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The DIBS Method... No Free Lunch continues

  • #5,341
  • Sep 2, 2008 9:17am Sep 2, 2008 9:17am
the interest in this thread seeems to have waned by quite abit
  • #5,342
  • Sep 2, 2008 12:07pm Sep 2, 2008 12:07pm
yes thats true, why?
money... it's a gas baby, can't you take it! venezia
  • #5,343
  • Sep 2, 2008 2:36pm Sep 2, 2008 2:36pm
Quoting dwkm
Position closed out at 1.4474 following pre set target profit.

+90 pips for the day.

Just a couple of quick questions regarding the 4 hour charts.

1. It looks like you start your " new day" at 00:00 BST, but delay your entry until after 07:00 BST (06:00 GMT). I know Peter Crowns would take note of an inside bar before his 0600 deadline, but he wouldn't enter until after 0600.

2. If you are only interested in IBs within the first 6-9 hours of the 0600 open, then you are only watching, say, three bars each day?

3. Do you trade exclusively off the 4 hour chart, or do you trade the one hour IBs too?

Thanks.
  • #5,344
  • Sep 2, 2008 3:06pm Sep 2, 2008 3:06pm
Quoting dwkm
the interest in this thread seeems to have waned by quite abit
entries are set
good trading all
  • #5,345
  • Sep 2, 2008 3:07pm Sep 2, 2008 3:07pm
Quoting dwkm
the interest in this thread seeems to have waned by quite abit
here is the chart
the channel might give some indication as to where it might stop.
Attached Image
  • #5,346
  • Sep 2, 2008 3:16pm Sep 2, 2008 3:16pm
wouldn't it be nice if this were wave 1 of five to come in an implusive correction of the long term trend?
Attached Image
  • #5,347
  • Sep 2, 2008 3:23pm Sep 2, 2008 3:23pm
Quoting mudskipper
here is the chart
the channel might give some indication as to where it might stop.
Are you trading off the one hour IB or the Four hour IB? I can understand taking the 4 hour IB set-up, but it seems a little late in the trading day to look at the one hour set up? Just wondering. . . .
  • #5,348
  • Sep 2, 2008 3:51pm Sep 2, 2008 3:51pm
It probably serves me right.
  • #5,349
  • Sep 2, 2008 4:29pm Sep 2, 2008 4:29pm
mudskipper,

was there any particular reason you didn't take the 1800 inside bar? Sorry for the myriad questions; I have thrashed out Peter Crowns' basic strategy (of course, we don't know his exact exit tactics, but a 20 day SMA was mentioned by him at one point), and I am interested to see some of the interpretations that differ from my own. Just wondering if I missed something. Naturally, you may well have developed your own strategy, loosely based on IB breakouts, which works for you. Just thought I'd ask.
  • #5,350
  • Sep 2, 2008 6:51pm Sep 2, 2008 6:51pm
Quoting extractor
mudskipper,

was there any particular reason you didn't take the 1800 inside bar? Sorry for the myriad questions; I have thrashed out Peter Crowns' basic strategy (of course, we don't know his exact exit tactics, but a 20 day SMA was mentioned by him at one point), and I am interested to see some of the interpretations that differ from my own. Just wondering if I missed something. Naturally, you may well have developed your own strategy, loosely based on IB breakouts, which works for you. Just thought I'd ask.
I took the previous one as we were just pushing the 9h timeframe that PC talks about for the best set-ups. The 1800 candle would be the Japanese session which I find to be a bunch of chop the majority of the time, so I try to avoid trading then altogether.
  • #5,351
  • Sep 2, 2008 9:15pm Sep 2, 2008 9:15pm
H8 timeframe i could understand.... it divides evenly into 24..... you could have the same 3 candles start at the same time each day....

but H9? GIVE ME A BREAK. your H9 will be starting and stopping a different hour each day.... and there are 24 hours to start it.... what hour did PC start his on.... OH.... and what day (that makes a difference)
  • #5,352
  • Sep 3, 2008 12:34am Sep 3, 2008 12:34am
Quoting tdion
H8 timeframe i could understand.... it divides evenly into 24..... you could have the same 3 candles start at the same time each day....

but H9? GIVE ME A BREAK. your H9 will be starting and stopping a different hour each day.... and there are 24 hours to start it.... what hour did PC start his on.... OH.... and what day (that makes a difference)
Had me going for a minute. I took it the same way you did until I read it again. I think by 9 hour timeframe Mudskipper meant the 9 hour window that comprises PC's trading day.

BTW, Tom, Nice Risk management concept you shared. I've been mulling it all day.
  • #5,353
  • Sep 3, 2008 1:20am Sep 3, 2008 1:20am
There seems to be a DIBS trade setting up on the GBPUSD and the EURUSD. Seems like the trade could go either way, however, it may be safer to take the trade if it breakouts to the downside, in the direction of the overall trend.

Jarroo, or any other expert on this topic, could you share your comments on this please. Thank you.

fxpilot
  • #5,354
  • Sep 3, 2008 2:26am Sep 3, 2008 2:26am
Quote
I sure Dale would approve of these 4 hour Double Inside Bars on the Aud/Usd.


Sweet, jarroo


I bet you enjoyed so time off in between the 4 hour bars too


Awsome!!!
  • #5,355
  • Sep 3, 2008 3:47am Sep 3, 2008 3:47am
Quoting Dale
Sweet, jarroo


I bet you enjoyed so time off in between the 4 hour bars too


Awsome!!!
Like your style.
Indicators show the past. Price Action "Indicates" the future.
  • #5,356
  • Sep 3, 2008 4:06am Sep 3, 2008 4:06am
well done to anyone who took the various DIBS off the yen pairs - I took a nap for a few hours and missed all the fun!
  • #5,357
  • Sep 3, 2008 5:06am Sep 3, 2008 5:06am
Quoting extractor
Just a couple of quick questions regarding the 4 hour charts.

1. It looks like you start your " new day" at 00:00 BST, but delay your entry until after 07:00 BST (06:00 GMT). I know Peter Crowns would take note of an inside bar before his 0600 deadline, but he wouldn't enter until after 0600.

2. If you are only interested in IBs within the first 6-9 hours of the 0600 open, then you are only watching, say, three bars each day?

3. Do you trade exclusively off the 4 hour chart, or do you trade the one hour IBs too?

Thanks.
I simply find out the time in my country which the UK markets open. So any time after that or near that where i see an IB forming either on the 4 hour or the 1 hour i would take it theoretically. I do not take IBs formed during the US markets if the markets have already went more then 80 pips in 1 direction during the UK session. I do not really care about the technicalities of what time it is on the trading platform. Simply find out when the big markets open for your own home timing.

Hope this helps
  • #5,358
  • Sep 3, 2008 9:42am Sep 3, 2008 9:42am
Hi,
i hope You get some pips from Aussie, because i somehow missed those dibs



Enjoy


Tom
  • #5,359
  • Sep 3, 2008 2:52pm Sep 3, 2008 2:52pm
I've tried setting up an EA on Meta Trader to runs DIBS trades, but the results are weird. I have read that carrying out automated backtesting can be very unrepresentative of actual trading. Has anyone else had this experience?

Thanks.
  • #5,360
  • Sep 4, 2008 12:28am Sep 4, 2008 12:28am
yes, I'm mannually backtesting first on the euro(usd.

Started in january 2008, for the moment, then go back.

Results are really fine. I'll post , but it's a hard work....
money... it's a gas baby, can't you take it! venezia
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