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The DIBS Method... No Free Lunch continues

  • #5,481
  • Sep 19, 2008 1:40am Sep 19, 2008 1:40am
Quoting tsquad
Well - I have been a lurker for a while and am starting to pay more attention to this method. I am normally not one to share specifics, but I am pretty stoked right now...

My buy of nzdjpy was filled at 17:17 GMT and is currently 130 pips up on the free trade after banking 50 pips.

My sell of eurusd was filled at 23:12 GMT and is currently 85 pips up on the free trade after banking 39 pips.

I have 50 pip trailing stops on both orders - worse case would be to bank another 145 pips.

Boy - I got to pay more attention to this...


T...
hey T, howz your luck with NZD/JPY,
good trades?
  • #5,482
  • Sep 19, 2008 2:23am Sep 19, 2008 2:23am
Quoting MJurban
long on ec 1,5863
target 1.5948 reached.
Attached Image (click to enlarge)
Click to Enlarge Name: dibs-0014.JPG Size: 58 KB
  • #5,483
  • Sep 19, 2008 4:45pm Sep 19, 2008 4:45pm
Wow, u guys are still here.!
Anybody bought a Porsche yet? (no, but your broker has!)

Last one out, turn off the lights...
  • #5,484
  • Sep 20, 2008 3:03am Sep 20, 2008 3:03am
Quoting highneb
Wow, u guys are still here.!
Anybody bought a Porsche yet? (no, but your broker has!)

Last one out, turn off the lights...

Just looking back over your 16 posts here on FF. All have been made to this thread and all have been only to critisize this method. If you don't understand then just move on, I thought you had but I was wrong...
  • #5,485
  • Sep 21, 2008 2:50am Sep 21, 2008 2:50am
subs
  • #5,486
  • Sep 21, 2008 2:59am Sep 21, 2008 2:59am
So has yours

Quoting highneb
Anybody bought a Porsche yet? (no, but your broker has!)
It's me...
  • #5,487
  • Sep 21, 2008 7:47am Sep 21, 2008 7:47am
Quoting highneb
Wow, u guys are still here.!
Anybody bought a Porsche yet? (no, but your broker has!)

Last one out, turn off the lights...
Another bitter loser to the my ignore list...
  • #5,488
  • Sep 21, 2008 8:01am Sep 21, 2008 8:01am
Just a quick update...

I placed 4 trades on Friday - 2 losers and one winner and one open.

Eurchf filled at 16:23 - stopped out @ 18:13 32 pips lost = -64

NzdJpy filled at 9:45 - stopped out @ 11:07 38 pips lost = -76

Eurjpy filled at 10:53 - take profit @ 12:20 46 pips = 46
--------------------------------@ 13:30 140 pips = 194

Total 100 pips

The open order

Nzdjpy filled at 16:15 open at +11 pips each

I will try and upload charts later.


T...
  • #5,489
  • Sep 21, 2008 8:05am Sep 21, 2008 8:05am
Quoting highneb
Wow, u guys are still here.!
Anybody bought a Porsche yet? (no, but your broker has!)

Last one out, turn off the lights...
On your mark!.... Get set!...... Ignore!
  • #5,490
  • Sep 21, 2008 8:08am Sep 21, 2008 8:08am
Quoting navin44
hey T, howz your luck with NZD/JPY,
good trades?

Sorry - I am just starting on this method so have no track record with individual pairs. My time between work and kids is very inconsistent - I am just looking for setups to trade to gain experience...


T...
  • #5,491
  • Sep 21, 2008 8:12am Sep 21, 2008 8:12am
In light of the happenings of the last week...

What time frame are you focusing on? - My results are using 1 hour but I see others are using 4 hour.

Are there particular pairs that seem to be more consistent?


Thanks

T...
  • #5,492
  • Sep 21, 2008 1:45pm Sep 21, 2008 1:45pm
Quoting AgentFx
So has yours
LOL
  • #5,493
  • Sep 21, 2008 9:59pm Sep 21, 2008 9:59pm
Quote
What time frame are you focusing on? - My results are using 1 hour but I see others are using 4 hour.


I only trade methods I have tested myself, this gives me the confidence I need to trade. for me I stick with 4 hour charts, others might do well with one hour charts, ect. What happened last week do not influence my trading decisions.


Best regards

Dale
  • #5,494
  • Edited 11:58pm Sep 21, 2008 11:36pm | Edited 11:58pm
Quoting Dale
I only trade methods I have tested myself, this gives me the confidence I need to trade. for me I stick with 4 hour charts, others might do well with one hour charts, ect. What happened last week do not influence my trading decisions.


Best regards

Dale
Hi Dale

I backtested and forwardtested the 4H on demo and more recently have been trading it live for almost 2 months across AUD; EUR: CHF and JPY with good results.

So far I found that the GMT+3 feed (FXDD) gives slightly more reliable signals but still too many at times. I use the close of the week to determine trend for the following week and filter out signals where the IB staddles the end-of-week trendline.

When combined with Jacko's method to further filter signals (Jacko looks for 50% retracements, round numbers, buying pullbacks with the trend), DIBS on the 4H suits my style.

I guess I have bastardised DIBS so it is less mechanical and is more discretionary than Peter Crown originally described and have tailored it more to position trading.

DIBS is a good method for those who can cope with rules-based trading but is easily "pimped" to be more discretionary if coupled with other price action methods such as Jacko's or James16.
  • #5,495
  • Sep 22, 2008 1:32am Sep 22, 2008 1:32am
Yes

I also use other filters, the way I look at it is like this;

The dibs concept is one edge, if I add other concepts I understand through research I may find yet another edge that works nicely with it, If I can combine severall edges I may have a stable working approach.


Best regards

Dale

Ps: I will not post for a week or so
  • #5,496
  • Sep 22, 2008 1:52am Sep 22, 2008 1:52am
Hi,

I haven't looked into this method b4 but I like the combination of mechanical and discretionary trading involved. (It seems to me this is neccessary in any trading method).

Anyway when applying the method to the 4hr charts do u guys still use 0600 as the start point for the week or use the market open at 2200 on sunday?

I guess it matters a lot less due to the longer timeframe, was just wondering if there was any concensus here, if it make any difference at all.

Regards,

Ed.
  • #5,497
  • Sep 22, 2008 2:40am Sep 22, 2008 2:40am
Quoting Ted1983
Hi,

I haven't looked into this method b4 but I like the combination of mechanical and discretionary trading involved. (It seems to me this is neccessary in any trading method).

Anyway when applying the method to the 4hr charts do u guys still use 0600 as the start point for the week or use the market open at 2200 on sunday?

I guess it matters a lot less due to the longer timeframe, was just wondering if there was any concensus here, if it make any difference at all.

Regards,

Ed.
G'day Ted

I use the close of the prior week to mark the trendline when trading from H4 charts. If the end-of-week close was above the IB I only go short on a break and if the end-of-week close was below the IB then I only go long.

Others may use the daily close of the prior day (as per the H1 method) but my testing convinced me to go with the Close of the prior week.

To avoid the often thinly traded, skitterish start to the week I usually won't take an IB signal if the IB straddles the Close of the prior week. I use that technique rather than waiting for 0600, because the AUD and JPY often make nice moves prior to 0600.

Trading DIBS on the H4 with other price action filters has a lot of promise and, as you pointed out, gives a mix of mechanical and discretionary that can be blended to suit the individual. As Dale said, it provides him an edge which he couples with other techniques.

Demo the H4 and try for yourself...
  • #5,498
  • Sep 22, 2008 3:59am Sep 22, 2008 3:59am
Cheers for the info. I'm gonnna try try this method as originaly stated by Peter Crown. Im in UK (you probably guessed from the avatar) so I can follow the opening few candles without getting up in the middle of the night.
  • #5,499
  • Sep 22, 2008 4:27am Sep 22, 2008 4:27am
Quoting Ted1983
Cheers for the info. I'm gonnna try try this method as originaly stated by Peter Crown. Im in UK (you probably guessed from the avatar) so I can follow the opening few candles without getting up in the middle of the night.
Good fortune Ted!
  • #5,500
  • Sep 22, 2008 4:50am Sep 22, 2008 4:50am
Theres a shrimp waitin' on me barbee for ya when I make me first million!
(Sorry couldn't resist)
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