Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

The DIBS Method - No Free Lunch Returns 12 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

Quoting imad
thank you johto. so we enter after 6 gmt and if price is above the daily open we go only long and if down we go only short . right ?
thank u
NO. Please read this thread again! You put the horizontal line on the 6gmt bar open, this is your "line", You only take positions long if the price is up from the line, short if down from the line. Only open positions with breakout of 1H IB's during the day. Only open trades for first 10 hours. Its all told many many many times in this thread. First page. The whole idea for DIBS is to get low risk trade open and go with the "daily trend" and take profit(break even) at 1:1 by closing half of your position. By this you dont need to move the stop loss so it will give more breathing room. Take profits should not be taken "greedy", and let it run for longer(trailing daily/weekly) = minimum risk, maximum profits!
Quoting imad
hi my30marahaba
please find attached my GU chart i draw a line on the begining of the day and an horizontal line at the day opening price
there is no insie bar yet on my chart . or i am missing something ? please explain
thank you

you are right sir but i use the previous IB to enter my short
here the chart..

brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: GU.JPG Size: 145 KB
Quoting my30marahaba
you are right sir but i use the previous IB to enter my short
here the chart..

brgds,
my30marahaba
Nice trade. I can't really tell by looking at your chart, but on my chart the IB you took short was above the Daily Open, which by the rules means you wouldn't take short you would be looking to go long. At 07:00 GMT there was an IB with a trigger candle going long above the daily open.

I'm just saying according the DIBS rules the way I understand them. But hey, if you are banking in the cash keep on doing what your doing. But your posts may confuse folks.
Don't wish it were easier, wish you were better. ~ Jim Rohn
My MT4 chart showed a valid DIBS trade short on the 06:00 GMT open candle, so I went short. I realized that Oanda didn't match having an IB, but it appears to have worked out. Price seems stalled at the 61.8 fibo that I have drawn (right or wrong). Only my 4th week of trading and there is news release in an hour for the GBP. I wondering how others would handle this?
right now I've moved my stop to the 61.8 fibo in case price moves back up. Not strict to the DIBS rules, but I want to lock in some profit since I've drawn down my account close to 30%.

NOTE: I did initially take the trigger candle long and got stopped out, but then went short if anyone is wondering.

Thank You.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-11-20-gu-1.gif Size: 22 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
Quoting LasVahGoose
Nice trade. I can't really tell by looking at your chart, but on my chart the IB you took short was above the Daily Open, which by the rules means you wouldn't take short you would be looking to go long. At 07:00 GMT there was an IB with a trigger candle going long above the daily open.

I'm just saying according the DIBS rules the way I understand them. But hey, if you are banking in the cash keep on doing what your doing. But your posts may confuse folks.
Dear all,
 I would like to share with you all about this, yesterday the price break out of the IB to the major resistance line and then pullback to the range of this 1st IB so I use this IB to enter short, refer to daily chart the PB formation also I found PB formation on 4hr follow bearish engulfing Candle all of this to the support of my analyst and remember of PC’s rule
In the pit the first thing you learn--- when you are ready to actually make money..., and stop the bleeding, is:

  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....

Best regards,
my30marhaba

If I'm holding a position in one direction one day, and then I get a signal in the opposite direction the next day, do I take the opposite direction signal or only trade in the direction of my current position?

Let's assume I can trade in both directions at the same time using sub-accounts.

Thanks,

Visual One
Just put my sell stop on this H1 IB
Gone to a better place
hi
i shorted the GU at 1.4836. is this entry according to rules ??
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
Quoting imad
hi
i shorted the GU at 1.4836. is this entry according to rules ??
thanks
Valid IB's are calculated containing the wicks too ! Bar's high and low range, not just open and close.
On your chart picture, last valid IB is on your marked vertical line at 6gmt!
It looks OK to me. Have you read the first post and followed the links?
Gone to a better place
Quoting smikester
It looks OK to me. Have you read the first post and followed the links?
Not a valid DIBS
USDJPY is cooking!

I entered on it already some hours ago, now there is another IB formed:
http://img.skitch.com/20081120-drmny...cxpibxx29b.png
14 pips away from a free trade.
edit: ok, now its free trade...
the candle before the the 1st bleu candle is an IB . THE HIGH AND LOW OF THIS CANDLE IS INCLUDED ON THE PREVIOUS ONE .
THANKS
Quoting imad
the candle before the the 1st bleu candle is an IB . THE HIGH AND LOW OF THIS CANDLE IS INCLUDED ON THE PREVIOUS ONE .
THANKS
Its higher than the previous, just a tad! So no IB.
EJ going up
Attached Image (click to enlarge)
Click to Enlarge Name: EJ today.JPG Size: 132 KB
USDCHF dibs trade seems to work too, i entered hour ago, and now it seems to breakout !

edit: Its nice when it works like it should:
http://img.skitch.com/20081120-8pjt6...xmykbh7r1y.png
Free trades are nice
here usdchf
dibs set up

rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: chf.JPG Size: 134 KB
i entered uj live where should be the tp of the second lot ??
thanks
Quoting imad
i entered uj live where should be the tp of the second lot ??
thanks
Let the winners RUN! Thats the big idea of this method. It would be ideal to catch a longer run and then trail it using dailys / weeklys. Can you imagine having many runners alligned with a strong trend

Low(free) risk entry and unlimited profit possibility! Of course its very tempting to grab a fast profits, but that will ruin this system. Its all told by Peter on this and on the other thread. Please read
thank for your help
i read alot from this thread but it s almost 400 pages long . so i m trying to understand from u guys who already practised this method . and i thank you again for your help . now i can say i understand this method . but i would like to say in all the trades we have enterd now we are against the trend . we are long and the majot trend is obviously short .
what do you think
regards
0 traders viewing now