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  • #501
  • Dec 12, 2008 5:37am Dec 12, 2008 5:37am
IBs on both of these pairs but I don't think either are a good trade. Don't know which way the EUR/JPY is trending and the EUR/CHF trade would have to large of stop losses and to big of an initial move for entry to the down side. Am I reading these right or is there a good trade here?
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  • #502
  • Dec 12, 2008 6:49am Dec 12, 2008 6:49am
Good job, but if you had your TP set at the next pivot, ( Which you should have) you hit your BE stop when it retraced. If you just left the trade on to shoot for your 31, you would have gotten your pips 1 1/2 hours or so later. Good job either way.

Jim

Quoting juicyt
IB on UsdChf. Short trade setup with ATR on 31 and stock coming down. About a 50pip stop but none the less it looks to be a good short trade.
  • #503
  • Dec 12, 2008 6:53am Dec 12, 2008 6:53am
The "Idea" of the Modified IB gives so many positive trades you can just shut it down once you get your pips for the day. Once we all get to a certain point and accounts are large enough we will be moving on to the 1 Hr TF, then 4 Hr and so on. If it works out the way I think it will.

Jim



Quoting iffyfx
very cool strategy ... thank you to h1h1 for putting the effort in ...

i had a question for everyone trading this method ... particuarly the newbies ...

how much screen time does this strategy require. given its using 30min TF's, i'm assuming everyone is pretty much sat in front of their screen full time?

thanks in advance for the replies. and best of luck with your trading.
iffy
  • #504
  • Dec 12, 2008 6:56am Dec 12, 2008 6:56am
Your 89 is wrong, check the new one at the beginning of the thread. I have updated since the 7th of December. Please let me know if the template is still wrong,

Jim

Quoting oblo
I am doubtful on this trade because even if the market opened below yesterday open, the set up to go short seems against the trend...
Correct?

Ramon
  • #505
  • Dec 12, 2008 6:58am Dec 12, 2008 6:58am
Quoting mackus
IBs on both of these pairs but I don't think either are a good trade. Don't know which way the EUR/JPY is trending and the EUR/CHF trade would have to large of stop losses and to big of an initial move for entry to the down side. Am I reading these right or is there a good trade here?
I think we're looking at flags on UJ and EJ currently, correct me if I'm wrong guys.

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  • #506
  • Dec 12, 2008 7:04am Dec 12, 2008 7:04am
If someone could come up with an indicator that alerts to the specific pair would keep us from having to page thru all the time. Any coders out there.

Jim
  • #507
  • Dec 12, 2008 7:15am Dec 12, 2008 7:15am
Quoting jonaslt
I think we're looking at flags on UJ and EJ currently, correct me if I'm wrong guys.

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Attachment
I had no IB on EJ so no trade for me. No real trend either at that time.
And UJ was a short setup but it would break right into the pivot so I'd pass on that too.

Is that how you saw them Jim?
"Even if you fall down face first, you still went forward."
  • #508
  • Dec 12, 2008 7:16am Dec 12, 2008 7:16am
Quoting hard1head1
Good job, but if you had your TP set at the next pivot, ( Which you should have) you hit your BE stop when it retraced. If you just left the trade on to shoot for your 31, you would have gotten your pips 1 1/2 hours or so later. Good job either way.

Jim
Quote
Originally Posted by juicyt http://www.forexfactory.com/images/buttons/viewpost.gif
IB on UsdChf. Short trade setup with ATR on 31 and stock coming down. About a 50pip stop but none the less it looks to be a good short trade.
Hi im interested witrh this IB system after reading it from the first page. So for UsdChf my sell order will be at 1.1773. Am i right?
  • #509
  • Dec 12, 2008 7:19am Dec 12, 2008 7:19am
Lot of USD news coming out so sitting out either way, I don't think we'll move much until then.
  • #510
  • Dec 12, 2008 7:32am Dec 12, 2008 7:32am
Quoting msaid
Hi im interested witrh this IB system after reading it from the first page. So for UsdChf my sell order will be at 1.1773. Am i right?
It's not a trade I would take, but, what you should do is tell why you think that you should take the trade then Jim or someone else could help you with your analysis of the trade.
"Even if you fall down face first, you still went forward."
  • #511
  • Dec 12, 2008 7:34am Dec 12, 2008 7:34am
Trading when the market is like this is just asking for it. I have quit for the weekend as I don't trade on Friday after 8 AM EST.

Jim

Quoting juicyt
I had no IB on EJ so no trade for me. No real trend either at that time.
And UJ was a short setup but it would break right into the pivot so I'd pass on that too.

Is that how you saw them Jim?
  • #512
  • Dec 12, 2008 7:36am Dec 12, 2008 7:36am
That would be the entry, but I dont recommend it.

Quoting msaid
Hi im interested witrh this IB system after reading it from the first page. So for UsdChf my sell order will be at 1.1773. Am i right?
  • #513
  • Dec 12, 2008 7:38am Dec 12, 2008 7:38am
But it will probablty come thru to the S1 pivot. Just no volume right now.

Jim
  • #514
  • Dec 12, 2008 7:39am Dec 12, 2008 7:39am
Quote
juicyt Quote:
Originally Posted by msaid http://www.forexfactory.com/images/buttons/viewpost.gif
Hi im interested witrh this IB system after reading it from the first page. So for UsdChf my sell order will be at 1.1773. Am i right?

It's not a trade I would take, but, what you should do is tell why you think that you should take the trade then Jim or someone else could help you with your analysis of the trade.

Just to confirm if i understand this system after reading it. Btw my trade already in for short.
  • #515
  • Dec 12, 2008 7:42am Dec 12, 2008 7:42am
Quoting hard1head1
That would be the entry, but I dont recommend it.
Why you not recommend it? To play safe i iwll just settle it for few pips.
  • #516
  • Dec 12, 2008 10:11am Dec 12, 2008 10:11am
Is it possible to move the lines the DIBs indicator draws to the signal bar instead of the IB bar? I think if it showed the actual buy and sell points it would paint a better picture.
  • #517
  • Edited 12:20pm Dec 12, 2008 10:16am | Edited 12:20pm
Finally, after almost 3 months, had to open a hotmail account to get the verification email so I could post.

Jim,

Let me first say thank you for this thread. What a wealth of solid information.

Quoting hard1head1
If someone could come up with an indicator that alerts to the specific pair would keep us from having to page thru all the time. Any coders out there.

Jim
I wrote this after noticing some algorithmic errors in the DIBS indicator I was using. While I am not an experienced coder yet, at least with Meta Quotes or any other "C" like language, it works well in alpha testing on my system and includes an "alert" feature. It also includes an adjustable offset for the indicator lines to give a better indication of the buy/sell. If you think there is anything missing, let me know and I will try to include it.

Hope this helps.

Bob
Attached File(s)
File Type: mq4 H1H1_IB_Indicator.mq4   6 KB | 469 downloads
  • #518
  • Dec 12, 2008 10:36am Dec 12, 2008 10:36am

I wrote this after noticing some algorythmic errors in the DIBS indicator I was using. While I am not a coder yet, at least with Meta Quotes of any other "C" like language, it works well in alpha testing on my system and includes an "alert" feature. It also includes an adjustable offset for the indicator lines to give a better indication of the buy/sell. If you think there is anything missing, let me know and I will try to include it.

Hope this helps.

Bob[/quote]

Thank you, I like it.
  • #519
  • Dec 12, 2008 11:12am Dec 12, 2008 11:12am
Here's an update to last night's trade.

The euro moved right to the DP after that countertrend IB. Right now, it looks like we'll be stuck in a range between the two lines.

The Usd/cad IB pushed us straight up to the 89 sma which is where I took profit at. These were nice little trades. I'm done for the week as I'm driving down to Maryland today. Have a great weekend ladies and gents. Hopefully I'll be able to post over the weekend.
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I dream, therefore I become.
  • #520
  • Dec 12, 2008 11:21am Dec 12, 2008 11:21am
Right now, we're seeing a test of the trendline after we broke it on the gbp/usd. I would look for an IB to short in this area. We are under the 89 sma as well, so this would be a primo trade if triggered off.
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I dream, therefore I become.
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