Thanks Jaroo,
BTW do you trail stop or just keep the original stop in place once in a free trade?
BTW do you trail stop or just keep the original stop in place once in a free trade?
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DislikedThanks Jaroo,
BTW do you trail stop or just keep the original stop in place once in a free trade?Ignored
DislikedHi Jaroo would you have taken that trade off the 06.00 open at 1.3308! to sell. Strictly to the dibs the 04.00 was above this open, but as we we definately looking for short trades due to major trend, would you be happy to have shorted but only after 06.00
regardsIgnored
DislikedYes, you could played this off the 0600 GMT using the 0400 IB top as the stop loss. Trading with the trend, with a small stop loss, is never a bad DIBS trade in my book.Ignored
DislikedThanks Jaroo, thats helpful. As a newbie to dibs possibly applying the rules to rigididly at present. don't think that a bad thing to start, can apply a little discretion when I get more accomplished
GaiaIgnored
DislikedJaroo can you tell us how many pips you made last week (past five trading days) trading DIBBS? and how muich you lost as well?Ignored
DislikedHello 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.Ignored
DislikedYes that is a Weekly IB, but I like them smaller in range like the blue ones.Ignored
DislikedWoweee. EU IB clean breakout At 10am est. It move more than 200pips (but I closed premature and now I feel sorry for my self. Anyway profit is profit) Sorry cant post the chart. (I'm not computer literate)Ignored
DislikedJaroo can you tell us how many pips you made last week (past five trading days) trading DIBBS? and how muich you lost as well?Ignored
DislikedI haven't been able to play many DIBS trades last week due to not being available during the Open. I've ben playing the Price Action Set-ups on the Daily.Ignored
DislikedI guess the DIBS philosopy is well summarized in this post by TheRealThing (mentor of Peter Crowns which teached him the DIBS method long years ago)
http://www.forexfactory.com/showpost...&postcount=504
The secret is in long tails. No pun intended.
The important note to mention here is-- zinc6, in his kind, thoughtful, but extremely revealing exposure of his data, thankfully stopped at 10:1.
Here's the important note:
How about 15:1, 20:1, 50:1, 100:1, 200:1, 300:1..., available for the \"long tail\" trader?
That is left up to the quiet researcher, who after seeing the actual figures attainable, stops revealing his research. Long tails, profit distribution-wise, favor extra large returns at the higher end of the X:1 spectrum.
Earlier this year, I took an average of 320:1 profits on large DIBS-initiated Eur/Usd positions accumulated 23 months before. I learned the realities of long term \"carry\" and anti-carry trading at the same time. In addition, I had some \"not insignificant\" DIBS-initiated positions still rattling around and rolled over from 2002 that were closed with an equivalent of 450:1 profits.
To put in terms your mind can grasp easily: after carry costs and interest received were adjusted; 5 regular contracts with an 11 pip risk ($550) exited with $257,459 in profits.
Were partial profits on the original DIBS trades taken at much lower figures?
Absolutely!
Why?
Equity swing moderation.
Unless you love jagged rip-saw equity curves and know how to best utilise their power, normal humans do what they can to smooth an equity curve.
Might there be some opportunity cost exiting some partial positions? Sometimes. But nothing like the opportunity cost of not trading a powerful method because you definitely can't handle the equity swings.
Unless you are Hellboy, you can't handle the constant drain of having decent profits at least 50-60% of the time, just to get stopped out 20 - 50 times in a row and less than 0.5% of your trades are the big ones that when your wife finds out forces you into new house hunting. (How do you think I know this?)
So I'm approaching again the DIBS method but with a different perspective, so that to catch the right DIBS on H1 and let it go for days/weeks/months , trailing it with an SMA20 daily (or SMA 480 Hourly), I know it's hard, very hard to trade in this way with a lot of small loss and few big winners but I guess it's the right way to go for me.
Just to talk using this approach I reached a 23:1 reward:risk ratio on a running trade on USDJPY (30 pips sl , more than 700 pips in positive still running) and I'm not yet trailing with SMA daily because it's still 270 pips far from my stoploss !!Ignored
Dislikedi think the issue with dib's is deciding which ones to trade, we know that TRT and PC both load the strong positions, but how are they deciding which IB's they are, how are they filtering them, that is the challange, looking at it, if we trade every Dib's we'ed go broke, so we use what we can and continue to learn. so far so good, i have taken a few dib's trades and currently still hold an EU short (up 630pips) and recently closed one out as my exit rules were meet for around 400pips, but as yet i don't know the answer to which Dib's are strongest - still learning.
best of PIP's
MPPIgnored