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The DIBS Method... No Free Lunch continues

  • #6,681
  • Feb 20, 2009 12:18pm Feb 20, 2009 12:18pm
Quoting bigjim1958
Hi:
Thanks for the quick reply. Thanks for clearing up what opening time you were using, I was thinking it was just London. Continued good trading and thanks for contribution
You are welcome. But for the record, I am not trying to add anything to, to take anything away from or to change anything Peter Crown said about DIBS. DIBS is just fine the way Peter Crown presented it. Thank you, Peter Crown.
TRO
  • #6,682
  • Feb 20, 2009 1:41pm Feb 20, 2009 1:41pm
SETUP...

http://i42.tinypic.com/33ju64y.gif
TRO
  • #6,683
  • Feb 20, 2009 2:01pm Feb 20, 2009 2:01pm
SETUP...

http://i39.tinypic.com/zssphd.gif
TRO
  • #6,684
  • Feb 21, 2009 1:28am Feb 21, 2009 1:28am
Hi Money4Nothing

in your charts I see an indicator that tell you of how many pips is composed the inside bar, and nother another one that indicates the remaining time to the bar end.

Can you tell me where I can download the two indicators?

Many thanks
money... it's a gas baby, can't you take it! venezia
  • #6,685
  • Feb 21, 2009 5:21am Feb 21, 2009 5:21am
Here is the indicator, i think he just sets it for one pair


Quoting mrmarco
Hi Money4Nothing

in your charts I see an indicator that tell you of how many pips is composed the inside bar, and nother another one that indicates the remaining time to the bar end.

Can you tell me where I can download the two indicators?

Many thanks
Attached File(s)
File Type: mq4 TRO_PipsToDailyOpen.mq4   9 KB | 979 downloads
  • #6,686
  • Feb 21, 2009 7:50am Feb 21, 2009 7:50am
Quoting Money4Nothing
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
Hi Money:
Very wise grasshopper, the water eventually turned this stone all the way back to B/E. I was wondering, what are you T/P rules usually. I know you mentioned you go for quick profits most of the time, but it you're lucky enough to catch a runner like this, how much would you let it retrace. Trailing stop, certain percentage of retracement max, etc. Any help you can give would be great. Trying to follow Peter's example, but watching all that disapear was tough.

Jim
  • #6,687
  • Feb 22, 2009 11:49am Feb 22, 2009 11:49am
Quoting Money4Nothing
SETUP...

http://i39.tinypic.com/zssphd.gif
like your charts where can i find all those indi??thx
  • #6,688
  • Feb 22, 2009 3:55pm Feb 22, 2009 3:55pm
Quoting bigjim1958
Hi Money:
Very wise grasshopper, the water eventually turned this stone all the way back to B/E. I was wondering, what are you T/P rules usually. I know you mentioned you go for quick profits most of the time, but it you're lucky enough to catch a runner like this, how much would you let it retrace. Trailing stop, certain percentage of retracement max, etc. Any help you can give would be great. Trying to follow Peter's example, but watching all that disapear was tough.

Jim
Unless I catch a runner, I am out when price stops moving. Sometimes when I catch a runner, I am out when price stops moving. Price is fluid(water). Rules are rigid(stone). You can always place another trade.
TRO
  • #6,689
  • Edited Feb 23, 2009 2:30pm Feb 22, 2009 9:01pm | Edited Feb 23, 2009 2:30pm
Quote
Just wanted to show a picture of the yen trade from yesterday that I luckily didn't close out. Here's hoping this is the beginning of one of those big trends that Peter talks about. Dale, are you still in this? Take care.

Back online
Attached Image(s) (click to enlarge)
Click to Enlarge Name: post13jpy.gif Size: 17 KB
Click to Enlarge Name: post14jpy.gif Size: 17 KB
  • #6,690
  • Feb 22, 2009 9:10pm Feb 22, 2009 9:10pm
SETUP...

http://i40.tinypic.com/28vqfwn.jpg
TRO
  • #6,691
  • Feb 23, 2009 2:50pm Feb 23, 2009 2:50pm


http://i41.tinypic.com/qqd7aa.gif
TRO
  • #6,692
  • Feb 23, 2009 6:04pm Feb 23, 2009 6:04pm
Quoting en0x
guys, I want to start a chat channel for Dibs, whos up for it?

Please let me know cause I have an IRC server I already chat on we can make a room specifically for DIBS
Sounds like a great idea, I'm in.
  • #6,693
  • Feb 23, 2009 6:52pm Feb 23, 2009 6:52pm
See you start of UK session.
Survive and Preserve
  • #6,694
  • Feb 23, 2009 7:43pm Feb 23, 2009 7:43pm


http://i42.tinypic.com/iohngp.gif
TRO
  • #6,695
  • Feb 24, 2009 1:19am Feb 24, 2009 1:19am
Hi folks:
I've been very fortunate the last two days to catch two good trades. I usually close out half my position at approx 1:1 and let the other half run. In the picture, you can see it retraced pretty severely, could folks give their input on what kind of trailing stop, either number of pips, % of gain retracement,etc. that you use. Thanks

Jim
  • #6,696
  • Feb 24, 2009 1:20am Feb 24, 2009 1:20am
Quoting bigjim1958
Hi folks:
I've been very fortunate the last two days to catch two good trades. I usually close out half my position at approx 1:1 and let the other half run. In the picture, you can see it retraced pretty severely, could folks give their input on what kind of trailing stop, either number of pips, % of gain retracement,etc. that you use. Thanks

Jim
Works better when you include the photo. LOL

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: dibs 2-24-09.gif Size: 11 KB
  • #6,697
  • Feb 24, 2009 2:54am Feb 24, 2009 2:54am
Quoting bigjim1958
Hi folks:
I've been very fortunate the last two days to catch two good trades. I usually close out half my position at approx 1:1 and let the other half run. In the picture, you can see it retraced pretty severely, could folks give their input on what kind of trailing stop, either number of pips, % of gain retracement,etc. that you use. Thanks

Jim
Jim, I was never one to follow rules either. That trade is not a DIBS trade by the guidelines in the first post of this thread. i.e. not taken in the direction of the day. Are you setting a straddle on the IB?

To answer your question. I usually manage my trade using price action on the hourly. If it lasts more than an hour or two I'm likely to move up a time frame. What I want is a "runner". It rarely happens, unfortunately...
Gone to a better place
  • #6,698
  • Feb 24, 2009 3:01am Feb 24, 2009 3:01am
Thanks for sharing this nice charts with all. This system is very easy and good! Hope you all make Pips with it?

Regards
{Promotion Removed}
  • #6,699
  • Feb 24, 2009 6:02am Feb 24, 2009 6:02am
Quoting smikester
Jim, I was never one to follow rules either. That trade is not a DIBS trade by the guidelines in the first post of this thread. i.e. not taken in the direction of the day. Are you setting a straddle on the IB?

To answer your question. I usually manage my trade using price action on the hourly. If it lasts more than an hour or two I'm likely to move up a time frame. What I want is a "runner". It rarely happens, unfortunately...
Wow:
I didn't even realize I went against Peter's rules, better to be lucky then good. I work all day on the East Coast and then get up in the middle of the night to trade, screwed up that one. MM is extremely important and would appreciate any input.

Jim
  • #6,700
  • Feb 24, 2009 6:41am Feb 24, 2009 6:41am
Couldn't have put it better misself! I don't like telling people what to do here but I can tell you that conventional money management will not work with the Dibs method. The whole point is that each trade should risk a miniscule amount of your account, but gets you in, and in the right direction.

If you (like me) are attracted to this simple strategy then you and I have Bemac to thank who started this thread here:

http://www.forexfactory.com/showthread.php?t=56907

It makes an interesting read, I think. We were lucky enough to get an input from Peter Crowns.

Jarroo continued the idea by summing up the strategy with the help of others and collating Mr Crown's posts here:

http://www.forexfactory.com/showthread.php?t=86766

This one is worth reading if only for the clarity of Jarroo's charting and explanations.
Gone to a better place
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