The DIBS Method... No Free Lunch continues | Page 332 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

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

Peter Crown's DIBS method revisited 14 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

  • #6,621
  • Feb 18, 2009 2:07pm Feb 18, 2009 2:07pm
Quoting FX_California
Bigjim:

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

Thanks,

-FX_California
I'll try, I'm not very good at posting stuff. If it doesn't go through, the IB indicator can be found on this thread, click on the paper clip on the top right hand side of page, it's DIBS Trigger Lines v2a. The daily open indicator is daily open line and I found it on-line somewhere. Hope that helps

Jim
Attached File(s)
File Type: mq4 daily open line.mq4   2 KB | 892 downloads
  • #6,622
  • Feb 18, 2009 2:07pm Feb 18, 2009 2:07pm
Nice trade, Dale.

bending the rules, that is, exiting "3 pips" early is still great.



bigjim,
massive "runner" u caught there..
  • #6,623
  • Feb 18, 2009 2:23pm Feb 18, 2009 2:23pm
Quoting supremeChaos
Nice trade, Dale.

bending the rules, that is, exiting "3 pips" early is still great.



bigjim,
massive "runner" u caught there..
Thanks supreme:
Actually, Dale caught the beginning of it a couple of days ago, I was using a different opening time and missed it, big congrats to him.

Jim
  • #6,624
  • Feb 18, 2009 2:29pm Feb 18, 2009 2:29pm
I use Oanda TDeu, for order entry but I chart with MT4 FXDD.

Umm, did you calculate spread into the order or you just did 1 pip? I like to leave about 1 or 2 pips plus spread. heck leave 3 pips if you find you are getting into trades too early. What is a pip between friends

PS, I also profited from the long that you are talking about, why didnt you stop and reverse? Btw if you did that you NEEDED to watch price action. Actually ALWAYS watch price action is my motto.


Quoting tdeu
Hi en0x,

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

T.
Survive and Preserve
  • #6,625
  • Feb 18, 2009 2:30pm Feb 18, 2009 2:30pm
Quoting Dale
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
Dale:
What is your opinion or recollection of Peter's thoughts on adding to a Free Trade? If another IB forms still in the direction of your Free Trade, would you open another position? would it be for the same amount of your first trade? Interested in yours or anyone of the threads thoughts. Thanks guys.

Jim
  • #6,626
  • Edited 6:07pm Feb 18, 2009 3:24pm | Edited 6:07pm
Ok, nice to wake up to this , now the discretionary part of me wants to take profits. But that would not be following THE PLAN I HAD PRIOR TO TAKING THE TRADE. I already slipped abit earler.

Thanks for the encouragement.
Attached Image (click to enlarge)
Click to Enlarge Name: post13 jpy.gif Size: 14 KB
  • #6,627
  • Feb 18, 2009 4:49pm Feb 18, 2009 4:49pm
Now that is one seriously nice trade, got a little scary there , almost stopping you out (if you kept your stopped at the bottom of the inital IB) but you rode that beast to pay day
Survive and Preserve
  • #6,628
  • Feb 18, 2009 5:02pm Feb 18, 2009 5:02pm
Sydney open is down...

http://i41.tinypic.com/e5o6zk.gif
TRO
  • #6,629
  • Feb 18, 2009 5:26pm Feb 18, 2009 5:26pm
Quote
Dale:
What is your opinion or recollection of Peter's thoughts on adding to a Free Trade? If another IB forms still in the direction of your Free Trade, would you open another position? would it be for the same amount of your first trade? Interested in yours or anyone of the threads thoughts. Thanks guys.

Jim

Hi Jim,

The trade I posted above is an add.

Best regards,

Dale
  • #6,630
  • Feb 18, 2009 6:30pm Feb 18, 2009 6:30pm
Should I or shouldn't I???

http://i44.tinypic.com/2dr77yt.gif
TRO
  • #6,631
  • Feb 18, 2009 10:03pm Feb 18, 2009 10:03pm
Hi en0x,

Price went 3 pips below the low of the IB and I think spread was larger due to the news. It would have been better to enter the trade manually. Do you use stop in orders to open positions?

Do you use IBs from your data provider and trade them with OANDA regardless if the IB shows too in the OANDA chart?

Do you have a account with FXDD or do you use demo as the demo is only 90 days?

Do you know of a good data feed (free forex price feed and MT4) , that has a demo, that doesn't expire?

Regards

Thomas

Quoting en0x
I use Oanda TDeu, for order entry but I chart with MT4 FXDD.

Umm, did you calculate spread into the order or you just did 1 pip? I like to leave about 1 or 2 pips plus spread. heck leave 3 pips if you find you are getting into trades too early. What is a pip between friends

PS, I also profited from the long that you are talking about, why didnt you stop and reverse? Btw if you did that you NEEDED to watch price action. Actually ALWAYS watch price action is my motto.
  • #6,632
  • Feb 18, 2009 10:46pm Feb 18, 2009 10:46pm
i use fxpro demo for my mt4 charting needs and is free an no expire.

www.fxpro.com

i use oanda to place my real money live trades.

Quoting tdeu
Hi en0x,

Price went 3 pips below the low of the IB and I think spread was larger due to the news. It would have been better to enter the trade manually. Do you use stop in orders to open positions?

Do you use IBs from your data provider and trade them with OANDA regardless if the IB shows too in the OANDA chart?

Do you have a account with FXDD or do you use demo as the demo is only 90 days?

Do you know of a good data feed (free forex price feed and MT4) , that has a demo, that doesn't expire?

Regards

Thomas
  • #6,633
  • Feb 18, 2009 10:56pm Feb 18, 2009 10:56pm
Quoting altrader
i use fxpro demo for my mt4 charting needs and is free an no expire.

www.fxpro.com

i use oanda to place my real money live trades.
I heard broco is also good!
check it out..

pop
{Promotion Removed}
  • #6,634
  • Feb 18, 2009 11:56pm Feb 18, 2009 11:56pm
Can you post that chart? The only entry I see on GU yesterday was a long then a short, if you talking about the long that BARELY poked its nose out short, well I manually traded that one and I didnt consider it far enough to be a break. No idea why, just I had a hunch not to take it. OH yes, I know why, that level is a massive S/R , cant you see it? I didn't want a single pip touch and reverse on it, which is what happened really.

Sorry, I dont even look at my oanda charts at all, so I dont even look at the price. I only chart and trade what I see on FXDD and what I saw wasnt good enough for me to trade it. call it luck maybe?
Survive and Preserve
  • #6,635
  • Feb 18, 2009 11:58pm Feb 18, 2009 11:58pm
Jim:

Thanks,

-FX_California
Quoting bigjim1958
I'll try, I'm not very good at posting stuff. If it doesn't go through, the IB indicator can be found on this thread, click on the paper clip on the top right hand side of page, it's DIBS Trigger Lines v2a. The daily open indicator is daily open line and I found it on-line somewhere. Hope that helps

Jim
  • #6,636
  • Feb 19, 2009 12:57am Feb 19, 2009 12:57am
Yes, That's the one

For a chart look here.
http://www.forexfactory.com/showpost...postcount=6608

At Saxobank the low of the IB wasn't penetrated either. So OANDA was out for some stop hunting I guess.

I traded the first long of the day as well for a couple of pips.

You're right - s/r is around 1.4220-40.

Do you care for a second time through - like price breaks high of IB, then reverses, takes out low only to take out the high again and run? Does it makes sense to trade an IB more than twice for this purpose?
We see this behavior very often at the beginning of the session.

T.

Quoting en0x
Can you post that chart? The only entry I see on GU yesterday was a long then a short, if you talking about the long that BARELY poked its nose out short, well I manually traded that one and I didnt consider it far enough to be a break. No idea why, just I had a hunch not to take it. OH yes, I know why, that level is a massive S/R , cant you see it? I didn't want a single pip touch and reverse on it, which is what happened really.

Sorry, I dont even look at my oanda charts at all, so I dont even look at the price. I only chart and trade what I...
  • #6,637
  • Feb 19, 2009 1:00am Feb 19, 2009 1:00am
depends on momentum I guess, if it creeps up to a S/R level then no.

btw, watch variable spread. Its a bastard.
Survive and Preserve
  • #6,638
  • Feb 19, 2009 1:03am Feb 19, 2009 1:03am
Potential dibs...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
Click to Enlarge Name: uj.gif Size: 24 KB
Survive and Preserve
  • #6,639
  • Feb 19, 2009 1:27am Feb 19, 2009 1:27am
Entered Gu on DIBS trade
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
Survive and Preserve
  • #6,640
  • Feb 19, 2009 1:30am Feb 19, 2009 1:30am
Bare in mind, this is a very scary trade, sitting right on .14300...
Survive and Preserve
4 traders viewing now