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The DIBS Method... No Free Lunch continues

  • #6,901
  • Mar 9, 2009 8:38am Mar 9, 2009 8:38am
Quoting icarusfx
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...

Good point, Icarus.

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #6,902
  • Mar 9, 2009 9:45am Mar 9, 2009 9:45am
Hi all,

Would you consider trading a candle which is ALMOST an IB? See the screenshot with the marked candle. It occured at 0500 GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: ib_gu.gif Size: 19 KB
  • #6,903
  • Mar 9, 2009 9:58am Mar 9, 2009 9:58am
me would give it a try
Knock at the sky and feel the thunder
  • #6,904
  • Edited 10:59am Mar 9, 2009 10:54am | Edited 10:59am
Quoting artov
Hi all,

Would you consider trading a candle which is ALMOST an IB? See the screenshot with the marked candle. It occured at 0500 GMT.
We must realize that at 1H, different brokers feeds may cause some confusion... 2 or 3 pips doesn't make such difference in DIBS concept, which is: INDECISION.... If that candle broke the last candle's up for 2 or 3 pips, it's a valid setup, IMO...

Market doesn't have Time-Frames.... the action/reaction of price is what we are looking for, and DIBS is about to catch a breakout of a briefly undecided pool of orders...

Note that that "almost" IB is formed in a relative Support zone (note how many times, backwards, the price reacted to that zone) so it's a "be careful" trade, but I would have take it, with proper MM.... in this case, the support zone was finally taken, and the breakout was HUGE...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #6,905
  • Mar 9, 2009 11:14am Mar 9, 2009 11:14am
Quoting artov
Hi all,

Would you consider trading a candle which is ALMOST an IB? See the screenshot with the marked candle. It occured at 0500 GMT.
Think about what and IB trade is... it is a break out of a inside bar's high or long. What about trading the break out of the previous bar's high or low instead of waiting for an IB to occur?
TRO
  • #6,906
  • Mar 9, 2009 12:46pm Mar 9, 2009 12:46pm
Quoting Money4Nothing
Think about what and IB trade is... it is a break out of a inside bar's high or long. What about trading the break out of the previous bar's high or low instead of waiting for an IB to occur?
I haven't done any research on that, have you? If yes, what are your conclusions?
  • #6,907
  • Mar 9, 2009 9:50pm Mar 9, 2009 9:50pm
Quote
i will probably miss tons of great trades tomorrow and get all the crappy ones on wednesday

Why not just wait for the trades you think are good?


Best regards

Dale
  • #6,908
  • Edited 3:18am Mar 10, 2009 2:51am | Edited 3:18am
Takingthepip I thought you might like this indicator

Did you get it??
Attached File(s)
File Type: mq4 DeMark_Trendline_Trader.mq4   24 KB | 827 downloads
  • #6,909
  • Mar 10, 2009 3:17am Mar 10, 2009 3:17am
Quoting Dale
Takingthepip I thought you might like this indicator
Thanks Dale. That might save me some time.
  • #6,910
  • Mar 10, 2009 3:19am Mar 10, 2009 3:19am
morning all

aud/usd anyone? need to see a trendline break @4170
  • #6,911
  • Edited 3:47am Mar 10, 2009 3:24am | Edited 3:47am
Stopped out on GBP/JPY and EUR/GBP. Ouch! There were no imminent trendline breaks, interestingly.

Still in USD/JPY. First TP hit. Moved S/L on 2nd half to breakeven. This was close to and *did* break the 1hr trendline.
  • #6,912
  • Edited 4:24am Mar 10, 2009 3:44am | Edited 4:24am
!
  • #6,913
  • Mar 10, 2009 4:35am Mar 10, 2009 4:35am
Quoting Dale
Why not just wait for the trades you think are good?


Best regards

Dale
Ofc i dont take bad trades, but it can be frustrating to sit in front of the computer several hours and not get one single good setup and then the next day you are away for 3 hours and 2-3-4 or 5 great setups go pass you

Ofc this is also a part of trading, I can handle it but still i think its frustrating
  • #6,914
  • Edited 5:46am Mar 10, 2009 5:10am | Edited 5:46am
EUR/USD IB. Will wait for the break at around 1.2737 this time!

Update:

I'm in, and first TP hit already.

Update:

Looked like an upper channel line retrace so I bailed out for 74 pips on the 2nd lot.
  • #6,915
  • Mar 10, 2009 5:59am Mar 10, 2009 5:59am
Hi Folks:
Enlcosed picture of winning DIBS trade. Can't enclose picture of boss hovering over my desk so I couldn't take it, AHHHHHHHH. Anyway, good time to ask what people are using for trailing stop. Has anyone let a trade run with the 20 SMA on the daily like Peter recommended. Or do you take profits a different way.

Lettting profits retrace to the 20SMA is tough on the psyche, although I know the reasoning, don't let the market shake out a eventually big profit trade.

All expeirences and insights are greatly appreciated.

Jim
  • #6,916
  • Mar 10, 2009 7:23am Mar 10, 2009 7:23am
Hi:
This time I'll send the chart. lol

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: dibs 3-10.gif Size: 13 KB
  • #6,917
  • Mar 10, 2009 7:32am Mar 10, 2009 7:32am
Quoting takingthepip
EUR/USD IB. Will wait for the break at around 1.2737 this time!

Update:

I'm in, and first TP hit already.

Update:

Looked like an upper channel line retrace so I bailed out for 74 pips on the 2nd lot.

good trade! i got in @ 2742 and closed just now for 51pips i'm gonna grab some lunch

got my aud/usd long as well....

could of also traded usd/cad or eur/jpy or usd/chf but you can't take everything (well you could but shouldn't) but i'm up a tad over 4% for the day

regards
  • #6,918
  • Mar 10, 2009 8:09am Mar 10, 2009 8:09am
Gotta love the DIBS...

http://i40.tinypic.com/hsjehx.gif
TRO
  • #6,919
  • Mar 10, 2009 1:11pm Mar 10, 2009 1:11pm
If anyone wants to read up on inside bars - find a book, article, website that deals with japanese candlesticks and brush up on "harami" -- very similar to an inside bar. Most literature will also explain confirmation bars for those unsure of when to enter.
  • #6,920
  • Mar 10, 2009 11:13pm Mar 10, 2009 11:13pm
is anyone taking a downward breakout of usdyen at 98.42..SL 98.58 ?? ( 5:00 GMT )

Simple
Knock at the sky and feel the thunder
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