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  • #5,381
  • Sep 5, 2008 4:52am Sep 5, 2008 4:52am
Quoting Verto
The only word I noticed mispelled was 'speling' I think you are off to a good start... haha better than most anyway.

Don't worry about missed trades... most probarly didn't even look for major support. The E/u is currently in a free fall...normally while major support would be respected it doesn't seem to be happening lately. It is a crazy time right now.
still 10 min to go but, it's look good to me

Sell stop at 4232
SL at 4237
  • #5,382
  • Sep 5, 2008 5:00am Sep 5, 2008 5:00am
Quoting hervé
still 10 min to go but, it's look good to me

Sell stop at 4232
SL at 4237

sorry SL at 4257
  • #5,383
  • Sep 5, 2008 5:03am Sep 5, 2008 5:03am
Quoting hervé
sorry SL at 4257
with an instant break right after news came in.
  • #5,384
  • Sep 5, 2008 5:35am Sep 5, 2008 5:35am
Quoting rusty105
Thanks jarooo, but the real applause should be going to you and some of the others who have helped us 'students' with this method.

To follow up a little, 60% was closed at 1.4460 to insure I had something in the bank if it retraced to the SL. Another 20% was closed somewhere around +140 pip, and the rest is just riding along

Rusty

ps I wish I had more days like this!
hi

just one question - how do you guys close positions like this?
if i open a trade with let's say 1 lot then how can one exit at 50% etc?
  • #5,385
  • Sep 5, 2008 6:09am Sep 5, 2008 6:09am
Quoting MKK
hi

just one question - how do you guys close positions like this?
if i open a trade with let's say 1 lot then how can one exit at 50% etc?
This is where Discretion comes in to this discretionary method. I believe Peter said that usually he takes 50% of at 1:1, unless price is moving fast, then he lets the other 50% run free, until it either stops out at the original stop loss level, or he manually closes it based on some factors. I think it is going to be different for everyone. In the begining I was doing exactally as he said. Close 50% at 1:1, and let the rest run free. That is really the beauty of this system, once you reach the 1:1 your risk becomes 0, ZERO, ZIP. if the second 50% retrace to Stop Loss, the two parts cancel out. and you lose nothing, yet gain nothing as well. That may be fine if your account is in the 6 figures, but my account is very small, and I want to build the account. So I take a little more off at the 1:1 point (in number of pips) so if the price retraces to my stop loss, I still banked something for my troubles. If it keeps going like yesterday, and around 16:00 GMT it was ranging around the 1.4360 level, So I took some more off, and banked a little more. My intention was to let the remaining 10% run free, but I got an itch to try a trailing stop, just incase it retraced over night, it did retrace a little, but enough to trigger the trailing stop. If I didn't have the trailing stop in place I would still have that 10% running and a new IB Short at 1.4266, which as I type has reached the 1:1 and 60% was pulled off. and the rest is running free. US Non-farm payroll is at 12:30 GMT, which is usually a good mover, so we will see how todays IB works out

As to how to close a portion of 1 trade. If you are using Metatrader use the close order option, but set the lot size to what you want to close.


Rusty
  • #5,386
  • Sep 5, 2008 6:10am Sep 5, 2008 6:10am
Quoting Verto
with an instant break right after news came in.
took my position off at 4200
to chicken to carry on..... may be I regret it....
  • #5,387
  • Sep 5, 2008 6:14am Sep 5, 2008 6:14am
Quoting hervé
took my position off at 4200
to chicken to carry on..... may be I regret it....
Good trade! I didn't take on any new shorts I have shorts right now from ages ago that I am starting to scale out a little.
  • #5,388
  • Sep 5, 2008 8:56am Sep 5, 2008 8:56am
Quoting Aad
Yes I modified that version a while a go to do the following:

[I added full customizable options (color, size, width, and style) to
the indicator. It now also has the option to be used on any time frame when the "Show DIBS On All Time Frames" option is set to True. DIBS open hours are now more specifically specified...]

But one of the things I could not get rid of is that when you use it on the daily+ time frames is that the hourly lines fill up the chart (this is why I never posted it). Other than that it works though sometimes you might have to refresh the chart to make the days opening line show up but this is an issue that came from the original code and not from mods.

Below are some M15, M30, H4, and Daily charts...
can you please show me how to get the dibs on other time frame .. you can also add pivot 1h,2h.need your help thanx
  • #5,389
  • Sep 5, 2008 9:45am Sep 5, 2008 9:45am
Quoting shaker22a
Thnx 4 quick reply Aad

Could u post it anyway, in mq4, this way someone else ont the board might take a look at it and fix any issues

cheers
Thnx in advance
Quoting avi
can you please show me how to get the dibs on other time frame..
I would but I'm not sure if Jarroo would want me to post the indicator as it may deviate from the hourly setups, but if he's fine with it then I'll post it...
  • #5,390
  • Sep 5, 2008 10:00am Sep 5, 2008 10:00am
Quoting Aad
I would but I'm not sure if Jarroo would want me to post the indicator as it may deviate from the hourly setups, but if he's fine with it then I'll post it...
Absolutely I'm fine with it. Post away.
Indicators show the past. Price Action "Indicates" the future.
  • #5,391
  • Sep 5, 2008 10:38am Sep 5, 2008 10:38am
Quoting jarroo
Absolutely I'm fine with it. Post away.
thanxguys great im waitting
  • #5,392
  • Edited 11:41am Sep 5, 2008 10:55am | Edited 11:41am
Quoting jarroo
Absolutely I'm fine with it. Post away.
Thanks Jarroo,

Folks please note that this indicator was created by LuxInterior and I have simply added/modified some things to it, to fit my needs or testing purposes.

I believe Lux previously stated that he no longer supports this indicator so I decided to tinker (I hope Lux does not mind) a little with it, but there's not much more I can do to it since I'm not really a programmer.

Anyways, I added full customizable options (color, size, width, and style) to this indicator. It now also has the option to be used on any time frame when the "Show DIBS On All Time Frames" option is set to True. Please use that option wisely as it diverts from PC's H1 rules, so use it at your own risk.

I have also added some minor options to the BarClock/CandleTime indicator as I never liked the way it would show the remaining time next to the candle bars on the chart (I like my charts as clean as possible since I got too many fibs on them, lol.). So I put an option to turn it off/on along with color and sizing options, I hope you enjoy that one folks...

Quoting cash4u2
Hello, can anybody tell me how I can thinner the triggerlines of DIBS_TriggerLines1.2.mq4?

thx cash4u2
By the way the reason I added more features to the DIBS TriggerLines v1.2 indicator was because I saw your post and I also wanted to be able to customize it further.

So I looked at he code and made some logical changes to it without knowing anything about MQL4 code. LOL! I usually always have the indicator/identifier on my charts and everything works good except for a minor issue that I stated previously (here) and has been there from the beginning when Lux created the indicator...
Attached File(s)
File Type: mq4 DIBS TriggerLines v1.2a (AAD Mods).mq4   13 KB | 1,075 downloads
File Type: mq4 BarClock (AAD Mods).mq4   3 KB | 797 downloads
  • #5,393
  • Sep 5, 2008 11:50am Sep 5, 2008 11:50am
I have followed this thread for a while, but I have not been able to take advantage. Since I work a full time 9 to 6 job, I cannot be awake during the time needed to follow this method (my time would be 1 AM to start).

But I want to work with this method, back test it, and get it in my head for the day that I am able to trade full time.

I had a question regarding this method. How many pairs do you follow with this method? I know Peter said to pick out the hottest hand, and to trade it, but how many pairs do you look at before picking the hottest hand?

Do you just trade the majors or USD pairs with this method, or do you trade as many as possible?

Thank you for all your hard work in this thread.

T.J.
  • #5,394
  • Sep 7, 2008 12:35am Sep 7, 2008 12:35am
not to discourage ppl, or being a smart ass.

my own analysis/backtests show that this system is not a profitable mechanical system, if we only consider PeterCrown's conditions.

it simply lose money, because an IB could go either up or down, like 50% vs 50%.

then it end up that a trader needs to determine long or short when an IB shows up. So it requires a trader's scrutiny -- at this point, it is not a simple mechanic system.

I believe some of you might input some more conditions to make the DIBS profitable. However, "how to" is still unknown now, I suppose.
  • #5,395
  • Sep 7, 2008 3:17am Sep 7, 2008 3:17am
Quoting charvo
not to discourage ppl, or being a smart ass.

my own analysis/backtests show that this system is not a profitable mechanical system, if we only consider PeterCrown's conditions.

it simply lose money, because an IB could go either up or down, like 50% vs 50%.

then it end up that a trader needs to determine long or short when an IB shows up. So it requires a trader's scrutiny -- at this point, it is not a simple mechanic system.

I believe some of you might input some more conditions to make the DIBS profitable. However, "how to" is still unknown now, I suppose.

You used the Up for day to only trade longs and down for day to only trade shorts, right?

I am just making sure because, yes... an IB might go either up or down, but the main idea is that if it breaks to the "hot hand"/trend of the day that trend will contiue.

I haven't done any especially intense backtesting, but my forward testing so far has been largely profitable. At the same time just in this month alone and august some of the trends of these pairs has been HUGE.
  • #5,396
  • Sep 8, 2008 2:06am Sep 8, 2008 2:06am
I knew there was going to be some good DIBS trades tonight, because I missed the Opens. (Sorry can't post charts, not at home.)
Check the 0500 GMT IBs off the Opens of G/U, G/J, E/J are there any others?
Indicators show the past. Price Action "Indicates" the future.
  • #5,397
  • Sep 8, 2008 2:18am Sep 8, 2008 2:18am
Hi Jarro

They all look solid

Ian
  • #5,398
  • Sep 8, 2008 2:21am Sep 8, 2008 2:21am
Quoting jarroo
I knew there was going to be some good DIBS trades tonight, because I missed the Opens. (Sorry can't post charts, not at home.)
Check the 0500 GMT IBs off the Opens of G/U, G/J, E/J are there any others?
sorry it may be a stupid question , but for a ISB formed at 5 GMT, what opening are you referencing on? (logical way would say that you would use 00:00 GMT?)

thank you hervé
  • #5,399
  • Sep 8, 2008 2:27am Sep 8, 2008 2:27am
Quoting hervé
sorry it may be a stupid question , but for a ISB formed at 5 GMT, what opening are you referencing on? (logical way would say that you would use 00:00 GMT?)

thank you hervé
We (or should I say most of us) use Peter Crowns' Open of the day : 0600 GMT. Please re-read post 1.
Indicators show the past. Price Action "Indicates" the future.
  • #5,400
  • Sep 8, 2008 2:28am Sep 8, 2008 2:28am
Quoting rusty105
but my account is very small, and I want to build the account.

Rusty
My account is also very small, just a mini account with USD250, to play this, have to watch the market like a hawk and can't afford any mistakes and lose any money. Sometimes, just grab a few pips and run.
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