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  • #7,821
  • May 5, 2009 5:04pm May 5, 2009 5:04pm
Quoting smikester
You're off topic so if you want advice I would go here: http://www.forexfactory.com/showthread.php?t=2331

You are looking at a 700 pip inside bar which could break either way. On the monthly we are still in an uptrend by my definition - trading above the 200 ma. But it's consolidating with lower highs and higher lows which is clearer on the weekly or daily chart. Ripe for a break out trade, on the daily, probably.

I wouldn't trade that monthly bar.
Sorry Razor I'd have posted but my first post here and I was told to get lost so I just didn't post again. But yes there were lots of good IB setups.
Personally I'm still watching last months IB. Which closed short. Even if it's not on a 1hr chart. Sorry. I've always preferred the higher TF. But if people here would rather not talk about anything but the 1hr TF i'm ok with that.

Have a great day
  • #7,822
  • May 5, 2009 10:07pm May 5, 2009 10:07pm
Sorry if I offended you. It's none of my business what you post in this thread. I thought I might be helpful and instead I got the tone wrong.
Gone to a better place
  • #7,823
  • May 6, 2009 9:24am May 6, 2009 9:24am
hi all, well just a quick msg to report a loser (eur/gbp) and 1 winner today (usd/chf) down 1%ish thought the later trade would be good for at least 4% but it bit back...ah well just 1 of those days for me.

just getting me head in shape after that long weekend..

hell of a rugby game in the all ireland! did anyone see it?
  • #7,824
  • May 6, 2009 10:03am May 6, 2009 10:03am
Quoting Razor_trader
Hey mate, can you do me a favour and enable your Private Messages as Id like to send you something of a more personal manner. Once you have replied I will delete this post.

Sorry all
Done Razor
  • #7,825
  • May 7, 2009 9:54am May 7, 2009 9:54am
Hello Everyone,

Do you use any special indicators with this method? If so, is there a specific post or page where such indicators can be found?

Thank you very much.
  • #7,826
  • May 7, 2009 10:32pm May 7, 2009 10:32pm
Quoting jicssbr
Hello Everyone,

Do you use any special indicators with this method? If so, is there a specific post or page where such indicators can be found?

Thank you very much.
The only indicator used is a SMA/EMA for profit taking. For some people the number variable is different. Otherwise it is see a dib and trade it if you feel it is viable.
  • #7,827
  • May 10, 2009 9:05am May 10, 2009 9:05am
Quoting jicssbr
Hello Everyone,

Do you use any special indicators with this method? If so, is there a specific post or page where such indicators can be found?

Thank you very much.
Click the paperclip at the top right of the forum screen and you will find some of the indicators that are useful in trading DIBS.
Never argue with a fool....
  • #7,828
  • May 11, 2009 1:09am May 11, 2009 1:09am
Hi folks,

anyone know where I can find an indicator for inside bars like the image below? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Indicator.GIF Size: 15 KB
Never argue with a fool....
  • #7,829
  • May 11, 2009 2:48pm May 11, 2009 2:48pm
Hi all, sorry if I ask a question already covered by this extensive thread. Can you tell me how long a signal is valid for? If you have not been triggered one bar into the trade after the IB, is the trade then not valid?

Also, are people having success on the hourly or are most people in this forum taking trades on the 4H?

Thanks
  • #7,830
  • May 11, 2009 8:14pm May 11, 2009 8:14pm
Quoting Porkpie
Hi all, sorry if I ask a question already covered by this extensive thread. Can you tell me how long a signal is valid for? If you have not been triggered one bar into the trade after the IB, is the trade then not valid?

Also, are people having success on the hourly or are most people in this forum taking trades on the 4H?

Thanks
This forum is dedicated more to the hourly IB's as per Peters orginal posts, however like myself there are some who trade higher TFs

As for the breakouts, they are best in the next candle. The next candle with either be a breakout in the direction of your trade (optimal), another IB (IB within IB which means hold your orginal plan) or a breakout of the other direction (against your IB which would mean your not in and the trade is void).

Hope that helps
  • #7,831
  • May 12, 2009 6:42am May 12, 2009 6:42am
Quoting Razor_trader
This forum is dedicated more to the hourly IB's as per Peters orginal posts, however like myself there are some who trade higher TFs

As for the breakouts, they are best in the next candle. The next candle with either be a breakout in the direction of your trade (optimal), another IB (IB within IB which means hold your orginal plan) or a breakout of the other direction (against your IB which would mean your not in and the trade is void).

Hope that helps
Many thanks. I noticed in a different thread that someone constructed an ea and the results over the long term were not favourable. Not sure what MM he was using to test it. However, as PC stated in the original thread, you do need to know a lot more about PA rather than using this method blindly. So I imagine confluence of other market variables have to be included without making the method too complicated (its simplicity is one of its benefits - especially with the mt4 alerts and being able to monitor many markets at once to alert you of a potential opportunity).
  • #7,832
  • May 12, 2009 7:24am May 12, 2009 7:24am
Quoting Porkpie
Many thanks. I noticed in a different thread that someone constructed an ea and the results over the long term were not favourable. Not sure what MM he was using to test it. However, as PC stated in the original thread, you do need to know a lot more about PA rather than using this method blindly. So I imagine confluence of other market variables have to be included without making the method too complicated (its simplicity is one of its benefits - especially with the mt4 alerts and being able to monitor many markets at once to alert you of a potential...
Agree entirely. To give you an example, I took two positions this morning, one on GBPUSD, the other on EURGBP. I had a bullish IB on 4H GBPUSD, (I run 2h offset so the 4H opens at 7am BST). As well as taking this, a doji formed on both the 4h and 1h EURGBP, with a bearish IB 2 hours previously. So I took the GBPUSD long at the full 3% risk at 7am (went freeride at 9am) and the less obvious reversal EURGBP short at 1% risk. Both currently freeride.

I also got a bullish 4H IB on USDJPY at 7am, but against the daily trend, with recent resistance at less than 1:1, so I closed for no loss after it retraced after the breach of resistance.

So, like most people, I'm not trading "pure dibs" but since there isn't such a thing (PC's and others' posts indicate discretion and understanding of PA is key).

Just my 2 pips' worth.
  • #7,833
  • May 12, 2009 8:17am May 12, 2009 8:17am
Quoting Porkpie
Many thanks. I noticed in a different thread that someone constructed an ea and the results over the long term were not favourable. Not sure what MM he was using to test it. However, as PC stated in the original thread, you do need to know a lot more about PA rather than using this method blindly. So I imagine confluence of other market variables have to be included without making the method too complicated (its simplicity is one of its benefits - especially with the mt4 alerts and being able to monitor many markets at once to alert you of a potential...
EAs and back testing can give a small insight into how the trades ROUGHLY worked out. EAs are not so accurate that the measure the point of trade and every tick bias as the trade plays out. For example, it is not going to identify a 4 hourly entry, and then record how the trade played out over every sec/tick that the trade was active. Also EAs are computer generate and have user defined rules. No human is going to trade a system to the dot. Why? Because regardless of who we are, or what we say we are about, we are unfortunatly (or fortunatly) emotionally driven, therefore the stomache of 99.99999% of traders will take some form of profit, be it whole or partial, at X point that is user defined. The EAs for DIBS would be created to be

1) enter ALL IBs regardless of setup** ill explain more in a sec
2) take 1/2 profit at 1.1/1 (the .1 is a spread allowance).
3) the trade exits only if SL is hit.

Point 1. The setups we see may not be 100% what is defined by the ultimate strategy. For example, the 6am candle is bearish, however we are in a very strong bull trend, the previous bar bounced off support and this IB has closed bullish. My bias personally would be to take the trade long based on the trend and the bounce and the close with some momentum. The rules state that we must trade the candle in the direction of the london open candle and the direction it has closed.

In the above situation it is up to the trader to define his/her position based on the information they have. Now a hard core DIBS trader may take the trade one way, whilst another will take it the other way. Who will win. Who knows. The future is not defined by the results of the past. We interpret the past to try to give us a picture of the future. At the end of the day both traders could have lost.

The EAs are defined only to the parameters that they are created. There benefit is that they can calculate roughly a greater period of time in a much shorter period of time. An EA can calculate the period of 2000 to current faster than we can read, record and evaluate a period of 1 year. Whilst it is good to have that general info, as mentioned, it is preprogrammed with very little (if none) discretion of how a human may or may not have reacted in that/those instance/s

Point 3 is also interesting because ave results cannot be properly defined without closed results. By this I mean (and I have only a small knowledge on the inner workings of EAs for feel free to correct me) all the closed results would appear to be quite bad, because the closed results must have resulted in either 1.1/1 trades, or SL trades. There could be open trades that are potentially up 1000's of pips because the market is up/down a great distance from there orginal entry point therefore if closed could have a great impact on results in a positive manner. If the EA uses a moving average to close positions when the market retraces then the above point is slightly invalid. In the event that is doesnt (it just allows trades to run to infinite) then would it record these trades.

All in all, there are so so so many examples of why this system has been successful, with some great names offering very valuable and visible proof of trades, and on the other side there has been about as much given for why it is a long term looser that offers very little account growth.

To the later I say that since trading this method solely I took 1 small insignificant live account to grow by more than 30% (1 month) and i took a demo account of $1000 to $1700 in less than 3 weeks. The demo was more agressive (not just because it was a demo) with 5% risk per trade while the live was a suitable 2.5%. I have sinced opened another live account of very little significance to give it more testing which will also be traded more aggressively.

Why? Because simply im not trading 100K and trying to make a living. Im simple risking an amount that is of little significance and trying to build it to an account of more significance. If im successful then I will evaluate as time goes by. If im not then I have tried, lost nothing and can move on. Do I think I will loose? Im optimistic about my chances for success, whilst accepting that most never reach there destination. However no one arrived without first travelling..

I understand that the above is a bit of rambling, but no one knows future results and everything we do as traders is directly related to past information and current information. Past results mould our expectations and give us cause for the way we handle current information. If it didnt then we would be random button pushes, executing trades on a whim.

Take care
  • #7,834
  • May 12, 2009 8:19am May 12, 2009 8:19am
Quoting SlideDog
Agree entirely. To give you an example, I took two positions this morning, one on GBPUSD, the other on EURGBP. I had a bullish IB on 4H GBPUSD, (I run 2h offset so the 4H opens at 7am BST). As well as taking this, a doji formed on both the 4h and 1h EURGBP, with a bearish IB 2 hours previously. So I took the GBPUSD long at the full 3% risk at 7am (went freeride at 9am) and the less obvious reversal EURGBP short at 1% risk. Both currently freeride.

I also got a bullish 4H IB on USDJPY at 7am, but against the daily trend, with recent resistance...
Homerun
  • #7,835
  • May 13, 2009 4:13am May 13, 2009 4:13am
morning all... just dropped in and i see alls quiet!

there have been some great dibs trades of late and a cracker today usd/jpy i'm sure the regulars took it but if your new have a look its the perfect set-up.

another set up on usd/jpy as i type (please note where recent low is though)

anyways

good trading all

regards
  • #7,836
  • May 13, 2009 5:09am May 13, 2009 5:09am
Quoting icarusfx
morning all... just dropped in and i see alls quiet!

there have been some great dibs trades of late and a cracker today usd/jpy i'm sure the regulars took it but if your new have a look its the perfect set-up.

another set up on usd/jpy as i type (please note where recent low is though)

anyways

good trading all

regards
Missed that one on the USD, but it would have been a decent setup. Looking more on 4 hourlys these days but swap between the TFs a couple of times. Good news is my account is finally ready to go so I can start taking some live trades again.

It would be nice to see somemore action at this thread, it has dwindled slightly in the past month.

Take care
  • #7,837
  • Edited 6:01am May 13, 2009 5:49am | Edited 6:01am
Quoting Razor_trader
Missed that one on the USD, but it would have been a decent setup. Looking more on 4 hourlys these days but swap between the TFs a couple of times. Good news is my account is finally ready to go so I can start taking some live trades again.

It would be nice to see somemore action at this thread, it has dwindled slightly in the past month.

Take care

good to hear razor! hows your 4h trading going?

hope everything goes well for you with your new account.

regards
  • #7,838
  • May 13, 2009 7:50am May 13, 2009 7:50am
a couple of superb setups today - that 1h gravestone IB on the USDJPY was a great one. I extended my risk slightly on that, 4% so a result.

Also, triple 1h IBs on the EURUSD - I felt that it was going to break hard one way or another when it did, but with possible whipsaw, so I cut risked only 2%.

as a total aside, I also took a bearish 1h IB on the FTSE today, applying the same trading rules, that's gone free ride!

so far, 1 losing trade this week, several freeride of which most are still open. a good week... I'm loving this system.
  • #7,839
  • May 13, 2009 8:17am May 13, 2009 8:17am
Quoting SlideDog
a couple of superb setups today - that 1h gravestone IB on the USDJPY was a great one. I extended my risk slightly on that, 4% so a result.

Also, triple 1h IBs on the EURUSD - I felt that it was going to break hard one way or another when it did, but with possible whipsaw, so I cut risked only 2%.

as a total aside, I also took a bearish 1h IB on the FTSE today, applying the same trading rules, that's gone free ride!

so far, 1 losing trade this week, several freeride of which most are still open. a good week... I'm loving this system.
well done m8
  • #7,840
  • May 13, 2009 8:20am May 13, 2009 8:20am
Quoting icarusfx
good to hear razor! hows your 4h trading going?

hope everything goes well for you with your new account.

regards
thanks, all is good, no trades as the funds cleared last night. Playing poker online to pass some time by at the moment. Laughing at the moment, have turned $30 into $180. Maybe I should combine the 2
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