been good for my trading. No light at the end of the tunnel for the next few weeks either but I'll cut back my position size for a while and see how I go. Thanks again for your support!
Never argue with a fool....
Quoting tigertrader
I'll cut back my position size for a while and see how I go.
Good idea, although you might want to consider holding off live trading altogether until you can devote the extra time again...i've saved a few £ in the past doing this and it's a good way of honing your patience/discipline skills

All the best, whatever you do.
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.
Quoting dwkm
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.
Good job dwkm.

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.
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?
possible 1h IB on GBP/USD in Tminus 1 min
Attached Image
Short GY
time to go short from 194.13

But i have to wait news relase ...
Never sell @ lower upward channel unless breacked and vise versa .
Quoting dwkm
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.
Position closed out at 1.4474 following pre set target profit.

+90 pips for the day.
Quoting dwkm
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?
Mine have been mixed. Depending on the pair, like the Gbp/Usd, you would be having at stellar month.

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.
I sure Dale would approve of these 4 hour Double Inside Bars on the Aud/Usd.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
1 trader viewing now