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The DIBS Method... No Free Lunch continues

  • #6,601
  • Feb 18, 2009 3:18am Feb 18, 2009 3:18am
I actually dont really like swing trading so I dont want to hold positions over night (here in Sydney ) as then I will be stuck until the next London session since I work a day job... that is a LONG time to be away from a position.
Survive and Preserve
  • #6,602
  • Edited 3:39am Feb 18, 2009 3:28am | Edited 3:39am
Cut & Paste


Quote
The opening time is as I stated: GMT 06:00 or EST 01:00.

For anyone still reading this link for DIBS info:

If you have some extremely good reason (like tons of intraday data going back 35 years, and statistical variance maps that indicate something I haven't discovered already---) that indicates a different time for starting your trading day, please go ahead and use it. That will be your own little edge.

Otherwise, you might just want to try using the above-mentioned starting time.

Thanks -bluefox- for stimulating a clarification.

-Peter Crowns-
  • #6,603
  • Feb 18, 2009 3:33am Feb 18, 2009 3:33am
I think we have which part of my interpretation you should use there sir

So stick to 6GMT and be happy.
Survive and Preserve
  • #6,604
  • Edited 4:10am Feb 18, 2009 3:34am | Edited 4:10am
Did anybody grab that short GU Dibs trade? News just came in that made it drop to +100 pips. Nice trade there for a risk of only what 17 pips or so???

Closed trade for +100 pips, 5:1 ratio is fine for me,greed kills me every time.... Anyways, tomorrow is another day and another trade
3/3 wins in DIBS today. Long GU , LONG EU, Short GU

Finished for the day, sleeping time now. See you guys tomorrow, happy dibsing.

EDIT: I DO NOT SAY YOU SHOULD TRADE NEWS... but certainly DONT close your position if you are in free trade. Its like a free go on the roulette table , that is why I left the position open during news release which made it drop down an extra 30 pips, and it was 0 risk... .

Gambling is fun when its the bucket shops money you gambling with and not yours.
Survive and Preserve
  • #6,605
  • Feb 18, 2009 5:16am Feb 18, 2009 5:16am
IB formed on eur/usd

hope the short sell is triggered, new lows are coming...
money... it's a gas baby, can't you take it! venezia
  • #6,606
  • Feb 18, 2009 5:26am Feb 18, 2009 5:26am
Quoting mrmarco
IB formed on eur/usd

hope the short sell is triggered, new lows are coming...
i am long on that one
  • #6,607
  • Feb 18, 2009 5:38am Feb 18, 2009 5:38am
nice for you, my short setup is going away....
money... it's a gas baby, can't you take it! venezia
  • #6,608
  • Feb 18, 2009 5:54am Feb 18, 2009 5:54am
Hi en0x,

Which broker do you use? OANDA tripped all shorts and kicked them out before the big run. :-((

T.

Quoting en0x
Did anybody grab that short GU Dibs trade? News just came in that made it drop to +100 pips. Nice trade there for a risk of only what 17 pips or so???

Closed trade for +100 pips, 5:1 ratio is fine for me,greed kills me every time.... Anyways, tomorrow is another day and another trade
3/3 wins in DIBS today. Long GU , LONG EU, Short GU

Finished for the day, sleeping time now. See you guys tomorrow, happy dibsing.

EDIT: I DO NOT SAY YOU SHOULD TRADE NEWS... but certainly DONT close your position if you are in free trade. Its like a free go on the...
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  • #6,609
  • Feb 18, 2009 5:55am Feb 18, 2009 5:55am
Quoting mrmarco
nice for you, my short setup is going away....
thanks yeah that trade went ok. I may end up re-entering at some stage if it goes close to the mid-point of the IB. (and go long again perhaps)
  • #6,610
  • Feb 18, 2009 6:31am Feb 18, 2009 6:31am
Bent the rules and took profits 3 pips early,

This is not good as I am working on this area of my trading.

I'll get another chance to stick to my guns on the next trade.

As I am posting my original target was hit.

Patience is enduring under pressure
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  • #6,611
  • Feb 18, 2009 7:38am Feb 18, 2009 7:38am
interesting idea but yeah I'm only using an MT4 based account. I know there are some manage take profit things out there but I have no idea how to use them! Need plain and simple instructions!


Quoting en0x
Trumpcard,

I have been toying this idea with oanda.
Putting a long order (or short order) to execute with half your position size.
In oanda you can same currency hedge in the one account, so this will close half the position in theory.

Are you with Oanda then is the next thing, cause MT4 does allow same pair hedge and that wont work then.
  • #6,612
  • Feb 18, 2009 8:46am Feb 18, 2009 8:46am
missed a few good setups today so here goes GU 30min DIBS.
Attached Image
  • #6,613
  • Feb 18, 2009 9:56am Feb 18, 2009 9:56am
Quoting Trumpcard
missed a few good setups today so here goes GU 30min DIBS.
I don't recall reading about M30 in the Peter Crown DIBS posts. Is this your own interpretation?
TRO
  • #6,614
  • Feb 18, 2009 10:23am Feb 18, 2009 10:23am
Quoting Money4Nothing
I don't recall reading about M30 in the Peter Crown DIBS posts. Is this your own interpretation?
Hi M4N, yes it is. I also don't recall reading about M30 either, but hey, an IB in the direction of daily open still makes sense to me. I also recall the founder of this thread posting numerous chart examples using the same timeframe with great results.
  • #6,615
  • Feb 18, 2009 11:27am Feb 18, 2009 11:27am
Quoting Trumpcard
Hi M4N, yes it is. I also don't recall reading about M30 either, but hey, an IB in the direction of daily open still makes sense to me. I also recall the founder of this thread posting numerous chart examples using the same timeframe with great results.
Thanks for replying.

USDJPY looks like one of those free trades.


http://i41.tinypic.com/2v30qz4.gif
TRO
  • #6,616
  • Feb 18, 2009 11:37am Feb 18, 2009 11:37am
Quoting Money4Nothing
Thanks for replying.

USDJPY looks like one of those free trades.


http://i41.tinypic.com/2v30qz4.gif
Hi Folks:
I finally caught a runner, been either sleeping through or just plain making mistakes. It's killing me to let this trade run, fear it will retrace back to B/E. but i'm trying to be a good student, it's fun to watch while it lasts. Thanks to everyone for their continued posts.
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  • #6,617
  • Feb 18, 2009 11:46am Feb 18, 2009 11:46am
Quoting bigjim1958
Hi Folks:
I finally caught a runner, been either sleeping through or just plain making mistakes. It's killing me to let this trade run, fear it will retrace back to B/E. but i'm trying to be a good student, it's fun to watch while it lasts. Thanks to everyone for their continued posts.
You can always exit a portion of your position to lock in profit. Isn't that how Peter Crown said to do it?
TRO
  • #6,618
  • Feb 18, 2009 12:07pm Feb 18, 2009 12:07pm
Quoting Money4Nothing
You can always exit a portion of your position to lock in profit. Isn't that how Peter Crown said to do it?
Hi:
I did take half off at 1:1 Risk/Ratio and letting the 2nd half run, still learning to relax about 2nd half,LOL.

Jim
  • #6,619
  • Feb 18, 2009 12:27pm Feb 18, 2009 12:27pm
Bigjim:

Can you pl post the template/indicators, you are using?

Thanks,

-FX_California
Quoting bigjim1958
Hi Folks:
I finally caught a runner, been either sleeping through or just plain making mistakes. It's killing me to let this trade run, fear it will retrace back to B/E. but i'm trying to be a good student, it's fun to watch while it lasts. Thanks to everyone for their continued posts.
  • #6,620
  • Feb 18, 2009 1:19pm Feb 18, 2009 1:19pm
Quoting bigjim1958
Hi:
I did take half off at 1:1 Risk/Ratio and letting the 2nd half run, still learning to relax about 2nd half,LOL.

Jim
In the struggle between the stone and the water, in time, the water wins.
Chinese Proverb


How much is enough?

http://i44.tinypic.com/2j4c5mh.gif
TRO
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