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The DIBS Method... No Free Lunch continues

  • #5,881
  • Nov 10, 2008 3:31pm Nov 10, 2008 3:31pm
Quoting Lapin
Hi,

This is my first post here, after having discovered the DIBS method few days ago.

The first thing I would like to do is to thank Peter and all knowledgeable poster like jarroo since their informations have teached me a lot in very short term.
I have opened my eyes to the "good" way of trading (at least for me) and I am confident that profit could come as soon as I have climbed the steep learning curve.

I have entered the following position today (demo account)
Short GU in the afternoon.
Right now, the trade is a free trade and I am running a profit of 196 pips for a ratio of 4.16:1. I am quite happy with it but I am not 100% sure of the rationale.

I took the position since we are...

Hi Lapin,
Yep...I made the same trade this morning with a limit order at 5767 and my TP @5641 for +126. There was nice resistance (supply) level @5823 AND it was in the process of filling the gap from Sunday's open.

Nice Trade.

MG
Attached Image
  • #5,882
  • Nov 11, 2008 12:14am Nov 11, 2008 12:14am
Hi All,

DIBS set up for today

Rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: DIBS 11.11.2008.JPG Size: 206 KB
  • #5,883
  • Nov 11, 2008 1:07am Nov 11, 2008 1:07am
A lot of DIBS trades out there this morning. Inside bar 0100 EST (0600 GMT).

(Sorry can't post charts right now)
Indicators show the past. Price Action "Indicates" the future.
  • #5,884
  • Nov 11, 2008 2:24am Nov 11, 2008 2:24am
Quoting jarroo
A lot of DIBS trades out there this morning. Inside bar 0100 EST (0600 GMT).

(Sorry can't post charts right now)
Urgh, i entered 20 pips late on GBP/JPY, then when it was about +50 i put it on BE+1 pip. I only entered with one mini lot so i had to move stop to BE. Now it hit back on the stop. Oh, well..i could have taken profits when it was +70 pips, but you never know if theres a good run. Hey, i won 1 pips!

Too bad i'm under capitalized and on a MINI account with micro account balance, i would have scaled out to BE without moving stop if i could have used smaller lots

ps. Still on with USD/JPY, moved already to BE+1 pips. Price is currently licking very close back to the stop line too.
  • #5,885
  • Nov 11, 2008 2:24am Nov 11, 2008 2:24am
Took 3 setups today, usdjpy, gbpusd, and gbpjpy. And as a bonus took sonic, billy's, and my wifes advice and closed out at 171 pips for the day.

Doesnt seem like much on micro, but once I start doing this on mini's those small bits will add up fast.
  • #5,886
  • Nov 11, 2008 2:29am Nov 11, 2008 2:29am
Quoting Delfino
Took 3 setups today, usdjpy, gbpusd, and gbpjpy. And as a bonus took sonic and billy's advice and closed out at 171 pips for the day.

Doesnt seem like much on micro, but once I start doing this on mini's those small bits will add up fast.
Good for you. I was greedy and did not take my winnings on a undercapitalized MINI account. I mean, i had floating profits of 50% of my whole balance and still did not take it! This is why i will transfer most of these remaining money to a micro account so i can take BE without moving my stop...i would still be on a free trade with gpy

Greed is good...or not
Currently still hanging on with usdjpy ..if it goes more down again, i'm going to take profits if it goes 50+
  • #5,887
  • Nov 11, 2008 6:48am Nov 11, 2008 6:48am
Quoting Delfino
Took 3 setups today, usdjpy, gbpusd, and gbpjpy. And as a bonus took sonic, billy's, and my wifes advice and closed out at 171 pips for the day.

Doesnt seem like much on micro, but once I start doing this on mini's those small bits will add up fast.
Good to hear Delfino, it's obvious that what your doing is working as in the trades are going the right direction for u so now when u do start trading minis you'll have more confidence because u know what your doing works
  • #5,888
  • Nov 11, 2008 7:38am Nov 11, 2008 7:38am
hi all,

here my re'entry gu after retracement point to 76% fibo
nice set up DIBS methode

rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: gu re'entry point after retracement 76%.JPG Size: 132 KB
  • #5,889
  • Nov 11, 2008 9:06am Nov 11, 2008 9:06am
hi all,
EU move down now looks nice movement

rgds
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: eu.JPG Size: 134 KB
  • #5,890
  • Nov 11, 2008 9:23am Nov 11, 2008 9:23am
all the best DIBS set up for today, my re'entry point after ny open base on 1st IB ej and au good result....

rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: ej &au.JPG Size: 143 KB
  • #5,891
  • Nov 11, 2008 2:33pm Nov 11, 2008 2:33pm
Quoting Delfino
Took 3 setups today, usdjpy, gbpusd, and gbpjpy. And as a bonus took sonic, billy's, and my wifes advice and closed out at 171 pips for the day.

Doesnt seem like much on micro, but once I start doing this on mini's those small bits will add up fast.
I took the gpdusd on a mini lot (10% of my account I know, I know, I broke my trading rule), but it paid off since there was a lot of confluence that seemed to scream going down down down. Hit 1:1 R/R, and free trade the rest and TP @ around the 1.5545 area.

I did micro lots on the gbpjpy & usdchf. I wanted to take all the DIBS trades there were so many of them, but I had maxed out my margin and couldn't put on any more trades. Account ended +30%.

It was great day for DIBS, no doubt about it. This is the start of my 3rd week of trading and I really need to check my discipline. All the stuff you read on FF on what not to do, etc, etc doesn't really sink in until you do it with real money on the line. I guess some of us need to learn the hard way.

The level of stress taking a mini lot after only doing micro lots was pretty amazing to experience. I was clutching my mouse so tight I thought i was going to crush it. LOL, oh. I'm gonna stick to micro's for a long while I think. I can't imagine what it must be like to trade a standard lot.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,892
  • Nov 11, 2008 2:51pm Nov 11, 2008 2:51pm
Quoting my30marahaba
hi all,

here my re'entry gu after retracement point to 76% fibo
nice set up DIBS methode

rgds,
my30marahaba
When you say re'entry, did you get stopped out on the original trade? or do mean you added a position at the fibo level?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,893
  • Nov 11, 2008 5:05pm Nov 11, 2008 5:05pm
Quoting LasVahGoose
I took the gpdusd on a mini lot (10% of my account I know, I know, I broke my trading rule), but it paid off since there was a lot of confluence that seemed to scream going down down down. Hit 1:1 R/R, and free trade the rest and TP @ around the 1.5545 area.

I did micro lots on the gbpjpy & usdchf. I wanted to take all the DIBS trades there were so many of them, but I had maxed out my margin and couldn't put on any more trades. Account ended +30%.

It was great day for DIBS, no doubt about it. This is the start of my 3rd week of trading and I really need to check my discipline. All the stuff you read on FF on what not to do, etc, etc doesn't really sink in until you do it with real money on...
Good to see that you realize that MM is key. It took me a while, not until I lost most of my mid 4 figure mini account. Now I am doing micros to build it back up.
Trade what you see, not what you think.
  • #5,894
  • Nov 11, 2008 5:14pm Nov 11, 2008 5:14pm
Quoting LasVahGoose
When you say re'entry, did you get stopped out on the original trade? or do mean you added a position at the fibo level?
yes sir i stopped out my original entry if the pa show the reversal retracement and i will wait for reentry point base on 1st ib, remember gu always retrace to 76/78 % fibo level before long movement. i always hold one position with the closely SL. here the chart one posistion still open

regards
mymarahaba
Attached Image (click to enlarge)
Click to Enlarge Name: gu dibs free lunch.JPG Size: 137 KB
  • #5,895
  • Nov 11, 2008 6:41pm Nov 11, 2008 6:41pm
Quoting my30marahaba
yes sir i stopped out my original entry if the pa show the reversal retracement and i will wait for reentry point base on 1st ib, remember gu always retrace to 76/78 % fibo level before long movement. i always hold one position with the closely SL. here the chart one posistion still open

regards
mymarahaba
Understood, I was looking at the IB that had the green and red lines off of it and thought that was the IB you took, but I see now it was one of the IB's later in the day.

76/78% on the GU pair? I'd not heard that before, I'm going to look for that level on the GU pair and see what I see. I usually delete that fib level and put most the weight on the 61.8% level. Thanks for the tip.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #5,896
  • Nov 11, 2008 10:32pm Nov 11, 2008 10:32pm
hi all,

here my DIBS set up for today

rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: Dibs set up today.JPG Size: 166 KB
  • #5,897
  • Nov 12, 2008 3:17am Nov 12, 2008 3:17am
Quoting my30marahaba
hi all,

here my DIBS set up for today

rgds,
my30marahaba

Here the updated GU result .....

Rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: GU PA 12.11.2008 - 3.JPG Size: 79 KB
  • #5,898
  • Nov 12, 2008 3:40am Nov 12, 2008 3:40am
Dear Thread,

Can you take a BKO of an IB that occurred a number of bars ago? That is to say, there was an IB, there was a BKO of that IB, but now price has retraced back into the range of the IB. Does this retracement make the subsequent BKO worse or is there no difference from the BKO of the original IB?

Thanks,

Lenoxer
  • #5,899
  • Nov 12, 2008 7:06am Nov 12, 2008 7:06am
hi all my re'entry point eu
& AU going short

rgds,
my30marahaba
Attached Images
  • #5,900
  • Nov 12, 2008 8:34am Nov 12, 2008 8:34am
Quoting my30marahaba
hi all my re'entry point eu
& AU going short

rgds,
my30marahaba
Dear all,

Good result now take some profit and holding one open position for Free Trade......

  1. Only be willing to buy a market if it is up on the day.
  2. Only be willing to sell a market if it is down on the day.

Rgds,
my30marahaba

Attached Image (click to enlarge)
Click to Enlarge Name: EU & AU.JPG Size: 192 KB
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