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The DIBS Method... No Free Lunch continues

  • #6,121
  • Nov 27, 2008 12:26am Nov 27, 2008 12:26am
I'm in the GJ, EU, and EJ.

Waiting for 1:1 R/R to hit.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,122
  • Edited 3:04am Nov 27, 2008 2:49am | Edited 3:04am
Corre...
I'll save you some time and money.
The DIBS system does not make money over time. I have back tested it with a variety of different parameters and variables.

The DIBS methodology is so simple, if it worked; the 'edge' would have been traded away decades ago.

Like a lot of methods, DIBS gives the illusion that it works from certain fantastic trades which really stick out with there beautiful logic. However, these are equalled by lots of whipsaw bars.

It would be great if DIBS did have a 'positive expectation', because it means we could make money for doing virtually nothing other than a couple of mouse clicks in the morning.... and thats the forex dream.
  • #6,123
  • Nov 27, 2008 8:20am Nov 27, 2008 8:20am
Quoting highneb
Corre...
I'll save you some time and money.
The DIBS system does not make money over time. I have back tested it with a variety of different parameters and variables.

The DIBS methodology is so simple, if it worked; the 'edge' would have been traded away decades ago.

Like a lot of methods, DIBS gives the illusion that it works from certain fantastic trades which really stick out with there beautiful logic. However, these are equalled by lots of whipsaw bars.

It would be great if DIBS did have a 'positive expectation', because it means we could...
Ha, ha
been trading this system a while now, but i dont take every dibs signal there is mate...U have to look for other things as well....And it IS VERY powerful with the right tools along with it...
  • #6,124
  • Nov 27, 2008 9:53am Nov 27, 2008 9:53am
DIBS method updated
patience is the name of this game......

rgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: DIBS.JPG Size: 169 KB
  • #6,125
  • Nov 27, 2008 10:24am Nov 27, 2008 10:24am
Kojak,

do you use something else than S/R?
  • #6,126
  • Nov 27, 2008 10:55am Nov 27, 2008 10:55am
Quoting highneb
Corre...
I'll save you some time and money.
The DIBS system does not make money over time. I have back tested it with a variety of different parameters and variables.

The DIBS methodology is so simple, if it worked; the 'edge' would have been traded away decades ago.

Like a lot of methods, DIBS gives the illusion that it works from certain fantastic trades which really stick out with there beautiful logic. However, these are equalled by lots of whipsaw bars.

It would be great if DIBS did have a 'positive expectation', because it means we could...
I'm thankful to Jaroo for his selfless help and untiring service to this community but I somewhat concur with highneb.

I don't see how anyone could survive profitably trading DIBS alone over the long term. We all know if we take all the DIBS signal on the pairs PC mentioned we'd be absolutely nowhere.

I also believe there is no clearly definable method to select high probability DIBS trades. Maybe for you but not for me. I think if you're DIBS trades have gone right this far whether you use stochastics or support and resistance levels you've simply been lucky.

There dosen't seem to be any clearly definable edge, the theory about floor traders pushing the FOREX market in the direction of the day's trend during inside bars sounds rather far fetched to me. Folks we're talking about the FOREX market not some single tradeable instument like the dow on a regulated exchange. This is am enormous OTC market. I really don't think floor traders could do anything to influence the market the dow and the S&P perhaps but not the major FOREX pairs.

Anyway I do hope I'm wrong and am happy some people find it profitable.

Happy trading all
  • #6,127
  • Nov 27, 2008 11:34am Nov 27, 2008 11:34am
I started a thread called the fractal approach to s+r which is my primary trading method but have been looking at the IB trade for a long time as , for want, of a better word a nanny for my primary trade plan. I would love any input you can give on this. Also I thanked Bemac and NAL for their help earlier but forgot to thank Jaroo, sorry man and thanks.

My rules for my fractal approach have already been posted on that thread so I wont labor the point but I just wanted to give some examples of how they can be enhanced by IB's.

I'll give an example from today using USD/CHF I had used my rules at 1.00am GMT last night (for me) and was watching for support at the weekly R1 pivot at 1.1953, I had a buy limit just below that and missed getting filled by 2 pips. But if you look at the 1H chart an IB was formed a few hours later that proved to, so far, be good.

Now I'm wont start doing this all the time but my fractal trade goes through periods of losses which I never care about as the periods of wins far out weigh them in ROI and win rate. However it would be nice to use an IB nanny to guard against them.

The first chart shows how I got the area of support from the 4H chart and that market flow is up so I'm only looking to go long for the session. The 2nd chart shows how I couldn't quite work out at that early stage (long before the start of the UK session exactly where to place my buy limit order. Had I waited for the IB having already ascertained I was only going to go long until market flow was broken to the downside, I would have had a great entry for my trade.

Please realize this is not the first time I've seen it happen, it's been consistent. I live in Arizona and am really not into the idea of staying up all night trading. What I have been thinking is to set an alert to wake me up when the support area gets hit them set my alarm for every hour to look for bars. My wife is really thrilled with this idea.

I would only do this after my primary plan has taken 2 or three consecutive losses.
Anyway, what do you think, I have to apologize now because it's thatksgiving and I mght not be able to answer all that many post immediatly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4h swiss.gif Size: 31 KB
Click to Enlarge Name: 1h swiss.gif Size: 34 KB
Sincere and humble thanks, If.
  • #6,128
  • Nov 27, 2008 11:42am Nov 27, 2008 11:42am
This does go against what Peter says about the 6.00am open and I realize that and I'm nowhere near the trader he is so take this as you will.
Sincere and humble thanks, If.
  • #6,129
  • Nov 27, 2008 12:45pm Nov 27, 2008 12:45pm
that's why I asked for the exact rules, because the simple "Internal Bar Breakout" doesn't really carry us anywhere.

so... how are you trading this IB system? can someone explain please *_*?
  • #6,130
  • Nov 27, 2008 1:36pm Nov 27, 2008 1:36pm
Quoting highneb
Corre...
I'll save you some time and money.
The DIBS system does not make money over time. I have back tested it with a variety of different parameters and variables.

The DIBS methodology is so simple, if it worked; the 'edge' would have been traded away decades ago.

Like a lot of methods, DIBS gives the illusion that it works from certain fantastic trades which really stick out with there beautiful logic. However, these are equalled by lots of whipsaw bars.

It would be great if DIBS did have a 'positive expectation', because it means we could...
I'm a newbie trader (my 5th week live going on 6) and I pretty much take all the DIBS trades when I do trade. I've taken a 50% draw down in that time and now built the account back up about 20% over my initial investment. This is trading DIBS straight up with some stupid newbie moves. Just wanted to give people an idea of my experience so far in this very short time frame

I was sitting on the fence reading about trading for a while and DIBS stuck a cord with me on some level and it was what made me final open a live account and start trading. I'm glad I did, if for anything I'm still in the game and ahead 20% AND the biggest benefit is that is pure GOLD is the Psychological piece of trading has really hit home. I could never image the pressure of trading live vs. demo. It is definitely an experience and I'm having some fun as well.

Will I have this account in a few more weeks / months? I'll be honest and let ya know. My plan is to be here for a long time. Having this as the only method I know to trade maybe puts me in a different camp.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,131
  • Nov 27, 2008 1:41pm Nov 27, 2008 1:41pm
Quoting Oedipus100
This does go against what Peter says about the 6.00am open and I realize that and I'm nowhere near the trader he is so take this as you will.
Peter did say he had a friend that traded at 00:00 GMT, but he traded the Yen pairs. the 06:00 GMT was chosen because it was discovered that "statistically" it is the best time (If I recall the post correctly). I take the to mean the probabilities for wins are more in your favor at that time vs. another time.

But nothing to stop you from picking the time you think is the "Daily Open".
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,132
  • Nov 27, 2008 2:54pm Nov 27, 2008 2:54pm
...point taken about the need for filters when selecting IBs. Which filters work?

DIBS is one of the oldest methods of trading. People were trying this long before the invention of the first computer.

Finding any 'pattern' which leads to a 'positive expectation' (eg 55% chance of winning), is the goal of every trader. The market is extremely efficient at closing all the windows of opportunity that are discovered by traders.

I think a question that forex traders need to ask themselves is If DIBS (or any other system) has a real, definable POSITIVE EXPECTATION, then how long before the big boys trade the 'edge' down to zero. The answer in today’s market, is: a very short time indeed.

I'm not anti DIBS. I've looked at it with enthusiasm. I just don't see how something this simple and this old can work in today’s market.... comments?
  • #6,133
  • Nov 27, 2008 8:29pm Nov 27, 2008 8:29pm
Quoting highneb
[font=&quot]...point taken about the need for filters when selecting IBs. Which filters work?

DIBS is one of the oldest methods of trading. People were trying this long before the invention of the first computer.

Finding any 'pattern' which leads to a 'positive expectation' (eg 55% chance of winning), is the goal of every trader. The market is extremely efficient at closing all the windows of opportunity that are discovered by traders.

I think a question that forex traders need to ask themselves is If DIBS (or any other system) has a real, definable...
Dear Sir,

just share with you all
find out this chart 4tf and the 1hrs tf may be this can help us to identify which IB breakout and make a profit, and when you should be entry,close and hold your position order to be FTT
S+R line and position of the IB Break out up or down which one should be more profit.....

you can use stoch indi 8,3,2 correction your direction and 5SMA,55EMA, 220EMA to suppot your analyst

Brgds,
my30marahaba
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DIBS method 1.JPG Size: 177 KB
Click to Enlarge Name: DIBS method.JPG Size: 174 KB
  • #6,134
  • Nov 27, 2008 10:31pm Nov 27, 2008 10:31pm
Quoting highneb
...point taken about the need for filters when selecting IBs. Which filters work?

DIBS is one of the oldest methods of trading. People were trying this long before the invention of the first computer.

Finding any 'pattern' which leads to a 'positive expectation' (eg 55% chance of winning), is the goal of every trader. The market is extremely efficient at closing all the windows of opportunity that are discovered by traders.

[font=&quot]I think a question that forex traders need to ask...
Why does the DIBS method work in the first place?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6,135
  • Nov 28, 2008 1:52am Nov 28, 2008 1:52am
my30marahaba,

What is this blue and yellow indicator that you have on your chart?

Cheers
  • #6,136
  • Nov 28, 2008 2:13am Nov 28, 2008 2:13am
Quoting Lapin
my30marahaba,

What is this blue and yellow indicator that you have on your chart?

Cheers
Dear Lapin,

Here my indi and DIBSmtd.tpl

Rgds,
my30marahaba
Attached File(s)
File Type: mq4 Center of Gravity.mq4   5 KB | 678 downloads
File Type: ex4 Center of Gravity 1.ex4   7 KB | 565 downloads
File Type: ex4 Center of Gravity.ex4   7 KB | 625 downloads
File Type: tpl DIBSmtd.tpl   14 KB | 969 downloads
File Type: mq4 Magnified Market Price.mq4   1 KB | 716 downloads
File Type: ex4 Magnified Market Price.ex4   3 KB | 563 downloads
  • #6,137
  • Nov 28, 2008 2:51am Nov 28, 2008 2:51am
Wow. .. impressive stuff.


..and I thought DIBS was a simple technique.
  • #6,138
  • Nov 28, 2008 3:28am Nov 28, 2008 3:28am
Quoting LasVahGoose
Why does the DIBS method work in the first place?
DIBS 'should work' because the IB represents a pause and indecision (regarding direction) in the market. This leads to short term tension... and a breakout, the momentum of which should give a profit.
  • #6,139
  • Nov 28, 2008 4:05am Nov 28, 2008 4:05am
Quoting highneb
DIBS 'should work' because the IB represents a pause and indecision (regarding direction) in the market. This leads to short term tension... and a breakout, the momentum of which should give a profit.

i'm agree with you sir,
here the sample of the ib break out on usdchf today
price pullback again to the top.....

brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: DIBS breake out.JPG Size: 189 KB
  • #6,140
  • Nov 28, 2008 5:22am Nov 28, 2008 5:22am
Quoting highneb
Wow. .. impressive stuff.


..and I thought DIBS was a simple technique.
It is simple. Is you stay away from all those indicators...

P.S. You do need to filter out didgy DIBS (but "Centre of the Gravity" is NOT the way to do it - have a look at NoBrainer and James16 for clues what REALLY works...)
One Chart is Worth Ten Thousand Words.
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