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  • #5,781
  • Nov 4, 2008 1:17pm Nov 4, 2008 1:17pm
Quoting Delfino
Short setup developing on usdchf, pending order set
Hi Delfino,
Nice move hope you got some. I picked up +121 for a total of 320 for the day. Think I'll go to the golf course.

MG
  • #5,782
  • Nov 4, 2008 11:34pm Nov 4, 2008 11:34pm
Quoting eltrot1979
Hey Jarroo, how come you're not using the 6am GMT opening to start your DIBS day?! Have you found 5am to be more reliable?
I still use the 0600 GMT. I will play the 0500 GMT IBs off the 0600GMT.
Indicators show the past. Price Action "Indicates" the future.
  • #5,783
  • Nov 4, 2008 11:53pm Nov 4, 2008 11:53pm
Quoting jarroo
I still use the 0600 GMT. I will play the 0500 GMT IBs off the 0600GMT.
Jaroo-

Can you explain this in a little more detail? Does that mean that if there is an IB at 0500 GMT, you play a break either way of the IB? Or does the way the 0600 bar forms matter? Do you wait until the 0600 bar closes?

I am a newbie at this, so forgive me if it is a stupid question. I have read a lot of your posts, and a lot of PC's, and I have seen this idea of playing an IB before the open, but I never really have been able to grasp it.

Thanks for the help!

Brian
  • #5,784
  • Nov 5, 2008 12:05am Nov 5, 2008 12:05am
Quoting bdrex95
Jaroo-

Can you explain this in a little more detail? Does that mean that if there is an IB at 0500 GMT, you play a break either way of the IB? Or does the way the 0600 bar forms matter? Do you wait until the 0600 bar closes?

I am a newbie at this, so forgive me if it is a stupid question. I have read a lot of your posts, and a lot of PC's, and I have seen this idea of playing an IB before the open, but I never really have been able to grasp it.

Thanks for the help!

Brian

Yesterday the Usd/Gbp formed an Inside Bar at 0500GMT. Then the 0600 GMT Opened at 1.5667, this is our line in the sand. I will then play the break of the 0500 GMT Inside Bar.

Hope this helps.
Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,785
  • Nov 5, 2008 12:11am Nov 5, 2008 12:11am
Here's one now rdrex on the Gbp/Jpy
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,786
  • Nov 5, 2008 12:17am Nov 5, 2008 12:17am
Same with the Aud/Usd. But the Inside Bars are a bit big for my liking.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,787
  • Nov 5, 2008 12:28am Nov 5, 2008 12:28am
Quoting jarroo
But the Inside Bars are a bit big for my liking.
So what short of pip ranges you generally look for on your setups?
  • #5,788
  • Nov 5, 2008 12:33am Nov 5, 2008 12:33am
Quoting jarroo
Same with the Aud/Usd. But the Inside Bars are a bit big for my liking.
Thanks for the examples. It makes it much easier to understand when I can see it. Just to make sure I understand what I am looking at... in this case, as long as we are above the open, you would take a long position on a break above the 0500 IB, right? (assuming the the IB was more to your liking).
  • #5,789
  • Nov 5, 2008 12:34am Nov 5, 2008 12:34am
Quoting Yaad
So what short of pip ranges you generally look for on your setups?
Smaller ones. lol Just kidding.

For Gbp/Jpy if I can get one below 75-85 pips great.

Pairs the Euro, Cable etc., below 30 - 40 pips or smaller.
Indicators show the past. Price Action "Indicates" the future.
  • #5,790
  • Nov 5, 2008 12:39am Nov 5, 2008 12:39am
Quoting bdrex95
Thanks for the examples. It makes it much easier to understand when I can see it. Just to make sure I understand what I am looking at... in this case, as long as we are above the open, you would take a long position on a break above the 0500 IB, right? (assuming the the IB was more to your liking).
That is correct.

I did take the break of the Gbp/Jpy. I adjusted my position size.
Indicators show the past. Price Action "Indicates" the future.
  • #5,791
  • Nov 5, 2008 12:44am Nov 5, 2008 12:44am
Quoting jarroo
That is correct.

I did take the break of the Gbp/Jpy. I adjust my position size.

That makes sense. Thank you very much for clearing that up for me.
I always look forward to your posts, and I have learned alot from you from this thread as well as the J16 thread.

Your generosity does not go unnoticed. Thank you very much for taking the time to help us newbies!

-Brian
  • #5,792
  • Nov 5, 2008 12:44am Nov 5, 2008 12:44am
Quoting jarroo
Smaller ones. lol Just kidding.

For Gbp/Jpy if I can get one below 75-85 pips great.

Pairs the Euro, Cable etc., below 30 - 40 pips or smaller.
Thanks for the response.

Another question......

When you have a false breakout to lets the top of an IB and it retraces and breaks out the other side, do you jump in there as well?
  • #5,793
  • Nov 5, 2008 12:45am Nov 5, 2008 12:45am
Quoting bdrex95
That makes sense. Thank you very much for clearing that up for me.
I always look forward to your posts, and I have learned alot from you from this thread as well as the J16 thread.

Your generosity does not go unnoticed. Thank you very much for taking the time to help us newbies!

-Brian
Indicators show the past. Price Action "Indicates" the future.
  • #5,794
  • Nov 5, 2008 12:49am Nov 5, 2008 12:49am
Quoting Yaad
Thanks for the response.

Another question......

When you have a false breakout to lets the top of an IB and it retraces and breaks out the other side, do you jump in there as well?
This goes back to your 1st question. Not only do I feel that the small range Inside Bars offer more of a stronger move. They also provide a smaller risk (loss) for a stop and reverse (breaking the other side) type trades.
Indicators show the past. Price Action "Indicates" the future.
  • #5,795
  • Nov 5, 2008 12:51am Nov 5, 2008 12:51am
Quoting jarroo
This goes back to your 1st question. Not only do I feel that the small range Inside Bars offer more of a stronger move. They also provide a smaller risk (loss) for a stop and reverse (breaking the other side) type trades.

Ahh, gotcha.
  • #5,796
  • Nov 5, 2008 4:04am Nov 5, 2008 4:04am
Quoting jarroo
Here's one now rdrex on the Gbp/Jpy
Free trading on the Stop and Reverse.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,797
  • Nov 5, 2008 6:04am Nov 5, 2008 6:04am
anyone else catch the eurusd that happened an hour ago?

I was playing a game while I had the pending orders set, exited and saw the trade was already a free trade.

Moved SL to lock in 65 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdnov5.gif Size: 16 KB
  • #5,798
  • Nov 5, 2008 6:21am Nov 5, 2008 6:21am
Quoting Delfino
anyone else catch the eurusd that happened an hour ago?

I was playing a game while I had the pending orders set, exited and saw the trade was already a free trade.

Moved SL to lock in 65 pips
I got in at 1.2896. I havent locked any pips yet, i put stop at BE+1 pips
I want to see if this rides longer and give it more room. After all its "free trade".
"Cut your losses short, let your winners ride"
  • #5,799
  • Nov 5, 2008 7:05am Nov 5, 2008 7:05am
Quoting johto
I got in at 1.2896. I havent locked any pips yet, i put stop at BE+1 pips
I want to see if this rides longer and give it more room. After all its \"free trade\".
\"Cut your losses short, let your winners ride\"
Ok, it retraced 100% back so i won 1 pips!
  • #5,800
  • Nov 5, 2008 7:34am Nov 5, 2008 7:34am
Hi Folks, I've been mainly lurking lately and trading a little as well - too darn busy with other stuff right now to go at it full time. That will come. Just 2 issues that are bothering me right now so I thought I would seek some advice on this outstanding forum.

1) As Europe, the UK and the USA are now on winter time, 0600GMT is now the Frankfurt open and London now opens at around 0700GMT.
Have any of you considered changing the DIBS start time to match the new market open times?

2) Using Jaroo's wonderful DIBS indicator I often have a problem where the indicator does not update if I open my Metatrader charts after 0600Z. I have to manually refresh the indicator and then it draws the lines correctly. Anyone know how to force the indicator to update automatically when it loads? I have to do this on every currency chart (currently trading 9 pairs) so it is a bit tedious. If the charts are already open prior to 0600 the indicator correctly updates itself after 0600 GMT.

Thanks and I look forward to some discussion and suggestions re the above.

Cheers and happy trading!
Never argue with a fool....
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