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The DIBS Method... No Free Lunch continues

  • #6,861
  • Mar 6, 2009 12:47pm Mar 6, 2009 12:47pm
Quoting JimmyB
Tro
Why are you just posting your charts and saying nothing
it looks like you are just trying to get PM messages so you can sell your indicators or should I say donation
Wow:
I never made the connection that money4nothing could be TRO. I hope not. Actually money, since you don't use the daily open as a guide for your trades, don't they actually belong in the inside bar thread and not the DIBS thread?

Jim
  • #6,862
  • Edited 6:06pm Mar 6, 2009 3:50pm | Edited 6:06pm
Quoting bigjim1958
Wow:
I never made the connection that money4nothing could be TRO. I hope not. Actually money, since you don't use the daily open as a guide for your trades, don't they actually belong in the inside bar thread and not the DIBS thread?

Jim
Some people are just looking to cause trouble, why I don't know. JimmyB (with 5 posts) doens't allow PMs or email, so I guess he just has a chip on his shoulder. Why, I don't know. Perhaps JimmyB is really TRO or trying to get more people on FF to know of TRO:

http://www.forexfactory.com/showpost...6&postcount=24

Who are you going to accuse this person of being? Please stop this silliness.

I am posting charts showing DIBS setups like I have always done. Indicators have nothing to do with the setup. I haven't mentioned the indicators by name or where I got them and I won't. Case closed.

The daily open is the guide for DIBS trades. When you trade in the direction of the daily open, you have the possibility that price may make a big move. I use the most recent session open rather than just the London open to decide which way to trade. If the price is above the NY open and below the London open, I will favor the long trade because the NY open is the most recent open. After the Asian market opens, I will then use that open to decide.
TRO
  • #6,863
  • Mar 7, 2009 2:55am Mar 7, 2009 2:55am
Hi

I would like to check on the method for buying 2 lots:

1 Limit set at the Stop Loss distance and the other left to run for a free ride.

I tried it yesterday but found out that the main problem is that when you get stopped out for both lots, you lose twice as much and the accuracy of the system is not extremely high.

Does anyone have this feeling too?

What is the accuracy of the system?

Was stopped out 4 times out of 5 trades yesterday.

Anyone has anything to suggest?
  • #6,864
  • Edited 10:27am Mar 7, 2009 10:12am | Edited 10:27am
Thanks for the post Money

Best regards

Dale
  • #6,865
  • Edited 8:13pm Mar 7, 2009 10:21am | Edited 8:13pm
Did Peter Crowns present a ____________ ?

System

Method

Concept

Trading plan

Other


Cast your vote.
  • #6,866
  • Mar 7, 2009 12:51pm Mar 7, 2009 12:51pm
Quoting Dale
Thanks for the post Money

Best regards

Dale
I see you changed your post, Dale. To answer your question, "Why are people giving M4N a hard time?", it's called a "witch hunt". It's obvious that M4N uses some of TRO's indicators. But that doesn't mean M4N is TRO. But it seems like if you post a chart that uses a TRO indicator, you are called a "witch" and must be "burned at the stake" (banned). I agree with M4N, this silliness needs to stop. It's really getting old and doens't do anything for the FF community except create dissention.
  • #6,867
  • Mar 7, 2009 12:53pm Mar 7, 2009 12:53pm
Quoting Dale
Did Peter Crowns present a ____________ ?

System

Method

Concept

Trading plan

Other


Cast you vote.
Yes, DIBS is a system. It defines the entries and exits.

Yes, DIBS is a method.

Yes, DIBS is a concept.

No, DIBS is not a complete trading plan.
  • #6,868
  • Mar 8, 2009 11:33am Mar 8, 2009 11:33am
Quoting Dale
Did Peter Crowns present a ____________ ?

System

Method

Concept

Trading plan

Other


Cast your vote.

Interesting question. One things for sure, Peter Crowns method does not work. It doesn't take a lot of back testing to work that out. Sure there are a lot of impressive looking trades, but these are equalled by the losses on short term whip-saws.
  • #6,869
  • Mar 8, 2009 11:38am Mar 8, 2009 11:38am
The concept of 'inside bars' is far too primitive to work. Computers would have traded out any advantage offered by this simple strategy years ago.

If there are people out there who are making real $$ from dibs (not just a few pips here and there, I mean good consistant money), it would be great to hear your story. But looking at the back-test results, thats pretty much impossible. Sorry guys, Peter Crown has not given you the keys to the mint, and it doesn't matter how much you 'tweak' it and change the rules, dibs is a break-even system.
  • #6,870
  • Mar 8, 2009 2:01pm Mar 8, 2009 2:01pm
Quoting highneb
The concept of 'inside bars' is far too primitive to work. Computers would have traded out any advantage offered by this simple strategy years ago.

If there are people out there who are making real $$ from dibs (not just a few pips here and there, I mean good consistant money), it would be great to hear your story. But looking at the back-test results, thats pretty much impossible. Sorry guys, Peter Crown has not given you the keys to the mint, and it doesn't matter how much you 'tweak' it and change the rules, dibs is a break-even system.
What do you mean by "too primitive to work"? Trading is primitive. If DIBS is a "breakeven" system, then proper money management should allow it to become a profitable system.
TRO
  • #6,871
  • Mar 8, 2009 3:31pm Mar 8, 2009 3:31pm
Quoting highneb
The concept of 'inside bars' is far too primitive to work. Computers would have traded out any advantage offered by this simple strategy years ago.

If there are people out there who are making real $$ from dibs (not just a few pips here and there, I mean good consistant money), it would be great to hear your story. But looking at the back-test results, thats pretty much impossible. Sorry guys, Peter Crown has not given you the keys to the mint, and it doesn't matter how much you 'tweak' it and change the rules, dibs is a break-even system.
Then your MM is wrong wrong wrong.

I avarage + 2%-10% each month for the last year.
  • #6,872
  • Mar 8, 2009 3:55pm Mar 8, 2009 3:55pm
Quoting highneb
Interesting question. One things for sure, Peter Crowns method does not work. It doesn't take a lot of back testing to work that out. Sure there are a lot of impressive looking trades, but these are equalled by the losses on short term whip-saws.
PC didn't give us a method. Additionally to his valuable insights on market behavior, he just gave a low risk entry setup (tight SL, and very often 1st TP hit -> the free ride)

... the trade management (exit, trailing...etc) after the free ride achieved is completely personal.

Back test won't work with such a simple setup, cause you can only identify the entry points.... we can't simulate each trader's personal managing...

I like to hold my DIBS positions for 2-3 days, not more... sometimes, for some defined reason, I jump off earlier.... Jim holds his positions maybe for weeks, I believe PC too. Others close them at the end of session...

The outcome is very variable...

But it is for sure a very reliable and low risk entry setup.

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #6,873
  • Mar 8, 2009 4:58pm Mar 8, 2009 4:58pm
What does 'low risk entry set up' mean? the tests I have done indicate that once a dibs position is taken, then there is a 50% chance that it willl be profitable.
  • #6,874
  • Mar 8, 2009 5:43pm Mar 8, 2009 5:43pm
Quoting highneb
What does 'low risk entry set up' mean? the tests I have done indicate that once a dibs position is taken, then there is a 50% chance that it willl be profitable.
Highneb, what kind of tests have you done? Backtest or demo trading?
Many share my views with me. But I don't share them with them...
  • #6,875
  • Mar 8, 2009 6:37pm Mar 8, 2009 6:37pm
And about backtesting DIBS...

http://www.forexfactory.com/showpost...&postcount=377

Cheers!
Many share my views with me. But I don't share them with them...
  • #6,876
  • Mar 8, 2009 7:21pm Mar 8, 2009 7:21pm
Are you guys changing your day open times this week?
I didn't realize that Europe wasn't changing their clocks until March 29th. So, that would put Frankfurt open at 3:00 am EST.

http://forex.timezoneconverter.com/i...rica/New_York;
  • #6,877
  • Mar 8, 2009 7:25pm Mar 8, 2009 7:25pm
Looks like EURUSD may be the hot hand. Price is above session open, weekly open and monthly open...

http://i39.tinypic.com/o0dt3c.gif
TRO
  • #6,878
  • Mar 8, 2009 7:31pm Mar 8, 2009 7:31pm
Quoting ekling
Then your MM is wrong wrong wrong.

I avarage + 2%-10% each month for the last year.
Nice trading.
TRO
  • #6,879
  • Mar 8, 2009 8:45pm Mar 8, 2009 8:45pm
I'll just keep trading DIBS because you don't make money backtesting.

http://i40.tinypic.com/2e37pr7.gif
TRO
  • #6,880
  • Mar 8, 2009 11:32pm Mar 8, 2009 11:32pm


http://i44.tinypic.com/fyoosn.gif
TRO
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