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The DIBS Method... No Free Lunch continues

  • #5,401
  • Sep 8, 2008 2:32am Sep 8, 2008 2:32am
Still trying to digest when to long and when to short the DIBS. Have read the 1st post and the link to the earlier thread but still can't figure out. Perhaps a diagram can help.

What I did now is to place pending orders for both long and short. However, this is quite risky I suppose.

Thank you.
  • #5,402
  • Sep 8, 2008 2:40am Sep 8, 2008 2:40am
Quoting Fumiryu
Still trying to digest when to long and when to short the DIBS. Have read the 1st post and the link to the earlier thread but still can't figure out. Perhaps a diagram can help.

What I did now is to place pending orders for both long and short. However, this is quite risky I suppose.

Thank you.
Try this post.

http://www.forexfactory.com/showpost...2&postcount=37
Indicators show the past. Price Action "Indicates" the future.
  • #5,403
  • Sep 8, 2008 2:46am Sep 8, 2008 2:46am
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?
The G/U and G/J stop losses were too wide (50+ pips) for my tastes.
Good free riders though for sure.
  • #5,404
  • Sep 8, 2008 3:31am Sep 8, 2008 3:31am
Quoting jarroo
Try this post.

http://www.forexfactory.com/showpost...2&postcount=37



http://i6.photobucket.com/albums/y24...rex/EURGBP.jpg

The above chart with the red arrow is where I identified as the IB and I placed both long and short positions. Next, the market triggered my short position and I deleted my pending order for long position. The market then went up and hit my SL.

2 questions came to my mind:

1. Based on the trend, I see it as a downtrend when Europe and London market open at GMT0600hrs. I should just enter short position, am I correct? Or did I interprete wrongly?

2. Should I leave the long pending order instead of deleting it when the short pending order engages?

Please advise. Thank you.
  • #5,405
  • Sep 8, 2008 4:03am Sep 8, 2008 4:03am
Anyone else on board the EURJPY short? I only traded 3 lots and took 2 off as soon as I had 10 pips in the bag. That only gave me a 20 pip stop but luckily it held. So far it is riding very nicely.
Never argue with a fool....
  • #5,406
  • Sep 8, 2008 5:15am Sep 8, 2008 5:15am
Quoting jarroo
We (or should I say most of us) use Peter Crowns' Open of the day : 0600 GMT. Please re-read post 1.
hi Jarroo

thank you for taking time for your reply.

there was a inside bar this morning at 5GMT on the GPD USD and when you see the move after it's very tempting, and I noticed that is not the first time this 5GMT DIBS is happening.

just wanted to know with your experience if you would consider this situation?

let me know if this subject is out of the original rules and I will not carry this discussion...
  • #5,407
  • Sep 8, 2008 5:44am Sep 8, 2008 5:44am
Quoting hervé
hi Jarroo

thank you for taking time for your reply.

there was a inside bar this morning at 5GMT on the GPD USD and when you see the move after it's very tempting, and I noticed that is not the first time this 5GMT DIBS is happening.

just wanted to know with your experience if you would consider this situation?

let me know if this subject is out of the original rules and I will not carry this discussion...
With all due respect I strongly suggest you read the entire thread before asking questions that have been asked and answered numerous times. There is no easy ride and Jaroo has already given you a strong hint, so please do your homework before asking these questions.
Never argue with a fool....
  • #5,408
  • Sep 8, 2008 5:45am Sep 8, 2008 5:45am
DIBS + Monday gaps = $$$$$
  • #5,409
  • Sep 8, 2008 7:14am Sep 8, 2008 7:14am
Quoting Fumiryu
Still trying to digest when to long and when to short the DIBS. Have read the 1st post and the link to the earlier thread but still can't figure out. Perhaps a diagram can help.

What I did now is to place pending orders for both long and short. However, this is quite risky I suppose.

Thank you.
Fumiryu, start here: http://www.babypips.com/
One Chart is Worth Ten Thousand Words.
  • #5,410
  • Sep 8, 2008 7:26am Sep 8, 2008 7:26am
Quoting Forex007
Fumiryu, start here: http://www.babypips.com/
Hi Forex007,

Can I know what is the relationship between the DIBS and babypips website? I just need to know more about the market open thing and base on that, carry out pending orders. If there is a diagram to illustrate when to long and when to short about the market open thing, that will be good.
  • #5,411
  • Sep 8, 2008 7:40am Sep 8, 2008 7:40am
Quoting Fumiryu
Hi Forex007,

Can I know what is the relationship between the DIBS and babypips website? I just need to know more about the market open thing and base on that, carry out pending orders. If there is a diagram to illustrate when to long and when to short about the market open thing, that will be good.
Read thge thread - the whole thread like everyone else instead of being a baby and asking everyone to hold your hand! The answers are all there. But you have to read it and understand it yourself!
Never argue with a fool....
  • #5,412
  • Sep 8, 2008 7:50am Sep 8, 2008 7:50am
Quoting tigertrader
Read thge thread - the whole thread like everyone else instead of being a baby and asking everyone to hold your hand! The answers are all there. But you have to read it and understand it yourself!
Is there any body have a position on the 11 GMT GBP USD DIBS?
  • #5,413
  • Sep 8, 2008 8:08am Sep 8, 2008 8:08am
Quoting Trumpcard
DIBS + Monday gaps = $$$$$

DIBS Monday + Monday gaps + Jarroo not available to Play the Open= $$$


Isn't that always the case.
Indicators show the past. Price Action "Indicates" the future.
  • #5,414
  • Sep 8, 2008 8:09am Sep 8, 2008 8:09am
Quoting hervé
Is there any body have a position on the 11 GMT GBP USD DIBS?
I had and I loss, thats why the more I am trying to figure out how to apply it correctly.

By the way, at GMT1100hrs, there is also one more setup in the USD/JPY pair, and also loss that one, just touched SL and then went down again. Sad.
  • #5,415
  • Sep 8, 2008 8:12am Sep 8, 2008 8:12am
Quoting jarroo
DIBS Monday + Monday gaps + Jarroo not available to Play the Open= $$$


Isn't that always the case.
Cheer up Jarroo! There are plenty more DIBS setups just waiting to form in the future - you can't catch 'em all. Pretty much like deep sea fishing, although the Japanese are having a really good go at catching them all, however, I digress...

I'm done for the day so I'll sign off and see you good folk tomorrow. Happy dibbing!
Never argue with a fool....
  • #5,416
  • Sep 8, 2008 8:33am Sep 8, 2008 8:33am
Quoting jarroo
DIBS Monday + Monday gaps + Jarroo not available to Play the Open= $$$


Isn't that always the case.
yep, but for once I caught half of one! exited all trades on the retrace even though some gaps weren't filled. Here are the Euro ones. I missed the IB but entered around the yellow dotted line and caught half the move, using a small stop size and 1% risk. Still a very nice start to the week.

Congratulations to anyone who caught the full move!
Attached Image
  • #5,417
  • Sep 8, 2008 8:47am Sep 8, 2008 8:47am
Quoting Fumiryu
I had and I loss, thats why the more I am trying to figure out how to apply it correctly.

By the way, at GMT1100hrs, there is also one more setup in the USD/JPY pair, and also loss that one, just touched SL and then went down again. Sad.
As much as I hate to repeat it you really should "read the thread from the start"

Now that that has been said again let me try to help everyone so new people understand this time thing. Instead of everyone writing the time you begin to look for dibs, why doesn't everyone just say "we look for dibs at the opening of the UK session" or the "Euorpean session" whichever you are using. No need to work anything out then, just go to a market open clock and it will tell you.

(that's my 2 cents done and done)
"Even if you fall down face first, you still went forward."
  • #5,418
  • Sep 8, 2008 9:58am Sep 8, 2008 9:58am
Quoting tigertrader
Cheer up Jarroo! There are plenty more DIBS setups just waiting to form in the future - you can't catch 'em all. Pretty much like deep sea fishing, although the Japanese are having a really good go at catching them all, however, I digress...

I'm done for the day so I'll sign off and see you good folk tomorrow. Happy dibbing!
Nice tiger. That Eur/Jpy was a classic DIBS trade. Looks like your starting the week off just right. I love it when Price breaks hard and strong on the next bar. Beautiful.

Your right, many more DIBS trades to come.
Indicators show the past. Price Action "Indicates" the future.
  • #5,419
  • Edited 1:58pm Sep 8, 2008 1:41pm | Edited 1:58pm
At first thanks to Jarroo for starting this thread and ofcource Peter who shared dibs with us and everyone who has contributed here and the original thread. I came across with dibs right at the start of this thread but I just didn't have enough time to really concentrate it. But few weeks back I gave dibs another go since I thought it's time to clean up my charts of indicators and keep it simple. So I started with the original thread and after that read this through and at the same time I was making notes, looking charts and taking few trades. Finally I finished this yesterday.

So what I did after all that reading? I took EU short this morning and it's doing gooood... ~300 pips at the moment. And what I'm going to do next? (NEWBIES TAKE A NOTE!) I'm gonna read my notes, posts and charts I've saved and then practise this with my microaccount. I really like dibs and I'm sure I'm able to take profits from markets with it. I just need to practise more and find my edge. No Free Lunch there!

Well, it's 9:40pm here and there just started some old Bruce Willis movie on TV I wanted to see so I see you all tomorrow!

- finnfx

ps. Oh, and if someone is wondering, finn comes from word finnish (Finland)
If you want to win you need a Finn (an old English saying from the 60's)
  • #5,420
  • Sep 9, 2008 1:04am Sep 9, 2008 1:04am
Quoting finnfx
At first thanks to Jarroo for starting this thread and ofcource Peter who shared dibs with us and everyone who has contributed here and the original thread. I came across with dibs right at the start of this thread but I just didn't have enough time to really concentrate it. But few weeks back I gave dibs another go since I thought it's time to clean up my charts of indicators and keep it simple. So I started with the original thread and after that read this through and at the same time I was making notes, looking charts and taking few trades. Finally I finished this yesterday.

So what I did after all that reading? I took EU short this morning and it's doing gooood... ~300 pips at the moment. And what I'm going to do next? (NEWBIES TAKE A NOTE!) I'm gonna read my notes, posts and charts I've saved and then practise this with my microaccount. I really like dibs and I'm sure I'm able to take profits from markets with it. I just need to practise more and find my edge. No Free Lunch there!

Well, it's 9:40pm here and there just started some old Bruce Willis movie on TV I wanted to see so I see you all tomorrow!

- finnfx

ps. Oh, and if someone is wondering, finn comes from word finnish (Finland)
Finn, you are the Man.

Read both Threads . . . Notes . . . Practise . . . Cleaned up his charts . . .

Your on your way, my friend.
Indicators show the past. Price Action "Indicates" the future.
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