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The DIBS Method... No Free Lunch continues

  • #5,641
  • Oct 20, 2008 7:03am Oct 20, 2008 7:03am
Quoting karmostaji


We have a weekly IB bar on GJ, right?
Yes that is a Weekly IB, but I like them smaller in range like the blue ones.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,642
  • Oct 20, 2008 7:06am Oct 20, 2008 7:06am
Quoting tokwanden
I conquer that. It worth waiting since this morning ( I,m in asian zone. Now is 10pm in Malaysia). I,m done for today. Great thread Jarro
Conquering the Patience factor is half the game.
Indicators show the past. Price Action "Indicates" the future.
  • #5,643
  • Oct 20, 2008 7:07am Oct 20, 2008 7:07am
Quoting jarroo
Yes that is a Weekly IB, but I like them smaller in range like the blue ones.
I see. Thanks jarroo
Trade what you see, not what you think.
  • #5,644
  • Oct 20, 2008 7:08am Oct 20, 2008 7:08am
Quoting karmostaji


We have a weekly IB bar on GJ, right?
E/U weekly IB have been break!
Go figure.. Simplicity work
  • #5,645
  • Oct 20, 2008 7:13am Oct 20, 2008 7:13am
Quoting tokwanden
E/U weekly IB have been break!
That's sitting on a strong S/R level at 1.3350ish level. It could bounce or break.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,646
  • Oct 20, 2008 7:16am Oct 20, 2008 7:16am
USD/CHF

Unrealistic risk involved. I risked 20% per trade, so please do not get carried away about how much I made on a demo account.

EUR/USD higher TF (Namely the 4H,Daily and Weekly TF) are all on down trend and there was a DIBS short trade couple of hours ago which i took. PC did mention that when higher TF trend concur with 1H DIBS signal, it makes the trade more exciting and profitable.

One quesiton thou
How or what do you use to determine the trend? Having traded DIBS for almost 2 weeks, there were IB right in the middle of the opening price line where you could either put a sell or a buy stop or both. I read all of PC's post and observe that sometimes he only placed buy stop during this condition even thou he could place both sell and buy stop. I guess he has his own edge to determine the trend, and before even placing buy/sell stops, he already has some bias where the market will be heading. What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.JPG Size: 146 KB
  • #5,647
  • Oct 20, 2008 7:22am Oct 20, 2008 7:22am
Quoting jarroo
That's sitting on a strong S/R level at 1.3350ish level. It could bounce or break.
Karmo's pill.
Go figure.. Simplicity work
  • #5,648
  • Edited 7:50am Oct 20, 2008 7:40am | Edited 7:50am
Quoting Nigel
USD/CHF

Unrealistic risk involved. I risked 20% per trade, so please do not get carried away about how much I made on a demo account.

EUR/USD higher TF (Namely the 4H,Daily and Weekly TF) are all on down trend and there was a DIBS short trade couple of hours ago which i took. PC did mention that when higher TF trend concur with 1H DIBS signal, it makes the trade more exciting and profitable.

One quesiton thou
How or what do you use to determine the trend? Having traded DIBS for almost 2 weeks, there were IB right in the middle of the opening price line where you could either put a sell or a buy stop or both. I read all of PC's post and observe that sometimes he only placed buy stop during this condition even thou he could place both sell and buy stop. I guess he has his own edge to determine the trend, and before even placing buy/sell stops, he already has some bias where the market will be heading. What do you guys think?
Great question Nigel.

Playing DIBS trades with the trend is a safe way to go. Only taking Bottom IB breaks in a downtrend and only taking Top IB breaks in a uptrend. (This holds true with all Price Action set-ups).

So, one as to determine the long term trend and short term trend and where is Price in relationship to those trends. Support and Resistence levels can help us determine if those trends are Continuing, Stalling (Consolidating) or Reversing. (chart to follow)
Indicators show the past. Price Action "Indicates" the future.
  • #5,649
  • Oct 20, 2008 7:51am Oct 20, 2008 7:51am
GBP/USD. (I missed this.)

Anyone caught this?
Attached Image
  • #5,650
  • Oct 20, 2008 8:10am Oct 20, 2008 8:10am
Hey.

Do you guys typically take all the trades in many correlated pairs?

Adam
"Your big opportunity may be right where you are now." Napoleon Hill
  • #5,651
  • Oct 20, 2008 8:31am Oct 20, 2008 8:31am
Quoting jarroo
Great question Nigel.

Playing DIBS trades with the trend is a safe way to go. Only taking Bottom IB breaks in a downtrend and only taking Top IB breaks in a uptrend. (This holds true with all Price Action set-ups).

So, one as to determine the long term trend and short term trend and where is Price in relationship to those trends. Support and Resistence levels can help us determine if those trends are Continuing, Stalling (Consolidating) or Reversing. (chart to follow)
This Daily Gbp/Jpy chart shows in its current down trend and areas where Price consolidated and then continued it's down trend. Where would the best DIBS trades take place it you were only taking the IB bottom breaks?

One way is to take them anywhere on that chart and just take the small losses and let the winners ride. This would not be a wrong answer. But why not take them off the S/R levels of the consolidation zones. Like the one today (magenta line, DIBS trade)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,652
  • Oct 20, 2008 8:51am Oct 20, 2008 8:51am
Quoting TheHefner
Hey.

Do you guys typically take all the trades in many correlated pairs?

Adam
I usually stick to the majors and some Yen pairs.
Indicators show the past. Price Action "Indicates" the future.
  • #5,653
  • Oct 20, 2008 8:24pm Oct 20, 2008 8:24pm
Hey Chaps just a question...

Are you only looking to enter on the 1st bar after the IB is made.

Like for example if the IB is made but the bar after doesn't break do you ignore the set up and look for a new one or do you enter even if the 2nd or 3rd hourly bar breaks it?

Cheers
Time hides Nothing
  • #5,654
  • Oct 21, 2008 1:57am Oct 21, 2008 1:57am
Nice and clean breakout IB at 4am est. S/L at BE. Free trade now
Go figure.. Simplicity work
  • #5,655
  • Oct 21, 2008 2:07am Oct 21, 2008 2:07am
Quoting tokwanden
Nice and clean breakout IB at 4am est. S/L at BE. Free trade now
What pair is that? Gotta chart?
Indicators show the past. Price Action "Indicates" the future.
  • #5,656
  • Oct 21, 2008 2:32am Oct 21, 2008 2:32am
Quoting tokwanden
Nice and clean breakout IB at 4am est. S/L at BE. Free trade now
Must have been the Euro. Nice.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,657
  • Oct 21, 2008 2:51am Oct 21, 2008 2:51am
Quoting CindyXXXX
Hey Chaps just a question...

Are you only looking to enter on the 1st bar after the IB is made.

Like for example if the IB is made but the bar after doesn't break do you ignore the set up and look for a new one or do you enter even if the 2nd or 3rd hourly bar breaks it?

Cheers
Nope. For me, the IB is still valid unless there is another IB formed.
  • #5,658
  • Oct 21, 2008 3:26am Oct 21, 2008 3:26am
Hello Jarro and Team,

How are you guys doing. I took a break for few months. Now I have moved to India. Just to verify the time line, could one of you please post a EUR/USD FXDD chart with the 12 CST start line indicator. I just want to verify my calculation of time from here.

BTW, are there new developments in the system approach in the past few months other than original PC's description?

Thanks again.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #5,659
  • Oct 21, 2008 5:15am Oct 21, 2008 5:15am
Hi everyone,

Thanx for this amazing system and a special thanx to Peter for sharing it. Well I've read both the threads but I'm still not clear on two things and would be very grateful if any of u kind folk could point me in the right direction.


ques 1)
How do we know whether to trade the breakout of the IB on the up side or the downside. I think Peter mentioned if the IB breakout is above today's open we go long and if the IB breakout is below today's open we go short. Here only today's open is considered. Some where else in the thread I read we check whether today's open is higher than yesterday's close and if so go long on IB breakouts or if today's open is below yesterday's close we go short on IB breakouts. Could anyone tell me which is the correct rule out of the above two as per DIBBS?

que2)
Once we're in a free trade, (we've removed half our position at 1:1) do we let it run till stopped out by our original stop (the oppo end of the IB) or do we trail by some set parameter?

Many thanx for your time all
  • #5,660
  • Oct 21, 2008 5:28am Oct 21, 2008 5:28am
Quoting fugly
Hi everyone,

Thanx for this amazing system and a special thanx to Peter for sharing it. Well I've read both the threads but I'm still not clear on two things and would be very grateful if any of u kind folk could point me in the right direction.


ques 1)
How do we know whether to trade the breakout of the IB on the up side or the downside. I think Peter mentioned if the IB breakout is above today's open we go long and if the IB breakout is below today's open we go short. Here only today's open is considered. Some where else in the thread I read we check whether today's open is higher than yesterday's close and if so go long on IB breakouts or if today's open is below yesterday's close we go short on IB breakouts. Could anyone tell me which is the correct rule out of the above two as per DIBBS?

que2)
Once we're in a free trade, (we've removed half our position at 1:1) do we let it run till stopped out by our original stop (the oppo end of the IB) or do we trail by some set parameter?

Many thanx for your time all
Blue highlight is the correct DIBS trading.

Traders have different styles, comfort levels and goals. Many make a DIBS trade to fit their own trading style.
Indicators show the past. Price Action "Indicates" the future.
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