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The DIBS Method... No Free Lunch continues

  • #6,881
  • Mar 9, 2009 2:11am Mar 9, 2009 2:11am
Took the EUR/USD short. Took profit on first lot and let 2nd ride. Obvious resistance met so got out for a modest profit on 2nd lot.
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  • #6,882
  • Mar 9, 2009 4:34am Mar 9, 2009 4:34am
Thanks for the replys.

Quick question,
How can MM make a break even strategy profitable?

Thanks for your time.
  • #6,883
  • Mar 9, 2009 5:02am Mar 9, 2009 5:02am
Quoting highneb
Thanks for the replys.

Quick question,
How can MM make a break even strategy profitable?

Thanks for your time.
Hi highneb

Please Please Please refer to www.babypips.com it will help you with the basics!

Don't thinks i'm being rude but in order to get the best from this system you really should have a firm understanding of the basics of support/resistance money management and trading in general... the later is the key to the success HERE!

It's to do with the risk reward ratios on not 1 but 2 trades taken at entry... this it where all traders will differ giving each trader different results and success levels. I personally don't trade every entry the market gives i have a plan to look for an entry to suit "my idea" of the market, this may sound vague...well because it is, you personally will either be able to trade using this "system" and make money or not, but because you can or can't doesn't mean someone else can or can't.

kind regards
  • #6,884
  • Mar 9, 2009 5:14am Mar 9, 2009 5:14am
usd/yen long @720... good rr with tight stop
  • #6,885
  • Mar 9, 2009 5:17am Mar 9, 2009 5:17am
Quoting icarusfx
usd/yen long @720... good rr with tight stop
I'm in this one. Price has broken up out of 1hr and 4hr trendlines and in the direction of the daily trend.

  • #6,886
  • Mar 9, 2009 5:24am Mar 9, 2009 5:24am
[quote=icarusfx;2589177]usd/yen long @720... good rr with tight stop [/quote

first tp hit for 17 pips free trade with stop moved up.
  • #6,887
  • Mar 9, 2009 5:27am Mar 9, 2009 5:27am
Quoting takingthepip
I'm in this one. Price has broken up out of 1hr and 4hr trendlines and in the direction of the daily trend.

nice! i took first tp early, before we hit current resistance area @940 area. (just in case
  • #6,888
  • Mar 9, 2009 5:35am Mar 9, 2009 5:35am
Quoting icarusfx
nice! i took first tp early, before we hit current resistance area @940 area. (just in case
First TP taken. On a free ride now. May move stop loss to break even,
  • #6,889
  • Mar 9, 2009 7:01am Mar 9, 2009 7:01am
closed @ 984 + 28pip + 17 total= +45
  • #6,890
  • Mar 9, 2009 7:23am Mar 9, 2009 7:23am
Closed 2nd position on USD/JPY. Realised 4hr trendline was invalid and price was stalling. Total 44 pips.

  • #6,891
  • Mar 9, 2009 7:52am Mar 9, 2009 7:52am
Took the GBP/JPY short. 1st TP 45 pips. 2nd lot now at 90 pips. Price had broken through the 1hr, 4hr and even daily Demark trendlines.
  • #6,892
  • Mar 9, 2009 7:56am Mar 9, 2009 7:56am
Adding pips together?
TRO
  • #6,893
  • Mar 9, 2009 8:03am Mar 9, 2009 8:03am
Quoting Money4Nothing
Adding pips together?
1st lot, 45 pips. Have just TP the 2nd lot at 95 pips. Total 140 pips. The overall trend seems up over the last few weeks, and on the 4hr chart, looks like a channel retrace back upward, so I bailed out.
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  • #6,894
  • Mar 9, 2009 8:26am Mar 9, 2009 8:26am
Quoting Money4Nothing
Adding pips together?
2 positions taken @ open that all m4n... hows your trading going?
  • #6,895
  • Mar 9, 2009 8:29am Mar 9, 2009 8:29am
Quoting takingthepip
1st lot, 45 pips. Have just TP the 2nd lot at 95 pips. Total 140 pips. The overall trend seems up over the last few weeks, and on the 4hr chart, looks like a channel retrace back upward, so I bailed out.

good day's trading for you my friend!
  • #6,896
  • Mar 9, 2009 8:38am Mar 9, 2009 8:38am
Quoting icarusfx
good day's trading for you my friend!
Thanks. Between trendline/DIBS breakouts, am up around 300 pips today. Only one bad loser, which was a careless trendline breakout trade, not DIBS.

I have yet to use the full 'infinite yield' power of DIBS. Have not let many DIBS trades run. Have been taking profits when they look decent.
  • #6,897
  • Mar 9, 2009 8:40am Mar 9, 2009 8:40am
Quoting icarusfx
2 positions taken @ open that all m4n... hows your trading going?

Just fine. Thanks for asking.

http://i44.tinypic.com/21479rb.gif
TRO
  • #6,898
  • Mar 9, 2009 9:30am Mar 9, 2009 9:30am
Quoting Money4Nothing
Just fine. Thanks for asking.

http://i44.tinypic.com/21479rb.gif
very nice! i'm a bit pissed i missed the double bottom break on usd/gbp and the subsequent fall out ...but hey tomorrows another day
  • #6,899
  • Mar 9, 2009 10:15am Mar 9, 2009 10:15am
Quoting highneb
Thanks for the replys.

Quick question,
How can MM make a break even strategy profitable?

Thanks for your time.

I can give you a really simple example.

Lets say that it is as you state that 50% of the DIBS is profitable and 50% is not. To me thats actually still pretty good, you dont need 90% winners to be profitable.

If you use an R:R of 2:1 meaning that you risk only half of what you might win then even a system with 50% loss would be profitable.

Each loss would be 50$ but each win would be 100$

And if you have 10 wins and 10 losses that would mean that you end up with 500$ + anyway. When trading the DIBS you sometimes keep your position for several days and your R:R will go far beyond 2:1, in one post that peter himself posted he showed us a trade that shoot straight up and left his position at a R:R of 25:1 meaning his profit was 25 times the amount he could loose if he got stopped out.

This is why MM is so god damn importent, you have to adjust it to how profitable your system is. You could even make money of a system that only have 10% wins and 90% losses IF the winners is big enough.
  • #6,900
  • Mar 9, 2009 10:18am Mar 9, 2009 10:18am
And im pissed of that i was in school this morning, missing all the GREAT dibs today. Wont be able to trade until wednesday, i will probably miss tons of great trades tomorrow and get all the crappy ones on wednesday
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