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The DIBS Method... No Free Lunch continues

  • #5,821
  • Edited 9:15am Nov 6, 2008 8:52am | Edited 9:15am
Quoting jarroo
Very nicely done LVG.

Your discipline is noteworthy. It is tough to see gains go up and down, and still stick to your plan. It is this resolve that makes good traders - great. Turning a short term trade into a long term trade takes a different approach and an understanding that these swings in Price are normal.

I assume the Oct. 30th DIBS trade was the 1st IB of the day (Blue Box).

Might I suggest you look at higher time frames for Support and Resistance levels for stop loss placement and for possible Price targets.

4 hour, Daily and Weekly. You may find different S/R levels then the ones I have indicated.

I know you are out of the trade now, but these are things that you...
Thank you for the reply, it is appreciated. Here is the post with my entry http://www.forexfactory.com/showpost...postcount=5750

I did take that trade you highlighted in the Blue box, but I closed it because I made a mistake with how I used the Oanda interface. From my post I was back in on #3, so not far from my original trade. I took a few more DIBS trades on the ride up and closed them, but let the trade #3 ride until I left to travel for work.


Yeah, I think several people have mentioned S/R levels and I probably should take some time this weekend and read more about it. I think I understand the principle, but I need to learn to apply it. I found the 'no brainer thread', is that a good thread to start out with? There are lots of resources on the subject, but if anyone can recommend "the best" I'd appreciate it. Sounds like I have homework assignment.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,822
  • Nov 6, 2008 10:04am Nov 6, 2008 10:04am
Quoting jarroo
I would have like to have caught it earlier, but could be the start to a new uptrend.
Hi Jarroo!
I need you help. I attached screen with some of EUR day. You can see that if we would take all DIBS trades 30 Oct we could get 3 or 4 loss trades Can you show how you traded (if you had to trade) in this day
PS - 31 Oct is Bad DIBS day too
Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 20 KB
  • #5,823
  • Nov 6, 2008 10:12am Nov 6, 2008 10:12am
Just entered short on eur at 1.2775, hourly inside bar plus trend.

Banked 20 pips on earlier Eur/Jpy trade, choose to tighten stop ahead of the rate decision instead of letting it turn into a losing trade.
  • #5,824
  • Nov 6, 2008 10:16am Nov 6, 2008 10:16am
Quoting LasVahGoose
I found the 'no brainer thread', is that a good thread to start out with? There are lots of resources on the subject, but if anyone can recommend \"the best\" I'd appreciate it. Sounds like I have homework assignment.
Hi LasVah,
I trade Supply and Demand (S&R) and have just added DIBS to my toolbox. The two round my trading out perfectly. The "No Brainer" thread is one the best on FF and BRV (Steve) is more than happy to help you out.

Enjoy!!

Mike G
  • #5,825
  • Nov 6, 2008 10:30am Nov 6, 2008 10:30am
Quoting Matrixxdg
Hi LasVah,
I trade Supply and Demand (S&R) and have just added DIBS to my toolbox. The two round my trading out perfectly. The \"No Brainer\" thread is one the best on FF and BRV (Steve) is more than happy to help you out.

Enjoy!!

Mike G
Have u a link for that thread ?
  • #5,826
  • Nov 6, 2008 10:38am Nov 6, 2008 10:38am
Quoting Billy73
Have u a link for that thread ?
There u go
http://www.forexfactory.com/showthread.php?t=86429
  • #5,827
  • Nov 6, 2008 10:46am Nov 6, 2008 10:46am
Quoting Billy73
Have u a link for that thread ?
FXTrader beat me to it. He also has a really nice blog. It's on BRV signature. I have incorporated in my everyday ritual before I trade.

Mike G
  • #5,828
  • Nov 6, 2008 10:49am Nov 6, 2008 10:49am
Great thanks for the link guys, looks like i've another bit of reading to do
  • #5,829
  • Nov 6, 2008 11:28am Nov 6, 2008 11:28am
Hi, Jarroo!
Sorry to disturbe You at 'home', but I simple can t find a post of Yours about trade managemant. It was in the J16, I read back more than 100 pages, but could not find it yet. 'Small losses, big wins. Repeat that.' was one of the sentence inside the post. It was about PA trade managemant, when to add, when to exit....
I did not understand it, and wanted to re-read it.Please direct me, if You know which post is it, and where is it. (or You deleted it?)
Or if You explain Your thought process about this add to and SLs businness again...Would be very thankfull.
THX, Laszlo
  • #5,830
  • Nov 7, 2008 2:15am Nov 7, 2008 2:15am
Nice DIBS trades on the Euro and Eur/Jpy. (Sorry i can't post a chart blah blah bah)
Indicators show the past. Price Action "Indicates" the future.
  • #5,831
  • Edited 4:17am Nov 7, 2008 3:15am | Edited 4:17am
Quoting NowAndLater
Hey gang, hope everyone has been doing well lately. I'm sorry to say that I no longer have the time to trade during the days (and thus when the big money is in play), but I have been trying to read this thread and the developments of it. One day this will all change and I will be trading again

I will briefly answer this question. GMT doesnt care about summer and winter time, thus 6GMT is always 6GMT. It's on the charts that the change is. Check out my post (which is found on the first post of this thread) and I hope it helps: http://www.forexfactory.com/showpost...&postcount=679
Great to hear from you my friend. Hope you drop by again soon.
Indicators show the past. Price Action "Indicates" the future.
  • #5,832
  • Nov 7, 2008 3:20am Nov 7, 2008 3:20am
Quoting LasVahGoose
Thank you for the reply, it is appreciated. Here is the post with my entry http://www.forexfactory.com/showpost...postcount=5750

I did take that trade you highlighted in the Blue box, but I closed it because I made a mistake with how I used the Oanda interface. From my post I was back in on #3, so not far from my original trade. I took a few more DIBS trades on the ride up and closed them, but let the trade #3 ride until I left to travel for work.


Yeah, I think several people have mentioned S/R levels and I probably should take some time this weekend and read more about it. I think I understand the principle, but I need to learn to apply it. I found the 'no brainer...
S/R levels are an interesting study indeed LVG. Understanding how Price behaves around these levels can make all the difference in the world in your trading.

I'll have to check that "no brainer" guy as well.
Indicators show the past. Price Action "Indicates" the future.
  • #5,833
  • Nov 7, 2008 3:35am Nov 7, 2008 3:35am
Quoting maximus
Hi Jarroo!
I need you help. I attached screen with some of EUR day. You can see that if we would take all DIBS trades 30 Oct we could get 3 or 4 loss trades Can you show how you traded (if you had to trade) in this day
PS - 31 Oct is Bad DIBS day too
Thanks!
I would stick to the 0600 GMT time on the USD pairs it would have avoid those losses. I know I have mentioned using earllier IBs on the Yens.
Oct. 31st was a small loss, these irritants will happen.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,834
  • Nov 7, 2008 3:42am Nov 7, 2008 3:42am
Quoting jarroo
Nice DIBS trades on the Euro and Eur/Jpy. (Sorry i can't post a chart blah blah bah)
I call this PRE-DIBS trade, IB is at 5:00 GMT just before the 6:00 GMT open. I think DIBS is good for 3-4 bars after the IB, so 3 bars from the DIBS was going long (after initial short which I did not take). I was looking for longs. Almost to 1:1 (1:1 just hit as typing this, so free trade now).

Not sure if I'm bending the rules, but I think it is still a valid setup. GBP seems strong against the USD and JPY.
Attached Image
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,835
  • Nov 7, 2008 3:54am Nov 7, 2008 3:54am
Hey GUys !!

I noticed you guys are trading on the 4 hour too now.

How's that working out so far?
  • #5,836
  • Nov 7, 2008 3:59am Nov 7, 2008 3:59am
Hi All,

USDCHF nice DIBS set up short entry signal reversal

Rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: USCHF 07.11.2008 - 3 Dibs1.JPG Size: 192 KB
  • #5,837
  • Nov 7, 2008 3:59am Nov 7, 2008 3:59am
Quoting LasVahGoose
I call this PRE-DIBS trade, IB is at 5:00 GMT just before the 6:00 GMT open. I think DIBS is good for 3-4 bars after the IB, so 3 bars from the DIBS was going long (after initial short which I did not take). I was looking for longs. Almost to 1:1 (1:1 just hit as typing this, so free trade now).

Not sure if I'm bending the rules, but I think it is still a valid setup. GBP seems strong against the USD and JPY.
Nice one LVG.

One could argue that green area I have indicated is a S/R levels and trading into this level is like hitting a brick wall. Yet there is a strong down trend that we are in. So, the up move may be short lived. Or a trend reversal and could go to the moon.

No one knows were Price will go. But now you are in a free trade so just relax and hope it goes to the moon.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,838
  • Nov 7, 2008 4:09am Nov 7, 2008 4:09am
IB @ 5:00 GMT, IB @ 6:00 GMT, IB @ 9:00 GMT, and current candle for start of 10:00 GMT is an IB for now. Interesting to see how this one moves.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-11-7-uj.gif Size: 20 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,839
  • Nov 7, 2008 4:13am Nov 7, 2008 4:13am
Quoting my30marahaba
Hi All,

USDCHF nice DIBS set up short entry signal reversal

Rgds,
my30marahaba
I like this one off of recent Highs.

Nice one my30mar.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #5,840
  • Nov 7, 2008 4:25am Nov 7, 2008 4:25am
Quoting jarroo
Nice one LVG.

One could argue that green area I have indicated is a S/R levels and trading into this level is like hitting a brick wall. Yet there is a strong down trend that we are in. So, the up move may be short lived. Or a trend reversal and could go to the moon.

No one knows were Price will go. But now you are in a free trade so just relax and hope it goes to the moon.
My home work for the weekend is going to be study S/R. I'll back through the tread and then check out what I can online. It sounds like S/R is something I need in my tool kit.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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