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The DIBS Method... No Free Lunch continues

  • #5,841
  • Nov 7, 2008 4:27am Nov 7, 2008 4:27am
Quoting my30marahaba
Hi All,

USDCHF nice DIBS set up short entry signal reversal

Rgds,
my30marahaba
USD/CHF was my bread and butter last week. Some great DIBS plays off that pair.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,842
  • Nov 7, 2008 4:30am Nov 7, 2008 4:30am
Quoting LasVahGoose
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.
As a hammer to a carpenter and plunger to a plumber. I believe its the main tool in the kit.
Indicators show the past. Price Action "Indicates" the future.
  • #5,843
  • Nov 7, 2008 5:14am Nov 7, 2008 5:14am
At least I found what I want. THX.
NL
  • #5,844
  • Nov 7, 2008 6:36am Nov 7, 2008 6:36am
Got slaughtered today, -550 or so pips but on micro lots so no biggie

I had some -700 pip days before on demo but a couple good trades almost always outweigh 4 or 5 bad trades

My losses were from gbp/jpy both long and short trades, and usd/jpy long.

usd/jpy short is still an active trade, in the red a few pips, usd/chf is still an active free trade, up 21 pips.

also have a pending usd/chf short that I will probably cancel before bed since it most likely wont get hit

so to sum it up, 6 orders tonight, 5 orders hit, 3 losses, 1 active negative, and 1 free trade still positive.

not too bad still, last night was 221 pips and the other 2 nights this week I skipped some trades that would have resulted in many more pips this week.

so I learned some good lessons this week and next week will be a very good week
  • #5,845
  • Nov 7, 2008 9:09am Nov 7, 2008 9:09am
Been trading this method for 3 weeks now along with Support and Resistance levels and also the rule of not letting winners turn into losers and i've banked 420 pips so far, wouldn't banked more but for other commitments getting in the way !
Thanks to Jaroo and all the others who contributed to this great thread.
  • #5,846
  • Nov 7, 2008 10:44am Nov 7, 2008 10:44am
Jarroo, thanks so much for the effort you expend on posting charts and your analysis. I wanted to clarify some things if you dont mind...

The chart I'm attaching is one of your original charts that you just posted where you show the IB's that you are trading or watching. There seems to be a lot of IB's that you didn't mark that seemed to be valid DIBS trades. I've marked them in a red box with a red dot below to make it easier to spot. Is there any reason why you chose to ignore those trades?

Thanks!
Attached Image
  • #5,847
  • Nov 7, 2008 2:16pm Nov 7, 2008 2:16pm
Quoting nyapwiltex
Jarroo, thanks so much for the effort you expend on posting charts and your analysis. I wanted to clarify some things if you dont mind...

The chart I'm attaching is one of your original charts that you just posted where you show the IB's that you are trading or watching. There seems to be a lot of IB's that you didn't mark that seemed to be valid DIBS trades. I've marked them in a red box with a red dot below to make it easier to spot. Is there any reason why you chose to ignore those trades?

Thanks!
Many of the ones you have marked with red dots are not valid DIBS trade.
They either come about to early before the Open of the day or too late in the day.
Indicators show the past. Price Action "Indicates" the future.
  • #5,848
  • Nov 7, 2008 2:26pm Nov 7, 2008 2:26pm
Quoting Delfino
Got slaughtered today, -550 or so pips but on micro lots so no biggie

I had some -700 pip days before on demo but a couple good trades almost always outweigh 4 or 5 bad trades

My losses were from gbp/jpy both long and short trades, and usd/jpy long.

usd/jpy short is still an active trade, in the red a few pips, usd/chf is still an active free trade, up 21 pips.

also have a pending usd/chf short that I will probably cancel before bed since it most likely wont get hit

so to sum it up, 6 orders tonight, 5 orders hit, 3 losses, 1 active negative, and 1 free trade still positive.

not too bad still, last night was 221 pips and the other 2 nights this week I skipped some trades that...
The one qualifer I have added to filtering valid DIBS traders on the Gbp/Jpy is that the range or size of the Inside Bar is smaller the 100pips. Perferably smaller the 75 pips. Usd/Jpy smaller 40-50 pips. The point is that the smaller the valid DIBS IB is the better.
Indicators show the past. Price Action "Indicates" the future.
  • #5,849
  • Edited Nov 8, 2008 12:01am Nov 7, 2008 2:31pm | Edited Nov 8, 2008 12:01am
Quoting Billy73
Been trading this method for 3 weeks now along with Support and Resistance levels and also the rule of not letting winners turn into losers and i've banked 420 pips so far, wouldn't banked more but for other commitments getting in the way !
Thanks to Jaroo and all the others who contributed to this great thread.
I wouldn't say that practise makes "perfect" when it comes to trading.
But that practise makes money.
Indicators show the past. Price Action "Indicates" the future.
  • #5,850
  • Nov 7, 2008 3:23pm Nov 7, 2008 3:23pm
I'm glad to see this thread is still as vibrant and useful as when it started 6 months ago. This has certainly been a fascinating 6 months to be trading these markets! Excellent work, Jarroo. I know all too well what kind of dedication it takes to keep up with both trading and with posting about trading.
  • #5,851
  • Nov 7, 2008 3:29pm Nov 7, 2008 3:29pm
Quoting Archiphage
I'm glad to see this thread is still as vibrant and useful as when it started 6 months ago. This has certainly been a fascinating 6 months to be trading these markets! Excellent work, Jarroo. I know all too well what kind of dedication it takes to keep up with both trading and with posting about trading.
Thanks Arch. Good to hear from you again. I'm having a whole lotta fun.
Indicators show the past. Price Action "Indicates" the future.
  • #5,852
  • Nov 7, 2008 4:41pm Nov 7, 2008 4:41pm
Hello. I am planning to use this strategy on Oanda's platform. Can somebody point me to a "DIBS indicators" for Oanda? I know there's a option to use MT4 and manually draw lines, but indicators would be better.

Where and how to obtain Oandas custom indicators ?

I'm looking indicator like PC had his oanda platform screenshots.
Thanks!
  • #5,853
  • Nov 7, 2008 4:46pm Nov 7, 2008 4:46pm
it is variant of the dibs method.

what you think of it honest opinion wanted.

http://www.forexfactory.com/showthread.php?t=119602
  • #5,854
  • Nov 8, 2008 9:31am Nov 8, 2008 9:31am
Quoting Zen_Leow
Judy requested that the position size for primary and secondary order have a better sizing mechanism than simply splitting them equally.

so here's my version 7.

added inputs are

Primary_LotSize_Percent with default value 100
Secondary_LotSize_Percent with default value 0

these 2 values defines how much weightage of position size in percent you want the primary or secondary orders to have.

Note:

1. These 2 values MUST add up to 100.
2. if you set OpenSecondaryOrder to true, Secondary_LotSize_Percent MUST have a value greater than 0.
3. if you set OpenSecondaryOrder to false, Primary_LotSize_Percent MUST be 100.

if any of the above added rules aren't met, the EA won't run. I've...

Hi Zen,
could you post a version of DIBS_EA_v6.2 that includes a switch to make it take trades in both directions of the IB?
regards
Peter
  • #5,855
  • Nov 9, 2008 3:39am Nov 9, 2008 3:39am
Quoting TigerTrader
I must admit to being a bit disappointed that no-one joined the discussion on the 0600 GMT open now that winter time is in force. Peter made it quite clear that you should trade when the big money trades. That to me seems to indicate moving the \"open\" to 0700 GMT in winter. Any takers this time round?


Quoting NowAndLater
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
Thanks NowAndLater for the lesson on GMT. The point I raised has nothing to do with the mechanics of GMT which we all know is cast in stone. Our mentor Peter Crowns strongly advised us to "trade the strong hand". The "strong hands" are now sleeping an extra hour every day and putting their money on the table an hour later. I thnk blindly following 0600GMT is risky. If you want to "trade the strong hand" it seems logical to me to move the DIBS strategy to follow the money. Anyway, there was a pretty feeble response to this discussion so I guess not many people are interested in this so I will drop it, but I personally will move my target times to match the big players and see how I go. Good luck to the rest of you as always.
Never argue with a fool....
  • #5,856
  • Nov 9, 2008 3:51am Nov 9, 2008 3:51am
Quoting tigertrader
[/i]



Thanks NowAndLater for the lesson on GMT. The point I raised has nothing to do with the mechanics of GMT which we all know is cast in stone. Our mentor Peter Crowns strongly advised us to "trade the strong hand". The "strong hands" are now sleeping an extra hour every day and putting their money on the table an hour later. I thnk blindly following 0600GMT is risky. If you want to "trade the strong hand" it seems logical to me to move the DIBS strategy to follow the money. Anyway, there was a pretty feeble response to this discussion so I guess not many people are interested in this so I will drop it, but I personally will move my target times to match the big players and see...

:: Development and evaluation is important for any system ::

Never sell @ lower upward channel unless breacked and vise versa .
  • #5,857
  • Nov 9, 2008 10:16am Nov 9, 2008 10:16am
Quoting tigertrader
[/i]



Thanks NowAndLater for the lesson on GMT. The point I raised has nothing to do with the mechanics of GMT which we all know is cast in stone. Our mentor Peter Crowns strongly advised us to "trade the strong hand". The "strong hands" are now sleeping an extra hour every day and putting their money on the table an hour later. I thnk blindly following 0600GMT is risky. If you want to "trade the strong hand" it seems logical to me to move the DIBS strategy to follow the money. Anyway, there was a pretty feeble response to this discussion so I guess not many people are interested in this so I will drop it, but I personally will move my target times to match the big players and see...
Ok, but imho, there is nothing wrong on being one hour too early. Better early than late!
  • #5,858
  • Nov 10, 2008 12:30am Nov 10, 2008 12:30am
Good to close the gap? Oh that would be nice .
Attached Image (click to enlarge)
Click to Enlarge Name: ej dib.gif Size: 17 KB
  • #5,859
  • Nov 10, 2008 12:32am Nov 10, 2008 12:32am
Quoting Betard
Good to close the gap? Oh that would be nice .
Looks good B.
Indicators show the past. Price Action "Indicates" the future.
  • #5,860
  • Nov 10, 2008 2:02am Nov 10, 2008 2:02am
We have a weekly IB on GJ, gonna keep an eye on that
Trade what you see, not what you think.
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